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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 […]

Shipments of recreational vehicles are on track this year to fall for the first time since 2001, when the last recession ended, and the downturn is prompting experts to wonder if another recession could be on the way, according to Bloomberg. Recessions in the early 1980s, early 1990s and 2001 each were preceded by two […]

The Defense Finance and Accounting Service in Lawrence is expected to gain some of the more than 600 jobs scheduled to be eliminated from a similar base in Kansas City, Mo., when it closes in August 2008, according to the Kansas City Star. The Kansas City base, which provides accounting for all military branches, is […]

Cspine Inc., a startup orthopedic and dental device maker based in Plymouth, plans to launch research and development and prototype manufacturing operations in the northern Indiana town, the Indiana Economic Development Corp. said today. The move is expected to create as many as 49 jobs over the next five years. Cspine will spend about $3 […]

A second railroad has said it isn’t interested in building an intermodal facility in LaPorte County in northwestern Indiana. The Canadian National Railway expressed its lack of interest this week, according to the Post-Tribune of Merrillville. Last week, CSX Corp. announced it would build an intermodal site in northwestern Ohio and would not pursue one […]

Federal prosecutors have issued a subpoena to Genesco Inc., a move that suggests they’ve launched an investigation into allegations that the Tennessee company hid financial problems before agreeing in June to be acquired by The Finish Line Inc. for $1.5 billion. Genesco revealed late Monday afternoon that it had received the subpoena from the U.S. […]

A Boston-area developer has sued the University of Notre Dame and several other universities and foundations, claiming they violated a Massachusetts law that forbids charging interest rates greater than 20 percent. Notre Dame – along with Harvard, Yale and Princeton universities, among others – invested in Realty Financial Partners, an entity that made $16.7 million […]