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EYE ON THE PIE: Property taxes: Indiana’s soap opera

Hoosier propertytax laws are so bad, they should be totally revised, but not discarded. As it stands, there is little economic sense in how those laws are written or applied. We have homeowners ranked against renters, plus residential, commercial, industrial and agricultural interests are in perpetual conflict. The only beneficiaries of this ceaseless conflict are the party automatons in the General Assembly. Let’s consider the simplest case. Mr. Gold lives in a house with an assessed value of $150,000. Mr….

Fox Sports Midwest rebrands, unveils new plan: Local broadcasters will feel heat if strategy works

Fox Sports Midwest-which is in the process of rebranding to Fox Sports Indiana in this market-is serving notice it intends to be the television network of choice when it comes to local sports. Shortly after wrestling part of the Indiana Pacers broadcast rights from WTTV-TV Channel 4, officials for St. Louis-based Fox Sports Midwest unveiled a plan that entails significant upgrades to its local sports programming, including adding professional, collegiate and high school sports of all sorts as well as…

masthead:

E S TA B L I S H E D 1 9 8 0 L O C A L LY OW N E D 41 E. WASHINGTON STREET, SUITE 200 INDIANAPOLIS, IN 46204-3592 317-634-6200 Fax: 317-263-5060 Editorial Fax: 317-263-5406 E-mail address: [email protected] site address: www.ibj.com PRESIDENT AND PUBLISHER Chris Katterjohn VICE PRESIDENT/ SALES & OPERATIONS Greg Morris EDITORIAL Editor – Tom Harton Managing Editor – Greg Andrews Associate Editor – Tawn Parent Focus Editor – Jeff Newman Enterprise Editor – Andrea…

Mayor says condo plan for arena site needs more retail

When Mayor Bart Peterson announced Aug. 31 that the efforts of a partnership to build condominium towers on the former Market Square Arena site had failed, he gave his administration 60 days to put together another deal. Peterson’s vision: Hold onto the concept of a residential tower, but add “significantly more retail.”

PAN founder focuses on another IT venture: BubbleUp aims to standardize musicians’ Web sites

It didn’t take David Pfenninger long to get back into the game. Just months after selling Carmel-based Internet-test provider Performance Assessment Network Inc. in April for $75 million to St. Louis-based TALX Corp., Pfenninger is betting on another Internet venture: an online music marketing and management startup called BubbleUp. Pfenninger initially remained part of PAN’s local management team after the acquisition, but stepped down this summer, retaining a role as a consultant. “I thought it was time to make a…

BRIAN WILLIAMS Commentary: Downtown needs a grand, artful facility

On Sept. 1, 45 competitors from nearly 20 countries arrived for the seventh quadrennial International Violin Competition of Indianapolis. Through the middle of September at venues around the city, these talented men and women will compete for one of the richest artistic prizes in the world. In a few short months, the American Pianists Association will undertake its biennial competition for the Cole Porter Jazz Fellowship. Again, a cadre of some of the instrument’s most accomplished American performers will come…

BULLS & BEARS: A study in how options can erode shareholder value

Business schools use case studies to teach students realworld business decision-making. Likewise, investors can study the historical Securities and Exchange Commission filings of public companies, see how past business decisions played out in the stock market, and perhaps learn a few lessons. I came across an interesting case the other day, a small company called Intervideo Inc. that had just announced it was being acquired. The more I looked at the Fremont, Calif.-based company, the more it struck me as…

SPORTS: Are security searches all we retained from 9/11?

I pulled up the column I wrote five years ago this week. It was published five days after 9/11. This is how it began: “When you have a tragedy of such immense proportions as the one visited on America last week, it renders the world of sport to the status of the trivial, the trite, the absolutely, totally inconsequential.” But I also expressed the belief that it would be sport that would aid us in our recovery. “Yet as meaningless…

Home builders facing tougher-than-expected downturn: Local building permits down 18 percent from last year

Alan Goldsticker, president of Ryland Homes of Indiana, said builders have a mound, not a mountain, confronting them. The walls might not be caving in on the Indianapolis housing market, but the current softening in home building is expected to continue for months. That’s the prospectus from Steve Lains, CEO of the Builders Association of Greater Indianapolis. While the outlook is not as bad as it could be, it is worse than most experts expected entering 2006. BAGI predicted then…

