The postal service on Wednesday reported a quarterly loss of $562 million, despite growth in package delivery, due to continued erosion in the use of first-class mail as well as expensive mandates for its retiree health care obligations.
The delinquency occurred when Celadon’s auditor, BKD LLP, withdrew its reports on the trucking company’s financial statements for the periods ending June 30, Sept. 30 and Dec. 31 of 2016.
The troubled Indianapolis-based trucking company conducted a conference call Wednesday to answer questions about its latest accounting issues, but the call lasted 18 minutes and investors didn’t get to talk.
Shares in the Indianapolis-based trucking company dropped as much as 67 percent Tuesday morning. At least 16 law firms say they have filed lawsuits against the company or are investigating doing so.
The Indianapolis-based trucking company is dealing with auditing issues, liquidity challenges and scrutiny from its lenders. It expects to report a $10 million quarterly loss.
The House’s $1 trillion federal spending bill, crafted over the weekend, includes $50 million for the Red Line. Project funding has been in limbo for more than a year.
Indianapolis-based Celadon Group Inc. is banking that a new federal food safety rule will help it take a bite out of its competition—in part because smaller carriers won’t be able to afford to comply.
The most recent downgrade was driven by concerns over whether the company hired to design and build the segment will be able to meet its financial obligations.
King David Dogs is pursuing growth through gas stations and travel plazas by franchising kiosk-sized versions of its downtown restaurant, known for its quarter-pound, all-beef hot dogs.
Aerospace and defense companies are working to thwart digital attacks from several sources and expect huge demand for workers in the field.
The approval clears the way for the Indianapolis-based airline to emerge from Chapter 11 as a privately held company by the end of the month.
Indiana lawmakers plan to release a broad outline Thursday afternoon of an agreement to raise taxes in order to fund road projects.
The plaintiff says he was harmed financially because he purchased Celadon stock at “artificially inflated prices.” The company’s shares declined after allegations of misleading statements and a federal probe.
Jeff Line, the parking company’s executive vice president and chief operating officer, will take over as president May 1.
Indiana House Speaker Brian Bosma said the deal hits the "sweet spot" of both chambers' priorities.
Carmel-based KAR Auction Services Inc. said the acquisition of Chicago-based startup CarCo Technologies Inc., which does business as Drivin, will beef up its technology capabilities.
A private equity firm has purchased a stake in a local family-owned company with operations across the country as its two founders retire and the next generation takes the helm.
The change comes after a passenger, Dr. David Dao, was dragged from a fully-booked United Express flight in Chicago because he refused to give up his seat to make room for crew members
The project will eliminate three of the five existing travel lanes from 116th Street to Main Street, add roundabouts at intersections, install a landscape median through the corridor and put multipurpose paths on both sides of the road.
The owners of the popular miniature golf course, arcade and party-hosting facility have sold the property along busy State Road 37 to a buyer who plans to open a used-car business.
