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Credit unions resist conversion temptation: Nationwide, some institutions are opting to become banks to spur growth, but Indiana hasn’t joined the pack

None of Indiana’s 210 credit unions has flipped its charter yet, but analysts expect that will change in the coming years. “Credit unions were formed because there weren’t enough convenient banking resources for certain consumers,” said Mike Renninger, principal of Carmelbased Renninger & Associates LLC, a banking consulting firm that specializes in mergers and acquisitions. “Today, it’s a very different mission. There is a tremendous availability of financial services.” Credit unions that convert lose tax advantages that come with mutual…

Angie’s List CEO wanted shot at WellPoint’s Zagat deal

WellPoint Inc. and Angie’s List are both racing to launch doctor-rating services early next year. But Angie’s List is already
sour over Well-Point’s decision to partner with New York-based Zagat Survey LLC for its doctor-rating service, apparently
without talking to Angie’s List.

Governor playing deal-maker with property-tax plan

The art of the deal is to get more than you give up. If Gov. Mitch Daniels convinces the General Assembly to pass his property
tax plan intact, he’ll meet the definition of deal-maker, and then some.

Clinton’s 401(k) proposal receiving mixed reviews: Experts disagree on whether plan can spur savings

Republican presidential candidate Herbert Hoover promised a chicken in every pot and a car in every garage, leading everyone to believe they would be prosperous under his administration. Fast-forward 80 years and a candidate from the other side of the aisle, Sen. Hillary Clinton, D-N.Y., is offering an incentive more fitting for the new millennium: a match on workers’ 401(k) contributions. Time will tell whether Clinton becomes president and ultimately fulfills the pledge, but what prompted it is Americans’ reluctance…

Commentary: Dungy’s book a real eye-opener

I watched the Indianapolis Colts’ Oct. 22 victory over the Jacksonville Jaguars with a sense of calm I’d never experienced before while watching a Colts game. It wasn’t because I was certain they were going to win-far from it-or because I had been sedated. It was because I had just read Coach Tony Dungy’s best-seller, “Quiet Strength.” No, I wasn’t “born again” while reading. But I was given a much better idea of how Dungy works and how things are…

Businesses may swallow Daniels’ property tax plan despite initial grumbles about its implications:

Businesses are upset about the implications of Gov. Mitch Daniels’ plan to reform Indiana’s property tax system. And while they would certainly bear blows, executives may be discounting one of the proposal’s subtlest selling points: permanent tax stability. “I don’t know if it’s too high or too low. But I do know that it’s locked in stone. And businesses love predictability,” said Matt Will, associate dean of the University of Indianapolis School of Business and director of its Graduate Business…

Bank’s plans unclear after LaSalle buy: Bank of America unlikely to grow local retail biz, but lending office should stay, industry observers say

But here in Indianapolis, where LaSalle’s lone location is a downtown commercial lending office, banking observers don’t expect Bank of America retail outlets to follow. “I don’t think [Indianapolis] will be a primary focus, at least not in the near term,” said Tom Kersting, an Edward Jones analyst in St. Louis who follows the bank. “Their main purpose in making the purchase was getting the Chicago presence. That was the last major market they were lacking.” Even so, observers say…

Emmis’ higher leverage ups pressure on Smulyan:

Jeff Smulyan can do almost whatever he wants with Emmis Communications Corp., since the supercharged shares he holds give him voting control, right? That’s the conventional thinking, but there’s a growing crack in his armor. Because of the company’s poor results of late, debt ratios are creeping up, raising the specter that Emmis will be close to violating covenants with its lenders by next May. That won’t happen, Smulyan, Emmis’ founder, chairman and CEO, told IBJ. “We are very, very…

INVESTING: How to factor weak dollar into investment decisions

The mighty U.S. dollar. There was a time when it really could take you places. When my wife, Sarah, and I went to Rome nine years ago, we felt as if we were stealing clothes from the Italian vendors. We went back a few months ago; the pain was reversed. Our currency is under attack, which is affecting all our lives. Twenty years ago, the United States did a majority of its international trade with a few large European countries…

A&E: Scorned women on stages at IU and Fountain Square

Perhaps the most performed American opera, “Susannah” tells of a good woman brought down by the hypocrisy of her Appalachian town. Spotted bathing nude in a creek by townspeople looking for a spot for revival meeting baptisms, the parentless 19-year-old’s reputation and spirit are soon destroyed by gossip-and the visiting preacher. It’s an opera with sex (implied), death (thanks to an angry brother), religion (including a revival service) and-something you don’t see in many operas-square dancing. What it also has…

Whole Foods and a retractable roof

Premier Properties, the developer of Venu at 86th Street and Keystone Avenue, has acquired a 13-acre property across the street where another developer had planned to build a Whole Foods and condos. Premier…

Saxony map features upscale tenants

Is it a wish list, or are some of the nation’s top retailers eyeing the Saxony project in Hamilton County? Some big names, including Lacoste, North Face and Polo, appear on a map…

Escalade profit rises with increase in sales

Improved sales through specialty retailers and dealers helped lift third-quarter profit for Escalade Inc., the Evansville sporting good maker reported today. The $3.1 million in earnings for the quarter ended Oct. 6 was a 4.6-percent increase from a year earlier. The improvement came despite what Escalade described as eroding sales of soccer and hockey game […]

Analysts step up bullishness on Cummins

Cummins Inc. snagged a couple of ratings upgrades today from investment firms that follow the Columbus-based diesel engine maker. Citigroup recommends holding the stock rather than selling and Credit Suisse rated Cummins “outperform” instead of “neutral.” The changes follow a dip in Cummins’ stock price yesterday after its third-quarter earnings missed analyst expectations. The shares […]

Pacers go man-to-fan with marketing campaign

The Indiana Pacers have rolled out yet another marketing campaign featuring new coach Jim O’Brien-this time using a tactic the team has never tried before. In the days leading up to the Oct. 31 home opener, O’Brien will record a personal phone message inviting certain loyal fans and previous season ticket holders to the game. […]

St. Louis company opens Indy design office

Barry-Wehmiller Design Group Inc., a St. Louis company focusing on manufacturing automation and engineering consulting, has opened an engineering consulting office in Indianapolis. The location, the 10th for Barry-Wehmiller, will serve Indiana, Michigan, Ohio and Kentucky, and will be staffed with 30 professionals. The region had been served from its offices in Chicago, St. Louis […]

Sabatine to lead Ball State development outreach

Ball State University has created a position to oversee its Building Better Communities economic-development outreach efforts. Frank Sabatine, dean of the School of Extended Education, has been appointed to the new position of associate vice president of economic development and community engagement. Before joining Ball State, Sabatine was liaison to the Community College of Indiana […]

David Simon named chairman of mall giant

Simon Property Group CEO David Simon has been named chairman, the Indianapolis-based shopping mall giant announced today. He will remain CEO. Former co-chairmen Melvin Simon and Herbert Simon, who founded the former Melvin Simon & Associates Inc. in 1960, have become chairmen emeriti effective today, and will focus on the company’s international expansion, the announcement […]

Investor urges Emmis to go private

An investor that holds 5.7 percent of Emmis Communications Corp. said today that the stock has performed so poorly that the board should allow the company to be taken private. New York-based Arnhold and S. Bleichroeder Advisers LLC made the request to directors Peter Lund and Susan Bayh, the wife of U.S. Sen. Evan Bayh, […]