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Economy
ECONOMIC ANALYSIS: Sky-high gas prices are revving up the political rhetoric
June 2, 2008
Mike HicksFrom all the noise surrounding gasoline prices, you'd think nobody actually benefited from the high prices. But, of course,
some folks do benefit. Let's figure out who they might be. Obviously, consumers don't benefit. The average car owner in the
United States pays about $80 more per month with gas at $4 per gallon than he did back when it was $2.25. Not good news, of
course, but hardly the end of the world. Folks who provide goods and services...
MoreINVESTING: Law of supply and demand wreaks havoc on oil prices
June 2, 2008
Ken SkarbeckOne of the first things a student in Economics 101 learns is the fundamental concept of supply and demand. Who can forget
those familiar graphs that show the two crossing curves and the critical point where they intersect-the price of the particular
good. Next, we learned the effect of shifts in supply and demand, which lead to either an increase or decrease in price. Visually,
those graphs allowed us to see how an increase in demand, without a commensurate increase...
MoreSelling a sabbatical: Few companies let workers take lengthy vacations, but some make exceptions
June 2, 2008
Scott OlsonIf you were to approach your boss about taking a prolonged leave of absence-say, for seven weeks-would he or she respond with
understanding, or amusement? One particular boss, Matt Haab, founder of the south-side financial planning firm Veros Partners,
was faced with that very decision. He chose to let wealth management adviser Charles Miller take his family on a lengthy trip
to Honduras earlier this year. Miller, 46, joined Veros in 2004 and had been to the Central American country...
MoreECONOMIC ANALYSIS: How an economist pays tribute on Memorial Day
May 26, 2008
Mike HicksMemorial Day held great significance for me when a youngster growing up in the 1960s. Like many families, mine had paid a
dear price over the preceding century, and memories of those contributions lingered over even those of us too young to really
understand. World War I veterans were still spry, and the World War II veterans were in the fullness of their years. To your
future columnist, they were all old men. Still, Memorial Day had meaning beyond the...
MoreCastalia planning green neighborhood: Carmel-based custom homebuilder lining up financing for Mooresville community with 144
eco-friendly homes
May 26, 2008
Scott OlsonIn terms of eco-friendliness, few homes in central Indiana boast much more than a high-efficiency furnace or low-flush toilet.
But a Carmel-based custom-home builder is so certain the region is ready to embrace the green movement that he is willing
to risk investing in a residential community designed to achieve national environmental recognition. Frank Redavide, president
of Castalia Homes LLC, is finalizing financing for the project and plans to start construction within 60 days. The 144-lot
development, called Villages of...
MoreMove over 'Super 70'-this one is really big: Department of Transportation hoping for summer launch of study to add truck lanes
to 800 miles of I-70
May 26, 2008
Chris O\'malleyImagine driving the car down an interstate highway devoid of tractor trailers. It could dramatically improve traffic flow
and safety, but it would sever supply chains and bring manufacturing to a halt-to say nothing of the state's logistics industry.
But how about putting those trucks in their own lanes, separated from cars and light trucks? What seemed merely a fanciful
concept for Interstate 70 when highway planners tossed it out about a year ago is gaining momentum. The Indiana Department...
MoreConstruction behemoth Skanska sees potential in Indy: U.S. division of Swedish-based company sets sights on health care, education,
pharmaceutical building sectors
May 26, 2008
Scott OlsonNew Jersey-based Skanska USA Building Inc., a division of the $23 billion Swedish construction powerhouse Skanska AB, arrived
in Indianapolis in April. Named last year as the top green contractor in the nation by Engineering News-Record magazine, Skanska
USA is recognized in particular for its projects in the health care, higher education and pharmaceutical sectors. Its largest
project, however, is the $998 million Meadowlands football stadium under construction in New Jersey. Locally, Terry Parrott,
50, is in charge of operations....
MoreRetail survivor: resale: Consignment, thrift shops doing well despite nation's economic slowdown
May 26, 2008
Jennifer WhitsonAs gas prices approach $4 a gallon and economic growth grinds to a standstill, many retail shops are feeling the pain. Consumers
who don't have as much disposable income are cutting back on clothing and accessories purchases. The University of Michigan's
consumer sentiment index dropped to its lowest level in 26 years last month, and several reports find that consumers will
likely be spending their so-called economic stimulus payments on bills, not shopping sprees. But one retail category already
is...
