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Economy
Local bankers surprised by Bear bailout: Observers hope firm's sudden sale signals peak of financial turmoil
March 24, 2008
Cory SchoutenThe local president of Milwaukee-based M&I Bank, Reagan Rick, got the shocking news while waiting for a plane at Boston Logan
International Airport. It came in a text message from Robert Warrington, the former CEO of First Indiana Bank, the Indianapolis
bank M&I acquired last year for $529 million. Warrington told him 85-year-old New York-based investment bank Bear Stearns
Cos. had been sold to JP Morgan Chase Co.-with backing from the Federal Reserve-for a mere $2 per share. "The degree...
MoreForeclosures keep 'em busy: Bankruptcy attorneys, credit counselors seeing surge in clients
March 24, 2008
Scott OlsonMany consumer bankruptcies typically can be traced to a divorce, job loss or medical issue. Now another perpetrator-subprime
mortgages-is entering the fray. The fallout from the housing crisis, coupled with a weakening economy, is contributing to
a rise in bankruptcy filings nationwide. They spiked more than 30 percent in January compared with the same time last year,
according to the Virginia-based American Bankruptcy Institute. With more than 1 million subprime mortgages due to reset this
year, ABI Executive Director Samuel...
MoreVOICES FROM THE INDUSTRY: New tax break makes Indiana more attractive than ever
March 17, 2008
Cedric D\'hueRapid growth in the high-tech fields of biotechnology and life science has made Indiana a shining example of how promoting
emerging industries can transform an agricultural and manufacturingbased economy into a national leader in innovation. It
has done so by creating an environment in which knowledge-based businesses can thrive. Building on this success, Indiana continues
to position itself as a leader in emerging technologies. A new tax law that took effect this year will present another major
step toward this...
MoreTech innovator tries entrepreneurship again: iGoDigital software already used by major retailers
March 17, 2008
Peter SchnitzlerEric Tobias, the IT architect behind Carmel-based online battery supplier Technuity Inc., now is energizing another startup,
Indianapolis-based iGoDigital, a fast-growing player in "recommendation" software for retailers. Tobias, 31, was chief technology
officer of Technuity, which distributes batteries, carrying cases and electronics accessories. He left the company, once known
as Batteries.com, after it was acquired in November by Hauppauge, N.Y.-based Audiovox Corp. for $16.5 million, plus the repayment
of $4 million in debt. The deal added $30 million to Audiovox's...
MoreSTATEHOUSE DISPATCH: Lawmakers left lots of touchy issues for waning days
March 17, 2008
Ed FeigenbaumAs we prepared this column at midweek, there still was no certainty about a property tax relief and reform package resulting
from the regular session, set to adjourn sine die March 14. While some lawmakers were proclaiming no hope of enacting a package
before time expired in the regular session, others were seeing movement toward a plan that was structured largely along the
lines of the original package offered by Gov. Mitch Daniels. Democrats altered strategy as the scheduled adjournment...
MoreRETURN ON TECHNOLOGY: Just when you thought airport lines couldn't get any longer
March 17, 2008
Tim AltomThis isn't a column about business technology per se, but I couldn't resist the temptation to write about a half-dozen states
thumbing their noses at the federal government and potentially backing up travel this spring at airports all over the country,
including some of the world's busiest, all over a piece of plastic. After the tragedy of 9/11, one of the 9/11 Commission's
recommendations was to create a hard-to-fake identity card for Americans. In 2005, Congress passed a huge defense...
MoreINVESTING: Process of deleveraging creating lots of carnage
March 10, 2008
Ken SkarbeckThe deleveraging of America continues with unpleasant consequences for consumers and investors who are overextended. One problem
with a mass deleveraging is that the repeated selling of an asset to repay a debt burden leads to further declines in the
price of that asset. That, in turn, forces others to sell, as the lower asset values no longer support their debt obligations.
It's otherwise known as a vicious circle. The Federal Reserve, the U.S. Treasury and Congress are scrambling to...
MoreFinish Line escapes one crisis, but challenges abound: Indianapolis-based athletic-wear retailer now shifts its attention
to reinvigorating sales after prolonged slump
March 10, 2008
Cory SchoutenExecutives at locally based The Finish Line Inc. felt a weight lifted after escaping a potentially ruinous attempt to acquire
Genesco Inc., a company more than twice its size. But there's no time for rest: They now must focus on a core business that
was floundering even before Finish Line bid $1.5 billion in June 2007 for the Tennessee-based parent company of mall chains
Hat World, Lids and Journeys. Finish Line this month reported its eighth consecutive quarter with declining...
