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Real Estate & Retail
Inventory tax repeal still being hailed as good decision: Amid rising property taxes, economic development officials and brokers
say taxing inventory was bad policy
August 13, 2007
Scott OlsonWith the state in an uproar over soaring property taxes, some have wondered whether phasing out Indiana's business inventory
tax was a good idea. The phase-out process began in 2002 before completely eliminating the inventory tax this year, taking
with it roughly $380 million in tax revenue shared annually by local governments. Supporters of the move insist lawmakers
made the right decision. And they say Indiana has become more attractive to business as a result. Marion County property-tax
bills were...
MoreClass A towers paying B taxes
August 6, 2007
Cory SchoutenWhen it comes to advertising and marketing, the city's two tallest skyscrapers are Class A, all the way. But throw out that
notion at tax time. The owners of Chase Tower and OneAmerica Tower--and some of the city's other large office buildings--have
successfully lobbied for lower building "grades" that save them big bucks on property taxes.
MoreDealer Services Corp. has rival Adesa taking notice
August 6, 2007
Chris O'MalleyDealer Services Corp. is an example of what happens when an entrepreneur sells his company to a bigger one and then comes
back to haunt it after he is tossed aside. In this case, the spurned entrepreneur, John Fuller, became a thorn to Adesa Inc.
a few years after its CEO sent him packing in late 2001.
MoreSTARTUP GAZELLE WEB & CONSULTING LLC: Entrepreneur offers to help entrepreneurs
July 30, 2007
-Amanda GetchelSTARTUP GAZELLE WEB & CONSULTING LLC Entrepreneur offers to help entrepreneurs Type of business: Consults with startup and
growing companies Location: 885 Waveland Lane, Greenwood Phone: 450-7746 E-mail: lott.brandon@gmail.comWeb site: www.gazellewebandconsulting.comFounded:
December 2006 Owner: Brandon Lott Owner's background: Lott, 33, grew up in the south side of Indianapolis and graduated from
Indiana University in 1998 with a health care degree. He went to New York in 2005 to work as an operations manager for retailer
Alan Flusser Custom Shop, but...
MoreMerger has bank near top: Huntington a big player after acquisition of Sky
July 30, 2007
Scott OlsonHuntington Bancshares Inc. entered the Indianapolis market in 1986 and since has led a relatively unassuming existence, barely
cracking the top 10 in local deposit amounts and operating just a few dozen branches. So, the Columbus, Ohio-based bank is
entering uncharted territory following its $3.6 billion acquisition of fellow Buckeye bank Sky Financial Group Inc. in Bowling
Green. Huntington completed its purchase of Sky on July 2, making it the 24th-largest domestic bank in the United States in
terms of...
MorePan Am buyer to raze rinks
July 30, 2007
Cory SchoutenA Texas firm has agreed to buy Pan Am Plaza's 12-story office building and skating rinks and is planning to replace the rinks
with a more-than-$50-million restaurant and retail development.
MoreNew kind of high school pairs projects, technology: Educators hope approach boosts graduation rates
July 30, 2007
Tracy DonhardtStudents at three new Indiana high schools this fall are going to learn the California way. No, they won't be holding classes
on the beach. They'll use technology and a project-oriented curriculum to learn about math, science and history, plus gain
21st century skills business leaders say today's work force needs. The New Technology High School model, which began in Napa
Valley, Calif., in 1996, will launch in Indiana this fall with New Tech High at Arsenal Tech, New Tech...
MoreStrides taken in life sciences, experts say: Industry panel: Thanks to ongoing efforts, Indiana has experienced serious progress
as biomedical hotbed during last 5 years
July 23, 2007
Five leaders of Indiana's life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part
of the Indianapolis Business Journal's Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment
bank Credit Suisse's Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state's
life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a
biotechnology company focused on the treatment of cancer through receptor-targeted...
