JUNE 28-JULY 4, 2010
This week, find out the latest in the Fair Finance bankruptcy case and see how the city is doing at meeting Mayor Greg Ballard's mandate to do more business with veterans. In Focus, read about Buckingham Cos.' ambitious redevelopment project proposed for a downtown parking lot. And in A&E, Lou Harry shares 100 thoughts on the Indianapolis Museum of Art's new 100 Acres art and nature park.
Front PageBack to Top
City eyes Central State site for sports complex
Indianapolis officials are exploring turning the former Central State Hospital into a 150-acre sports complex that could include
facilities for everything from soccer and baseball to tennis and ice skating.
Subcontractors come to Estridge’s aid with $10M investment
Estridge Cos.’ subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an
infusion that paves the way for them to proceed with
a massive development in Westfield.
Plug-in car startup breaks all the rules
Wabash-based ClearFlex Automotive is using off-the-shelf technology to design a 2010 Ford Focus plug-in electric vehicle,
powered entirely by lead acid batteries. The company is gearing up for initial production of up to three vehicles a day.
Top StoriesBack to Top
Electric rates likely to rise with cost of Duke coal plant
Pressure is building on Duke Energy to contain costs of its controversial Edwardsport generating plant in southwestern Indiana,
following the company’s recent disclosure that the price tag will soar by $530 million—likely boosting average
rates in Indiana by 3 percent.
IMA searching for executive to lead big capital campaign
The Indianapolis Museum of Art is gearing up for a major campaign and will create a senior management position in fundraising.
CEO Maxwell Anderson said the national search for a “chief development officer” coincides with strategic planning
that will result in a capital campaign for a still-unspecified amount.
City still working on mayor’s mandate to do more biz with veterans
Mayor Greg Ballard,a former Marine, has made some progress in the two years since he pledged his administration would purchase
3 percent of all city goods and services from veteran-owned businesses, but he remains far from his goal.
Durham willingly turning over assets in Fair bankruptcy
Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
BP disaster casts shadow over Hoosier enterprises
BP franchisee Ricker Oil and Conner Prairie, whose balloon ride is emblazoned with the company logo, find themselves awkwardly
linked to the disastrous Gulf oil spill.
illainous image.Read More
Hoosier firms that rely on innovation pine for patent reform
One key change would grant patents to the first inventor to file an application, not the first who can prove to have made
the invention first.
Hospital jobs keep growing in recession
Hospitals continued to be a stable and slightly growing source of jobs and wages in Indiana—for better and for worse.
The sector paid $7.3 billion to 127,000 Hoosiers in 2008, according to the latest data from the American Hospital Association.
Lilly layoffs pare communications department
The giant drugmaker is in the process of trimming 35 percent—or about 19 people—from its 55-person communications
staff. Most of that staff is based in Indianapolis.
FocusBack to Top
Buckingham thinks big with plans for downtown development
Will the latest ambitious downtown development proposal finally master the formula for transforming a downtown surface parking
Potterhill Homes enters Indianapolis market
A Cincinnati-based homebuilder’s expansion into Indianapolis marks the second time in six months a builder from the
Queen City has carved out space in the metropolitan area.
RUBENSTEIN: New law may put limits on residential seller financing
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.Read More
PNC foreclosing on Janus Lofts building
Pittsburgh-based PNC Bank has filed to foreclose on the historic five-story Janus Lofts building at 240 S. Meridian St.Read More
OpinionBack to Top
EDITORIAL: Circle Centre worth watching
City government brought Circle Centre into this world. It makes sense, then, that city government is involved in positioning
it for the future.
MAURER: Exercise your creative muscle
Creativity, like muscle tone, must be exercised if one is to increase it. We need to seize opportunities to think creatively. Challenging riddles like the one above interrupt the normal routine and rev up our brains.Read More
MARCUS: Fed programs get credit for improvements
The federal government pumped $6.3 billion into the Indiana economy through higher unemployment compensation and increased
Social Security and Medicare payments.
SLAUGHTER: Do you let the telephone control you?
The telephone has incredible
value. It’s also among the most effective ways to destroy productivity.
HICKS: Roots of recession found in homes, stocks
When the Business Cycle Dating Committee of the National Bureau of Economic Research meets later this year or next, I believe
they’ll say the recession hit bottom in June or July of 2009. Recessions end when the economy bottoms out.
SKARBECK: Even investment stars have losing periods
Most investors have heard the cautionary statement “past
performance is not indicative of future results.” This oft-repeated caveat reveals its truth time and again in the investment
Indiana municipal bonds are faring well
The “Investing” column of June 14, “Municipal bond defaults might be next crisis,” raises some valid
points, but portrays municipal bonds in such a manner that is too general.
In BriefBack to Top
MainGate seals deal with Tennessee Titans
ndianapolis-based MainGate Inc. signed a four-year deal with the Tennessee Titans to handle online and retail merchandising
services for the National Football League franchise.
Not-for-profit pay survey launched online
Seeing a lack of timely, accurate information about pay and benefits at local not-for-profits, two consultants have launched
an online compensation survey.
Children’s Museum, Eiteljorg refresh images
The Children’s Museum of Indianapolis launched a new logo and rebranding initiative this summer. And the Eiteljorg Museum of American Indians and Western Art wants to polish its image.Read More
Moody’s upgrades outlook for U.S. gambling industry
It may take some time to trickle down to Indiana, but the American gambling industry is starting to show early signs of recovery.Read More
IU, WellPoint make magazine’s best tech workplace list
Indiana University and WellPoint Inc. were the only Indiana employers to land in Computerworld magazine’s top 100 rankings as
one of the “Best Places to Work in IT.”.
Flea market to take over south-side bowling alley
City Flea Market has filed plans to take 15,000
square feet in the former Sport Bowl, a south-side institution for 67 years that closed in May 2008.
‘Blasphemer’ to address TechPoint Innovation Summit
pundit Nicholas Carr is a great thinker, or a demon, depending on one’s view.
PROXY CORNER: Cummins Inc.
Cummins Inc. designs and manufactures diesel engines for automotive and industrial markets.Read More