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Hanging out at the art world’s water cooler, but don’t know how to break the ice? Here are several topics IBJ has identified that will be on the tips of the tongues wagging in the local arts scene. Read and discuss amongst yourselves. What do you think of Max Anderson’s leadership at the Indianapolis Museum of Art? Since taking over in mid-2006, staff say Anderson is constantly beating this drum: The IMA is a top-10 encyclopedic museum; it’s time we…
A big financial crisis spreads the notion that the interests of Wall Street differ from the interests of Main Street. The “liquidity crisis” of the past few weeks, with its difficult jargon and complex financial instruments, is a prime example. Unfortunately, the notion that the tumult represents a failure of markets is exactly the wrong lesson to take away from this experience. In a nutshell, here’s why. In the past few years, mortgage lenders-ranging from the George Baileytype savings and…
Since the mid-1980s, a lucrative activity on Wall Street has been to pool financial assets and then issue securities representing an interest in these pools-a process called securitization. All sorts of assets are securitized, including auto loans, mortgages, leases, credit card receivables and corporate debt. Investors purchase the “asset-backed” securities and receive the cash flows generated by the underlying loans in the pool. Securitization was a tremendous financial innovation. Before securitization took off, financial institutions often would keep loans on…
More than 18 months after flying out of a bankruptcy reorganization that unloaded $1 billion of debt and costly aircraft leases,
the parent of ATA Airlines still finds landing a profit elusive. Indianapolis-based Global Aero Logistics posted a loss of
$46.1 million in the first half of 2007, according to documents it filed with the Securities and Exchange Commission.
Advertising agency Bradley and Montgomery launched an unorthodox campaign for cable television station MTV last month that is gaining the local firm-and its client-national acclaim. A friend of a friend led BAM officials to the New York-based music television channel, which was looking to promote the release of its show “The Hills” on DVD. BAM officials pulled video snippets from the show, enhanced them graphically, then uploaded the snippets to Web sites such as YouTube.comand Veoh.com. The resulting vignettes can…
In the waning days of August, my son and I drove across America. With Zach’s jam-packed Honda sedan bearing everything a college freshman could possibly need, we left Indianapolis on a Thursday morning and arrived in Santa Barbara, Calif., the following Monday afternoon. In the 2,465 intervening miles, we got a five-day dose of what modern air transportation has denied too many for too long: a chance to think, to listen and talk, and to marvel at this nation’s diverse…
PROFILE TRINA BANNISTER Tasty treat, traditions lead to new business It all started with the sweet-potato pies. Each Thanksgiving, Trina Bannister’s grandmother Ruby would bake dozens of the sweet treats for her large extended family. Bannister and her sisters grew up learning her baking secrets. To honor her grandmother, who died about six years ago, Bannister named her new business in the Indianapolis City Market “Ruby’s Sweet Treasures.” She sells a wide variety of baked goods, from her signature pies…
As Julian Opie’s pop art sculptures get carted away this week, officials are in talks with New York City artist Chakaia Booker
about featuring her work in next year’s public art blowout. Booker’s shtick-sculptures created entirely from used tires.
In 2006, the Indiana Economic Development Corp. closed almost 200 transactions. Many recipients of the IEDC largess marked the opening of their job-creation activities with hightech galas featuring products rolling down gangways accompanied by the applause of dignitaries and well-wishers. Recognizing that attendance at these ceremonies was not an efficient use of time, the IEDC adopted the mantra, “We don’t cut ribbons, we just cut deals.” With rare exception, ribbon-cutting was left to the politicians. Last month, I participated in…
You have an auto accident, but you have insurance. You’ve religiously paid your premiums, so when you arrive to pick up your repaired vehicle at the auto body shop, you are shocked to discover that your auto insurance company has gone under, the shop hasn’t been paid, and it won’t release your car. At this point, despair sets in, but is soon replaced with hope in the form of the guaranty fund systems in place to cover claims of insolvent…
The Indianapolis Colts rout of the New Orleans Saints last night likely led to a drop in television ratings for the National Football League kickoff game compared to the last two years. Twenty-one percent of all television households nationwide tuned into the game, but that’s down from last year’s Pittsburgh Steelers-Miami Dolphins season opener, when […]
Moody’s Investors Service has slapped Conseco Inc. with a downgrade of its senior debt to “negative” from “stable.” The change was sparked by “sub-par earnings” in the past year, according to Bloomberg. Moody’s also is concerned about a string of one-time charges the company has sustained. The Carmel insurer lost $65 million in the second […]
Locally based Lauth had a big week. They announced plans for a 7.1-million-square-foot distribution park on 555 acres at Interstate 70 and State Road 39 near Plainfield. But lately the company…
Chase Education Finance announced today that it will hire as many as 150 of the 265 workers laid off in Indianapolis yesterday by student loan company Nelnet. Chase Education Finance is adding the workers in an attempt to boost its capacity to originate student loans, the bank said. The Chase unit has 250 workers based […]
FoxConn Electronics Inc., an electronics assembly and storage company based in Taiwan, will create 1,400 jobs at its computer assembly site in Plainfield, Indiana Gov. Mitch Daniels said today. In late 2005, Foxconn signed a lease with Duke Realty Corp. for 259,260 square feet of a 481,874-square-foot industrial facility in Plainfield. The new location allowed […]
M-Plan Inc., central Indiana’s largest health maintenance organization, will phase out its HMO coverage for employers and is referring its clients to Anthem Blue Cross and Blue Shield. Anthem’s parent company, Indianapolis-based WellPoint Inc., made the announcement this morning. It said M-Plan covers 125,000 customers through its commercial HMO. A press release said that M-Plan […]
M-Plan Inc., central Indiana’s largest health maintenance organization, will phase out its HMO coverage for employers and is referring its clients to Anthem Blue Cross and Blue Shield. Anthem’s parent company, Indianapolis-based WellPoint Inc., made the announcement this morning. It said M-Plan covers 125,000 customers through its commercial HMO. A press release said that M-Plan […]
Eli Lilly and Co. spent nearly $2 million in the first half of 2007 to lobby the federal government, the Associated Press reported today. The Indianapolis-based drug maker lobbied on issues related to patent reform, intellectual property, counterfeiting, prescription drug user fees, health care reform and Medicare, according to the form posted online Aug. 13 […]
American Commercial Lines Inc., the Jeffersonville barge builder, has agreed to buy the assets of Seattle-based Elliott Bay Design Group Ltd. for an undisclosed price. The naval architecture and marine engineering firm employs 60 in Seattle and at its second location in New Orleans. The deal is expected to close by the end of the […]
A long-planned distribution park at Interstate 70 and State Road 39 in Hendricks County can go forward now that Lauth Property Group has closed on the purchase of 555 acres it has assembled at the northeast corner of the intersection. Lauth announced the closing today. As IBJ reported a year ago, Westpoint Business Park will […]
