A deal for the sale of Harman International Industries Inc. might fall apart, The Wall Street Journal reported today. Harman, which makes audio equipment and is based in Washington, D.C., has a plant in Martinsville called Harman-Becker Automotive Systems. The location slashed 84 of its nearly 500 positions early this year as production moves to […]
The newly formed Carmel Institute has offered $20 million for the former Hilbert mansion, according to a source familiar with the bid. That bid matches Conseco Inc.’s asking price for the mansion, which has been on the market for two years. Conseco won control of the residence during a court battle with former CEO Steve […]
Genesco Inc.’s hard line toward Finish Line Inc. likely means the Indianapolis company has no choice but to go forward with the $1.5 billion acquisition of the Tennessee firm. That was the take of a Wall Street analyst this morning after Nashville-based Genesco announced it had sued Finish Line to try to force it to […]
Coachmen Industries Inc., the Elkhart-based maker of recreational vehicles and manufactured housing, will close its Zanesville, Ohio, plant and move the work to a plant in Decatur, Ind. The Ohio plant, which makes All-American Homes, will be shuttered within 60 days in response to weak market conditions, according to Bloomberg.
Average sale prices for central Indiana homes rose slightly in August, but the number of homes sold dropped 18.5 percent from the same month last year, according to a report issued today by the Metropolitan Indianapolis Board of Realtors. Total home sales year-to-date are down about 8 percent from the same period during 2006. The […]
Arvin Industries was once one of Columbus, Ind.’s largest employers and a corporate pillar in the southern Indiana city. But the auto parts maker that absorbed it in 2000 plans to shutter Arvin’s last presence there by the end of this year. Columbus Mayor Fred Armstrong was notified by e-mail this week that Michigan-based ArvinMeritor […]
Genesco Inc. said today it sued Indianapolis-based Finish Line Inc. and Finish Line’s bank to force Finish Line to close its $1.5 billion acquisition. “No more delays by The Finish Line and UBS; no more reservation of rights; no more bankers’ putting their pencils down,” Genesco CEO Hal Pennington said in a statement. “We want […]
Anderson is one of four mid-sized cities an information technology company is considering as a site for a 500-employee call center, according to the Herald Bulletin. The Anderson Redevelopment Commission called a special meeting last night to consider an unnamed company’s request that the city spend $850,000 to upgrade an existing building it wants to […]
ParaPRO LLC, a startup specialty pharmaceutical company that’s developing a novel treatment for head lice, has received a $2.1 million grant from the 21st Century Research and Technology Fund, the Indiana Economic Development Corp. announced today. The grant will allow the Carmel company to complete clinical trials of its medicine for head lice and their […]
A Virginia company says it has temporarily withdrawn its ambitious plans to build a hospital and hotel complex east of Brownsburg. Joe Cross, the construction manager for Metropolitan Medical Care Inc., confirmed today that the company has temporarily withdrawn its request for zoning approval from the Hendricks County Planning Commission, but that it intends the […]
Sallie Mae, the student lender based in Virginia, issued a statement today saying it expects a group of investors to follow through on a $25 billion acquisition agreement. The statement was a response to New York Times article today that said the consortium of J.P. Morgan Chase & Co., Bank of America and two private […]
The Kresge Foundation has committed $900,000 to WFYI, a key contribution that could help the Indianapolis public radio and television broadcaster polish off a $20.2 million campaign to help it complete a transition to digital broadcasting. If WFYI can raise a final $2.2 million, Kresge will become the last contributor, bringing the total to $20.2 […]
The Indianapolis Cultural Development Commission today approved funding intended to pay for a public art display of Chakaia Booker sculptures in Indianapolis next year. The commission gave the Arts Council of Indianapolis the OK to pull $85,000 from this year’s budget and committed to approving another $165,000 from 2008’s budget for the project. The council […]
Warren G. Lichtenstein, who has made a name for himself by launching hostile takeovers, has made his dissatisfaction with Conseco Inc. public in a Securities and Exchange filing. Lichtenstein said he plans to review investment in the Carmel insurer by his Steel Partners II fund and start discussions with Conseco managers and directors “concerning the […]
Clarian Health Partners is negotiating with Lakeshore Bone & Joint Institute in Chesterton about the possibility of creating a health care campus in northwest Indiana, according to the Post-Tribune of Merrillville. Indianapolis-based Clarian said the campus would include an orthopedic hospital. Lakeshore, which is owned by orthopedic physicians, has locations in Lake, LaPorte and Porter […]
After having survived the recent opening of Four Winds casino in nearby New Buffalo, Mich., northwest Indiana casinos now face another threat-the possibility of Illinois lawmakers allowing three gambling venues to open to help fund the Chicago-area’s mass transit system. If Illinois proceeds, the Indiana casinos, which recently spent heavily on upgrades to fend off […]
Flint & Walling Inc. plans to add 25 workers to its current roster of 130 at its headquarters in Kendallville in northeastern Indiana, the Indiana Economic Development Corp. said today. The $5 million expansion includes additional manufacturing and warehouse space. The company, which makes pumps, is owned by Louisville-based Zoeller Co. Flint & Walling has […]
Genesco Inc. this afternoon sent a letter to Finish Line Inc. saying it must not “continue to stall” and should move forward with completing its $1.5 billion cash buyout of the Tennessee company. The letter comes in the wake of recent moves by Finish Line and its bankers-New York-based UBS Financial Services Inc.- suggesting they’ll […]
Finish Line Inc. said this afternoon that its bankers have decided not to close on the financing for the company’s $1.5 billion cash purchase of Tennessee-based Genesco Inc. until they gain a better understanding of Genesco’s weakening financial condition. The move by New York-based UBS Financial Services may pressure Genesco to accept a lower price […]
Bridgestone Firestone Diversified Products plans to expand and relocate its corporate headquarters into a new building at 96th Street and Interstate 465. The company has signed a lease for 168,000 square feet in Parkwood West and plans to move from a 90,000-square-foot space in nearby Parkwood Crossing. Both properties are developed and owned by locally […]
