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.
Transportation
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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.
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.
New food transport rules could boost big trucking firms most
Indianapolis-based Celadon Group Inc. is banking that a new federal food safety rule will help it take a bite out of its competition—in part because smaller carriers won’t be able to afford to comply.
Credit ratings agency downgrades bonds issued for I-69 project
The most recent downgrade was driven by concerns over whether the company hired to design and build the segment will be able to meet its financial obligations.
Local wiener eatery hawking franchises for convenience stores
King David Dogs is pursuing growth through gas stations and travel plazas by franchising kiosk-sized versions of its downtown restaurant, known for its quarter-pound, all-beef hot dogs.
Rise in internet-connected devices creates new cybersecurity concerns
Aerospace and defense companies are working to thwart digital attacks from several sources and expect huge demand for workers in the field.
Judge OKs Republic Airways bankruptcy-reorganization plan
The approval clears the way for the Indianapolis-based airline to emerge from Chapter 11 as a privately held company by the end of the month.
Details of Indiana road-funding agreement begin to emerge
Indiana lawmakers plan to release a broad outline Thursday afternoon of an agreement to raise taxes in order to fund road projects.
Lawsuit alleges SEC investigation, financial cover-up at Celadon
The plaintiff says he was harmed financially because he purchased Celadon stock at “artificially inflated prices.” The company’s shares declined after allegations of misleading statements and a federal probe.
Denison CEO Pratt departs after 15 years with company
Jeff Line, the parking company’s executive vice president and chief operating officer, will take over as president May 1.
Lawmakers reach tentative agreement on road-funding package
Indiana House Speaker Brian Bosma said the deal hits the "sweet spot" of both chambers' priorities.
KAR Auction acquires startup tech company for $43 million
Carmel-based KAR Auction Services Inc. said the acquisition of Chicago-based startup CarCo Technologies Inc., which does business as Drivin, will beef up its technology capabilities.
Truck maintenance firm gears up for growth with new investment
A private equity firm has purchased a stake in a local family-owned company with operations across the country as its two founders retire and the next generation takes the helm.
United changes policy on displacing seated passengers
The change comes after a passenger, Dr. David Dao, was dragged from a fully-booked United Express flight in Chicago because he refused to give up his seat to make room for crew members