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BEHIND THE NEWS: Big investors turn up heat on tiny Century Realty

Big money from the coasts has been pouring into one of the nation’s most obscure publicly traded real estate companies-India n a p o l i s – b a s e d apartment owner Century Realty Trust-helping to propel the sleepy stock more than 50 percent higher over the past year. Here’s a sure bet: The investors didn’t become interested because they’re suddenly enamored with 74-year-old Chairman Jack Bradshaw’s slow-and-steady management approach. Quite the opposite, says one of the…

HIGHER (cost of) EDUCATION: Students’ college burden continues to rise in Indiana

With state funding flat and operating expenses rising, Indiana’s public universities are turning to a familiar source to make up the difference-students. Tuition and mandatory fees at state institutions are set to climb an average of 5 percent next school year and higher in 2006-2007, if proposed rates stand. That’s a far cry from the double-digit increases most universities imposed just a few years ago, but observers say it’s worrisome nonetheless. “Tuition has been rising at twice the rate of…

Mansion tenant’s HQ networks with history: Levey building’s interior design mixes new with the old

At the Louis Levey Mansion on North Meridian Street, the blending of past, present and future greets visitors as they walk through the heavy arched doors of Networks Financial Institute’s headquarters. In the entry hallway, a receptionist with all the latest technology on her desk sits under a Victorian-era stained-glass skylight. Around her, contemporary art hangs next to elaborately carved wood molding on the walls. Futuristic glass-and-chrome lighting fixtures hang from the ceilings, one of which has an original painted…

VIEWPOINT: Our future is in good hands of our youth

Earlier this month, as I dispensed diplomas and handshakes in my final undergraduate commencement as a university president, I was struck by the realization that the optimistic parade of young people passing across the stage began their college experience under a shadow large and ominous enough to swallow all hope. The terrorist attacks of Sept. 11, 2001, unfolded when these young men and women were fresh out of high school and barely settled into their residence halls-many of them far…

BULLS & BEARS: Using investors’ cash well belies parking-it theories

When it comes to four-letter words, “cash” is perhaps the most despised in the investment business. Investors are regularly counseled to “remain fully invested at all times.” There even is an industry adage that “cash is trash.” The primary case against holding cash rolls off the tip of advisers’ tongues like a Buddhist chant: “You can’t time the market.” Industry marketing pieces show that if you were out of the stock market on its best-performing days over the years, your…

Firm eyes national growth following design merger: CSO SchenkelShultz could bring more offices into fold

The two design firms joined forces to become CSO SchenkelShultz and consolidated more than 100 employees at the north-side office CSO previously occupied by itself at Parkwood Crossing. The combined firm might become much larger, however, if a long-term plan unfolds to bring more locations under the umbrella. Based in Fort Wayne, SchenkelShultz has nine remaining locations in Indiana, Florida and North Carolina separate from the merged office in Indianapolis. The merger could be a first step to a deeper…

No slots, no hope for tracks: State horse racing industry predicts continuing losses without gambling expansion

After taking what they said was another damaging blow in this year’s General Assembly, the state’s two parimutuel horse racing tracks said they’ll survive 2005, but they guarantee little else. Gov. Mitch Daniels and other key lawmakers killed a bill that would have allowed landbased slot machines in Indiana and generated new revenue for Hoosier Park, Indiana Downs and horse breeders. With those hopes sunk, the track owners are pessimistic and breeders are moving out of state, taking with them…

State remains vigilant on military base closures: Protecting jobs could still be tricky; Base Realignment and Closure process to conclude by year’s end

Historically, the vast majority of the military’s initial Base Realignment and Closure recommendations are included in the final cut. Even so, Indiana can’t afford to let down its defenses yet. “We’re still very much on this case, and are going to stay that way through the end of this process,” said John Clark, Republican Gov. Mitch Daniels’ senior adviser for economic growth. “We’re going to remain vigilant. These were recommendations, not conclusions.” For years, Indiana’s political leaders and economic developers…

Digital TV for the masses: Thomson venture to roll out alternative to HDTV sets at prices ‘Middle America’ should love

People with cars-up-on-blocks in their front yards could afford to buy this digital television. TCL-Thomson Electronics Corp., the Thomson joint venture known as TTE, plans to launch ultra-inexpensive “SDTV” digital sets this fall to aggressively court what some say is an ignored segment of the consumer electronics market. If Bharath Rajagopalan and his colleagues are correct, TTE could get an edge on competitors who’ve been too drunk on profit margins from big, $5,000 plasma screen sets to worry about digital…

Vote sets up big switch for Standard: Company awaits insurance department’s approval of sale

With two key shareholder votes in his favor, Standard Management Corp. Chairman and CEO Ron Hunter made major strides last week in remaking the Indianapolis holding company. Common-stock shareholders overwhelmingly approved the sale of Standard Life Insurance Co. and Dixie National Life Insurance Co. to Louisville-based Capital Assurance Corp. May 18. Later that day, the company announced most of the holders of its trust-preferred securities agreed to a plan that preserves more than $20 million in cash for Standard in…

