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INVESTING: Buffett’s letter squeezes firms that ‘juice’ earnings

Berkshire Hathaway Inc. released Warren Buffett’s annual letter to shareholders recently. As always, Buffett provided a detailed update of the many businesses and investment positions the company owns. And Buffett added some entertaining commentary on a few topics that are relevant to investors. Under the heading “Fanciful Figures-How Public Companies Juice Earnings,” he comments on two corporate accounting problems: one finally solved, and one that continues to obscure earnings reports. The first accounting injustice was about to be corrected in…

SURF THIS: Mailbox greening: a site to cut catalog clutter

I don’t recycle. There it is. I’ve said it-gotten it off my chest in hope that I might be able to go forward with the rest of my life knowing that my secret shame is now public knowledge. A little like the new governor of New York, I’ve cleansed my sins in a font of public awareness. (Or something like that.) The truth is, I’m not very “green.” I don’t return the milk bottles. I absolutely love paper towels. We…

Premier Properties lays off workers as lawsuits, debt pile up

Premier Properties USA Inc. has eliminated about half its headquarters staff–more than 40 employees–as banks seize several
of its properties and CEO Christopher P. White faces a barrage of new lawsuits alleging unpaid bills, defaulted loans, illegally
redirected rent payments and check fraud.

Charter schools face long wait for county funding: State, local money based on outdated mechanism

The property tax reform plan recently signed into law by Gov. Mitch Daniels is expected to provide relief-eventually-for most homeowners. Unfortunately, the tax crisis wasn’t fixed fast enough for charter schools. Because property taxes haven’t been calculated yet this year, schools didn’t get funding advances from Marion County, something 15 of the county’s 21 charter schools needed last year. At least one school-Irvington Community Academy-has received help from the Greater Educational Opportunities Foundation in getting an emergency bridge loan of…

Taking a 2-pronged approach: Indiana State Museum pushes for bigger internal and traveling shows

The Indiana State Museum is putting more emphasis on developing its own attractions, while still landing some high-profile visiting exhibits-all in an effort to keep visitors coming through the doors. This balancing act between highlighting its internal collection and hosting popular traveling exhibits can be seen through two current shows. One, “Footprints: Balancing Nature’s Diversity,” is already on display and features hundreds of specimens of taxidermied Indiana wildlife and fossils from the museum’s collection. The other, “Radical Lace & Subversive…

Commentary: Israel through the eyes of a visitor

My wife, Janie, and I made some new friends on our recent trip to Israel, including Moira Carlstedt, president of the Indianapolis Neighborhood Housing Partnership. I happily cede my space this week for her observations of the trip. It is like any hospital room in Indianapolis-except you can see the Lebanese border from the window, and you stand amid damage from a Hezbollah rocket that tore through that window. And then you understand the need for the underground hospital that…

Colts, God license plates slice into sales of charity tags

Sales of specialty license plates benefiting colleges, not-for-profits and other Indiana organizations fell by nearly a third
last year after the state unveiled “In God We Trust” tags as a free alternative to the lime-green pastoral fields plates reviled
by many motorists.

NASCAR ponders following IRL’s lead with ethanol: Green marketing a major motivator for race series

The Indy Racing League was the first North American race series to use an alternative fuel to power its cars. Now it appears NASCAR might follow suit-news that has the attention of race fans and sponsors alike. “We’re looking at eight or nine different alternative fuels,” said Andrew Giangola, NASCAR director of business communication. “Ethanol is one of the alternatives we’re looking at.” NASCAR has put no timetable on adopting an alternative fuel. Because the league switched from leaded, petroleum-based…

Zoo counting on koala appeal: Visit by cuddly creatures expected to draw big crowd

Stock up on the eucalyptus leaves. Cute, cuddly koalas will soon be coming to the Indianapolis Zoo. The temporary exhibit will run from Memorial Day weekend through Sept. 1 and feature two of the slow-moving marsupials on loan from the San Diego Zoo. Not since 1994 have koalas been in Indianapolis. The lengthy time lapse, coupled with the zoo’s objective to introduce a new major exhibit every year-whether temporary or permanent-made the native Australian animals a logical choice. “We’re using…

