CSX shutting down Avon locomotive maintenance facility
CSX said the closure is part of a companywide effort to cut costs amid a huge decline in coal-carrying revenue.
Distribution & Logistics
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Running shoe retailer considers relocating distribution center to Whitestown
Seattle-based running gear retailer Brooks Sports Inc. is considering opening a major distribution warehouse in Whitestown that could generate more than 100 new jobs.
Cost of cleanup at Noblesville museum site could reach six figures, city says
Indiana environmental officials believe contaminants recently found on the site of the Indiana Transportation Museum are oil-based but don’t think an emergency response is needed.
Charities caught in Celadon founder’s estate dispute
Several local not-for-profit and community groups are caught in a family dispute over the $31 million estate of Stephen Russell, the Celadon Group Inc. co-founder who died last year at age 76.
UPDATE: Noblesville says museum mishandled chemicals on park grounds
City officials said Wednesday that they have asked the Indiana Transportation Museum to clean up the contamination. An ITM official suggested the city’s move was motivated by a debate over the fate of the Nickel Plate Railroad.
Busy travel season expected; airlines could set record
By air or car, traveler numbers are expected to rise over last year thanks to a decent economy and stable gasoline prices.
U.S. security official mulling expanded airplane laptop ban
Homeland Security Secretary John Kelly said Sunday he’s considering banning laptops from the passenger cabins of all international flights to and from the United States.
Indy boasts innovations others could copy
It’s tough to look at your own community and figure out what it’s doing that no one else is. But IBJ gave it a shot. Here are four things other cities could copy from us.
Ford ousts CEO, taps head of autonomous-vehicle unit as successor
The departure of Mark Fields comes amid sharp criticism of Ford's strategy by shareholders, and a more than 30 percent plunge in the company's stock price during his tenure.
Airport fast-tracking efforts to land transatlantic flight
With conditions ripe for attracting an airline offering service to a destination such as London or Paris, officials with the Indianapolis International Airport have hired the Indy Chamber to help lay the groundwork.
Indy airport selling 145 acres in Plainfield to real estate developers
In two acquisitions totaling nearly $9 million, one firm plans to expand an existing business park while the other has a big logistics facility in mind.
Competing interests debate future of Nickel Plate Railroad
The fate of the historic Nickel Plate Railroad could be decided this summer—but there’s no consensus on what the corridor should look like or on the impact or costs of projects.
BEHIND THE NEWS: Inside the issues that grounded Celadon
The trucking company's financial statements became decidedly more opaque after October 2015, when it set up an off-balance-sheet truck-leasing joint venture in which management held ownership.
Airline says Indianapolis-Seattle route off to strong start
Daily nonstop service between the two cities begins Thursday. Optimism over demand and Indianapolis’ tech sector already have persuaded Alaska Airlines to add service to San Francisco.
Postal Service, citing losses, seeks higher stamp prices
The postal service on Wednesday reported a quarterly loss of $562 million, despite growth in package delivery, due to continued erosion in the use of first-class mail as well as expensive mandates for its retiree health care obligations.
Celadon in danger of delisting by NYSE because of reporting failures
The delinquency occurred when Celadon’s auditor, BKD LLP, withdrew its reports on the trucking company’s financial statements for the periods ending June 30, Sept. 30 and Dec. 31 of 2016.
Celadon execs avoid live questions in brief conference call
The troubled Indianapolis-based trucking company conducted a conference call Wednesday to answer questions about its latest accounting issues, but the call lasted 18 minutes and investors didn’t get to talk.
Celadon shares plummet after company admits to accounting woes
Shares in the Indianapolis-based trucking company dropped as much as 67 percent Tuesday morning. At least 16 law firms say they have filed lawsuits against the company or are investigating doing so.
Celadon replaces president as financial challenges, questions mount
The Indianapolis-based trucking company is dealing with auditing issues, liquidity challenges and scrutiny from its lenders. It expects to report a $10 million quarterly loss.
IndyGo’s hopes remain alive for federal Red Line funding
The House’s $1 trillion federal spending bill, crafted over the weekend, includes $50 million for the Red Line. Project funding has been in limbo for more than a year.