NY notes: Upright Citizens
About a year ago, on a previous trip to NYC, I happened to be in town with a free Sunday evening. That’s usually not the most happening time in any town, but I knew there had to be something outstanding…
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Leaders disagree about Clinton, Obama preference
The topic of health care sparked the most spirited comments from business leaders interviewed by IBJ ahead of the May 6 presidential
primary. When asked whether they thought Barack Obama or Hillary Clinton would be better for business, executives in manufacturing,
exporting, computer technology, logistics and education largely demurred.
Hungry for growth, bagel maker tiptoes into healthy food segment
Since its founding 17 years ago, Indianapolis-based Harlan Bakeries LLC has built its reputation, and its fortune, on making
bagels. Untold millions of bagels. Considering the number of conventional treats Harlan turns out, it might be easy to overlook
its newest project: producing a non-medical “diet cookie” for Boca Raton, Fla.-based Smart For Life Weight Management Centers.
Angels invest where others fear to tread: Wealthy entrepreneurs join forces to create HALO Capital Group
Some high-tech companies are so risky that even venture capitalists quiver. That’s when they turn to angels, who aren’t afraid to fly to the rescue of cash-strapped innovators with chancy yet possibly lucrative ideas. Last year, two dozen of central Indiana’s most successful business veterans decided to intercede on behalf of Hoosier entrepreneurs. They formed HALO Capital Group, a network of angel investors who seek to speculate on promising Indiana startups. Every other month, the HALO group meets at a…
EYE ON THE PIE: There is no joy in latest county data
Cynthia Cyphon called me for “insights” on the latest county statistics released by the Bureau of Economic Analysis. “So what’s doing with these numbers?” she asked. “I see Hamilton County, the state’s wealthiest county, is not anymore.” I went out on the deck with my lapdog and my laptop. This was going to be a long phone conversation. “Cynthia, get your head around this,” I said. “Per-capita personal income is used widely as an indicator of economic wellbeing. That’s why…
A&E: ‘Victor/Victoria’ wins despite itself
A little bit of history before I get to the specifics of American Cabaret Theatre’s production of “Victor/Victoria”: The movie on which it is based, concerning a woman who finds success-and romantic complications-pretending to be a female impersonator, proved a surprising cinematic hit for actress Julie Andrews and her director/husband Blake Edwards in 1982. Thirteen years later, again directed by Edwards, the movie was turned into a musical for Andrews, who hadn’t been on Broadway since “Camelot” in 1963. The…
VOICES FROM THE INDUSTRY: Selling your company? Welcome to the jungle
If you’re thinking about selling your company, you’ll get no further than typing your first Google search when the term “private equity” pops up and maybe to a fifth Google search when the term “strategic buyer” appears. Private equity firms seem to be everywhere these days. These funds are growing larger, going public and making (or failing to make) ever larger acquisitions. With the increased visibility, the reputations of private equity firms are still based largely on stereotypes. Think unfair…
Networking key for Heron: Life sciences venture capital firm has invested in four startups
Four years ago, attorney Greg Maurer decided he wanted to try his hand at venture capital. So he began calling everyone he knew in Indianapolis for help. It took several years. But eventually, Maurer attracted a team of experienced venture managers to his side. He also assembled two expert boards: one filled with scientists to help analyze the technical side of new business plans, and another composed of veteran investors to consider their market potential. Maurer, 31, is the son…
ECONOMIC ANALYSIS: A healthy economy makes an uninteresting campaign
In this curious primary season, Indiana finds itself the brief center of attention as Sens. Hillary Clinton and Barack Obama invest time and treasure in the crossroads of America. The strongest focus in both their campaigns is my favorite subject-the economy. Both candidates bemoan the poor Hoosier economy, its job losses and income inequality. This would be a superb campaign approach for both candidates, except that their claims are wholly, totally and embarrassingly devoid of facts. Indiana’s economy is doing…
INVESTING: Don’t follow the crowds; follow these wise men
There are many things I do not understand. I don’t understand why a golf gallery must remain “pin-drop” silent while a person hits a ball that sits stationary on a tee, yet fans can scream at the top of their lungs while a batter tries to hit a ball coming toward him at 95 miles per hour. I also don’t understand how economists take massive amounts of conflicting economic data, input the statistics into a model, and, presto, out comes…
Car makers turn up pressure for bigger, but fewer, stores
Domestic automakers were already scheming about new ways to chop dealers–cutting costs to service them–as their market share
drained to Toyota and other foreign competitors. Now, an economy standing on the brakes could drive another round of dealer
consolidations that might not be a good deal for family-owned peddlers of metal.
