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Emmis Communications Corp. CEO Jeff Smulyan is firing back at an Elkhart investor who held a video teleconference with directors last week to encourage them to sell the struggling company’s properties piecemeal. The investor, Frank Martin of Martin Capital Management, said in a regulatory filing Sept. 14 that the company should seriously consider selling its […]
Matt Gutwein and Lisa Harris drive into work each morning knowing their hospital, Wishard Health Services, will lose half
a million dollars that day. But they’re OK with that. In fact, they’re laying a plan to keep it up for the next 20 years.
Looming large on their to-do list: building a new hospital.
Six years after its $2.2 billion sale to AES Corp.-a deal that generated at least three shareholder lawsuits-IPALCO Enterprises has signaled that more sparks might fly from the long-done deal. An attorney claiming to represent participants in a retirement insurance plan IPALCO spun off and stopped funding six years ago alleges the utility continues to recover from its 468,000 ratepayers millions of dollars a year toward the plan. The letter asserts that Indianapolis Power & Light “is recovering in rates…
Some in the telecom industry think AT&T had the Indiana General Assembly twirled around its finger like a coil of phone cord
last year. It lobbied legislators to rewrite the state’s telecommunications laws so it could more easily deploy its “U-verse”
video product.
Indianapolis has initiated the redevelopment process for Bush Stadium, its shuttered sports landmark. The Metropolitan Development
Commission has hired a pair of local firms for $25,000 to appraise historic Bush Stadium–a first step toward reuse or, more
likely, at least partial demolition.
An open letter to the Indiana Pacers Shawne Williams (boy, are these open letters to Pacers fun): My first question, Shawne: What were you thinking? But then, it’s obvious you weren’t thinking or, if you were, it was only about yourself and not the team or town Here’s something else that probably hasn’t occurred to you: Because of you, the highly respected Donnie Walsh and one of the greatest to ever put on a basketball uniform, Larry Bird, are being…
The Indianapolis Indians this year scored the second-highest-percentage attendance increase in the 14-team International League. The spike could push the team’s profit over $1 million. The AAA farm team for Major League Baseball’s Pittsburgh Pirates scored a 10-percent increase in attendance. The Indians drew 8,383 per game, up from 7,608 in 2006. While attendance for all minor-league baseball teams was up 2.2 percent, the Indians’ ability to beat that trend in a crowded sports market is a testament to the…
Fast-growing local marketing software-maker Aprimo Inc. already has done much of the heavy lifting to ensure its $50 million initial public offering is successful. Now comes the most grueling part. Over the last four years, the company nearly quintupled its sales. In 2006, Aprimo turned its first profit. After lining up Morgan Stanley & Co. to serve as lead underwriter, Aprimo on Sept. 10 filed a preliminary prospectus for the IPO with the Securities and Exchange Commission. Next up: the…
The weekend of Sept. 7-9 was nothing short of world-class here in Indianapolis. I’m not even taking into account the Thursday before, Sept. 6, which featured the Start with Art luncheon in the Convention Center, attended by some 1,200 people. The luncheon kicks off the fall arts season and celebrates the importance of the arts-a theme that will run throughout this column. Later in the afternoon and evening on Sept. 6, our city was the focal point of NFL hysteria…
Residential real-estate broker Andy Tarbutton typically wouldn’t turn down an opportunity to market a home just because a job transfer prompted the sale. But the ripple effects of the woeful housing market are causing agents and the corporate community to rethink the way they handle relocations. Not long ago, employees weren’t usually opposed to making a move to better their careers, because they were almost certain to turn a profit on their homes. Now, they’re afraid they’ll lose equity. “My…
Plans abound to bring new health care facilities to Brownsburg, one of Hendricks County’s fast-growing towns. Some familiar
local names, such as OrthoIndy, St. Vincent Health and Clarian Health Partners, all have claims to land in the Brownsburg
area.
Say the name Warren Buffett around investors, and they get a little star-struck. For more than 40 years, his publicly traded company, Berkshire Hathaway, has torn up the performance rankings. His value-oriented, patient method is probably one of the most copied strategies in the world. The media rightfully put a lot of light on his actions, and his latest step has my attention. When Buffett took the controls at Berkshire Hathaway in the 1960s, it was a textile firm. Today,…
Though it probably should not have been, a recent headline in The Indianapolis Star-$2.7 billion in property untaxed in Marion County-was a bit of a stunner. And more so was an adjoining article revealing nearly half of that property to be owned by churches and religious institutions. In the article, the Rev. Kent Millard, senior pastor at St. Luke’s United Methodist Church, invoked the separation of church and state as justification for St. Luke’s quarter-million-dollar annual tax dodge. And I’m…
Midwestern cities are unlikely to top the list of vacationing hot spots, but they are a popular destination for relocating employees. That’s the consensus from the latest Corporate Relocation Survey conducted annually by Evansville-based Atlas World Group, whose largest subsidiary is Atlas Van Lines, the second-largest interstate motor carrier in the United States. The study revealed that nearly a third of firms, 29 percent, are sending more employees to the Midwest than any other part of the country. Surprisingly, the…
With a spate of market turbulence and a jobs report that counted 4,000 fewer net jobs last month, the discussion inevitably turns to the simple question: Are we heading for a recession? In recent days, Larry Summers, the former Treasury secretary and Harvard University economist, mentioned the possibility before a conference in Europe, and Fred Mishkin, a New York Federal Reserve governor and Columbia University economist, delivered an academic paper describing the potential for pre-emptive policies in the face of…
Four days after Labor Day, the first Christmas catalog showed up in my mailbox. Four. Days. After. Labor. Day. Sometimes, all you can do is shake your head. Now, don’t get me wrong. I love Christmas. I start looking forward to Christmas every Dec. 26. I am a bona fide, certified Yuletide nut. That does not, however, mean I wish to “get a jump” on my Christmas shopping, as the catalog advised. Jump? JUMP? This isn’t a jump. This is…
Finish Line Inc. officials are mum these days, but you can be sure they’re exploring every option they can imagine to avoid closing on the acquisition of Tennessee-based Genesco Inc., at least at the $1.5 billion price they’d agreed to pay. Trouble is, they may not have an out, said John Shanley, an analyst with Susquehanna International Group LLP in New York City. “As far as we can determine, the deal they signed with Genesco is pretty ironclad,” Shanley said….
Ithe process of f n theory, retail, office or industrial location as should putting be as rational and unemotional reality, emotions together a spreadsheet. But in as hard data. can carry just as much weight “People use very sophisticated uildings processes , but in and evaluations to compare b ,” s as much of an art as a science the end, it’ . Smith, CEO eteran Samuel F said industry v Commercial of Indianapolis-based Resource aspect of it Real Estate…
Job searches nowadays aren’t what they used to be, on both sides of the hunt. Looking for a job is a global endeavor now. And looking for employees produces more candidates, but is more complicated. As with so many other business matters, the Web has changed everything. At first glance, it would seem the old want ads page just moved into databases. Monster (www.monster.com) was one of the first companies to offer cyberlistings. The employer pays for the listing. The…
After 12 months of market research, MCL cafeterias discovered younger folks and families aren’t familiar with the taste of
the Mayfield’s Value Plate or the Noon Special. So the company has launched a $1 million campaign to reposition its brand.
