Cummins cleans up with diesel
Less than a decade ago, diesel engines were viewed as loud pollution machines punching holes in the ozone. Now their cleaner,
quieter cousins are powering a resurgent Cummins Inc.
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Steak n Shake expects ‘rebuilding year’
Steak n Shake Co. CEO Peter M. Dunn analyzed and measured just about everything at the restaurant chain, from drive-through
times to employee turnover. All that research and testing was welcome when the company was thriving a few years ago. But the
lack of evidence that all the analysis was paying off eroded Wall Street’s confidence in Dunn.FUNNY BUSINESS: The World of Tomorrow hovers, prepares to land
It’s a hovercraft, the M200G from the fine folks at Moller International of Davis, Calif. It has eight rotary engines that create enough oomph to lift the thing about 10 feet in the air, just high enough to zoom over traffic and crack your head on a stoplight. Which, let’s face it, would add a much-needed element of comedy to the average morning commute. But anyway, about the car: It’s about time. I’ve been waiting for this thing since I…
A&E: Fringe characters meet Fringe Film
By the time you read this, Gen-Con-one of our town’s largest conventions-will have packed up its multisided dice, folded its cowled costumes, and drunk its final Mountain Dew (at least for this year). How you feel about this convergence of game players will influence, in part, how you feel about “A Great Disturbance,” a feature film to be screened Aug. 17, 24 and 31 as part of Fringe-Film, the new movie component of the 3-year-old IndyFringe Festival. To be clear,…
OneAmerica methodical in approach to new deals: Flush with capital, local insurer on the lookout for acquisitions
Don’t expect OneAmerica Financial Partners Inc.’s purchase of a $700 million annuity portfolio last month to be its last big-ticket buy. The Indianapolis-based insurance holding company says its executives and heads of its various product lines are constantly on the prowl for acquisitions. But don’t hold your breath for the company’s next deal. Its purchase of annuities from Iowa-based Transamerica Life Insurance Co., announced July 24, took two years to come together. So did its previous acquisition, the 2005 purchase…
SPORTS: Plenty to chew on for sports fans of every stripe
You leave town for a little vacation, but that doesn’t mean the world of sports is going to stop spitting out news. Therefore, thoughts about this, that and the other while I was away: News item: Barry Bonds breaks Henry Aaron’s home run record. Thought: Yawn. I ceased to care long ago. Major League Baseball has gotten what it deserved for ignoring the steroid issue for so long. News item: Tiger Woods wins his fourth PGA Championship, his second in…
MICKEY MAURER Commentary: The right men for a tough job
In response to the sticker shock experienced by many Hoosiers upon opening the envelope from the property-tax assessor, Gov. Mitch Daniels announced a number of major moves. He ordered new assessments in Marion County and other counties throughout the state; a tax bill freeze in these counties to the 2006 levy; and the creation of a commission on local government reform, co-chaired by Indiana Supreme Court Chief Justice Randall Shepard and former Gov. Joe Kernan. The mission of the commission…
Did mortgage losses spur sudden First Indiana sale?:
First Indiana Corp. announced poor second-quarter financial results Aug. 7-which raises this interesting question: Did the city’s biggest locally owned bank race to sell itself last month because the results otherwise would have caused its stock to tumble? Even before the earnings report, banking observers were abuzz that the $529 million sale to Milwaukee-based Marshall & Ilsley Corp. seemed rushed. While many expected First Indiana to sell eventually, CEO Robert Warrington had seemed hellbent on improving results first to drive…
EYE ON THE PIE: Are big counties getting all the goodies?
