Stonegate Mortgage IPO brings in $114M
Shares of Indianapolis-based Stonegate Mortgage Corp. are trading higher during the company's first day on the New York Stock Exchange. The initial public offering was priced at $16 per share, bringing in roughly $114 million, which is less than anticipated. CEO Jim Cutillo says there are clear indications of a housing recovery throughout the country, making this a good time to go public. He says the company is poised to grow in several areas.
Fort Wayne Airport looks to expand service
Fort Wayne International Airport has received a $600,000 federal grant to support efforts to attract a new flight. The airport authority says it has spent the last year focusing on expanding air service in Fort Wayne, including conducting a business traveler survey to identify desired routes.
Fabricator planning cuts
Ohio-based The Fabri-Form Co. says it will close a southeast Indiana facility. In a notice to the Indiana Department of Workforce Development, the plastics company says the move will affect more than three dozen workers in Washington County.
Deborah Simon pledges $100M to school
Hoosier philanthropist Deborah Simon is donating $100 million to her high school alma mater in Pennsylvania. Mercersburg Academy considers the gift the second-largest ever made to a U.S. private school. Simon is a 1974 graduate and serves on the academy's board of regents.
Two restaurants noted for 'cheap eats'
A national dining website's Best Cheap Eats in the U.S. list includes two restaurants in central Indiana. It features more than 80 eateries in Urbanspoon's top markets.
IU study explores global corporate giving
A study authored by the Indiana University Lilly Family School of Philanthropy provides insight into why U.S. corporations make charitable contributions outside the country. The research, commissioned by Virginia-based Global Impact, suggests decisions are primarily driven by local community needs and the company's financial performance in the country.
IPL touts proposed power plant
Indianapolis Power & Light Co. is detailing its reasons for a new $631 million power station. The utility has submitted testimony to the Indiana Utility Regulatory Commission in a case involving the proposed facility near Martinsville.
Indy Mall hosting job fair
Castleton Square in Indianapolis has announced a retailer job fair. The mall says next week's event will feature seasonal and permanent positions with several stores.
Emmis Reports Lower Profit
Indianapolis-based Emmis Communications Corp. is reporting fiscal second quarter net income of $2.6 million, compared to $38 million during the same period the previous year. The company says net revenues increased 3.5 percent for the quarter.
Advancement VP returning to Manchester
Manchester University is bringing back an administrator with strong connections to the school to serve as vice president for advancement. Timothy McElwee is leaving a similar post with a college in Pennsylvania.
School to add physician assistant program
The University of Evansville plans to launch a master's level physician assistant program. The school says the effort will help meet a growing need for health care providers.
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