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A discovery of insurance policies abandoned by now-defunct Ertel Manufacturing Co. has led the city of Indianapolis to sue at least 15 insurance companies for costs to clean up the site, the city said yesterday. The city is seeking more than $5 million for removing PCBs, cadmium and solvents from the site northeast of downtown […]
The full-size pickup plant General Motors Corp. operates in Fort Wayne will be shut down an additional week in August due to allow inventories to shrink, Bloomberg reported. Today’s announcement by GM brings to three the number of weeks the plant will be idle. The Detroit automaker also said today that it will eliminate one […]
Shares of Interactive Intelligence Inc. plunged in after-hours trading after the Indianapolis call center software firm reported second-quarter net profit falling to $845,000 from $2.4 million in the same quarter a year earlier. The report was issued after markets closed. The shares plummeted 22.3 percent to $8.75 a piece. However, the company revenue hit a […]
By Norm Heikens Old National Bancorp today reported second-quarter profit of $19.5 million, up marginally from $19.3 million in the same period last year. The Evansville-based parent of Old National Bank also said revenue climbed to $109.4 million from $97.3 million. “Given the challenges that exist in the economy today and unprecedented challenges that exist […]
California voters are being asked this fall to vote on an initiative that would do away with tiny cages
for egg-laying hens and other staples of corporate agriculture.
The rights bill for farm animals is the most sweeping in…
You have to love an Indianapolis weekend when it’s impossible to get to everything you want to see.
While I caught Allalike Productions’ “bare,” Theatre on the Square’s remarkable “A Very Merry Unauthorized Children’s Scientology Pageant,” ShadowApe’s “Transformations” and ACT’s young…
Simon Property Group Inc. reported $427.9 million in funds from operations in the second quarter, a 14.7-percent increase from a year earlier and slightly more than analysts anticipated. The Indianapolis-based real estate investment trust also projected funds from operations for the year of $6.38 to $6.45 per share, nearly identical to the $6.35 to $6.45 […]
The big stories in the world of motorsports have been coming at such a high rate of speed, it’s been difficult to keep up.
The long weekend kicked off with Tony Stewart getting into an altercation with a U.S. Auto Club…
Sweeping diversification is necessary for the Elkhart area to snap its reliance on making recreational vehicles and manufactured housing, the Elkhart Truth opined in an editorial yesterday. A string of layoffs and other bad news from the sectors has rocked the area this month, raising questions about a difficult future for workers who know little […]
Kristy McKillip has taken a business development post with Indy Partnership after four years as executive director of Boone County Economic Development Corp. The Boone County group is one of 10 members of Indy Partnership, which markets the region to businesses looking to expand. McKillip’s new position involves building relationships with companies considering expansions in […]
Two giants of local business are preparing to slug it out in court over a soured sublease deal. Marsh Supermarkets filed
suit in Hamilton County this month to enforce a deal with Swiss pharmaceutical and medical-equipment powerhouse
Roche to sublease the grocer’s entire 148,000-square-foot headquarters in Fishers. The deal, worth more
than $47 million over 18 years, is one of the largest of its kind in central Indiana in years.
A housing crunch resulting from a flood of foreclosures has cast the spotlight on the deceptive practices that cause borrowers-particularly those with weak credit-to unknowingly pay more than necessary for a mortgage. The Federal Reserve earlier this month unanimously approved new lending rules in an attempt to tighten standards and prevent another such crisis. The changes will apply to all mortgage lenders and take effect Oct. 1, 2009. In the subprime category, a lender will have to assess a borrower’s…
Indiana is known as a state possessed of thoughtful and minimalist regulatory constraint of business. That’s why a littleknown law enacted in 2007, which further regulates mortgage brokers, should come as a shock to many Hoosiers. As of July 1, when the law became effective, roughly 600 Indiana mortgage brokers (perhaps 1/10th of 1 percent of all small businesses in the state) were out of compliance. When a one-month extension granted by Secretary of State Todd Rokita expires next month,…
Ron Pearson said business at his Indianapolis-based advertising agency over the last year has been “stellar.” Exaggeration or not, any growth at Pearson Partners is a 180-degree reversal from the dire situation the firm faced just a year ago. In April 2007, Pearson’s firm-then called Pearson McMahon Fletcher England-lost its biggest client, HHGregg. Last summer, Pearson cut nearly half its work force, paring the agency down to about 20 employees in the wake of losing the $20-million-plus account. Pearson’s capitalized…
Depending upon when IBJ lands in your hands, the 15th Allstate 400 at the Brickyard will be either coming to or going from the Indianapolis Motor Speedway. So let’s talk racin’. Let me begin by saying how pleased I am that Tony George took that giant leap in 1994 and welcomed NASCAR to the hallowed openwheel grounds of IMS. By most accounts, the Brickyard 400 instantly became the second-most-coveted prize on the NASCAR circuit and it has remained in that…
Tim Russert died last month at age 58. He was Washington bureau chief for NBC and the moderator of “Meet the Press.” His physician, Michael Newman, described the cause of death as coronary thrombosis-sudden cardiac arrest. Russert’s untimely death was possibly preventable. We can learn something here that may save lives at our businesses. Russert had been diagnosed with asymptomatic coronary artery disease that he controlled with medication and exercise. According to Newman, his stress test in April was normal….
Move over home computer, the more nimble mobile phone and competing handheld devices have taken the helm as the hippest ways to conduct banking business online. What’s more, an Indianapolis banking executive is at the forefront of the mobile-banking information movement and is promoting the benefits on a blog he created that is attracting scores of new viewers each month from around the world. Brandon McGee, 34, may keep bankers’ hours at the downtown office of the Columbus, Ohio-based Huntington…
Busy touting restaurants, artwork and other luxuries of the $1.1 billion midfield terminal, the Indianapolis Airport Authority
is still grappling with a few details arguably more important to passengers. Among them: How much will it cost to park? The
answer might be among the more surprising aspects of midfield. Officials are considering slashing rates
for the 5,900-space successor to Indianapolis International’s existing 1,776-space garage.
Labor Department figures show that average annual family incomes in the United States, adjusted for inflation, have grown just 0.8 percent since the end of 2001. On the other hand, executive pay and severance pay for fired CEOs has skyrocketed. At the very least, the average family shareholder deserves a thank you. Surely if you are a shareholder of AIG, you expect a kind word from ex-CEO Martin Sullivan who left in June with a $47 million severance package-despite AIG’s…
It is likely that “Chakaia Booker: Mass Transit,” the 10-piece exhibition running through April 1, will invite a greater negative reaction than the two previous public art shows that dotted downtown. Unlike Tom Otterness-with his rounded smileys masking money-is-evil messages-and Julian Opie-many of whose “Signs” could have served as, well, signs-Booker creates work that is abstract, defiant and unpolished. The pieces-constructed from tires-aren’t pretty, they aren’t funny, they aren’t slick and they don’t seem aimed to please. As such, they…
