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Retail
BEHIND THE NEWS: Smooth sailing for Simon, despite economic squall?
November 5, 2007
Greg AndrewsRetail pundits are trotting out all the downbeat analogies these days, as they fret that high gas prices and the slumping
housing market will crimp consumer spending the rest of the year. As Carl Steidtmann, chief economist at Deloitte Research,
put it, "The holiday season will be somewhat Grinch-like." So it may come as a surprise that some analysts are almost gushing
about the prospects for Simon Property Group Inc., the nation's largest mall owner. As Rich Moore, managing director...
MoreECONOMIC ANALYSIS: Evaluate today before gauging effects of tax proposal
October 29, 2007
Mike HicksGov. Mitch Daniels unveiled a tax proposal Oct. 23 designed to remedy a number of widely held concerns over property taxes
in the state. In a nutshell, his proposal reduces property tax collections by one-third and generates additional revenue by
increasing the general sales tax 1 percentage point. His plan offers a three-tiered property tax rate-1 percent residential,
2 percent rental and 3 percent commercial-and moves taxation (and perhaps budgetary decision making) from the township to
the county level. It...
MoreVIEWPOINT: Corporate transactions: lose-lose deals
October 29, 2007
John GuyCorporate transactions, such as the sales of Peoples Bank and First Indiana Bank, as well as mergers of utility companies,
benefit no one. For example: Retail customers: No evidence exists that consumers benefit from these transactions. Companies
might argue that fees and prices rise more slowly in larger organizations, a result of efficiencies, but no proof is available,
and the principle of diminishing returns suggests that, at some point, the cost of running a large entity becomes proportionately
greater than...
MoreRETURN ON TECHNOLOGY: Is your Web site a cost or an investment?
October 29, 2007
Tim AltomI don't particularly like to shop, but I like seeing how other people shop, especially online. There are always so many surprises.
Of course, the big research is in e-commerce, where buyers spend money online. Studies show the number of people willing to
buy online is growing steadily. The Census Bureau shows a consistently upward trendline through August 2007 (www.census.gov/mrts/www/ecomm.html).
Most experts seem to believe that not only are more people throwing down their plastic electronically, but established shoppers
are...
MoreBusinesses may swallow Daniels' property tax plan despite initial grumbles about its implications:
October 29, 2007
-Peter SchnitzlerBusinesses are upset about the implications of Gov. Mitch Daniels' plan to reform Indiana's property tax system. And while
they would certainly bear blows, executives may be discounting one of the proposal's subtlest selling points: permanent tax
stability. "I don't know if it's too high or too low. But I do know that it's locked in stone. And businesses love predictability,"
said Matt Will, associate dean of the University of Indianapolis School of Business and director of its Graduate Business...
MoreBank's plans unclear after LaSalle buy: Bank of America unlikely to grow local retail biz, but lending office should stay,
industry observers say
October 29, 2007
Scott OlsonBut here in Indianapolis, where LaSalle's lone location is a downtown commercial lending office, banking observers don't expect
Bank of America retail outlets to follow. "I don't think [Indianapolis] will be a primary focus, at least not in the near
term," said Tom Kersting, an Edward Jones analyst in St. Louis who follows the bank. "Their main purpose in making the purchase
was getting the Chicago presence. That was the last major market they were lacking." Even so, observers say...
MoreWestfield on verge of development boom: At least four major projects in works in growing town
October 22, 2007
Cory SchoutenIn the top drawer of an old desk in the basement of Westfield Town Hall, there is a small steno-style notebook filled with
fraying, hand-written pages. It's where town planners kept track of building permits for more than a decade starting in the
1960s. This was a tiny town then, where most people knew all their neighbors and permits were organized by last names. Westfield
is a lot different today. New developments are appearing all over the growing town, which...
MoreVOICES FROM THE INDUSTRY: Everybody's busy playing the real estate blame game
October 22, 2007
Brian MannThere's a game that takes place in most families with young children. You may be familiar with it. It's easy. Mom's cherished
(insert any household item here) develops a large chip. Mom sees the chip. Mom begins the interrogation: Who did this? "Not
me," says Johnny. and Wall Street. After all, they're the ones that loaned the money. It was too easy to get a loan, the critics
say. People were buying homes and building developments with high-priced coffee shops...
