Indiana Historical Society plans new works
The Indiana Historical Society will pilot a series of interactive history lessons at its Indiana History Center next year before closing the facility for most of 2009 to make it more visitor-friendly.
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Upromise to manage state college fund
The state plans to hand management of its college-savings plan to a new company after the existing manager attracted attention for charging hefty fees. The Indiana Education Savings Authority announced yesterday that it has chosen to begin intensive negotiations with Upromise Inc. to take over the Indiana version of the 529 offering. Upromise, based in […]
A new floral arrangement
Looking for flowers downtown? There’s a new arrangement, thanks to a shakeup among locally based florists. Enflora Flowers for Business, part of McNamara, plans to open in Chase Tower in early February. And…
Indiana History Center to broaden programs
Indiana Historical Society leaders are scheduled to make a major announcement tonight about an expansion of programs at its Indiana History Center downtown. The local not-for-profit maintains an extensive research library and archives on the history of Indiana, among other activities. Details will be available at IBJ.com this evening.
Cohesant to be sold for $35 million
Indianapolis-based Cohesant Technologies Inc. has agreed to be acquired by Graco Inc. of Minnesota for $35 million. Graco said it intends to keep Cohesant’s largest unit, GlasCraft, while spinning off the rest of the company. Among other products, GlasCraft makes equipment that sprays polyurethane foams. Under the deal, shareholders of publicly traded Cohesant would receive […]
White as IPS savior
You hear it over and over. Lots of young families would live downtown, or in the surrounding neighborhoods,
if Indianapolis Public Schools didnâ??t have a poor reputation. Rather than risk their childrenâ??s education,
they bolt for township schools or even…
Peerless Pump sold to Danish company
One of Indianapolis’ oldest industrial businesses, Peerless Pump Co., has been sold to Grundfos Group, a pump-making giant headquartered in Denmark, for an undisclosed price. Peerless, whose origin dates to the 1920s, had been owned by Monaco-based Thyssen-Bornemisza Group since 1976. Peerless manufactures pumps for fresh water. Much of its $110 million in sales is […]
U.S. corporations in recession, report says
Companies are reporting declining profits and sales, which indicates they are in a recession, and the entire economy may follow suit, according to Bloomberg. Profit generated by American companies fell at an annual rate of $19.3 billion in the third quarter, said the report, which cited Commerce Department figures. Profit for companies in the Standard […]
‘Voluntourism’ pioneer wants to go corporate: Once province of colleges, Ambassadors branches into business
Companies wanting to build camaraderie and teamwork often send their employees on the all-too-predictable retreat. A couple of hours down the road, in a restful setting, they’ll do role-playing games and problem-solving exercises. These corporate chums will cap it off with a bar tab equivalent to the national debt of Belize. Sally Brown thinks she has a better alternative to the typical company retreat. Why not send those employees to Belize? Or how about El Salvador, or even India, for…
Commentary: There’s an upside to this fiasco
Psst. Come closer. Want to double your money? I’ve got a deal for you. No guts? Turn the page now. OK, you didn’t turn the page-Finish Line Inc. stock closed Nov. 26 at $2.94 a share. It’s time to buy. Finish Line is a leader in the outdoor and lifestyle footwear, active wear and accessory field. Basically, the company sells shoes. It has 693 Finish Line stores, mainly in enclosed malls. It also operates nearly 100 Man Alive urban-apparel stores….
AllPoints Midwest lands huge lease
The massive new AllPoints Midwest industrial park in Plainfield has landed its first tenant in a mega deal that likely will
be the area’s biggest industrial lease in 2007. Local logistics firm Prime Distribution Services Inc. has signed a lease for
1.2 million square feet in the 920-acre park, a joint venture between Indianapolis-based Duke Realty Corp. and Browning Investments
Inc.
INVESTING: Investors shrugging off home-mortgage turmoil
Nov. 20 was one of the stranger days in the stock market that I have seen for some time. On the surface, it came and went like any other business day, with the Dow Jones industrial average ending up a decent 50 points. However, if you had told me the stock prices of both the Federal Home Loan Mortgage Corp. and the Federal National Mortgage Association would collapse 25 percent that day even as the Dow rose, I would have…
ECONOMIC ANALYSIS: Why eliminating property taxes is a bad idea
Judging from the many yard signs I’ve seen, a repeal of property taxes is a popular sentiment in the state. Too bad, because that would be an uncommon departure from Hoosier practicality and wisdom. Like most states, Indiana taxes income, consumption and wealth. We use these taxes to fund different levels of government. Critics of Indiana’s property taxes are right to be flummoxed. I’ve even argued that many of the consequences of Indiana’s property taxes are worse than most critics…
EYE ON THE PIE: Privatization of lottery is a winning ticket
It happened on the day that does not exist. Black Friday, the day after Thanksgiving, is not a good news day. This year, we got an extra serving of admonitions about obesity from the Centers for Disease Control. Beyond that, we heard the usual stories of indignation and indigestion, miracle recoveries from swallowed wishbones, and promising/disappointing retail sales. Also on that day, Gov. Mitch Daniels deferred for another year his proposal to “privatize” the Hoosier Lottery. Last year, the state…
WellPoint broadens push to improve health
WellPoint, Indiana’s largest health insurer, is making more noise than ever about what it’s doing to help improve Hoosiers’
and Americans’ health.
WFYI-TV adds digital channels
WFYI-TV Channel 20 has quietly launched two public television channels, but a third station that’s about to launch should
pack the biggest punch. The Indiana Channel will feature an all-local lineup, including extensive live coverage of the Indiana
General Assembly, judicial proceedings, and arts and cultural programming.
BEHIND THE NEWS: Steak n Shake troubles may cut chance of sale
Here’s a silver lining to The Steak n Shake Co.’s deepening woes: They might scare off potential buyers, keeping the locally based diner chain independent for the foreseeable future. “While Steak n Shake continues to look at alternatives to increase shareholder value, we believe the business will need to be stabilized to attract any meaningful interest,” CL King & Associates analyst Michael Gallo wrote in a new report. Indeed, getting the 491-restaurant chain back on track could take a long…
A&E: A&E goes on a road trip: ‘Wicked’ in the Windy City
Musical-theater buffs in Indianapolis know that an occasional trip to Chicago is a must. Savvy ticket buyers willing to schlep up Interstate 65 have gotten advance looks at such longrunning Broadway hits as “Mamma Mia!,” “Aida,” “Monty Python’s Spamalot” and “The Producers” before they opened in New York (and years before their tours arrived here). Right now, though, the big musical draws in Chicago-“Wicked” and “Jersey Boys”-aren’t pre- but, rather, post-Broadway. And more than just stopping in the Windy City…
SURF THIS: Custom cards: A gift that has you written all over it
I was in Texas a couple of weeks ago addressing a marketing conference organized by Strategic Fulfillment Group. The room was full of smart, progressive marketing minds, all sharing ideas about how to best address their respective customers. The focus of my presentation was building better online shopping environments, so we were all pretty well entrenched in the concepts, methods, and trends of selling online. Yet even this esteemed company didn’t come up with the innovative idea that Starbucks would…
Commentary: All the signs of an upset were there
I recently had a post-election conversation with a good friend who is a staunch supporter of Mayor Bart Peterson. We were talking about the two-term incumbent’s loss to the little-known challenger, Greg Ballard. My friend told me, “Abdul, I never thought Bart Peterson would lose.” My response: “Neither did he and that’s why he did.” I am amazed at how many people were shocked at what happened less than a month ago, because, if you paid attention, you saw it…