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Real Estate & Retail
CHRIS KATTERJOHN The case of the missing passport Commentary:
February 6, 2006
Friday, 7:30 a.m.: I arrive at Indianapolis International Airport for a 9:01 a.m. flight to Puerto Vallarta, Mexico, where
I'll be attending a conference, and realize I have left my passport at home. I ask myself, "How could I be so stupid?" Friday,
7:35 a.m.: I check in at the American Airlines ticket desk, then call my brother, who is already at work. I ask him for a
"huge favor," whereupon he leaves work, goes to my house to retrieve...
MoreCompensation takes stage in state leasing contracts: Meridian Asset, Resource to cap fees on state leases
February 6, 2006
Tammy LieberNew contracts between the state of Indiana and two local commercial real estate brokerages signal the beginning of an overhaul
of how the state handles its real estate. Resource Commercial Real Estate and Meridian Asset Development will, at least for
the next year, broker leases on behalf of the state. State agencies pay nearly $40 million each year to lease space in nearly
every county. In many cases, agencies or the Indiana Department of Administration handle leasing duties, but IDOA...
MoreABDUL-HAKIM SHABAZZ: Indy Works, part deux (the sequel)
February 6, 2006
As someone who enjoys a good film, I always worry when Hollywood tries to produce a sequel. The producers figure they raked
in millions on an idea, so they run it again and again until it's run into the ground. Mayor Bart Peterson is hoping to pass
Indianapolis Works '06 through the Indiana General Assembly this session. How successful will this sequel be? Let's look at
all the players and find out. Last session, GOP lawmakers gave the mayor police...
MoreIPOs take minor dip in 2005: Analysts stay optimistic; 3 Indiana companies set to go public in early '06
January 30, 2006
Scott OlsonThree Indiana companies took the plunge to go public last year, two less than the number that did so in 2004. The state's
slight dip in initial public offerings mirrors the slump in activity nationally. But Indiana appears to be off to a fast start
for 2006. Three other Hoosier companies filed to go public late last year, but had yet to complete their IPOs by year's end.
Overall, the number of companies that went public on the major U.S....
MoreSPORTS: Crazy-with-grief Colts fans, you're now on the air
January 30, 2006
Bill BennerWelcome to WIBJ Radio. I'm Beebee, your host of "Sports Geeks." Our first caller is Fred from Franklin. Fred? Beebs, man,
here's how we handle those low-life, stomp-onour-hearts, marshmallow-soft Indianapolis Colts. We take their new stadium away.
I mean, they are not worthy. So until they reach the Super Bowl, I say keep 'em in the Dome. Fred, what do we do with that
big hole? Fill it in with water so the bean company can have beachfront property. Let's...
MoreAppliance biz heads north: Clark to open Castleton store, compete with H.H. Gregg Fine Lines for high-end customers
January 30, 2006
Matthew KishThe high-end appliance retailer Clark Appliance Showcase will open a store practically in the back yard of its closest competitor
in early March. Does the move signal a turf battle between two local retailers that cater to homeowners willing to pay luxury
car prices for a kitchen? Not really. The local market for products such as $10,000 Viking ranges is growing so fast that
executives at Clark and H.H. Gregg think there's room for both on the northeast side. "It's...
MoreBusy year, but no record: A Wellpoint deal leads list for second year in row, but 2005 lacks blockbuster
January 30, 2006
Peter SchnitzlerFor the second year in a row, a giant Wellpoint deal led the pack. As much money was involved in Wellpoint's $6.7 billion
acquisition of WellChoice Inc. as in the rest of the list combined. It was a huge deal by most any company's standard-except
Wellpoint's. The year before, Wellpoint's $22.7 billion merger with Anthem Inc. led all deals and then some. Thanks to that
single mega-deal, 2004's $31 billion list total shattered all previous local merger and acquisition records....
MoreBEHIND THE NEWS: Call puts Smulyan on spot; fellow execs know feeling
January 30, 2006
Greg AndrewsEmmis Communications Corp. didn't have the best news to report when it rolled out fiscal third-quarter financial results Jan.
9. Expect radio revenue next quarter to increase just 1 percent to 2 percent, the company said, even as expenses climb more
than 5 percent. Then, on the investor conference call that followed, Wachovia Securities analyst Marci Ryvicker didn't think
CEO Jeff Smulyan was his regular, upbeat self. "Jeff, your tone is less optimistic than it's usually been," she said on...
MoreECONOMIC ANALYSIS: Americans' spending binge is ultimately unsustainable
January 30, 2006
Patrick BarkeyAmericans don't save much these days. Twenty years ago, our 9-percent rate of savings was troubling and somewhat embarrassing,
compared with the double-digit savings rates of other industrialized economies. But that rate seems sky-high compared with
today. If savings rates remain as low as they've been the last few months, we may have to rename them. Dis-saving rates? It's
an odd-sounding word, if it even is one. But what else do you call a negative savings rate? According to the...