MoreVOICES FROM THE INDUSTRY: Industry needs new methods to make it in new economy
May 26, 2008
Don AltemeyerIt's happening: Premium gasoline is breaking the $4 barrier that diesel fuel passed several months ago. While there are other
serious issues in this "sour economy," fuel prices are the most obvious sign of the future we face. We can view the problem
in several different ways: This is just temporary. Our problems were caused by a bunch of crooks, greedy oil companies and
the war in Iraq. Things will get back to normal if we cut back a little...
MoreBuilders relying on medical projects: Amid general slowdown, health care sector busy
May 26, 2008
Tracy DonhardtThere's no shortage of research pointing to the growth in the health care industry. For example, health care expenditures
will account for nearly a quarter of the gross domestic product by 2020. Consumers are increasing the number of times they
visit the doctor, and the increase is even greater for baby boomers. The number of medical procedures being performed on an
outpatient basis rises yearly. And jobs in the industry will grow 20 percent by 2016. To meet those demands,...
MoreRing maker remakes industry with big buyout: Herff Jones' purchase of American Achievement to narrow roster of rivals to two;
deal may be worth $700M
May 26, 2008
Tracy DonhardtHerff Jones Inc.'s latest acquisition is a whopper that will remake the competitive dynamics of its niche industry-the sale
of high school rings, yearbooks and other products that help mark educational milestones. The Indianapolis-based company this
month agreed to buy American Achievement Group Holding Corp., a deal that would reduce the roster of Herff's major competitors
from three to two. Herff has $511 million in annual revenue, while American Achievement has $315 million. Terms were not disclosed,
but Dow Jones'...
MoreDwindling unemployment trust nears crisis point: Fund that once held $1.6 billion may face insolvency
May 19, 2008
Peter SchnitzlerIndiana's Unemployment Insurance Trust Fund is running out of money-fast. It opened this decade with $16.6 billion in assets.
By the end of last year, it had dwindled to $302 million. And last month, the Indiana Department of Workforce Development
said the balance was just $80 million. Though DWD in early May received $300 million in taxes collected from employers, the
infusion is only a shortterm fix. By year's end, the fund is expected to be short on cash again....
MoreSymphony Bank results keep hitting sour notes: CEO hopes to succeed by taking bank 'to the people'
May 19, 2008
Cory SchoutenSymphony Bank's palatial branch along East 96th Street-outfitted with a copper roof, towering domed ceiling and heated parking
lot-was designed to telegraph wealth and stability. But instead, the $5 million Taj Mahal became the most prominent symbol
of the bank's excesses and one reason the startup has lost money every year since its founding in June 2005. The bank, which
has no other branches, has torn through two management teams and piled up annual losses of $2 million or more...
MoreSteak n Shake hopes discounts whet appetites: Yet some fear promotions may hurt the brand
May 19, 2008
Chip CutterIn an effort to reverse declining sales at its restaurants, The Steak n Shake Co. plans to roll out a number of new promotions
and discounts this summer. During a conference call with analysts May 14, interim President Jeffrey Blade said the Indianapolis-based
chain plans to introduce deals such as 99-cent children's milkshakes and discounted burgers and sandwiches to lure customers
back into its stores. The company also is testing $1 kids' meals, a discounted milkshake "happy hour" from 2...
MoreEDITORIAL: Pricey fuel isn't all bad: Pain at pump creates opportunity
May 19, 2008
Pricey fuel isn't all bad Pain at pump creates opportunity The high cost of fuel hurts everyone, from commuters to business
owners to not-for-profits whose volunteer drivers deliver meals to shut-ins. Our whole economy suffers. But there's a silver
lining to gas for $4 a gallon: opportunity. If the price of fuel isn't coming down, and that seems to be the prevailing wisdom,
the only thing to do is adapt. It's in adapting that there's opportunity to be found and...
MoreLand banking: Banks grab top sites for branches, often years before they build
May 19, 2008
Cory SchoutenMany of central Indiana's banks are filling their own safe-deposit boxes, but they're not stuffing them with jewelry, legal
documents or blackmail material. They're banking parcels of land. The sites often are in fast-growing suburbs or redevelopment
areas that hold potential for new brickand-mortar bank branches, sometimes several years down the road. Competition can be
fierce for the prime sites, and other financial institutions aren't the only nemesis for banks: Walgreens and CVS also are
fighting over the best ground,...
