MAY 24-30, 2010
This week, see why Habitat for Humanity officials are concerned about an uptick in home foreclosures and read about what real estate executives hope to learn in Las Vegas this month. In Focus, find out the pain small banks could experience as a results of new collateral rules for state deposits. And in A&E, see what Lou Harry thinks of Fat Dan's Deli in Broad Ripple.
Front PageBack to Top
Soft Landing: Pay slipped for most execs in 2009, but cuts weren’t deep
Top executives at Indiana's public companies have largely been insulated from the economic crash. IBJ's
review of executive pay found that, although 131 of the 238 executives listed in proxy statements the past two years saw annual
compensation fall in 2009, only 10 experienced cuts of more than $1 million.
Sweeping new rules await Indy 500, insiders predict
An overhaul of the Indianapolis 500 and Indy Racing League, possibly as soon as 2012, could take the legendary race back to
its roots as a bellwether of automotive innovation. Engine and chassis rules for the 500 might be greatly loosened, encouraging
the kind of technological innovation that made the race famous.
Top StoriesBack to Top
Habitat foreclosures on rise
So far this year, Habitat for Humanity of Greater Indianapolis has filed six foreclosure suits, more than in any of the past
five years. The organization also repossessed four houses as a result of the prior year’s foreclosures. In a typical year,
CEO Dean Illingworth said, Indy Habitat takes back one or two houses, so the recent uptick is troubling.
Bowen Technovation brings educational centers to life
Bowen Technovation has assembled an eclectic group of electrical engineers, journeyman machinists and artists to design exhibits
for museums, science centers and planetariums. Computer systems analysts and audio and lighting experts are also part of the
mix.
Optiform customizes software to improve capture and management of data
The 12-person firm led by CEO Scott McLaughlin recently “graduated” from five years at the Indiana University Emerging Technologies Center
and finished a profitable year.
Big stock run-up puts pressure on HHGregg to deliver
High expectations already are baked into HHGregg Inc.’s stock price, which has doubled since last May. A disappointment could
spawn a sell-off.
Upcoming ICSC convention will offer insight into growth plans for retailers
Retailers are feeling pangs of optimism at an opportune time for the developers and real estate brokers who rely on them
for survival: The year’s biggest retail real estate gathering is May 23-25 in Las Vegas.
Arts Council hopes move, emphasis on donors will help with finances
The Arts Council of Indianapolis soon will move its office from Monument Circle to a smaller space on Pennsylvania
Street with an adjacent gallery. The move is symbolic of the council’s ongoing reinvention, as well as the financial
reality driving that effort.
AARP backs retirees in court fight over IPL benefits plan
The AARP says IPL "perverted" a promise to its retirees regarding post-retirement benefits. The retirees have appealed their case to the Indiana Supreme Court.
Read MoreFocusBack to Top
New collateral rules for Indiana deposits may favor big banks
New state rules designed to protect government cash from bank failures might have an unintended consequence: helping the biggest
banks and hurting the smallest.
New Indiana law aims to promote safety of traditional loans
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
KULT: Mortgage loan officers punch the clock under new rule
The government now views loan officers more like factory workers than white-collar business managers.
Read MoreOpinionBack to Top
EDITORIAL: Business strength benefits city
The recession is dragging on, unemployment remains above 9 percent, and Lilly is chopping its way through 5,500 layoffs.
Business bummers abound. But it’s not all bad news.
KING: News in the age of instant feedback
Most IBJ editors and bloggers now can access readership stats for every bit of news content on our website. We know
how many times each story, blog and video has been viewed and for how long, for any month, week or day.
MARCUS: Knowledge economy is not new
Few matters in life are clear and definitive. Sadly, we grow up learning that all can
or should be reduced (or elevated) to mathematical modeling. We have no courses or TV channels specializing in ambiguity,
no college major in uncertainty.
BURNEY: Keep drive for high-ability education
In 2007, the Indiana General Assembly unanimously put into place the requirement for all Indiana schools to identify students
with advanced potential from all groups and provide them with appropriate curriculum and instruction needed to develop their
potential.
ALTOM: Is your computer being commandeered under your nose?
Around the world, tens of millions
of computers are infected with sly viruses that invisibly take over a machine, letting it continue working but redirecting
part of its time to doing nefarious things, like storing ill-gotten data or sending out spam ads for improbable enlargements
of body parts.
HICKS: State lucky to have community foundations
A good community foundation knows when there is an unmet need. After faith-based organizations, nobody is closer to understanding immediate needs better than a strong community foundation.
Read MoreHAUKE: Uncertain conditions create opportunities
U.S. markets look like they have at least one more rally on the way at some point in the next few months.
Read MoreSchool districts take different paths
Two Indianapolis-area school districts have taken different routes to dealing with large budget shortfalls in the wake of
significant cuts to state education funding. The results speak volumes about the priorities of their local teachers’
unions.
In BriefBack to Top
Evans: Health care real estate is evolving
If Clarian Health CEO Dan Evans were investing in health care real estate, he’d make bets in three new things: smaller,
denser clinics with lots of computer equipment to do telemedicine; medical office buildings populated by physician assistants;
and nursing homes with a strong relationship with a hospital.
ER doc is affable WellPoint activist
Dr. Rob Stone wants the giant health insurer to convert to not-for-profit status and put him, an advocate of national health
insurance, on the company’s board.
Timmy Foundation to absorb doctor’s Nigerian mission
The foundation, founded by Dr. Chuck Dietzen, will absorb the Mercy Foundation, started by Dr. Mercy Obeime, in July.
Read MoreNew monthly event aims to recruit downtown residents
Indianapolis Downtown Inc. is launching a new monthly event to encourage more people to live downtown just as real estate
brokers say interest in available homes is picking up.
Dora Hotels takes over management of DePauw’s Walden Inn
Dora operates more than 20 hotels, including five in downtown Indianapolis and two adjacent to Indianapolis International
Airport.
Business groups bless Mayor Ballard’s utility sale plan
Greater Indianapolis Chamber of Commerce and Builders Association of Greater Indianapolis support sale of water, sewer utilities.
Read MoreNFP of NOTE: Gleaners Food Bank of Indiana
Gleaners Food Bank of Indiana seeks to end hunger by engaging individuals and communities to provide food for people in need.
Read More