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UPDATE: Citizens shuttering dinosaur coke plant

April 12, 2007

Hammered by foreign competition, declines in heavy industry and rising environmental costs, Citizens Gas & Coke Utility said today it plans to close its 98-year-old Indianapolis Coke plant, eliminating 300 jobs. The utility said today it was unsuccessful in finding a buyer for the southeast-side plant despite interest from about 20 firms over the last […]

UPDATE: Incentives helped PrincetonOne choose Indy

April 12, 2007

Its past work with Eli Lilly and Co. and the presence of central Indiana’s universities led executive search firm PrincetonOne to commit to adding 200 jobs in Indianapolis, the company said today.   And $2.1 million in city and state incentives didn’t hurt, either.   The city offered PrincetonOne $55,600 in tax abatements, and the […]

Carmel nursing home cited for violations

April 12, 2007

Manor Care at Summer Trace in Carmel has violated several state regulations for long-term care facilities, the Indiana State Department of Health said this morning. The Department of Health said it wants to put the facility on probation, and require the facility to hire a nurse and licensed administrator consultants. Among violations found in four […]

BREAKING: Citizens to close Coke plant

April 12, 2007

Citizens Gas & Coke Utility will close its 99-year-old Indianapolis Coke plant on the southeast side, eliminating 300 jobs. The utility said today it was unsuccessful in finding a buyer for the plant despite interest from about 20 firms over the last 11 months. Sources outside the company who were close to the talks said […]

Dirt sought for potential Getrag site

April 12, 2007

The owner of a farm near the rural Tipton site where Getrag Corporate Group has filed preliminary plans to build a $560 million transmission plant says an Evansville contractor has offered to buy dirt to add elevation to the site. The landowner, Kip Bergman, said the company wants 200,000 cubic yards, according to the Kokomo […]

BREAKING: Staffing firm to add 200 jobs downtown.

April 11, 2007

Princeton One, a New Jersey–based staffing firm, will announce tomorrow that it is adding about 200 jobs in downtown’s Century Building, 36 S. Pennsylvania St. Average pay for the jobs will be $70,000, according to a source close to the project. Indiana Lt. Gov. Becky Skillman and Indianapolis Mayor Bart Peterson have scheduled a press […]

Hammond Kennedy sells Effox to Ceco

April 11, 2007

Effox Inc., a Cincinnati company that makes custom air-handling dampers and expansion joints, has been sold by Hammond Kennedy Whitney & Co. Inc. to Ceco Environmental Corp., also of Cincinnati. Effox had been controlled through the Indianapolis office of Hammond Kennedy, a New York private equity firm.

Former Union Federal exec joins Indianapolis startup

April 11, 2007

Former Union Federal Bank of Indianapolis President and CEO Alvin “Kit” Stolen III has taken a position as vice president of consulting at Achievant LLC. The Indianapolis company, launched in September with funding from the 2005 sale of the Carmel banking software firm Baker Hill, sells consulting services and software to help financial institutions with […]

Recession likely within a year, most Americans say

April 11, 2007

Six of 10 Americans surveyed by Bloomberg and the Los Angeles Times expect a recession within a year, according to a Bloomberg report. Slightly more than 70 percent of respondents making less than $40,000 predicted a recession, although the expectation dropped to about half among respondents making more than $100,000. The sentiment is similar to […]

Patrick buys RV components maker in Elkhart

April 11, 2007

Patrick Industries Inc. has agreed to buy Adorn LLC for an undisclosed price. Both companies are based in Elkhart and make components for recreational vehicles and manufactured houses. Publicly-traded Patrick generated $348 million in revenue last year and Adorn, $240 million. Patrick said the acquisition, which is expected to close before summer, will add synergies […]

Vectren to allow customers to buy wind power

April 11, 2007

Vectren Corp., the Evansville-based utility that supplies electricity to much of central Indiana, will give customers the option to buy power originating from wind generators in Benton County near Lafayette. Vectren plans to buy 30 megawatts a year from the farm, enough for 8,000 homes, according to the Evansville Courier & Press. The price will […]

Fort Wayne foundry workers ratify contract

April 11, 2007

A new contract at Fort Wayne Foundry Corp. was ratified by United Auto Workers Local 1101 members Tuesday, but they aren’t happy. The machining division workers will pay more for insurance but receive no wage increases, according to The Journal Gazette of Fort Wayne. Still, the union, which represents 110 of the division’s 150 employees, […]

Cingular negotiating to land 500-plus jobs in Evansville

April 10, 2007

Cingular Wireless hopes to announce this month that it will create 500 to 600 jobs in Evansville, according to a source familiar with the discussions. The call center will handle contacts from customers. However, major pieces of the deal have not been finalized, the source said. Cingular has been acquired by AT&T of San Antonio, […]

Capital Grille getting local flavor

April 10, 2007

A new restaurant slated to open April 30 within the Conrad Indianapolis hotel will honor legendary Hoosiers on its mahogany-paneled walls. The Capital Grille has commissioned portraits of eight prominent Indiana residents: Indianapolis Motor Speedway savior Anton “Tony” Hulman Jr.; Eli Lilly, the former Eli Lilly and Co. president and grandson of the company’s founder; […]

Growth to slow due to housing, business spending, experts say

April 10, 2007

The swelling housing recession and slower business spending are likely to result in 2007 economic growth slipping to 2.4 percent, the weakest pace in five years, according to Bloomberg. Mortgage defaults and rising foreclosures threaten the housing market, and falling business investment might restrict the number of jobs companies are willing to create, said 29 […]

Escalade president dies suddenly

April 10, 2007

The president and CEO of Evansville-based Escalade Inc. died yesterday of an apparent aneurysm. Daniel A. Messmer, 53, had led the sporting goods manufacturer and marketer since August. He joined the company in 1976. “We are all shocked and saddened by the unexpected passing of Mr. Messmer,” said Terry Frandsen, Escalade’s CFO, in a written […]

British firm asks for tax breaks in Greenwood

April 10, 2007

Keronite International Ltd., a British company with technology for putting hard surfaces on metals, has asked Greenwood for tax incentives to establish a plant with 29 jobs, according to the Daily Journal of Franklin. The plant would be located at Interstate 65 and Rocklane Road.

German company files plan for huge Tipton plant

April 10, 2007

Tipton, the community north of Hamilton County, might become home to a Getrag Corporate Group transmission plant if the German company follows through on a plan it filed recently with the Tipton County Plan Commission. The plan calls for building a total of 700,000 square feet on 228 acres at U.S. 31 and State Road […]

Shelbyville runs ads to court Honda workers.

April 9, 2007

Shelbyville and Shelby County have launched a marketing campaign in Marysville, Ohio, hoping to attract Honda workers moving to Indiana to work at the automaker’s new plant near Greensburg.   The Shelby County Development Corp. began running full and half-page ads in the Marysville Journal-Tribune on March 30. The ads direct readers to a Web […]

Falling jobless rate might not be good news.

April 9, 2007

Joblessness is ebbing in Indiana, but the reason might be driven more by people dropping out of the labor force than by workers soaking up new jobs. The state’s unemployment rate stayed stubbornly above 5 percent for four years. In the past few months, though, the rate mostly has stayed below 5 percent, U.S. Bureau […]

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