MatthewKish

Recent Articles

Hitching its wagon to central Indiana: Wells Fargo quietly lassoes big share of local loans

July 24, 2006
How big is the portfolio? Very big. How does it stack up to its rivals? Nobody knows for sure. The Federal Deposit Insurance Corp. requires banks to report the deposits they hold at branches, but it doesn't require banks to spell out how much commercial business they're generating geographically. "It's one of the biggest frustrations of the bank information that we [compile]," said Karen Dorway, president of Bauer Financial Inc., a Coral Gables, Fla.-based bank rating service that tracks market...
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St. Elmo top-selling restaurant; others sizzle, too

July 17, 2006
St. Elmo Steak House was the top-selling restaurant in 2005, ringing up $11.3 million in sales, but the Cheesecake Factory, Oceanaire, Maggiano's Little Italy, Sullivan's Steakhouse and P.F. Chang's, among others, all topped $5 million.
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Bank boss eyes No. 1: New Fifth Third chief plans expansion, faces tough Chase

July 10, 2006
The view from John Pelizzari's 14th-floor office in downtown's Capital Center is a good one. The recently hired president and CEO of Cincinnati-based Fifth Third Bancorp's central Indiana operations can see the rooftops of many of downtown's landmarks. And he likes it that way. He's used to the view from the top. From 2001 to 2005, Pelizzari, 50, captained the ship for Fifth Third's northern Michigan affiliate, which enjoyed a whopping 28-percent market share, more than 10 percentage points higher...
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Developer goes west with retail: Lauth's Brownsburg Station to cover nearly 70 acres

July 3, 2006
Lauth Property Group soon will break ground on Brownsburg Station, a massive retail complex that will be one of the largest in the Indianapolis area. The Brownsburg property, which will be roughly 500,000 square feet and sit on almost 70 acres, will take advantage of the west side's rapidly growing suburbs. The project received preliminary approval from the town of Brownsburg in late June and needs only to clear a few minor hurdles before building can begin. Tenants could move...
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Whole Foods shopping for alternative store site: Will grocery go to Nora instead of Keystone Crossing?

June 26, 2006
Whole Foods might not be coming to Keystone at the Crossing after all. Residents of the Driftwood Hills neighborhood sued the city in February after it approved a zoning change allowing developer Paul Kite to build a Whole Foods grocery, plus as many as 30 condominiums, on the northwest corner of 86th Street and Keystone Avenue. As residents push on with their effort to block that zoning decision, Whole Foods is exploring other sites, including one in nearby Nora, for...
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Scrapping it: Flurry of area shops close the books on once-hot business

June 26, 2006
Forget-Me-Not in Greenwood will soon be forgotten. The store, which sold scrapbook albums and supplies, closed last month. It was the latest of at least seven scrapbook stores to close in the past few months in central Indiana. Business analysts are calling the rash of out-of-business signs a cautionary tale for proprietors who invest in "silo businesses" that base their bottom line on a trend or product that may soon be out of style. "A lot of the mom-and-pop [scrapbook]...
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Driving through adversity: First-time team owner uses business fundamentals to help reach the finish line

June 26, 2006
It's been a bumpy ride for Michael Crawford this year. Scratch that-it's been like driving into a concrete wall at 190 miles per hour. Repeatedly. The rookie race team owner put his financial livelihood on the line this year to buy two cars and run them in the Indy Pro Series, the open-wheel racing equivalent of AAA baseball, one step below the major leagues. IBJ is following Crawford's progress in hopes of shedding light on the challenges startups face when...
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$20M overhaul for City Market?: Culinary school may replace east wing

June 19, 2006
City Market officials are trying to pull together an ambitious plan to transform the century-old downtown lunch spot into a virtual paradise for foodies, complete with an Ivy Tech culinary school campus. But they still have a couple of big hurdles to clear before giving the green light to the nearly $20 million project. Plans include razing the east wing and replacing it with a five-story, $18 million building that could house Ivy Tech State College's culinary programs. A separate...
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Ex-Chamber chief buys Daleville testing firm: Deal gives LaMothe one-third ownership, CEO post

June 19, 2006
Now, he's an owner himself. This month, he teamed with two prominent executives to buy Dalevillebased Sherry Laboratories, a 180-employee company that does product testing for firms in such fields as aerospace and automotive. "I've been interested in Sherry for about 10 years," LaMothe said. "I had approached them two or three different times ... . I was intrigued with the company because I believed it was needed and necessary and adds value to society." LaMothe will serve as chairman...
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In midst of sale, Marsh rolling out new slogan: Grocer says it's the place to 'Treat your family well'

June 12, 2006
Executives at Fishers-based Marsh Supermarkets Inc. aren't sitting on their hands, despite signing an offer a little more than a month ago to sell the grocery chain to a private equity group in Florida. For the past two years, they've been scratching away on flip charts coming up with a new brand. And they figure they might as well put it to use. They launched the new identity last month with the help of Dallas-based Ivie & Associates Inc., an...
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Kroger shops for land: Grocer gathering property for full-size downtown store

June 12, 2006
Downtown residents might finally get their second full-service grocery store. Cincinnati-based Kroger Co. has purchased an acre of land immediately west of its store near the intersection of 16th Street and Central Avenue in hopes of razing the existing store and replacing it with a new, and much larger, grocery. "We would like to build a brand new store that incorporates all of the amenities that [we] have at our newer stores," said Jeff Golc, a Kroger spokesman. Neighbors are...
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Marsh merger muddied: Federal filings show grocer wants to ponder richer offer, but legalities might prevent it

