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1st Source Corp. of South Bend has agreed to buy FINA Bancorp, the parent of First National Bank, Valparaiso, for $135 million in cash and stock. Both boards have approved the deal. 1st Source, which has $3.8 billion in assets and 67 branches in Indiana and Michigan, said it wants the northwest Indiana bank to […]
A new contract ratified by General Drivers, Warehousemen & Helpers Local 89 at Jeffboat LLC calls for an average wage increase of 11 percent over three years. About 95 percent of 900 eligible Teamsters members voted in favor of the contract, according to Jeffboat parent American Commercial Lines Inc. The Ohio River shipyard, located in […]
Indianapolis Motor Speedway has hired Hardcard Holdings, a consulting firm specializing in motorcycle races, the speedway said today. “The Speedway has been looking at hosting a motorcycle event for some time, and we continue to be enthusiastic about the prospects,” IMS President Joie Chitwood said in a statement. “Hardcard will advise and consult with the […]
The city is restarting efforts to find a company to redevelop the former site of Market Square Arena, which has languished as a parking lot since the city tore down the arena almost six years ago. A new request for proposals likely will go out Wednesday. This time around, developers will need to propose […]
Tomasco Indiana LLC is spending $20 million to expand its Winchester auto parts plant to supply the Honda Motor Co. assembly plant under construction at Greensburg, the company said today. The Winchester plant will grow to 305 jobs from 180, and add 122,000 square feet to the existing 202,000 square feet. It stamps, welds and […]
Snow storms will crimp sales for Gregg Appliances Inc. in its fourth fiscal quarter, the Indianapolis-based electronics and appliance retailer disclosed in a regulatory filing last week. Percentage gains in same-store sales will rise only “mid-single digits” instead of the mid- to-high single digits Gregg forecast when it reported third-quarter sales ended Dec. 31. The […]
Wal-Mart Stores Inc. said this morning that it will build a 176,000-square-foot Supercenter immediately south of the abandoned Builders Square store at 46th Street and Lafayette Road. The new store will employ 300 when it opens in early 2008. The store is smaller than the 203,000 square feet anticipated by the city when it announced […]
Veteran television journalist Kevin Finch has been promoted to news director from assistant news director of WISH-TV Channel 8, IBJ ’s newsgathering partner. In his new position, Finch will oversee news operations. Earlier, he planned and produced long-term news coverage at WTHR-TV Channel 13.
Eli Lilly and Co. has contracted with four companies to distribute its new line of drugs for dogs and cats. The companies include Butler Animal Health Supply of Dublin, Ohio; MWI Veterinary Supply of Nampa, Idaho; Professional Veterinary Products Ltd., of Omaha, Neb.; and Webster Veterinary Supply Inc., of Sterling, Mass. Indianapolis-based Lilly also said […]
The computer search engine that helps the Indiana Department of Workforce Development match unemployed people with jobs offers only a small portion of the jobs listed on CareerBuilder, Monster and other Web sites, according to the Post-Tribune of Merrillville. The CS3 search engine used by WorkOne is so obsolete that one former state worker estimated […]
Orange County’s unemployment rate has fallen a full percentage point—to 6.4 percent—since French Lick Resort Casino opened in the southern Indiana community of French Lick in November. Also, the turnover rate for the 1,520 workers has ranged between 23 and 25 percent, lower than for some casino openings, according to the Times-Mail of Bedford. Casino […]
Indianapolis-based Norwood Promotional Products is facing legal challenges from a half-dozen former executives who say board
members and investors conspired to fire them, withhold severance pay and cheat them out of as much as $3.6 million in company
stock.
Goodwill Industries of Central Indiana supports its job and educational programs by reselling used clothes, household items and even cars. But the virtues of reuse and recycle aren’t confined to the not-for-profit’s 34 local thrift stores. Goodwill has adapted its headquarters several times since it was built in 1960, to fill a variety of needs. Some of the same space within the 195,000-square-foot building has served as a retail store, an office full of cubicles, an industrial packing facility and…
Why can’t products be easier to use, simpler and with fewer gadgets? Why do we have so many features we never get around to using? Buttons and dials on car radios are proliferating, and even metastasizing to the steering wheel. There are so many switches in new cars that some of them go forever unused, simply because we can’t remember what they do. Cell phones are sprouting menus within menus. Even refrigerators are getting computerized controls with a television in…
It was a long time coming, but attorneys for the defunct Paul Harris women’s apparel chain have won a whopper of a settlement-$9.9 million-with the company’s auditor, PricewaterhouseCoopers. In a lawsuit filed five years ago, they accused PwC of “gross negligence” for failing to detect a $7.5 million inventory shortfall and other accounting breakdowns. They charged that the discovery of the discrepancy in the spring of 2001 scuttled the final stages of negotiations to extricate the Indianapolis-based company from bankruptcy…
As struggling General Motors Corp. tries to raise cash by unloading Allison Transmission, the fate of the city’s third-largest
manufacturer hangs in the balance. But analysts say its market dominance, strong management team and abundance of private
equity could spare it the fate of other auto plants here.
He’s held off Conseco’s attorneys longer than anyone else. And if he can get to a jury, he’s confident he can win. Dennis E. Murray Sr., a colorful trial lawyer from Ohio, likely will be the last man standing in Conseco’s 3-1/2-year assault on a group of its former directors and officers who failed to repay hundreds of millions of dollars borrowed to buy Conseco stock. The Carmel-based insurance firm has settled with nine of the 11 borrowers in that…
CHRIS KATTERJOHN Commentary Snowstorms make you wonder Television weatherpeople are weird creatures, and I mean that in the nicest way. I know a few of them, and they are very fine individuals. But while most folks get anxious over “weather events” like Feb. 13’s snowstorm, TV weatherpeople get excited, downright giddy. Their eyes gleam with intensity. They become more animated. Their nervous systems crank to high alert. They are like the veritable kid in the candy store. Weather events are…
Hoosiers wanting to avoid the hassle of waiting in line at the BMV will soon have an option, but will have to pay about $20
to use it. The Indiana Bureau of Motor Vehicles is launching a project to allow automobile dealers across the state to provide
title and license-plate registrations.
A week or so ago, I spent a few lovely days at a conference in sunny San Diego while the mercury dropped below zero in the Midwest. For once, my timing was excellent. Weather aside, the days were filled with several thought-provoking speakers. Below is a smattering of takeaways that were interesting enough to share. Paul McCulley, an economist muckitymuck who sits at the right hand of bond investment guru Bill Gross at Pimco, made the observation that the world…