MoreNOTIONS: A property tax sigh of relief and a reform wish list
July 23, 2007
Bruce HetrickThe nightstand clock reads 5:17. Too early to wake up. But hey, I've been tossing and turning for hours, so why lie here any
longer, pretending? The cause for this night's insomnia is money. Money for two kids starting college. Money to replace the
Money to paint the house. Money for employees' salaries. Money for employees' parking. Money for employees' retirement. Money
for employees' health insurance. Money for their families' health insurance. Money to get the yellow highway paint off...
MoreVIEWPOINT: Art is good for business and the community
July 23, 2007
Bradley B.The Arts Council of Indianapolis and the Indianapolis Cultural Development Commission recently launched a campaign to encourage
individuals and businesses to buy art from local artists. I couldn't agree more with the message. In addition to the "Be Indypendent,
Buy Indy Art" stickers you'll no doubt see all over town soon, the campaign includes a Web site, www.beindypendent.org, with
a downloadable "how to" guide, plus links to the Arts Council's artist database that includes the work of more than 400...
MoreHotel tower planned by stadium, Lilly campus
July 23, 2007
Cory SchoutenAfter years of designing banks, churches and condo conversions, Prince/Alexander Architects Inc. is working
with unnamed partners on a plan to replace its headquarters with a $47 million, 24-story hotel and condo development called
West Merrill Tower.
MoreBrugge Brasserie gastro-pub to produce line of 10 beers
July 23, 2007
Amanda GetchelSince mid-2005, Brugge Brasserie's beer tanks have been operating at full capacity--pouring out 400 barrels of its signature
Belgian brew each year. Now the Broad Ripple gastro-pub is aiming higher. Brugge owner Ted Miller is set to start producing
a line of 10 bottled beers--plus seasonal specialties.
MoreHuntington consolidates downtown office space: Bank leaving Capital Center after merger with Sky
July 16, 2007
Cory SchoutenHuntington Bancshares is giving up its local headquarters in Capital Center downtown now that it has completed its $3.6 billion
purchase of Sky Financial Group. The 100 employees based at Capital Center, 201 N. Illinois St., will move to a Sky-owned
office building at 45 N. Pennsylvania St. Sky bought the building last year as part of its $321 million purchase of locally
based Union Federal Savings Bank. Bowling Green, Ohio-based Sky announced it was being purchased by Columbus, Ohio-based...
MoreBEHIND THE NEWS: Why diner chain whets the appetite of the buyout crowd
July 16, 2007
Greg AndrewsThe Steak n Shake Co. may not be delighting diners these days, if slumping sales are any indication. But you can bet the privateequity
crowd is salivating. Investment pros say the Dallas-based investment group that recently amassed a big stake in Steak n Shake
surely isn't alone in hungering to take the Indianapolis-based diner chain private. "Some ... funds make their money by identifying
underperforming companies that have intrinsic value which can be unlocked," Motley Fool columnist Timothy Otte wrote...
MoreSPORTS: Tennis tourney healthy but needs a new home
July 16, 2007
Bill BennerA significant Indianapolis sporting event with international appeal is preparing to celebrate its 100th anniversary in 2011.
The Indianapolis 500? Well, yes, that too. Far less-wellknown and recognized is that the origins of elite-level competitive
tennis in Indianapolis also date back to just after the turn of the century ... the last century, that is. Records show that
the Western Tennis Championships, which led to the U.S. Clay Court Championships, which led to the U.S. Hardcourt Tennis Championships,
which led...
MoreSPORTS: Pan Am Games was 'coming out' party for city
July 9, 2007
Bill BennerTwenty years ago, Indianapolis was preparing to take on the world. Or at least half of it. It was a month before the 10th
Pan American Games. In my lifetime, I do not recall many times-if any-when there was such a feeling of collective effort.
This wasn't a city rooting for a team, like the Pacers or the Colts. This was a city rooting for itself to pull off this mammoth
undertaking, to show not just the country, but the...