RETURN ON TECHNOLOGY: Laptop deal-breaker depends on reliability

I’ve been scanning laptop buyer’s guides lately, and I have to say that many magazine test labs seem utterly out of touch with business users. They extol the big screens, fast multimedia and other capabilities business users just don’t care about. They act as if weight is a big factor for those of us who have to cart our hightech symbiotes around with us, but laptops long ago dropped below that critical barrier. Hewlett-Packard had a little notebook unit in…

Firm sees opportunity where banks see risk: Oak Street has big hopes for insurance agency loans

Bankers like to see plenty of collateral when they underwrite loans. Insurance agents don’t have many hard assets to show them. Free toasters won’t smooth over this credit dilemma. But the leaders of the Carmel-based Oak Street companies boast they can. And they’re poised to capitalize with a fast-growing specialty lending firm. “The first line of our vision statement says we’ll build a long-term sustainable financial-services firm,” said Oak Street Chairman Steven Alonso. “It’s our strategy to diversify.” Founded in…

Cleanup of contamination in store for new Claus site: Sausage shop owner redeveloping brownfield property

It’s 2:30 p.m. on a Tuesday and a steady stream of customers continues to patronize Claus’ German Sausage and Meat Market on East South Street. By March, however, the butcher shop likely will have abandoned its longtime home for a new building on South Shelby Street in Fountain Square. Whether its loyal clientele will follow concerns owner Claus Muth, who purchased the store from relative Gerhard Klemm in 2003 and changed the name from Klemm’s in April. “Since [the new…

Young architect honored for design of orphanage: Cluster complex plan wins international competition

Chunsheh Teo is a driven man. The 28-year-old sometimes works long days as an architectural graduate at Ratio Architects Inc. and spends his off time building furniture for the home he and his wife recently purchased in Irvington. On a recent weekend, he built a new fence for the yard. Oh, and he also enters international design competitions in his down time-about seven in the last three years. “It’s just kind of a fun thing to do,” Teo said. At…

Church reborn as art gallery: Restoration turns rundown, 112-year-old building into stunning ‘Sanctuary’ for popular local artist

Most people who hire Everett Barnard are looking for him to make something new look old. Barnard, as his clients tell others, is a genius at remodeling a modern kitchen or an entire home into a throwback from the Neo-Greco era. But one of his most recent projects involved remodeling a 112-year-old former Methodist church into a new art gallery while restoring and retaining as much of the structure’s late-19th-century look and feel as possible. Barnard doesn’t just make things…

Lilly decides to self-insure for product liability

Eli Lilly and Co. has picked an insurer it knows extremely well to cover future problems in the high-stakes world of product liability litigation–itself. The Indianapolis drugmaker opted for self-insurance after struggling to find coverage in what it terms a “very restrictive insurance market.”

156-year-old Clabber Girl rolls out new products

The 156-year-old Terre Haute company that quietly churned out nothing but its trademark baking powder for more than a century is now serving notice to General Mills’ Bisquick and other well-known brands that the status quo is dead.

NOTIONS: A travel dispatch from somewhere over the rainbow

The sun is setting, the pavement damp, and dark clouds dance across the San Juan Mountains as we turn onto U.S. Highway 550 and drive north toward Durango. As if there weren’t enough beauty in this peak-filled paradise, Nature’s earlyevening sideshow features a fully arced double rainbow, quite the welcome sign to a late-summer vacation. I suppose you could write off a double rainbow as a mere meteorological phenomenon. I suppose I could, too. But it’s more fun to wonder…

CHRIS KATTERJOHN Commentary: ‘Pop’ group: Cosby, White & Dungy

CHRIS KATTERJOHN Commentary ‘Pop’ group: Cosby, White & Dungy Bill Cosby, Eugene White and Tony Dungy are a pop group of a different kind. They are out and about these days calling on men to be better fathers. Comedian Cosby was in Baltimore late last month urging fathers to help raise their kids. “This is a great evening because we’re calling on men to come claim their children,” Cosby said to the crowd. “And that’s part of being a man….

First Internet’s acquisition is no run-of-the-mill bank:

BEHIND THE NEWS First Internet’s acquisition is no run-of-the-mill bank Bank mergers happen all the time in Indiana, but this one is about as unique as they come. The buyer, Indianapolis-based First Internet Bancorp, was one of the nation’s first Web-only banks when it opened its doors in 1999. Today, it’s among the top five in that field, with assets topping $445 million. The seller is Indianapolis-based Landmark Financial Corp., parent of Landmark Savings Bank. Landmark Financial, with assets of…