Offers pour in for First Indiana Plaza
A sluggish real estate market hasn’t deterred investment groups interested in owning the 31-story First Indiana Plaza. Brokers say the New York-based owners of the struggling skyscraper have received about 10…
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NOTIONS: Close encounters of the human, political kind
Long ago, on a muggy Hoosier morning, my wife, Pam, and I packed the car, coaxed our reluctant sons into the back seat and drove three hours north from Indianapolis. Our destination was a summer camp in the far reaches of the state-a place where Austin and Zach would spend their first extended time away from home. When we walked into the camp’s registration area, we found two people we knew: Indianapolis Mayor Bart Peterson and his wife, Amy. They…
CHRIS KATTERJOHN Commentary: IBJ’s Enterprise Award hits 25
Giving out awards can be a tricky business. To wit, news broke Aug. 13 that CEO Peter Dunn has left Steak n Shake, a company we honored in 2005 with our annual Enterprise Award. A good chunk of the credit in our article profiling the company two years ago was directed at Dunn, an MBA and food-industry veteran who had energized the company with a philosophy that was producing results. Now he’s gone. Do his departure and a decline in…
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I N T H I S I S S U E FOCUS:Insurance&BenefitsQuarterly19-24 Employerslooktohealthsavingsaccountsforpremiumrelief19 OneAmericaingoodpositiontogrowthroughacquisition19 NOTSTRICTLYBUSINESS45-47 15 A&EbyLouHarry:FringecharacterspopulateaFringeFilmhighlight45 Dining:FritesatBruggeBrasserie45 FunnyBusinessbyMikeRedmond:TheWorldofTomorrowhovers,preparestoland46 SportsbyBillBenner:Plentytochewonforsportsfansofeverystripe47 PERIMETER15-18 HendricksCounty:Brownsburgluresdrag-racingfirms15 45 BehindtheNews:Andrews4OPINION & EDITORIAL HowmortgagemeltdownsankOakStreet,Commentary:ChrisKatterjohn10othersIBJ’sEnterpriseAwardhits25 EconomicAnalysis:Barkey28AEditorial10 PartingthoughtsonIndiana’sstrengths,Dunnexitshowsboarddoingjobweaknesses EyeonthePie:Marcus11ClassifiedsandInternetDirectory34-35LifegoesondespitepropertytaxesPeople18Viewpoint:DeborahJ.Daniels11ReturnonTechnology:Altom32Helpingex-offendershelpsallofusSavingprinterpaperdoesn’tsavemuchmoneyRECORDS SmallBusinessProfile40Calendar33FundRaising41It’sadog’slifeConventions33InRecognition41 LISTS LargestIndianapolis-AreaRetirementSTOCKS Communities26Investing:Hauke28LargestIndianapolis-AreaAssisted-LivingDominoeffectworsenedwoesinsubprimeFacilities37market ProxyCorner:IrwinFinancialCorp.31 COMPANY INDEX This index does not include companies mentioned in letters to the editor, lists, charts and records. The page numbers listed refer to the pages where articles begin. 3S Karting Supply ………………17 Conseco Inc……………………….30 Interactive Intelligence Inc……10 Precedent Commercial 96th Street Steakburgers……….1 Crowe Chizek…
Power broker Miles calling shots again in city
In the less than two years since Mark Miles, 53, took over the CEO-driven Central Indiana Corporate Partnership in 2006, he’s
transformed it into an economic development powerhouse for life sciences, information technology and advanced manufacturing.
