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Speedway’s first cycling race draws national attention: Lance Armstrong-backed event could go annual

The Race 2 Replace bicycle race at the Indianapolis Motor Speedway at first appeared to be just another local fund-raiser. Now, the Lance Armstrong-backed event put on by the professional cycling team he co-owns appears to be rolling up enough momentum to have a significant economic impact on Indianapolis. IMS President Joie Chitwood is calling the Aug. 12 race a “historic day at the track.” Race 2 Replace promoters said the IMS’ first-ever bicycle race is poised to become an…

Indiana encourages agri-tourism efforts:

For Cliff Carley, Sept. 11, 2001, is a date of great personal significance unrelated to tragic events. That’s the day the construction company owner bought a pair of Rocky Mountain elk and began raising the large deer on his northern Hamilton County property near Atlanta. Nearly five years later, Carley Elk Farm hosts Saturday tours for which visitors pay $5 to roam the rural acreage and help feed a herd that numbers about 50. On the way home, they can…

BULLS & BEARS: Markets way too focused on quarterly profit outlook

A new report by the CFA Centre for Financial Market Integrity and the Business Roundtable Institute for Corporate Ethics calls on various constituents in business and investing to break their focus on “shorttermism.” A key recommendation in the report, titled “Breaking the Short-term Cycle,” urges corporate leaders, asset managers, institutional investors and analysts to end the practice of quarterly earnings guidance. This Wall Street ritual is counterproductive on a number of fronts. By itself, the term “guidance” exposes the hypocrisy…

NOTIONS: Forward this to everyone on your list

I hate e-mail. I love the speed. I hate the carelessness speed often breeds. I love the informality. I hate the sloppiness. I love brevity. I hate it when brevity is seen as brusque. I love brevity. So I hate it when brevity is blown off For e-mails that go on, And on, And on, Asking me to address five major points, And 17 sub-points And 53 sub-sub points By “simply” hitting REPLY. I love brevity. So I hate having…

Indiana Ice looking to build new arena: Hamilton County targeted for $25M, 5,000-seat facility

Indiana Ice owner Paul Skjodt is rolling out a plan to build a 5,000-seat hockey arena in Hamilton County to keep his team skating into the black. If he pulls it off, he could be the first franchise owner to achieve long-term financial stability in Indianapolis’ seven-decade hockey history. To fortify his effort, Skjodt recently hired a vice president of sales and marketing-someone with experience launching new arenas-and launched a grass-roots marketing campaign he hopes to parlay into profitability. Skjodt,…

State awarenesss initiative targeting investment fraud: Program touts knowledge to prevent financial scams

Conservative estimates put the amount of money Hoosiers are bilked by investment fraud scammers at $100 million a year. The high-end estimate for victims of pyramid scams, bogus gas and oil ventures and unscrupulous mortgage practices is closer to $800 million. Those involved in catching and prosecuting the scammers say proactively educating people about investments in general and scams in particular would go a long way toward helping the problem. “Our financial illiteracy is high,” said Mark Maddox, managing partner…

EYE ON THE PIE: Too much manufacturing is not Indiana’s problem

We know that, relative to the United States, Indiana is neither a rich state nor one growing with vigor. Two weeks ago in this space, I discussed our more recent employment experiences. A friend read the column and asked, “How much of our lack of job growth is due to the slump or collapse in manufacturing jobs?” Nationally, only three states (Nevada, and the Dakotas) had any gain in manufacturing jobs between May 2001 and May 2006. Alaska and Wyoming…

SPORTS: Can U.S. pros reach the world hoops summit?

Team USA gathered in Las Vegas this past week to begin its attempt to reclaim America’s rightful place-which would be first place-in international basketball. Imagine, American hoopsters with a hill to climb. Who’d a thunk it? Well, me, for one. Anyone who was paying attention to international hoops-and I happen to be an aficionado-could see that America’s dominance, so pronounced when the 1992 Olympic Dream Team pounded hapless opponents on its way to the gold medal, was slip, slip, slipping…

ECONOMIC ANALYSIS: Education does matter in today’s labor market

Here’s an update from the American labor market: Paying attention in school really does matter. Getting good grades and going to college is a big deal. What you study and what you learn will affect the rest of your life. Parents have been telling their kids that for a long time, and some of us even listened. But the message above isn’t from a speech or a lecture. It comes from evidence provided by the U.S. economy, in particular the…

VOICES FROM THE INDUSTRY: Consumers rarely raise banks above commodity status

Toothpaste. Laundry bleach. Cat food. Banking services. Despite the hopes of many bank executives, vast numbers of consumers rarely elevate their banks beyond everyday commodity status. Through traditional advertising and marketing, many banks attempt to differenti ate themselves as the bank of choice or the bank that makes a difference. Repeat the tag line often enough and hopefully potential customers will start to believe it. One fact underscores this unfortunate commodity service status: According to recent market research, the No….

Hispanic radio stations are singing new song: New general manager making major changes

Russ Dodge is used to scaling cultural barriers. For 17 years, Dodge, who is white, was a sales manager at WTLC, one of Indianapolis’ top radio stations targeting blacks. Dodge was central in numerous community outreach efforts at WTLC. As the new general manager of two Indianapolis Hispanic radio stations, Dodge is attempting to hurdle not only another cultural divide, but a language barrier to boot. Dodge, 54, took the helm of WEDJFM 107.1 and WSYW-AM 810 in April, and…

MainSource grabs opportunities for growth: Greensburg-based bank not shy about acquisitions

Honda Motor Co.’s decision to build a massive auto manufacturing plant near Greensburg has the small Decatur County town abuzz with excitement. But a company already entrenched there is making some noise of its own. MainSource Financial Group Inc. has increased assets an impressive 50 percent during the past year largely due to four acquisitions made by the publicly traded bank holding company. “We’re a little opportunistic,” admitted MainSource President and CEO James Saner. “We really want to grow, give…

CHRIS KATTERJOHN Commentary: Newsman reflects on iconic past

One of the great things about being a newspaperman is that you get the inside scoop on everything. Even more so than reporters, editors have a unique perspective because they are in on the details of all the big news that’s breaking. They are also privy to lots of information and background that doesn’t end up in print for one reason or another. So it is with a sense of collegial empathy that I highly recommend an upcoming book by…

INVESTING: The bearish American shopper will punish retail stocks

I don’t like to shop. I do know, however, that I am in the tiny minority in this regard. We’ve elevated shopping in this country to a level that probably ranks higher in importance than family, religion and health. The American consumer is such a force that we make up 20 percent of global GDP. That’s right, for the entire world! I should think, then, that slowdowns announced by companies like Wal-Mart and Target would be headline news. Of all…

New fiscal year, no cuts for IU School of Medicine: But concern remains about funds for future growth

No layoffs. No seven-figure budget cut to sweat through. IU School of Medicine Dean Dr. Craig Brater had many reasons to raise a toast this month, when a new fiscal year began and the school left behind an old one marked by the worst budget cuts in decades. Indeed, Brater said he is breathing a little easier as the school starts fiscal 2006-2007 with a budget of more than $815 million. An increase in clinical revenue and grant money helped…

Ivy Tech to offer mortuary science degree

Ivy Tech Community College will train students in mortuary sciences, filling a void left when Indiana College of Mortuary Science kicked the bucket several years ago.