MoreNOTIONS: Variations on the theme of March Madness
March 10, 2008
Bruce HetrickMarch Madness is upon us-that glorious season born in a Springfield, Mass., peach basket and now headquartered, literally
and spiritually, in the Hoosier state. That means, of course, high-pressure conference tournaments; Big Dance brackets and
pairings; controversial selections and exclusions; friendly wagers; blowouts; upsets; scoring runs; dry spells; lead changes;
come-frombehind victories; heartbreaking defeats; and last-second, game-winning three-pointers. But in only the first week
of the third month of the Gregorian calendar, it's clear-from personal life, to the recession (er...
MoreEYE ON THE PIE: Waiting for evidence of recession
March 10, 2008
Morton MarcusSave the date: March 27. That's when the U.S. Bureau of Economic Analysis will release the latest data on Indiana's economy.
At that time, we'll get the first estimate of personal income for the last three months of 2007, plus revisions of previous
quarters. If there is a recession, that's where we will see the first clear indications. If? Yes, it is still not clear if
there is a recession because the data, our photos of economic performance, are not...
MoreBorshoff is latest communications company to diversify: Firm known for public relations seeks creative growth
March 10, 2008
Anthony SchoettleAn Indianapolis-based firm long known for public relations and crisis communications work is now trying to make its mark as
a full-service advertising agency. Borshoff, formerly Borshoff Johnson Matthews, last month hired Art Haynie, a veteran Los
Angeles-based creative director, to bolster the effort. "Public relations has been our handle for a long time," said company
founder Myra Borshoff Cook. "Now, we have to get the word out that we're just as strong in other areas. To grow we feel...
MoreSURF THIS: At this networking site, 'Smaller' is the new better
March 3, 2008
Jim CotaSeveral years ago, I had a conversation with a friend about "The Tipping Point," a now-famous book by economist Malcolm Gladwell.
During this conversation, my friend casually mentioned that he thought it would be beneficial (though I think he may have
actually said, "Wouldn't it be cool...") to get together with other people in the community to discuss the ideas put forth
in this book and a variety of other "businessrelated" titles. I admit, I agreed that it would, indeed,...
MoreMany of state's new jobs are at call centers
March 3, 2008
Cory SchoutenThe state's economic development leaders have been touting 2007 as a banner year that brought commitments for more than 22,000
new jobs, including positions in manufacturing, logistics and life sciences. But almost 20 percent of the announced jobs would
be in call centers--jobs that typically pay near or below the state's $35,000 average annual wage.
MoreRight time for REITs?: Some predict beaten-down sector is ready for another winning streak
February 25, 2008
Cory SchoutenFor seven years, real estate investment trusts delivered returns that clobbered the overall stock market. Then, last year,
the winning streak came to an end. Between January 2007 and January 2008, REITs as a whole lost 24 percent of their value.
An index of the companies took a bigger hit than most every other sector. Among local REITs, Duke Realty Corp. was the hardest
hit, with its stock price falling 44 percent, from about $41 to $23, during the one-year...
MoreECONOMIC ANALYSIS: Study exposes unfortunate work-force realities
February 25, 2008
Mike HicksFor more than a half-century, we have built complex statistical models to attempt to explain why regions enjoy different levels
of prosperity. Virtually every conceivable variable-from ethno-linguistic similarity indexes to existing natural resources
to government structures-have been tried, with the models proving enormously successful. One critical insight in this extensive
body of research is that human capital-the quality of a labor force-yields the strongest explanation for differences in prosperity.
When we apply these models to the United States, the importance...
MoreEYE ON THE PIE: Primaries and prudence demand attention
February 25, 2008
Morton MarcusToday-not tomorrow or next week, but now-is the moment to get involved in improving your life and the lives of your family
and neighbors. Don't delay. All you need do is both of two simple things. First, find out who is running in the primary election
on May 6 for the Indiana House of Representatives and Senate from your district. Yes, the national news media have told us
that our Indiana primary may be meaningless. They are referring to the...
MoreCommentary: A story we all should heed
February 11, 2008
Mickey MaurerLast month, Brightpoint Inc. Chairman and CEO Bob Laikin was honored with Indiana University's Distinguished Entrepreneurs-In-Residence
Award. If the selection committee was looking for an executive with pluck, it chose well. The IU Kelley School of Business
hosts the Distinguished Entrepreneurs-In-Residence program to inspire students and help them learn about the challenges of
starting or expanding an emerging business. Laikin's tumultuous and exciting journey left the students as dizzy as a day-long
ride on the Kings Island Beast. Laikin founded...