More'Aggressive moves' feed Flaherty & Collins' growth: Local apartment developer gaining national foothold
October 22, 2007
Cory SchoutenDavid Flaherty and Jerry Collins left comfortable vice president gigs at a local real estate firm to strike out on their own
in 1993. Roughly two years passed before the two former Revel Cos. executives received another paycheck. But the gamble eventually
paid off handsomely. Indianapolis-based Flaherty & Collins Properties has become a nationwide player in apartment housing,
with a staff of 412, a development pipeline of $500 million, and more than 13,500 apartment units under management. Flaherty
and Collins...
MoreDunkin' Donuts' expansion plans may create coffee clash: Chain could put damper on Starbucks' local growth
October 22, 2007
Scott OlsonThe return of Dunkin' Donuts to the metropolitan area last month gave java lovers here their first whiff of a brewing coffee
war. The Boston-area-based chain's Carmel location is one of 80 franchised stores slated to open within the next eight years.
Its re-entry into the market is part of a national campaign to more than double the number of its 6,000 locations by reinventing
itself to challenge Seattle's Starbucks. Dunkin' Donuts is rolling out concept stores with hipper furniture...
MoreLatest bank merger brings more change at the top:
October 15, 2007
The late Tom Miller, the legendary Indianapolis banker, didn't sugarcoat the truth when he decided to retire in 1994, about
a year after selling local powerhouse INB Financial Corp. to Detroit-based NBD Bancorp. "I'm not accustomed to saying, 'May
I?'" he said at the time, explaining the awkward transition from running his own bank to answering to an out-of-state owner.
That mind-set helps explain why the days of the imperial bank CEO are long over in Indianapolis. Until the succession...
MoreHeartland's push for national attention is working: But local film organization's endorsements still have a 'family-friendly'
feel
October 15, 2007
Jennifer WhitsonSince 1991, the Heartland Film Festival has brought uplifting independent films to Indianapolis every year, building a reputation
with time and an impressive $100,000 grand prize for the best feature. Then two years ago, it decided to aim a little higher.
With help from a $3.7 million grant from the Lilly Endowment Inc., the Indianapolis organization set out to make its brand
so well-known to consumers that a Heartland award would be the equivalent of the Good Housekeeping seal of...
MoreExperts look into the future of health care: Industry panelists disagree on whether current system needs radical changes
October 15, 2007
Five local industry leaders conducted a serious debate over problems and issues facing our health care system during the most
recent installment in Indianapolis Business Journal's Power Breakfast series. The event took place at the Downtown Marriott
hotel on Sept. 21 The panelists: Robert Brody, president and CEO of St. Francis Hospital & Health Centers, the Indianapolis-area's
fourth-largest hospital system. Brody has been chief executive at St. Francis since 1996. Dr. Robert Mouser, a primary care
physician at Cornerstone Family...
MoreWellness working for Goodwill workers: Despite high turnover rates, program cuts costs
October 8, 2007
J.K. WallWhy pay to get employees healthy if they're likely to leave in a few years? That used to be the killer question for wellness
and disease management programs. But that attitude is changing. And employers like Goodwill Industries of Central Indiana
are a good example of why. The not-for-profit, whose main mission is to help workers make a transition into other jobs, has
enjoyed significant savings on health care costs even as it has ditched the employee-paid deductible on its...
MorePROFILE: Posh Petals Inc.: Florist's business is blooming Ample competition hasn't kept Posh Petals from growing
October 8, 2007
Tammy LieberPosh Petals Inc. Florist's business is blooming Ample competition hasn't kept Posh Petals from growing In just more than three
years, Erika White and Meredith Moynahan have moved from employees of someone else's flower shop to owners of a fast-growing
retail florist with a reputation for unusual arrangements. Posh Petals Inc. opened its doors in July 2004, just a few months
after the friends and co-workers, both 32, first discussed opening their own place. "It happened really fast," White recalled....
MoreEYE ON THE PIE: Good news about Indiana economy
October 1, 2007
Morton MarcusWhat do most people concerned with economic development want to see? More jobs at better pay. How can we tell if we are getting
there? Simply by looking at what is happening to earnings. Earnings divided by the number of jobs equals average earnings
per job. Hence, with elementary school arithmetic, we can say that earnings equals the number of jobs multiplied by the average
earning per job, exactly the two indicators of economic development that most folks want to...
MoreCommentary: Here's the skinny on why we're fat
October 1, 2007
Tom HartonA week rarely passes without news of our obesity epidemic. Fattest-state rankings and the like are a staple of our news diet.
