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Wholesale prices for used vehicles decelerate in June

Wholesale used vehicle prices fell 3.6 percent, to $9,893 on average, in June compared with the same month of 2011, according to data compiled by Tom Kontos, an executive at Carmel-based wholesale auction chain Adesa Inc.

Area couple’s bankruptcy filing lists $18.5M in debt

An Indianapolis-area couple that operated more than two dozen companies—including one that provided financial counseling—has filed for bankruptcy, listing $18.5 million in debt that includes unpaid business loans and mortgages for homes in Florida and Wyoming.

First Internet Bancorp reports higher earnings

First Internet Bancorp, parent of Indianapolis-based First Internet Bank, said Thursday that profit rose 55 percent in the second quarter compared with the year-ago period.

Author Solutions acquired by Pearson for $116M

London-based Pearson Plc has purchased Bloomington-based self publisher Author Solutions Inc., which has about 400 employees, most of whom are in Indiana, and had revenue in 2011 of $100 million.

United Way CEO Annala announces retirement

Ellen K. Annala, who has led the United Way of Central Indiana as CEO for 14 years, will retire next year, the not-for-profit announced Wednesday afternoon.

Orlando dwarfs Indianapolis in tourism, conventions

The Indianapolis and Orlando metro areas both have roughly 2 million residents, but Orlando’s theme parks drive a huge convention and tourism industry concentrated around a convention center miles from its downtown.

Honda investing $40M in Greensburg, adding 300 jobs

Honda Manufacturing of Indiana LLC, a division of Japan-based Honda Motor Co., said on Wednesday that it will invest $40 million in its Greensburg plant and hire 300 employees later this year as it ramps up production of its compact cars.

Girl, 3, drowns in apartment pond

Police say a 3-year-old girl died after drowning in an apartment complex retention pond on the far east side of Indianapolis. The girl's aunt told police that she woke up from a nap Tuesday afternoon to find her front door open and the girl gone. Police launched a search for the girl at the Marina Apartment Complex and she was spotted in the pond a short time later.
 

Water rates set to rise in Cumberland

Residents in Cumberland plan to voice their outrage at a public hearing Wednesday over a proposed 60-percent water-rate hike. Cumberland Town Manager Jeff Sheridan said GEM Utilities had been operating in the red well before the town purchased it more than a year ago. Now, a study has determined the best way to balance the books is to raise rates. About 550 water customers would be affected by the change, if it's adopted. GEM now charges residents $4.73 per every 1,000 gallons used. The rate would rise to $7.57 under the proposal. By comparison, Citizens Water charges local customers a rate of $3.63 per 1,000 gallons.

PNC earnings sink on soured home mortgages

PNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds of millions of dollars to buy back home mortgages.

City plans bid on 2018 Super Bowl

Officials are emboldened by the financial results of the city’s first time hosting the NFL championship game in February, which produced a direct economic impact of $176 million, according to a study commissioned by the Indianapolis Super Bowl Host Committee.

Indiana can’t collect on IBM welfare lawsuit, judge rules

Indiana cannot collect millions of dollars it claims IBM owed after its efforts to overhaul the state’s welfare system failed, and the computer giant is entitled to payment for equipment the state kept, a judge said in a Wednesday ruling that condemned both sides.