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Huntingburg-based OFS Brands Holdings Inc. officials said today they plan to spend $81 million to expand its southern Indiana headquarters and manufacturing facility and hire more than 300 workers over the next five years. OFS, which makes and distributes office furniture, has about 1,500 employees in Indiana. It will begin hiring production associates, supervisors, upholsters […]
June McCormack, the top-ranking executive at Sallie Mae's Fishers operation, is leaving the student loan giant, according to a filing with the Securities and Exchange Commission. The company and McCormack are negotiating a severance agreement, the company's Dec. 12 SEC filing said, but her departure date was not disclosed. McCormack has led the 2,300-employee Fishers […]
The Piano Merchant is closing after almost 22 years in business at the corner of 54th Street and College Avenue, IBJ’s Property Lines blog reports. One of the three partners is ill and another is ready to retire, said Doug Lawson, the store’s general manager and the third partner. The group closed its Carmel store […]
West Lafayette-based Bioanalytical Systems Inc. had its first profitable year in four years, posting a gain of $926,000 for the 12 months ended Sept. 30. Revenue in the fiscal year increased 5 percent to $45.2 million. The company has been struggling after losing a large customer in Baltimore. Over the past year, it laid off […]
The Piano Merchant is closing after almost 22 years in business at the corner of 54th Street and College Avenue. One of the three partners is ill and another…
City officials have agreed to pay $48.5 million of the $300 million cost of building a 1,000-room JW Marriott hotel in downtown Indianapolis, but a profit-sharing agreement that is part of the deal isn’t likely to yield payments for the city, a hotel industry expert said. Developers of the convention hotel signed a final deal […]
The holiday movie season started for me with a sneak of “The Kite Runner,” continued with the flawed-but-fascinating “No Country for Old Men,” took me through the nail-biting “Before the Devil Knows You’re Dead,” sidetripped into the domestic drama “The…
The former Colgate-Palmolive Co. plant in Clarksville could house a new casino if efforts to transfer one of the state’s 11 gaming licenses are successful, reports the hometown News and Tribune. Sen. Bob Meeks, of LaGrange, has authored a bill that could move an unnamed casino from Gary to the one-time state prison in southern […]
Merrillville-based NiSource Inc. plans to spin off one of its natural gas pipelines into a new company. NiSource hopes to raise $235 million in an initial public offering of 12.5 million shares of NiSource Energy Partners LP. The new firm will own the 3,400-mile Columbia Gulf Transmission pipeline that extends from the Gulf of Mexico […]
Elkhart-based Forest River Inc., which makes recreational vehicles, boats and buses, has cut 40-50 jobs, reports the South Bend Tribune. The affected workers were among those who make diesel motor homes. The company, one of Elkhart County’s largest employers, had 4,700 employees at the start of the year. Production had been falling off since an […]
Aqua Indiana Inc., a unit of Pennsylvania-based Aqua America Inc., has bought Western Hancock Utilities LLC for about $5 million. Western Hancock Utilities, which provides wastewater services in western Hancock County, serves about 50 businesses and 2,500 residents in the Mount Comfort area. It will be managed out of Aqua Indiana’s office on the northeast […]
Noble Roman's Inc. wrote an impressive comeback story by selling its home-grown pizza and subs concepts to hundreds of
gas stations, bowling alleys and food courts. But the Indianapolis company’s push to add stand-alone restaurants across the
country isn’t going as smoothly.
For the past week or so, I have been flooded by phone calls from colleagues in Illinois and Michigan, chortling over a new marketing campaign launched by Hoosiers. The privately financed billboards and radio spots ask businesses and residents whether they are tired of high taxes and unresponsive government. If so, they are invited to “Come on IN” to Indiana. It’s high-order fun this holiday season. Indiana sits as a small island of growth in the Midwest, and it is…
WASHINGTON – The economy sprinted ahead at its fastest pace in four years during the summer, although it is expected to limp through the final three months of this year as the housing and credit debacles weigh on individuals and businesses alike. The Commerce Department reported Dec. 20 that gross domestic product grew at a 4.9 percent pace in the July-to-September quarter, unchanged from an estimate made a month ago. The performance was especially impressive given that the housing market…
All I want for Christmas is my two front teeth … if, perhaps, I were a member of the Indiana Ice. Who are playing pretty well, by the way. But there are other things in the realm of sports I would include on my list. All I want for Christmas is for those cheatin’ dog New England Patriots to have their comeuppance. Preferably from the Indianapolis Colts. In Gillette Stadium. In a driving snowstorm. In the AFC Championship. All I…
Employees at two Indianapolis hotels have begun a push to unionize-a move that, if successful, would make the properties the only union hotels in central Indiana. Several workers at the downtown Westin and the Keystone Sheraton have met with representatives of New York-based Unite Here, a labor group that represents about 440,000 hospitality and textile employees nationwide. Both hotels are part of Bethesda, Md.-based Host Hotels & Resorts Inc.’s global portfolio. Backers said a union is needed to raise wages…
Locally based Hammond Kennedy Whitney & Co. closed on $202 million in new capital this month, doubling its size. Its resources
have increased, but HKW’s investment philosophy is unchanged. It continues to buy small and midsize specialty manufacturing
companies, infuse them with cash and management expertise, then patiently wait for them to grow.
Lilly picks wisely at tough juncture Lechleiter well-groomed for top job Indianapolis’ business and civic leaders are rightfully worried about Eli Lilly and Co. these days. The entire pharmaceutical industry is under extraordinary pressure, in part because the blockbusters that have been its lifeblood aren’t gushing out of development pipelines anymore. Lilly faces the monstrous task of finding successors to its antipsychotic Zyprexa, whose U.S. and European patents expire in 2011-a milestone that’s expected to send the drug’s sales into…
I did my civic duty this month. I went to Hamilton Superior Court in Noblesville for jury duty. Like most people, I suspect, I sighed when I opened the envelope on the summons several weeks earlier. This will disrupt my life, I whined to myself. Even though I’d served on a Marion County jury for a criminal case several years before and enjoyed the experience, I wasn’t thrilled about being called. I’d been summoned earlier this year and had a…
In just over one quarter, shares of Celadon Group lost nearly half their value as profitable cargo got harder to find in a
slowing economy. The stock closed at $9.13 on Dec. 19, down from nearly $17 in late August.