How so fast? He started networking with Indiana’s political heavyweights more than 30 years ago. And he never stopped.NOTIONS: Health: another troubled bridge over U.S. waters
On a bookshelf in my office, I display a box of Kraft Macaroni & Cheese, three packs of Benson & Hedges cigarettes and the program from my late wife’s memorial service. I display the pasta because, until the company was spun off earlier this year, Kraft Foods was part of Altria Group. I display the Benson & Hedges because that brand is part of Phillip Morris USA, which is also part of Altria Group. I display the memorial-service program because…
Lawrence water, sewer operator files bankruptcy
Lawrence Utilities LLC, the private operator of the water and sewer system for the city of Lawrence, filed for Chapter 11 bankruptcy protection today. An attorney for the Lawrence-based utility, George Hopper, said the action was taken to protect the utility’s investment in the system and combat soaring legal bills stemming from its ongoing skirmish […]
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…
Property reassessment could be painful process
Indiana’s property tax woes are already a headache for Marion County homeowners. Now the cure is becoming a migraine for area
businesses, local elected officials and regional economic developers, too.Some fear exit opens door for patronage:
One improvement BAA made in Indianapolis never got much attention: It tried to weed out patronage jobs. Former airport board member Gordon St. Angelo thought it was one of the most significant benefits of taking airport management out of municipal hands. “I think a major improvement was the streamlining of what had been a semi-patronage type of program,” St. Angelo said, referring to BAA’s eliminating some nonproductive employees and practices. Municipal agencies such as airports’ becoming dumping grounds for politicians’…
BULLS & BEARS: Don’t expect market assumptions to be true
The other day, a client asked me the following question about the stock market: “How are we going to play the downside when the next president is a Democrat and raises taxes?” That question has three assumptions in it: Presidents who are Democrats raise income taxes. The stock market will drop if taxes are raised. The next president will be a Democrat. For more than five decades, tax rates on personal income have basically been dropping. In the 1950s, the…
ATA maintenance flying out of Indianapolis
ATA Airlines plans to discontinue line maintenance in Indianapolis by Nov. 1 and appears ready to deactivate its Indianapolis maintenance operations entirely. The discontinuation of line maintenance-which involves quick, overnight-type aircraft work rather than overhauls-underscores the increasing irrelevance of Indianapolis to the locally based airline. Once the busiest carrier at Indianapolis International Airport, ATA ended […]
Commentary: Don’t like new taxes? Voter, blame thyself!
A lot of people across Marion County are going to be upset this month as their property tax bills start landing on their doorsteps. Taxes are expected to increase an average of 24 percent. Although that means there will be some people with tax increases much less, there will be a lot more with increases way above that number. I’ve already heard stories of 30-percent increases in tax bills, 50-percent increases, and one poor soul told me he got a…
Tipton expecting mellow growth from Getrag plant
Tipton mayoral candidates say the $530 million transmission plant Chrysler Group and Germany-based Getrag Corporate Group are building near the town should provide job growth without disrupting the rural way of life associated with the community, according to the Kokomo Tribune. Getrag’s tax abatement request shows it intends to hire 1,088 Chrysler workers, and create […]
Tax hike may finally settle police pension problem: Measure could end 30-year battle over public safety
The Indianapolis-Marion County City-County Council is considering a proposal from Mayor Bart Peterson to raise at least $85 million annually for public safety through an increase in local income taxes. Since Democrats control the Council 15 to 14, the measure is expected to pass by the end of July and take effect Oct. 1. The tax hike would finally settle a 30-year battle that constantly pitted public safety’s immediate needs against its longterm pension obligations. Much of the revenue generated…
Daniels a change-maker so far, historians say
As Indiana Gov. Mitch Daniels prepares for a likely second run for office, two prominent historians say he already has accomplished enough to go down in history as a change agent who raised controversy by ramrodding through an agenda that included passage of daylight-saving time and the $3.85 billion lease of the Indiana Toll Road. […]
VOICES FROM THE INDUSTRY: U.S. companies should evaluate Chinese tax changes
Over the past three decades or so, foreign investment has been fueling China’s economic growth. Companies from around the world have flocked to meet the needs of the largest population in the world: 1.3 billion citizens and counting. Shifts in China’s political climate have made this Asian country ripe for commerce, and foreign companies-especially in the United States-have rushed in. Many U.S. manufacturers have been lured to China by tax holidays and reduced tax rates on income generated from their…
General manager named for struggling Columbia Club
The Columbia Club has hired Maarten van Wijk as general manager and chief operating officer to replace Edward Albany. Albany stepped down early this year after the not-for-profit hired a St. Louis consulting firm to help it reverse declining membership and other problems. Van wijk was general manager of the Four-Star Mobile award Hotel Hershey […]
Media trainer becomes driving force at Speedway: Firm teaches athletes how to behave on camera
While most eyes were on the Indianapolis Motor Speedway’s 2-1/2-mile oval this month, Kevin Long was more interested in what happened in the media room. Long is not a news reporter, but he’s been focused on every word spoken to the media this month by drivers, team managers and owners. It’s Long’s job to make sure those speaking into the mike maximize the benefit for themselves, their teams and sponsors. He owns and operates MVP Sports Media Training LLC, a…
Insurer stays on roll by hitting the brakes: Baldwin & Lyons profits more despite revenue drop
But that axiom doesn’t seem to apply to Baldwin & Lyons Inc. The quiet trucking-fleet insurer headquartered in Indianapolis happily let its revenue slide last year 7 percent, ending a four-year run of rapid growth. Why? Because new competitors have aggressively entered Baldwin’s traditional trucking market with lower prices. The industry’s margins have been slashed by half or more. Most businesses would call that trend a threat. But not Baldwin. President Joe DeVito disdainfully calls these new competitors “naive capital,”…