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Real Estate & Retail
BEHIND THE NEWS: Coastal cash flowed into tiny firm, yielding big payoff
August 7, 2006
Greg AndrewsCentury Realty Trust is but a grain of sand in the universe of real estate companies. But within the last few years, the Indianapolis
firm has caught the attention of investors on the coasts, and they're the richer for it. Now that Century Realty is selling
nearly all its properties to Indianapolis-based apartment owner Buckingham Properties and liquidating, its investors likely
will collect from $20.50 a share to $21 a share, according to a filing with the U.S. Securities and...
MoreNoble Roman's seeking a return to glory
August 7, 2006
Tom MurphyNoble Roman's Inc. executives think they've found the recipe to lift their company out of its stock malaise. The Indianapolis
company started franchising last year restaurants that feature dual branding with its Tuscano's Italian Style Subs, and it
plans 157 locations within three years.
MoreCHRIS KATTERJOHN Commentary: Orange County casino a losing bet?
August 7, 2006
I'm starting to get a bad feeling about the Orange County casino project. Truth be told, I've had the bad feeling for a long
time, and now it's getting worse. The latest blip on the radar in what has been a challenged project from the get-go is the
contentious legal battle that has surfaced between the two partners: Bob Lauth of Lauth Property Group and Bloomington billionaire
Bill Cook. I guess that's not that unusual. Ed Feigenbaum, publisher of Indiana...
MoreCrown Hill land's price tag hinges on retail approval
July 31, 2006
Jennifer WhitsonNow that Mann Properties LLC has won the bidding war for 70 acres of land on the northern end of Crown Hill Cemetery, the
rezoning debate begins.
MoreState awarenesss initiative targeting investment fraud: Program touts knowledge to prevent financial scams
July 24, 2006
Tracy DonhardtConservative estimates put the amount of money Hoosiers are bilked by investment fraud scammers at $100 million a year. The
high-end estimate for victims of pyramid scams, bogus gas and oil ventures and unscrupulous mortgage practices is closer to
$800 million. Those involved in catching and prosecuting the scammers say proactively educating people about investments in
general and scams in particular would go a long way toward helping the problem. "Our financial illiteracy is high," said Mark
Maddox, managing partner...
MoreAt age 25, Wild Birds exceeds 300 stores in 43 states, Canada
July 24, 2006
Victoria D. WilliamsWhen Jim Carpenter opened the first Wild Birds Unlimited in Indianapolis 25 years ago, his goal was to bring people and nature
together--a combination that has brought him "unimaginable" success.
MoreCity Securities buys lender in bid to reach new markets
July 24, 2006
Peter SchnitzlerCity Securities Corp., one of the largest investment firms based in Indiana, has purchased Columbus, Ohio-based ReCasa Financial
Group LLC, a specialty lender focused on rehabs of dilapidated houses.
MoreMIBOR under scrutiny by FTC
July 24, 2006
Jennifer WhitsonThe Federal Trade Commission recently slammed the Austin Board of Realtors for how the Texas organization runs its multiple-listing
service, charging that a policy change barring certain homes from Web search engines runs afoul of federal antitrust laws.
MoreAirport Authority sells 103 homes after sound modifications
July 17, 2006
Chris O'MalleyThe Indianapolis Airport Authority has begun listing at www.indianapolisairport.com homes it acquired under its nearly decade-old
"purchase assurance/sound insulation program."
MoreSt. Elmo top-selling restaurant; others sizzle, too
July 17, 2006
Matthew KishSt. Elmo Steak House was the top-selling restaurant in 2005, ringing up $11.3 million in sales, but the Cheesecake Factory,
Oceanaire, Maggiano's Little Italy, Sullivan's Steakhouse and P.F. Chang's, among others, all topped $5 million.
MoreCharter school group to buy Greek Church: Purchaser wants to talk to neighborhood about needs
July 10, 2006
Jennifer WhitsonA not-for-profit that runs roughly 60 schools nationwide has agreed to purchase the Holy Trinity Greek Orthodox church at
40th and Pennsylvania streets. Imagine Schools Nonprofit Inc. hopes to set up a charter school at the site, but Jason Bryant,
the corporation's vice president in charge of Illinois and Indiana operations, said it first wanted to hold community meetings
to get input on what's needed. "There is flexibility for each individual school to set its own curriculum," Bryant said. The...
