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Patrick victory scores for series, sponsors: Historic triumph earns more attention than unification

Almost everyone involved with the Indy Racing League expected a firestorm of publicity after Danica Patrick won her first open-wheel race. But few predicted just how hot a commodity the 26-year-old driving diva would become following her April 19 win in Japan. “It’s not like we got caught unprepared. We had a plan in place for over a year,” said Terry Angstadt, president of IRL’s commercial division. The victory blueprint included a list of contacts to be made, interviews to…

EYE ON THE PIE: The danger of overrating civility

Here I am standing in line at the grocery store. The sign above the cashier says, “Twelve items or less.” The woman in front of me has a basket with at least 20 items. Should I ask her if she can count? I am on foot waiting for the traffic light to turn green. There are other pedestrians also waiting. Should I step off the curb and cross the street if there are no cars coming? A child is sticking…

BEHIND THE NEWS: Is it time for investors to bite on Steak n Shake?

It takes courage, but sometimes the best time to invest in a stock is when almost no one else is. That strategy paid off royally with Finish Line Inc., whose shares are up 180 percent this year. Now, is the time right to dive into The Steak n Shake Co.? To be sure, naysayers can find plenty of reasons to steer clear of Steak n Shake, which helps explain why shortsellers-investors who make their money when shares fall-have flocked to…

Pumped-up business leaders give big sums to Clinton, Obama

Indiana’s business community is divided in its support during this presidential election. Many Republicans are disenchanted,
which has contributed to slow contributions to their candidate, Arizona Sen. John McCain. But those looking to support Democrats
are torn this year, as the fierce competition between Clinton and Obama has made Indiana’s normally sleepy May primary a battleground.

IU-Bloomington, IUPUI ditch private-sector lenders: Student loan turmoil spurs schools to tap federal funds

With turmoil in student lending markets escalating, some universities are making major changes to ensure students have access to loans for the upcoming academic year. The answer for the Bloomington campus of Indiana University and for IUPUI is to return to getting loans straight from the federal government under the Direct Loan Program. The change will go into effect at the start of the next academic year. The two universities here are following other schools across the country making the…

EDITORIAL: Primary isn’t one-party affair: May 6 contest should matter to all

Primary isn’t one-party affair May 6 contest should matter to all Primary elections in Indiana are usually fairly quiet affairs. Only about 20 percent of registered voters typically show up at the polls, compared with about 60 percent in the general election. This year’s primary election, though, should be different. There are plenty of reasons to get even the most passive political followers from both parties excited about the May 6 event. For the first time in 40 years, votes…

Former Duke retail executive ready for first solo project: Schembre preparing to break ground on $15M Lawrence Commons

A former Duke Realty Corp. executive who hung up her own shingle last year is close to breaking ground on her first project. Cindy Schembre, 49, launched Via Retail Development LLC in January 2007 and is negotiating with tenants and closing on the purchase of 11 acres at 56th Street and Mitthoeffer Road. The $15 million project, known as Lawrence Commons, is an 80,000-square-foot neighborhood center that is slated to break ground in June. The development includes a 45,000-square-foot anchor…

Soaring cost of gas makes ethanol blend more competitive

Prices of an alternative fuel that’s had patriotic and environmental appeal–but not an economic one for motorists–have been
flirting this month with gasoline on an energy-equivalent cost basis. The sudden but often fleeting price appeal of fuel “E85,”
a blend of ethanol with a dash of gasoline, is due largely to gas prices soaring to nearly $4 a gallon.

Defaults also hit business property: Experts expecting bump in commercial loan woes

In the few short months since Gordon Hendry began leading the Property Management Division for the local office of CB Richard Ellis, the firm has become involved in a growing number of commercial loan defaults. Locally, CB Richard Ellis is the courtappointed receiver for Plainfield Crossing, a 92,000-square-foot West Washington Street strip center anchored by Value City, and for Crooked Creek Center, a 52,000-square-foot center at 79th Street and Michigan Road. Hendry expects the local office will be assigned to…

A&E: Pulling a Purdue Theater all-nighter

The sun was pretty close to shining in when the audience emerged from the midnight performance of “Hair” April 18 at Purdue University. But the nodoubt Red Bull-fueled crowd didn’t seem to mind. College students, of course, are used to keeping these sorts of hours. But even those of us accustomed to more traditional curtain times came out exhilarated. The drive-and the groggy Saturday morning-were well worth it. So why did Purdue’s student production of the 40-yearold, easily dated musical…

