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INVESTING: Bond insurers pummeled for straying into risky area

As Wall Street continues to record multibillion-dollar losses for its debt-market indiscretions, another industry that for years earned steady returns from the credit markets is sitting on the doorstep of implosion. For decades, bond insurers operated the relatively mundane business of insuring, and thereby guaranteeing, the timely payment of principal and interest on municipal bonds issued by various government and other entities. In recent years, the bond insurers strayed from their core business model and underwrote insurance on the new…

Conservancy plans ‘green’ HQ

The Nature Conservancy has agreed to buy an old industrial property on the eastern edge of downtown to develop a new Indiana headquarters. The $4.5 million project will revitalize…

Steak n Shake sales tumbled in latest quarter

The Steak n Shake Co. announced late this afternoon that same-store sales in its fiscal first quarter tumbled 9.5 percent. It was the latest bleak news for the Indianapolis-based diner chain, which now has reported 10 straight quarters of declining same-store sales. The latest results cover the quarter that ended Dec. 19. The company will […]

Hamlisch and show music matters

Appreciative applause met Marvin Hamlisch when, just a few hours ago, he announced from the podium at the Hilbert Circle Theatre that he’d be conducting a medley of songs from “My Fair Lady” as part of his pops program with…

Toyota’s quality problems

The luster on Toyotaâ??s reputation for putting out highly reliable vehicles is beginning to tarnish.

The Japanese carmaker is taking it on the chin for a series of quality issues, and the Tundra full-size
pickup truck made near Evansville is causing…

Indiana-made pickups add to Toyota woes

Quality problems involving a Toyota pickup truck made in Princeton have so tarnished the Japanese automaker’s once-vaunted image that they drove onto Automotive News’ list of the top 10 stories of 2007. The trade publication in its Dec. 31 edition cited numerous recalls for the full-size Tundra pickup, including failed torque converters and propeller shafts. […]

Ohio firm takes over Print Communications

Print Communications Inc., one of central Indiana’s largest printers, has sold a controlling interest to Stonehenge Partners Inc., a Columbus, Ohio, private equity firm. Terms of the deal were not disclosed, but PCI founder Randy Steenbergen said the staff will not be downsized and current management will be retained. The firm has been renamed PCI […]

Southern Indiana veneer firm adding 60 workers

Carl F. Booth Veneers, which provides exotic wood veneers to the executive aircraft industry, will move its New Albany operations to Jeffersonville and create 60 new jobs. The company will close the existing plant and build a 100,000-square-foot facility in Jeffersonville within the next year to increase production and meet increasing demand for its products, […]

Feds clear sale of Indy radio stations’ owner

Federal Communications Commission members have approved the buyout of Clear Channel Communications Inc., which owns WFBQ-FM 94.7 and two other Indianapolis radio stations, according to a report in The Wall Street Journal. The newspaper said a formal announcement could follow within a week, although the FCC wouldn’t comment. Leading the group acquiring San Antonio-based Clear […]

Lechleiter impresses CNBC pharma reporter

Incoming Eli Lilly and Co. CEO John Lechleiter can add another feather to his nice-guy hat. Mike Huckman, who follows the pharmaceutical industry for CNBC, wrote in an online posting this week that he was impressed when he interviewed Lechleiter during an industry gathering Monday. Lechleiter takes over for retiring Lilly CEO Sidney Taurel on […]

Mortgages are getting cheap

Mortgage rates are falling. This week, rates on 30-year mortgages slipped below 6 percent for the first time
in more than two years.

Are the cheaper rates putting you in a mood to refinance or step up to that house youâ??ve…

Lauth lays off 54 workers in Indianapolis

Developer Lauth Group Inc. today laid off 80 employees – about 18 percent of its nationwide work force – including 54 at its Indianapolis headquarters. The company described the move as part of a “realignment” that will help the nation’s 13th-largest developer continue to grow. About 90 percent of Lauth’s business is outside Indiana. The […]

Landmark Center sold to Michigan firm

A Michigan-based investment firm has paid more than $30 million for the 12-story Landmark Center at 1099 N. Meridian St. Quantum Investments bought the property from Illinois-based Westminster Funds, said Jenna Rowe, a spokeswoman for CB Richard Ellis, which marketed the property. Rowe said the sale price was between $100 and $125 per square foot, […]

Direct Buy acquired by private investment firm

Direct Buy Inc., a Merrillville company that franchises 149 centers where members buy directly from manufacturers, has been acquired by Miami-based private investment firm Trivest Partners LP and Direct Buy managers. Terms were not disclosed. The parties said the deal will infuse the company with strategic and financial resources to expand. In Indiana, Direct Buy […]

Zimmer-Ashcroft deal prompts Justice review

The U.S. Department of Justice has started an inquiry into its internal practices after the law firm of former Attorney General John Ashcroft was named to oversee business practices of Warsaw-based prosthetics maker Zimmer Holdings Inc. Current Attorney General Michael Mukasey and some aides fear the department appears to be in a conflict of interest, […]

Construction on $530M Getrag plant on hold

Work on a $530 million automotive transmission plant near Tipton has ground to a halt over a dispute between its partners, Chrysler LLC and German transmission maker Getrag. Construction stopped Dec. 21, ostensibly for a holiday break, but the work hasn’t resumed, according the Kokomo Tribune. Without naming its sources, the newspaper reported that the […]

Real estate to hold steady in ’08, report says

Real estate giant Colliers Turley Martin Tucker expects a 2008 slowdown in new office and industrial construction in Indianapolis as market demand catches up to a rapidly expanding supply. Retail construction likely will continue its quick pace, buoyed by the addition of mega-fitness chains and the local expansion of Dunkin Donuts. But tightening credit markets […]

Updates on downtown projects

By popular demand, here are a few updates on new development projects: The Maxwell is coming out of the ground on schedule, but sales have been slow so far,…

Online bettors reap windfall on Clinton win

Some online traders made $100 for every $1 they bet on Hillary Clinton’s winning the New Hampshire primary Tuesday, according to Bloomberg. Clinton’s chances of taking the pivotal state were so battered after she placed second to Barack Obama in Iowa that Obama’s odds had skyrocketed to 99 percent. One poll showed Obama leading Clinton […]