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MSA condo interest builds: With sales up, developer hopes to begin site work in January

Two months after unveiling a new name, new floor plans and a new sales center for their development, the team in charge of building condominiums on the former Market Square Arena site is reporting more success than the first time around. Reservations have been taken for two-thirds of the units that need to be sold before the developer can fund One Market Square, real estate agent Kurt Flock told the Metropolitan Development Commission Dec. 7. Market Square Partners is considering…

ERODING FOUNDATION: Endowment’s assets fall with Lilly stock; heavy sale of shares dim chances for rebound

Endowment’s assets fall with Lilly stock; heavy sale of shares dim chances for rebound Wall Street is chipping away at Indianapolis’ most-venerable philanthropic institution. The value of Lilly Endowment’s primary asset-Eli Lilly and Co. shares-has dropped by more than half since 2000, forcing leaders to sell additional shares in order to give away hundreds of millions of dollars as required each year. Still, the privately run endowment remains a major Eli Lilly shareholder, with nearly 148 million shares of the company’s…

Republic Airways buffeted by U.S. Airways pilot turbulence: Locally based carrier gets favorable ruling in one dispute, but remains mired in separate $1.2B lawsuit

Republic Airways Holdings Inc. has landed a break from an arbitrator who ruled the Indianapolis regional airline is obligated to hire no more than half the 300 pilots employed by US Airways’ MidAtlantic regional airline, which Republic is acquiring. Regional carrier Republic can avoid higher personnel costs by not having to hire as many U.S. Airways pilots with seniority. The amount of the savings was not immediately available. But Republic remains a defendant in a complicated, $1.2 billion lawsuit that…

City, police union prepare for cop contract negotiations: FOP seeks 5 percent wage increase for IPD officers

Get ready for another round in local government’s most rancorous ongoing scuffle. The Indianapolis Police Department’s contract expires Dec. 31. The city and the police union are about to begin negotiations for a new agreement. Both sides sound optimistic about the chances for a smooth process. But that could quickly change when they get into the nitty-gritty of wage proposals and concessions. The parley over IPD’s last contract took two years. At its nadir, the Fraternal Order of Police endorsed…

De-stressing the holidays: Redefining ‘perfection,’ embracing simplicity are important keys

The holidays evoke picture-perfect images of beautifully decorated homes, homemade gifts and elegant, effortless entertaining. Everyone gets along fabulously and you get to relax around the fireplace and enjoy it all. The reality for many women, however, is that the frantic rushing around to get things done takes all the magic out of the season. Thankfully, there are simple things everyone can do to make the holidays less stressful. Don’t be a slave to tradition Re-evaluating traditions and setting realistic…

Backyard gushers: Prolific Plummer oil field profitable for Citizens as crude prices rise

They’ve also pumped up revenue for Citizens Gas & Coke Utility, thanks to the soaring price of oil this year. The utility’s oil revenue for the fiscal year ended Sept. 30 nearly doubled, to $4 million from $2.26 million in fiscal 2004. Since 1969, the Oil Division has generated income of nearly $40 million. In fiscal 2005, income of the Oil Division rose 160 percent, to $2.6 million, vs. $1 million in 2004. Although $2.6 million is not a huge…

Disappearing Ink: People go to great lengths, spend big money to erase their youthful body-art decisions

People go to great lengths, spend big money to erase their youthful body-art decisions When Allen George groggily awoke one morning 30 years ago after a night of drinking with two Army buddies, he couldn’t figure out why his arm was stuck to the bedsheet. A closer look revealed a large blood spot had soaked through and dried overnight. He carefully tore away the sheet and looked at his forearm. Staring back at him was a large, brightly colored peacock sitting…

EYE ON THE PIE: Security depends on flexibility, not stability

In one word, what do we want? I suggest that word is security, physical and financial security. We want to live without fear for our lives or our livelihoods. The atrocities of 9/11 made Americans more fearful about their physical security than they had been since the early days of World War II. Our economic condition feels insecure as jobs drift to other nations, as health care costs soar, and as both public and private pension plans are threatened. To…

ECONOMIC ANALYSIS: Economy is doing great, but what about next year?

