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Real Estate & Retail
Premier Properties auction attracts no bids
April 17, 2008
J.K. WallNo bids were submitted today at an auction for control of 10 properties owned by Indianapolis-based Premier Properties USA
Inc., the financially troubled development company run by Chris White.
MoreCommentary: Jim Browning, a champion of the city
April 14, 2008
Tom HartonIt was probably 15 years ago when Jim Browning called and invited me to lunch for the first time. I don't recall why he extended
the invitation, but I remember from the lunch that he was interested in what I had to say. And that surprised me. I didn't
know Jim then, but I knew of him through his architecture firm, Browning Day Mullins Dierdorf. I also associated him with
the group of bold civic leaders who came up with...
MoreBuilding opportunities: CREW Careers offers girls a glimpse into the diverse world of commercial real estate
April 14, 2008
Della PachecoWhile one college basketball team just completed its journey to a national championship, CREW Network's women hope they're
on a similar winning path-a path to scoring parity in the male-dominated field of commercial real estate. The Commercial Real
Estate Women Network is a national member organization dedicated to the advancement of women in commercial real estate. It
has 66 chapters, including one in Indianapolis. In 2005, CREW Network completed the industry's first comprehensive study of
the status of women in...
MoreOne Indiana Square owner sues insurer over storm-damage repairs
April 14, 2008
Cory SchoutenThe owners of a downtown skyscraper badly damaged in a 2006 storm are suing their insurance company after it halted payments
on a facade-replacement project. The suit, filed April 1, accuses the insurance company of a "bad faith" attempt to avoid
paying for repairs to the 36-story One Indiana Square building at the northeast corner of Pennsylvania and Ohio streets.
MoreSt. V: ERs needed in suburbs: Traditionally unprofitable service could thrive in two growing areas
April 14, 2008
Scott OlsonBuilding these facilities i n proven "growth markets" such as Boone and Hamilton counties, however, should prove more prosperous,
insists St. Vincent CEO Vincent Caponi. A more upscale demographic is the telling factor. Yet, the network of hospitals is
not about to abandon its purpose of serving the needy. "That doesn't mean the poor and underserved aren't going to be coming
to our front door," Caponi said. "That's always been part of our mission. We will continue [to], and gladly,...
MoreBREAKING: Lender to sell Premier properties
April 9, 2008
Cory SchoutenAn auction this month could strip locally based
Premier Properties USA Inc. of most of its real estate holdings.
MorePremier lays off workers as lawsuits, debt pile up
April 7, 2008
Cory SchoutenPremier Properties USA Inc. has eliminated about half its headquarters staff—more than 40 employees—as banks seize
several of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans,
illegally redirected rent payments and check fraud.
MorePremier Properties lays off workers as lawsuits, debt pile up
April 7, 2008
Cory SchoutenPremier Properties USA Inc. has eliminated about half its headquarters staff--more than 40 employees--as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.
MoreDeveloper pulls back on growth to survive precarious economy
March 31, 2008
Cory SchoutenThe CEO of locally based Lauth Group Inc. says most people he knows in the business, even the steely types who always project
optimism, are privately nervous about the economic morass that began with a collapse in subprime mortgages.
MoreBEHIND THE NEWS: 2 tech firms planning IPOs get curveball from markets
March 31, 2008
Greg AndrewsAprimo Inc. and ExactTarget Inc. haven't had to weather the recent stock-market turmoil. Not directly, at least. But the two
Indianapolis software companies-which filed plans for IPOs last fall, when markets were comparatively serene-surely would
have made their public debuts by now if conditions had remained favorable. Lately, they've been anything but. The tech-heavy
NASDAQ Composite is off 12 percent in the year. And the volatility of the Dow Jones industrial average is enough to make anyone
queasy. One day,...
MoreStruggling Noble Roman's takes over franchisee's 6 units
March 24, 2008
Cory SchoutenNoble Roman's Inc. has taken over the operation of six franchised restaurants in Indianapolis in a bid to prove its concept
can be executed profitably. The move--which comes amid a chorus of discontent from franchisees and as the company explores
the possibility of selling itself--could help the 1,000-restaurant chain avoid the embarrassment of store failures in its
own back yard.
MoreMortgage blues haven't hit all: Some firms are holding their own despite housing, credit slump
March 24, 2008
Scott OlsonThe local office of Cleveland-based KeyBank has hired a banking veteran to lead a revamped mortgage department that will boast
a larger sales force. And locally based mortgage firm Signature Group recently completed construction of its new headquarters
and added three brokers. In this climate of ballooning foreclosures and rising interest rates, one might wonder whether executives
of the aforementioned institutions are reading the wrong spreadsheets. To the contrary, despite the gloomy picture monthly
housing statistics paint, they are among...
MoreFarm Fresh clients pay a premium to support local growers, organics
March 24, 2008
Jennifer WhitsonMatt Ewer and his wife, Elizabeth Blessing, launched Farm Fresh Delivery LLC in July. With nearly 500 subscribers already,
the organically- and locally-grown-groceries delivery business is blooming in a segment where many large, mass-market retailers
failed during the dotcom bust.
