Economy Blog Posts

Habitat builds through tough times

August 27, 2008
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The down economy hasnâ??t exactly been a gift to not-for-profits, but at least one is actually doing better. Habitat for Humanity of Greater Indianapolis plans to build 22 houses this year, a couple of units more than last year. With dollar donations...
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Back to school in hard times

August 12, 2008
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Colleges and universities tend to see enrollment boom when the economy goes south, and this down cycle appears to be little different. Indiana University, Ivy Tech Community College and the University of Indianapolis all have announced in recent weeks that enrollments...
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Do you demand a 401(k)?

August 11, 2008
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Corporations are boosting 401(k) plans even as they abandon traditional pension plans. Workers are getting automatic enrollment, more investment options and greater contributions from employers. Employees want 401(k)s, and theyâ??re good for business, companies say. In fact, companies without 401(k)s...
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Indiana's entrepreneurial hotspots

August 5, 2008
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If youâ??re an entrepreneur, or dream of one day becoming one, which place in the state offers the best opportunity? Are you a fan of fast-growing exurbs like Fishers? If youâ??re into medical startups, is the best spot on the downtown...
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Friedman's influence on Indy

July 30, 2008
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As fans of the late Milton Friedman gather at the Conrad Hotel tomorrow night to celebrate the libertarian economist, theyâ??ll have plenty to crow about. Ironically, though, Friedmanâ??s ideas about turning education over to market forces have failed to gain much...
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Hummer buyers are back

July 29, 2008
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Gas prices have been up for quite a while now, so are buyers of the H2 Hummer, the king of sport-utility vehicles, pulling back? Not as much as one might think, says Corey Lockhart, Hummer general manager at Lockhart Hummer in...
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The 'vicious cycle' at newspapers

July 21, 2008
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A new study shows newspapers continue to lose advertising dollars and circulation to the Internet, and theyâ??re slicing ever deeper into newsroom budgets to try to stay in the black. Stories are shorter and devote less attention to international...
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Living with feisty inflation

July 16, 2008
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You might have seen the startling news this morning about inflation. The cost of living exploded by 1.1 percent in June, which is a sobering annual rate above 13 percent. One of the Indianapolis areaâ??s leading financial planners says...
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Kempton is red-hot

July 10, 2008
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Ever heard of Kempton? Itâ??s a burg between Indianapolis and Kokomo that just happens to be the second-fastest growing town in the state. Kemptonâ??s population last year was 716, an increase of 27 percent in just one year, according to an...
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Incentives as a way of life

July 9, 2008
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Competition for jobs and investment has become so fierce that companies with a good growth plan are firmly in the driverâ??s seat. A local example is Bowen Engineering Corp., which is asking for $290,000 in incentives from Indianapolis to move its...
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Michigan's pain, Indiana's gain

July 2, 2008
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Detroit keeps turning out bad news, what with General Motors, Ford and Chrysler losing market share and Volkswagenâ??s announcement last fall that it would abandon the city and move its U.S. headquarters to Virginia. Now Volkswagen is days away from unveiling...
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Executive pay is 'flat'

July 2, 2008
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Indianapolis-area executives are struggling to keep their compensation at last yearâ??s levels â?? which were no improvement over 2006. Thatâ??s the observation of compensation specialist Debi Muelller, a partner in the human relations firm HR Dimensions. â??At best, itâ??s flat,â?? says Mueller...
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Progress with entrepreneurship

June 26, 2008
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Compendium Blogwareâ??s announcement today that it raised $1.6 million in private funding is another brick in the wall as the Indianapolis area and the state continue their push to build a culture of entrepreneurship. Investors are showing more interest...
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The next 100 years

June 25, 2008
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Thereâ??s nothing like travel to change oneâ??s perspective on the world. Graham Toft, perhaps the stateâ??s most experienced economic development expert, has traveled a lot in the past couple of years, consulting to state governments worried about rebounding from their doldrums. The...
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Depending on a three-legged stool

June 9, 2008
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Economic development experts have long contended that business investment and good jobs gravitate to places where business, government and higher education are on the ball and get along together. If one of the three legs doesnâ??t carry its weight, the other...
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Making companies say, 'I do'

June 4, 2008
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Lots of Indiana towns will do almost anything to get a factory or warehouse. That often means skipping pointed questions about corporate citizenship for fear of losing the project. A Lebanon city council member isn't looking the other way, though. Dick Robertson...
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Etiquette for high gas prices

June 2, 2008
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It seems like more people are driving below the speed limit now that gas has become expensive. Particularly on interstates, it isnâ??t uncommon to come upon congestion only to realize that somebody, for no apparent reason, is puttering along and holding...
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Analyzing Speedwayâ??s success

May 27, 2008
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If you were at the track over the weekend or in the past few weeks, you made your way through Speedway, an island of stability in a county where some other older communities, like Beech Grove, are slipping into decay. Speedway...
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Bowl reaction from elsewhere

May 21, 2008
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Many a back was slapped in Indianapolis and among the Indy troops in Atlanta yesterday when the NFL team owners opted for Indianapolis over Phoenix and Houston to host the 2012 Super Bowl. Elsewhere, though, the reaction was mixed. The Arizona Republic...
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Indianapolis, cold in winter?

May 20, 2008
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Does Indianapolis experience winter? NFL owners meeting in Atlanta today could be forgiven for wondering, if all they knew about Indianapolis was the information in the Super Bowl bid package. The 30-plus pages in the executive summary have plenty...
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The next housing challenge

May 19, 2008
Comments(8)
As the housing debacle continues to unwind, another big â?? really big â?? issue in housing is going largely unnoticed. Houses built in the 1950s are at risk of falling into the same decay experienced by many older neighborhoods, some of...
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Subsidizing thy neighbor

May 14, 2008
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Should a city give incentives to companies that want to leave the city and expand in another town? That question is dogging Muncie officials after they offered a $600,000 loan to a Spanish company that plans to move an auto-parts plant...
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Gas edges past $4 in N. Indiana

May 14, 2008
Comments(2)
Gas is over $4 in northwest Indiana, according to http://www.indianagasprices.com/. In some places, itâ??s up to $4.09. How long until it hits $4 in the Indianapolis area, and how high will it go?
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Branson bailing out of ethanol?

May 8, 2008
Comments(4)
British entrepreneur Richard Branson has unloaded a company thatâ??s building two ethanol plants in the U.S., including one near Fort Wayne. In an interview with Fortune magazine during the peak of ethanol optimism in early 2006, Branson said industry...
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Economy jitters won't go away

May 7, 2008
Comments(2)
Exit polls yesterday showed Hoosiers voted their pocketbooks. Theyâ??re worried about the economy. That has a familiar ring. Many voters made a similar point four years ago when Gov. Mitch Daniels beat Gov. Joe Kernan by promising to improve the economy. Now,...
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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