Two units of Crystal Food Services have been acquired by Treat American Food Services, which is headquartered in the Kansas City suburb of Merriam, Kan. Treat America intends to expand the operations of Café Group, which runs corporate cafeterias, and Capitol Vending, said Chief Financial Officer Mike Meurer. He didn’t disclose the extent of the […]
Hurco Cos. Inc. reported today that profit in its third fiscal quarter increased 13 percent, to $5.8 million, from the same period a year earlier. The Indianapolis-based maker of machine tools said the jump in the period ended July 31 was driven by sales and service fees in Europe and Asia. Sales were particularly strong […]
Atlantis Plastics Inc., an Atlanta-based plastics manufacturer that filed for Chapter 11 bankruptcy protection on Aug. 10, has notified the Indiana Department of Workforce Development that it might close three plants in the Elkhart area. Two of the plants are extruding operations and one specializes in injection molding. They employ a total of 170. The […]
The squishy Indianapolis-area residential real estate market has come to this: -Sluggish though it is, the region hasn’t been hit as hard as the nation as a whole. -Sellers have the greatest advantage if their house is priced below $75,000 or if the house is in Hendricks County. -Buyers have the most leverage if the […]
EnerDel Inc.’s $100 million expansion, one of the biggest in the state this year, earmarks 277 of the 850 new positions for the Indianapolis area. The lithium-ion battery company announced this morning that it will add 217 jobs to the 100 positions at its headquarters at 8740 Hague Road on the far northeast side of […]
Delphi Corp. said today that it will lay off 600 salaried employees in its Electronics & Safety Division as part of an effort to cut costs by 25 percent. It said the layoffs will fall heaviest on its Kokomo operations, where about 2,500 of the division’s 3,340 salaried employees are based. Though three out of […]
Charles Schwab & Co. will create as many as 300 jobs by 2013 at its regional client center, the Indiana Economic Development Corp. said this afternoon. The center will be moved from Fishers to a larger location in Woodfield office park in Indianapolis. Schwab has 800 workers at 12115 Visionary Way in Fishers, near Interstate […]
Only Florida and Georgia lost more jobs than Indiana last month, the U.S. Department of Labor said today. Indiana saw a decline of 16,500 positions, with Florida losing 21,400 and Georgia, 18,900. The 0.6-percent loss for Indiana was 2nd worst; Alaska lost a slightly greater proportion of its jobs. Also in July, Indiana’s unemployment rate […]
Hill-Rom Holdings Inc., the giant hospital equipment maker, said today it has laid off 160 workers across its global operations, including about 50 at its headquarters in Batesville. The layoff amounts to fewer than 3 percent of Hill-Rom’s work force. Most were managers. The Batesville office attracts many workers from Indianapolis and Cincinnati, said spokeswoman […]
Alvin T. “Kit” Stolen III has joined Salin Bank & Trust Co. as president and chief operating officer. Stolen, 52, was president and CEO of Union Federal Bank in Indianapolis until January 2007, when the bank’s transition to new ownership under Sky Financial Group Inc. of Bowling Green, Ohio, was complete. Sky was acquired in […]
Emmis Communications Corp. has cut an undisclosed number of positions from its magazine-publishing arm, the Indianapolis radio and publishing company said today. The positions, which amounted to 4.6 percent of its magazine staff, were eliminated through attrition in Indianapolis and through layoffs at other locations, spokeswoman Kate Snedeker said in an e-mail. Salaries of existing […]
Companies are quietly planning expansion projects despite woes that continue to unfold in housing, finance and other hard-hit industries, Indianapolis-area economic development officials say. The officials’ experiences differ, but a couple of them contacted in a spot check say requests for information from expansion-minded companies are becoming more common, and another says activity hasn’t fallen […]
The contraction in Indianapolis-area house sales hasn’t ended, July figures suggest. Sales in Marion County, surrounding counties and Madison County fell to 2,336 units last month from the same month last year, brokerage F.C. Tucker Co. said yesterday. The figures, based on Metropolitan Indianapolis Board of Realtors data, also show that all counties but Boone […]
The new holding company being formed by Colliers Turley Martin Tucker and three other commercial real estate firms will be headquartered in St. Louis, and include all 25 existing Indianapolis shareholders. Colliers Turley Martin Tucker, which is based in St. Louis, announced the deal yesterday along with Colliers Pinkard of Baltimore, Cassidy & Pinkard Colliers […]
Major Hospital CEO Tony Lennen says differences in personal style were key factors in his decision to resign suddenly on Monday. “There has been a lot of changes on our board,” Lennen, 50, said in an interview with IBJ. “I was uncomfortable. I don’t think we were in sync the way we used to be.” […]
A sluggish economy and stiffer enforcement of franchise agreements resulted in second-quarter profit plunging 44 percent for Noble Roman’s Inc., the Indianapolis restaurant chain announced late yesterday. Noble Roman’s generated $395,307 in net income compared with $703,506 a year earlier. Revenue dived to $2.4 million, from $3.1 million. The company attributed most of the weaker […]
By Norm Heikens An Indianapolis plant that manufactures specialty drugs might be sold, its parent announced yesterday. Enzon Pharmaceuticals Inc., based in Bridgewater, N.J., said it might sell the plant or one or all of its products as part of a strategic review of its specialty pharmaceutical business. The plant at 6925 Guion Road on […]
Indiana might be in line for a lot more than the $20 million minimum each state will be allocated as part of the housing stimulus initiative signed by President Bush on July 31, according to a new IUPUI study. The Center for Urban Policy and the Environment estimates Indiana could receive $80 million to $100 […]
American Sentry Guard, a Greenwood company named to last year’s Inc. 500 list of fastest-growing private companies, has closed. Officials with the maker of high-tech surveillance systems could not be reached for comment, and doors at its offices in a former Stokely Van Camp tomato cannery were locked yesterday. A representative of property owner Revel […]
Sardar Biglari, the rebel Steak n Shake Co. shareholder who in June persuaded fellow directors to name him chairman, now is taking on the additional post of CEO. He replaces interim CEO Wayne Kelley, who will retain his board seat, the company announced late yesterday. Kelley was named to the interim post in March, replacing […]
