IBJOpinion

EDITORIAL: Solid reasons to give thanks

IBJ Staff
November 30, 2013
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IBJ Editorial

It’s a good thing a holiday like Thanksgiving rolls around once a year to remind us to slow down, take stock of our blessings, and show appreciation for them.

Those of us living in the Indianapolis area certainly have a lot to be thankful for, including these reasons:

• An improving economy, a drop in unemployment, and a rising stock market. Let’s put it this way: We journalists tend to get more calls returned when we’re writing about companies growing instead of imploding.

• The wave of entrepreneurship we expect in coming years thanks to the $2.5 billion buyout of homegrown ExactTarget. We’re standing by to cover the next round of local tech startups this deal helps ignite.

• The pending redevelopment of Market Square Arena—for real this time—along with a handful of other attractive projects that are bringing more full-time residents downtown. We’re particularly excited to see local owners get their hands on the long-neglected Consolidated and Illinois buildings.

• Top bond ratings for the state and city of Indianapolis. The AAA ratings are hard to come by—and the resulting low interest rates help minimize taxpayer expenses. Hoosiers generally are governed by a political class that respects how difficult it is for most people to earn a dollar.

• The bipartisan movement to defeat a proposed Indiana constitutional amendment banning gay marriage. It’s not only the right thing to do, but it’s also best for business. Kudos to the Indy Chamber, Eli Lilly and Co., Cummins Inc. and numerous other companies and organizations for taking a stand.

• The Pacers. These guys are fun to watch, love the game and are bringing the crowds back to Bankers Life Fieldhouse. It’s easy to forget the venue sold out every game its first year. The Pacers’ emergence just as the Colts hit a rough patch proves once again how spoiled we are as Indianapolis sports fans.

• The new Eskenazi Health Hospital, a beautiful and state-of-the-art facility that demonstrates our city’s commitment to care for everyone. With a new airport terminal, football stadium, hospital and expanded convention center under our belts, contractors must be wondering what’s next.

• Another major hotel? Landing another Super Bowl? A framework for successful mass-transit legislation? For now, we’re thankful each is within the realm of possibility.

On the home front, we’re thankful for:

• IBJ’s always-friendly and razor-sharp office manager, Jane Meredith, who retired in late November after 11 years of keeping the trains running on time at IBJ Media. We miss her already.

• Local owners who value and invest in good journalism.

• Our loyal readers. Thanks for supporting IBJ and sharing your news with us first. Happy Thanksgiving!•

Send comments on this editorial to ibjedit@ibj.com.


 

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  1. PJ - Mall operators like Simon, and most developers/ land owners, establish individual legal entities for each property to avoid having a problem location sink the ship, or simply structure the note to exclude anything but the property acting as collateral. Usually both. The big banks that lend are big boys that know the risks and aren't mad at Simon for forking over the deed and walking away.

  2. Do any of the East side residence think that Macy, JC Penny's and the other national tenants would have letft the mall if they were making money?? I have read several post about how Simon neglected the property but it sounds like the Eastsiders stopped shopping at the mall even when it was full with all of the national retailers that you want to come back to the mall. I used to work at the Dick's at Washington Square and I know for a fact it's the worst performing Dick's in the Indianapolis market. You better start shopping there before it closes also.

  3. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  4. If you only knew....

  5. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

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