OCT. 26-NOV. 1, 2009
This week, find out what changes Circle City Classic leaders are considering to return the annual event to its glory days, when attendance hit 60,000. Also, see how the 'recession-proof' insurance industry is faring in hard times. In Small Biz, read about how entrepreneurs are dealing with unpaid bills. And in A&E, etc., check out Lou Harry's take on the Phoenix Theatre's new show.
Front PageBack to Top
Related-party loans pile up at Durham-owned finance firm
Indianapolis businessman Tim Durham has treated Ohio-based Fair Finance Co. almost like a personal bank since buying it seven
years ago, and now he, his partners and related firms owe it more than $168 million, records show.
Opportunists hunt deals in commercial real estate
Just about every player in the real estate business—whether individual investor, private-equity fund or publicly
traded company—is trying to raise capital to take advantage of what they see as an inevitable shakeout in commercial
property.
Gas City dealer offers electric versions of Cadillacs, Hummers
Of all the inappropriate postmarks for the largest distributor of plug-in electric vehicles in Indiana,
Gas City, about an hour north of Indianapolis, takes the prize. But Steve Mitchell, proprietor of Electric Cars
and Carts, figures he’s in the right place as far as business prospects go. Despite a stalled economy, Mitchell’s
electric vehicle sales are up 35 percent over the same month last year.
Top StoriesBack to Top
Circle City Classic must boost attendance, sponsorship revenue to survive
Dramatic decreases in sponsorship and ticket revenue this year and the recent resignation of the Circle City Classic’s
new executive director have some questioning if the event can survive. Now Classic leaders are considering a bevy of bold changes.
Haunted houses avoid recessionary letdown because they offer escape
Even in bad times
people want to be entertained.” Nationwide, roughly 2,000 haunted houses, hayrides and other attractions
rake in $1 billion annually of the $7 billion consumers spend on Halloween, according to St. Louis-based trade group Hauntworld
Inc.
WTHR, WISH in dog fight for 11 p.m. news ratings
The disappointing debut of “The Jay Leno Show” at 10 p.m. on NBC has hammered ratings for the 11 p.m. newscast
of local affiliate WTHR-TV Channel 13, cutting its average audience by nearly half. But the Indianapolis NBC affiliate says
it will rebound in the fight with its CBS rival because the Leno show has fresh programming year around.
First Financial gets sweet deal on Irwin Financial’s bank assets
It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.
Food banks try to stock more fruits and vegetables
Many hunger-relief
charities area trying to get their hands on more fresh produce. It’s not an easy task. Second-rate and leftover fruit and
vegetables abound, but the distribution network is fragmented.
Lilly needs to sell more Effient before Zyprexa loses patent protection
Sales of Eli Lilly and Co.’s newest drug were an afterthought during its Oct. 21 report on third-quarter earnings. The blood thinner Effient totaled up $22.6 million in sales—a mere 0.4 percent of Lilly’s total for
the quarter.
Public transportation entities in Indianapolis region might be reorganized
The Central Indiana Regional Transportation Authority, IndyGo and other Indianapolis-area transit groups are the subject of
a study that could result in them being reorganized.
FocusBack to Top
Indiana insurance industry weathers hard times
Employment in Indiana’s insurance industry has remained stable despite a poor economy.
Read MoreGoodwill executive to lead national health care board
Goodwill Industries executive Keith Reissaus has been tapped to run Washington, D.C.-based Leapfrog Group, an industry coalition.
Reissaus gained control of health care costs by giving employees incentives to care about their health.
OpinionBack to Top
EDITORIAL: State can’t rely on gambling revenue
State and, to some extent, local government
has come to rely on gambling revenue. And now that neighboring states are launching a competitive
assault on Indiana casinos, it’s time to get back to the original intent before the revenue shrivels and leaves necessary
government services high and dry.
KATTERJOHN: Get out and vote for Wishard
You know, there’s an election on Nov. 3, right? We’re not voting for president, governor,
mayor, or even dog catcher. We’re voting for a critical piece of the health care delivery system in central Indiana: whether to allow Marion County
Health & Hospital Corp. to sell bonds to build a new Wishard Hospital.
MARCUS: Today’s data tell yesterday’s story
Most economists are of the opinion that we have seen the bottom of the recession and are in recovery mode. However, the
evidence is scarce to support that position.
JOSEPH: Will new rules end blog pay for play?
This month, the Federal Trade Commission announced new rules
aimed at increasing transparency in social media advertising. Starting Dec. 1, bloggers and other users of social media tools,
such as Twitter and Facebook, must disclose if they have received any type of payment in exchange for promotion, advertising
or endorsement.
ALTOM: Why can’t we use cell phones on a plane?
Who among us hasn’t pondered life’s great questions? Why are we here? Why aren’t we somewhere else? Why
do some people never learn how to parallel park? And perhaps most mysterious of all—is it true that operating
electronic devices on an airplane may cause it to go out of control and crash? Perhaps surprisingly, the answer is that nobody
really knows.
HICKS: Non-market valuation is an important planning tool
One of the more intriguing things economists are called upon to do is what is known as non-market valuation. This is a process for estimating a â??priceâ?? of something that isnâ??t typically bought or sold.
Read MoreHAUKE: Sinking of dark pools may have consequences
If I were working with the SEC, I would exercise some caution before issuing new regulations about these dark pools.
Read MoreAbandoned houses should be torn down
[In response to the Oct. 19 viewpoint] Some of [Kurt] Wiegand’s points were spot-on, but his analysis of the economic
impact regarding Mayor Ballard’s plan to demolish abandoned homes misses the mark by a wide margin.
In BriefBack to Top
Ousted Indianapolis Symphony Orchestra conductor Venzago finally speaks out
Venzago said the abrupt dismissal has affected his ability to work this season, and that he received
an outpouring of sympathy from Indianapolis and the classical music world.
Ball State to offer new degree at downtown Indianapolis campus
The master of urban planning degree offered downtown will use the city as an urban laboratory.
Read MoreNew not-for-profit coffee shop in Fletcher Place will raise money for charities
The new coffee shop named for Calvin Fletcher, one of the city’s first lawyers, will give money to groups such as Second Helpings.
Read MoreGregory & Appel celebrates anniversary by writing 125 checks to charity
The awards of $500 each total $62,500. “In lieu of doing a party, it was more
appropriate and more the corporate culture of Gregory & Appel to do something charitable,”
Vice President Steve Appel said.
Cook Group Inc. owner says health reform’s tax on medical devices could kill jobs
Bloomington-based Cook Group Inc. might have to cut as many as 1,000 local jobs if Congress enacts a tax on medical devices
to pay for health care reform, company founder Bill Cook said in an interview.
Indianapolis-based FAST Diagnostics gets funding from BioCrossroads’ seed fund
Money will help the company refine its tool to treat acute kidney injury.
Read MoreNFP of NOTE: NPower Indiana
NPower Indiana’s mission is to provide reduced-cost technology consulting and training to not-for-profits throughout
Indiana.