MoreNew law provides Realtors an edge
July 10, 2006
Tracy DonhardtA new state law backed by Realtors that critics say stifles cut-rate competition already has prompted a discount brokerage,
California-based HomeYeah!, to shutter its operations here.
MoreBank boss eyes No. 1: New Fifth Third chief plans expansion, faces tough Chase
July 10, 2006
Matthew KishThe view from John Pelizzari's 14th-floor office in downtown's Capital Center is a good one. The recently hired president
and CEO of Cincinnati-based Fifth Third Bancorp's central Indiana operations can see the rooftops of many of downtown's landmarks.
And he likes it that way. He's used to the view from the top. From 2001 to 2005, Pelizzari, 50, captained the ship for Fifth
Third's northern Michigan affiliate, which enjoyed a whopping 28-percent market share, more than 10 percentage points higher...
MoreDeveloper goes west with retail: Lauth's Brownsburg Station to cover nearly 70 acres
July 3, 2006
Matthew KishLauth Property Group soon will break ground on Brownsburg Station, a massive retail complex that will be one of the largest
in the Indianapolis area. The Brownsburg property, which will be roughly 500,000 square feet and sit on almost 70 acres, will
take advantage of the west side's rapidly growing suburbs. The project received preliminary approval from the town of Brownsburg
in late June and needs only to clear a few minor hurdles before building can begin. Tenants could move...
MoreIPS swap a flop?: Browning tells district to drop land-trade plan; site drew just 3 bids despite prime location
July 3, 2006
Jennifer WhitsonIndianapolis Public Schools is sitting on a 12-acre parcel of prime downtown land it probably could sell for big bucks. But
its pursuit of a land swap instead has tempered interest in the site and raised questions about whether such a complicated
deal is the way to go. Just three developers responded to IPS' request for bids on its land east of Massachusetts and College
avenues, despite the unsolicited inquiries that drove the school district to explore its options in...
MoreMarket Square project in doubt: Two months before deadline, condo developer won't talk, scales back its sales effort
June 26, 2006
Jennifer WhitsonThe city of Indianapolis already has twice pushed back the deadline for closing a deal with the developer of a high-rise condo
project slated for the former Market Square Arena site. Now, with the latest deadline of Aug. 31 looming, officials with developer
Market Square Partners LP are incommunicado amid signs they're struggling to find enough buyers to get the project off the
ground. The sales office, once staffed daily, now apparently operates on an appointment-only basis. The developer hasn't...
MoreWhole Foods shopping for alternative store site: Will grocery go to Nora instead of Keystone Crossing?
June 26, 2006
Matthew KishWhole Foods might not be coming to Keystone at the Crossing after all. Residents of the Driftwood Hills neighborhood sued
the city in February after it approved a zoning change allowing developer Paul Kite to build a Whole Foods grocery, plus as
many as 30 condominiums, on the northwest corner of 86th Street and Keystone Avenue. As residents push on with their effort
to block that zoning decision, Whole Foods is exploring other sites, including one in nearby Nora, for...
MoreBuilder targets entire block: Centex in talks to buy land from Shapiro's Deli, others for downtown development
June 26, 2006
Jennifer WhitsonA national home builder is negotiating to purchase an entire downtown block for a retailand-residential development-a project
that could temporarily displace the landmark Shapiro's Deli. Dallas-based Centex Corp. says the block southeast of the planned
Lucas Oil Stadium is among several downtown-area locations it is reviewing for its first local foray into urban residential
development. Brian Shapiro, owner of Shapiro's Deli, 808 S. Meridian St., said he has not reached a final agreement to sell
his property. But he hinted...
