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Indy house prices unlikely to slide further, report says

Odds of house prices in the Indianapolis area dropping further in the next two years are low, according to a report by PMI Mortgage Insurance Co. The metro area has an 8.4 percent chance of seeing its average sale price decline by the middle of 2009, the Walnut Creek, Calif., company said. That’s optimistic compared […]

What next for Old City Hall?

The Department of Metropolitan Development is seeking two independent appraisals of Old City Hall, the historic building that has housed the State Museum and now houses the interim Central Library. In…

Impasse over Crown Hill

Four months have passed since neighborhood pressure helped defeat a second proposal to develop 70 acres at the north end of Crown Hill Cemetery. A partnership of environmental groups including Indy…

BKD pulls out as First Indiana auditor

First Indiana Corp. said today it would delay its second-quarter earnings release because BKD LLP has withdrawn as its auditor. The release had been scheduled on July 19. BKD was hired June 4 when First Indiana announced it had booted KPMG LLP as auditor. On July 9, Milwaukee-based Marshall & Ilsley Corp. said it would […]

McCordsville council rebuffs Target, retail center

A proposal by Indianapolis developer Paul Kite to build a retail center anchored by a Target in McCordsville has been rejected by the community’s town council because it’s in an area zoned residential. The 63-acre project would have been built at the southeast corner of county roads 1000 North and 600 West in Hancock County, […]

Dow Jones, Murdoch’s News Corp. reach deal

Dow Jones & Co., which publishes The Wall Street Journal, and News Corp. have agreed to sale terms, the newspaper reported late last night. Dow Jones’ board will meet this evening, although the newspaper said it is unclear how the Bancroft family, which owns 64 percent of Dow Jones’ voting power, will react. The price […]

Pacers bulk up PR with new contract

Two public relations and advertising firms have been hired by the troubled Indiana Pacers a month after the organization brought in Jim Morris as a special adviser. The local offices of Publicis and Optimedia, both owned by Paris-based Publicis Groupe SA, will provide advertising, strategic planning and communications services, the Pacers said today. The contract […]

Stephan returns to IU as economic development czar

Bill Stephan has been named vice president for engagement at Indiana University, where he wrote an economic development plan three years ago. The announcement was issued today by IU and Clarian Health Partners, where Stephan is senior vice president of community relations and corporate communications. Stephan will be responsible for leading economic development initiatives of […]

KIB getting new headquarters

Keep Indianapolis Beautiful is planning to renovate a vacant industrial building in Fountain Square to serve as its new headquarters. The not-for-profit will seek LEED certification for the 25,000-square-foot building…

Vector Insurance Services bought by Indian firm

Indianapolis-based Vector Insurance Services LLC has been acquired by MajescoMastek of Edison, N.J., for an undisclosed price. Vector, led by founder and CEO Harold Apple, has 30 employees providing policy acquisition, administration, and processing to customers in the North American life insurance industry. MajescoMastek is the U.S. subsidiary of Mastek, a technology giant headquartered in […]

Sparks replaces Pfaff as state development director

The Indiana Economic Development Corp. has named Charles E. Sparks as business development director. Sparks previously led the central Indiana office for the state’s economic development outreach. Sparks replaces longtime development director Christopher Pfaff, who resigned in May to become director of the Center for Business Support and Economic Innovation at Indiana State University in […]

Jischke hit some Purdue goals, missed others

In his seven years as president of Purdue University, Martin Jischke exceeded some of the lofty goals he set but missed others, according to an analysis by the Journal & Courier of Lafayette. Jischke, whose last day was yesterday, raised $1.7 billion in private funds-well over the goal of $1.3 billion. He also made sweeping […]

McBroom Industrial Services: Relationships critical to business survival Repair service keeps evolving to meet customer need

When Hilton McBroom founded McBroom Electric in his parents’ garage in the midst of the Depression, he couldn’t have envisioned that the company would exist 75 years later-or what it would be doing. Back then, McBroom repaired anything someone would pay him to fix. Over the years, the company evolved from repairing washers, dryers and furnace motors (and selling Maytag products) to fixing electric motors in manufacturing machinery to its current concentration-repairing and remanufacturing specialty devices used by industrial customers…

Synagogue project a sign of times: Northward migration of Jews brings temple to county

Some folks consider Congregation Shaarey Tefilla’s move to Carmel historic. After all, its new synagogue at 116th Street and Towne Road will be Hamilton County’s first. To others, it’s simply the latest development in the local Jewish community’s century of northward migration. For Rabbi Arnold Bienstock and his members, it’s a homecoming. “There’s a lot of support here,” he said. “People need that if they’ve just moved to an area.” Carmel welcomed Bienstock with open arms 15 years ago, when…

Huntington consolidates downtown office space: Bank leaving Capital Center after merger with Sky

Huntington Bancshares is giving up its local headquarters in Capital Center downtown now that it has completed its $3.6 billion purchase of Sky Financial Group. The 100 employees based at Capital Center, 201 N. Illinois St., will move to a Sky-owned office building at 45 N. Pennsylvania St. Sky bought the building last year as part of its $321 million purchase of locally based Union Federal Savings Bank. Bowling Green, Ohio-based Sky announced it was being purchased by Columbus, Ohio-based…

Landlord handling of water, sewer bills under scrutiny: Utility commission examining charges to see whether owners operate as utilities

State utility regulators are examining whether operators of apartments and trailer parks are hosing tenants with excessive bills for water and sewer service. The inquiry by the Indiana Utility Regulatory Commission takes aim at decades-old billing practices that include dividing up a complex’s total water and sewer bills among all tenants. The commission said it’s received a handful of complaints over the years alleging rental property owners, or their billing agents, are assessing tenants higher rates than the commission permits…

VIEWPOINT: Domestic ‘insourcing’ our way to job growth

Anchor Lou Dobbs of CNN is a pest to some folks and a hero for others. His recurring economic message laments a view of U.S. workers losing out as companies send jobs overseas. Dobbs’ critics, of course, cite his convenient omission of the many interna tional companies that invest in U.S. communities through new manufacturing plants, research facilities and other initiatives. Love the debate or detest it, but consider this: Hasn’t Dobbs helped stir a discussion about how the new…

FUNNY BUSINESS: Working from home not all Sprite and Cheetos

Being selfemployed and working at home is usually a pretty good deal. You set your own hours and your own dress code (you haven’t seen Casual Friday until you’ve seen Home Office Casual Friday). Snack time is never far away. And if you need to take a break for the 4 p.m. showing of “Hong Kong Phooey” on the Boomerang channel, well, who’s to stop you? But that’s not to say it’s all Sprite and Cheetos. I’m thinking of vacations….