Real Estate & Retail

Ex-Winona owner under fire: Leland Medical Centers CEO faces fraud accusations, questions about his own bankruptcyRestricted Content

February 13, 2006
Tom Murphy
Accusations of fraud and other misconduct are piling up against the former owner of Winona Memorial Hospital. Two companies recently joined Winona's creditors in questioning money transfers made by Texasbased Leland Medical Centers Inc., which owned the nowdefunct Indianapolis hospital from 2002 until a short time before it closed in 2004. Meanwhile, lawyers sorting through the liquidation of Winona still have no explanation for why Leland took $3.6 million from the struggling Indianapolis hospital before it slid into bankruptcy and...
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CHRIS KATTERJOHN The case of the missing passport Commentary:Restricted Content

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...
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Compensation takes stage in state leasing contracts: Meridian Asset, Resource to cap fees on state leasesRestricted Content

February 6, 2006
Tammy Lieber
New 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...
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ABDUL-HAKIM SHABAZZ: Indy Works, part deux (the sequel)Restricted Content

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...
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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 30, 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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SPORTS: Crazy-with-grief Colts fans, you're now on the airRestricted Content

January 30, 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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Appliance biz heads north: Clark to open Castleton store, compete with H.H. Gregg Fine Lines for high-end customersRestricted Content

January 30, 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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Busy year, but no record: A Wellpoint deal leads list for second year in row, but 2005 lacks blockbusterRestricted Content

January 30, 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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BEHIND THE NEWS: Call puts Smulyan on spot; fellow execs know feelingRestricted Content

January 30, 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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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....
More

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...
More

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...
More

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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  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

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  3. If she was worth the $ the public outcry over direct tv dropping them would have kept them on their dishes as we have seen with other companies. I too quit watching channel 13 after she showed up since I left channel 8 because of her all show rather than production results. When Randy on 8 corrected her she had a big head and incorrectly challenged his correction for pronunciation of a city. Other antics while she matures was too much for me with her very inaccurate forecasts. All the forecasters were predicting rain until Thursday except Chris. They predicted sunny on Thursday but instead of rain until Thursday upon which the sun would finally make it out in full glory Chris was right on the money just as I too predicted looking at the radar on weather.gov. One thing I love about Angela is the fear you can see in her every time it thunders in the winter. It far exceeds the entertainment value of her body language (high heel noise drags, depression, etc) when her forecasts are so incorrect. Her hair stands on end, you have to see it!!!

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