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BEHIND THE NEWS: Software maker off target with timing for $86M IPO

When it came to timing its initial public offering, ExactTarget Inc. didn’t exactly hit a bull’s-eye. The Indianapolis-based maker of e-mail marketing software filed to go public in mid-December, well into the market swoon that began before Halloween. Since then, the market’s only gotten spookier. The S&P 500 has shed another 13 percent, leaving the bellwether index 18 percent off its October high. Not surprisingly, ExactTarget is stuck at the starting gate. It hasn’t moved forward with launching its $86…

Alternative-energy company eyes Indiana for 4 wind farms

Alternative-energy giant Horizon Wind Energy is opening an Indianapolis office focused on developing up to four new wind
farms in Indiana at a cost of more than $2 billion. The Houston-based company is renovating space on the
top floor of the 12-story J.F. Wild Building at 129 E. Market St., where it plans to manage development
of new wind farms in Indiana and Ohio.

American Sentry Guard shuts down

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 […]

Swedish auto parts maker closing plant

Trelleborg Automotive, an auto parts maker headquartered in Sweden, plans to close its 200-worker plant in the north-central Indiana city of Peru at the end of the year. The plant makes rubber parts. Trelleborg blamed rising costs, a downturn in the auto market and “overall medium-term prospects” for the North American market.

Zing, L’ex and Eddie Merlot

A couple of restaurant updates today:
Workers are adding a wraparound balcony to Zing, a new small-plate restaurant in the old Payton’s Place at 543 Indiana Ave. Restaurateurs…

Frenzel leaves Baldwin & Lyons board

Baldwin & Lyons Inc., an Indianapolis property and casualty insurer specializing in trucking firms, said yesterday that Otto N. Frenzel III, 77, has retired as a director. Frenzel, a former chairman of National City Bank of Indiana and Merchants National Corp., held the post since 1979. He has been replaced at Baldwin by his son, […]

Kite results stagnate as costs increase

Kite Realty Group Trust late yesterday reported $11.6 million in funds from operations in the second quarter, down slightly from a year earlier. The Indianapolis-based real estate investment trust, which focuses on neighborhood shopping centers, scaled back guidance for its funds from operations for the year, citing higher interest rates and sluggish market conditions. Stifel […]

Biglari becomes CEO of Steak n Shake

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 […]

New look for secondary JW hotels

Developers White Lodging and REI Investments have made some changes to their plans for a Courtyard by Marriott and a SpringHill Suites next door to the JW Marriott convention hotel, at the request of city planners. Among the changes: signs…

Arts budget: Scales comments

Earlier today, City County Councillor Christine Scales e-mailed me regarding the city arts budget and the rumored threats against it. I’m reprinting the letter here (and posting it with the earlier blog) with her permission. Your thoughts are, of…

Keystone RV lays off 290 employees

Goshen-based Keystone RV Co., which makes recreational vehicles under 20 brand names, has laid off 290 workers across 15 plants in its home base of Elkhart County, according to The Truth of Elkhart. The company will be left with 2,600 employees after the layoffs. Keystone CEO Ron Frenech said the industry hasn’t seen such difficult […]

Anderson gets a 50-foot rabbit

Nestle has gotten the green light from the city of Anderson to build a 50-foot-tall rabbit near the companyâ??s
new Nesquik plant along I-69.

The steel and fiberglass rabbit will look like the smiling cartoon logo thatâ??s been on…

UPDATE: Haynes stock soar on report, upgrade

Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, saw its stock price explode this morning after it reported a jump in profit late yesterday and an analyst upgraded his recommendation. The shares traded up 25 percent, to $54.25 each. Haynes said profit in its third fiscal […]

Schwab acquired by New York safe company

Schwab Corp., a Lafayette company founded shortly after the Civil War, has been acquired by another manufacturer of safes, Rochester, N.Y.-based SentrySafe, for an undisclosed price. Schwab employs 105, including 80 at its manufacturing plant in Cannelton. In addition to safes, the company makes files, cabinets and vault doors. SentrySafe makes residential and small office […]

Louisville firm moving headquarters to Indiana

Clarcor Air Filtration Products announced this morning that it will bring 425 jobs to Jeffersonville by relocating its Louisville headquarters and consolidating its Midwest manufacturing operations there. Jeffersonville is across the Ohio River from Louisville. The company, which manufactures filters under the brands Purolator, Air Technologies, Airguard Industries and ATI, will invest $8.5 million to […]

Irwin Financial loses $107M in second quarter

Irwin Financial Corp.’s exit from the leasing and home equity businesses helped throw the Columbus bank for a $107 million loss in the second quarter. Irwin also said this morning that it expects to lose that much more in the third quarter as the restructuring draws nearer to an end. However, the bank added that […]

Latest B’way cast recordings

With a new season starting on Broadway, I thought it a good time to give a listen to a stack of cast recordings of 2007/2008 shows. More than the original production, I believe, the cast recording is what encourages future…

Firm seeks incentives…after starting expansion

Government officials are accustomed to granting economic development incentive to companies in the hope of encouraging expansions that otherwise might not occur. However, in Evansville, Berry Plastics Group Inc. has asked for incentives months after starting construction on an addition to its tool shop, according to the Evansville Courier & Press. The newspaper quoted Vandenburgh […]

Haynes profit levels off, beats expectations

Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, late yesterday reported $17.6 million in fiscal third-quarter net profit. The $1.46 per share in earnings for the period ended June 30 was nearly identical to a year earlier, but well over the $1.20 anticipated by analysts surveyed […]