Heartland Golf Cars and Equipment Co.: Golf cars have become hot commodity Local firm has ridden the trend to profitability ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business, he

ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business, he advises, “Don’t go into it on a shoestring. You have to have a business plan and be committed to working long hours. It’s not only working harder, it’s the workmanship, too. It may sound like an old cliché, but it’s very true.” * Golf cars are no longer just for sport. These electric- or gasoline-powered cars may…

‘Rat’ campaign targets projects: Union-hired protesters picket non-union contractors

Union supporters have no plans to exterminate the giant rats that have become a common sight downtown, as they continue to pressure certain contractors to pay what they consider fair wages. That is the message from the Indiana/Kentucky Regional Council of Carpenters, the labor organization that has adopted the rodent as its mascot for a campaign targeting various downtown construction projects. Organizers said the effort is twofold: to create public awareness that union contractors are losing work, and to better…

VOICES FROM THE INDUSTRY: Vibrant city can be built without oceans, mountains

In late April and early May, two things happened. The Legislature adjourned on time and Forbes magazine released its seventh annual list of the best (and worst) metro areas to develop businesses and careers. Forbes based its ranking on business costs, living costs, education levels of the work force, qualityof-life issues as well as job and income growth and migration patterns. Indianapolis ranked 33rd out of 150 of the country’s largest metro areas, and there’s some good news in that…

SPORTS Bill Benner: IRL vision falls short for driver on outside looking in

This will be the 10th Indianapolis 500 since the split-or chasm, or Grand Canyon-wide divide-in American open-wheel racing, and there is no question that the Indy Racing League and CART/Champ Car continue to suck the exhaust fumes of NASCAR. They lag well behind the taxi-cab series in crowds, television ratings, media coverage and corporate support. Why the knuckleheads who rule both open-wheel circuits stubbornly continue to go their own way is way beyond me, but I suspect the reason can…

TOM HARTON Commentary: The twins that hold us back

Stubbornness and stupidity are twins. I’ve remembered that notion from Sophocles ever since a high school friend said it to a teacher as they argued about the way she’d scored his test. He lost that fight, but went on to become a successful lawyer. I don’t know what happened to the teacher, but I’m reminded of the phrase as I observe the decisions made by our elected representatives. Two examples come to mind, one recent and the other long ago….

Foyt’s tough transition: Legendary driver struggles as racing owner

Foyt with a wrench. It’s an iconic image dating back to the 1960s, when the brash, hott e m p e r e d racer started forging his image as one of the world’s best drivers. A wrench gripped by Foyt’s rugged hands is still the image that best characterizes the legendary Texan. But in an era of high-tech diagnostics and sponsor-driven economics, it’s no longer a winning image. “There are certain athletes, racing drivers and personalities that have unusual…

Helping seniors get online: Teen-founded organization teaches computer literacy

Philip Ealy became quite deft at pounding the keys of his manual typewriter while processing orders during a career in the construction industry. But when his son gave him a laptop, the gap in technology was too great to overcome. So the 88-year-old resident of Manor Care at Summertrace in Carmel enrolled in a computer class at the independent living facility offered by an upstart not-for-profit known as Senior Connects. The thrust of Senior Connects’ mission-to promote computer literacy among…

Building trades set for takeoff: Construction companies line up for first set of bids on $300M midfield terminal

The Indianapolis Airport Authority board on May 9 is expected to vote to approve the letting of the first six construction packages. They’re worth a total of $70 million, said Midfield Program Manager John Kish. That’s about a quarter of the $300 million terminal building’s price tag. The $974 million midfield project also includes a new airport entrance at I-70 and Six Points Road. But it’s the terminal building that has broad appeal to the trades. “I’d say this is…

Elite execs raking it in: As pay swells, critics urge restraint

Special Report: Elite execs raking it in As pay swells, critics urge restraint Highest-paid Indiana public company executives in fiscal ’04. Includes salary, bonus and other annual compensation, as well as long-term pay and stock option grants. 1) includes $1.7 million signing bonus received upon becoming CEO and president in August 2004 Turns out life’s certainties stretch way beyond the cliché about death and taxes, especially in corporate Indiana. If you’re a top executive at one of Indiana’s biggest public…

VOICES FROM THE INDUSTRY: Effective tech outsourcing takes well-managed plan

More companies than ever are outsourcing their critical business functions, including sales, marketing, accounting and human resources. But the most rapid switch is taking place in technology, due to the accelerated pace of changes in security threats, certifications, government policies and customer-driven mandates. While companies have high expectations of their internal IT departments, many simply don’t have enough time to manage workloads and stay on top of current trends and innovations. Because most technology requires specialization, some companies are finding…