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Size matters to Greenwalt: After cutting ties to construction firm, developer focuses on small projects

Greenfield was up to about $150 million in sales by 2000, when the Greenwalt family sold its commercial construction firm. Founder Max Greenwalt then went to work with his sons Jeff and Lynn at the development company. About the same time, Greenwalt Development tweaked its mission to focus on senior-living communities and medical office projects-scaling back the size of the firm in the process. The leaner company now has $15 million in annual revenue and nearly $14 million in projects…

Navigating the credit crunch: Will subprime woes leave you dry? Here’s what to look for.

For months, we’ve been reading and hearing news about the so-called subprime mortgage crisis and the resulting “credit crunch.” For thousands of families who have lost their homes to foreclosure, the crisis is clear. For most people, however, the impact isn’t so obvious. Beyond those directly affected by mortgage defaults, who else should be concerned about the aftershocks? Some economic forecasters are warning that the subprime mortgage situation and the ongoing weakness in the housing market could linger long enough…

ECONOMIC ANALYSIS: How Wal-Mart fulfills the promise of its new slogan

Economists usually don’t follow marketing slogans, but Wal-Mart’s shift from its “Always Low Prices” slogan to “Save Money, Live Better” caught my eye. The slogan is based on a study by the national consultancy firm Global Insight. During a 2005 conference on Wal-Mart, Global Insight’s economists released a study showing the average American family saved a little more than $2,300 annually by shopping at Wal-Mart. The current marketing campaign uses updated estimates of Wal-Mart’s savings at about $2,500 per year…

A&E: Familiar faces in a familiar ‘Town’

It’s called a ghost light. Little more than a light bulb on a pole, it’s there to keep actors from fumbling around in the dark. And, for the superstitious, it’s there to keep the ghosts at bay. The ghost light is an apt opening and closing image for the Indiana Repertory Theatre’s season-opening production of “Our Town,” a play whose ghosts in act three remind us of the things we mortals miss. And a play whose light shines without the…

Fiercely private developer built strip-center empire

Sid Eskenazi fell in love with the board game Monopoly as a child. Buying and developing make-believe properties with make-believe money inspired the grade-schooler. And he was good at it. So several years later, Eskenazi began playing what he likes to call “adult Monopoly.” He bought one property at a time with real money.

VIEWPOINT: Avoiding Chinese ‘fifth-shipment’ follies

The recent announcement by the Indianapolis company Gilchrist and Soames that it would recall its privately branded toothpaste because of concerns regarding its diethylene glycol content is a small part of a larger global concern about the quality standards of goods made in China. The same week, Mattel recalled more than 9.5 million U.S. toys over concerns about the use of lead paint. Many Indiana firms rely on a steady stream of qualified products from China, so now seems a…

VOICES FROM THE INDUSTRY: It’s OK for philanthropic motivations to be a little selfish

It probably goes without saying that New Yorkers can be, well, a bit difficult. As a fund-raiser for a NYC-based not-forprofit for many years, I encountered my fair share of these folks, which is one reason why I really looked forward to coming back to my home state of Indiana. Having grown up in Indiana, I knew of the kindness and generosity shown to me by neighbors, teachers-even complete strangers-but I’d never lived and worked here as an adult. More…

Hilbert taking on tanning niche

Less than two years after New Sunshine LLC was bought by a group led by former Conseco Inc. CEO Stephen Hilbert, its Australian Gold division has acquired its top two competitors, amassing 80 percent of the indoor suntan lotion market.

NOTIONS: It’s no rant; we need to have a conversation

If you’re reading this column in ink on newsprint, thanks. It’s the medium that inspired me to be a journalist, the one that still lands on my driveway each morning and the one I recycle each Friday afternoon. If you’re reading this column on a Web site, thanks. It’s the medium that’s revolutionized communications, the one drawing droves of ad dollars and the one I can turn to any time to learn what I want to learn as it happens-long…

IRL drops green flag on revenue-sharing plan: Series places no limits on number of teams eligible

The Indy Racing League is going where only stick-and-ball sports have gone before: revenue sharing. In a concept unique to motorsports, IRL officials have floated a plan that will guarantee teams about $1.3 million from series coffers for each car entered full time in the 16-race series. The change means the IRL could pay out $36 million to teams in 2008, $10 million more than it did through prize purses this year. Industry experts think revenue generated by the newly…

