‘Epic’ losses hit hospitals Investment portfolios have shed millions, putting expansions on hold until recovery Financial reports trickling in from Indianapolis’ major hospitals show why the city’s health care building boom ground to a near halt this year. It ran into a wall of investment losses. A case in point: Indianapolisbased Clarian Health suffered a […]
The 32-year-old developer Lauth Group Inc. likely will survive in some form if the company can find financing to get it through a Chapter 11 reorganization and if the real estate market doesn’t take too long to turn around, experts said. The developer of more than $3 billion in projects has scrambled this year to […]
Financial reports trickling in from Indianapolis’ major hospitals show why the city’s health care building boom ground to a near halt this year. It ran into a wall of investment losses. A case in point: Indianapolisbased Clarian Health suffered a whopping $633 million in losses on its investments and interest-rate swaps last year. That wiped […]
Former Indiana Pacers executive David Kahn has surfaced as the leading candidate to replace Kevin McHale as Minnesota Timberwolves general manager. Former Pacers player Fred Hoiberg is being considered for a vice president…
It’s not just residential home sellers facing increasingly brazen buyers these days. As the economy recedes, commercial brokers say a growing number of office, industrial and retail tenants are requesting steep rent reductions to cope with losses. “They’re in trouble and you feel for them,” said Danny Marr, a partner and principle broker with Veritas […]
Normal 0 false false false MicrosoftInternetExplorer4 Brightening news about the economy sent investors rushing into stocks today and sent the Standard & Poor’s 500 index above the break-even point for the year. The S&P 500 soared 29.7 points to 907.23, an increase of 3.4 percent during the day and 0.44 percent for the year. The […]
Construction spending rose unexpectedly in March after five straight declines, as strength in nonresidential projects and government building offset a further slide in housing. The Commerce Department said today construction spending increased 0.3 percent in March, the best showing since a similar rise last September. Economists surveyed by Thomson Reuters had expected spending to drop […]
Critics say the Legislature’s plan to shore up the insolvent Indiana Unemployment Insurance Trust Fund places the bulk of the financial
burden on already ailing businesses with the least ability to pay.
Indianapolis residents have been passionate about Ritter’s handmade frozen custard ever since it debuted almost two decades
ago. But while the ice cream is sweet, the story of the former mom-and-pop company’s attempts to morph into something grander
is decidedly bitter. Now, New York-based TruFoods, which bought the company in May 2008, is trying to get the formula
right.
REAL ESTATE Local engineering company buys former CP Morgan HQ A local company that had planned to build a new headquarters at Anson, near Zionsvillle, decided instead to buy the former headquarters of the defunct home builder CP Morgan near 96th Street and Gray Road. Performance Services Inc., an engineering and construction company serving educational […]
This St. Patrick’s Day, Tru-Foods LLC executive Gary Occhiogrosso got an object lesson in why his company’s acquisition of Ritter’s Frozen Custard either could be a great opportunity or a royal pain-or both. He visited the chain’s ill-starred 10450 Allisonville Road location on a blustery March day. The shop, which sits in the middle of […]
The Legislature’s plan to shore up the insolvent Indiana Unemployment Insurance Trust Fund places the bulk of the financial burden on already ailing businesses with the least ability to pay. That’s the assessment of the Indiana Chamber of Commerce and Indiana Manufacturers Association, which are howling in protest at Gov. Mitch Daniels’ refusal to veto […]
Unemployment rates rose in all of the nation’s largest metropolitan areas for the third straight month in March, with Indiana’s Elkhart-Goshen region once again logging the biggest gain. The Labor Department reported today that all 372 metropolitan areas tracked saw jobless rates move higher last month from a year earlier. Elkhart-Goshen’s rate soared to 18.8 […]
The U.S. economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in exports in 40 years overwhelmed a rebound in consumer spending. The Commerce Department’s report, released today, dashed hopes that the recession’s grip on the country loosened in the first […]
When Ed Pegler was laid off from his highway construction job four months ago, the 47-year-old father of two didn’t know when he’d be back to work. Then the phone rang. There was a job, paid for by the federal stimulus law. It’s a story the White House hopes to repeat 3.5 million times, to […]
Thousands of union workers packed the Statehouse yesterday to protest proposed cuts in jobless benefits as lawmakers try to compromise on legislation to fix Indiana’s bankrupt unemployment insurance fund. Republicans who control the Senate have proposed a plan that would increase employer taxes, reduce benefits for most jobless claimants and tighten eligibility standards. Democrats who […]
Construction workers gathered in Indianapolis for a midday rally at the Indiana Statehouse to protest proposed cuts in unemployment insurance benefits. Lawmakers have been trying to come up with a solution for the state’s unemployment insurance fund, which has been paying out hundreds of millions of dollars more in benefits than it has been collecting […]
Construction workers are gathering in Indianapolis today for a midday rally at the Indiana Statehouse to protest proposed cuts in unemployment insurance benefits. Lawmakers have been trying to come up with a solution for the state’s unemployment insurance fund, which has been paying out hundreds of millions of dollars more in benefits than it has […]
Supporters of a proposal that would set Indiana’s first comprehensive renewable energy policy are watching closely as the legislative session enters its final days, although key lawmakers aren’t optimistic that the measure will pass. Indiana is the only state in the Upper Midwest without a renewable energy standard – a policy that sets a specific […]
Westfield Mayor Andy Cook is proposing a $60 million youth sports complex with a 4,000-seat multipurpose outdoor
stadium, indoor sports facilities and sports fields with the goal of establishing the Hamilton County community as the "Family Sports Capital
of America."