MoreCircle Centre doing well except for 4th level
July 9, 2007
Cory SchoutenExcluding the fourth floor, Circle Centre mall's 11th full year of operation was a big success. Profit in 2006 increased nearly
18 percent to $9.3 million, according to an annual report filed with the city. But on the top floor, abandoned bar stools
have now collected four years of dust in the former home of a nightclub complex.
MoreCondo owners in quandary over developer's offer
July 9, 2007
Cory SchoutenThe questions these days among residents of Lakes at the Crossing, a quiet community of 77 condos tucked behind a strip center
and an office park along 86th Street at Keystone Avenue, are: Who will sell, and for how much?
MoreDowntown hotel towers in works
July 2, 2007
Jennifer WhitsonSouth-side developer J. Greg Allen is pitching a massive project along Pennsylvania Street downtown that includes hotel towers--one
28 stories, the other 17--to be built on property now used mainly for surface parking.
MoreLaw firms team up to encourage minority participation: Bingham McHale forms alliance with Coleman Graham & Stevenson
July 2, 2007
Scott OlsonA surge in the number of corporations seeking minority participation on contracts has prompted an alliance between two local
law firms looking to capitalize on the trend. The June affiliation between Bingham McHale LLP, the city's fifth-largest practice,
and Coleman Graham & Stevenson LLC, a minority-owned upstart, resulted from mutual friendships within the two firms, said
Toby McClamroch, Bingham McHale's managing partner. "The marketplace is becoming more complex, and the business community
is demanding and expecting a multicultural and diverse...
MoreBULLS & BEARS: Answers to tax questions are sometimes surprising
July 2, 2007
Ken SkarbeckTaxes are always a consideration in investment decisionmaking. Investors need to be vigilant to changes in the tax code, because
from year to year there may be changes that can affect the choices they make. And while there are some broad tax generalities,
an individual's tax profile is specific to that person. Navigating the tax code can be daunting. Yet with some tedious reading
and a strong dose of common sense, investors can arrive at rational decisions. I have found...
MoreMarsh spending remodeling, renaming 105 stores
July 2, 2007
Cory Schoutenthe mood seems upbeat again at Marsh Supermarkets Inc., thanks to a chain-wide effort to upgrade stores and win back loyalty
from customers and employees. CEO Frank Lazaran said the chain has launched a campaign to remodel 70 percent of its grocery
stores within a year and rebrand every one of them.
MoreEYE ON THE PIE: Here's government behavior at its best
June 25, 2007
Morton MarcusAt last, the professional basketball season is over. At last, the saga of the Sopranos is ended. The Cubs, the Cards, the
White Sox and the Reds are in their usual states of disgrace. Our governor has announced his candidacy for reelection. There
seem to be no surprises in our world. How normal are things? Consider this: Indiana and Illinois have agreed on reciprocal
discounts for motorists on their toll roads. If you live in DeKalb County, Indiana, and visit...
More'Find your niche ':
June 25, 2007
-Andrea MuirraguiHis goal was to provide the proverbial one-stop shop, a place where "honey do" lists got done. Before long, he realized he
may not have been aiming high enough. It seemed homeowners with not-so-handy honeys weren't the only customers interested
in what Schneller was selling. He also got calls from real estate agents who needed some last-minute home repairs completed
before a sale could close. "They came to us with a laundry list of items," Schneller said, ticking off an...
MoreBigger not best for all: drophead Many attorneys find greener pastures in smaller practices after leaving major firms
June 25, 2007
Scott Olsonnot Bigger leaving best for red all tape drophead Many attorneys find greener pastures in smaller practices after leaving
major firms When lawyers Debra Miller and James Fisher fled legal powerhouse Ice Miller LLP and the prestigious partner status
they had earned, their stable of coworkers swiftly sank from nearly 250 to none. Yet 15 months later, after the pair left
the largest law firm in the city, they say they're quite content practicing together at Miller & Fisher LLC,...
More
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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!