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BEHIND THE NEWS: Paul Harris auditor, accused of negligence, to pay $10M

It was a long time coming, but attorneys for the defunct Paul Harris women’s apparel chain have won a whopper of a settlement-$9.9 million-with the company’s auditor, PricewaterhouseCoopers. In a lawsuit filed five years ago, they accused PwC of “gross negligence” for failing to detect a $7.5 million inventory shortfall and other accounting breakdowns. They charged that the discovery of the discrepancy in the spring of 2001 scuttled the final stages of negotiations to extricate the Indianapolis-based company from bankruptcy…

Allison Transmission might be ripe for management buyout

As struggling General Motors Corp. tries to raise cash by unloading Allison Transmission, the fate of the city’s third-largest
manufacturer hangs in the balance. But analysts say its market dominance, strong management team and abundance of private
equity could spare it the fate of other auto plants here.

Ohio attorney still unscathed by Conseco lawsuits: Insurer trying to collect $150 million in unpaid loans

He’s held off Conseco’s attorneys longer than anyone else. And if he can get to a jury, he’s confident he can win. Dennis E. Murray Sr., a colorful trial lawyer from Ohio, likely will be the last man standing in Conseco’s 3-1/2-year assault on a group of its former directors and officers who failed to repay hundreds of millions of dollars borrowed to buy Conseco stock. The Carmel-based insurance firm has settled with nine of the 11 borrowers in that…

CHRIS KATTERJOHN Commentary: Snowstorms make you wonder

CHRIS KATTERJOHN Commentary Snowstorms make you wonder Television weatherpeople are weird creatures, and I mean that in the nicest way. I know a few of them, and they are very fine individuals. But while most folks get anxious over “weather events” like Feb. 13’s snowstorm, TV weatherpeople get excited, downright giddy. Their eyes gleam with intensity. They become more animated. Their nervous systems crank to high alert. They are like the veritable kid in the candy store. Weather events are…

Car dealers to offer license plates

Hoosiers wanting to avoid the hassle of waiting in line at the BMV will soon have an option, but will have to pay about $20
to use it. The Indiana Bureau of Motor Vehicles is launching a project to allow automobile dealers across the state to provide
title and license-plate registrations.

BULLS & BEARS: Despite myriad challenges, there’s cause for optimism

A week or so ago, I spent a few lovely days at a conference in sunny San Diego while the mercury dropped below zero in the Midwest. For once, my timing was excellent. Weather aside, the days were filled with several thought-provoking speakers. Below is a smattering of takeaways that were interesting enough to share. Paul McCulley, an economist muckitymuck who sits at the right hand of bond investment guru Bill Gross at Pimco, made the observation that the world…

Landlords open up to ‘riskier’ tenants: As foreclosures increase, apartment managers let some credit issues go

Firms that oversee large, upscale apartment complexes used to be able to set the bar high when reviewing potential tenants’ credit histories. Many would turn away applicants with accounts in collections, foreclosures or outstanding medical debts. But even as more people come back to rental housing, landlords are finding they can’t be as picky as in the past because more and more Indianapolis-area residents bring with them credit baggage from unpaid medical bills or home foreclosures. “Maybe 70 percent of…

VIEWPOINT: Don’t put your money into ‘The Big Lie’

If it sounds too good to be true-invest! This perversion of the old adage has cost many investors their life savings. How does it happen? In talking to many investors who’ve been victimized by outright scams, I’ve noticed the tendency of some to respond to what we call “The Big Lie.” Most investors seem to keep their guard up pretty high when approached about investing in a scheme that might return 10 percent, 15 percent or even 25 percent in…

VOICES FROM THE INDUSTRY: Coming to the defense of ‘sprawl’ in the suburbs

Since World War II, strong public policies and economic conditions have led to booming homeownership in America, and rapid expansion of a great highway transportation system has accelerated our country’s suburbanization. We all know the story; we are participants. In the 1960s, it was often referred to as the American Dream. Although never specifically defined, the American Dream always included having a family, a reliable (maybe even cool) car, a nice home of one’s own, and the freedom to work,…

WFYI Teleplex to make $20 million move: Federal tax credit will help pay for purchase of former Indiana Energy building, renovations, equipment