MoreECONOMIC ANALYSIS: Why the arguments against free trade don't hold water
May 12, 2008
Mike HicksAmericans are in a tough spot when it comes to negotiating free trade agreements. With the exception of a small Scandinavian
country and a couple of European principalities, everyone we trade with has lower wages, weaker environmental standards, and
less personal liberty. So it is easy to argue that we shouldn't trade with a country until it becomes like us. This is the
siren song of economic catastrophe. Here's why. First, countries don't trade with each other; people do. The...
MoreBEHIND THE NEWS: Area's humdrum economy now looking pretty good
May 12, 2008
Greg AndrewsHoosier executives aren't exactly crowing about the Indianapolis-area economy these days. But they're painting a brighter
picture than you might think, especially compared with the carnage they see in what used to be the nation's hottest markets.
Here's what Simon Property Group CEO David Simon, not one to lavish idle praise, said during a February conference call with
analysts: "I think the Midwest has been flat for I don't know how many years, other than Indianapolis. Indianapolis seems
to be...
MoreCommentary: We manage traffic Rube Goldberg-style
May 12, 2008
Brian WilliamsRube Goldberg was an engineer by training who rose to prominence not for his engineering skills but for his political cartoons,
for which he won the Pulitzer Prize in 1948. Goldberg was also famous for his cartoons that depicted whimsical machines with
complex mechanisms to perform simple tasks. Goldberg's fantastic contraptions served as an inspiration for the annual Rube
Goldberg competitions held at colleges, universities and high schools across the country. In years past, students have been
required to develop...
MoreVOICES FROM THE INDUSTRY: Despite some perceptions, future for IT workers bright
May 12, 2008
Jim JayIn mid-March, Bill Gates traveled to Washington to carry an unpopular message to Congress: Raise the limits on visas for foreignborn
tech workers, or Microsoft and other high-tech companies will be forced to move more jobs overseas in search of a skilled
work force. Gates' testimony to the House Committee on Science & Technology wasn't groundbreaking-the shortage of tech workers
is well-documented. But it begs an obvious question: Why have computer science enrollments at U.S. colleges and universities
fallen by...
MoreECONOMIC ANALYSIS: A healthy economy makes an uninteresting campaign
May 5, 2008
Mike HicksIn this curious primary season, Indiana finds itself the brief center of attention as Sens. Hillary Clinton and Barack Obama
invest time and treasure in the crossroads of America. The strongest focus in both their campaigns is my favorite subject-the
economy. Both candidates bemoan the poor Hoosier economy, its job losses and income inequality. This would be a superb campaign
approach for both candidates, except that their claims are wholly, totally and embarrassingly devoid of facts. Indiana's economy
is doing...
MoreINVESTING: Don't follow the crowds; follow these wise men
May 5, 2008
Ken SkarbeckThere are many things I do not understand. I don't understand why a golf gallery must remain "pin-drop" silent while a person
hits a ball that sits stationary on a tee, yet fans can scream at the top of their lungs while a batter tries to hit a ball
coming toward him at 95 miles per hour. I also don't understand how economists take massive amounts of conflicting economic
data, input the statistics into a model, and, presto, out comes...
MoreCar makers turn up pressure for bigger, but fewer, stores
May 5, 2008
Chris O'MalleyDomestic automakers were already scheming about new ways to chop dealers--cutting costs to service them--as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
MoreCommentary: At BMV, obscurity is sign of success
May 5, 2008
Mickey MaurerThere are professions in which you are never noticed until you screw it up-the center of a football team when he snaps the
ball over the quarterback's head, the business assistant when he or she brings the wrong set of papers to the closing, and
the bus driver who-after 20 years of safe driving-rear-ends the rock star's limousine. Included in this list is the CEO of
the Indiana Bureau of Motor Vehicles. Do you remember Joel Silverman, former commissioner of...
MoreDavis Homes faces lawsuits; DayMarc out of business
May 5, 2008
Cory SchoutenA depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC--a
powerhouse for years that now is facing foreclosure on about 80 home sites.
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!