SPORTS: Maybe Crean can help IU fans turn the page

But a mess it is, one that won’t be quickly eradicated. And we all know how patient IU basketball fans are. But an eight-year contract acknowledges that a quick fix is not the expectation. It also says-if those same fans are willing to listen-that the constant upheaval needs to be replaced by a consistency of voice-and excellence. “Indiana has always stood for class … integrity … and for doing the right thing,” Crean said. Well, before it hired Kelvin Sampson,…

Super Bowl bid committee solicits input through Web site

The city’s 2012 Super Bowl bid committee set up a Web site, www.our2012sb.com, in mid-February to encourage input from the
community–adopting a more inclusive approach than organizers did last year when bidding on the 2011 game.

EYE ON THE PIE: It’s the money, not the jobs, stupid

“It’s jobs, jobs, jobs,” presidential and gubernatorial candidates shouted last week in Indiana. And the crowds responded in the affirmative, urging the candidates to promise more jobs for more Hoosiers. OK; jobs are good, but well-paying jobs are better. Since the 1980s, the state has claimed it is interested only in jobs that pay above the average for the area in which they are located. When challenged by the fact that the jobs being acclaimed do not always meet that…

Carmel firm to determine Vonnegut’s worth

Many readers would call the Indiana literary legend Kurt Vonnegut’s legacy priceless. Not Mike Pellegrino. His job is to estimate
future sales of Vonnegut’s work so his estate can be fairly divided today. That means Pellegrino will have to determine whether
the author’s popularity is more likely to wax or to wane in the years to come.

VIEWPOINT: ‘Buy local’ should be rallying cry

In recent months, our governor and mayors across the state proudly have announced business developments and out-of-state companies’ plans to expand or relocate in Indiana. They’ve worked overtime to earn these economic boosts, and they’re to be congrat ulated for helping bolster the state and local economy. But we’re ignoring a simple strategy that could yield many more high-paying jobs: Buy local. Here’s the irony: Pursuing this strategy doesn’t have to cost a dime. No recruiting trips to China, no…

A&E: Local duo creates sticker shock

Anyone with young kids knows the value of a sticker. Whether a reward for a hissy-fit-free afternoon or a gift from a friendly grocery bagger, a sticker is a deceptively simple object that brings a surprising amount of pleasure. I’ll admit, I didn’t give stickers a whole lot of thought until I wandered into Alias, the unique Fountain Square gallery created by Dave and Holly Combs. The couple has been obsessed with stickers since spotting-and pondering the implications of-an “Andre…

Slots at horse-racing tracks may boost meeting space: Hotels in long-term plans if ‘racinos’ are successful

Two thousand slot machines at each of Indiana’s two biggest horse tracks should attract hordes of Hoosiers willing to try their luck on the one-armed bandits. But, ultimately, owners want to add meeting and convention space to capture other business as well. Legislation approved by the General Assembly in 2007 permits the slots at horse-racing facilities Hoosier Park in Anderson and Indiana Downs in Shelbyville. The law paves the way for the creation of what many are calling “racinos”-casinos that…

ECONOMIC ANALYSIS: Sales tax increase helps cut government spending

Indiana’s sales taxes rose a penny this week, to 7 percent. The increase was a necessary remedy to our property tax mess. But it’s worth laying out its impact on our economy. Sales tax is paid by Hoosier residents, visitors and businesses alike. By my estimates, Indiana households will pay $640 million in additional sales taxes, businesses $500 million more, and out-of-state visitors an extra $160 million. The two effects economists might worry about with a tax hike are changes…

Herff Jones buys diploma frame company

Indianapolis-based Herff Jones Inc. has acquired Framing Success Inc. of Virginia Beach, Va., for an undisclosed price. Framing Success supplies custom-made diploma frames, mainly for college and professional certifications. It’s the second acquisition announced by Herff Jones in as many months. In early March, the maker of high school rings, yearbooks and other educational materials […]

NCAA tickets trading like stocks

Day traders have infiltrated the sports ticket market. Interest in Yoonew.com, an electronic ticket exchange where fans can trade sports tickets like stocks, is growing in popularity nationwide. The site gets a significant…