Republic Airways prices stock offering
The Indianapolis-based company said it plans to raise $88.5 million by pricing 12 million shares of its common stock at $7.80 each in a public offering.
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Motor maker Remy plans expansion driven by electric vehicles
Motor maker Remy International will embark on a major expansion next spring to satisfy growing demand from makers of hybrid and electric vehicles—and Madison County officials think they’re well positioned to land the jobs.
Retail sales at Indianapolis International Airport edge up
Revenue is uneven between the two concourses in the new midfield terminal, but overall sales nevertheless are outpacing growth in passenger traffic.
Arson ruled out in $7M fire at airport hangar
The Indianapolis Airport Authority leases the hangar to ComLux Aviation Services, which uses it to maintain and refurbish business aircraft.
Funding biggest obstacle for proposed regional transit system
Scaled-back transit plan, which includes rail line from downtown to Noblesville and Franklin, is projected to cost $2.4 billion, with local taxpayers picking up about half the amount. Funding would need to be approved through county referendums, however.
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.
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.