Indianapolis construction biz relocates subsidiary to Lebanon
Johnston Quick Mix is an operating unit of Indianapolis-based Mattingly Concrete Inc., which was founded in 1987 by Dan and Liz Mattingly.
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Elanco CEO says ‘another level of urgency’ needed to improve downtown
Speaking during a luncheon hosted by the Economic Club of Indiana on Wednesday, Elanco CEO Jeff Simmons addressed downtown’s struggles with homelessness, infrastructure, talent attraction and retention, and real estate.
Indiana Senate panel advances bill protecting donor privacy
Not-for-profit organizations in Indiana would be permitted to keep the identity of their members and donors secret under a bill now advancing through the Indiana General Assembly.
AES Indiana agrees to chop cost to customers of plant outages by $57M
Indianapolis-based utility AES Indiana has agreed to reduce the amount it will charge customers for costs related to the breakdown of its newest power plant from $71 million to $13.7 million under a settlement agreement approved Wednesday by state regulators.
ACLU drops court challenge to Indiana trans sports ban
The ACLU said it stands by its arguments that the Indiana law violates federal Title IX protections—and indicated that it could file future legal challenges on behalf of other transgender students.
Microsoft layoffs suggest broader pain to come for economy
The tech giant is the latest to cut workers amid economic uncertainty that has taken a heavy toll on the tech, finance, media and housing sectors.
Fed’s Mester: Rate hikes have begun to quell U.S. inflation
Loretta Mester, a key Federal Reserve policymaker, said further rate hikes are still needed to decisively crush the worst inflation bout in four decades.
December retail sales fall 1.1% as inflation takes toll
Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season.
Downtown’s Allen Plaza sold to local investment group
The building’s 58,800 square feet of office and retail space is now mostly vacant, following exits in recent years by Scotty’s Brewhouse, HomeAdvisor and third-party logistics company Backhaul Direct.
Indy 500 Snake Pit concert lineup includes DJs Kaskade, Shaquille O’Neal
Seven-time Grammy Award nominee Kaskade will headline the 18-and-older party on race day in May at the Indianapolis Motor Speedway. Basketball Hall of Famer O’Neal also is on the five-act bill.
Wholesale inflation in U.S. eased further in December
The ongoing slowdown in wholesale price growth is adding to evidence that the worst bout of inflation in four decades is steadily easing, though it remains far above the Federal Reserve’s target of 2%.
Microsoft laying off 10,000 as job cuts in tech sector spread
The company said in a regulatory filing Wednesday that the layoffs were a response to “macroeconomic conditions and changing customer priorities.”
Bill seeking elimination of township assessors advances to House chamber
Currently, there are 13 township assessors in nine different Indiana counties. The remaining 83 counties only have a county assessor.
Lilly plans to construct 12 buildings at LEAP campus in Boone County
The company’s more detailed plans for the project reveal the 12 buildings would range in size from a 3,200-square-foot visitors center to a pair of three-story, 330,000-square-foot manufacturing facilities.
Indianapolis Public Library brings in temporary outside executive
Anita J. Harden, founder of Interim Executives LLC and a former president of Community Hospital East, will be a contractor for up to a year, and the library system will pay her up to $190,000 for her services.
Indiana horse racing a $2B industry, study finds
Indiana’s horse racing industry has more than doubled in economic value in the past decade, according to a study led by Purdue University.
DOJ offers 75% reduction in fines to companies that admit crimes
In some cases, companies could avoid any fines when they voluntarily disclose misconduct, cooperate with investigations and fully prevent the problems from recurring.
United Airlines posts $843 million profit, bullish on 2023
The report from United comes on the heels of upbeat comments by its closest rivals, Delta Air Lines and American Airlines. Officials with all three carriers say that consumers are still booking travel despite concern about the economy.
Small retailers could seek fighting chance under Roosevelt-era antitrust law
For years, Robinson-Patman was a mainstay of FTC enforcement. But the law fell out of favor as antitrust experts focused on consumer prices, arguing that retailer discounts would likely be passed on to consumers.
City to spend $4.5M on program to raise Black homeownership
The Vacant to Vibrant initiative, announced Tuesday, will utilize about 100 lots in several neighborhoods that have fallen into disrepair and are held in the city’s land bank.