Residents to decide fate of township assessors
In this election, citizens must decide whether the assessing duties of the elected township assessor in the township should
be transferred to the county assessor.
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Articles
Hard-charging Ace Mortgage bites the dust
Executives of Ace Holding Co. LLC didn’t foresee the financial storm that caused the company to shut down late last week. In an interview with IBJ 18 months ago, CEO Richard Hall said the company had originated more than $3 billion in loans in 2006, and he projected business to be up at least 30 […]
Martin professor’s ouster sparks student protests
Martin University students upset over the firing of a popular professor are staging protests over the direction the school has taken under new President Algeania Freeman. Freeman in January replaced the Rev. Boniface Hardin, a Benedictine monk who founded the inner-city school 30 years ago. She since has roiled many faculty members and students by letting go employees-many times without reason, they contend-as part of a strategy to cut costs. IBJ reported their concerns in July. But the Oct. 20…
VOICES FROM THE INDUSTRY: Property tax reform will change development landscape
As the country faces the “subprime crisis” and its effect on the availability of financing, we know local real estate markets have seen brighter days. Fortunately, we also know this crisis will pass. If you are a real estate developer or land-use professional, there will be many opportunities ahead. However, it is important to consider that the regulatory landscape in Indiana relative to land-use development will not be the same as the one you knew prior to the current market….
Ousted mayor guides local up-and-comers: Peterson named moderator for prestigious group
Voters decided last Election Day that they’d had enough of Bart Peterson, but the former mayor is in demand with academics, a think tank, and now the city’s premier leadership network. Peterson is moderator of the Stanley K. Lacy Executive Leadership Series, which introduces “emerging leaders” to Indianapolis and its problems. “It’s something I never went through as a class member. I’ve always envied those who did,” Peterson said of the series, which accepts just 25 applicants each year. “It’s…
NOTIONS: Lessons learned from the candidates’ communications
Have I told you about my e-mail from Sarah Palin? Did you know that Obama campaign manager David Plouffe briefs me on campaign strategy? I’ve let slip, haven’t I, that Bill Clinton invited me to his place to munch on potato chips and watch Hillary’s televised debate? I receive streaming video from Gov. Mitch Daniels letting me look in on campaign stops statewide. His opponent, Jill Long Thompson, connects via Facebook. And at 3 a.m. one Saturday, Barack Obama texted…
For funding, developers may need to think outside box: Amid tight credit markets, getting a project built often takes alternative financing sources, creative approaches
Although the spigot of bank financing has slowed to a trickle, money to fund commercial development projects remains available from alternative sources. Just ask David Amick, executive director of Premier Capital Corp., a local lender that uses federal funds to help finance expansions. “We’ve got money to lend,” he said. “I’ve got that [message] hung on the door.” The fragile credit markets have nearly diminished the ability of companies to borrow. But lenders such as Amick insist the money is…
Daniels drops lottery privatization plan
Gov. Mitch Daniels said today that he is dropping the idea of privatizing the Hoosier Lottery as an option of funding a college scholarship program after the U.S. Department of Justice said such a move would not comply with federal law. The Oct. 16 opinion, which Daniels’ office said was requested by Indiana and New […]
Study: Area residents support mass transit
A study released yesterday by the Greater Indianapolis Chamber of Commerce and the Metropolitan Indianapolis Board of Realtors shows widespread interest in expanding mass transit in the area. More than three of four respondents in all nine counties surveyed – even largely rural Hancock and Shelby – said they saw a need for improved mass […]
IU seeking funding to help alleviate doctor shortage: Medical school wants extra $5 million from Legislature to tackle projected shortfall of 1,300 physicians by 2025
An acute physician shortage in Indiana is driving a request for an additional $5 million in annual funding to expand enrollment at the state’s only medical school. The Indiana University School of Medicine’s Physician Workforce Task Force conducted a study in 2006 that found the state already had 3,500 fewer physicians than it should. Indiana had 12,534 doctors in 2005-a number that remains relatively flat because the medical school churns out the same number of graduates each year. Over the…
Lenders foreclose on at least 20 properties in mortgage scheme
Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.
