Tech exec Owens drops bid for governor, endorses Myers
Supply Kick CEO Josh Owens said the move to suspend his campaign—which comes two days before the candidate filing deadline—lets Woody Myers become the party’s presumptive nominee.
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400-unit apartment property in Castleton sells for $36.5M
The sale of the 37-year-old complex near Interstate 69 and 82nd Street gives Muesing Management 19 properties in the Indianapolis area.
Town of Speedway announces plans for 25-acre project near I-465
The project is expected to include a 127-room Hampton Inn and conference center, a national grocer, restaurants and retail space, and possibly senior housing and medical offices.
Regional airline to add base, new nonstop routes at Indianapolis International Airport
The airline, which plans to create 55 jobs and establish three nonstop routes from Indianapolis, plans to immediately begin hiring pilots, flight attendants, customer service agents, mechanics and ground personnel to support the new operations.
State Sen. Spartz makes run for Congress official
The announcement comes less than a month after Sen. Victoria Spartz publicly disclosed she was “suspending her race for state Senate to explore her run for Congress.”
U.S. trade deficit sees first annual decline in six years
The Commerce Department said Wednesday that the gap between what the United States sells and what it buys abroad fell 1.7% last year, to $616.8 billion.
High Alpha podcast software firm lands $2.35M in seed funding
The latest is firm for venture studio High Alpha is Casted, a software-as-a-service firm that markets a platform for branded podcasts—those produced by businesses and other organizations.
Developer plans eighth floor, 39 more rooms for downtown hotel project
Original plans called for a 99,000-square-foot, seven-story building with 104 Moxy rooms and 102 AC Hotel rooms. The new plan includes 126 Moxy and 119 AC rooms in a structure of just more than 113,000 square feet.
Henke Development Group proposes massive real estate project in Lebanon
Westfield-based Henke Development Group is seeking approval for a 2,000-acre master-planned community with retail stores, apartments, an industrial park, a golf course and thousands of residential units along Interstate 65.
Trump uses State of Union to extol ‘great American comeback’
The partisan discord was on vivid display as the first president to campaign for re-election while facing impeachment made his case for another term: Republican legislators chanted “four more years.” House Speaker Nancy Pelosi ripped up her copy of Trump’s speech as he ended his address.
Teacher gun training program clears Indiana Senate
The state Senate voted 42-7 Tuesday in favor of the bill that specifies a 40-hour training program for teachers volunteering to be armed, followed by 16 hours of additional training each year.
Senator drops push to force Indiana marijuana prosecutions
The proposal followed the Indianapolis prosecutor’s new policy of not pressing charges for possessing small amounts of marijuana.
Macy’s to close 125 stores, shed 2,000 corporate jobs
Macy’s said Tuesday it is closing 125 of its least productive stores and cutting 2,000 corporate jobs as the struggling department store tries to reinvent itself in the age of online shopping. The store closures represent about one-fifth of Macy’s current total. They include about 30 that are in the process of closing and account […]
Partial Iowa returns put Buttigieg in lead, with Sanders close behind
Nearly 24 hours after voting concluded, Iowa Democratic Party officials released a partial vote count that showed Pete Buttigieg leading with 26.9%. Bernie Sanders was in second with 25.1%. Sen. Elizabeth Warren had 18.3% and former Vice President Joe Biden had 15.6%.
Embattled Rep. Forestal won’t seek re-election; city councilor to seek his House seat
State Rep. Dan Forestal, a Democrat facing charges of drunken driving and impersonating a public servant, said he will not seek re-election so that he can “focus on my mental health.”
Simon Property holds deal talks with Taubman, sources say
The talks come as a wave of retail bankruptcies squeeze mall-oriented real estate investment trusts, putting pressure on the industry to consolidate.
Tech companies lead U.S. stock rally following global gains
Technology companies and banks led a broad rally for U.S. stocks in midday trading Tuesday following solid gains overseas as China took more steps to soften the financial impact of the virus outbreak.
Cummins sees 4Q sales drop, expects bigger revenue decrease this year
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Clock ticking for companies that depend on China imports
If much of industrial China remains on lockdown for the next few weeks, Western retailers, auto companies and manufacturers that depend on Chinese imports will start to run out of the goods they depend on.
Century-old Diamond Chain downtown plant with 240 employees set for closure
New owner Timken Co. plans to consolidate the local plant’s operations in Illinois. Diamond Chain was founded in 1890 as the Indianapolis Chain & Stamping Co., originally to produce chains for the nation’s fast-growing bicycle industry.