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Indianapolis-based Technuity Inc. has been acquired by Audiovox Corp. of Hauppauge, N.Y., for $16.5 million, plus repayment of $4 million in debt. The deal closed Nov. 1, Audiovox announced today. Technuity is the exclusive North American licensee of Energizer Power Protection products and Energizer rechargeable batteries and accessories. About 30 people are employed at its […]
Funds from operations at the Indianapolis-based real estate investment trust Kite Realty Group Trust increased 6.7 percent in the third quarter. The $12 million in funds from operations, a common measure of REITs, amounted to 32 cents per share-matching the average estimate of analysts surveyed by Thomson Financial. Kite also reported today that its development […]
The mayor who was in office when Honda Motor Co. announced in summer 2006 that it would build an assembly plant in Greensburg was shoved out of office yesterday by a wide margin. Frank Manus lost to city council member Gary Herbert 1,679-1,000, according to the Greensburg Daily News. Herbert told the newspaper that Manus […]
The U.S. Department of Health and Human Services said today that Indianapolis-based WellPoint Inc. and several other providers of drug benefits kept overpayments too long. The companies, which also include Minnesota-based UnitedHealth Group and Humana Inc., headquartered in Louisville, Ky., should have more quickly refunded the $4.4 billion in overpayments, the department said. The figure […]
Real estate developers today are trying to sort out the implications of a major upset in the mayor’s race. The mayor-elect, Republican Greg Ballard (pictured), didn’t reveal much about his philosophy on…
Leaders of Indianapolis-area business organizations have a collective question mark in their minds when it comes to the look, feel and business-related priorities of Mayor-elect Greg Ballard. The Republican, who upset Mayor Bart Peterson in yesterday’s election, has promised to fight crime, avoid tax increases and consolidate local government. But it’s unclear what he’ll do […]
Anderson voters yesterday ousted Mayor Kevin Smith, a Republican who had spent much of his energy trying to revitalize the city’s sagging economy. Replacing Smith is Kris Ockomon, an Anderson police detective who is a Democrat. Ockomon hammered Smith over the direction he was taking with economic development, and Smith said in an interview today […]
Dating at least to the â??60s, when Richard Lugar was mayor of Indianapolis, the cityâ??s comeback has been
driven by nationally renowned cooperation between government and business.
Business interests came out of the woodwork to support Lugar, and subsequent mayors William…
Delta Faucet Co. will eliminate about 30 jobs at its headquarters in Carmel, the company said in a statement. Many of the positions were vacant. Delta, a unit of Michigan-based Masco Corp., said the move was needed to respond to “challenging economic times, including an unprecedented downturn in the U.S. housing market and softening retailing […]
Indianapolis Motor Speedway has licensed a co-branded wheel with TSW Alloy Wheels of Huntington Beach, Calif. It is the Speedway’s first such licensing agreement for wheels. TSW will offer the Indy 500 wheel in painted and chrome versions. The rims will range from 17 to 20 inches, and will be made in varying widths to […]
Now that Greg Ballard has pulled the big upset, how will Indianapolis be different under his administration? Is his election
good or bad for business?
The empty big-box Builder’s Square near Lafayette Square Mall finally has a new tenant after sitting vacant more than 10 years. Garden Ridge, a Texas-based home-decor chain, plans to take the 110,000-square-foot…
There’s at least one ranking related to college football where Indiana schools-and the towns that surround them-come out on top: Home affordability. A study by Coldwell Banker has found that Muncie, home of Ball State University, is the nation’s most affordable college town. The average price in Muncie for a four-bedroom, two-bath home with a […]
The race between Indianapolis Mayor Bart Peterson and his Republican challenger, Greg Ballard, became interesting
in the final days, and not just because Ballard suddenly got traction in a widely publicized poll.
In the past few days, two prominent arts leaders…
David Kiebach, the co-founder and principle of MD Logistics in Plainfield, died of a heart attack yesterday prior to leaving for work. Kiebach, 47, started MD Logistics and MC Express in 1996. He launched a strategic partnership with SEKO Worldwide in 2002 and then MD Packaging Services a year later. MD Logistics ranked 8th among […]
The Indiana Court of Appeals has ruled against Whirlpool Corp., saying an employee at its Evansville plant was fired in retaliation for filing a racial-discrimination complaint, reports the Evansville Courier & Press. The ruling, which upholds earlier decisions by the Vanderburgh County-Evansville Human Relations Commission and Circuit Court Judge Carl Heldt, states Harriett Layne should […]
Maxon Corp., a Muncie company that makes burners, gas valves and other heating equipment used by industry, has signed a definitive agreement to be sold to Honeywell International for $185 million. In a statement, Maxon President Rich Clasby said he anticipates Honeywell’s presence in developing countries to accelerate Maxon growth that had shown increasing strength […]
A local developer hopes to break ground next month on an $11.5-million condo project along East Street between Ohio and New York streets. Landmark of Lockerbie would feature 16 loft units,…
The headquarters of Haverstick Consulting Inc., the Carmel-based defense-consulting firm acquired by Kratos Defense & Security Solutions Inc. of San Diego, will remain in Indianapolis, a company executive said this afternoon. Haverstick, headed by Conseco founder Steve Hilbert, announced earlier today that it had agreed to be acquired by Kratos for $90 million, including $69 […]
American Health Network says its doctors in Kokomo, Russiaville and possibly other locations no longer will take new patients who are insured by Anthem Blue Cross and Blue Shield of Indiana. The announcement was issued yesterday, the physician network said, after Anthem refused to increase reimbursement rates even as the cost of providing care is […]
