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Indiana’s largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.
Democrat Bart Peterson leaves office in early January after two terms as mayor of Indianapolis. Succeeding him will be Republican Greg Ballard, a former lieutenant colonel in the U.S. Marine Corps who parlayed property-tax outrage into a surprise win. As Peterson, 49, prepared to leave office, he sat down with IBJ. The following is an edited version of the interview. IBJ: You didn’t expect to be stepping down this year. What was the most significant priority you had planned for…
KEVIN TEASLEY President, GEO Foundation CEO, 21st Century Charter Schools Kevin Teasley didn’t have clear-cut expectations when he and a small group of reform-minded dreamers opened 21st Century Charter School in 2002. The publicly funded-yet-independent schools were brand new in Indiana, and no one really knew what came next. Would 21st Century’s one-room schoolhouse approach draw talented teachers? Would students respond to a different kind of education? Organizers had high hopes, to be sure, but they operated more on instinct…
SMALL BUSINESS PROFILE RIPPLE BAGEL & DELI LLC Now for something completely different Retirees sell medical-supply firm, try deli business Often, when retirees aren’t ready to really retire, they line up consulting gigs or take a part-time job in their industry. When Ken and Susan Richman sold their locally based medical-supply distribution business, Fulfillment Plus, to employees in 2002, they decided to start a business in an entirely new industry-one known for a high failure rate. The Richmans had no…
Before we landed at the Genghis Khan Airport, checked into the Genghis Khan Hotel, and drank Genghis Khan beer, everything we had heard about the most famous Mongol of all time was negative. But that changed when we visited Mongolia in September. You might wonder what nice things could be said about a guy who conquered more territory in 25 years than the Romans did in 400? Well, the people we encountered perceived him as a combination of George Washington,…
A new leader will guide the city’s largest company in 2008, with some of the biggest challenges in its history on the horizon.
Eli Lilly and Co. announced Dec. 18 that CEO Sidney Taurel will step down March 31 and will be replaced by President John
C. Lechleiter, who has been the heir apparent for more than two years.
This was a puzzling year for investors. It began with ample lowcost money available to borrowers and record-low volatility across markets. It will end with a credit crunch hobbling financial firms and a market punctuated by volatile spurts. And yet despite this significant shift in market character, the major averages will end the year with modest positive gains. The year began with a sort of benign complacency for investors, as stocks had been on a smooth upward trajectory since the…
Ihope you enjoy this puzzle based upon an idea I found in Games magazine. The challenge is to guess the titles of the films made at least in part in Indiana before being “hanged.” The number of words in the title and the release dates appear in parentheses. To begin, choose any letter of the alphabet you think might be in Title I below. Suppose you pick “E”. Go to the letter chart on page 12 and find the number…
Many called it “the perfect storm.” But in retrospect, the dark clouds of Indiana’s 2007 property tax crisis had been forming
for years. Legislators caught wind early that something was amiss and spent all spring preparing to weather the impact.
Predicting the size and scope of economic activity for the nation, state and region is one of the more important roles played by university economists. But 2008 is the kind of year that really tests economic forecasting. The Bureau of Business Research just released its forecasts for Indiana and two regional labor markets. In total, we examined eight different data series and have stressed the performance of net employment and wages. Our forecast is fairly optimistic. We predict job growth…
In early 2007, many expected Marion County Republicans to punt on the chance to unseat Democratic Mayor Bart Peterson. After
all, the two-term incumbent had high approval ratings and a campaign war chest of $2.5 million. Attractive GOP candidates
willing to embrace the challenge were in short supply.
Baby boomers have five more years, 10, 15-then it’s time to enjoy retirement. Except that we keep buying everm o r e – ex p e n s ive houses. What will happen when the paychecks stop? Facing this, I reassessed my situation in Florida. In two years, my taxes there tripled; insurance, doubled. An affordable mortgage didn’t offset increases from the state and my friendly insurance company. To stay viable, I had to leave. Where to go? I figured…
A manager at the downtown tapas restaurant tells Property Lines the operation is in trouble and could soon close. Owner Frank Schmitz, of St. Louis, recently bought out his partner in the…
Nine Macy’s department stores will close, including the one in Washington Square Mall, Cincinnati-based Macy’s Inc. announced this afternoon. The Washington Square store employs 90. It opened in 1974 as an L.S. Ayres store. Macy’s didn’t specify when the store will close. The other stores closing are in Ohio, Texas, Utah, Oklahoma and Louisiana. The […]
A locally based financial institution is hoping to slow a high rate of foreclosures by lending up to $50 million to Indiana banks at attractive rates. The Federal Home Loan Bank of Indianapolis, part of a network of government-sponsored banks that lend to member institutions, will split $100 million between Indiana and Michigan in a […]
Tanya Bell has been named CEO of The Indiana Black Expo Inc. Bell will be tasked with fund development, partnership development and the role of liaison between the board of directors and the staff of IBE. Bell, 33, has been on the organization’s board for the past six years and played a key role in […]
Software developer LHP Inc. today said it plans to invest $1 million and add 320 workers by 2011 at its Columbus, Ind., headquarters. LHP, which employs 130 in Columbus, does work for the military, automotive and medical industries globally. LHP will begin hiring technology specialists, engineers and administrative workers next year. The company will receive […]
A Tennessee court has ruled against Finish Line Inc., saying it must complete its $1.5 billion purchase of Nashville, Tenn.-based Genesco Inc. Finish Line has been trying to walk away from the deal due to Genesco’s poor financial results in the second quarter. But the court ruling said the Indianapolis-based shoe retailer would breach its […]
Mayor-elect Greg Ballard today named the following to his administration team: – Olgen Williams, deputy mayor for neighborhoods; – Paul Okeson, chief of staff; – Chris Cotterill, corporation counsel;- Carolin Requiz Smith, director of Latino affairs; – John Cochran, special counsel to the mayor;- Greg Wilson, director of minority business development; – Marcus Barlow, press secretary. Williams is executive director of […]
If you’ve memorized the local radio dial, you can forget a lot of it beginning next month.
As IBJ reporter Anthony Schoettle wrote in this weekend’s paper, several stations are starting new formats.
We’ll hear plenty of promos as they try…