VIEWPOINT: Put progress over politics and enact reform
As we approach the final stretch in this year’s election season, it’s easy to get desensitized to the political rhetoric. Sometimes, though, there’s an issue that transcends the partisan divide and deserves to cut through the clutter: Local government reform is such an issue. Indiana’s Constitution created a multilayered system of county, township and municipal government in 1851. This might have been appropriate when most travel was by horseback, but today it’s left Hoosiers to support more than 3,000 units…
Commentary: We’re all in danger of motion sickness
(Author’s note: I submitted this column Oct. 14, with full knowledge that the world may have come to an end by the time it is published.) It’s swing time. Candidates for office, state and federal, are swinging and slinging mud at one another. In a last-ditch effort to scare voters, Sarah Palin accused Barack Obama of hanging out with Bill Ayers, co-founder of the Weathermen, a militant group of the 1970s. In reality, by the time Ayers met Obama, his…
Commentary: Turmoil raises questions about toll road
On Aug. 28, the investment bank UBS downgraded its rating on the Australian investment bank, Macquarie Group. UBS noted that Macquarie faced the threat of a declining asset base, which it leverages to fund Macquarie’s dividend payments. UBS also posited that Macquarie may be inadequately capitalized. Macquarie Group should be familiar to Hoosiers as one of the two entities that leased the Indiana Toll Road in April 2006 for 75 years. To lease the toll road, Macquarie invested $385 million…
Clarian venture fund invests in Minnesota firm
Clarian Health Ventures has invested an undisclosed amount of money in NeoChord Inc., a Minneapolis company that’s developing a treatment for mitral-valve regurgitation. The treatment is based on technology first developed at Mayo Clinic and has since received funding by angel investors with ties to Indianapolis, Clarian said in a press release. The technology has […]
Nervous banks cut off some borrowers, tighten reins on others
Local companies that rely on credit have seen their borrowing power shrink and in some cases disappear as a deep freeze
in the nation’s credit markets drives fears of a broad economic slowdown. A handful of businesses, including
a Greenwood security firm and an Indianapolis contractor, already have shut down after credit dried up,
and others are on the ropes as troubled banks seek to limit their loan exposure.Firm off to a FAST start: Investors backing company’s kidney assessment technology
FAST Diagnostics quickly is becoming one of the more promising companies in Indiana University’s efforts to commercialize its discoveries. Incorporated in November 2006, it is developing a method to measure kidney function faster and more accurately than existing techniques can. While FAST represents speed, the name actually stands for functional assessment and surveillance technology. The fledgling firm so far has attracted more than $4 million from investors, including $2 million from the state’s 21st Century Fund. BioCrossroads, Rose Hulman Ventures…
INVESTING: Advocates did bad job selling rescue package
The word bailout is being used more than the folks at Merriam-Webster ever could have imagined. Yet, bailout is the wrong term to characterize the rescue plan the Federal Reserve and the Treasury presented to Congress. Our leaders have done a poor job explaining why. At present, the U.S. financial system is in cardiac arrest, and this plan is the defibrillator designed to jolt the system back to life. The crux of the problem is that banks and other financial…
Rooney’s death spawns uncertainty for struggling insurance company, not-for-profit
After the unexpected death of insurance magnate J. Patrick Rooney, two organizations he led until the day he died are scrambling
to figure out who will lead them into the future.EYE ON THE PIE: Crisis pits fairness against urgency
As these words are written, we do not know what Congress will decide to do about the mortgage mess. But it is clear folks are angry about the inequity of rescuing borrowers, lenders or traders with funding from the pockets of the innocent. Among the “villains” are home buyers who took on mortgages they could not afford. Also marked for sanctions are over-eager lenders, highly paid executives, and those who dealt in “innovative” financial products linked to mortgages. Those who…