Struggling tenants leave aging Merchants’ Square
The future of Carmel’s Merchants Square mall is uncertain because of the rise of competitors.
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Benefits mergers on the increase
Benefits brokers and agents—facing increasing demands from employers and declining commissions—are merging at an
accelerating
pace.Indy Power drops electric-car focus for more lucrative control boxes
After a stint making parts for electric cars, Symphony Motors recently became Indy Power Systems, changing course to make power control boxes for a variety of vehicles and also industrial and military applications.
Analysts lower outlooks for Allison, say transmission maker vulnerable to default
Local manufacturing stalwart Allison Transmission will have to restructure its more than $4 billion in debt or further cut
expenses if it’s going to weather the recession.A new generation takes over Glick apartment empire
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
Franchisors also feel recession’s financial pinch
About two dozen franchises based in Indiana are not immune to difficulties during the recession.
LOAN APPROVALS
LOAN APPROVALS SBA loans SBA loan guarantees for the month of February. These businesses have received loans from financial institutions with a guarantee from the SBA. Not all funds are disbursed immediately. Furthermore, some approved loans are subsequently canceled. Berman Endodontics LLC, 16407 Southpark Drive, Westfield, $25,000 from The Huntington National Bank. Creative Roots Design […]
Small business banks on IT backup
BlueLock provides IT infrastructureâ??or serversâ??to companies for loading software applications, and the startup is growing at a fast rate.
.Back in the game-WEB ONLY
For almost 20 years, the Gene B. Glick Co. has been a sleeping giant. The state’s largest owner and manager of apartments spent much of the 1960s through the 1980s building a massive portfolio of apartment communities, mostly for low-income residents. The empire had grown to 100 properties and 18,000 total units across 10 states […]
Allison plagued by debt-WEB ONLY
Local manufacturing stalwart Allison Transmission will have to restructure its more than $4 billion in debt or further cut expenses if it’s going to weather the recession. That’s the conclusion of analysts at Moody’s and Standard and Poor’s, which have issued negative outlooks for Allison, the top commercial truck-transmission supplier. “The downgrades reflect our concern […]
Small Business Profile: BlueLock-WEB ONLY
What Blue-Lock does is complicated:It provides what is known as “virtual cloud computing.” So when Vice President Brian Wolff explains the concept, he simplifies it-by using Legos. He puts down one block to represent a computer server. “In the old world,” he says, “you’d put a physical server in place and then you would load […]
Road less traveled suits Indy Power-WEB ONLY
By 2007, the technology for electric cars had evolved such that banker Steve Tolen had formed a company to build and sell one using off-the-shelf parts. Or so he thought. He couldn’t find a power control system that could handle the mix of different battery types he wanted for his electric car. Without that mix, […]
Conseco seeks to change credit agreement-WEB ONLY
Conseco Inc., at risk of violating its main credit agreement, has asked its senior secured lenders to waive restrictions on their $912 million in loans, the company announced today. Conseco, a Carmel-based life insurer, indicated in a statement that it would pay a higher interest rate on the loans in exchange for its lenders relaxing […]
Judge cuts bond in securities fraud case-WEB ONLY
A woman charged with defrauding clean-coal project investors of more than $2.5 million will be released from jail after a judge significantly lowered her bond. A Marion County judge agreed today to allow 50-year-old Dorothy Geisler-Tragardh’s release on a $50,000 surety and $30,000 cash bond, down from a $1 million cash bond. Defense attorney Mark […]
Carmel school board votes to cut 19 teachers-WEB ONLY
The Carmel Clay School Board voted last night to cut $1.5 million from its $90 million budget by laying off 19 teachers. School officials hope federal stimulus money will help them recall many of those teachers when classes begin again in August.
Judge cuts bond in securities fraud case-WEB ONLY
A woman charged with defrauding clean-coal project investors of more than $2.5 million will be released from jail after a judge significantly lowered her bond. A Marion County judge agreed today to allow 50-year-old Dorothy Geisler-Tragardh’s release on a $50,000 surety and $30,000 cash bond, down from a $1 million cash bond. Defense attorney Mark […]
California investor snapping up local properties-WEB ONLY
A California-based investor has purchased an 88-unit apartment complex in Brownsburg, his latest in a series of multi-family housing acquisitions in the area. Michael James of Walnut Creek, Calif.-based James Multi-family Group bought the Dublin Glen apartment building at 510 N. Enderly Ave. near I-74 for $3.4 million. Steve LaMotte, Amy Burmeister and Dane Wilson […]
Carmel school board to consider job cuts-WEB ONLY
The Carmel-Clay school board will vote tonight on a new budget plan that could cost some 19 employees their jobs. Board members need to figure out a way to cut $1.85 million from their $90 million budget. Fox 59 will have more at 10 p.m.
Judge grants injunction freezing woman’s assets-WEB ONLY
A Hamilton County woman accused of swindling investors in a clean coal energy startup agreed yesterday to an injunction that freezes her assets, including artwork by Pablo Picasso, jewelry and a luxury waterfront home. The agreement in Marion Superior Court makes permanent a temporary restraining order issued last week by Judge Patrick McCarty following a […]
Judge grants order freezing woman’s assets-WEB ONLY
A Hamilton County woman accused of swindling investors in a clean coal energy startup agreed today to an injunction that freezes her assets, including artwork by Pablo Picasso, jewelry and a luxury waterfront home. The agreement in Marion Superior Court makes permanent a temporary restraining order issued last week by Judge Patrick McCarty following a […]