June 5, 2006
A new federal filing suggests Marsh Supermarkets Inc.'s board wants to negotiate with a second potential buyer, even though it's already agreed to be sold to a Florida private equity firm. The original buyer, Boca Raton, Fla.-based Sun Capital Partners, says merger talks with the new suitor, a partnership between Dallasbased Cardinal Paragon Inc. and New Yorkbased Drawbridge Special Opportunities Advisors LLC, would violate the agreement already in place unless Sun Capital grants Marsh permission to enter the discussions. And...
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Museum's battle plan: Conner Prairie seeks boost from Civil War re-enactment

June 5, 2006
There were no Civil War battles fought in central Indiana. That won't stop 400 soldiers in inhumanely hot wool uniforms from re-enacting a massive battle June 10-11 at Conner Prairie. Confederate and Union flags will wave. Brass instruments will sound. Cannon blasts will shake the trees. Sixty armed men on horses will lead the charge. The fighting will last less than an hour each day. The Hamilton County living-history museum hopes the economic effects last much longer. With the 150th...
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Executive Pay Special Report: WORTH IT?: Top brass still collects big packages, but ties to company performance grow

May 29, 2006
Michael Doar once had to give back part of his salary. How times change. Now CEO of Indianapolis-based Hurco Cos. Inc., Doar offers more bang-for-the-buck than any chief executive in the state, according to an in-depth study of salaries and shareholder returns by IBJ. One would shudder at the t h o u g h t o f Hurco's board asking Doar to forfeit a penny of his modest salary, as he did one year in the '90s when the...
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Vacancies and sales spike at Circle Centre: Analysts say mall attracting higher-end shoppers

May 29, 2006
Vacancies at Circle Centre mall hit a five-year high in 2005. But so did salesper-square foot. How does one reconcile the discrepancy? Observers say the mall is luring more high-end consumers with trendier shops despite having a big chunk of open space. "They've been incorporating and attracting more productive and upscale retail concepts," said Terry Sweeney, vice president of real estate development for Indianapolis Downtown Inc. The 10-year-old mall posted $393 in sales per square foot in 2005, up from...
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Banks enroll to help educators: As Indiana falls behind, financial literacy programs blossom

May 15, 2006
Their answer: a need. As in, one cannot exist without food, shelter and a $175 pair of sneakers. While the marketing folks at Nike would smile at the association, it makes personal finance experts like Avery cringe. They say it's another example of an alarming level of financial ignorance that has allowed nationwide consumer debt to zoom past $2 trillion. And the pain is especially acute in Indiana. "You don't have to look far beyond the bankruptcy and foreclosure statistics...
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Battle of the brands: Planners go back to drawing board after city slogan nixed

May 15, 2006
They thought they had a winner with The New Midwest. They even had the logo-a stylized "I"-all figured out. And a color palette. But then they hit a bump in the road. When Mark Miles became CEO of the Central Indiana Corporate Partnership in January, he joined the big group and said the slogan was a dud. At the least, he said, participants should run it by focus groups. They only had to run it by two before they realized...
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Land drove Marsh sale: Sun Capital has backup in real estate if grocery biz fails

May 1, 2006
When Marsh Supermarkets Inc. put itself on the block in November, the company's stock dove. When it cut future executive compensation $28 million a month later, the stock continued falling. When it terminated 25 executives and closed two groceries and six convenience stores, shares slipped yet again. Nothing, it seemed, could stop the downward spiral. Then a footnote appeared in the Fishersbased company's fiscal third-quarter financial report Feb. 21. It said an appraisal showed the company's real estate was worth...
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Scholar's Inn ready to rise: Starbucks-like strategy: 'Bread for the masses'

April 24, 2006
Scholar's Inn bakers load delivery trucks with more than 5,000 loaves of bread each week. And each time head bread baker Jeff Duez rolls a rack of apricot almond bread out to the loading dock, he ducks his head. A 5-foot-high doorway separates the bakery's Bloomington kitchen from the ramp where delivery trucks pull up twice daily. That's one of the many inefficiencies co-owner Lyle Feigenbaum addressed when he purchased a 10,000-squarefoot production facility the company will fire up this...
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Racing for the green: Rookie owner risks house and home to realize dream

April 24, 2006
"If somebody wipes one of them out, the associated residence goes with it," he says, only half jokingly. Now in his 14th season in t h e m o t o r - sports industry, Crawford, 38, decided to hoist his own flag for the first time this year in the Indy Pro Series, open-wheel racing's highest minor league. For the record, he's not a wealthy man. The second property is the only investment he and his wife, Myra, haven't...
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Circle Centre's 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

April 17, 2006
The Lawton, Okla.-based Percussive Arts Society might announce as early as next month that it's moving its 12 headquarters employees into 15,000 square feet on the troubled fourth floor of Circle Centre mall, according to a source familiar with the discussion. Roughly 10,000 of those square feet would be a museum that might get bongo enthusiasts and the curious alike to stop by and check out some Thai button gongs and West African talking drums. If all goes as planned,...
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Atlas draws Fresh interest: Upscale grocery chain with a store in Carmel considers local expansion

April 10, 2006
North Carolina-based The Fresh Market Inc. has confirmed it's interested in the former Atlas Supermarket site at 54th Street and College Avenue. "We are looking at expanding in that area and we're looking at a lot of sites," said spokesman Eric Blaesing. "[The Atlas site] is one of them." He added that nothing is definite and "for every 100 sites you look at, you end up with one of them." N e i g h b o r s hope...
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