Memphis-based Lenny’s Sub Shops announced today that it will open 28 sandwich shops in the Indianapolis area, beginning this spring in Avon and Carmel. Franchisee SamStorm Subs will locate 15 in Marion County, three in Hendricks County, and five each in Hamilton and Tippecanoe counties. Founded in 1998, the company has 700 locations in 18 […]
Appliance makers and other suppliers to the housing industry might feel the ripple effect of the housing downturn through the end of this year, according to a Bloomberg report. Sales of new and existing houses fell nearly 10 percent last year, though many observers believe the worst is over for the sales decline. The industry, […]
He’s held off Conseco’s attorneys longer than anyone else. And if he can get to a jury, he’s confident he can win. Dennis E. Murray Sr., a colorful trial lawyer from Ohio, likely will be the last man standing in Conseco’s 3-1/2-year assault on a group of its former directors and officers who failed to repay hundreds of millions of dollars borrowed to buy Conseco stock. The Carmel-based insurance firm has settled with nine of the 11 borrowers in that…
Two massive developments with sizable retail components along the Interstate 69 corridor in Hamilton County are helping to spur the construction of several nearby distribution centers. The light industrial space rising near Fishers and Noblesville is unlike the monstrous warehouse projects prevalent west of Indianapolis in Plainfield and popping up within the Anson project near Whitestown. They instead are mediumsize warehouse or showroom space meant for small businesses expected to populate Hamilton Town Center and Saxony at the Exit 10…
The new owners of Keystone at the Crossing and Precedent Office Park-two prominent, but aging, business parks on the city’s north side-are undertaking major projects to stay competitive amid a rising glut of office space. Both office complexes became popular corporate addresses after their development in the 1980s and enjoyed near-maximum occupancy throughout much of their history. But vacancy rates at the high-profile parks have begun to climb in recent years. Indianapolis-based commercial real estate investment manager HDG Mansur, on…
Masco Corp. said today it will slash 8,000 jobs—about 16 percent of its domestic labor force—due to a weak housing market. Masco, based in Taylor, Mich., owns Delta Faucet Co., which is headquartered in Carmel and operates a large faucet manufacturing plant in Greensburg southeast of Indianapolis. About 1,000 of the layoffs will be white-collar […]
Carmel-based N/Frame, an Internet and hosting provider, said today that it has been acquired by Continental Broadband of Norfolk, Va., for undisclosed terms. N/Frame Chief Operating Officer Bob Alcorn said its owners, the Dunigan family of Evansville, felt it was better to find a buyer than undertake an expansion that would have required extensive investment. […]
Certain days of the year are always popular for weddings. Nothing can beat the romance of a Valentine’s Day nuptials or the fun of a New Year’s Eve ceremony. But this year, couples have a once-in-alifetime opportunity to tie the knot on a unique day-July 7, 2007, or 7/7/7. Whether brides and grooms are choosing the date for luck or the ease of remembering their anniversary, July 7, which happens to be a Saturday, is turning out to be one…
A handful of bills pending in the General Assembly could have a major impact on Indiana’s high-tech sector. Legislation under consideration could stimulate increased commercialization of patented Indiana technology, channel more money toward development of alternative fuels, require regular review of Indiana’s certified technology parks, and more. Tech leaders are optimistic about the chances their agenda will be approved. “It’s the reason we married up with CICP,” said Ron Brumbarger, chairman of TechPoint, a trade association for Indiana high-tech companies….
At least 35 new bank branches have sprouted in Hamilton County in the last three years, and more are on the way. Familiar
names like Charter One and Chase have added eight and seven branches, respectively. Other institutions are entering the market.
Big-name restaurants scouting for Indianapolis locations have snubbed the south side for years. Eateries like Champps, Cheesecake Factory and Rock Bottom Brewery headed north, drawn by upscale developments and affluent neighborhoods, or downtown to capitalize on the high-traffic from convention visitors. But now, more high-end restaurants are showing interest in the south side, local retail brokers say. Among the chains looking are Fox & Hound, Champps and Old Chicago, a pasta and pizza concept that’s part of the Rock Bottom…
The discussions leading to the sale of Adesa Inc. were frenzied and wild. But was the final price-$27.85 a share in cash, or a total of $2.5 billion-as high as it should have been? A disgruntled individual investor says no, and is suing the Carmel-based autoauction firm in hopes of blocking the deal and collecting damages. The suit, filed in mid-January by the Delaware-based law firm Rosenthal Monhait & Goddess, seeks class-action certification. Moreover, two other Adesa shareholders-Royce & Associates…
Delta Faucet, which is headquartered in Carmel, laid off 70 full-time and temporary workers at its sprawling Greensburg plant due to anticipated softness in house construction. The action followed a December layoff of 59 Delta temp workers in the city between Indianapolis and Cincinnati. The company, owned by Masco Corp. of Taylor, Mich., attempted to tamp […]
Delta Faucet, which is headquartered in Carmel, laid off 70 full-time and temporary workers at its sprawling Greensburg plant due to anticipated softness in house construction. The action followed a December layoff of 59 temp workers. The company, owned by Masco Corp. of Taylor, Mich., attempted to tamp down festering fears of an outright closure […]
Commercial and residential development near the Honda Motor Co. car assembly plant at Greensburg has been thrown into limbo because of a dispute over who will control water lines in the development area. Decatur County Rural Water Corp., the water district that serves the development area, relies on water supplied by the city of […]
Small-business owners aren’t nearly as optimistic about 2007 as they were heading into last year, thanks to a slowing economy and lower spending rates, a report from the National Federation of Independent Business shows. Still, many small businesses in Indiana and elsewhere expect to grow steadily and add to their work forces in 2007. In the next three months, 14 percent of small businesses plan to create jobs and 26 percent plan to make a capital expenditure, the NFIB says….
Announcements that major Indiana companies have been acquired are traditionally met with trepidation. But a rash of recent
buyouts of Indiana companies shows they’re not always bad news.
Many CEOs take the word “retirement” figuratively, using the opportunity to become a full-time volunteer or to launch a second career. Don’t count 65-year-old Rene Champagne among those people. “I’ll be pursuing the leisure activities-like golf, tennis, fishing, traveling with my wife-that I don’t have time to do as CEO,” said the CEO and chairman of ITT Educational Services Inc., who announced Jan. 24 that he’s retiring from the Carmel-based company. Although he plans to remain in Indianapolis, “I don’t…
ITT Educational Services Inc. today reported fourth-quarter profit of $40.9 million, and $118.5 million for the year—up about 8 percent for both periods. During the year, the Carmel-based technical school operators opened 11 schools and said it plans to launch six to eight in 2007. Yesterday, ITT announced that Rene Champagne would resign as CEO […]
Rene Champaigne is retiring as CEO of ITT Educational Services Inc. in April after pushing the value of stock in the Carmel company to $70 a share from virtually nothing a decade ago. Champagne, 65, has been chief executive since 1985. He will remain chairman and be paid an annual salary of $560,000, according […]
