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ECONOMIC ANALYSIS: Big Three carmakers’ slide will not be easy to reverse

The last writings of the late novelist Kurt Vonnegut portrayed the Americans of today as “drunk” on fossil fuels. Of course, that’s only partly true. What we’re really addicted to are the machines we pour the fuel into, especially the automobile. We have more registered vehicles in this country than we have drivers. In 2005, we collectively drove more than 3 trillion miles in our vehicles-15,000 miles for each of the nation’s 199 million drivers. And the numbers go up…

New owner takes wheel of Autobase: Virginia-based Dominion provides resources to grow technology

When Bryan Anderson sold part of Autobase Inc. in 2004 to a venture capital firm, the owner of the marketing-software maker felt as though he had sent his unruly youngster off to boarding school to become more responsible. Three years later, after convincing results and a subsequent sale to Virginia-based Dominion Enterprises, Robinson’s offspring has turned into a much more mature and disciplined child. The financial backing of Boston-based VC firm Summit Partners and the guidance of veteran technology executive…

WEDJ one year later: Ratings more than double: Revenue growth pushes Hispanic station toward record

After years languishing as a ratings bottom feeder, WEDJ-FM 107.1 is quickly moving up the radio charts with its Hispanic format and is positioned to crack the market’s top 10 stations. Since local radio veteran Russ Dodge was hired as general manager in late April 2006, WEDJ’s rating for area listeners 12 and older has more than doubled, from 1.0 to 2.1, according to New York-based Arbitron Co. WEDJ’s morning show is ranked No. 3 with listeners ages 18 to…

A&E: At Herron, those who teach, can

One of the things that keeps people from fully engaging with art exhibitions is the sense that the work has to be considered in a vacuum-that it’s not OK to bring your own life to it. I’m not talking about your history with art or anything as highfalutin as that. I’m talking about mundane or not-so-mundane details of your dayto-day existence. To site a very trivial example: On my way out of the office to see the Herron Faculty Exhibition…

EYE ON THE PIE: Indiana property taxes, explained

It was a beautiful sunny Hoosier day and I was delighted to see Faye of the Forest perched on my deck railing. “Hey, Faye,” I said. “What’s up?” “My property taxes are up,” she said, with irritation in her voice but a tear in her eye. “You know my little treehouse. I’ve lived there for years and the taxes keep going up. Why? What is going on?” “I hate to say this,” I said, “but the explanation gets more complicated…

BULLS & BEARS: Don’t expect market assumptions to be true

The other day, a client asked me the following question about the stock market: “How are we going to play the downside when the next president is a Democrat and raises taxes?” That question has three assumptions in it: Presidents who are Democrats raise income taxes. The stock market will drop if taxes are raised. The next president will be a Democrat. For more than five decades, tax rates on personal income have basically been dropping. In the 1950s, the…

Circle Centre doing well except for 4th level

Excluding the fourth floor, Circle Centre mall’s 11th full year of operation was a big success. Profit in 2006 increased nearly
18 percent to $9.3 million, according to an annual report filed with the city. But on the top floor, abandoned bar stools
have now collected four years of dust in the former home of a nightclub complex.

Condo owners in quandary over developer’s offer

The questions these days among residents of Lakes at the Crossing, a quiet community of 77 condos tucked behind a strip center
and an office park along 86th Street at Keystone Avenue, are: Who will sell, and for how much?

PROFILE: Piano Solutions Inc.: Shop singing piano’s praises Shop owners want to give community an arts education

Piano Solutions Inc. Shop singing piano’s praises Shop owners want to give community an arts education Piano Solutions Inc. owners Greg Durthaler and Brian Hostetler like to think they’re in tune with the music industry-all the better to help their clients. The key (so to speak) is to offer a full range of products and services. “Today, we offer tuning, moving and storage of pianos while carrying an array of method books, print music and piano accessories,” Durthaler said. “We…

INVESTING: Tax hikes are just what the bull market doesn’t need

The seed of the next bear market might have just been planted, and what better place than right here in the Crossroads of America. A seed is a tiny and innocent thing. But one tiny seed from a destructive weed can ruin an entire garden. A little background for those who don’t live in Indianapolis (or for those who do but don’t follow local politics): For years, there has been a gaping hole in the promised retirement benefits for retired…

Happily ever after?: How to avoid the roadblocks to financial security

Happily e ver after? How to avoid the roadblocks to financial security In her new book, “The Feminine Mistake,” author Leslie Bennetts cautions women to seriously consider the financial consequences of exiting the workplace to be a stayat-home wife and mom. The former journalist and Vanity Fair writer says “few intelligent people would sink a lot of money into refurbishing a rental, but stay-athome wives think nothing of subordinating their own financial interests to those of their husbands, blithely assuming…

Commentary: We can learn some things from Turkey

Turkey isn’t high on the list of countries Americans visit. Tell friends you’re going to France and they congratulate you. Tell them you’re going to Turkey, and they ask why. They might follow the why with a reference to the movie “Midnight Express,” a 1978 film about an American’s nightmarish experience in a Turkish prison. Midnight Express had such a negative effect on Americans’ perceptions of Turkey that the man who wrote the book the movie is based upon recently…

Blog: Bose move to Chase Tower is official

The long-rumored move for Indianapolis law firm Bose McKinney & Evans is a done deal. The firm plans to take 111,000 square feet of space in Chase Tower, a big expansion over its current 80,000-square-foot space in First Indiana Plaza. The departure of one of that building’s largest tenants is a big blow for owners […]

Bose move to Chase Tower is official

The long-rumored move for Indianapolis law firm Bose McKinney & Evans is a done deal. The firm plans to take 111,000 square feet of space in Chase Tower, a big expansion over its current 80,000-square-foot space in First Indiana Plaza….

Hurry up and wait for MSA

City officials gave developers a tight, two-month time frame to come up with a second round of proposals to redevelop the Market Square Arena site. The RFP was issued Feb. 21, and…

Home Loan Bank veteran named CEO

Milton J. Miller II has been named CEO of the Federal Home Loan Bank of Indianapolis. Miller is a 30-year veteran of the bank who’d most recently served as chief financial officer. He replaced Brian Fike who had filled the CEO’s role on an interim basis since December, when Martin Heger retired. Miller will assume […]

More jobs added in June than expected

U.S. employers added 132,000 last month, according to the Labor Department, a decline from the 190,000 jobs added in May. Economists had expected that 125,000 jobs would be added to employer payrolls. The national unemployment rate matched forecasts, holding steady at 4.5 percent. The state unemployment rate for May, the most recent month available, also […]

Furniture chain eyes 3 Indy stores

A Chicago-based furniture store is planning three new locations in Indianapolis. Harlem Furniture has 16 stores in Chicago and Northwest Indiana. The first central Indiana store, in Greenwood, replaces the old Frank’s…

Wabash unit of Hayes Lemmerz sold

Michigan-based manufacturer Hayes Lemmerz International Inc. has sold its Wabash unit to Harvey Industries LLC of Massachusetts. Financial terms were not disclosed. The Wabash operation employs about 325 and makes intake manifolds, cylinder heads, water pump housings and cast iron exhaust manifolds. Hayes Lemmerz makes automotive and commercial highway wheels, brakes and powertrain components.

Cabela’s owes Texas for falling short on hiring

Cabela’s, the outdoor-goods retailer that recently announced plans for a Greenwood store, has had to repay or forfeit nearly $350,000 in incentives it received from governmental entities in Texas because it failed to hire as many workers as promised at two stores there, according to the Austin Business Journal. Cabela’s has said it will hire […]