Y&L ad firm making ‘significant’ staff cuts
Young & Laramore is making what it says are “significant” staff cuts in the wake of losing the Steak n Shake account.
COMPANY NEWS
Indiana Venture Center shutting down
The Indiana Venture Center, a local not-for-profit that mentors Hoosier entrepreneurs and startup companies, is shutting its
doors.
Automotive Finance Corp. writes off $162 million, reflecting slow auto sales
Slowing auto sales have forced Carmel-based Automotive Finance Corp., which lends money to car dealers to buy used vehicles
at auction, to take a big write-off on the declining value of its loan portfolio.
Self-serve chili could help Charlie & Barney’s grow nationally
Charlie & Barney’s is quietly expanding into unorthodox niches, placing its product in unusual places — like convenience
stores.
HHGregg looks to grow as other consumer electronic businesses falter
HH Gregg has grown from a local to a national consumer electronic store chain and has its eye on expanding further, given
Circuit City’s bankruptcy filing.
California’s Blue Real Estate establishes local presence
Blue Real Estate, a California firm that made a bundle selling West Coast office buildings at the market’s peak, has been
buying up local buildings and trying to learn the Indianapolis market.
Retailers plan new locations
At a time when most retailers are cutting back, a few in the Indianapolis area are growing.
Former Conseco director liable for some unpaid stock loans
Dennis E. Murray Sr. was declared liable in October by U.S. District Court Judge Larry J. McKinney for at least some of the
millions of dollars he borrowed to buy Conseco stock in the late 1990s.
Steak n Shake seeks younger customers
Steak n Shake hopes to create buzz with its new marketing plan targeting youth.
Ingersoll-Rand donates time, money to IPS 94
Ingersoll-Rand donated $35,000 worth of materials, $15,000 for engineering and labor, and future support to IPS 94.
Schott design firm builds office clients through real estate connections
Jenny Schott Androne, the president and founder of Schott Design Inc., one of the city’s largest interior design firms, has
amassed a diverse array of clients largely by marketing to building managers and landlords, as well as leasing agents and
tenants.
Duke founder Wynne loses out using company stock as collateral
Retired businessman John Wynne, one of the founders of Duke Realty Corp., is the latest executive to get burned after using
company stock as collateral for a multimillion-dollar loan in his investment account.
Vista Graphic buys Centennial Press for its direct-mail services
An Indianapolis company that specializes in printing, packaging and dimensional mail has bought a cross-town direct-mail firm
to broaden its services.
Lending, deposits increase at credit unions despite subpar economy
While many banks were getting drunk on loose lending in the last few years, most credit unions stuck to conservative lending
and other plain-vanilla banking practices.