The health of the U.S. economy will worsen and its recovery will be slower than previously expected, according to 42 economists surveyed by Bloomberg News. “We’re now more pessimistic about the pace of recovery into 2009,” Richard Berner, co-head of global economics at Morgan Stanley in New York told Bloomberg. “We now see the Fed […]
Purdue University has hired a Washington, D.C., lobbying firm that specializes in aerospace, aviation and defense to recreate strong ties the school had in the past with NASA, reports the Journal & Courier of Lafayette. As former chief scientist at NASA, Purdue President France C?rdova has ties with the firm, The National Group. Cordova believes […]
The skyrocketing cost of asphalt is forcing some local officials to consider tearing out asphalt on rural roads and replace it with gravel, according to The Republic of Columbus. Local governments are struggling to fill potholes in asphalt roads, which is increasing chances for damage to cars. Conversions to gravel would occur if the condition […]
Bell Aquaculture near Muncie has begun operating a yellow perch farm that is projected to yield up to 100,000 pounds of fish per year. At full capacity, the facility in Albany could produce 9 million pounds annually and employ 70 people. The first fish, which take about 10 months to reach market size, should be […]
Shipping giant FedEx has snapped up 126,000 square feet of the former ATA maintenance hangar at Indianapolis International Airport. About 80,000 square feet of the leased space is hangar bays, and the rest is office, training rooms and other uses, said FedEx spokeswoman Paula Bosler. FedEx will use the ATA space to maintain all but […]
An ongoing expansion of AIT Laboratories will create 50 jobs this year in addition to the 60 created last year, the Indianapolis forensics lab said today. By the end of next year, total headcount will hit about 214, said the company, which has expanded its operation at 2265 Executive Drive near Indianapolis International Airport. The […]
Cheryl Morphew, executive director of Johnson County Development Corp., and Greenwood Mayor Charles Henderson are discussing starting an office park southeast of the city. The officials are learning from getting passed over for a 1,300-worker Medco Health Solutions Inc. pharmacy distribution center late last year, according to the Daily Journal of Franklin. The New Jersey […]
About 450,000 welding jobs will be available by 2014, according to the U.S. Bureau of Labor Statistics, and at least one Indiana company is already experiencing a shortfall of workers, reports The Journal Gazette of Fort Wayne. Welders at Warsaw Engineering and Fabricating Inc. are working overtime to keep up with production and officials there […]
Fourth-quarter profit fell nearly 70 percent for FinishMaster Inc., the Indianapolis company that distributes auto paint and other products to body shops. The $2.4 million profit was down from $7.6 million a year earlier, partly because the year-ago period benefited from the settlement of a lawsuit, FinishMaster said today. After taking out the settlement, profit […]
Fourth-quarter profit fell nearly 70 percent for FinishMaster Inc., the Indianapolis company that distributes auto paint and other products to body shops. The $2.4 million profit was down from $7.6 million a year earlier, partly because the year-ago period benefited from the settlement of a lawsuit, FinishMaster said today. After taking out the settlement, profit […]
Allied Waste Industries Inc. said this morning it will establish a customer service center in Morocco, Ind., and add 350 jobs within six years, according to the Indiana Economic Development Corp. The center is the result of the Phoenix-based company’s decision to consolidate its regional customer support operations into a centralized location. It will support […]
Officials in Greenwood and Franklin want Johnson County to consider implementing a hotel tax, reports the Daily Journal of Franklin. The money would be used to create a convention and visitors bureau. The tax, which likely would be as high as 5 percent, wouldn’t happen before next year because the current legislative session is set […]
Carlyle Capital Corp. Ltd., a unit of Carlyle Group, a Washington D.C.-based private equity group, did not meet banks’ margin calls on its $21.7 billion portfolio, according to several news services. Last fall, Carlyle Capital bought Allison Transmission in Indianapolis from General Motors Corp. for $5.6 billion. Carlyle Capital has received several notices from banks […]
Allied Waste Industries Inc. will announce this morning that it plans to remodel a site at Morocco, Ind., and add 350 customer service jobs within six years, according to The Journal & Courier of Lafayette. Morocco is between Lafayette and Merrillville in northwest Indiana. Allied Waste, headquartered in Phoenix and traded on the New York […]
Athletic-footwear retailer Finish Line Inc. said today its fourth-quarter same-store sales fell 6 percent, versus a 5.4-percent decline in the year-ago period. Stock in the Indianapolis company fell 3.4 percent, to $3.99, following the news. Same-store sales, or sales at stores open at least a year, is a key indicator of retailer performance since it […]
A 750,000-square-foot warehouse in Seymour will become vacant this summer after the latest in a string of third-party logistics providers moves out. Germany-based Schenker Logistics has announced it will leave the facility, which distributes computer printers for Lexmark International Inc., an IBM spinoff headquartered in Lexington, Ky. About 80 full-time and 40 temporary workers will […]
Hoosier Outdoor Advertising Corp., a Bloomington-based billboard company operating primarily in southern Indiana, has been acquired by Lamar Outdoor Advertising, a unit of Lamar Advertising Co. of Baton Rouge, La. Some Hoosier Outdoor workers no longer are with the company following the Feb. 21 deal, according to The Herald-Times of Bloomington. The company would not […]
Growth in the Midwest manufacturing sector was stable in January and February, the Federal Reserve Bank of Chicago reported today in its Beige Book report. Manufacturers tied to aircraft, cranes, energy extraction and mining flourished, the Fed said. Steelmaking, aided by the low price of the dollar, was close to full production. However, makers of […]
Indiana farmland values skyrocketed to record levels last year, according to the most recent survey of agricultural lenders by the Federal Reserve Bank of Chicago. Prices in the northern two-thirds of the state shot up 6 percent in the fourth quarter and 16 percent in 2007. Southern Indiana was not included in the survey because […]
Two women accused of purchasing houses, recruiting buyers and then falsifying documents so lending companies would pay more than the houses were worth have been charged with mortgage fraud, the U.S. Attorney’s Office for the Southern District of Indiana announced today. Beverly Ross and Donella Locke, both of the Indianapolis area, were indicted by a […]
