CIB standing firm against city plan to tap reserves
The Capital Improvement Board on Monday adopted a formal resolution opposing a plan by some City-County Council Democrats to tap CIB coffers to plug the city’s budget gap.
Scott Olson
Articles
WFMS property fetches $625,000 bid in county tax sale
Suburban New Orleans investment firm National Tax Asset Fund LLC placed the bid during the Marion County tax sale that ended Friday. WFMS parent Cumulus Media Inc. owns the property and owes more than $80,000 in back taxes.
Creditor could take ownership of downtown Comfort Suites
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.
TIF expert is adviser to many municipalities
Loren Matthes helped broker first tax-increment financing deal in the state
Competition puts dent in Indiana casino revenue
Indiana casino revenue fell 3.5 percent through the first eight months of the year even though overall revenue at U.S. casinos grew 6 percent during the period. New casinos in Illinois and Ohio are likely to blame.
Royal Spa owner prevails in suits involving ex-employee
Royal Spa CEO Robert Dapper won a small judgment against ex-employee Kevin Roessler, and had a complaint and counterclaim containing sexually explicit charges against him dismissed.
New Alzheimer’s unit stresses soothing elements
The 36-room wing at Hoosier Village Retirement Center includes antiques and minimizes confusing shadows among other design elements.
Gerdt Furniture closing Castleton location
The 26-year-old store at 8602 Allisonville Road is liquidating its merchandise and is marking down prices as much as 70 percent. Gerdt’s original and lone remaining store, in Southport, will stay open.
Defender Direct acquires Williams Comfort Air
Home-security and satellite-dish installer Defender Direct Inc. has acquired local heating, cooling and plumbing powerhouse Williams Comfort Air, creating a home-services company with nearly 2,200 employees and $335 million in annual revenue.
Airport challenging judge’s decision on parking lot
The Indianapolis Airport Authority is asking a judge to reconsider his decision that paves the way for a Cincinnati-based developer to build a 2,000-space parking lot near the airport.
IndyCar denies getting offer from George to buy series
The Sports Business Journal is reporting that former Indianapolis Motor Speedway CEO Tony George has assembled an investor group that includes race team owners Chip Ganassi, Roger Penske, Michael Andretti and Kevin Kalkhoven to buy the IndyCar Series.
Fortune Industries plans to exit PEO business
In an unusual turn of events, the publicly traded professional employer organization is abandoning its plans to be taken private and instead hopes to become a skilled-nursing operator through a merger with a Greenfield-based company.
Receiver appointed to manage troubled Century Building
A Marion Superior Court judge has appointed a receiver to manage the seven-story building in downtown Indianapolis that is facing foreclosure. A lender to the building’s owner claims it is owed $10.5 million.
Settlement allows Broadbent to keep downtown HQ
The Indianapolis developer will continue to own its corporate headquarters at 117 E. Washington St. after reaching a settlement with two banks that had filed a lawsuit to foreclose on the building.
Finish Line boosts earnings outlook on Macy’s deal
The Indianapolis-based athletic apparel retailer expects its sales to grow by $250 million to $350 million a year as a result of a deal with Macy’s Inc. to become the department store chain’s exclusive athletic footwear partner.
Hospital loyalty low among patients in central Indiana
Regenstrief study finds many visit two different facilities within year’s time.
Judge dismisses whistleblower suit against Rolls-Royce
A former senior project engineer at Rolls-Royce’s Indianapolis plant accused the company of selling parts to the government that it knew did not meet contractual specifications.
Remy International getting prepared for another attempt at IPO
The Pendleton-based auto-parts manufacturer is offering 40,000 shares to employees and immediate family members to boost its number of stockholders before a broader public offering.
HHGregg shares slide as company abandons Michigan plans
The stock price of the Indianapolis-based appliance and electronics retailer fell by more than 18 percent this week after the company disclosed that it is postponing plans to open stores in Michigan.
SEC accuses local firm of bilking investors out of $1.7M
The SEC’s complaint accuses three people of committing securities fraud by spending investor funds on luxury automobiles, a motorcycle, a 30-foot boat, college tuition, home renovations, a wedding and a honeymoon in St. Lucia.