ECONOMIC ANALYSIS: Recession speculation is wrong way to use brainpower

With all the media warnings on the state of the U.S. economy, it is hard to get a good idea what a recession is and what it might mean for Hoosiers. The formal definition of a recession is two consecutive quarters of negative economic growth. We haven’t had even one quarter where real growth dipped below zero, and the weakerthan-usual employment data of the first three months this year won’t be enough to pull the economy into a recession. The…

Health network leading charge for electronic patient records

Four years after its launch, the Indiana Health Information Exchange is laying the groundwork to take its game outside state
borders. The Indianapolis-based not-for-profit offers a service that provides patient records and test results via computer
to hospitals and doctors around central Indiana. But now, its leaders think they can take their expertise to other cities
and help them develop their own health information exchanges.

Housing slump not all bad news: Slow residential market boosts some small businesses

Many homeowners watching the housing market are fretting about their property values as for-sale signs linger, foreclosure postings dot neighborhoods and credit is harder to come by. But the housing turmoil is actually helping some local businesses-particularly those specializing in marketing properties and helping to sell them. “There are positives and negatives to the housing slump,” said Brian Mayo, owner of Life Homes Inc., an Indianapolis-based property-sales and -management company started in 2005. “Purely from our business’s perspective, we’re one…

RETURN ON TECHNOLOGY: Microsoft Office 2007: ‘Gamey’ but challenging

As I write this, I’m learning to use my new Microsoft Office 2007. I’m finding out that having Office 2007 is kind of like being the first guy in town with a fax machine; it’s shiny, exciting, hard to use, and it can’t be shared with anybody else. There are several problems with Office 2007, but one of the most irritating is the new file format. Word documents, for example, used to have a .doc extension, and most sentient beings…

VOICES FROM THE INDUSTRY: Intermodal is key to Indiana’s future crossroads identity

Earlier this year, the Wall Street Journal ran a front-page story about rail’s resurgence as a means for moving goods across the country. The story described the federal dollars being spent to fuel this railroad recovery, as well as the private sector investments being made and the economic benefits waiting for cities that get involved. The story included a map with thick, colored lines representing the key rail systems connecting the Midwest to the coasts. It took only a quick…

Criminal charges possible in Premier blowup: Bankruptcy puts slew of creditors’ lawsuits on hold

Authorities are considering pursuing criminal charges against Christopher P. White and other executives at Premier Properties USA Inc. in connection with deepening troubles at the local development firm, sources familiar with the matter said. Possible charges include check fraud and criminal mischief stemming from a $500,000 bad check White deposited into an account with The National Bank of Indianapolis in January. Accusations also are flying over whether White and Premier paid payroll taxes and properly credited employee 401(k) and health…

INVESTING: Don’t believe the optimists who say worst is behind us

The Federal Reserve saved the day, right? That’s what everyone is telling me. The Bear Sterns bailout in the middle of March put the bottom on this market, and while it may not be sunny skies right away, the worst is without a doubt behind us. If the middle of March was the beginning of a bull market, then pigs really do fly! Sometimes the stock market takes on the tone of a battlefield. A lot of noise and confusion…

500 Festival retools after growth spurt

May is show time for 500 Festival Inc., and the local not-for-profit should have more than enough gas in its tank to cross
the 2008 finish line. In the past five years, it has doubled its budget, improved attendance–and quality–at its signature
parade, and continued to grow the nation’s largest half-marathon. But once the checkered flag flies, festival leaders will
sit down to consider whether they can maintain that pace without losing focus.

SPORTS: How big was Patrick’s win? Let the debate begin

Like most of the rest of the sporting world and to some extent beyond, I had awakened on that Sunday morning to the delightful news that, overnight in faraway Japan, Patrick had broken through to secure her first Indy Racing League victory in 50 tries. She now is something more than a pretty face and, to some, a sexual object who also just happened to drive race cars. She is a champion. Now this isn’t, as one gearhead suggested, along…

VOICES FROM THE INDUSTRY: As business property taxes rise, who really pays the bill?

All Indiana counties revised property tax bills as a result of an outcry by thousands of homeowners who fought back when they saw their 2007 tax reassessments and bills. Assessors had to go back to work and try again. So, they did. The new bills are out, and while it may be good news for homeowners, you can bet commercial property owners aren’t turning cartwheels in the parking lot. The average assessment for commercial properties (where you shop, work and…