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INVESTING: Domino effect worsened woes in subprime market

Subprime. Liquidity injection. Volatility spikes. The equity markets have woken up from a long slumber, and the fallout has both short- and longterm consequences. Everyone loves a good mystery, which is why recent stock market events have been attracting so much attention. However, I did my best impression of Sherlock Holmes and believe I have solved the case. Here is how it went down. Two large hedge funds run by Bear Stearns invested heavily in the subprime mortgage market. Delinquencies…

VIEWPOINT: Helping ex-offenders helps all of us

In the June 4 IBJ, Mickey Maurer wrote an insightful commentary on some of the difficulties faced by ex-offenders returning to their communities. An editorial in the July 9 issue called for ex-offender re-entry into the work force as an important next step for the city of Indianapolis. IBJ has focused on a critical issue, and has correctly identified several obstacles faced by returning offenders seeking to reintegrate into society-from housing to willing employers to the need for mentors. But…

A&E: Fringe characters meet Fringe Film

By the time you read this, Gen-Con-one of our town’s largest conventions-will have packed up its multisided dice, folded its cowled costumes, and drunk its final Mountain Dew (at least for this year). How you feel about this convergence of game players will influence, in part, how you feel about “A Great Disturbance,” a feature film to be screened Aug. 17, 24 and 31 as part of Fringe-Film, the new movie component of the 3-year-old IndyFringe Festival. To be clear,…

Colts build reputation for mastering salary cap

The Indianapolis Colts lost a slew of popular players in the off-season who were key to the team’s Super Bowl run. The defections–though
unusual for a championship team–were business as usual for a franchise that has gained a reputation around the league for
its bold personnel moves.

VOICES FROM THE INDUSTRY: New law allows military relatives to take unpaid leaves

Family members of military personnel called to active duty could now spend a little more time with loved ones without worrying about job security, thanks to Indiana’s Military Family Leave Law, which took effect July 1. That’s good news for the work force. But it could be problematic for some companies. That’s why it’s important for both employees and employers to be aware of the facts. 10 days per year The law, which ensures that qualifying employees aren’t penalized for…

Local restaurants joining online reservation trend: High-tech systems tool up customer service

A last-minute meeting with a key client pops up at the end of a workday. If the host wants to take the group to dinner afterward, he could ask an assistant to scramble, calling his favorite restaurants in search of a last-minute opening. But nowadays, there’s a simpler option: With a couple of mouse clicks, he can use an online reservation system to check availability at some of the city’s best haunts. “Businesspeople use [online reservations] the most,” said Kimberly…

OneAmerica methodical in approach to new deals: Flush with capital, local insurer on the lookout for acquisitions

Don’t expect OneAmerica Financial Partners Inc.’s purchase of a $700 million annuity portfolio last month to be its last big-ticket buy. The Indianapolis-based insurance holding company says its executives and heads of its various product lines are constantly on the prowl for acquisitions. But don’t hold your breath for the company’s next deal. Its purchase of annuities from Iowa-based Transamerica Life Insurance Co., announced July 24, took two years to come together. So did its previous acquisition, the 2005 purchase…

Heating-assistance program on the bubble: Agency urges improvements, questions accounting

The Indiana Office of Utility Consumer Counselor has filed a lukewarm response to plans from a pair of local utilities to continue a program intended to reduce gas disconnections in the upcoming heating season. The Indiana Utility Regulatory Commission is weighing whether to continue the 20-month-old “universal service” programs offered by locally based Citizens Gas & Coke Utility and Evansville-based Vectren Corp. The programs are funded by the utilities and ratepayers. They amount to the secondlargest source of funds in…

SPORTS: Plenty to chew on for sports fans of every stripe

You leave town for a little vacation, but that doesn’t mean the world of sports is going to stop spitting out news. Therefore, thoughts about this, that and the other while I was away: News item: Barry Bonds breaks Henry Aaron’s home run record. Thought: Yawn. I ceased to care long ago. Major League Baseball has gotten what it deserved for ignoring the steroid issue for so long. News item: Tiger Woods wins his fourth PGA Championship, his second in…

Will Indy get an IKEA?

That’s a popular question around here. Has been for years. The city is not currently in discussions with the Swedish home furnishings giant, said Jim Garrard, Indy’s economic development director. But it was…

Indiana in recession, forecaster says

Indiana has been in recession since late last year but is on a trajectory to climb out this fall, according to Moody’s Economy.com, a national forecasting company. A computer model based on employment and industrial production also shows that the manufacturing-intensive metro areas of Anderson, Muncie, Elkhart and Michigan City are in recession, Economy.com said. […]

Steak n Shake investor seeks board seats

A Texas-based investment group disclosed in a regulatory filing this morning that it has amassed a 5.8-percent stake in The Steak n Shake Co. and wants two of its representatives added to the struggling company’s board. The group includes San Antonio-based Lion Fund and Western Sizzlin Corp., a steakhouse chain based in Virginia. According to […]

Marbaugh acquired by Florida company

Indianapolis-based Marbaugh Reprographics Supply Co. has been bought by Global Imaging Systems Inc., a Tampa, Fla., firm that was acquired by Xerox Corp. in May. Marbaugh sells and services wide-format copiers. The downtown company also scans, prints and offers other reproduction services. Former Marbaugh co-owner Brad Clough will be vice president and general manager.

St. Vincent exec named to Michigan position

Patricia Maryland, chief operating officer of the Indianapolis region of St.Vincent Health and president of St.Vincent Indianapolis Hospital, has taken a new position overseeing marketing in Michigan for Ascension Health. Ascension Health, the nation’s largest Catholic and not-for-profit health system, is based in St. Louis. St. Vincent Indianapolis Hospital will name an interim president.

Indiana rated more favorably for business costs

Indiana ranks 36th in this year’s annual “Cost-of-Doing-Business,” an index compiled by the Milken Institute, a California think tank. Last year, Indiana placed 33rd. The ranking is a modest win for Indiana Gov. Mitch Daniels, who has focused much of his effort on lowering the cost of Hoosier business. The index considers states’ costs of […]

Westfield OKs expanded Eagle Station project

Westfield town councilors have unanimously approved an expansion of multi-use development Eagle Station to 997 acres, up from the 856 acres approved last year. The project now could include 2,230 single-family houses, 800 apartments and a number of businesses, according to the Noblesville Daily Times. The developer, Westfield-based Wilfong and Kreutz Land Development LLC, has […]

IRL extends Iowa race deal two more years

Iowa Speedway today at the Iowa State Fair announced a two-year extension with the Indy Racing League to host the Iowa Corn Indy 250 through 2009. The Iowa Corn Growers Association will remain as title sponsor for the races. The announcement was made by ABC/ESPN racing analyst and former NASCAR driver Rusty Wallace, who designed […]

Auto suppliers to hit ‘devastating’ stretch, expert says

Hundreds, and possibly thousands, of auto parts suppliers could be forced out of business within five years as Detroit automakers continue downsizing to bring costs under control, Farmington Hills, Mich., consultant Laurie Harbour-Felas told Bloomberg. “Some of these suppliers will go into bankruptcy and be bought up in pieces; some will just go away,” Harbour-Felas […]

Eastgate Mall is up for sale, again

The owners of the eyesore formerly known as Eastgate Consumer Mall have put the property back on the market at an asking price of $3.5 million. Dallas-based JTL Capital LLC received…

Scotty’s looking downtown

Scotty’s Brewhouse, the Indiana college town institution, is working on plans for new restaurants in downtown Indianapolis, Chicago and Charlotte, N.C. The restaurant would like to locate at Pan Am Plaza, said…