The Indiana Economic Development Corp. has named Kent Anderson vice president of business development. He replaces Charlie Sparks who is pursuing new endeavors. Anderson has been serving as director of business development and helped the IEDC secure deals with more than 110 international companies that could lead to more than $3 billion in investment over the next few years.
Galindez to Retire From Dow AgroSciences
A leadership change is taking place at Indianapolis-based Dow AgroSciences. Chief Executive Officer Antonio Galindez will retire from the company May 1. He started with the Dow Chemical Co. in 1983 as a sales representative in Spain. Dow Agro's global commercial leader, Tim Hassinger, will take over as CEO.
Business Dean Leaving UE For Butler
Butler University has named Stephen Standifird dean of its College of Business. He has been serving as the dean of the Schroeder School of Business at the University of Evansville. The current dean at Butler, Chuck Williams, plans to step down at the end of May.
Stellar Communities Finalists Named
Lieutenant Governor Sue Ellspermann has named six finalists for the 2014 Stellar Communities Program. They are the cities of Decatur, Huntingburg, Marion, Mount Vernon and Wabash as well as the Town of Nashville. Two winners will be announced this summer.
Chase Tower Sells in South Bend
South Bend's tallest building has been sold at auction. Our partners at Fox 28 report Washington Square Realty placed the winning $4.5 million bid on the 25-story Chase Tower. South Bend Executive Director of Community Investment Scott Ford says the city is pleased with the sales of the " vital property."
National List Includes Indiana Bars
Two locations in Indiana are on a business website's list of the country's best college bars. Business Insider's list includes Kilroy's, which is located near Indiana University's campus and The Neon Cactus, which is close to Purdue University.
Vera Bradley Announces Earnings, Recall
Fort Wayne-based Vera Bradley Inc. (Nasdaq: VRA) is reporting fourth quarter net income of $19.4 million, compared to $25.1 million for the same period the previous year. The company says the lower profit is related to a write-down involving fabric patterns "no longer considered sustainable." The company has also announced a recall of some stuffed toys.
Farmland Sells For Millions
Wabash-based Halderman Farm Management Service Inc. says two farmland properties in Indiana sold last week for a total of more than $6 million. A 460-acre property in Rush County sold for more than $4.6 million and 156 acres near Kokomo went for nearly $1.6 million.
IU Among 'Most Valuable' Basketball Programs
Indiana University men's basketball is on a list of the country's most valuable programs. Forbes ranks the schools based on money generated for athletic departments, academic programming and conferences. The publications rates IU fifth at more than $25 million, including almost $17 million in profit.
Old National Makes Leadership Changes
Evansville-based Old National Bancorp has promoted Jim Sandgren to chief banking officer. Barbara Murphy currently serves in the role and plans to retire from Old National in June. The company has also named Julie Williams Daugherty chief administrative officer.
Bank Merger to Cause Job Reductions
Evansville-based Old National Bancorp's acquisition of Tower Financial Corp. is expected to result in the loss of Fort Wayne-area jobs. In a notice to the Indiana Department of Workforce Development, Old National says more than 40 positions are expected to be eliminated. Old National announced a more than $100 million deal to acquire Tower Financial in September.
Biomet Plans New Jobs
Warsaw-based Biomet Inc. has announced plans to expand its Kosciusko County operations and add 150 jobs. The company is seeking tax abatement on the proposal that includes building renovations and new equipment. Biomet also announced last week it was seeking federal approval for an initial public offering.
CITBA Calls Off Merger
Mooresville-based CITBA Financial Corp., which is the holding company for Citizens Bank, has terminated a proposed merger. The deal would have involved the combination of CITBA and Merchants Bancorp in Carmel. CITBA President Lynn Gordon says the transaction was scrapped because of delays with regulatory approvals.
Cabela's to Open Second Indiana Location
The City of Noblesville has finalized a deal to bring a major outdoor retailer to central Indiana. Cabela's Inc. says the new store, which will be its second in the state, could employ around 170 full and part-time workers. A proposal to bring a location to Greenwood fell apart about five years ago.
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