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Duke Realty Corp. announced today that it raised $218 million in the first quarter through asset sales and financing maneuvers in an effort to pay down debt. The Indianapolis-based real estate company gained $156 million through the 10-year secured-debt financing of some of its suburban office and industrial properties. It also sold two office buildings […]
Leading local arts backers Jane Fortune and Robert Hesse are the driving forces behind Indianapolis City Ballet, a new professional dance company, IBJ learned this morning. Indianapolis has been without a high-profile professional ballet company since Ballet Internationale folded in November 2005 with $1 million in debt. Hesse has been working on the concept and […]
Lt. Gov. Becky Skillman this morning joined Indiana Department of Transportation employees and families who have lost loved ones in work zone-area accidents. Skillman made brief remarks honoring those individuals at the Indiana Government Center as part of Work Zone Awareness Week. Nationally, hundreds of people are killed in work zone accidents every year. Fox […]
Police are asking for help as they try to locate the killer of Lamont Wright, 27, who was shot and killed Monday outside a house in the 3800 block of Arthington Boulevard. Police have no suspects. Anyone with information should call Crime Stoppers at 317-262-TIPS.
A stolen car ended up in a creek this morning following an early-morning hit-and-run and police chase on the east side of Indianapolis. Lawrence police say cars in the chase reached speeds of 90 mph before the car’s driver lost control and crashed near 56th Street and Franklin Road. The driver was taken to Wishard […]
Police say a man posing as a helpful citizen faces felony rape charges. According to an affidavit, Imari Butler, 35, approached a woman at a near-north-side gas station last week and helped her change a flat tire. Butler allegedly attacked the woman in an alley after she gave him a ride home. He faces multiple […]
By MARCY GORDON WASHINGTON The chief executive of Goldman Sachs Group Inc. on Tuesday called for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private equity funds. Lloyd Blankfein, who received compensation valued at nearly $43 million last year, said lessons from the financial crisis include […]
Duke Realty Corp. announced today that it raised $218 million in the first quarter through asset sales and financing maneuvers in an effort to pay down debt. The Indianapolis-based real estate company gained $156 million through the 10-year secured-debt financing of some of its suburban office and industrial properties. It also sold two office buildings […]
Open-wheel racing has long been bigger with the wine-and-cheese crowd than with the blue-collar bunch that made NASCAR the biggest racing circuit in North America. That’s been OK for Formula One, with its…
Stephen M. Hourigan began his new duties yesterday as executive director of the Indiana Economic Development Corp.’s small business and entrepreneurship initiatives. Hourigan, who will focus on encouraging creation of high-growth companies and small businesses, replaces Bruce Kidd. Kidd resigned in December to take a post as senior vice president at Indianapolis research firm Walker […]
Office vacancy rates increased for the fifth consecutive quarter both downtown and in the suburbs, according to the latest statistics from CB Richard Ellis, a sign that the economy continues to take its toll on the local market. The suburban office vacancy rate jumped to 20.27 percent in the first quarter, from 19.52 percent in […]
HHGregg Inc. today reported better-than-expected revenue and profit projections for the fiscal fourth quarter. According to preliminary numbers for the quarter ended March 31, the Indianapolis-based electronics and appliances retailer had revenue of $365 million – a 13-percent increase over the same period a year ago. The retailer said profit per share for the quarter […]
The federal government said last night it will bump up a rate used to figure Medicare Advantage reimbursement to insurers by nearly 1 percent, but many analysts expect overall payment rates to fall next year. The Centers for Medicare & Medicaid Services said the national average growth percentage per capita for Medicare Advantage plans would […]
I’m guessing that many of you have already seen the e-mail that is being circulated prodding you to join a rally on Monument Circle April 20 designed to “increase awareness of the importance of the arts to the local economy…
Purdue University plans to boost its student scholarship program with a $6 million donation. Purdue officials said today that that donation was the school’s largest-ever cash gift for scholarships. The school says the donor wants to remain anonymous. An additional $2 million from the donor will go toward other university projects. The scholarship donation will […]
Indiana state tax collections were down $157 million in March, with total revenues $755 million less for the first nine months of the fiscal year than lawmakers had approved for spending. Revenues have fallen short of original projections in eight of the nine months so far in this fiscal year. They were $4.1 million ahead […]
IBJ reporter Kathleen McLaughlin chimes in with an update on the latest downtown public art showcase:
Installation of “George Rickey: An Evolution” begins April 21 at 10 locations downtown. Printed guides will be…
Indianapolis-based Consona Corp. announced today it would acquire the enterprise-software-related assets of Redwood City, Calif.-based SupportSoft Inc. for about $20 million in cash. Consona, formerly Made2Manage Systems Inc., is a private company owned by Waltham, Mass.-based venture capital fund Battery Ventures VI LP and Chicago-based private equity firm Thoma Bravo LLC. The transaction should be […]
Indianapolis-based Emmis Communications Corp. has agreed to lease struggling Los Angeles radio station KMVN-FM to Mexico’s Grupo Radio Centro in a deal that likely will lead to an acquisition of the station. Under the seven-year deal that takes effect April 15, GRC will pay Emmis $7 million annually, with $14 million paid up front. Mexico […]
Virginia-based Sallie Mae said this morning that it would bring 2,000 jobs to the United States within the next 18 months by shifting call-center and other operations from overseas. Sallie Mae, the nation’s largest private student lender, said in a statement that it would hire call-center, information-technology and support employees. The company didn’t identify where […]