MoreUphill battle ahead: State poses tough test for new enviro leader
February 11, 2008
Chris O\'malleyBy the time Jesse Kharbanda earned a Rhodes scholarship to study at Oxford, the University of Chicago student already knew
he wanted to advocate environmental policies in the developing world, someday. Eight years later, some might say Kharbanda
has landed in the developing world, all right-Indiana, insofar as it's considered the backwater of environmental stewardship.
One might recall the state's 49thplace ranking in a 2007 review of "greenest" states by Forbes magazine. Only West Virginia-a
national leader in illiteracy-scored worse....
MoreCommentary: Indiana needs social entrepreneurship
February 11, 2008
Brian WilliamsIn the Middle Ages, the French coined a new word that today we would identify as "undertake." Around 1828, this old French
word, "entreprendre" was absorbed into the English language and after some use and m o d i fi c a t i o n s became a word
we recognize and vener ate in our society today ... entrepreneur. As a nation founded and populated by men and women who risked
life and fortune to reach our shores,...
MoreVOICES FROM THE INDUSTRY: The right time for climate change may finally be here
February 11, 2008
Don AltemeyerWhile the world's political climate is heating up, its economic climate is cooling down. Meanwhile, the real climate is finally
getting the attention it really deserves, as the "tipping point" has been reached. Green is everywhere these days. New York
Times For homes that no longer grow in value. If the personal consumption rates in China rose to the levels of the United
States, annual oil consumption in the world would go up more than 100 percent! Oil consumption in...
MoreRetiring baby boomers create openings for new grads
February 4, 2008
Tracy DonhardtStudents donning caps and gowns this May will find jobs aplenty, college career officers and others say. Some industries--like
health care, accounting, engineering, computer science and sales--are more flush with jobs than others. But students receiving
liberal arts degrees also are in high demand because of their well-rounded education.
MoreTechnology park could boost area's biomedical efforts: First phase of Purdue project, featuring accelerator building for up
to 25 startups, should be finished this year
February 4, 2008
Scott OlsonThe park is expected to be a major amenity for the area's growing biomedical economic development efforts. Purdue Research
Foundation paid $2.5 million in June to purchase a half-interest in 78 acres at AmeriPlex industrial park. The university
ultimately anticipates filling it with as many as 75 businesses and 1,500 jobs. AmeriPlex owner Holladay Properties, a South
Bend developer of industrial parks, owns the other half of the site. Dubbed Purdue Accelerator Park at AmeriPlex-Indianapolis,
the project is intended to...
MoreECONOMIC ANALYSIS: From economic perspective, immigration bill misguided
February 4, 2008
Mike HicksFew issues garner as much vitriol as the debate over illegal immigration. The dimensions of the debate are wide-ranging, but
as with most aspects of public policy, they are heavily influenced by economic issues. Indiana has embarked on an immigration
debate, so a bit of economics might be helpful. First, according to the most reliable recent data, Indiana is underrepresented
by illegal immigrants compared with neighboring states. I have seen estimates of immigrants in Indiana of between 45,000 to
more...
MoreEYE ON THE PIE: New jobs: Will dreams come true?
January 28, 2008
Morton MarcusA skeptic would say, "Small potatoes when compared to the nearly 3 million jobs Indiana currently has." Let's put 22,600 jobs
in perspective. That number exceeds the number of jobs added in Indiana in 2007 when job growth (December-to-December) was
5,800. It also exceeds job growth in 2006, which was 13,400. The reader proficient in arithmetic will immediately recognize
that 22,600 jobs are more than those gained by Indiana in 2006 and 2007 combined. IEDC added that, since January 2005...
MoreVIEWPOINT: Legislation could make Indiana unwelcoming
January 28, 2008
Diane ThomasAnxieties about immigration legislation introduced this session are growing. If the bill passes, businesses that "knowingly"
hire undocumented workers will face harsh penalties: threeyear probation for companies found to have hired undocumented immigrants;
for a second offense, loss of the firm's license to do business in Indiana. And it would be a misdemeanor to transport, conceal
or harbor an unauthorized immigrant; a second offense would be a felony. The law would require the Indiana attorney general
to investigate complaints against...
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
Pimlico
While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!
You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.