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New owner brings hope for Eastgate property: Demolition would pave way for redevelopment

April 11, 2005

Every end is a beginning, the proverb goes. Accordingly, the probable demolition of nearly vacant Eastgate Mall by new owners JTL Capital LLC isn’t causing much heartbreak among city officials and east-side residents. “I was thrilled to hear they plan to demolish [Eastgate],” said Ruth Ann Walker, a member of the Warren Township Development Commission. “It opens that parcel up for bigger and better things.” What that might be isn’t yet clear, and Dallas-based JTL so far has divulged little…

Chicago Express is not only asset ATA Holdings to jettison: More than $1.7 million for Boeing 727s won’t land in ATA’s pocket

March 28, 2005

As ATA Holdings Corp. prepares to ditch its Chicago Express commuter line after a tiresome series of low-ball bids, another batch of its aircraft about to be sold won’t fetch much attention-or even a dime-for the Indianapolis carrier. Up to seven of ATA’s former Boeing 727s and as many as 20 engines for the tri-engine aircraft are to be sold by early April for at least $1.7 million, according to documents filed by ATA earlier this month in U.S. District…

Charter One Bank plans Indiana growth: Acquisition allows new owner to leverage 60 branches

March 21, 2005

Two and a half years ago, Charter One Bank had nary a single Indiana branch. Since then, it’s quietly built 60. Charter One is preparing an all-out assault on the Indiana bank market. Under the leadership of its new Indiana president and CEO, Norman S. Hatch, the bank plans to add 10 branches in 2005 and increase its Indiana head count from 400 to 500 employees. Hatch, who took charge Jan. 2, had been vice president of middle-market banking for…

Lilly faction seeks split of exec roles: Shareholder group wants to separate chair, CEO jobs

March 21, 2005

The shareholders think Lilly should separate its chairman and CEO roles. Sidney Taurel currently holds both jobs and the title of president. The group wants an independent chairman. It’s one of six shareholder proposals on the agenda for Lilly’s April 18 annual meeting at its headquarters. The move would address “a leadership crisis at our company” created by the lack of access to affordable medicines, according to the proposal listed in Lilly’s recently filed proxy statement. Lilly’s board disagrees and…

Builders try retail approach: Estridge, Davis plan north-side home stores

March 7, 2005

Two locally based home builders are staking out retail storefronts in a bid to reach out to customers who might want to buy a new home while they’re picking up a gallon of milk or a pair of shoes. Carmel-based Estridge Cos. plans to open its HomeExperience store in Clay Terrace in late spring or early summer, while Indianapolis-based Davis Homes LLC in late April will move its showroom into a Krogeranchored shopping center at 96th and Meridian streets. For…

Republic Airways ponders employee concessions: But union complains about ‘disingenuous’ memo

March 7, 2005

A memo by Republic Airways warns of the need for employee concessions if ailing partner U.S. Airways ceases operations, Teamsters officials said. The union representing 1,000 cockpit crew members and 600 flight attendants at Republic’s Chautauqua Airlines unit has found itself-not the Indianapolis company-on the defensive, however. Union leaders are wrinkled at what they say is a disingenuous memo Republic CEO Bryan Bedford sent to workers about seven weeks ago, alleging that the union has withheld information from pilots and…

Villaggio condos aim high: Proposed eight-story project targets downtown’s SE side

February 28, 2005

A developer with deep roots in the Fletcher Place neighborhood is setting its sights on an ambitious eight-story condominium project on the southeast side of downtown. Villaggio at Page Pointe calls for 65 condos ranging in size from 1,600 square feet to 4,300 square feet. Most units will sell for $265,000 to $530,000, with three penthouse units listed for more than $900,000. The first floor of the building will house about 20,000 square feet of retail space. A parking garage…

Mann seeks larger digs as growth strategy pays off: Busy developer eyes property for new headquarters

February 21, 2005

On Bash Street, off the beaten path from often-congested East 82nd Street, Mann Properties has quietly built a commercial real estate development business that is outgrowing its cozy quarters. The location in the developer’s secondoldest office park has served Mann well since the mid-1980s. But flanked on both sides by other companies, the space offers virtually no chance to expand, let alone any opportunity for increased visibility. So Managing Partner Brian Mann, 37, has brokered a deal to purchase 20…

