Republic Airways profit soars on acquisitions
Indianapolis airline plans a public offering of 12 million shares of common stock that could raise $100 million or more.
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Fire causes $7M in damage to Indianapolis plane site
A fire has swept through an airport hangar in Indianapolis, causing $7 million in damage to the building and an unknown amount of damage to five planes inside.
Pilots unhappy over airport changes in Greenwood
Pilots say they’re upset by changes since new management took over and have begun go to Shelbyville and other airports to buy fuel. Some are even considering moving their planes.
City revokes four cab companies’ licenses
The license revocations stemmed from violations such as failure to maintain a dispatch log, failure to maintain a dispatch facility and failed body or mechanical inspections.
KAR Auction reports higher profit, revenue
The auction company had revenue of $445.3 million in the quarter ended Sept. 30, a 4-percent increase from same quarter of 2009. Profit tripled, to $25.6 million.
FinishMaster reports higher quarterly sales, profit
The Indianapolis-based distributor of automotive paints and accessories said its third-quarter profit climbed nearly 16 percent, to $3.5 million. Revenue increased 3 percent, to $108.8 million.
Celadon’s quarterly profit, revenue improve
The Indianapolis-based trucking company reported revenue of $140.3 million for the fiscal first quarter and profit of $4.4 million.
American Commercial Lines sued over $777M buyout bid
Officials of Jeffersonville-based American Commercial and private-equity firm Platinum Equity LLC structured the $33-a-share offer in a way that unfairly bars other bids for the shipping company, American Commercial shareholder Leonard Becker said in his lawsuit.
Defunct ATA Airlines awarded $66M in FedEx lawsuit
An Indianapolis jury has returned a $65.9 million verdict against Memphis-based FedEx in a breach-of-contract lawsuit brought in 2008 by now-defunct ATA Airlines.
N.Y. attorney general sues FedEx over driver status
The Memphis, Tenn.-based company, which has a distribution hub in Indianapolis, says its contract-driver model is legal and was approved for tax purposes by the U.S. Internal Revenue Service in 1994.
Indiana will spend $77 million to reduce impact of new I-69
Environmentalists not impressed, say state is doing the minimum to comply with federal law.
Monday morning commute downtown could be messy
Motivational event bringing 13,000 people to Conseco Fieldhouse is expected to snarl downtown traffic during the early morning commute.
City rolls out revised parking-meter deal
City would reap more cash in the long run and get more flexibility to alter the deal if necessary, but the controversial 50-year term of the contract remains.
Jeffersonville shipyard part of proposed $777M deal
American Commercial Lines Inc. announced Monday that Los Angeles-based Platinum Equity has offered a $777 million for the company, which includes the Jeffboat shipyard in Jeffersonville.
Pact cuts costs for airlines at Indianapolis International
A new agreement brings favorable outcome to negotiations that bottomed in 2007, when passenger carriers complained of footing bill for FedEx Corp.’s airport expansion.
Frontier could seek marketing deal with major airline
Frontier Airlines may seek a marketing agreement with a major carrier as industry collaboration continues, said Bryan Bedford, chief executive of Indianapolis-based parent company Republic Airways Holdings Inc.
East-side distribution center with 80 workers set to close
Oshkosh, Wis.-based Hoffmaster Group said the plant at 2525 N. Shadeland Ave. will permanently close by Feb. 28. The facility distributes paper plates, napkins and party invitations.
Funding about to expire for IndyGo’s north-suburban routes
The luxury coach routes from downtown to Fishers and Carmel were launched three years ago and have been popular among suburban commuters.
Newsweek notes safety record of Carmel’s roundabouts
Carmel leads the nation in revamping intersections and has seen an 80-percent drop in injury accidents as a result, the magazine noted.
United Way steps in to help Morgan County’s flood repair
The grant came from a $45 million pool created by Lilly Endowment Inc. in 2008.