VOICES FROM THE INDUSTRY: Mournful tune keeps playing for many lottery winners

When I heard that someone in my hometown of Richmond won $314 million in a recent Powerball drawing, it made me want to offer some unsolicited advice to our new multi-millionaires. Unfortunately for many lottery winners (and others who come into major wealth), they end up playing the same sad songs. After having a few lottery winners as clients, I’ve noticed many similarities in their experiences. It starts out great. One’s wildest dreams can be funded and realized. When one…

Commentary: Get the smoke out of our eyes

Andy Jacobs Jr. wrote in an IBJ column that smoking is an expensive and painful way to commit suicide. He’s right. But he didn’t go far enough. Breathing secondhand smoke at one’s place of employment is also an expensive and painful way to go. The world is beginning to read the smoke signals. Many countries have passed laws to protect their work force from secondhand smoke. Today, you cannot smoke even in an Irish pub. In our country, 22 states…

HHGregg’s debut bruising, but analysts see lots to like:

HHGregg Inc. didn’t pick the most serene of times to go public, and the company’s stock price since its July 19 initial public offering shows it. The shares are trading around $11.25, off 13 percent since their $13-a-share debut. The performance is even weaker if you consider that HHGregg ratcheted down the offering price at the last minute. It had hoped to sell shares in the IPO at $15 to $17 apiece. But if you buy into the company’s sales…

Cincinnati ballet troupe might open regional office here

The Cincinnati Ballet is taking an exploratory step toward a regional ballet company, announcing plans to stage a six-show
“Nutcracker” production here this December. The idea of a collaboration–where the two cities would share production and administration
expenses–has elicited mixed response.

Rising tuition fuels Lumina’s reform agenda

The 7-year-old Lumina Foundation, formed as part of the sale of USA Group, is on a radical mission-to overhaul the way higher
education is funded in this country. The not-for-profit believes the nation’s economic future depends on making college more
affordable, and accessible.

Health care fix may wait for ’08: But other federal bills important to small business are making headway

That’s not what many NFIB members wanted to hear. “I’ve been a member of [the advocacy group] since 1985, and since 1985 the top issue has been health care that is affordable for businesses and employees,” said Barbara Quandt of Indianapolis-based Quality Environmental Professionals Inc. The firm’s health insurance costs increased by 33 percent in 2007, and Quandt said company leaders are “quaking” with dread over what will happen in 2008. QEPI covers 75 percent of insurance costs for its…

Subprime crisis a boon for apartment owners: Fewer renters are fleeing to single-family homes

Many of the banners touting free rent and other promotions have disappeared from Indianapolis-area apartment complexes. The concessions no longer are necessary as more Hoosiers look to rent, and they stay in apartments longer. Market observers say a big reason for the uptick is the subprime housing crisis and a resulting slowdown in new-home construction. “People are staying longer because it’s a little more difficult to purchase a home,” said Alexandra Jackiw, president of Buckingham Management LLC, a subsidiary of…

PROFILE HEAVENLY SWEETS INC.: Noblesville bakery still rising Heavenly Sweets to grow in move to ‘new’ location

PROFILE HEAVENLY SWEETS INC. Noblesville bakery still rising Heavenly Sweets to grow in move to ‘new’ location Tanya Marshall grew up in a kitchen, where she baked from scratch, tested recipes and shared a love of food with her family. A former 4-H participant, Marshall’s childhood was spent toiling over an Easy-Bake Oven, spinning cotton candy, freezing homemade ice cream and dispensing soft drinks with her other favorite toys. She’s still in the kitchen, this time as owner of Heavenly…

VOICES FROM THE INDUSTRY: Investing in liquid assets? Try giving water a good look

G e o – p o l i t i c a l events and the media keep our focus on the price of oil, its potential supply interruptions and the need to reduce our country’s dependence on foreign oil. Very little is written or reported about another very strategic resource-water. A top United Nations official addressing the 17th Annual World Water Week in Stockholm last August stated that water is going to be the dominant world issue far into…

EYE ON THE PIE: Give tax relief to those who truly need it

No topic brings me more mail than property taxes. Some of this mail is silly, some is tragic. Many writers are concerned that they or their neighbors will lose their homes because of propertytax increases. This is a serious, legitimate concern. However, it is not a reason to abolish property taxes. Those who are hard-pressed to pay their property taxes are not different from those who have problems paying utility bills, medical bills, and the costs of other necessities. These…