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INVESTING: Excessive use of leverage now walloping Wall Street

Here’s a well-worn saying about businesses that engage in risky behavior: “You only find out who has been swimming naked when the tide goes out.” If so, we are nearing low tide and the biggest nude beach on the planet is on display in lower Manhattan. These recent events are historic. Lehman Brothers, a 158-year-old firm that survived the Depression and world wars, was forced into bankruptcy due to leveraged bets on subprime securities and risky loans made over the…

VOICES FROM THE INDUSTRY: How to avoid horror stories by pre-planning your move

If you’ve ever helped a friend move, you probably have horror stories to tell. About showing up to find not a single item boxed up. About countless cross-town trips in overloaded cars. About stacks and stacks of boxes labeled “Misc.” Or about unconnected utilities, lost keys, miscommunications, out-of-service elevators…well, you get the picture. Those kinds of scenarios might cost you years of good-natured teasing after you’re moving into your first apartment, but when the move involves a workplace, the stakes…

Commentary: Rethinking my presidential pick

Help me, John. I’m falling off the wagon. I like you. I read your autobiography, “Faith of My Fathers.” You are a maverick, like they say, and a patriot. My old boss, Mitch Daniels, made you his early choice. I agree with most of your pronouncements on taxes and the economy, and applaud your willingness to face up to the energy crisis and our dependence on foreign oil. I tentatively decided to cast my vote for you in November. But…

NOTIONS: Contemplating the origin of our competitive species

West Yellowstone, Montana-Outside the cabin window, the cool light of dawn is slowly illuminating the world around us. From where I sit, I can see the white trunks of two Aspens, their leaves a mix of green and gold. A few miles down Highway 20, the cook at the Bar N Ranch is serving up hash browns, sausage and huckleberry pancakes. And beyond that, over at Yellowstone National Park, the die-hard wildlife watchers are shivering in the cold, hoping to…

Swedish auto parts maker closing plant

Autoliv Inc., a Sweden-based manufacturer of air bags and other auto-safety equipment, said yesterday that it will close its plant in the northeastern Indiana town of Columbia City, throwing 380 employees out of jobs beginning this year. The work will be consolidated at a Utah plant because the company doesn’t foresee the American auto market […]

Mid-West Insulation closing down

Mid-West Insulation Inc., one of the city’s largest privately held commercial insulation contractors, told its 40 employees on Monday that it is closing. President and CEO Tom Flynn said the weakening economy caused profits to tighten, and the family-owned firm decided to shut down rather than allowing conditions to worsen and leave creditors and customers […]

State unemployment rate inches up

Joblessness edged up to 6.4 percent in August from 6.3 percent in July, the Indiana Department of Workforce Development said today. The figure, which is seasonally adjusted and subject to revision, was well over the 4.5 percent rate of August 2007. Still, the department painted a nuanced picture of Indiana’s rate being a half-point below […]

Parking for disabled Colts fans ID’d

The Indiana Stadium and Convention Building Authority announced today that 125 to 150 additional parking spaces for guests with disabilities have been identified around Lucas Oil Stadium.

The ISCBA said three areas will now…

Accuride shares briefly soar

Shares of Evansville-based manufacturer Accuride Corp., which closed last night at 73 cents each, exploded as high as $4 this morning on news the company’s exposure to Lehman Bros.’ bankruptcy is limited. The vehicle parts maker disclosed that only 19 percent of its $125 million credit facility is backed by Lehman commercial paper. The shares […]

Are WellPoint execs greedy?

Three activist groups dropped off a wallet and handbag crammed with play money at WellPointâ??s front door
this week to protest what the groups say are outrageous salaries pulled down by company executives.

The groups â?? Health Care for America Now,…

The death of David Foster Wallace

A few weeks back, in my A&E Season Preview in the print IBJ, I picked as one of the highlighted events David Foster Wallace’s scheduled talk at Butler University.

That won’t be happening. The acclaimed writer, best known for his essays and…

CountryMark resumes oil drilling

Indianapolis-based CountryMark Cooperative Inc., which operates an oil refinery that turns out diesel fuel used primarily by farmers, has returned to drilling oil wells after abandoning the production business decades ago. CountryMark has hit oil with a well it drilled in Spencer County, and two more wells are planned this year in Posey County – […]

Ace eyes Fall Creek Place

King Park Area Development Corp. is in advanced talks with Ace Hardware to anchor a new retail project at the northeast corner of 22nd and…

Conseco chief buys 200,000 shares

Conseco CEO Jim Prieur bought 200,000 shares in the company today, the Carmel insurer disclosed. The purchase brought Prieur’s stake to 430,000 shares, according to Bloomberg. Prieur acquired the shares for $4.35 to $4.97 a share. The stock is up 22 percent today, to $4.62, after having lost nearly half its value this week. The […]

Inlow estate must be reimbursed, court rules

The wife of former Conseco Inc. chief counsel Lawrence Inlow has lost a court appeal in which she attempted to prevent money from a wrongful death settlement with the Carmel insurance company from being used to pay for his funeral. The decision means the $248,034 cost of the funeral and burial will be taken from […]

Colts roll back stadium opening

The Indianapolis Colts have rolled back the opening of Lucas Oil Stadium by two hours on home game dates. LOS will now open two hours before games, instead of the four hours it…

Regional banks surge amid Wall Street turmoil

As stock prices of Wachovia Corp. and other big names in banking take massive hits, regional banks like Integra and Old National in Evansville are quietly racking up large gains. An analysis of the best-performing Indiana stocks since Sept. 1 reveals regional banks atop the list. Integra Bank Corp. has seen its shares soar nearly […]

Forbes: Cook still richest Hoosier

Bloomington billionaire Bill Cook placed 68th on this year’s Forbes 400 list of the richest Americans, the same rank he held last year, retaining his spot as the wealthiest Indiana resident. However, Cook needed $500 million more to keep the placing. Last year, the 77-year-old had $4.5 billion; this year he hit $5 billion. Cook […]

Izod rolls out IRL clothing line

Izod rolled out a new line of Indy Racing League-themed jeans and shirts at a leading fashion show in Las Vegas last month.

This week Izod announced they will rev up a major marketing…

Lilly CEO Lechleiter to become chairman

Eli Lilly and Co. announced today that CEO John Lechleiter will also gain the additional title of chairman on Jan. 1. Lechleiter will replace Sidney Taurel, who is retiring. Lechleiter took over for Taurel as CEO on April 1. Lilly directors today also named Taurel as chairman emeritus.