Indianapolis-based Bell Industries Inc. has agreed to sell some of its assets to Sprint Nextel Corp. for about $13.5 million in cash. The assets being sold represent stock ownership in certain wireless communications bandwidths that Bell acquired as part of its purchase of Jackson, Miss.-based SkyTel Corp., a wireless data and messaging company, in January […]
Indiana University trustees are expected during meetings today and tomorrow to declare several properties near downtown Bloomington as surplus, and set about finding developers to take them over. The properties, which include buildings for food storage and printing services, could open the way for the city’s certified technology park to blossom with more life science […]
Wayne Taylor Racing, which competes in the Grand American Road Racing Association, will expand into a new location at 7950 Georgetown Road and add 20 workers to the current nine, Indy Partnership said today. The move from Park Fletcher involves expanding manufacturing and engine development, and the new workers will be paid an average of […]
Purdue University Provost Sally Mason will be chosen president of the University of Iowa during a regents meeting tomorrow, according to The Des Moines Register, quoting an anonymous source. Mason was passed over for Purdue president in May in favor of University of California Riverside Chancellor France Cordova. IUPUI Chancellor Charles Bantz also was among four finalists.
A decade of strong profits for steelmakers is looming, experts said during the Steel Success Strategies conference underway in New York City this week. Demand is higher than expected, steelmakers are quicker to cut production when prices decline, supplies tighten during times of strong demand, and China is less of a threat, according to the […]
Indianapolis Mayor Bart Peterson said today that Airport Expressway has been renamed the Sam Jones Expressway after the long-time Urban League president. Jones died four years ago at age 75. The road was renamed to avoid confusion because it will not lead to Indianapolis International Airport after the midfield terminal project is finished in 2008.
Sharp Ford President Mike Shore said he accepted a buyout offer from the automaker and will close the dealership today because no one was available to take over when he retired. Shore, 61, took over from his father, Bill Shore, when he died in 1978. Bill Shore started at the dealership as a controller and […]
A coal gasification plant Duke Energy Corp. and Vectren Corp. want to build near Edwardsport in southwestern Indiana would push electric rates up 13 percent to 16 percent, a Duke official told the Indiana Utility Regulatory Commission yesterday. The $2 billion project, which would make synthetic gas from Indiana coal, would replace a Duke plant […]
Houston-based Mattress Firm said today it has bought three Sweet Dreams Mattress Center locations in the Indianapolis area, bringing the total number of local stores to 12. The three stores will be rebranded as Mattress Firm and sell Mattress Firm products.
The Indiana Court of Appeals is scheduled to hear arguments this afternoon in a case that asks whether a county can establish a special economic development area that includes land a municipality has started to annex, according to the Indiana Lawyer. The trial court ruled against Brenwick Associates LLC in a suit the developer brought […]
Only three other states lost more jobs than the 2,100 Indiana surrendered in May when compared to April, the U.S. Bureau of Labor Statistics said today. Michigan lost the most, 18,400, followed by Florida and Wisconsin. The downturn left Indiana with 2,974,400 seasonally adjusted positions.
American Commercial Lines Inc. shares fell nearly 10 percent yesterday to close at $24.50 after the Jeffersonville barge builder over the weekend and yesterday explained concerns it reported last week. Grain shipments fell because the company didn’t compete for some low-priced shipments, and overtime pay shot up as 400 new workers are trained to boost […]
Gov. Mitch Daniels and economic development officials this afternoon are expected to announce plans for a long-anticipated transmission plant in Tipton that eventually could bring 1,200 jobs. German transmission maker Getrag Corporate Group owns land near U.S. 31 and State Road 28 north of Indianapolis. Earthmoving has started. The project, estimated to cost $560 million, […]
A Bedford auto parts plant owned by Visteon Corp. will close by next April, eliminating 685 workers. The Van Buren Township, Mich., company informed employees of the decision Friday, according to the Times-Mail in Bedford. Visteon said the southern Indiana plant, which makes fuel-delivery modules for Ford, does not operate in the company’s core businesses […]
Analysts appear to be much more bearish-and accurate-in their outlooks since giant Wall Street firms were forced to eliminate conflicts of interest four years ago. In 2003, former New York Attorney General Eliot Spitzer ordered 10 big firms to separate investment banking divisions from their research arms, aiming to eliminate a conflict that often resulted […]
Indianapolis-based The Finish Line Inc. today said it has agreed to buy Hat World Inc. parent Genesco Inc. for $54.50 a share in cash, or about $1.5 billion. The price represents a 37.7-percent premium over Genesco’s share price. The deal is expected to close in the fall. In May, Nashville, Tenn.-based Genesco, said its board […]
Bill Lynch, offensive coordinator for Indiana University’s football team, has been named head coach for the 2007 season, the school said today. Lynch has been the team’s offensive coordinator for two seasons. He also served as interim head coach last year while Coach Terry Hoeppner was recovering from surgery. Hoeppner has had two brain surgeries […]
Local artists April Willy and Kirsty Saalfrank are the latest creative talents to be highlighted in Indianapolis Mayor Bart Peterson’s office art collection. New artists are rotated in every six months; painter Willy and photographer Saalfrank each will have six pieces on display. Jenny Guimont, director of the Indianapolis Cultural Development Commission, selected the artists […]
Marsh Supermarkets Inc. has converted LoBill stores in Greensburg and Rushville to Marsh Hometown Markets and expects to convert eight more locations-including some in Indianapolis-by the end of July, the company said this week. Already, nine LoBill locations have changed over. Fishers-based Marsh began the rebranding effort two months ago and is upgrading the store […]
Bill Lynch, offensive coordinator for Indiana University’s football team, has been named head coach for the 2007 season, the school said today. Lynch has been the team’s offensive coordinator for two seasons. He also served as interim head coach last year while Coach Terry Hoeppner was recovering from surgery. Hoeppner has had two brain surgeries […]
