First piece of The Madison development opens in Greenwood
The $92 million, mixed-use redevelopment project is taking shape on a 19-acre site downtown after nearly a decade of planning.
Susan Orr
Articles
Indianapolis-based Calumet gets new CEO as part of leadership reshuffling
Todd Borgmann, Calumet’s former CFO, was promoted to CEO effective this week. The move, and several other executive-level changes, were triggered by the May 1 retirement of board chairman Fred Fehsenfeld.
KAR’s $2.2B ADESA sale expected to close within days
The sale of ADESA to Arizona-based Carvana, which KAR announced in February, is part of KAR’s ongoing shift away from physical auto auctions toward digital platforms and tools.
Cummins: Suspending Russian operations cost it $158M in first quarter
Cummins made the disclosure in its first-quarter financial report. Profit dropped in the period, but sales hit a record high. The company also said interest in its emerging hydrogen business is growing.
First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
Indiana not-for-profits are starting to find ways to accept donations of cryptocurrency
The Indianapolis-based Indiana Sports Corp., Purdue University’s Purdue for Life Foundation and Rose-Hulman Institute of Technology are among the organizations that have already accepted their first crypto donations—and some community foundations around the state are also eyeing the opportunities they see in cryptocurrency.
Tech leaders say increasing support for new graduates, investors can strengthen tech sector
Local tech-industry executives say an expansion of an existing investor tax-credit program, plus an increased emphasis on high-school computer education, would go a long way to help support the state’s tech sector.
Lilly CEO has leaders talking about whether state is doing enough to grow Indiana
David Ricks’ lunchtime speech to The Economic Club of Indiana—repeated on social media by those in attendance and reported by IBJ and local TV stations—has reverberated across the state.
IU Health, Wunderkind, Market Wagon, RxLightning among winners at Mira Awards
A total of 16 individuals, companies and organizations were named as winners in TechPoint’s annual Mira Awards. Awards were presented at a black-tie gala Saturday night.
Fishers man accused of selling $230M in dubious financial products
The depth of the situation came to light after Robyn Dale “Rob” Whitlow, 51, filed for Chapter 7 bankruptcy protection late last month, declaring personal assets of $45,305, balanced against liabilities of just more than $2 million.
Allegion to acquire Stanley Black & Decker business for $900M
Security-products company Allegion, which has about 1,300 employees at its Americas headquarters in Carmel, expects to close the largest deal in its history in the third quarter.
Marketing-tech startup Prodport lands $3.6M investment
Prodport’s CEO and cofounder is Ohad Hecht of Carmel, who formerly led marketing-tech firm Emarsys until leaving that company last year.
Cummins to spin off filtration business into separate public company
Columbus-based Cummins has confidentially filed paperwork with the Securities and Exchange Commission for an initial public offering for its filtration business. Cummins announced last summer that it was looking at “strategic alternatives” for the business.
West Virginia-based WesBanco entering Indianapolis market
WesBanco, a mid-sized bank based in Wheeling, West Virginia, said it has hired two people so far to staff a new loan production office in Indianapolis that will focus on both commercial and mortgage lending.
Former Seven Corners employee sentenced for role in fraud scheme
Maria Caceres, who worked for travel insurance company Seven Corners from 1998 to 2016, pleaded guilty to wire fraud last year. She was sentenced to federal prison Thursday and ordered to repay more than $496,000 to Seven Corners.
Med-tech startup Prevounce, a newcomer to Indy, has big growth plans here
Prevounce Health, which launched in 2019 in Los Angeles, relocated its operations to Indianapolis last fall and just landed $4.5 million in investment funding which the company says will help it expand and double its workforce in coming months.
Seasoned local executive Ting Gootee tapped to lead TechPoint
Gootee, who has been the chief investment officer at Indianapolis-based Elevate Ventures since 2014, is a well-known figure in Indiana’s technology, investment and entrepreneurship circles.
Indiana Members Credit Union getting new chief executive from within
Ron Collier, who has led the Indianapolis area’s largest credit union for 37 years, plans to retire at the end of the year.
AgriNovus to launch tech-focused challenge to combat hunger
The challenge, to be called HungerTech, will invite participants to come up with tech-focused ideas for improving grocery delivery access for recipients of the Supplemental Nutrition Assistance Program, or SNAP.
TechPoint to honor Bill Oesterle with annual Trailblazer Award
Angie’s List cofounder Bill Oesterle was chosen to receive the Trailblazer Award at TechPoint’s sold-out Mira Awards gala later this month.