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Layoffs slated for Indy Racing League, IMS
Indy Racing League and Indianapolis Motor Speedway are planning staff cuts, likely before year end, to become more efficient during a difficult economic environment, according to sources within both organizations who are familiar with the decisions. The number of layoffs was not immediately available. The IMS also has instituted a hiring freeze. The sources referred […]
IRL, IMS making staff cuts
If you’re an open-wheel racing fan, should you be concerned that Detroit cancelled its 2009 Indy Racing League race, reducing the IRL schedule to 17 races? You bet.
Sure, Detroit—with all the tumult surrounding…
Skjodt resigns from embattled Lampoon
Indianapolis businessman Paul Skjodt said today he is resigning from the board of National Lampoon Inc., a move that follows the Monday arrest of its CEO on charges of securities fraud. In a statement, Skjodt said he was stepping aside “to better focus on my other business interests.” Skjodt, owner of the Indiana Ice, teamed […]
Bayh aims for piece of stimulus
Sen. Evan Bayh’s campaign efforts on behalf of Barack Obama may soon pay off for Indiana’s alternative power industry. A Bayh spokeswoman said the Democrat will stage a press conference at 1 p.m. at Indianapolis Motor Speedway. He’s expected to announce efforts to secure part of President-elect Obama’s economic stimulus package on behalf of Indiana’s […]
State takes over troubled Standard Life
Standard Life Insurance of Indiana has been taken over by Indiana regulators after massive investment losses threatened its obligations to policyholders. Indiana Insurance Commissioners Jim Atterholt won an order of rehabilitation from Marion County Circuit Judge Theodore Sosin yesterday, granting him management authority over the company. Standard Life is owned by Kentucky-based Capital Assurance Corp., […]
IMS, Foyt ink sponsor deals
Four companies signed deals to be presenting sponsors for the Indianapolis Motor Speedway’s Centennial Gala: Just Marketing International, Old National Bank, the Indiana Pacers and Honda. Financial terms of the deal were not…
UPDATE: Feltman to pursue law, business
Outgoing state commerce secretary Nate Feltman said today that he likely will return to practicing law and become involved in business after leaving the post at the end of the month. Feltman said he plans to stay in Indianapolis, though he wouldn’t divulge details of his plans. “This is a place my family and friends […]
Allison workers to be offered buyouts
Allison Transmission will offer early retirement to those of its 2,200 hourly workers who are eligible in order to cope with the dramatic economic slowdown. The company plans to unveil details of the offer in meetings with employees tomorrow, and declined to say how many workers might be eligible or the size of work force […]
Mirror mirror on the wall …
News flash … This just in … Good-looking NFL quarterbacks make more money—a lot more money—than less attractive ones. Seriously. A group of Utah economists using high-tech computers to measure the symmetry of…
Technology fueling new jobs, state forecast says
People who want to position themselves for the best jobs in the Indianapolis area through 2016 would do well to bone up on technology. The Indiana Department of Workforce Development says in its annual Hoosier Hot 50 jobs forecast that computer software engineers will offer the best combination of job growth and high wages. In […]
Pita Pit coming downtown
The downtown lunch crowd will have one more option in the spring: Pita Pit. The Lebanese-style pitas chain already has a restaurant on West 86th Street across…
A Fink among Muppets
On Wednesday, “A Muppet Christmas–Letters to Santa” made its holiday debut on NBC.
Why am I mentioning that here?
Two reasons.
1. It was co-written by Indianapolis native Hugh Fink, a former SNL scribe and very funny man. (Check out some funny business…
Pizza pumps up Pacers attendance
The Indiana Pacers are climbing the NBA attendance ladder—at a surprisingly brisk rate. With deals like the one the team unveiled this week, it’s no wonder. The team is now offering $3 tickets….
Katz Sapper’s embarrassment
Yesterdayâ??s disclosure by KSM Capital Advisors that its clients might be out $15 million from the alleged
Madoff scandal probably wonâ??t be the last local fallout. At minimum, it has been a stressful and embarrassing
time for a…
‘Seven Pounds’: Your thoughts
So did you brave the weather–and the massive overbooking of the theater–and get in to see “Seven Pounds” last night?
If so, let us know what you thought.
Fledgling food-ag venture firm raises $28M fund
A new Carmel venture-capital firm focused on food and agriculture has closed its first fund with $27.8 million, including $15 million from Indiana investors. IN Partners LLC announced the landmark yesterday but continues to raise money. Ron Meeusen, a co-founder and managing partner, said IN Partners is one of only a handful of venture firms […]
BREAKING: Madoff scam may cost KSM clients $15M
Indianapolis investment firm KSM Capital Advisors disclosed today that the scandal unfolding around New York hedge fund manager Bernard Madoff could cost its clients as much as $15 million. Making matters worse: KSM’s parent, accounting firm Katz Sapper & Miller LLP, could lose up to 1 percent of its book value as a result of […]
Firm yanks Lampoon deal after CEO’s arrest
A Boston firm today canceled a tentative agreement to finance National Lampoon Inc. films, a move that follows the arrest yesterday of the Los Angeles company’s CEO on charges he fraudulently manipulated the company’s stock. Envit Capital CEO Edward Laborio said in a statement that he is terminating an October agreement to provide funding for […]
IMA wants share of restaurant, catering revenue
The Indianapolis Museum of Art wants a share of revenue from its restaurant operation rather than relying on a management fee. The change comes as the museum examines four proposals it has received to run its restaurant and café, and possibly a renewed catering service. Chief Operating Officer Jack Leicht said local and national companies, […]