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Circuit City’s demise was bad news for Indianapolis-based developer Kite Realty Group during the fourth quarter of 2008. Despite higher revenue, Kite suffered a $2 million loss in the period ended Dec. 31 due to the bankruptcy of the national electronics retailer, which had been the developer’s seventh largest tenant. The company released its quarterly […]
The United Auto Workers’ deal with Detroit’s three automakers limits overtime, changes work rules, cuts lump-sum cash bonuses and gets rid of cost-of-living pay raises, people briefed on the agreement said today. The UAW announced yesterday that it reached the tentative agreement with General Motors Corp., Chrysler LLC and Ford Motor Co. over contract concessions, […]
Seeking to tackle “a crisis unlike any we’ve ever known,” President Barack Obama unveiled an ambitious $75 billion plan today to keep as many as 9 million Americans from losing their homes to foreclosure. Another key component would specifically help those said to be “under water” – with dwellings whose market value have sunk below […]
Dutchmen Manufacturing has laid off about 100 workers from a northern Indiana plant where it makes recreational vehicles. Dutchmen human resources director Suzanne Randall said the production and office workers at the Goshen plant were given notice on Friday and laid off the same day. They were not given severance packages. Randall blamed the layoffs […]
A mobile-phone service launched last spring by Carmel-based company ChaCha Search Inc., the human-assisted Internet search engine, has scored a large corporate advertiser. Kansas City, Mo.-based H&R Block Inc. has launched a mobile advertising campaign using ChaCha’s mobile-phone service as the outlet. Terms of the deal were not disclosed. H&R Block is running the campaign […]
Anderson-based I Power Energy Systems, a spinoff of Remy International that makes co-generation power units for buildings, has raised $2 million from investors. The private placement managed by Chicago-based David A. Noyes & Co. sold 16,000 series B convertible units at $125 each. Proceeds will be used in part to introduce products, increase marketing and […]
The Salvation Army is rethinking a request to demolish an historic home it owns next to its headquarters at Michigan and Alabama streets. The not-for-profit…
A male-oriented salon and spa across from Keystone at the Crossing has closed its doors for good. Co-owner Bernie Combs sent an e-mail to 4:59 barberlounge customers yesterday, saying the upscale salon was closing immediately after weeks of deliberation. “It has become quite clear that, while the concept is great and our clients love what […]
An auto parts manufacturer in Columbus will continue operating after union members overwhelmingly voted yesterday to accept wage cuts and changes to insurance and retirement benefits. Columbus Components Group, which operates a former Arvin Industries plant, notified its 400 workers Feb. 9 that the company would close as early as March 1, unless they agreed […]
Locally based White River Capital Inc. posted an $880,000 profit in the fourth quarter of 2008 but lost $14.4 million for the full year. White River is the holding company for a pair of subprime auto-loan firms: locally-based Union Acceptance Co. LLC and Virginia Beach, Va.-based Coastal Credit LLC. The company’s fourth-quarter profit of $820,000, […]
An Indianapolis police officer faces felony charges after investigators say he choked his 11-year-old daughter. Officer Andrew Dodd, 35, attended an initial court hearing this morning after being charged with one count of strangulation and two counts of battery. According to investigators, Dodds became angry when his daughter spilled milk on the couch and refused […]
Anderson-based I Power Energy Systems, a spinoff of Remy International that makes co-generation power units for buildings, has raised $2 million from investors. The private placement managed by Chicago-based David A. Noyes & Co. sold 16,000 series B convertible units at $125 each. Proceeds will be used in part to introduce products, increase marketing and […]
A prison guard who helped a double murderer escape from Rockville Correctional Center last year has been sentenced to eight years in prison. Scott Spitler pleaded guilty to “aiding escape” after hiding Sarah Pender in a van in August and driving her off the prison grounds. Pender was captured in Chicago five months later after […]
A mobile-phone service launched last spring by Carmel-based company ChaCha Search Inc., the human-assisted Internet search engine, has scored a large corporate advertiser. Kansas City, Mo.-based H&R Block Inc. has launched a mobile advertising campaign using ChaCha’s mobile-phone service as the outlet. Terms of the deal were not disclosed. H&R Block is running the campaign […]
An Indiana soldier is dead after contracting meningitis while stationed at a Missouri Army base. Officials have identified the soldier as Pvt. Randy Stabnick, 28, of South Bend. Stabnick died yesterday at a hospital in Springfield, Mo. He is the second soldier stationed at Fort Leonard Wood to die of meningitis. An Alabama soldier died […]
Indianapolis-based electronics and appliances retailer HHGregg Inc. plans to appoint a new CEO in August, when Jerry W. Throgmartin becomes executive chairman. The company’s current president, Dennis L. May, will take over for Throgmartin, a 33-year veteran of the chain who has served as CEO since 2003, HHGregg said yesterday. May, 41, joined HHGregg in […]
Environmentalist Robert Kennedy Jr. will speak at Ball State University this evening. The son of the late Sen. Robert Kennedy wrote the book “Crimes Against Nature.” He has also been named one of Time magazine’s Heroes for the Planet. Kennedy is scheduled to appear at Emens Auditorium at 8 p.m. The event is free and […]
Indianapolis-based WellPoint Inc. has agreed to pay $10 million to settle a New York probe into how the health insurer reimbursed customers for out-of-network services. WellPoint also agreed to stop using the Ingenix database of reimbursement rates that New York Attorney General Andrew Cuomo has called “defective and manipulated.” “WellPoint acknowledges the conflicts of interest in […]
Lower crude-oil prices helped Indianapolis-based Calumet Specialty Products Partners LP increase its fourth-quarter profit to $18.5 million – up from $7.8 million for the same period in 2007. But volatile pricing throughout 2008 took a toll on full-year results, with profit reaching just $44.4 million, compared with $82.9 million the previous year. Calumet, which processes […]
Indianapolis-based WellPoint Inc. has agreed to pay $10 million to settle a New York probe into how the health insurer reimbursed customers for out-of-network services. WellPoint also agreed to stop using the Ingenix database of reimbursement rates that New York Attorney General Andrew Cuomo has called “defective and manipulated.” “WellPoint acknowledges the conflicts of interest […]