Are the most-populated counties of the northeast and southwest corners of Indiana improving their economies faster than their regional neighbors? Indiana is very sensitive to this issue. Throughout the state, people resent the presumed primacy of Indianapolis, which serves as the center of Hoosier government and business. Those outside Marion County claim that all the goodies go to Indianapolis and the rest of the state gets only the leftovers. Are the carpers right, or are they deluded by a residual…
Fieldhouse must fend off Louisville arena rival
Although the opening of a 22,000-seat arena in Louisville is still three years away, officials here are already bracing for
a raid on Indianapolis and Conseco Fieldhouse events. Several Indianapolis interests will be watching Aug. 20 as the Louisville
Arena Authority unveils designs for the arena along the Ohio River.Lots of empty new houses on market, expert says
Forty-six percent of new houses in the nine-county Indianapolis area are unoccupied-barely an improvement from the 49 percent of early this year. The figure were compiled by Market Graphics, a Nashville, Tenn., firm that researches housing stock in 30 Midwest and Southern cities. Market Graphics owner Edsel Charles said ongoing problems with mortgage foreclosures appear […]
Judge puts Benicorp Insurance into receivership
A Marion County judge has appointed the Indiana Department of Insurance as receiver of Benicorp Insurance Co. to protect the ailing company’s 52,000 policyholders, the department announced today. Marion Circuit Judge Theodore Sosin appointed Insurance Commissioner Jim Atterholt to oversee the transfer of Benicorp customers to Minnesota-based UnitedHealthcare and, potentially, to liquidate Benicorp’s assets. Indianapolis-based Benicorp has […]
Consumers wary of ‘greenwashing’ by companies
With the gospel of global warming raising the call for “green-ness” to a near-hysterical pitch, there’s a growing sense that
creating an earth-friendly image will bring companies a strategic advantage. Yet the contradictions between what companies
do day in and day out and what they do to improve the environment can create a marketing minefield.CHRIS KATTERJOHN Commentary: On races revered, refined and rowdy
Now that this year’s Brickyard 400 is behind us, the Indianapolis Motor Speedway is making major capital investments that will lay the groundwork for another new era at the Brickyard. To the tune of several million dollars, crews are now preparing to repave the track and alter the former F-1 course for the introduction of motorcycles in September 2008. These are the latest improvements in a string of many over the last dozen years that have paid off for both…
Against the odds, Emmis grows publishing division: Unsung unit now one-fourth of company’s revenue
At a time when many print publishers are wringing their hands at the prospect of losing readers to the Internet, Emmis Communications Corp. is experiencing surprising growth in its magazine division. With the acquisition of Orange Coast last month, Emmis owns seven city-based magazines and one nationally distributed magazine. And the publishing division, with 406 of Emmis’ 1,300 employees, is the company’s fastest-growing. “City magazines like the ones Emmis has are doing quite well,” said Abe Peck, chairman of journalism…
SPORTS: There’s still time to savor a championship season
The Indianapolis Colts are back at it, and with their arrival in Terre Haute (which is French for “terribly hot”) comes the first round of predictions. Will they or won’t they back up their Super Bowl championship? Hey, we’ll all find out in the dead of winter, not the heat of summer … how’s that for not being either bold or profound? But words in the first week of August are just so much blah, blah, blah. So, too, as…
Hotel glut developing downtown: Lodging projects could lift room totals by 40 percent
The 10 hotels either under construction or in the planning stages downtown would increase the amount of rooms in the city’s center more than 40 percent-a far greater number than the market likely could absorb, experts fear. The projects are largely in response to Lucas Oil Stadium, slated to be completed by August 2008 and an expansion of the Indiana Convention Center that will nearly double its size by 2010. If all 10 hotel projects come to fruition, almost 2,300…
Patents, startups hit record at IU
A record 116 patents were filed by Indiana University faculty and staff in the fiscal year ended in June, the IU Research & Technology Corp. said today. The figure was roughly double the number of the past three years. Activity had retreated following a surge early in the decade. Five businesses were created, also an […]
MICKEY MAURER Commentary: Banker’s exit won’t end good deeds
Indiana, as you know, has not escaped the inevitable crush of consolidation in the banking industry. No one should have been surprised by the announcement that First Indiana Corp. was selling itself to an out-of-state bank, Milwaukee-headquartered Marshall & Isley Corp. In spite of the best efforts of M&I, The National Bank of Indianapolis, of which I am chairman of the board, will add business as a result of this transaction. Some of First Indiana’s customers prefer to deal with…
Pan Am buyer to raze rinks
A Texas firm has agreed to buy Pan Am Plaza’s 12-story office building and skating rinks and is planning to replace the rinks
with a more-than-$50-million restaurant and retail development.