MoreBEHIND THE NEWS: Call puts Smulyan on spot; fellow execs know feeling
January 23, 2006
Greg AndrewsEmmis Communications Corp. didn't have the best news to report when it rolled out fiscal third-quarter financial results Jan.
9. Expect radio revenue next quarter to increase just 1 percent to 2 percent, the company said, even as expenses climb more
than 5 percent. Then, on the investor conference call that followed, Wachovia Securities analyst Marci Ryvicker didn't think
CEO Jeff Smulyan was his regular, upbeat self. "Jeff, your tone is less optimistic than it's usually been," she said on...
MoreBusy year, but no record: A Wellpoint deal leads list for second year in row, but 2005 lacks blockbuster
January 23, 2006
Peter SchnitzlerFor the second year in a row, a giant Wellpoint deal led the pack. As much money was involved in Wellpoint's $6.7 billion
acquisition of WellChoice Inc. as in the rest of the list combined. It was a huge deal by most any company's standard-except
Wellpoint's. The year before, Wellpoint's $22.7 billion merger with Anthem Inc. led all deals and then some. Thanks to that
single mega-deal, 2004's $31 billion list total shattered all previous local merger and acquisition records....
MoreSPORTS: Crazy-with-grief Colts fans, you're now on the air
January 23, 2006
Bill BennerWelcome to WIBJ Radio. I'm Beebee, your host of "Sports Geeks." Our first caller is Fred from Franklin. Fred? Beebs, man,
here's how we handle those low-life, stomp-onour-hearts, marshmallow-soft Indianapolis Colts. We take their new stadium away.
I mean, they are not worthy. So until they reach the Super Bowl, I say keep 'em in the Dome. Fred, what do we do with that
big hole? Fill it in with water so the bean company can have beachfront property. Let's...
MoreECONOMIC ANALYSIS: Americans' spending binge is ultimately unsustainable
January 23, 2006
Patrick BarkeyAmericans don't save much these days. Twenty years ago, our 9-percent rate of savings was troubling and somewhat embarrassing,
compared with the double-digit savings rates of other industrialized economies. But that rate seems sky-high compared with
today. If savings rates remain as low as they've been the last few months, we may have to rename them. Dis-saving rates? It's
an odd-sounding word, if it even is one. But what else do you call a negative savings rate? According to the...
MoreIPOs take minor dip in 2005: Analysts stay optimistic; 3 Indiana companies set to go public in early '06
January 23, 2006
Scott OlsonThree Indiana companies took the plunge to go public last year, two less than the number that did so in 2004. The state's
slight dip in initial public offerings mirrors the slump in activity nationally. But Indiana appears to be off to a fast start
for 2006. Three other Hoosier companies filed to go public late last year, but had yet to complete their IPOs by year's end.
Overall, the number of companies that went public on the major U.S....
MoreAppliance biz heads north: Clark to open Castleton store, compete with H.H. Gregg Fine Lines for high-end customers
January 23, 2006
Matthew KishThe high-end appliance retailer Clark Appliance Showcase will open a store practically in the back yard of its closest competitor
in early March. Does the move signal a turf battle between two local retailers that cater to homeowners willing to pay luxury
car prices for a kitchen? Not really. The local market for products such as $10,000 Viking ranges is growing so fast that
executives at Clark and H.H. Gregg think there's room for both on the northeast side. "It's...
MoreBike Line, Broad Ripple firm plan Mass Ave purchases: Two sales would be latest in owner-occupant trend
January 16, 2006
Tammy LieberTwo buildings on Massachusetts Avenue downtown are slated to change hands in coming weeks as two Broad Ripple businesses stake
their claims on the resurging corridor. The first deal scheduled to close is the sale of 409 Massachusetts Ave., owned for
the last 15 years by advertising firm Young & Laramore. Elizabeth Dillon, owner of RN Specialties, plans to move her growing
10-year-old company and its 21 employees into the 17,000-square-foot building after minor renovations to the ad agency's former...
MoreGrowing numbers facing 'rich' tax: Alternative minimum tax reaching middle class
January 9, 2006
Scott OlsonThe number of Americans subject to the alternative minimum tax is expected to skyrocket this year unless Congress passes a
retroactive safeguard. The tax, designed to prevent the rich from skirting taxation, threatens more middle-class families
every year because of inflation. But because federal lawmakers failed to extend a "patch" that normally protects the less-than-wealthy
from the AMT, it is estimated that 16 million more taxpayers could fall into its grasp this year. The AMT is catching many
local taxpayers...
