 |
 |
 | | | |
 DJIA 11,375 +28.2 / S&P 500 1,283.5 +5.1 / NASDAQ 2,311.1 -4.6
 |  |  Tonight: Clear and cool. Low 55. Tomorrow: Lots of sun. High 81.
| |
|  Monday, June 30, 2008 |
|
Chicago bank buys White River Capital
White River Capital Inc., the Indianapolis holding company that owns Union Acceptance Corp. and Coastal Credit LLC, has agreed to be acquired by First Chicago Bancorp, the parties announced today. First Chicago is the parent of First Chicago Bank & Trust, a community bank that specializes in servicing small- and medium-sized businesses. Both White River businesses acquire and service sub-prime car loans from auto dealers. The deal means Union Acceptance's Indianapolis operations will be phased out. 
Brightpoint slashing jobs in Europe
Wireless device distributor Brightpoint Inc. said today it will cut 275 to 325 jobs as it reorganizes its European operations. By the end of 2008, Brightpoint will cut 50 to 75 positions at its current European division headquarters in Denmark and trim 225 to 250 positions at its European operating entities. The Plainfield-based company expects these changes and other efforts to result in $25 million-$30 million in annualized spending reductions.
|  | | | |
|  | Nestle plans expansion of Anderson plant
Nestle plans to seek permission for an expansion that could add 140 jobs at its Anderson bottling plant. A city Board of Zoning Appeals report says the company will ask Wednesday for a special exception allowing a 260,000-square-foot expansion. Nestle broke ground on the $359 million plant in 2006 to make and distribute Nesquik and Coffee-Mate.
Ex-supplier sues handbag maker Vera Bradley
The owner of a company that used to assemble handbags and other accessories for Vera Bradley Designs Inc. is suing for breach of contract. The suit was filed by Robert Hinty, a majority owner of three companies that had contracts to sew products for Vera Bradley. In March, Fort Wayne-based Vera Bradley announced it was taking the business in-house. Hinty, in turn, laid off hundreds of workers.
Firestone may close Noblesville air-spring plant
Firestone Industrial Products Co. may close its air-spring manufacturing facility at Noblesville because of competition from foreign markets and what the company calls "substantial losses" at the central Indiana plant. The subsidiary of Indianapolis-based Bridgestone Firestone Diversified Products sent a notice of possible closure yesterday to the United Steel Workers Union. The union represents about 250 of the 300 employees at the plant.
Cummins spent $410K lobbying government in 1Q
Diesel engine maker Cummins Inc. spent $410,000 in the first quarter lobbying federal policymakers on fuel regulations, climate change and other issues, according to a recent disclosure report. The Columbus-based company lobbied on developing diesel technology for heavy and light duty trucks, emissions standards, energy efficiency and tax incentives, according to the report filed April 21 with the House clerk's office. In the first three months of the year, Cummins lobbied the White House's Office of Management and Budget, Environmental Protection Agency and Transportation Department.
Great Lakes compact focus shifting to Congress
A year ago, it seemed a proposed compact designed to prevent raids on the Great Lakes might be sunk by squabbles in the states with jurisdiction over nearly one-fifth of the world's fresh surface water. Now the deal is close to ratification on the state level, and supporters are beginning to plot strategy for the final step: winning approval from Congress and the White House.
Average price of homes rise in six counties
The average sales price of homes sold from March through May increased in six central Indiana counties, from the same period a year ago, according to the Metropolitan Indianapolis Board of Realtors. Prices rose from 16 percent, to $212,524, in Brown County to 8 percent, to $249,603, in Boone County. The other counties that saw increases during the period were Hendricks, Montgomery, Morgan and Putnam counties. The average sales price in the other seven counties fell by 2 percent to 17 percent. | | | |
|
Meet Indiana's new poet laureate
Norbert Krapf is the state's latest poet laureate. Lou Harry's A&E
Base closings and health care
Could a commission solve our health care problems? NewsTalk
IRL manufacturers meeting draws crowd
Audi, BMW and Volkswagen may become series suppliers. The Score
From IBJ staff - Compiled by Norm Heikens
Metro police officer in court
Indianapolis Metropolitan Police Department Detective Jason Barber was scheduled to appear in court this morning on charges that he sold a handgun to a convicted felon and official misconduct. Investigators said Barber sold the handgun to a confidential informant he knew was a convicted felon. FOX 59 will have an update at 10.
|  | | | |
| Indiana Green Beret killed in Afghanistan
An Indiana Green Beret from Goshen has been killed while serving in Afghanistan. Sgt. Travis Hunsberger, 24, was killed by a roadside explosion Friday. Hunsberger was serving his second tour of duty in Afghanistan.
State police trooper hit by car
Indiana State Police Trooper Jeff Woodward was struck by a motorist while changing a tire on Interstate 465 on the west side yesterday morning. State police said Amber Harper, 19, lost control of her vehicle while trying to pass the squad car. She hit the squad car, which hit the disabled vehicle. Woodward was taken to Methodist Hospital with injuries to his legs and back. Harper received multiple violations including reckless driving, speeding and not having a driver's license present.
Lender claims tower
A Maryland company has taken ownership of downtown's 28-story M&I Plaza just three months before a major tenant departure leaves the skyscraper 70-percent vacant.
Inventing Midtown
A group wants to revive some North Meridian Street neighborhoods and give them a collective identity called Midtown.
Chain's account may be in play
Ailing Steak n Shake has rehired local advertising powerhouse Young & Laramore, but observers wonder if the relationship is about to run its course.
| | | |
|
| |  | | | | n 52 weekly issues plus annual Book of Lists (valued at $35.00)
n News, people, analysis and trends of the business community
n More than 30 special interest publications
n And much, much more | | | | | Click HERE for Bonus Subscription Offer | |
| | | |
|
| |
| |
