Real Estate & Retail

ECONOMIC ANALYSIS: Americans' spending binge is ultimately unsustainableRestricted Content

January 30, 2006
Patrick Barkey
Americans 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...
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BEHIND THE NEWS: Call puts Smulyan on spot; fellow execs know feelingRestricted Content

January 23, 2006
Greg Andrews
Emmis 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...
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Busy year, but no record: A Wellpoint deal leads list for second year in row, but 2005 lacks blockbusterRestricted Content

January 23, 2006
Peter Schnitzler
For 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....
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SPORTS: Crazy-with-grief Colts fans, you're now on the airRestricted Content

January 23, 2006
Bill Benner
Welcome 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...
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ECONOMIC ANALYSIS: Americans' spending binge is ultimately unsustainableRestricted Content

January 23, 2006
Patrick Barkey
Americans 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...
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IPOs take minor dip in 2005: Analysts stay optimistic; 3 Indiana companies set to go public in early '06Restricted Content

January 23, 2006
Scott Olson
Three 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....
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Appliance biz heads north: Clark to open Castleton store, compete with H.H. Gregg Fine Lines for high-end customersRestricted Content

January 23, 2006
Matthew Kish
The 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...
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Bike Line, Broad Ripple firm plan Mass Ave purchases: Two sales would be latest in owner-occupant trendRestricted Content

January 16, 2006
Tammy Lieber
Two 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...
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Growing numbers facing 'rich' tax: Alternative minimum tax reaching middle classRestricted Content

January 9, 2006
Scott Olson
The 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...
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Daniels' team shakes up pension fund for teachers: Retirement plan may risk more on private equityRestricted Content

January 9, 2006
Peter Schnitzler
Under 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...
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TOM HARTON Commentary: On defense, Republicans get divisiveRestricted Content

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...
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Big sale finishes hot year: Firm buys 6 office buildings at Keystone at the Crossing; price lags other mega-dealsRestricted Content

December 26, 2005
Tammy Lieber
A 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...
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Marsh puts itself up for sale:Restricted Content

December 26, 2005
-Matthew Kish
Locally 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...
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Hotel proposed for Hamilton County's Strawtown: Site overlaps sensitive American Indian landRestricted Content

December 19, 2005
Matthew Kish
Hamilton 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...
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Duke, Bremner pairing bearing fruit for both companies: Venture surpasses goals with $100 million in projectsRestricted Content

December 19, 2005
Tammy Lieber
A 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,...
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MSA condo interest builds: With sales up, developer hopes to begin site work in JanuaryRestricted Content

December 12, 2005
Tammy Lieber
Two 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...
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BEHIND THE NEWS: Another mark against Marsh: It has big pension shortfallRestricted Content

December 12, 2005
Greg Andrews
As 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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Clarian nabs UAC building: Hospital network wins bid for former corporate headquartersRestricted Content

December 5, 2005
Tom Murphy
Clarian Health Partners is polishing a deal to buy the former Union Acceptance Corp. headquarters on North Shadeland Avenue, a move that plants a large footprint for the burgeoning hospital network squarely in a competitor's east-side back yard. Clarian made the winning bid for the 126,000-square-foot building at a Nov. 15 auction, but the sale had not closed as of Nov. 30, said Bob Getts of Colliers Turley Martin Tucker, which ran the auction. He referred all questions to Clarian....
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Landlords may face big holes: If groceries close, centers would sufferRestricted Content

December 5, 2005
Tammy Lieber
Marsh Supermarkets Inc. serves as an anchor tenant for dozens of central Indiana shopping centers. So if the company or a buyer ends up closing stores, centers across the region could be left with gaping holes. Not only can large vacant spaces in shopping centers make them look blighted. They also reduce customer counts at smaller retailers that feed off grocery store traffic, retail experts say. "People go to the grocery store once or twice or three times in a...
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BULLS & BEARS: Buffett colleague Munger is also a man of wisdomRestricted Content

December 5, 2005
Ken Skarbeck
I am reading the book "Poor Charlie's Almanack," edited by Peter Kaufman. It's mostly a compilation of advice from Charlie Munger, vice chairman of Berkshire Hathaway and chairman of Wesco Financial, which is 80-percent owned by Berkshire. Munger, 81, owns Berkshire Hathaway stock worth $1.6 billion. Like Berkshire Chairman Warren Buffett, Munger hails from Omaha and as a youngster worked at the Buffett and Son grocery owned by Warren's grandfather. The two were reacquainted in the early 1960s and became...
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Under pressure?: Largest outside shareholder could be pushing Marsh to find buyerRestricted Content

December 5, 2005
Matthew Kish
Marsh Supermarkets Inc.'s decision to seek a buyer might not have been made within the company's Indianapolis headquarters. It might have come from 115 miles away in Cincinnati. That's home base for the c o m p a ny 's largest outside shareholder, A m e r i c a n Financial Group Inc., an insurer controlled by the family of billionaire tycoon Carl Lindner. A source knowledgeable about the discussions said AFG, a Marsh shareholder for more than two...
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EYE ON THE PIE: WestClay, prepare for some competitionRestricted Content

December 5, 2005
Morton Marcus
U.S. 20 is one of our lesser-known t r a n s c o n t i n e n t a l highways. It starts at the Boston Commons, about two miles from the Green Monster of Fenway Park. The route then winds west to a few blocks from the Pacific Ocean at Newport, Ore. U.S. 20 runs through Yellowstone National Park in Wyoming and such cities as Albany, N.Y.; Erie, Pa.; Toledo, Ohio; Rockford, Ill.; Sioux City, Iowa;...
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CHRIS KATTERJOHN Commentary: Setting an example for SacramentoRestricted Content

November 28, 2005
"To improve Sacramento, learn from Indianapolis" was the headline of a column in the Nov. 18 Sacramento Business Journal. It's always nice to get a compliment and some good PR. Turns out a delegation of nearly a hundred Sacramentonians-or is it Sacramentites?-were here in October on a three-day study mission to learn how to become a great city. It was the seventh year in a row for them to make a learning visit to another community. Tom Stallard, head of...
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Fledgling Music Mill finding its beat: Venue strikes chord with local concert fansRestricted Content

November 28, 2005
Tammy Lieber
On its opening night late last year, Music Mill started off with a bang. The first concert at the northside venue was the Scissor Sisters, an energetic New York band whose self-titled debut album includes a disco-flavored cover of Pink Floyd's "Comfortably Numb." More than 400 people showed up for the Dec. 15 show. More than half of them were lastminute arrivals who bought their tickets the day of the show. "We got to find out on our first big...
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Industry races to promote itself: Statewide motorsports group hopes to thwart competition from other U.S. marketsRestricted Content

November 28, 2005
Anthony Schoettle
Area motorsports leaders are gearing up for another run at unifying the industry and assuring the region retains its status as one of the world's leading motorsports markets. Organizers of the latest effort promise they won't spin their wheels this time around. They're casting a wider net-going statewide with a motorsports association-to attract more members and build more clout with the media, local and state lawmakers, and service providers, such as banks and insurance companies. The Indiana Motorsports Association Inc....
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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