Retail developers always have been an audacious breed. They spend millions to build shopping centers, confident that tenants will flock to fill the slots they didn’t prelease. To charge ahead these days takes more than the usual dose of intestinal fortitude. Everyone is nervous — from shoppers to lenders to retailers, many of which have […]
Southwest is striking a deal to acquire ATA’s valuable landing slots at LaGuardia
and most of the dying airlines’ remaining assets for $7.5 million.
Shepherd Community Inc., a Christian-based organization serving the near-east side, is pulling other charities into its fold
at a pace not often seen in the local not-for-profit sector.
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
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.
An Indianapolis company that specializes in printing, packaging and dimensional mail has bought a cross-town direct-mail firm
to broaden its services.
OneAmerica Financial Partners Inc. has made no secret of its desire to acquire other companies. Well, if it wants to buy,
it could hardly find a better time.
Insurance giant Safeco Corp. is expected to either vacate or scale back its downtown operation next year–a move that could
deal a major blow to the office market. At stake are about 700 downtown jobs, some or all of which could be eliminated or
shifted to the suburbs. A final decision about the fate of Safeco’s five-building downtown office complex likely will come
after Boston-based Liberty Mutual completes its $6.2 billion acquisition of Seattle-based Safeco.
Domestic automakers were already scheming about new ways to chop dealers–cutting costs to service them–as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
The fiercely competitive local telecommunications landscape should get even more heated, following Cincinnati Bell Inc.’s
$18 million acquisition of Carmel-based eGix Inc. eGix provides bundled voice and data services, as well as high-speed Internet
access and messaging products, to about 17,000 commercial customers.
First Indiana Corp.’s announcement that it would be sold to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash
came just 17 days after sale discussions began. Banking observers have speculated for weeks that First Indiana acted fast
to cut a deal before it would have to report second-quarter results.
If First Indiana Corp. was looking to pull off a sale quickly, Milwaukee-based Marshall & Ilsley Corp. was a natural place
to turn. First Indiana CEO Robert B. Warrington had been doing deals with the bank since he took the helm from Marni McKinney
in 2006. Warrington also is a friend and golfing buddy of M&I CEO Mark Furlong.
Athletic retailer The Finish Line Inc. had cultivated a reputation for conservative play calling, keeping clean books with
minimal debt. Then on June 18, the Indianapolis-based retailer called a surprise audible. The $1.3 billion company agreed
to acquire Nashville, Tenn.-based Genesco Inc. for $1.5 billion.