MoreDaniels' team shakes up pension fund for teachers: Retirement plan may risk more on private equity
January 9, 2006
Peter SchnitzlerUnder Gov. Mitch Daniels, Indiana is renewing its commitment to making sure teachers receive their pensions. But in the process,
the state may also put their pension principal at greater risk. State Budget Director Chuck Schalliol said the $7.5 billion
Indiana State Teachers' Retirement Fund is considering expanding its holdings in private equity. The enormous pension fund
already allocates 5 percent of its assets, or $240 million, toward such investments, which include venture capital, real estate
and leveraged buyouts. Highly...
MoreTOM HARTON Commentary: On defense, Republicans get divisive
January 2, 2006
After Republicans Scott Keller and Lance Langsford broke party ranks at the Dec.19 City-County Council meeting and voted for
cop consolidation and an expanded human-rights ordinance, fellow Republican Jim Bradford e-mailed them and questioned whether
they were true Republicans. Lately, it's Bradford and other Republican hard-liners who don't seem like the Indianapolis Republicans
of old. Republicans mayors Richard Lugar, William Hudnut and Steve Goldsmith provided pragmatic, progressive leadership here
in the 1970s and '80s and '90s. Lugar and longtime Council...
MoreBig sale finishes hot year: Firm buys 6 office buildings at Keystone at the Crossing; price lags other mega-deals
December 26, 2005
Tammy LieberA record year for sales of local office properties is ending with a bang, as a half dozen buildings at Keystone at the Crossing
change hands. Philadelphia-based Berwind Property Group purchased a six-building portfolio, including the high-rise office
towers at Keystone at the Crossing, from Teachers Insurance and Annuity Association. The deal, which closed Dec. 22, includes
buildings totaling about 1 million square feet at 8500, 8888, 8900, 8930, 9100 and 9200 Keystone Crossing, developed by locally
based Duke Realty...
MoreMarsh puts itself up for sale:
December 26, 2005
-Matthew KishLocally based Marsh Supermarkets Inc. closed out perhaps the most disappointing year in its nearly 75-year history by hanging
a for-sale sign on its front door. The announcement came Nov. 29, the same day the grocer reported another disappointing quarter-this
time a $3.4 million loss on revenue of $549.6 million. Marsh said it had hired Merrill Lynch to explore alternatives, including
a sale, but otherwise said little. Increasing competition from large-format retailers such as Wal-Mart is partly to blame
for...
MoreHotel proposed for Hamilton County's Strawtown: Site overlaps sensitive American Indian land
December 19, 2005
Matthew KishHamilton County park officials hope to find a developer to build a three-star hotel in 750-acre Strawtown Koteewi Park, an
area rich with fragile American Indian artifacts. Businesses near the northeastern Hamilton County park love the idea. American
Indian groups are less enthusiastic, but willing to work with park officials. "It's kind of disturbing," said Chief Brian
Buchanan of the Miami Nation of Indians of the State of Indiana. "You wouldn't want anybody digging up your grandmother."
Buchanan learned of...
MoreDuke, Bremner pairing bearing fruit for both companies: Venture surpasses goals with $100 million in projects
December 19, 2005
Tammy LieberA year after forming a joint venture to pursue health care development, Duke Realty Corp. and Bremner Healthcare Real Estate
are preparing to storm the Southeast, one of Duke's stronghold markets, by opening offices in Atlanta and Miami, and by bringing
on a new partner. Announced last December, Duke's and Bremner's joint venture this year locked up $100 million worth of projects,
ranging from a medical office building on Michigan Road in Hamilton County to an outpatient hospital in Summit,...
MoreMSA condo interest builds: With sales up, developer hopes to begin site work in January
December 12, 2005
Tammy LieberTwo months after unveiling a new name, new floor plans and a new sales center for their development, the team in charge of
building condominiums on the former Market Square Arena site is reporting more success than the first time around. Reservations
have been taken for two-thirds of the units that need to be sold before the developer can fund One Market Square, real estate
agent Kurt Flock told the Metropolitan Development Commission Dec. 7. Market Square Partners is considering...
MoreBEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall
December 12, 2005
Greg AndrewsAs if Marsh Supermarkets Inc. didn't have enough problems, here's another whopper: The company has a drastically underfunded
employee pension plan-to the tune of $44 million. That figure is disclosed deep within a Securities and Exchange Commission
filing the company submitted in June. It shows the pension plan had assets of $39 million, less than half its $83 million
in projected obligations. It's a big shortfall, and one analysts say is sure to draw the attention of potential suitors. An...
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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.
For those who let this information strike a nerve, remember that this is still the America that allows the freedom to achieve dreams and goals. Should you really chastise those who are given a perk on a deal that is supported by the consumer (that is until they don't like the deal anymore due to envy) or should the dream of rewards for working be looked at a little closer? I say lets stick to the deal, go to work,earn our keep, shoot for dreams, change our jobs to have that dream or shut up about others achievements ..............while we are still afforded this liberty of America !
Three Magi
Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.