Republic names Frontier CEO, setting stage to shed unit
The new CEO, David Siegel, is a former CEO of US Airways Group Inc. and Avis Budget Group. He has been serving as Republic Airways' lead director.
IBJ Staff and Bloomberg News
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Indiana construction biz acquired by Swedish firm
Stockholm-based Skanska AB, the Nordic region’s biggest builder, has purchased Industrial Contractors Inc. for $135 million, boosting its U.S. presence with its first acquisition in the United States in a decade.
Bond banks in Indiana, other states boost sales
State municipal-bond banks in Indiana, Vermont, Maine and New Hampshire plan to issue about $190 million in debt this week, as smaller communities seek to take advantage of 10-year interest rates near a six-week low.
ExactTarget files for $100M IPO
The Indianapolis-based e-mail marketing company is aiming to tap a hot IPO market. Sixteen firms have gone public this month, including locally based Angie’s List.
Ex-ABA team seeks more from old TV-rights deal with Pacers
The Spirits of St. Louis Basketball Club LP, a defunct American Basketball Association team, claims it is owed even more TV revenue from the Indiana Pacers and three other NBA expansion teams than the teams are currently paying as part of a 1976 settlement.
Angie’s List stock surges after shares hit market
Angie’s List Inc. shares rose as much as 44 percent in their trading debut Thursday after the company raised $114 million Wednesday in its initial public offering. The stock closed the trading day up more than 25 percent, at $16.26 per share, after rising as high as $18.75 early in the morning.
Default notices, home seizures climb in Indiana, nation
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
Republic Airways shares surge on Frontier sales talk
Republic Airways Holdings Inc. shares soared more than 61 percent Tuesday after the company said it would likely sell or spin off its Frontier Airlines unit.
Dow Agro improves quarterly revenue, profit
Indianapolis-based Dow AgroSciences on Thursday reported record third-quarter sales of $1.2 billion, up 27 percent from the same period a year ago.
WellPoint’s 3rd-quarter profit falls, but beats analyst estimates
WellPoint earned $683.2 million in the third quarter, down 7.6 percent from the same quarter a year ago. But the company boosted its per-share profit forecast for the rest of the year.
Celadon proposes merger with rival USA Truck
Indianapolis-based Celadon has become USA Truck’s seventh-largest investor with a $4.7 million purchase of shares. In a regulatory filing, the truckload carrier reported its interest in combining with its rival.
EnerDel parent shakes up management ranks
Battery maker Ener1 Inc., which has almost 400 employees in the Indianapolis area, has replaced its chief executive and appointed Ivy Tech President Thomas J. Snyder as non-executive chairman of the board.
Cordish can press suit against CEO of Indianapolis Downs
Cordish Co., a real-estate developer building a casino near Baltimore, can pursue a defamation lawsuit against the CEO of its bankrupt former business partner, Indianapolis Downs LLC, a judge said Aug. 26.
UPDATE: Medco acquisition could lead to local consolidation
It’s not yet clear how Express Scripts Inc.’s $29.1 billion acquisition of rival Medco Health Solutions will affect the companies’ central Indiana operations—or their 800-plus employees at two facilities here.
Borders turns the final page, will close all stores
The chain of bookstores will shutter its remaining 399 locations by September, including the few left in central Indiana. Company brass blame the changing book industry, eReader revolution, and turbulent economy.
Simon Property Group signs CEO to long-term contract
Indianapolis-based Simon Property Group Inc. signed an employment agreement with CEO David Simon that will keep him as head of the largest U.S. mall owner for the next eight years—and give him a one-time award worth $120 million.
Sources: Angie’s List picks adviser to handle planned August IPO
Angie’s List Inc., a website that provides consumer reviews of plumbers, electricians and other services, is preparing to file in August for an initial public offering, said two people with direct knowledge of the plans.
Republic may cut Frontier stake as pilots offer concessions
Republic Airways Holdings Inc. agreed to seek new investors for Frontier Airlines, shrinking its stake to become a minority owner, in exchange for concessions from pilots at the unprofitable carrier.
ITT Educational’s stock price leaps as feds ease crackdown
The Obama administration gave for-profit colleges more time to comply with rules that will cut off federal aid to institutions whose students struggle the most to repay their government loans.
Angie’s List CEO says IPO possible in 2011
Angie’s List Inc., a web service that provides consumer reviews to 1.5 million members, may decide to opt for an initial public offering as early as this year, CEO Bill Oesterle said.