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‘Road to ruin’ project may offer exit to businesses: City says INDOT may crack open exit on Interstate 70 for delivery vehicles during reconstruction project

The Indiana Department of Transportation may yet allow a partial opening of one or two Interstate 70 interchanges on the east side during a 10-month reconstruction of the main artery between downtown and Interstate 465. City-County Councilor Mary Moriarty Adams said she’s been talking with INDOT officials and with Mayor Bart Peterson in recent days about the potential harm to businesses of having all the interchanges closed. “We’re hopeful that we can have some exit and/or on ramps open at…

SPORTS: Nice Colts fans? That’s OK-if they’re loyal to team

In the last couple of weeks, I’ve been interviewed by reporters from both the Kansas City Star and the Baltimore Sun. Both were pursuing the same angle: Indianapolis as a pro football town vis a vis Kansas City and Baltimore, and support for the notion that our citizenry in general and Colts fans in particular are “just too darn nice.” My response to both was, well, yes, our folks and fans are nice, but that’s not necessarily a bad thing…

College targets dropouts with new program: Ivy Tech offers high school failures chance to get degree, pursue higher education

Ivy Tech Community College this month launched a pilot program that allows high school dropouts to earn their diplomas while simultaneously working toward a certificate or associate’s degree in college. Intended to improve the state’s labor pool, and as a lifeline to dropouts facing a dismal life in the earnings underclass, it will first be rolled out in Bloomington, Lafayette and Terre Haute. The Indianapolis campus also will offer the program aimed at those 19 or older, although a date…

Columbia Club faces membership, financial issues

The Columbia Club, the tradition-rich enclave where the city’s business elite have gathered and cut deals for more than a
century, is facing declining membership, the departure of its longtime general manager, and looming financial challenges–including
a $5.5 million loan that comes due this summer.

EYE ON THE PIE: Mirror, mirror, which is fairest tax of all?

With some hesitation, I take you inside the men’s rest room at the Statehouse. There, I found a new member of the General Assembly combing his hair over his otherwise empty scalp and asking, “Mirror, mirror on the wall, which is the fairest tax of all?” The mirror responded, “The sales tax is the fairest of them all.” Startled, both the legislator and I looked around, only to hear another mirror say, “No, the income tax is fairest of them…

ECONOMIC ANALYSIS: U.S. job growth improves, but Midwest is wallflower

We are a nation of more than 300 million people, over half of whom are in the civilian work force, with almost 146 million having jobs. So why do we get so excited, or disappointed, when the government scorekeepers report each month about job gains of a mere couple of hundred thousand? Of course, when I say “we,” I mean the tiny group of economists, policymakers and financial analysts who keep track of such things. Most businesspeople, let alone folks…

DOING GOOD: PATTY JONES: Different kind of donation

| Jo Ellen

DOING GOOD PATTY JONES Different kind of donation Patty Jones’ free time isn’t all that free. Last year, she took on more than 100 assignments as a member of Indianapolis Ambassadors. And that’s just for starters. She also volunteered for dozens of activities at Greenwood Christian Church, was treasurer of her neighborhood association and served on the board of Joy’s House, a provider of adult day services. “We all have talents and mine help organizations,” said Jones, 45, owner of…

Regulator pitches first fee hike in more than a decade: The state Department of Insurance plans to hire 10

Indiana’s thinly funded Insurance Department is pushing to raise nearly $1 million by hiking fees it charges insurers for the first time since 1994. The department also plans to shrink agent licenses from four years to two, in order to raise money and bolster continuing-education requirements. Insurance Commissioner Jim Atterholt hopes to win legislative approval this session for the measures, which would add $960,000 to the department’s $5.8 million operating budget and allow it to boost its work force from…

State to privatize mental-health hospital

State officials are advancing plans to privatize a state-run hospital for the mentally ill and now are looking for a not-for-profit
to build and manage a new facility in Indianapolis.

MICKEY MAURER Commentary: A fresh start for this IEDC alum

I’m back. My last regular column appeared in the Indianapolis Business Journal on Jan. 3, 2005. In that column, I announced that I had accepted a twoyear hitch with the Daniels administration as president of the Indiana Economic Development Corp. and that columns would be suspended during my tenure with the state. The editors at IBJ felt that writing a column would pose a conflict of interest with my new responsibilities, and I agreed. It was a good thing; I…

VOICES FROM THE INDUSTRY: Congress, IRS taking aim at college tax practices

Congress and the IRS have taken a number of significant steps recently to increase their scrutiny of colleges, universities and related organizations. What’s the next step? The IRS has already tipped its hand and indicated that it intends to design and initiate unrelated business income tax-or UBIT-inquiries directed toward colleges during 2007 and 2008. This upcoming year will likely usher in a new tax climate focused upon enforcement initiatives and public transparency. The Pension Protection Act of 2006 included several…

INVESTING: Congress’ first 100 hours suggest we’re in for long year

Investors could get shafted from the big guys at the top. The most powerful people in America potentially could fleece the average investor, and the only recourse we might have is hope. No, I am not talking about the outrageous but legal (a contract was signed) exit pay package of the former CEO of Home Depot. I am not talking about the options scandal that eventually wrapped up Steve Jobs from Apple, even though he is worth every penny the…

NOTIONS: A prayer for common sense on the issue of prayer

Dear God, please hear my prayer. We need a little divine guidance here (or at least a few thunderbolts of common sense). I pray today not for relief from the usual litany of woes (You hear enough about those). I ask, instead, that You help us past a nagging distraction so we might move on to more pressing concerns. As You know (because You know all), there’s a lot weighing on us in these little Edens called Earth, America and…

BEHIND THE NEWS: Ex-devotee of Brightpoint now on other side of table

Durham, who bet big on Brightpoint when it was near financial ruin, now is part of a group that is among the largest shareholders in Texas-based Cellstar Corp., a rival wireless phone distributor buffeted by nearly $200 million in losses from 2002 through 2005. In December, Cellstar announced plans to liquidate, with Brightpoint Inc. acquiring the bulk of its business-its U.S. and Latin American operations-for $88 million. Analysts say it’s a savvy deal for Brightpoint, which picks up $450 million…

Getting to know you: Companies are using sites like MySpace to learn much more about job candidates

In today’s Internet age, companies are going well beyond reading résumés and contacting references to check out job candidates. More and more would-be employers are turning to the Web to conduct background checks on prospects. MySpace and Facebook are two hugely popular social networking sites where college and high school students often post risqué photographs and provocative content about drinking, recreational drug use, sexual exploits and other personal conduct. But what some job seekers might mistakenly consider relatively private information…

Local sign makers enjoy brisk business thanks to bank mergers

Bank mergers have proven lucrative for local sign companies over the years. A string of mergers in the late 1980s and early
1990s wiped out the city’s three big national banks–American Fletcher, Merchants National and Indiana National. In the years
since, the industry has continued to consolidate, spawning a flurry of additional name changes.

Suburban builder J. Greg Allen to tackle downtown

J. Greg Allen & Associates has made a name for itself building suburban subdivisions, office buildings and retail complexes.
Now, the developer is poised to tackle a pair of projects downtown.

Business elite back alternative high school: Catholic college-prep Cristo Rey puts students to work to earn and learn

Every other month, it seems, someone announces another promising alternative to the city’s public schools and their low achievement levels and high dropout rates. If it isn’t Indianapolis Public Schools announcing another specialty school within a high school, it’s a new charter school anointed by Mayor Bart Peterson-a number now approaching 20. So one could be forgiven for being a bit cynical about these schools, as parents who can afford to continue to leave the city for better schools. But…