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Hotels feeling travel slump: City occupany rates fall, but downtown operators performing well this year thanks to convention biz

Staggeringly high gasoline prices and a sputtering economy are preventing scores of would-be travelers from packing up their thirsty sport-utility vehicles and heading to their favorite vacation destinations. Nationwide, hotel occupancy rates slipped to 68 percent through June of this year, down from 71 percent the same time last year, according to the most recent data from Tennessee-based Smith Travel Research. For the most part, local hotel operators are feeling the same pain. Through the first six months of the…

INVESTING: Financials are way down; don’t be tempted to buy

They say the bodies are piled high on Wall Street of those who were right at the wrong time. Well, with all the soured predictions about financial stocks the last year, the grave diggers have been especially busy. It began around a year ago when Bear Stearns began to plunge, and a famous currency trader from England put a few hundred million dollars into the stock. It was at about $120 at the time. Then, Bear fell to $100 in…

Hat World shows sign of recovering from lackluster year

The locally based headwear retailer Hat World made a name for itself by snatching up competitors and opening hundreds of
stores around the country. However, after sluggish sales in the fiscal year that ended Feb. 2, the company–a
unit of Nashville, Tenn.-based Genesco Inc.–says it plans to open fewer stores than usual this year so
officials can put their focus back on existing operations.

A&E: On stage, the kids are alright

Last year, American Cabaret Theatre’s young adult production of “High School Musical” was, well, a very good high school musical. If you happened to be talked into going because your niece was in the cast, you would have had a surprisingly good time. This year ACT’s young adult “The Wiz” (running through Aug. 17) is similar. If this were a high school show, you’d be amazed at the vocal talent. If you approached it as children’s theater, you’d be impressed…

IU names Crean to AD search team

Indiana University President Michael McRobbie announced this afternoon that the school has formed a 13-person search committee to find a replacement for athletic director Rick Greenspan. The search committee will include faculty members, administrators and alumni. The search committee will be…

Law practices merge into 7-attorney firm

Two area law firms, Coleman Stevenson LLC and The Montel Law Firm PC, have merged. Coleman Stevenson specializes in corporate law, real estate, governmental services and civil litigation. The Montel Law Firm specializes in mergers and acquisitions, corporate finance, and real estate and land development. The new firm, which has seven attorneys and three support […]

Tracy, Subway could be back in IRL

Open-wheel race driver Paul Tracy may not be done this year on the Indy Racing League circuit. This morning, Walker Racing officials told IBJ they continue to work with Subway Restaurants and other…

BREAKING: Brightpoint moving HQ to Indianapolis

Wireless-device distributor Brightpoint Inc. is moving its headquarters from Plainfield to northwest Indianapolis, near where it was founded almost 20 years ago. The company, which has about 65 headquarters employees and about 1,000 workers in Indiana, plans to share a new building with software developer Interactive Intelligence Inc. and engineering firm Woolpert Inc. along Interstate […]

Logistics firm to open warehouse, hire 30

Louisiana-based Cross Road Centers, a third-party logistics provider, plans to spend about $6.7 million to open a distribution center near Indianapolis International Airport and hire 30 workers by 2011. The 600,000-square-foot warehouse will be in an existing Duke Realty Corp. building in the AirWest Industrial Park. Cross Road Centers expects to open the facility by […]

IU receives record $525M in grants, awards

Indiana University announced that it received a record $525.3 million in grants and awards for research and other programs in the 2007-08 fiscal year. The amount was an increase of 21 percent over the prior year. IU said $263.4 million came from federal sources, also a record. It was the first time any school in […]

Back in time: Buildings in the news

First off, an update on the new plans for the Grain Dealers building: London Witte Group has hired locally based Lynn Hines Design Associates to…

Tour victory rolls out of Speedway

Carlos Sastre’s Tour de France victory was cemented in Paris July 27, but the wheels that carried him to victory were made in Speedway.

While Zipp Speed Weaponry has been providing high-end bicycle wheels…

‘Bodies’ raises questions

“Premier cannot independenty verify that the human remains you are viewing are not those of persons who were incarcerated in Chinese prisons…”

So say the presenters of “Bodies…the Exhibition,” the controversial show–featuring cadavers, body parts, and organs–being presented here at Claypool…

Hoosier Orchid Co. closing in August

By Erik Stegemiller Special to IBJ Hoosier Orchid Co., a far-northwest-side company that grew to become one of the nation’s most specialized orchid growers, is going out of business at the end of August. Founder William Rhodehamel said the ornamental flowers have become a commodity now stocked even at stores like Costco. “It used to […]

City to BW3: Not so fast

City planners are seeing red over the bright yellow facade at a new Buffalo Wild Wings under construction along Washington Street downtown. Turns…

Joblessness jumps in Elkhart area

Only one other area of the country saw its unemployment rate jump faster in June than the Elkhart and Goshen region in northern Indiana, the U.S. Bureau of Labor Statistics reported today. Elkhart’s rate shot up 2.8 percentage points, to 7 percent, from June last year. That rise tied with identical increases in Cape Coral-Fort […]

IRL works on schedule, TV deal

At 2 p.m. today, IRL officials are expected to unveil their 2009 schedule. Motorsports sources tell IBJ there will be 18 races next year (10 ovals and eight road courses), with the Nashville…

Finish Line to expand headquarters, warehouse

By Norm Heikens The Finish Line Inc. plans to add 180 employees over five years in an expansion of its warehouse and headquarters on the far-east side, the Indiana Economic Development Corp. announced today. Finish Line, a mall retailer specializing in athletic shoes and clothing, has 670 employees in Indianapolis and 13,000 nationally. The state […]

Republic speeds elimination of small jets

By Norm Heikens Republic Airways Holdings, the Indianapolis-based parent of Chautauqua Airlines, Republic Airlines and Shuttle America, said yesterday it will accelerate its schedule to do away with a small, 37-seat jet used to carry passengers for Delta Air Lines. The 11 remaining Embraer E135 aircraft will be removed from service by Sept. 30 instead […]