Colliers Turley Martin Tucker, the largest commercial real estate firm operating in Indiana, is merging with three other companies to become one of the nation’s largest real estate services. Colliers, which is headquartered in St. Louis, is forming a holding company with Colliers Pinkard of Baltimore and Cassidy & Pinkard Colliers of Washington, D.C. The […]
AM General LLC, the Mishawaka company that manufactures the Humvee military vehicle and H2 Hummer consumer sport-utility vehicle, now plans to build taxies. AM General will make the Standard Taxi for Vehicle Production Group LLC of Troy, Mich., which recently landed $160 million in funding for the project, according to the South Bend Tribune. The […]
Just three months after Nestle USA began ramping up production at its new plant in Anderson, the company said in a long-expected announced today that it will spend an additional $200 million on an expansion. Nestle will add 135 workers to the 300 who will staff the initial, $359 million project, the Indiana Economic Development […]
Amazon.com will open a 950,000-square-foot warehouse in Airtech Logistics Park in Plainfield, the Indiana Economic Development Corp. announced late yesterday. The online retailer will hire more than 350 workers by 2011. Amazon in March committed to opening a 600,000-square-foot warehouse with 1,200 jobs in the Boone County community of Whitestown, and also plans to put […]
More than 1,000 people from nine states attended an auction Saturday of hundreds
of items seized from Christopher P. White, the founder of bankrupt developer Premier Properties USA Inc.
Columbus, Ohio-based American Electric Power and Charlotte, N.C.-based Duke Energy plan to build 240 miles of transmission lines between Greentown Station near Kokomo and the Rockport generating plant east of Evansville. The $1 billion project requires regulatory approval and wouldn’t be completed until 2014 at the earliest, the utilities said today. The utilities say the […]
St. Vincent Indianapolis and Women’s hospitals have received a $1.4 million gift from the estate of a surgeon who practiced at the hospital for decades. Dr. Robert F. Nagan’s gift is the largest ever by a physician to the hospital. About $375,000 went toward a new continuing care nursery at St. Vincent Women’s Hospital. The […]
The Truth in Elkhart yesterday criticized Gov. Mitch Daniels and his challenger in this year’s election, Jill Long Thompson, for inadequate plans to boost economic development in north-central Indiana. In an editorial yesterday, the newspaper chided Daniels for claiming to have creating the best business environment in the Midwest even as the core recreational vehicle […]
Nearly half the layoff and closing notices registered with the Indiana Department of Workforce Development this year have involved car and truck parts manufacturers, companies making mobile homes and recreational vehicles, and businesses involved in air service. The common thread across the industries is rising fuel prices, according to The Times of Munster. More than […]
Nestle, the Swiss food and beverage giant that opened a plant in Anderson in May to manufacture and distribute its Nesquik and Coffee-Mate drinks, is likely to announce an expansion of the plant tomorrow, according to The Herald Bulletin. In June, Nestle asked the city Board of Zoning Appeals to allow a 260,000-square-foot expansion in […]
Trelleborg Automotive, an auto parts maker headquartered in Sweden, plans to close its 200-worker plant in the north-central Indiana city of Peru at the end of the year. The plant makes rubber parts. Trelleborg blamed rising costs, a downturn in the auto market and “overall medium-term prospects” for the North American market.
Baldwin & Lyons Inc., an Indianapolis property and casualty insurer specializing in trucking firms, said yesterday that Otto N. Frenzel III, 77, has retired as a director. Frenzel, a former chairman of National City Bank of Indiana and Merchants National Corp., held the post since 1979. He has been replaced at Baldwin by his son, […]
Kite Realty Group Trust late yesterday reported $11.6 million in funds from operations in the second quarter, down slightly from a year earlier. The Indianapolis-based real estate investment trust, which focuses on neighborhood shopping centers, scaled back guidance for its funds from operations for the year, citing higher interest rates and sluggish market conditions. Stifel […]
Goshen-based Keystone RV Co., which makes recreational vehicles under 20 brand names, has laid off 290 workers across 15 plants in its home base of Elkhart County, according to The Truth of Elkhart. The company will be left with 2,600 employees after the layoffs. Keystone CEO Ron Frenech said the industry hasn’t seen such difficult […]
Government officials are accustomed to granting economic development incentive to companies in the hope of encouraging expansions that otherwise might not occur. However, in Evansville, Berry Plastics Group Inc. has asked for incentives months after starting construction on an addition to its tool shop, according to the Evansville Courier & Press. The newspaper quoted Vandenburgh […]
Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, late yesterday reported $17.6 million in fiscal third-quarter net profit. The $1.46 per share in earnings for the period ended June 30 was nearly identical to a year earlier, but well over the $1.20 anticipated by analysts surveyed […]
Second-quarter net profit soared 49.3 percent for Republic Airways Inc., the Indianapolis-based carrier said late yesterday. Republic’s $28.4 million in profit was bolstered by a one-time gain of $6 million resulting from an interest-rate swap. Without the swap, Republic still turned a profit of $22.4 million, up nearly 18 percent from the same quarter last […]
Eli Lilly and Co. has sold its Greenfield Laboratories in Hancock County to Covance Inc. for $50 million. Covance also signed a 10-year agreement with Lilly under which Princeton, N.J.-based Covance will take responsibility for Lilly toxicology testing now conducted at the historic facility. Approximately 260 Lilly employees at the facility will be offered jobs […]
The slow economy is prompting casinos to lay off employees in order to cut costs. Horseshoe Casino, the former Caesar’s Indiana in the southern Indiana town of Elizabeth, has eliminated 14 positions, according to the Courier-Journal of Louisville. None were dealers or other “frontline” positions; one position getting the ax was diversity coordinator. The casino […]
About 50 workers at Arc Bridges in Gary organized a strike Friday to protest labor relations at the not-for-profit social service agency. The organization provides training and support for the handicapped. Arc Bridges’ 200-plus workers claim it has engaged in “union busting” strategies as the American Federation of Professionals attempts to negotiate an initial contract, […]