Eminent domain facing legal challenges: Supreme Court, Indiana legislature consider changes to economic development tool some say is unfairly used

February 21, 2005

The tool of eminent domain, increasingly used for redevelopment projects in Indiana cities and towns, could change significantly depending on the outcome of a U.S. Supreme Court case and a bill before the Indiana General Assembly. In Indianapolis, city officials are closely watching the cases and legislation. In recent years, construction of WellPoint Inc.’s operations center, redevelopment of the Link-Savoy and Blacherne apartment buildings, and Fall Creek Place have all involved eminent domain. Officials have also indicated they may use…

Oak Street tables plans: Fast-growing mortgage firm postpones IPO

February 14, 2005

Oak Street Financial Services Inc., the fast-growing Carmelbased mortgage seller, has called off its initial public offering. “We still feel we’re in a growth phase,” said Oak Street spokesman Joe Poulos. “But some things have been scaled back, such as the IPO.” Oak Street filed initial IPO paperwork with the Securities and Exchange Commission last April, outlining plans to raise up to $150 million from investors. But SEC documents show Oak Street withdrew its registration request Feb. 1 One of…

Mission: possible: Financial crisis averted, but work remains

February 14, 2005

Humane Society of Indianapolis saved itself in 2004. Poised on the brink of financial disaster, agency leaders came up with a deceptively simple recovery plan: Spend less, raise more and borrow some to make up the difference. So far, so good. Expenses last year came in about a half-percent under budget, fund-raising revenue was up 37 percent, and the shelter didn’t use as much credit as expected. Then there was the real victory-nearly 53 percent of the 8,985 animals that…

Special Report: MURKY MISSION: Vague directive dilutes 21st Century Fund’s high-tech impact

February 7, 2005

When directors of Indiana’s 21st Century Research and Technology Fund convened in May 2003, they’d already doled out $70 million in state grants over three years to fund h i g h – t e c h innovation a n d w e r e preparing to u n l e a s h another $60 million. But you wouldn’t know it after reading minutes from that meeting. They show a rollicking debate broke out over the 21st Century’s Fund’s…

SUSAN WILLIAMS Commentary: Don’t overlook Benjamin Harrison Home

February 7, 2005

SUSAN WILLIAMS Commentary Don’t overlook Benjamin Harrison Home Here’s a thought: Celebrate President’s Day (Feb. 21) at the President Benjamin Harrison Home. Let re-enactors take you back to the era of the only president elected from Indiana. Benjamin Harrison built his three-story Italianate Victorian home at 1230 N. Delaware St. in 1875 and lived there until his death in 1901, with a four-year interruption when he moved to Washington, D.C., to serve as the 23rd president of the United States….

EYE ON THE PIE: Income tax surcharge to hit only 1 in 20

January 31, 2005

Gov. Mitch Daniels in his Jan. 18 State of the State address called for many changes. He sought to put aside partisan differences and private calls for privilege. Immediately he was abandoned by many in his own party. The idea that drew the most attention was the governor’s request for a one-year, 1-percent surcharge in taxes on those with income above $100,000. There might be some confusion about what the governor meant. Are we going to tax that part of…

VIEWPOINT: We stand on the shoulders of black business giants

January 24, 2005

In a recent conversation with a family member regarding the lack of African-American businesses in the high technology, life sciences and larger manufacturing arenas, I began to wonder, “What are the barriers that prevent African-Americans from entering business? Are conditions worse now than in the past when we seemed to have greater representation in these areas?” Some will say it is the lack of access to capital. Some will point to the continued aura of racism and prejudice, while still…

Stadium’s pathway not clear: CIB must make land deals with Comfort Inn, Hurst Co.