MoreTexas investor wins over Steak n Shake shareholders, aims for chairmanship
March 17, 2008
Cory SchoutenTexas investor Sardar Biglari rode a wave of shareholder anger to a landslide victory in his quest for Steak n Shake Co. board
seats. Now, the dissident 30-year-old investor who models his approach after Warren Buffett's is hoping to deliver on his
promise to turn around the Indianapolis-based chain, with or without the chairmanship he covets.
MoreProposals to loosen Indiana's wine distribution system fail
March 17, 2008
Jonathan HiskesAt IBJ press time, the General Assembly was set to close another session without significant change to the state's complex
alcohol distribution system, ensuring another year of wrangling between wineries and wholesalers. A proposal to raise the
direct shipping limit to 10,000 cases failed. So did a broader deregulation bill brought by a new Indiana wine drinker's group,
VinSense.
MoreCreditor pursues troubled Premier's property
March 10, 2008
Cory SchoutenWachovia Bank has begun foreclosure proceedings on one of Premier Properties USA Inc.’s most prized developments,
a giant Ohio lifestyle center anchored by Target and J.C. Penney.
MoreLocal restaurants add sites, consider taking on chains
March 10, 2008
Jennifer WhitsonSeveral local eateries are going through a growth spurt, adding locations despite central Indiana diners' reputation for being
addicted to national chains. Ironically enough, the expansions could be the first step in transforming the local restaurants
into chains themselves.
MoreCreditor pursues Premier property
March 10, 2008
Cory SchoutenWachovia Bank has begun foreclosure proceedings on one of Premier Properties USA Inc.'s most prized developments, a giant
Ohio lifestyle center anchored by Target and J.C. Penney. The Charlotte, N.C.-based bank also is foreclosing on a vacant former
Wal-Mart store in front of Premier's Metropolis mall in Plainfield.
MoreCity doles out incentives to Defender Direct:
March 3, 2008
Cory SchoutenThe city plans to designate part of an office park near 96th Street and Keystone Avenue as an "economic revitalization area"
to provide tax abatements for a local company that sells ADT security systems and Dish Network subscriptions. The company,
Defender Security Co., has pledged to more than triple its Indiana work force-adding more than 1,100 new jobs-over the next
10 years. The state offered the company up to $6 million in tax credits and $345,000 in training grants to...
MoreBrowning eyes airport land
March 3, 2008
Chris O'MalleyBrowning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.
MoreRug dealers' going-out-of-business sales aren't always what they seem
March 3, 2008
Tracy DonhardtPhony going-out-of-business sales long have plagued Oriental rug retailing here and across the country, dealers say. The industry
is susceptible because Oriental rugs can cost thousands of dollars, and many consumers lack the expertise to judge whether
a rug's quality matches its price.
MoreAirport may pay $8.8 million for hotel: Deal pending; Westin won't open until at least 2009
February 25, 2008
Jennifer WhitsonThe Indianapolis Airport Authority board this month approved spending up to $8.8 million to help fund construction of a hotel
connected to the midfield terminal set to debut Oct. 28. But delays in finalizing a deal with developer Mansur Real Estate
Services means the $50-million-plus Westin will not be ready for guests until August 2009 at the earliest. The airport board
picked Indianapolis-based Mansur to build the hotel nearly a year ago. "We're still talking about what it's going to...
MoreOffice tower bounces back: Renovated National City Center recovering from loss of Simon
February 25, 2008
Scott OlsonOnce reeling from the loss of its largest tenant, National City Center now has a rising occupancy rate amid a major renovation
that is resuscitating the aging office building. Indianapolis-based Simon Property Group Inc. vacated 182,000 square feet
in National City Center by moving to its new headquarters a block away in the fall of 2006. The departure left the 16-story
tower at the southwest corner of Washington and Illinois streets 28-percent unoccupied after years of being nearly full. Owner...
MoreHousing slump puts Gramercy project in Carmel on hold:
February 25, 2008
Scott OlsonThe deteriorating housing market and Carmel's plans to build more roundabouts have led The Buckingham Cos. to put the brakes
on its ambitious Gramercy development project. The $500 million project set to begin in the spring now has no timetable. But
when construction ultimately commences, it likely will begin with the commercial and retail portions rather than the home-building
portion, as was originally planned, said Clyde Lee, a spokesman for the local developer. "They have revised the plans," Lee
said....
MoreBEHIND THE NEWS: How a smart businessman invested his way into prison
February 25, 2008
Greg AndrewsIn 1994, Indianapolis real estate entrepreneur Mark Ristow read some investment advice that changed his life. In the book
"Beating the Street," Peter Lynch, the former star mutual fund manager, described a "can't lose proposition (almost)" called
bank-conversion investing. The game: Buying stock in mutual, depositor-owned banks when they convert into public companies.
Depositors get in at the initial-public-offering price, often a discount. So "the next time you pass a mutual savings bank
or an S&L that's still cooperatively owned,"...
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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.