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The fact that Pacers Sports and Entertainment has tapped Jim Morris as special adviser shows how daunting the franchise’s
challenges have become, marketing experts say. They say the team’s problems on and off the court have shrunk its fan base
and weakened support among business and government leaders.
Morris has no point guard skills I’m aware of and, ultimately, it will be up to the new head coach, O’Brien, to improve the on-court product in a way that’s more palatable to the Pacers’ eroding fan base. But as a point person in engaging the community-in particular the corporate community-there are few, if any, people in this city who have both the contacts and the respect of which Morris can boast. Even after five years away from Indianapolis trying…
Many people expected the 2007 season to be the swan song for Verizon Wireless Music Center after venue owner Live Nation put
the the popular amphitheater on the block in December. But no acceptable offers have been received, and several local brokers
say the unofficial asking price of more than $40 million is outrageous.
The humidity and mercury are rising as a slew of summer music festivals tune up. There’s bluegrass in Brown County, jazz in Military Park. But all the music events-even those with years of history-struggle to break even. Blame uncertain weather, large price tags and fickle fans. “As a general rule, only very large pop music festivals make money,” said Christopher Hunt, a professor at Indiana University’s arts administration program. “Smaller festivals of every kind-jazz, pop, classical-almost always lose a good…
Here is a test for you. The state government sends you a check for $2.5 million. What do you do with the money? According to the Associated Press, Sabrina Walker received such a check from the state of Minnesota. She then “bought a $500,000 certificate of deposit, funded two retirement accounts, [and] bought a $500,000 Treasury bond.” Prosecutors claim she also bought $5,500 in jewelry, and spent $3,817 at Best Buy and $2,000 on limousine services. This prudent woman is…
Carmel-based Oak Street Mortgage, which not long ago was a high-flier poised to go public, filed for Chapter 11 bankruptcy this morning in federal court. Oak Street in December sold most of its assets to Kansas City, Mo.-based Novastar Financial Inc. amid a meltdown of the sub-prime mortgage market. Subprime lenders like Oak Street make […]
Attendance at Conner Prairie’s first two events of the summer has shot up, boding well for total attendance numbers in 2007-the museum’s second year of independence from Earlham College. More than 8,000 guests showed up for Civil War Days, a two-day reenactment event, in late May, a 166-percent increase over the previous year, when rainy […]
Not that this will come as much of a surprise to cynical motorists, but gasoline prices are likely to stay high this summer, according to oil refining firm Countrymark Cooperative LLP. Yes, it’s the usual reasons-refinery problems, geopolitical tensions, OPEC production restrains and summer travel demand. And, yes, the hurricane season could disrupt production. “The […]
The Metropolitan Plan Commission in Muncie last night unanimously approved rezoning 35 acres for a life science facility that would cost $70 million and create up to 170 jobs. However, the identity of the company or organization planning the project wasn’t made public, according to The Star-Press of Muncie. Speculation is circulating in the city […]
Since crews finished clearing the old Atlas Supermarket site in March, the corner has been conspicuously quiet. The lack of construction work has helped fuel speculation that the deal for a Fresh…
A private college system plans to move into the Lexington project at Meridian and 12th Streets downtown. Brown Mackie College has executed a lease for 25,000 square feet in the 1921 building that…
Lauth Property Group may have ended its contentious battle with Bloomington billionaire Bill Cook this week to develop the $382 million French Lick casino and hotel project, but its real battle involving the Orange County resort may have just begun. The Indianapolis-based developer still faces a breach-of-contract claim seeking $100 million by Chicago-based Merit Management, […]
Chuck Schalliol, the state’s first budget director, will join Baker & Daniels next month, the Indianapolis law firm said today. The former Eli Lilly and Co. executive and BioCrossroads president, who is trained as a lawyer, will focus on life sciences, venture capital and corporate finance.
A group of private equity firms has upped its offer to buy Biomet Inc. after a Maryland shareholder advisory firm urged shareholders to reject the original bid of $10.9 billion. Biomet said today it accepted the $11.4 billion offer from LVB Acquisition LLC, Goldman Sachs & Co., Kohlberg Kravis Roberts and Texas Pacific Group. The […]
Minor injuries sustained by Poindexter Excavating Inc. employees on Friday resulted in the Indianapolis company stopping site work at the Honda Motor Co. assembly plant at Greensburg until Tuesday. A piece of equipment hit a truck, although the exact cause couldn’t be determined, according to the Greensburg Daily News. Work has resumed on the $550 […]
First-quarter sales at stores open at least a year fell 3.9 percent for Finish Line, the Indianapolis shoe and clothing retailer reported today. However, its Man Alive stores saw a 0.6-percent increase. Finish Line said it anticipates reporting a loss of 9 to 11 cents per share when it reports on June 28 financial results […]
Commissioners in Shelby County have voted unanimously to not pay $1,431 in matching funds to Indianapolis Metropolitan Planning Organization. One commissioner, Tony Newton, told the Shelbyville News that Marion and Hamilton counties “created their own problems up there, and they are trying to get other counties to bail them out.” The organization, which is studying […]
Verus Partners LLC of Rosemont, Ill., has filed a request to ask the Hancock County Area Plan Commission to rezone 228 acres near Mount Comfort Airport to light industrial from institutional. The Chicago-area commercial real estate development company said the property no longer fits into the airport’s long-term plans, and that it wants to launch […]
The warring partners in the $382 million French Lick Resort and Casino are parting ways. Locally based Lauth Property Group has agreed to sell its 50-percent interest in the venture to an affiliate of Bloomington billionaire Bill Cook, the companies announced Wednesday night. The deal would give Cook affiliates full ownership of French Lick Resort […]