Here’s a question the visually oriented news media face all the time-what does a strong economy look like? Belching smokestacks and humming assembly lines are the clichés of yesteryear, now that we’ve entered an era when knowledge and services account for more output than do physical goods. But somehow the picture of an office worker tapping on a keyboard or a group of executives huddled around a conference table doesn’t quite convey the vitality and power of the world’s largest…

Utility customers to receive millions of dollars in credits: Tentative agreement with PSI would settle disputes, compensate ratepayers for risks related to merger

PSI Energy Inc. has reached a preliminary settlement with the state’s utility consumer counselor on how its 750,000 Indiana ratepayers will fare under the merger of parent Cinergy Corp. with Duke Energy. Details of the agreement aren’t ready to be released, said Angeline Protogere, spokeswoman for the Plainfield-based utility. But filings both sides made last month with the Indiana Utility Regulatory Commission suggest that ratepayers could receive credits on their bills 21 percent greater than previously estimated by PSI. The…

Women inventors pursue their creative dreams: From doggie car seats to valve-less hydraulic systems, these visionaries keep creating practical products

Windshield wipers, disposable cell phones, Scotchgardâ„¢, the first automatic dishwasher, disposable diapers, Barbie dolls, nonreflective glass, brassieres, CPR mannequins and “whiteout.” These items have one key feature in common-they were all invented by women. Since the U.S. Patent and Trademark Office does not keep gender statistics, it is impossible to know exactly how many patents women hold. One thing is certain: since 1809 when Mary Dixon Kies became the first woman to receive a patent from the government, many other…

Star’s weekly battles Nuvo for young readers: As Intake turns 2, independent tabloid fights on

Tracking the readership of a free newspaper is like trying to bottle a vapor. What’s not difficult to determine is advertisers’ desire to target young consumers. “Advertisers increasingly want that young, upwardly mobile audience,” said newspaper analyst John Morton. “And they’ll pay to be a part of a product that can deliver it.” Central Indiana’s two biggest newspapers aimed at readers with a strong interest in the city’s night life and only a fleeting concern about long-term savings plans have…

SPORTS: The season that should have silenced BCS bashers

On a recent Sunday morning, the talking head on ESPN introduced NCAA Division I-AA football playoff highlights by saying, “And now let’s go to the action from where they actually decide the championship on the field.” Ah, how tiresome. How unfresh. How unoriginal. Just another shot taken at the Bowl Championship Series, another regurgitation of the media mantra aimed at the decision-makers in Division I who refuse to enact a championship playoff. So, this year, we must settle for the…

There’s more than one way to remove tattoos:

It’s not known when the practice of tattooing began, but Egyptian mummies dating back to 1300 B.C. have shown evidence of blue tattoo marks. Today, for many reasons, people are having tattoos removed. Here’s how: Dermabrasion: A small portion of the tattoo is sprayed with a solution that freezes the area. The tattoo is then sanded with a rotary abrasive instrument, removing the surface and middle layers of skin. Excision: An injection of a local anesthetic is applied to numb…

CHRIS KATTERJOHN Commentary: Guidant scenario recalls ’80s-almost

Last week, I was itching for a fight. When Boston Scientific surprised all but the deepest of insiders with its bid for Guidant, I was suddenly transported back to the 1980s, an era of hostile takeovers so intense it spawned books and movies. Some called it “The Decade of Greed.” Every day there was news of a new hostile takeover or a bidding war or a leveraged buyout of epic proportions. And there were names and personalities to match. Remember…

INVESTING: It’s a tricky market, but opportunities to profit remain

A lot of people were hoping for, and found, a year-end rally. I said in late October that the S&P 500 might hit a new rally high, but after that selling would come. Now that we are at that point, I see more upside potential. I am not changing my view that, in the big picture, stocks will be in for a rough ride next year. But the market could go higher than I expected before major selling takes over….

NOTIONS: Lamenting the uncivil right to push me and mine

Several weeks ago, the Carmel City Council voted 4-3 to ban workplace smoking. Before casting their ayes and nays, some councilors explained why they would vote a particular way. One councilor said he had smoked for years and finally quit. He said it was a wise decision. He urged other smokers to quit, too. Then he issued another plea to smokers: He said that even if they wouldn’t quit, they should voluntarily stop smoking in places where their secondhand smoke…

BEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall

As if Marsh Supermarkets Inc. didn’t have enough problems, here’s another whopper: The company has a drastically underfunded employee pension plan-to the tune of $44 million. That figure is disclosed deep within a Securities and Exchange Commission filing the company submitted in June. It shows the pension plan had assets of $39 million, less than half its $83 million in projected obligations. It’s a big shortfall, and one analysts say is sure to draw the attention of potential suitors. An…

Game not over for J&J: Johnson & Johnson may still beat rival in fight for Guidant

Boston Scientific Corp. earned instant front-runner status in the bidding war for Guidant Corp. when it unveiled a $25 billion offer on Dec. 5 that trumped a Johnson & Johnson proposal by more than $3 billion. However, market watchers say, J&J can regain the lead simply by counterpunching with a comparable offer. They say the immense New Jersey-based conglomerate offers more stability and is the better long-term option for Guidant shareholders who want to hold onto the buyer’s stock after…