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Flurry of city hotels undergo makeovers: At least a half-dozen properties get big renovations

The managers of many downtown hotels are sinking millions of dollars into their properties, hoping to burnish product that will soon compete with roughly 2,340 rooms in several new hotel construction projects. And while regular renovations are the lifeblood of the hotel industry, experts say the market’s rash of big-ticket overhauls is also a defensive move. The biggest competition for existing hotels is likely to come from the $325 million J.W. Marriott complex, which will include the city’s largest convention…

INVESTING: Exxon Mobil executive wields incredible power

Power is typically understood by those who wield it and those who operate under it. If I took a survey that asked who the most powerful person in the world is today, there would be two or three common answers. But there is a person who is just as powerful, and perhaps more so, than the few names that immediately come to mind. I am talking about Rex Tillerson, chairman and CEO of Exxon Mobil. Up until Nov. 5 (more…

EYE ON THE PIE: Children are central issue for ’08

The election campaign of 2008 can transform our state if the candidates focus their attention on children. We can develop a healthy economy and become a model of civility if we focus systematically on our children. Many people are convinced government spends too much. What they mean is that government spends for services that don’t benefit them or services they wish they did not need. Who wants to spend money on juvenile corrections or adult reading programs for prisoners? Who…

A&E: Skid Stuff at the IMA (via the IMS)

This week, a California artist visits the IMA (via Indianapolis Motor Speedway), a British playwright hits hard at Washington, and a Swedish singing group’s tunes become a Broadway sensation. When you call a piece “2005 Indy 500 Victory Donut: Traces of Dan Wheldon,” you aren’t just suggesting that audiences look beyond your abstractions, you are demanding it. The Wheldon piece is part of “Ingrid Calame: Traces of the Indianapolis Motor Speedway,” the latest exhibition in the IMA’s Forefront Gallery. The…

WTHR general manager departure a stunner

Neither side is talking, but one thing is certain: The removal of the 13-year WTHR veteran known for a sometimes-testy temperament
comes at a crucial time for the local television station.

PROFILE MARIANNE O’CONNOR PRICE: Balanced equation Mother of four excels in careers from engineering to research

PROFILE MARIANNE O’CONNOR PRICE Balanced equation Mother of four excels in careers from engineering to research When Marianne Price graduated from the University of Notre Dame in 1974 with a degree in engineering, she was among the scarce 2 percent of women nationwide graduating in that field. She also achieved something that no other female at Notre Dame had ever done to that point-she was valedictorian of her graduating class. Price, 54, is director of the Cornea Research Foundation of…

Glut of local golf courses puts squeeze on owners: Demand has never quite met expectations

Tiger Woods, the world’s No. 1 golfer, has been great for the sport. But he has not helped attract enough players to the game here and across the country to keep pace with the numbers who are stepping away because of age. That means many local golf course owners are closing the books on another tough season. Some area owners have seen the number of rounds played decline 40 percent since 2000. Golf course values here, meanwhile, have slid about…

Expanded center luring new conventions: City visitor’s association lining up groups, events for new stadium, bigger center

Work on the Indiana Convention Center expansion is at least six months away, but numerous organizations already have reserved their space in anticipation of the larger venue. Construction on the $275 million project is expected to begin next summer and last until 2010. After completion, the center will have 747,370 square feet of tradeshow space, about 253,000 more than it has now, in addition to 183,000 square feet available at the new Lucas Oil Stadium. The Indianapolis Convention & Visitors…

Billboards enter digital era

Remote-controlled digital billboards are revolutionizing the outdoor advertising industry nationwide, but a city prohibition
against the medium is preventing a rollout here.

High-rise in works near canal

A strong demand for student housing downtown is driving a $40 million plan for a high-rise apartment tower a couple of blocks
east of the Central Canal. The developer, a partnership of Fishers-based Paramount Realty Group and Indianapolis-based Alboher
Development Co. Inc., hopes to build the 16-story Paramount Tower on a OneAmerica parking lot.

SPORTS: With the football Hoosiers, it’s one play at a time

I just got an e-mail from a good friend inquiring about where (his speculation was the Insight Bowl in Tempe, Ariz.) the Indiana Hoosiers would play their first bowl game since 1993. I responded with the same line I’ve repeated often. When it comes to Indiana football, I never look further ahead than the next play. It’s a lesson I learned 40 years ago, in 1967. I was fresh out of high school. It always was my dream to go…

EXCLUSIVE: $480M downtown project in works

A development team is finalizing plans for a $480 million mixed-use project that calls for condos, as many as three hotels, a theater and 175,000 square feet of retail space just south of downtown. The project, Legends District-SODO, could be one of the largest private developments in the city’s history. It would sprawl over 11 […]

A downtown transformation

A development team is finalizing plans for a $480 million mixed-use project that calls for condos, as many as three hotels, a theater and 175,000 square feet…

Steak n Shake critics buy billboards

A Texas investment group that thinks The Steak n Shake Co. has been mismanaged is taking its discontent to the masses by buying billboard space in the Indianapolis area. The Lion Fund, which owns more than 5 percent of Steak n Shake, plans to say on the billboards that it wants shareholders to elect two […]

New Jersey distributor scouting Indy area

Medco Health Solutions, a pharmaceutical distributor headquartered in Franklin Lakes, N.J., is seeking locations in the Indianapolis area where it can build a distribution center that would employ hundreds. A site put forward by Indianapolis near the downtown canal has been passed over because it wasn’t large enough, according to a source familiar with the […]

Will ATA leave Indy entirely?

IBJ reporter Chris Oâ??Malley reported last weekend that ATA Airlinesâ?? parent company has quietly moved its
headquarters to Peachtree City, Ga. Global Aero Logistics no longer flies out of Indianapolis International
Airport, but it has other operations here that employ…

Wish Fund snagged in subprime crisis

Indianapolis-based Indiana Children’s Wish Fund has been caught in the national subprime mortgage lending crisis. The small not-for-profit, which grants wishes to terminally ill children, filed an arbitration claim after an investment it had in an intermediate-bond fund lost about $50,000 between late June and late September on an initial investment of $222,812. The bond […]

Arcadia sustains loss, sees revenue rise

Arcadia Resources Inc., the Detroit-area company that last month announced it would move its headquarters to Indianapolis, reported a $9.2-million loss in its second quarter ended Sept. 30. The parent of Arcadia HealthCare had a $735,619 loss in the same period last year. Continuing operations accounted for $4.5 million of the most recent loss, while […]

Brightpoint profit, revenue up on acquisitions

Plainfield-based Brightpoint Inc. posted profit of $13 million for the third quarter, a 47-percent increase from a year earlier. Revenue of $1.2 billion in the period ended Sept. 30 was up 86 percent. The wireless device distributor said results were boosted by its first-quarter acquisitions of Denmark-based Dangaard Telecom and Texas-based CellStar, as well as […]

Royalties, fees propel Noble Roman’s profit

Noble Roman’s Inc. yesterday reported third-quarter profit shot up 58.2 percent, to $2.1 million, on a rise in royalties and fees for the Noble Roman’s Pizza and Tuscano’s Italian Style Subs restaurants it franchises. The Indianapolis company has been on a furious expansion spree-having signed a total of 24 territories to area developers, a move […]