MoreDriving through adversity: First-time team owner uses business fundamentals to help reach the finish line
June 26, 2006
Matthew KishIt's been a bumpy ride for Michael Crawford this year. Scratch that-it's been like driving into a concrete wall at 190 miles
per hour. Repeatedly. The rookie race team owner put his financial livelihood on the line this year to buy two cars and run
them in the Indy Pro Series, the open-wheel racing equivalent of AAA baseball, one step below the major leagues. IBJ is following
Crawford's progress in hopes of shedding light on the challenges startups face when...
MoreLots of new office space planned along North Meridian: Some say corridor is beating out Keystone
June 19, 2006
Jennifer WhitsonWhen Walker Information Inc.'s lease was up on its Keystone-area offices, it looked citywide for new space. In February, the
company signed a lease for space in a building along the North Meridian Street corridor because it got a good deal from Lauth
Property Group Inc., according to Walker's broker, Samuel F. Smith, of Resource Commercial Real Estate. Several area developers
are betting that others will follow Indianapolis-based Walker's lead, lured by the prestige of a North Meridian Street address....
MoreBULLS & BEARS: Blunting market volatility is tougher than it sounds
June 19, 2006
Ken SkarbeckIn investing, the term "correlation" refers to how different types of assets move in relation to one another. Investment categories
that tend to move in unison are "positively correlated." Whereas, "non-correlated" or " l ow - c o r r e l a t e d " assets
will tend to move in opposite directions or at least not in lockstep. This behavioral difference among various asset classes
is the primary argument for diversification. By populating your portfolio with some...
MoreLand lease holds building hostage: Owners of parcel entangled in court fight
June 19, 2006
Jennifer WhitsonA scuffle for ownership of land under downtown's landmark Illinois Building has spilled into court, possibly bogging down
efforts to redevelop the vacant structure. Building owner HDG Mansur leases the land from its owners under a 99-year agreement
it inherited when it bought the building. The pact, signed in 1919, stipulates that any improvements on the land revert to
land owners when the lease expires in 2018. A Lebanese businessman appears to be working with HDG Mansur to break the...
MoreHilbert estate drawing some offers: Letterman, Babyface, Judd not interested
June 19, 2006
Tom MurphyColts quarterback Peyton Manning passed on a chance to buy the Carmel estate built for Conseco Inc. founder Stephen Hilbert
that's on the market for a cool $20 million. Pacers forward Jermaine O'Neal also rejected the opportunity a couple of times,
real estate broker Dick Richwine said. Nearly a year after it went up for sale, the Carmel property labeled the most expensive
home in Indiana is still searching for the right buyer. But a recent flurry of interest and...
MoreEYE ON THE PIE: Too many studies spoil the broth
June 19, 2006
Morton MarcusWant to build a stadium? Maybe you have a highway in mind? Maybe your highway has a different route from that of another group
of enthusiasts? Is your concern a new zoo or an existing art museum? How about that boysenberry festival? The venerable college
in town? That remodeled convention facility? That autoassembly plant? That new wing on the hospital? That new housing development?
Or are you looking at something unquestionably noble? A church, a school, a senior center, a...
MoreQuality Roofing Services: Success helps roofers sleep through the night After surviving a rough first year, company shows
signs of progress
June 19, 2006
Susan RaccoliAfter surviving a rough first year, company shows signs of progress Sleepless nights, upset stomachs and paranoia were common
woes for the owners of Quality Roofing Services throughout their first year in business. "We worried about finances and thunderstorms,"
said co-owner Paul Crafton, 50, recalling the professional and personal strain. "We wondered if we would make our payroll
or go under and lose our investment." But they persevered, starting their days early-often at 5:30 a.m.-and working late.
Eventually, their efforts...
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liek the rest of America
These quaint,obsessed musings by the stalkers are certainly entertaining, but I'm trying to figure out what, if anything, all the yelping below has to do with Zak Brown.
