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The Fort Wayne City Council has approved the city’s purchase of Aqua Indiana Inc., a water and sewer utility owned by Pennsylvania-based Aqua America Inc. Fort Wayne City Utilities has offered $16.9 million for the private utility, although the seller says the price is too low. The city says it is taking over the utility […]

About three months after the Indiana Fiscal Policy Institute quietly closed its doors, the board has decided to make a comeback with a new leader charged with fewer duties. Board President Bob Kraft said the organization hopes to hire an executive director – who will oversee research and policy development – by February. Fund raising […]

Marriott International Inc., the Bethesda, Md., hotel chain, plans to construct a building near the Purdue University campus in West Lafayette that will house two hotels, the city announced Nov. 27. The building, which is to be completed by December 2009, will have a 151-room Spring Hill Suites and a Fairfield Inn & Suites with […]

A chunk of the Midwest saw economic growth slow in October and early November, the Federal Reserve Bank of Chicago said yesterday in its Beige Book report. However, even though businesses ratcheted back spending, spending by consumers was mixed. The report is issued eight times a year based on interviews and other means of gathering […]

Sam Zell, the Chicago billionaire who in April paid $8.2 billion to win a bidding war for Chicago Tribune parent Tribune Co., has accumulated more stock in Jefferson barge builder American Commercial Lines Inc. Nine of Zell’s affiliates, including Chai Trust Co., increased their position to 25.5 percent of American Commercial Lines, from 24.5 percent […]

Profit in Fortune Industries Inc.’s fiscal fourth quarter rose to $602,000, from $536,000 in the same period a year earlier, the Indianapolis-based technology holding company reported today. Revenue in the period ended Aug. 31 fell 9.8 percent, to $43.1 million. For the fiscal year, the company lost $7.8 million on $158.3 million in revenue, partly […]

A German company that makes pipes, containers and other plastic parts for the auto, heating and medical industries is opening a plant in New Castle because the weak value of the American dollar lowers the cost of the investment. Founder Claus Koetke told The Star-Press of Muncie that he located the facility in the eastern […]

Former Conseco Inc. CEO Steve Hilbert says he isn’t the as-yet-unidentified individual who has reached an agreement to buy the Carmel mansion that he built in the 1990s. “We are not involved whatsoever in the purchase,” Hilbert told IBJ. “I have people on the street every day say, ‘Hey, are you going to buy that […]

OneAmerica Financial Partners Inc. says it has reached an agreement to provide administration and marketing for a big Japanese insurer that’s entering the medical stop-loss market in the U.S. Locally based OneAmerica’s agreement with a subsidiary of Nippon Life Insurance Co. takes effect Jan. 1. Medical stop-loss insurance limits losses on self-funded insurance plans. A […]

Stock in Tennessee-based Genesco Inc. is down nearly 11 percent today after the mall retailer revealed late yesterday that federal prosecutors had issued it a subpoena. The shares rallied briefly early this morning, and then fell $3.27, to $26.90. The move by the U.S. Attorney’s Office for the Southern District of New York suggests the […]

William Crouse Jr., 39, of Greenwood, has been sentenced to 57 months in jail after he pleaded guilty to embezzling health care premiums and laundering money through his company, TRG Marketing. The company sold health care coverage through TRG Health Plan. Crouse embezzled more than $1 million of premiums, using about half of it to […]