Trucking firm Celadon offered $200M loan in exchange for fifth of company
The struggling Indianapolis-based company said it has arranged a much-needed loan but must give up a major ownership stake and board seats to receive it.
Distribution & Logistics
Articles
Indiana man to auction Corvette pace car collection in Indianapolis
The cofounder and chairman of Fort Wayne-based Steel Dynamics Inc. is planning to sell his 16-car collection in one package.
Amazon’s reveals its Prime service has 100 million members
CEO Jeff Bezos quantified the size of Amazon’s Prime membership for the first time Wednesday. Amazon launched the service 13 years ago as a way to foster customer loyalty.
Death on Southwest plane shatters record U.S. safety string
Almost 100 million U.S.-operated airline flights, carrying several billion people, had taken off and landed safely in this country over a nine-year span since the last time a passenger died in an accident.
State awards contract for widening Interstate 69 in central Indiana
State officials have awarded a $79 million contract to widen a section of Interstate 69 to six lanes northeast of Indianapolis.
Allegiant Air under fire after ’60 Minutes’ safety report
Allegiant, which opened a $40 million aircraft base at Indianapolis International Airport in February, experienced more than 100 serious mechanical incidents from January 2017 to October 2017, the TV news show reported.
Construction begins on $16M Lowes Way connection project
Hamilton County breaks ground Friday on the Lowes Way Connection, which will link 146th Street drivers to southbound Keystone Parkway.
Could warehouse robots replace workers? The answer is mixed.
The number of warehousing and storage jobs in central Indiana has more than doubled since 2001, both in numbers and as a percentage of total local jobs.
Report: Airlines improve in key areas except delays
U.S. airlines are getting better at many things except getting you to your destination on time.
Agreement puts tourism train excursions on track in Hamilton County
The Hoosier Heritage Port Authority and Nickel Plate Heritage Railroad Inc. have approved a 15-year operating agreement, making way for the new Nickel Plate Express tourism rail line to begin offering rides this year.
Indianapolis joins cohort of big cities exploring cutting-edge transportation ideas
City leaders will collaborate with officials from 21 other major municipalities to share best practices with a focus on creating transportation hubs and reshaping the use of right-of-way and curb space.
Firm launched by Purdue students aims to go where no man has gone before
Five 20-something-year-old entrepreneurs affiliated with Purdue University are pioneering technology involving rockets, satellites and hot air balloons that has gained far-reaching interest from an eclectic set of potential clients ranging from New Zealand sheep herders to oceanic pirate hunters.
Zero-percent auto loan era fading into America’s rearview mirror
Carmakers that used zero-percent financing offers to juice sales at the height of the American auto boom are starting to abandon them as rising interest rates lift their own borrowing costs.
Celadon’s financial-reporting issues much worse than expected
An internal probe found Celadon overstated earnings by as much as $250 million from 2013 to 2016. The local trucking company said it will be delisted from the New York Stock Exchange.
Trump administration moves to cut Obama-era fuel-efficiency rules
The Trump administration announced that fuel-efficiency regulations for cars and light trucks are too stringent and must be revised.
Indy airport gets kiosks to ease customs for international travelers
The new Global Entry kiosks re intended to save low-risk, pre-approved international travelers valuable time. The airport’s inaugural, nonstop trans-Atlantic flight to Paris begins in May.
Hogsett retools tactics on commuter tax
Mayor Joe Hogsett hopes to convince legislators that other Indiana cities, not just Indianapolis, could benefit from a non-resident income tax or the redistribution of income tax revenue.
UPDATE: Manufacturer SMC planning $68M expansion in Noblesville
The largest private employer in Noblesville is planning a mammoth new facility and dozens of new jobs at its North American headquarters campus.
Indianapolis ponders commuter tax to fund road repairs
Indianapolis officials desperate for money to repair roads are considering whether they should try to collect income taxes from suburbanites who don't live in the city but who travel there for work.
Bill to lift Indianapolis-area ban on light rail goes off track
State Sen. Jim Merritt, R-Indianapolis, declined to call up House Bill 1080, which he sponsored in the Senate, for amendments on Monday afternoon before the Senate’s deadline.