January 17, 2005

It’s up to legislators to approve whether and how the city’s proposed $900 million Indiana Convention Center expansion and stadium complex would be funded, but a handful of property owners that have title to land in the planned stadium’s path will also play a role in determining the project’s fate. The Marion County Capital Improvement Board is working with owners of the few pieces of property it still needs for the construction project and associated parking lots. CIB owns about…

ECONOMIC ANALYSIS: Slow, steady job growth certainly beats alternative

January 17, 2005

It’s good to have job growth in the U.S. economy once again, even if the monthly gains in employment reported by the Bureau of Labor Statistics occasionally fall short of some analysts’ expectations. After a long spell of minuscule job growth in the wake of a painful recession, we’ve grown used to disappointing announcements from the federal statistical agency responsible for tracking the labor market. But the recent report on the employment situation in December caps a year-long streak of…

Code sharing may help ATA: But analysts say Southwest Airlines unlikely to favor chairman’s international destinations

January 3, 2005

During ATA Holdings Corp.’s annual meeting in 2003, George Mikelsons told shareholders low-fare carriers must strike up alliances to weather the industry storm. He proposed code sharing that would allow passengers buying a ticket on ATA or a partner airline to fly on both and connect to potentially hundreds more destinations. Airlines would share the revenue. “If we don’t act to regroup ourselves,” ATA’s chairman warned at the time, “we’re going to be the Jonahs of aviation, swallowed by the…

Readers say transportation should top city’s agenda: Growing traffic delays, struggling IndyGo system, possible rapid transit system among issues facing planners

January 3, 2005

The average Indianapolis motorist sits in traffic delays more than nine times longer than he or she did 20 years ago: 37 hours a year vs. just four hours in 1982, according to a recent study by the Texas Transportation Institute. Growing delays have not only brought inconvenience and lost productivity, but also have earned the metro area “nonattainment” with federal air-quality standards. That raises the specter of expensive vehicle-emissions testing. IBJ Daily readers ranked solving congestion/public transportation issues as…

Chronic underfunding frays public safety, penal systems: County faces big questions about jail overcrowding, lack of funds for police, prosecutors and public defenders

January 3, 2005

In 2005, the city of Indianapolis will spend $277 million on public safety. Marion County will lay out another $186 million. It’s not enough. While $463 million may sound like a lot of money, it has to pay for every aspect of local public safety. Every uniformed cop on the street. All the judges, public defenders and prosecutors in the courts. Jail guards and probation officers, not to mention forensic researchers, city firefighters-even dogcatchers. Decades of neglect have left the…

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Articles

New owner brings hope for Eastgate property: Demolition would pave way for redevelopment

Chicago Express is not only asset ATA Holdings to jettison: More than $1.7 million for Boeing 727s won’t land in ATA’s pocket

Charter One Bank plans Indiana growth: Acquisition allows new owner to leverage 60 branches

Lilly faction seeks split of exec roles: Shareholder group wants to separate chair, CEO jobs

Builders try retail approach: Estridge, Davis plan north-side home stores

Republic Airways ponders employee concessions: But union complains about ‘disingenuous’ memo

Villaggio condos aim high: Proposed eight-story project targets downtown’s SE side

Mann seeks larger digs as growth strategy pays off: Busy developer eyes property for new headquarters

Eminent domain facing legal challenges: Supreme Court, Indiana legislature consider changes to economic development tool some say is unfairly used

Oak Street tables plans: Fast-growing mortgage firm postpones IPO

Mission: possible: Financial crisis averted, but work remains

Special Report: MURKY MISSION: Vague directive dilutes 21st Century Fund’s high-tech impact

SUSAN WILLIAMS Commentary: Don’t overlook Benjamin Harrison Home

EYE ON THE PIE: Income tax surcharge to hit only 1 in 20

VIEWPOINT: We stand on the shoulders of black business giants

Stadium’s pathway not clear: CIB must make land deals with Comfort Inn, Hurst Co.

ECONOMIC ANALYSIS: Slow, steady job growth certainly beats alternative

Code sharing may help ATA: But analysts say Southwest Airlines unlikely to favor chairman’s international destinations

Readers say transportation should top city’s agenda: Growing traffic delays, struggling IndyGo system, possible rapid transit system among issues facing planners

Chronic underfunding frays public safety, penal systems: County faces big questions about jail overcrowding, lack of funds for police, prosecutors and public defenders