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Vectren Corp. reported profit of $17.1 million in its third quarter, a 42-percent increase over the year-ago period. Revenue rose 12 percent, to $381.4 million. The Evansville-based energy company attributed the increases to more air-conditioner use and its first electric base rate increase in 12 years. Vectren provides utility service to most of the Indianapolis […]
David Long, the Indiana Senate’s President Pro Tempore, has hired Barnes & Thornburg associate attorney Jeffrey L. Papa as his first chief of staff. Papa also will be the Fort Wayne Republican’s chief legal counsel. Papa has held several positions with the Senate Republicans. A economics major at Rose-Hulman Institute of Technology, the Zionsville resident […]
Indianapolis-based Goelzer Investment Management has sold its business valuation and corporate financial advisory service unit, Goelzer Investment Banking, for an undisclosed price. The buyer, GBQ Partners LLC of Columbus, Ohio, is the largest such accounting and consulting firm in the state. It is led by former Goelzer professional Robert Stutz. “Goelzer has been and always […]
A shakeup continues for street-level retail on Washington Street downtown. Panda Express plans to close its store in the former Roselyn Bakery at Washington and Pennsylvania streets, and a deal is…
Connextions Inc. of Orlando, Fla., will locate a secure customer support center in Jeffersonville, creating 750 jobs, the Indiana Economic Development Corp. announced this afternoon. The $6 million project in the southern Indiana city will be similar to locations the company operates in Orlando and Concord, N.C. Connextions employs a total of 2,000. The company […]
CEO Jim Prieur is accentuating the positive after Conseco Inc.’s latest quarterly loss. But Wall Street investors concentrated on the negative this morning, punishing the Carmel-based company’s shares yet again. “We’ve been through some of the pain and now we’re coming out the other side,” Prieur said in an interview last night. “The gross number doesn’t […]
A 2,000-home housing development planned for near Bargersville south of Indianapolis has been delayed until next year, according to the Daily Journal of Franklin. Developer Mike Duke said five other projects he is working on must be finished before starting the Abbey, which is to have single-family houses, townhouses, condominiums and a golf course. If […]
Wabash National Corp. reported third-quarter profit of $3.8 million, down 24 percent from the year-ago period. Sales in the period ended Sept. 30 were $291 million, nearly 20 percent lower than last year. The Lafayette-based maker of semi-truck trailers echoed sentiment expressed last week by Indianapolis trucking firm Celadon Group Inc., which said a soft […]
Sounding downright Greenspanian, economists at Indiana University’s Kelley School of Business said this morning they are “cautiously optimistic” that 2008 will be a year of modest growth. The U.S. economy will grow 2.5 percent, less than the 3 percent they expected for 2007, they said during the business school’s annual breakfast meeting downtown. Indiana’s economy […]
Duke Realty Corp. reported late yesterday that funds from operations in the third quarter increased 4.6 percent, to $93.7 million. The 68 cents per share exceeded the 67-cent average anticipated by analysts surveyed by Thomson Financial. Late last month, Indianapolis-based Duke, one of the nation’s largest industrial real estate investment trusts, said its leases hit […]
Developer Rivalry: Locally based developers Duke and Lauth, headquartered on opposite sides of I-465 just east of Meridian Street, have cultivated quite a rivalry over the years. The latest win goes to Lauth. The company won a side-bet in a…
A couple of nuggets from recent development plans:
Making Way for Venu: Another Woodfield Centre tenant is moving to make way for redevelopment. Elan Furs has filed plans to take space in Clearwater Shoppes…
Stephen Hilbert’s private equity firm is providing some of the $1 billion in financing that Indianapolis-based Centaur Inc. has assembled to fund “racino” projects in Anderson and near Pittsburgh. Centaur this afternoon said it had closed on the financing, which will fund the addition of 2,000 slot machines at Hoosier Park in Anderson. Included in […]
Veriana Networks Inc., a startup specializing in technology, media and risk management for the entertainment industry, plans to announce this afternoon that it will create 280 jobs by 2012 in its headquarters city of Marion. Veriana will locate in a 252-acre lifestyle project also to be announced at a news conference in the city north […]
Holladay Properties and the Indiana Wildlife Federation plan to dedicate the state’s first “Certified Wildlife-Friendly Development” at an event tomorrow. The 1,500-acre AmeriPlex Business Park, southwest of the Airport, won the designation by…
Quest for the Ring has suddenly taken on new meaning for Indianapolis Colts fans. The phrase now has as much to do with a raffle, treasure hunt and half-time reality show as it does with the team’s pursuit of a repeat Super Bowl championship. At noon today, Colts owner Jim Irsay announced the team will […]
Berry Plastics Group Inc., an Evansville-based maker of plastics cups, announced today it will build a $20 million global headquarters and create 250 jobs. The move follows its March consolidation with Covalence Specialty Materials Holding Corp. of Bedminster, N.J. The headquarters will be at 101 Oakley St. in downtown Evansville. Berry received nearly $5 million […]
ImmuneWorks has received a $300,000 investment from Indiana Seed Fund I to help the Indianapolis company research a manufacturing process for a drug it is developing to fight idiopathic pulmonary fibrosis, a lung disease. The fund is managed by BioCrossroads, the not-for-profit that promotes the life sciences industry in the state. Founded last year by […]
State officials are challenging a $7-million assessment for a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium. The state has launched eminent domain proceedings, and the owner isn’t…
Eli Lilly and Co has agreed to buy rights to an experimental compound for the treatment of various pains, including pain associated with osteoarthritis, from Glenmark Pharmaceuticals Ltd India. Lilly will pay a $45 million upfront fee as well as up to $215 million more in potential development and sales milestones, plus royalties. The compound, […]
