Stonegate Mortgage profit slows in third quarter
In its first quarter as a public company, the Indianapolis-based residential mortgage firm reported a big year-over-year dip as rising interest rates made the market more volatile.
IBJ Staff
Articles
Indianapolis-area home sales take nosedive
Although area sales are up 16 percent through the first 10 months of the year, the trend has slammed into reverse in recent months amid higher mortgage rates and tighter inventories.
Kite Realty raises $217.3M in secondary share offering
The local rest estate investment firm says it will use some of the proceeds to repay debt and the rest to fund part of its recent $307 million purchase of nine Southern retail properties.
Lilly to spend another $700M in growing market for diabetes products
The move includes a $45 million investment for Lilly's operations in Indianapolis, on top of $400 million in investments the company announced over the past two years.
CIRTA hires industry veteran as new director
The Central Indiana Regional Transportation Authority has hired a native Hoosier as executive director, replacing outgoing leader Ehren Bingaman, CIRTA announced Wednesday.
Former Mayor Peterson joins Kite Realty board
The former two-time mayor is better known for politics and public policy, but he spent many of his early years working in his family’s commercial real estate company.
Council urges rejection of marriage amendment
The Indianapolis City-County Council voted 22-6 on Monday night to pass a resolution urging the Indiana General Assembly to vote against the proposed same-sex marriage amendment.
Menard’s fight with Hilberts to surface in trial with Trump
A skirmish in the ongoing legal war between hardware store magnate John Menard and former business partner Stephen Hilbert will arise in open court on Tuesday, as a trial begins between one of Menard's companies and former model Melania Trump.
Ballard adds name to council’s marriage resolution
City-County Resolution 354, co-sponsored by Democrats John Barth, Angela Mansfield and Zach Adamson, and Republican Benjamin Hunter, will be voted on by the full council Monday.
Durham family members agree to settle trustee claims
Attorneys for the Fair Finance trustee said Tim Durham's ex-wife, Joan SerVaas, has agreed to pay $100,000 and Bernard Durham, his adopted son, $10,000 to settle a lawsuit charging they accepted nearly $300,000 from the disgraced financier.
Noble Roman’s sees rising profit, revenue
The company said it has entered into agreements to open 45 stand-alone take-n-bake pizza locations.
Chocolate artisan sets sights on Carmel
Shelbyville-based Chocolate for the Spirit is opening a retail storefront in Carmel in time for the holiday shopping season.
Former Marsh exec joins local Colliers office
Former Marsh Supermarkets Inc. executive Bill Marsh has joined the Indianapolis office of Colliers International as vice president of retail services.
EDITORIAL: Time for an end to Carmel drama
The implosion of the once-powerful Carmel Redevelopment Commission doesn’t look good in the headlines, but the turmoil has a silver lining. It should end a period in Carmel’s history when fast physical transformation of the town seemed to be leadership’s only concern.
Not-for-Profit of Note
Cummins Inc., 500 Jackson St., Columbus, Ind. 47202 (www.cummins.com) designs and manufactures diesel engines for automotive and industrial markets. It also provides filtration, exhaust and electronics systems, natural gas engines and engine components. For the nine months ended Sept. 29, the company reported a profit of $1.05 billion, or $5.60 per share, on $12.7 billion […]
Manufacturer to close Indiana plant with 110 workers
PolyOne’s Designed Structures and Solutions division in Warsaw will begin terminating employees Jan. 6, the company said in a filing received Thursday by the Indiana Department of Workforce Development.
Republic, Indigo to proceed with Frontier deal
Republic Airways Holdings Inc. on Wednesday said it was going forward with the $145 million sale of Frontier Airlines. It also announced a third-quarter loss of $13.8 million.
Indy attracts more visitors than much-larger Cleveland
A comparison of the convention and tourism businesses.