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.
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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 […]
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 […]
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 […]
ChaCha raises $12M, but cuts pay, jobs-WEB ONLY
ChaCha Search Inc. said yesterday that it has raised $12 million in equity financing, which will allow the Carmel company to ramp up its advertising sales and support its newly opened New York office. The company also disclosed that it had eliminated 25 jobs, shrinking its work force to 56. Several executives – including two […]
‘Extreme’ build project draws rush of volunteers-WEB ONLY
More than 60 companies and 650 people have volunteered to donate labor, supplies and materials to help The Estridge Cos. build a new home for an Indianapolis-area family as part of the popular TV show “Extreme Makeover: Home Edition.” Since organizers announced Estridge’s participation in the show on Monday, the Carmel-based home builder has been […]
UPDATE: ChaCha raises $12M, but cuts pay, jobs-WEB ONLY
ChaCha Search Inc. said yesterday that it has raised $12 million in equity financing, which will allow the Carmel company to ramp up its advertising sales and support its newly opened New York office. The company also disclosed that it had eliminated 25 jobs, shrinking its work force to 56. Several executives – including two […]
Local software firm announces expansion-WEB ONLY
Carmel-based software firm Information Systems Experts LLC plans to expand its operations and create up to 10 new positions, the firm announced this morning. The company said it would invest more than $287,000 to upgrade equipment at its 8,000-square-foot headquarters in Carmel. ISE received a $21,000 grant from the state’s Skills Enhancement Fund to train […]
ChaCha raises $12M, cuts jobs-WEB ONLY
ChaCha Search Inc. said today that it has raised $12 million in equity financing, which will allow the Carmel company to ramp up its advertising sales and support its newly opened New York office. The company also disclosed that it eliminated 25 jobs, shrinking its work force to 56. This isn’t ChaCha’s first belt-tightening. Late last year, […]
Troubled Conseco delays annual filing-WEB ONLY
Conseco Inc. today delayed for another two weeks the filing of its annual report while it continues to provide information and analysis to try to satisfy concerns its auditor has about the company’s health. Carmel-based Conseco announced March 2 that its auditor, PricewaterhouseCoopers LLC, might issue a “going concern” warning in Conseco’s annual report because […]
Estridge tapped by ‘Extreme Makeover’-WEB ONLY
The Estridge Cos., a well-known Carmel-based residential construction firm, is teaming with popular TV show “Extreme Makeover: Home Edition” to build a home for an Indianapolis-area family. Representatives from Estridge and Indianapolis Mayor Greg Ballard discussed the partnership this morning at a press conference at the City-County Building. The Indianapolis episode of “Extreme Makeover: Home […]
Estridge tapped by ‘Extreme Makeover’-WEB ONLY
The Estridge Cos., a well-known Carmel-based residential construction firm, is teaming with popular TV show “Extreme Makeover: Home Edition” to build a home for an Indianapolis-area family. Representatives from Estridge and Indianapolis Mayor Greg Ballard were scheduled to discuss the partnership this morning at a press conference at the City-County Building. The Indianapolis episode of […]
Investment losses leave Conseco searching for $400M in horrible environment to raise capital
Without fresh capital â?? or loosened debt obligations â?? Carmel-based Conseco could find itself in bankruptcy or looking
for a buyer or both.