Metropolitan Indianapolis Public Broadcasting Inc. will invest $20.1 million to move its WFYI Teleplex up the street into the former Indiana Energy headquarters, a shift that will give the notfor-profit room to grow and breathe new life into an enormous building that’s been nearly vacant since 2000. The broadcaster will pay $8.5 million for the four-story, 94,000-square-foot building at 1630 N. Meridian St., and spend $11.6 million on renovations and equipment. Funding will come from a hodgepodge of sources, including…

Local software maker teams with Microsoft

Autobase Inc. has inked a partnership with tech heavyweight Microsoft Corp. that might fuel growth for the Indianapolis-based
marketing-software maker. The deal will allow Autobase to piggyback its software on Microsoft’s as the Seattle company launches
products aimed at auto dealers.

Guidelines target design of downtown development: New rules will protect urban character, supporters say

Downtown developments soon will come under extra scrutiny, once new design guidelines are approved in the spring. Known as Urban Design Indianapolis, the process of developing the criteria fell on the shoulders of several groups: the Department of Metropolitan Development, Historic Landmarks Foundation of Indiana, Ball State University’s architectural school and the Urban Design Oversight Committee. The intent is not to mandate to developers that their buildings meet certain design standards, but rather that the cosmetics coalesce with the existing…

STATEHOUSE DISPATCH: Tax reform is tricky, but legislators aren’t giving up

The coming week will bring intense action in both the House of Representatives and the Senate as the chambers complete committee deliberations on bills in their respective chambers of origin. As of this writing, final floor action that would allow bills to cross the Statehouse Rotunda would take place by early in the last week of February. Missing from this session seems to be any real sense of urgency in moving measures through committee and on to the floor of…

ECONOMIC ANALYSIS: Fate of U.S. auto industry is controlled by investors

On the same black Thursday that Borg Warner announced it would close its 780-worker Muncie manufacturing facility in 2009, the price of its stock surged 6 percent. Are the traders on Wall Street heartless, or prejudiced against Muncie, or do they simply like bad news? In truth, none of these answers is probably correct, although we really have no way of knowing. But the divergent reactions of stockholders and workers and their families to the news that nearly a century…

SPORTS: Sports media turns blind eye to coaches of faith

In today’s America, the separation (or lack thereof) of church and state is a political lightning rod. The separation of church and sports is not of concern. That’s because the media already has taken care of it. In the sports media, references to religion in general or of a higher being in particular are not welcome. For athletes or coaches to say their success has come from the gifts given to them by their Creator does not compute in the…

Squabble threatens ABA’s credibility

Rival board members are at war over the future of the American Basketball Association just as the Indianapolis-based professional
league appeared to be on the cusp of breakthrough growth.

Condo project sparks interest in Fletcher Place: Property values rising as Villaggio takes shape

Revitalization efforts had been plodding along for years in the triangleshaped historic neighborhood known as Fletcher Place. The slower pace of development gave the neighborhood just southeast of downtown a lower profile than places like Chatham Arch and Lockerbie Square. But Fletcher Place is under the radar no more, thanks to a massive eight-story condo project known as Villaggio at Page Pointe. The 64-unit building-now the neighborhood’s tallest structure-looks like it could be in Florida, except its panoramic views capitalize…

Interstate 69 corridor luring more distribution buildings: Unlike busy Plainfield market, where projects are huge, Fishers, Noblesville attracting smaller warehouses

Two massive developments with sizable retail components along the Interstate 69 corridor in Hamilton County are helping to spur the construction of several nearby distribution centers. The light industrial space rising near Fishers and Noblesville is unlike the monstrous warehouse projects prevalent west of Indianapolis in Plainfield and popping up within the Anson project near Whitestown. They instead are mediumsize warehouse or showroom space meant for small businesses expected to populate Hamilton Town Center and Saxony at the Exit 10…

NOTIONS: If you want to be your best, Easy Street’s a dead end

I’ve been driving around Indiana with my pal, the professor. For four consecutive Thursdays, we rendezvoused at dawn, grabbed cups of caffeine and headed to the northeast corner of the state to teach grant-writing. Our students, desperately seeking funds for the not-for-profit organizations they lead, were eager to learn and engaged in our lesson. The conversations en route were equally engrossing. We talked about our families and their health, our kids and their activities. We covered politics, sports and our…