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Beware stock investors: Credit problems remain INVESTING:

Seemingly unbeknownst to the stock market, problems continue to lurk in the credit markets. Regulators are concerned about the market upheaval caused by structured investment vehicles. Large banks set up SIVs as off-balance-sheet investments to leverage their investment capital and earn higher returns. There are reportedly some 30 SIVs with $400 billion in assets. SIVs employ a simple strategy to make money: They borrow short term (at low rates) and invest in longer-term securities (at higher rates), thereby earning the…

A&E: Beckmann benefits while McLaughlin comes home

The Beckmann Theatre has an impressive board, a unique mission and, judging from the benefit performance staged Oct. 15 at the American Cabaret Theatre, the goodwill of a strong talent pool. What it could use are some actual theatrical productions. Launching in 2002 and carrying the name of Bob Beckmann, the late arts and civic leader who helped transform downtown, the Beckmann Theatre has offered about a show a year, plus a handful of readings, since its inception. The company’s…

WellPoint adjusts to executive exodus

Fifteen senior executives have left WellPoint Inc. since November 2004, when the giant health insurer formed through Indianapolis-based
Anthem Inc.’s $16.5 billion acquisition of California-based WellPoint Health Networks Inc. The merger made many of them rich,
work at WellPoint was grueling, and personal commitments called. So they moved on.

VOICES FROM THE INDUSTRY: Everybody’s busy playing the real estate blame game

There’s a game that takes place in most families with young children. You may be familiar with it. It’s easy. Mom’s cherished (insert any household item here) develops a large chip. Mom sees the chip. Mom begins the interrogation: Who did this? “Not me,” says Johnny. and Wall Street. After all, they’re the ones that loaned the money. It was too easy to get a loan, the critics say. People were buying homes and building developments with high-priced coffee shops…

VIEWPOINT: Reform won’t require constitutional rewrite

In July, when Gov. Mitch Daniels appointed the Commission on Local Government Reform to search for ways to streamline and modernize Indiana’s system of local government, he recommended considering every option for bringing government into the 21st century. And he raised one particularly dramatic option: convening a convention to rewrite Indiana’s constitution, a document that has been amended often, but never rewritten, in 156 years. Times were different in 1851, when Indiana enacted its constitution. The state had fewer than…

‘Aggressive moves’ feed Flaherty & Collins’ growth: Local apartment developer gaining national foothold

David Flaherty and Jerry Collins left comfortable vice president gigs at a local real estate firm to strike out on their own in 1993. Roughly two years passed before the two former Revel Cos. executives received another paycheck. But the gamble eventually paid off handsomely. Indianapolis-based Flaherty & Collins Properties has become a nationwide player in apartment housing, with a staff of 412, a development pipeline of $500 million, and more than 13,500 apartment units under management. Flaherty and Collins…

NOTIONS: Learning while teaching the college freshmen

I spent two days last week in Bloomington, visiting my alma mater. I walked tree-lined paths I walked 30 years ago, spoke from the front of an auditorium where I once faded into the middle-row masses, grabbed pizza for dinner with some journalism students and their professor. In my lectures, I told the undergrads how I got from there to here. How, at their age, I had no idea what I wanted to be when I grew up. How a…

Carmel claims victory in latest annexation court case:

Carmel has another appellate victory on the issue of annexation after an Indiana Court of Appeals ruling on Oct. 17. The state’s second-highest appellate court decided that the city adequately proved it could afford to annex part of a nearby community into its municipal borders, and that a Hamilton County judge erred in auditing a financial plan and ruling in favor of the remonstrators. The unanimous decision in City of Carmel v. Certain Home Place Annexation Territory Landowners, No. 29A04-0510-CV-578,…

Ducati dealership opens in Zionsville:

Ducati, an Italian maker of sporty motorcycles, has opened a dealership at 4629 Northwestern Drive in Zionsville. It will debut Ducati’s most popular line of motorcycles, including the 2008 lineup of 1098, Hypermotard, Sport 1000 SE and many others, said Bill Carr, the local store’s general manager. Bill’s son, Matt Carr, is the service and parts manager. Matt, a graduate of Orlando’s Motorcycle Mechanics Institute, has raced motorcycles for more than 10 years. Matt is a Ducati- and Ohlins-certified mechanic…

Ex-Duke exec, wife tackle senior housing: Horns have nationwide plans for The Stratford Cos.

