Massachusetts-based Equity Industrial Partners Corp. has bought a 630,000-square-foot industrial building at 7900 Rockville Road from Covington Capital Corp. of Columbus, Ohio, for undisclosed terms. The multi-tenant Rockville Business Center is 97-percent leased. Mark Writt of CB Richard Ellis represented both sides in the transaction. Covington acquired the building, which had once housed a manufacturing […]
Evansville-based sporting goods maker Escalade Inc. is shutting down a children’s archery line because a needed investment in upgraded equipment would be too expensive. Instead, Escalade will import the line from China. The company will lay off 25 workers in Evansville as a result, according to the Evansville Courier & Press. Escalade, which also makes […]
Brent Waltz, a Republican who unseated long-time state Senate Finance Committee Chairman Larry Borst in 2004, is under attack by a primary election challenger who claims Waltz lives outside his district. Waltz lives at his parents’ White River Township home in Johnson County rather than at a condominium he leases in Greenwood, according to a […]
Hawker Beechcraft Services plans to expand its maintenance and service location at Indianapolis International Airport, the airport announced this morning. The airport board approved the $14-million project along with a 32-year lease. Forty to 50 workers will be added to the current 73 within five years. The new facility will include a 6,600-square-foot terminal, and […]
Profit for sports- and office-products maker Escalade Inc. was flat in the quarter ended Dec. 31 on lower sales of sporting goods to mass-market retailers. The Evansville company earned $2.6 million, or 20 cents a share – virtually the same as during the fourth quarter of 2006. Sales fell 7 percent to $40.9 million. “Industry-wide […]
Faurecia North America plans to close a plant in Granger in August as part of a company realignment, displacing about 200 workers, reports the South Bend Tribune. The France-based company also will close a plant in Ohio. The plant in northern Indiana makes automobile exhaust system parts, and had nearly 500 workers in 2004.
Only one issue is causing a delay in construction on the $530 million Getrag-Chrysler transmission plant near Tipton to drag into its second month, according to the Kokomo Tribune. A Chrysler spokesman quoted by the newspaper did not identify the issue. Local officials expect the impasse to be resolved soon. The foundation has been laid […]
The fixed-base operator at Indianapolis Executive Airport in Zionsville has been awarded a five-year contract to operate Grissom Aeroplex at Peru, 60 miles north of Indianapolis. Montgomery Aviation Inc., which is headquartered in Indianapolis, will land small aircraft, and supply fuel, oil and services at the former Grissom Air Force Base, according to the Kokomo […]
The Indiana Senate is expected to vote this afternoon on whether to approve tax breaks for films shot in Indiana by overriding a veto from Gov. Mitch Daniels. The legislature passed the bill last year to offer film and video production companies tax breaks of up to 15 percent of costs for projects under $6 […]
Stock in HhGregg Inc. shot up 11 percent this morning after the Indianapolis-based appliance and electronics retailer posted a 38.5-percent increase in profit in its third fiscal quarter. The shares traded near $13.13, up $1.30. The $15.1 million in profit for the period ended Dec. 31 amounted to 45 cents per share. Analysts surveyed by […]
None of the roughly 25 parties that have shown interest in buying the Tropicana Casino in Atlantic City, N.J., have told the trustee overseeing the Tropicana that they want the Casino Aztar sister property in Evansville, according to the Evansville Courier & Press. However, the trustee, Gary Stein, added that potential buyers might be speaking […]
A Greenwood human resources firm plans to construct a 47,153-square-foot office building along Interstate 65 near a campus opened recently by Indiana Wesleyan University. Tilson HR Inc. has contracted with Alderson Commercial Group to build the $6.5-million, two-story structure on one of the few remaining tracts in South Park Business Center, according to the Daily […]
A union that’s organizing janitors in Indianapolis and other cities plans to deliver 100,000 candy hearts to Central Indiana Corporate Partnership at noon today to represent the number of people in Indianapolis the union says are without health insurance. Central Indiana Corporate Partnership is a not-for-profit of CEOs of the region’s largest corporations and university […]
The lawyer who accidentally sent an e-mail to a New York Times reporter about settlement talks underway with Eli Lilly and Co. asked that the reporter not use information from the e-mail in a story. However, the reporter, Alex Berenson, quickly dispelled any notion of keeping it under wraps. “And I said, you know, are […]
Pended house sales in the nine-county Indianapolis area fell 12.2 percent in January from the same month last year, according to figures released today. The region saw 1,962 pended sales, compared to 2,235 in January 2007, said F.C. Tucker Co., which based the news on figures gathered by the Metropolitan Indianapolis Board of Realtors. Pended sales are […]
Vanguard National Trailer Corp. has reduced its operations from two shifts to one, but did not cut workers, joining other truck-trailer makers that are responding to a slowdown in the market, reports The Herald Journal of Monticello. Vanguard National is a unit of China International Marine Containers Co. Ltd. and has its operations in the […]
New York insurer MetLife Inc. is closing its call center at 9001 Wesleyan Road and shifting the employees to working from home, the company said today. Approximately 89 workers take calls for auto and home claims. The office is located near Interstate 465 and North Michigan Road.
Powerway Inc., an Indianapolis-based developer of manufacturing quality control software, today gave CEO H. Dave Chambliss the additional title of chairman. Prior to his association with Powerway, Chambliss was chief operating officer for Georgia-based Visiprise Inc., which specializes in integrated manufacturing operations solutions. While at Visiprise, he led operations through the company’s acquisition of HMS […]
A hearing about legislation that would penalize businesses that knowingly hire illegal immigrants begins at 9 a.m. tomorrow before the House Committee on Public Policy in the House chamber at the Statehouse. The bill, authored by Sen. Mike Delph, R-Carmel, has passed the Senate, and makes it a misdemeanor for transporting, shielding from detection, concealing […]
A Texas-based investor group today officially launched its campaign seeking two seats on the board of The Steak n Shake Co. The San Antonio-based Lion Fund filed papers with the Securities and Exchange Commission seeking the election of the fund’s Sardar Biglari and Philip Cooley at the company’s annual meeting next month. The hedge fund, […]