These stories are often served with dire health warnings, which politicians invoke when they encourage us to eat less and
exercise more. But does anyone really stop to think about why obesity has become our national obsession? Our infamous rotundness
isn't only a byproduct of poor eating habits and a reluctance to hit the gym. Chalk some of...
MoreSize matters to Greenwalt: After cutting ties to construction firm, developer focuses on small projects
September 24, 2007
Jennifer WhitsonGreenfield was up to about $150 million in sales by 2000, when the Greenwalt family sold its commercial construction firm.
Founder Max Greenwalt then went to work with his sons Jeff and Lynn at the development company. About the same time, Greenwalt
Development tweaked its mission to focus on senior-living communities and medical office projects-scaling back the size of
the firm in the process. The leaner company now has $15 million in annual revenue and nearly $14 million in projects...
MoreNavigating the credit crunch: Will subprime woes leave you dry? Here's what to look for.
September 24, 2007
Scott OlsonFor months, we've been reading and hearing news about the so-called subprime mortgage crisis and the resulting "credit crunch."
For thousands of families who have lost their homes to foreclosure, the crisis is clear. For most people, however, the impact
isn't so obvious. Beyond those directly affected by mortgage defaults, who else should be concerned about the aftershocks?
Some economic forecasters are warning that the subprime mortgage situation and the ongoing weakness in the housing market
could linger long enough...
MoreECONOMIC ANALYSIS: How Wal-Mart fulfills the promise of its new slogan
September 24, 2007
Mike HicksEconomists usually don't follow marketing slogans, but Wal-Mart's shift from its "Always Low Prices" slogan to "Save Money,
Live Better" caught my eye. The slogan is based on a study by the national consultancy firm Global Insight. During a 2005
conference on Wal-Mart, Global Insight's economists released a study showing the average American family saved a little more
than $2,300 annually by shopping at Wal-Mart. The current marketing campaign uses updated estimates of Wal-Mart's savings
at about $2,500 per year...
MoreFiercely private developer built strip-center empire
September 24, 2007
Cory SchoutenSid Eskenazi fell in love with the board game Monopoly as a child. Buying and developing make-believe properties with make-believe
money inspired the grade-schooler. And he was good at it. So several years later, Eskenazi began playing what he likes to
call "adult Monopoly." He bought one property at a time with real money.
MoreHHGregg's debut bruising, but analysts see lots to like:
September 24, 2007
HHGregg Inc. didn't pick the most serene of times to go public, and the company's stock price since its July 19 initial public
offering shows it. The shares are trading around $11.25, off 13 percent since their $13-a-share debut. The performance is
even weaker if you consider that HHGregg ratcheted down the offering price at the last minute. It had hoped to sell shares
in the IPO at $15 to $17 apiece. But if you buy into the company's sales...
MoreFUNNY BUSINESS: Newsflash to Christmas marketers: It's still summer
September 17, 2007
Mike RedmondFour days after Labor Day, the first Christmas catalog showed up in my mailbox. Four. Days. After. Labor. Day. Sometimes,
all you can do is shake your head. Now, don't get me wrong. I love Christmas. I start looking forward to Christmas every Dec.
26. I am a bona fide, certified Yuletide nut. That does not, however, mean I wish to "get a jump" on my Christmas shopping,
as the catalog advised. Jump? JUMP? This isn't a jump. This is...
MoreOptions sparse for Finish Line as dubious deal nears close:
September 17, 2007
Finish Line Inc. officials are mum these days, but you can be sure they're exploring every option they can imagine to avoid
closing on the acquisition of Tennessee-based Genesco Inc., at least at the $1.5 billion price they'd agreed to pay. Trouble
is, they may not have an out, said John Shanley, an analyst with Susquehanna International Group LLP in New York City. "As
far as we can determine, the deal they signed with Genesco is pretty ironclad," Shanley said....
MoreHeart or head?: Intellect, emotions play role in most biz-location decisions
September 17, 2007
Sam StallIthe process of f n theory, retail, office or industrial location as should putting be as rational and unemotional reality,
emotions together a spreadsheet. But in as hard data. can carry just as much weight "People use very sophisticated uildings
processes , but in and evaluations to compare b ," s as much of an art as a science the end, it' . Smith, CEO eteran Samuel
F said industry v Commercial of Indianapolis-based Resource aspect of it Real Estate...
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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!