Indianapolis-based Centaur Inc. said today that the Pennsylvania Harness Racing Commission has approved its building and operating a $428 million harness racing facility near Pittsburgh. The project still must be approved by the Pennsylvania Gaming Control Board. Valley View Downs would have 150 live racing days on a 1-mile oval track and 363 days of […]
So many real estate deals are crumbling that prices for commercial real estate could fall 15 percent in the coming year, which would create the biggest decline since 2001, according to Bloomberg. Property owners are being forced to put off sales or accept lower prices as the cost of borrowing rises. “People aren’t willing to […]
Former U.S. Attorney Susan W. Brooks will be senior vice president of work-force and economic development in addition to her new duties as general counsel at Ivy Tech Community College, Ivy Tech said today. Brooks, a deputy mayor under former Indianapolis Mayor Steve Goldsmith prior to being named U.S. attorney, takes over economic development duties […]
The president of the Yorktown town council said yesterday that many sources tell him Indianapolis-based Clarian Health Partners plans to develop a 100-acre site at the southwest corner of Nebo Road and State Road 332, west of Muncie. Steve Lowry’s confirmation is the first to be made officially, according to The Star-Press of Muncie. The […]
Indianapolis-based Dow AgroSciences has signed an agreement with Exelixis Plant Sciences to speed Dow AgroSciences’ ability to find genes that control traits in corn and other crops. Assets purchased include a library of patents and patent applications, laboratory equipment, software and a greenhouse in Woodburn, Ore. Terms of the deal were not released. Exelixis is […]
Ongoing manufacturing layoffs have resulted in Fort Wayne being stung worse than 14 other Midwestern cities, an Indiana University-Purdue University Fort Wayne study shows. Fort Wayne wages increased just 7.9 percent between 2001 and 2005, the lowest among Dayton, Ohio; Rockford, Ill., and other cities studied, according to Greater Fort Wayne Business Weekly. Earnings for […]
Two former WellPoint Inc. executives have joined Indianapolis-based Medical Animatics LLC as chairwoman and vice chairwoman of the health care education company’s board after becoming angel investors in May. Jane Niederberger, Medical Animatics’ chairwoman, had been vice president and general manager of operations for WellPoint’s central region. Barbara Kew had been vice president of information […]
Nestle Waters North American Inc. plans to build a $32 million water bottling plant in Greenwood, reports the Daily Journal of Johnson County. The 294,388-square-foot plant would employ 64 workers who would make an average annual salary of $33,000. Nestle Waters is a unit of the Swiss tea, coffee and chocolate company that is building […]
Middlebury-based Pilgrim International Inc., which was acquired by private equity firm Monomoy Capital Partners LP in July, will not be merged with Washington-based Western Recreational Vehicles Inc., which also is owned by Monomoy Capital. The private equity firm had said it would merge the two travel recreational vehicle companies. No reason was given for changing […]
The Indiana Department of Transportation tentatively has chosen an engineering design firm out of San Francisco to conduct a feasibility study of developing a commuter rail system that would connect Muncie to Bloomington. Stops along with way would include Anderson, Noblesville, Fishers and Indianapolis. A report by CRS Corp. could be out in about a […]
The Finish Line Inc.’s $1.5 billion agreement to buy Genesco Inc. gives the Indianapolis-based retailer the right to back out if the Tennessee company’s business suffers a “material adverse” change. The Indianapolis company appears poised to seize on the language. In a press release late this morning, it said it was “disappointed” with the $4.2 […]
The new SMC Corp. of America facility in Noblesville will encompass 825,000 square feet, more than three times the space that the maker of pneumatic automation equipment occupies now at 3011 N. Franklin Road on the east side of Indianapolis. Mike Jones, who directs national distribution for the company, said today that all details of […]
A distribution center operated by Next Day Gourmet at 1740 Stout Field Drive near Indianapolis International Airport is being closed, and the work sent to other warehouses, the company said today. Next Day Gourmet, which distributed restaurant equipment and supplies from the location, is owned by U.S. Food Service Inc. of Columbia, Md.
The Finish Line Inc. late this morning cast doubt on whether it will move forward with its $1.5 billion acquisition of Genesco Inc. after the Tennessee company reported a steep second-quarter loss. In a written statement, Finish Line said it is “disappointed” with Genesco’s $4.2 million loss. “Consistent with its responsibilities to The Finish Line’s […]
The Brown County Convention and Visitors Bureau is without a permanent leader after its longtime president and CEO resigned amid a budgeting conflict. Teresa Anderson quit Aug. 24 after the county Tourism Commission ordered the CVB to cut its personnel expenses, as well as split part of the Innkeepers Tax income with other organizations promoting […]
SMC Corp. of America, which makes pneumatic automation equipment for a variety of industries, plans to announce tomorrow that it will move its North American headquarters to Noblesville and add 275 jobs, according to a source familiar with the announcement. The company’s North American headquarters is currently on the eastside at 3011 N. Franklin Road. […]
New York-based Insight Communications reportedly signed a deal with the Big Ten Network today-the day before the network is set to launch, Street & Smith’s Sports Business Journal and other outlets are reporting. Insight, which has 1.4 million customers in Indiana, Illinois, Kentucky and Ohio, has agreed to carry the Big Ten Network on its […]
Stock in Elkhart-based Coachmen Industries Inc. is sliding as the subprime mortgage implosion erodes opportunities for the Elkhart company to make money selling the houses it manufactures. Coachmen shares are trading at $6.86, down from $9.58 as recently as July 19 and $12.90 last October. On Aug. 27, Coachmen suspended its quarterly dividend of 3 […]
The average sale price of houses in the 13-county metro area fell 3 percent in July from the same month last year-to $163,612, the Metropolitan Indianapolis Board of Realtors said today. The number of sales slid 6.7 percent, to 2,765. Pending sales-signed but not closed-fell 5 percent. Inventories held steady at 22,270, a sign that […]
A group tied to the United Auto Workers union is calling on Toyota Motor Corp. to rehire two workers it says were fired from the Japanese automaker’s Georgetown, Ky., assembly plant for trying to organize a union. Kentucky Jobs With Justice also said Toyota should improve safety and treatment of temporary workers at the plant, […]