It's evident that Moffett was pushing the right buttons and corporate America is now trying to squash him. He just wanted to withdraw the free pilot services provided to the company by the pilots to try and put some pressure on a company that has not been interested in negotiating a contract in over 5 years. The company does not provide a contract because not having one has saved them a bundle of money. Shame on any Republic pilots not standing behind their union leader just because things are getting tough, can you not see such strategic moves by the company as putting the last union president in a corporate position and into THEIR pocket. Do you really believe the last union president is so appalled at the attempts by Moffett, do you not remember his oppositions to the company? We stood behind him. It has been proven over and over again for thousands of years without fail, a man cannot serve two masters. Anyone that believes people vote contrary to their paycheck and livelihood deserve to be taken advantage of, the recent statements by the former union president are laughable as he denounces the current union president from his new corporate position. Have you ever seen a drafted sports player score points for his previous team, it cannot be done, he is not on the pilots side anymore, he gets his money a different way now than you and I do, and he should not be allowed to remain on the seniority list. A drafted player brings strength, credibility, tactical knowledge, and a strategic advantage to his NEW team, he would not be drafted or paid were it otherwise. We are all forced to choose only one side to play for and support, not doing so has many references in life such as insider trading and shaving points, all illegal for good reason. This basic fact is why corporate moguls, scientist, and engineers all sign non-discloser agreements and non-compete clauses, as protection in case they are lured into switching sides as our former union president has done. No NFL coach ever drafted a player so that both teams could benefit and better understand each other, they are recruited to win the game against that former team, period. Likewise the company does not recruit the former union president by accident or mutual understanding, its strategy. Don't confuse playing the game with good sportsman-like conduct in support of common business and prosperity goals, with the requirement to only play for one side. Good men we all love and favor fall subject to this manipulation, often without their knowledge, and it is not a betrayal of their friendship to oppose them when they switch sides. If we did not love and trust them, they would not have been chosen and lured to the other side in the first place. The deception by the drafted player is not made at a conscious level, it's just human nature and it's all about money and power which corrupts our ability to be objective and loyal to two masters. This is why our court system created the defense attorney, and why our military created counter intelligence. Its strategy and its propaganda, and it works, and that's why the "powers to be" manipulate the chess pieces by sometimes changing their colors. Some players know they are being manipulated when their color is changed, but it brings them more money and power so they do not care. The rest have good intentions but do not even realize they are being manipulated. This tactic is also known by another name, Divide and Conquer. In battle sending an imperfect message with an imperfect team is obviously not ideal, but it's still being sent by YOUR team, your union leader, a leader that has common goals and common rewards with you, they are the best, because we have elected them to do a job for us. If you are not backing Moffett but believing the spin by those that have recently switched sides, you are taking food out of your own mouth. Showing unity and backing an imperfect situation still results in taking just as much ground, it's about unity and bargaining power. It's not necessary to wait around for that perfect attack because it will never come, the company will spin and attempt to destroy anyone that gets in their way. Ultimately it's not about any specific attack anyway, ASAP or whatever it makes no difference, it is and always has been only about power. If this company cared about safety it would not build pairings with 8 hour overnights, come on, are you that naive? Besides, do you really think Hoffa cares, no, he got a call from corporate America and was squeezed into denouncing Moffett. If he didn't they would spin the safety card against him and the Teamsters National with implication for truckers, future contracts, insurance rates etc...saying something like the Teamsters use safety as a bargaining chip, blah blah blah... Do you really think any pilot is going to do something unsafe for the contract, absolutely not, the only ones threatening safety here is the company with reduced rest, fatigue, and poverty. Do you not find it odd that Hoffa and the Teamsters are opposing a Teamster president publicly? Would the Teamsters National not normally support and work with one of their own? Why did they not sit down and help him strategize, correct any mistakes, and charge ahead? Would the Teamsters National not normally support and leverage a contract for all those pilots that have been paying Teamster dues, isn't that why we have all been paying Teamster dues in the first place? I sure haven't been paying dues so that the Teamsters National could come along and write this kind of an article undercutting our union leader and our unity. Whose side is the Teamsters National really on, it's obviously not the Republic pilots side.
No matter what Moffatt does the company is going to spin it like he is the terrorist and brainwash people like you into believing it, wake up, back your players that are trying to change things for you and your livelihood. Where has Hoffa been for the last 6 years, except collecting our dues. Seriously, do you really think an FO going for upgrade, signed off by a checkairman ready for the upgrade, who then fails, is not even capable of returning as a First Officer.
whoa!