Indianapolis police have arrested an Indianapolis man for allegedly operating a Ponzi scheme. Phillip Moore faces 36 felony counts for guaranteeing high rates of return on loans over short time periods, and then not paying out the returns or writing checks that bounced. Working through a business called Moore Business Group, Moore promised a 20-percent […]
Rising prices and strong demand around the world fueled record profit and sales for Dow AgroSciences in the second quarter. Dow AgroSciences, the Indianapolis-based agricultural arm of Dow Chemical Co. Inc. of Midland, Mich., reported $1.4 billion in sales, a 25-percent increase from a year earlier. Profit soared to $335 million from $208 million. The […]
Indianapolis-based YourEncore Inc. has launched an office in the United Kingdom primarily to serve one of its main customers, Cincinnati-based Procter & Gamble Co. Founded in 2003, YourEncore enlists retired scientists and engineers to help companies in the life, consumer and food sciences as well as in specialty materials, aerospace and defense. It has a roster […]
Warsaw-based Zimmer Holdings Inc. will create 100 jobs in a $19 million expansion of its foundry in the northern Indiana city, the Indiana Economic Development Corp. said today. The 50,000-square-foot expansion will result in greater automation and produce 1.3 million castings a year. The state offered 400,000 in tax credits based on jobs created. Zimmer […]
FedEx Corp. has asked a bankruptcy judge to allow it to sue ATA Airlines Inc. for breaching a contract to carry military personnel. The filing comes a month after ATA sued FedEx, claiming that it was forced into bankruptcy when FedEx notified ATA that the contract would end this fall. ATA was obligated to continue […]
Jarrett Engineering Co., which designs machines and tooling used in manufacturing plants, plans to add to its headquarters at 1011 N. Pennsylvania St. and add nearly 40 employees by 2012 – doubling its head count. Jarrett received $225,000 in tax credits and training grants from the state based on hitting job-creation targets. Its customers are […]
At least 12 local Starbucks stores are slated to close by early next year as part of a 600-store nationwide purge. The chain is closing eight stores in Indianapolis and stores in Carmel, Greenwood, Beech Grove and Plainfield. About 200 people in central Indiana could lose their jobs in the move since each location employs […]
Lifetouch Inc., one of the nation’s largest portrait photographers, plans to consolidate call centers elsewhere in the country into its Muncie operation, resulting in a building expansion and 200 additional workers over several years, according to The Star Press of Muncie. About 7,700 square feet will be added to its 12,700-square-foot facility in Morrison Mock […]
N.E.W. Customer Service Cos. Inc. plans to locate a customer support center in Terre Haute, and create 480 jobs by 2011, Indiana Economic Development Corp. announced today. The Sterling, Va., company will hire employees for the Terre Haute location who will work from home to help callers fix problems with DirectTV satellite television service. Privately held […]
The Midwest Proton Radiotherapy Institute, which has been a money-loser since opening in 2004, expects to turn a $1.5 million profit in the coming fiscal year, according to The Herald-Times of Bloomington. The Bloomington center, co-owned by Clarian Health and Indiana University, is attracting more patients and getting better reimbursement from the federal Medicare program. […]
Cape Air plans to end commuter flights between South Bend and Indianapolis just eight months after they began, and flights between Evansville and Indianapolis are under a cloud, too. The Massachusetts company will stop flying from South Bend in September because St. Joseph County Airport is cutting off a subsidy, according to the Evansville Courier […]
Virginia-based Gannett Co. Inc. yesterday named Michael G. Kane to replace outgoing Indianapolis Star publisher Barbara Henry. Henry, 55, retired suddenly on June 27; her departure is effective Aug. 1. Kane was publisher of the Rochester Democrat and Chronicle in New York and regional vice president of the company’s East Publishing Group. Unlike Henry, who […]
As IBJ reported in May, Shapiro’s Deli and Harry & Izzy’s restaurants will open locations at the new midfield terminal at Indianapolis International Airport. SSP America, the airport’s United Kingdom-based food operator, confirmed the report today in a statement. The airport authority announced in April that Cafe Patachou, 96th Street Steakburgers, King David Dogs and […]
By Norm Heikens Across-the-board problems caused by the sluggish economy resulted in Fortune Industries Inc. reporting a greater loss in its third fiscal quarter than in the same period a year earlier, the Indianapolis company reported yesterday. Fortune lost $3.1 million in the quarter ended May 31, nearly double the loss of a year earlier. […]
Defense contractor Rolls-Royce has signed a $900 million contract with Italian aircraft maker Alenia Aeronautica SpA to supply turboprop engines for nine years. The AE2100D2 engine comes from a bread-and-butter line of military engines that the British company designs, develops and manufactures in Indianapolis. The engine will be used on medium-size C-27 J Spartan cargo […]
Jack Swarbrick, a Baker & Daniels attorney and key figure in Indianapolis professional and amateur sports, is Notre Dame’s first choice to replace Kevin White as athletic director, the Chicago Tribune reported today. Citing an unidentified source, the newspaper said the deal isn’t finished but that an announcement of a new athletic director could come […]
Premier Exhibitions Inc., the Atlanta company that has been accused of using body parts from Chinese prisoners for its controversial cadaver exhibits, will open the show July 30 in Claypool Court near Circle Centre mall. The “Bodies…the Exhibition” exhibit will open just months before the Indiana State Museum brings its “Body Worlds III” exhibit to […]
Marketing the Gary SouthShore RailCats minor league baseball team is a struggle because area residents are still mad that the price of the team’s home, U.S. Steel Yard stadium, climbed far beyond original projections. That’s what the team’s new owner, Waukegan, Ill., attorney Patrick Salvi, was told during a speech yesterday to the Gary chamber […]
Indiana ranked 13th on CNBC’s annual list of top states for business, a vast improvement over the 26th place last year. The biggest jumps occurred in the categories of economy, business friendliness, transportation and cost of doing business. The state’s ranking for innovation and access to capital were stagnant. States were ranked on 40 measures […]
Duke Realty Corp., the developer of the mixed-use Anson in Boone County, has chosen Hansen & Horn Group Inc. to build single-family houses in the project. Locally based Hansen & Horn replaces Los Angeles-based KB Home Inc., which backed out of plans to build in Anson when it exited the Indiana market in July 2007. […]