Richard and Wendy Horn have had their share of separate real estate successes. Now, they’ve combined their corporate talents as a husband-and-wife team to lead an upstart senior housing developer. Richard joined The Stratford Cos. in May 2006 as chairman and CEO, and has since moved its headquarters from St. Louis to Indianapolis’ north side in Parkwood Crossing. He is known within commercial real estate circles as a former veteran of Duke Realty Corp., where he enjoyed a two-year stint…

Swancy’s Auto Laundry: Car wash does work the hard way Don’t look for automation at 88-year-old Swancy’s

“It’s sort of the last of the old-time car washes,” said longtime customer Turner Woodard, an Indianapolis businessman and antique car collector. “You can just sit there, read the paper and watch your car get washed … and dried by hand.” No question, Swancy’s is one-of-a-kind. It has been operating at 934 N. Senate Ave. since 1942. For 23 years before that, it was located on a long-vanished alley nearby. It has been owned by the same family for 88…

Washington Township tests anti-tax mood

A north-side Marion County school district is reigniting the property-tax furor by rolling out a plan to spend as much as
$200 million on renovations and new construction. Washington Township is the first school district in the county to unveil
major capital projects since residents howled in protest last summer against property-tax increases that averaged 35 percent.

City ready to launch bid for USA Basketball

Indianapolis is poised to launch a bid
to attract USA Basketball’s headquarters from its Colorado Springs home. The not-for-profit national governing body for men’s
and women’s basketball in the United States recently put out a request for proposals for a new headquarters city.

Parkwood West sets pace for north-side office space: Duke project boasts upscale amenities, top-level rent

Duke Realty Corp.’s $125 million Parkwood West development well may be the new trendsetter for future office complexes along the burgeoning north-side Meridian Street corridor. One West, a five-story, 186,000-squarefoot Class A office building, is the first of three structures rising from the Parkwood West project at the northwest corner of Meridian and 96th streets. The upscale design as well as the added amenities that include a parking garage-rare in the suburban market-could become the rule instead of the exception….

Commentary: Exclusion isn’t a Christian value

Here’s an idea. Let’s establish a chamber of commerce for whites only. Yep, just for “us.” Let’s join forces for further empowerment, more success and greater marketplace impact. It is time we came out of the closet and enjoyed the fruits that living white brings our companies, our employees, and our homes and families. Let’s call it the Indiana White Chamber of Commerce. We’ll get together to celebrate being white and to further our association, serve the community, enhance one…

Indiana Court of Appeals reverses annexation decision:

The Indiana Court of Appeals reversed a trial court’s decision in a northern Indiana annexation case, citing a recent ruling on the subject from the Indiana Supreme Court. In the case, In the Matter of the Annexation Proposed by Ordinance No. 2004-11-38, et al. v. Chris Fetcko, et al., 45A03-0611-CV-549, the city of Crown Point appealed the trial court’s order granting the motion for involuntary dismissal filed by Fetcko and other remonstrators to a city ordinance annexing certain land. Crown…

Embattled city to get lift from resurgence of Remy:

B e a t e n – d ow n Anderson finally has some good auto-related news: Remy International Inc., headquartered in the industrial city of 60,000, is poised to survive- perhaps even thrive-thanks to a bankruptcy reorganization plan that halves its debt, along with other moves that make it more competitive. “Frankly, I think this is a great piece of information for Anderson,” Anderson Mayor Kevin Smith said of the company’s trip through bankruptcy court, which is expected to…

Endowments on rise for small not-for-profits

Leaders of small not-for-profits often are so concerned with day-to-day survival that they have little–if any–time to worry
about saving for the future. A growing number of local organizations are bucking that trend, taking a proactive approach to
build an endowment its leaders hope will result in more stable, predictable income.

EYE ON THE PIE: Save our cities and towns from neglect

Whose face is on the dime? It’s Franklin Delano Roosevelt. That’s no arbitrary choice. FDR had polio as an adult. He fought back and became governor of New York and then the only four-term president of the United States. For two decades, from 1938 forward, The National Foundation for Infantile Paralysis campaigned to fight polio epidemics. Each January, children and adults contributed to the national “March of Dimes” to raise funds for research and treatment. FDR was the symbol of…

Can multilevel marketing cure high drug costs?: Texas firm passing out free drug discount cards in Indiana

Here’s a new strategy to control spiraling drug prices: multilevel marketing. That’s right. A new company called NuLegacy International LLC is deploying the tactics of Amway Corp. to give Americans-particularly those without health insurance-a break on prescription drug costs. The Texas-based company’s key selling points? Its cards are free. And they’re good for potentially large discounts off the full price of prescription drugs. Drugstores, in theory, get a higher volume of customers because of the discounts. “The timing is now,”…