An auto parts manufacturer in Columbus will continue operating after union members overwhelmingly voted yesterday to accept wage cuts and changes to insurance and retirement benefits. Columbus Components Group, which operates a former Arvin Industries plant, notified its 400 workers Feb. 9 that the company would close as early as March 1, unless they agreed […]
Locally based White River Capital Inc. posted an $880,000 profit in the fourth quarter of 2008 but lost $14.4 million for the full year. White River is the holding company for a pair of subprime auto-loan firms: locally-based Union Acceptance Co. LLC and Virginia Beach, Va.-based Coastal Credit LLC. The company’s fourth-quarter profit of $820,000, […]
An Indianapolis police officer faces felony charges after investigators say he choked his 11-year-old daughter. Officer Andrew Dodd, 35, attended an initial court hearing this morning after being charged with one count of strangulation and two counts of battery. According to investigators, Dodds became angry when his daughter spilled milk on the couch and refused […]
A prison guard who helped a double murderer escape from Rockville Correctional Center last year has been sentenced to eight years in prison. Scott Spitler pleaded guilty to “aiding escape” after hiding Sarah Pender in a van in August and driving her off the prison grounds. Pender was captured in Chicago five months later after […]
An Indiana soldier is dead after contracting meningitis while stationed at a Missouri Army base. Officials have identified the soldier as Pvt. Randy Stabnick, 28, of South Bend. Stabnick died yesterday at a hospital in Springfield, Mo. He is the second soldier stationed at Fort Leonard Wood to die of meningitis. An Alabama soldier died […]
Indianapolis-based electronics and appliances retailer HHGregg Inc. plans to appoint a new CEO in August, when Jerry W. Throgmartin becomes executive chairman. The company’s current president, Dennis L. May, will take over for Throgmartin, a 33-year veteran of the chain who has served as CEO since 2003, HHGregg said yesterday. May, 41, joined HHGregg in […]
Environmentalist Robert Kennedy Jr. will speak at Ball State University this evening. The son of the late Sen. Robert Kennedy wrote the book “Crimes Against Nature.” He has also been named one of Time magazine’s Heroes for the Planet. Kennedy is scheduled to appear at Emens Auditorium at 8 p.m. The event is free and […]
Lower crude-oil prices helped Indianapolis-based Calumet Specialty Products Partners LP increase its fourth-quarter profit to $18.5 million – up from $7.8 million for the same period in 2007. But volatile pricing throughout 2008 took a toll on full-year results, with profit reaching just $44.4 million, compared with $82.9 million the previous year. Calumet, which processes […]
Indianapolis-based electronics and appliances retailer HHGregg Inc. said today it plans to appoint a new CEO in August. It also said its current CFO is stepping down. The company’s current president, Dennis L. May, will take over for Jerry W. Throgmartin, a 33-year veteran of the chain who has served as CEO since 2003. Throgmartin […]
Thousands of Hoosiers are waiting to see how they will be affected when two automakers submit cost-cutting proposals today. Lawmakers told officials from General Motors and Chrysler that they would need to submit new business models in order to receive billions of dollars in federal money. The proposals are expected to call for layoffs, plant […]
The Carmel City Council has approved a $20 million floater loan to keep the Keystone Avenue project moving. The chief engineer had asked for an additional $8 million to turn six intersections along Keystone into roundabouts, but that request was not approved. Last night’s meeting got heated when one of the councilors accused Carmel Mayor […]
Business owners tonight have a chance to weigh in on a project that would rebuild a portion of Interstate 465 on the west side of Indianapolis. The meeting will deal with the section from the Sam Jones Expressway to the 21st Street overpass. The project will take about two years to finish and is expected […]
Central Indiana home sales plunged nearly 16 percent last month, compared with a year earlier, according to a report released yesterday by Landrigan & Co., an Indianapolis residential real estate firm. Landrigan said January sales in 13 area counties, including Marion, totaled 1,177, down from 1,395 in the same month last year. The average sales […]
Finalists have been selected for Purdue University’s Burton D. Morgan Business Plan Competition, which will award a total of $100,000 in prize money to winners in an effort to spur entrepreneurship. Finalists will make their business-plan presentations Feb. 24 from 8:30 a.m. to 4:15 p.m. in Discovery Park’s Burton D. Morgan Center for Entrepreneurship in […]
President Barack Obama plans to sign the $787 billion economic stimulus bill into law today in Denver. The spending plan is expected to provide Indiana with more than $6 billion in direct federal funding. Fox 59 News will have more at 10 p.m.
Central Indiana home sales plunged nearly 16 percent last month, compared with a year earlier, according to a report released yesterday by Landrigan & Co., an Indianapolis residential real estate firm. Landrigan said January sales in 13 area counties, including Marion, totaled 1,177, down from 1,395 in the same month last year. The average sales […]
Denmark-based NeuroSearch has signed an agreement with Indianapolis-based Eli Lilly and Co. to form a three-year drug discovery and development alliance to investigate treatments for central nervous system disorders. Lilly will spend $30 million in the next three years on the alliance. Of that amount, Lilly will pay $17 million to buy NeuroSearch stock, according […]
Republic Airways Holdings Inc. yesterday reported lower revenue and profit for the fourth quarter of 2008, but the financial performance exceeded analysts’ expectations. The Indianapolis-based airline had revenue of $339.3 million for the quarter ended Dec. 31-3.6-percent less than the $351.8 million it reported for the same period of 2007. The company had profit of […]
Wabash National Corp. capped a dismal 2008 with an even worse fourth quarter, the Lafayette-based truck-trailer manufacturer reported late yesterday. The company lost $110.7 million, or $3.69 per share, in the fourth quarter, which ended Dec. 31, on revenue of $230.7 million. It made $5.6 million in the same period of 2007 on revenue of […]
Finalists have been selected for Purdue University’s Burton D. Morgan Business Plan Competition, which will award a total of $100,000 in prize money to winners in an effort to spur entrepreneurship. Finalists will make their business-plan presentations Feb. 24 from 8:30 a.m. to 4:15 p.m. in Discovery Park’s Burton D. Morgan Center for Entrepreneurship in […]