Airport contractor accused of faulty work in New York
An Indianapolis firm helping oversee construction of the city’s $1.2 billion midfield terminal is facing accusations from
Southwest Airlines that it failed to ensure the quality of a $12.4 million concrete apron at Long Island MacArthur Airport.
VOICES FROM THE INDUSTRY: VC investment will help Indiana through any recession
In 2002, Indiana ranked an anemic 37th among all states in the amount of total venture capital investment. That year, California had 41 times the investment of Indiana on the basis of per dollar of gross state product. Indeed, few local entrepreneurs or finance professionals could identify more than a couple of Indiana-based VC funds. Few national venture funds even visited Indiana companies as they flew over the Hoosier state on their way between the coasts. As I learned while…
Commentary: At BMV, obscurity is sign of success
There are professions in which you are never noticed until you screw it up-the center of a football team when he snaps the ball over the quarterback’s head, the business assistant when he or she brings the wrong set of papers to the closing, and the bus driver who-after 20 years of safe driving-rear-ends the rock star’s limousine. Included in this list is the CEO of the Indiana Bureau of Motor Vehicles. Do you remember Joel Silverman, former commissioner of…
SPORTS: In retrospect, the Dome’s utility can’t be denied
The roof has closed for the first time on Lucas Oil Stadium, and we now have a timetable for the demolition of its predecessor, the RCA Dome. Its last general event, the Fire Department Instructors Conference, has come and gone, as has its last sporting event, Supercross. Bit by bit, its innards are being dismantled. The pace will quicken throughout the summer. In August, the Teflon dome will disappear from the city skyline and shortly thereafter, the walls and the…
Davis Homes faces lawsuits; DayMarc out of business
A depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC–a
powerhouse for years that now is facing foreclosure on about 80 home sites.
Turnaround specialists in demand: Economy creating opportunities for Periculum Capital, other firms
Even storm clouds have silver linings, if you know where to look. Likewise, even a slowing economy has market opportunities, for those who can adjust. Economists haven’t agreed yet about whether the U.S. economy has slipped into recession. But Indianapolisbased investment banking firm Periculum Capital Co. LLC isn’t waiting for the official call. Known since 1998 for its expertise in corporate finance and mergers and acquisitions, Periculum is beefing up its expertise in business restructuring. “Most people who build businesses…
Local firm signs landmark sports events deals: Providing five-star services seen as key to growth
A local company that sells ticket and event packages associated with major sporting events has secured groundbreaking deals with the Ryder Cup and Churchill Downs Inc. Indianapolis-based Sport Events Ltd. will be one of the first two companies to sign an official deal with Churchill Downs to sell ticket and hospitality packages to the Kentucky Derby, run this year May 3. Previously, the fabled racetrack had chosen to run everything-including corporate hospitality-in-house. “In many cases, these properties have realized that…
Have Colts already outgrown new stadium?: Team has long waiting lists for suites, season tickets
Escalating demand for corporate entertainment space during Indianapolis Colts home games has team owner Jim Irsay wondering whether Lucas Oil Stadium should have been built with more luxury suites. “Quite frankly, I wish we built 30 or 40 more suites,” Irsay told IBJ during a recent interview. There’s good reason to think the Colts have outgrown the stadium-even though it’s still four months from completion. The Colts long ago sold all 142 suites for the venue, and have a waiting…
VIEWPOINT: Is Indiana prepared for recession?
Each day, the headlines are filled with r e c e s s i o n – r e l a t e d news. Some predict a pending recession, while others outline pre-emptive actions of the Federal Reserve, Congress and the president. During the 2000-2002 recession, Indiana did not perform well. Indiana lost more jobs than the national average, and its recovery lagged behind the nation’s. In fact, Indiana’s jobs still have not recovered to the pre-recession level. If…