 |
 |
 | | | |
 DJIA 13,642.2 +22.3 / S&P 500 1,501.1 +1.7 / NASDAQ 2,709.8 +0.8
 |  |  Tonight: Light wintry mix. Low 32. Saturday: Light wintry and rain mix. High 38. Sunday: Rain showers. High 46.
| |
|  Friday, December 7, 2007 |
|
Company investing $23M in Eastgate project
A locally based data storage company has agreed to buy the former Eastgate Consumer Mall on the far east side and plans to invest $23 million to turn the 370,000-square-foot building into a high-tech data hub. This morning, executives with Lifeline Data Centers LLC joined Mayor Bart Peterson to announce the deal, which was first reported on ibj.com. Lifeline will be eligible for a five-year tax abatement worth about $1.4 million, since the former mall property is located in a revitalization district. 
Simon loses $26M on Arizona housing project
Indianapolis-based mall developer Simon Property Group Inc. said today it plans a fourth-quarter write-off of $26 million, the entire value of its equity investment in a master-planned community proposed for a suburb of Phoenix. Simon and two partners acquired 5,485 acres from automaker DaimlerChrysler Corp. in early 2006 for $312 million. The property had been a vehicle endurance test site.
|  | | | |
|  |
Convention chief Bedell to retire
Bob Bedell, president of the Indianapolis Convention & Visitors Association, announced today that he will step down at the end of June. "There is no good time, but this is the right time [to leave]," Bedell said, adding that he's accomplished his goals of growing the association to handle a promised increase in business. Bedell worked as ICVA's senior vice president from 1986 to 1993, then moved to St. Louis to head up its convention commission. In 2002, he returned to the ICVA's top job.
Subaru fills new Whitestown warehouse
Subaru of America Inc. has opted to fill the remainder of a Boone County warehouse it began leasing in January, the developers said yesterday. The Japanese automaker has taken 281,880 additional square feet to bring its total occupancy to 501,120 square feet, according to Indianapolis-based Browning Investments and ProLogis, a Japanese logistics company. The warehouse is the only building in Park 267, which is at Interstate 65 between state roads 267 and 334.
Analysis of BP refinery case finds inconsistency
An independent analysis of the regulatory process Indiana used to approve a permit boosting pollution discharges from BP's Whiting, Ind., refinery into Lake Michigan concludes that the permit fully complies with federal and state laws. But the report released yesterday also highlights problems with Indiana's regulatory process that its author said helped fuel an uproar this past summer over the wastewater permit for the nation's fourth-largest refinery.
European sales drive Hurco profit
Indianapolis-based Hurco Cos. Inc., Indiana's only machine-tool maker, this morning reported fourth-quarter profit of $5.6 million, or 88 cents per share - 20 percent higher than at the same time last year. A strong European market aided by a weak dollar, which makes Hurco products less expensive to buy overseas, is fueling the sales growth.
Commission OKs changes in casino ownership
The Indiana Gaming Commission yesterday approved changes in the ownership structure of the French Lick Resorts & Casino, giving the Bloomington-based Cook Group 99 percent of the development and a Cook-affiliated company the remaining 1 percent. The development includes two historic hotels and a newly built casino. Attorney Ed Broecker told the gaming commission that the new ownership structure includes an organization called the Blue Sky Trust, which will distribute 50 percent of the development's profits to charities.
| | | |
|
Now there's one fewer 'First Federal' bank
A bank in Wabash has changed its name rather than go on battling confusion over seven other banks in the state operating with First Federal as part of their names - three of them within 50 miles. First Federal Savings Bank will be called Crossroads Bank when the new year begins, according to The Journal Gazette of Fort Wayne. Little else is expected to be different for the 87-year-old institution. "A lot of times we look at something and we can't do it because how can you go into a market with another First Federal," said President and CEO Roger Cromer. "How would we distinguish ourselves?"
Drug companies brace for new FDA oversight
Drug developers such as Indianapolis-based Eli Lilly and Co. are just beginning to grapple with recent FDA oversight reforms, but already industry and consumer advocates disagree on how well the overhaul will be able to prevent future drug- safety scandals. Signed by President George W. Bush in September, the measures give the Food and Drug Administration more authority over and responsibility for the safety of prescription drugs after they hit the market.
|  | | | |
| Blog: Stopping the tax buck
We Hoosiers are getting value from the libraries, schools and other public services we fund with our taxes, but not enough value-at least according to Mike Hicks, who moved from Ohio this year to take over the Bureau of Business Research at Ball State University. The problem, Hicks says, is the collective weight of all those spending decisions drives up the overall tax bill more than most communities can justify. Hicks' solution is to route all local spending decisions through one office or commission charged with deciding whether the library wing or school is the better use of money. Do you agree? Join the conversation at IBJ's new blog, News Talk.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Overnight fire leaves one dead
Investigators are trying to figure out what caused an overnight fire southeast of downtown in the 6800 block of Stanley Road. Lloyd Hanger, 83, Indianapolis, was killed in the fire. Fire crews said they had a hard time getting water to put the fire out because of a frozen hydrant or low water pressure. Fox 59 will have more at 10 p.m.
Agency files released in 3-year-old's death
After an internal investigation, the Department of Child Services is expected to issue a full report on the TaJanay Bailey case next week. A judge released almost 1,500 pages of confidential case files yesterday, showing there were concerns about her trial reunification with her mother, Charity Bailey, and Lawrence Green. Charity Bailey and Green are charged with beating the girl to death.
Online auction benefits local food bank
WXIN-TV Channel 59 and sister station WTTV-TV Channel 4 are holding an online auction to benefit the BackSack program of Gleaners Food Bank. The program provides nutritious, kid-friendly food to children who do not have access to meals on weekends. You can participate by logging on to www.fox59.com and clicking on the auction link that will take you to a variety of items, including an autographed Peyton Manning jersey and a Gene Keady autographed basketball.
| | | |
| | |
| | |
| | |
No comments:
Post a Comment