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Indianapolis-based CountryMark Cooperative is suing its investment adviser, Morgan Keegan & Co., for directing the farmer-owned co-op toward a $10 million investment in mortgage-backed securities, including subprime. CountryMark purchased the note on Aug. 10, 2007. Seven days later, ratings agencies downgraded the A+-rated investment to junk status and it remains in default. CountryMark is suing Memphis-based […]
Jim Schellinger, who is seeking the Democratic nomination to unseat Gov. Mitch Daniels in his attempt at a second term, told a group of retired United Auto Workers members yesterday that in his first hour as governor he would reinstate the ability of unions to bargain collectively. Speaking in Marion, Schellinger also said he would […]
Value City will have two remaining Indianapolis locations, at 6002 E. 38th St. and 5110 Pike Plaza Rd.
An expansion of an Indianapolis collection agency is expected to result in 220 workers being added to the roughly 100 already employed by the company. Premiere Credit said this afternoon that 120 of the jobs will be located at its location at 2002 Wellesley Boulevard near interstates 70 and 465 on the east side and […]
A lawsuit filed in Steel Dynamics Inc.’s headquarters city of Fort Wayne accuses the steelmaker of causing a steel company in Thailand to lose $1 billion. Prime Eagle Group Ltd., owner of the Thai steel company, claims investors abandoned Nakornthai Strip Mill after Steel Dynamics publicly criticized the project while acting as a consultant to […]
For a long time, General Motors has told us its newest model would drive back the Germans, Japanese and
more lately the Koreans.
Those who believed, of course, must feel like Charlie Brown after Lucy yanks away the football.
Now GM is getting…
The new owner of Value City Department Stores is closing the location at 1230 U.S. 31 North in Greenwood. VCHI Acquisition Co., headquartered in Columbus, Ohio, will shutter the store within eight weeks along with other stores deemed non-core in its turnaround plan. A total of 30 of the 113 Value City stores will be […]
Two recent revelations left open-wheel racing fans and sponsors wondering if the unification of the Indy Racing League and Champ Car is finally at hand. What is less clear is if unification of North America’s two largest open-wheel racing circuits…
Seen one of these signs? There are plenty around town. Here are a few notable projects slated for Metropolitan Development Commission hearings: Locally based Herman & Kittle Properties Inc. is proposing…
Cook Pharmica said today it will spend $80 million to expand its contract drug manufacturing operation to include formulation, filling and finishing. The project will create 200 jobs, said the company, a division of Bloomington medical device giant Cook Medical. Cook Pharmica currently develops and manufactures cell culture-based products. The expansion will have two lines […]
Utah-based SkyWest Airlines will cut 15 jobs at Fort Wayne International Airport after it lost a ground-handling contract, reports The Journal Gazette, citing a Worker Adjustment and Retraining Notice filed with the state. The job cuts, which include customer service and ramp agents, are slated to begin in April.
At least the lawyer got the same last name right. New York Times reporter Alex Berenson was able to break the story last week that Eli Lilly and Co. was secretly negotiating a $1 billion settlement with the government because an outside Lilly lawyer accidentally emailed him the details. The lawyer at Pepper Hamilton in […]
Electric streetcars are an old idea that should be brought back, some civic leaders believe.
IBJ reporter Chris Oâ??Malley writes today that heavyweights including Indiana Convention and Visitors Association
President Bob Bedell are backing a not-for-profit called Downtown Indianapolis…
Some top civic leaders have quietly created a not-for-profit organization to study and build a streetcar “circulator” system downtown. Downtown Indianapolis Streetcar Corp. would bring the electric vehicles to the streets for the first time since the 1950s. Notable members of the group include Bob Bedell, former president of the Indianapolis Convention & Visitors Association, […]
The slowing economy and rising competition drove down overall profit for Kimball International Inc. in its second fiscal quarter. The Jasper furniture and electronics maker reported today that profit fell 41 percent in the period ended Dec. 31, to $4.2 million. The weakening economy prompted companies to cut back purchases of new furniture and office […]
Indianapolis developer Browning Investments is planning a business park on about 150 acres south of Mount Comfort Airport, said Dale Pfeifer, a developer with Browning. The site is north of County Road 300 North and west of County Road 500 West, and is to have four warehouses with space ranging from 270,000 to 753,000 square […]
Bob Knight leaves a tsunami-like wake wherever he goes. Even in retirement, the waves from his larger-than-life persona are being felt from Lubbock to Bloomington and beyond. The business impact of Knight’s retirement looms large locally. There are numerous central…
The Hoosier Veterans Assistance Foundation is renovating a two-story building near the Central Library to serve as its new headquarters. The not-for-profit group, which now is located at the former…
ArcelorMittal, the biggest steelmaker in northwest Indiana, is worried about the future of a railroad it uses to annually ship 5 million tons of steel and receive $2 million tons of raw materials. ArcelorMittal competitor U.S. Steel Corp. is selling most of the 198-mile EJ&E Railway, which serves industrial customers in the Chicago area, to […]
Author and former IUPUI dean Mark Rosentraub is writing another book.
This one, titled “Major League Winners,” focuses on the five U.S. cities he thinks have most successfully used sports as an economic…
