Pan Am sale called off
A Texas company has terminated its contract to buy Pan Am Plaza because of turmoil in the credit markets. Principle Equity Management had hoped to build a $50 million restaurant and…
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Decision on commuter air service could come today
The Evansville-Vanderburgh Airport Authority Board plans to meet today to consider whether to approve commuter flights between Evansville and Indianapolis. Massachusetts-based Cape Air would launch five flights a day in nine-passenger Cessna 402 aircraft, according to the Evansville Courier & Press. The flights might begin in October. Today’s meeting follows a meeting last week among […]
Lilly opens spigot to Minnesota psychiatrists
Indianapolis-based Eli Lilly and Co. paid more money-$11 million-to Minnesota doctors, nurses and medical foundations than any other drug company between 2002 and 2004, according to the Pioneer Press of St. Paul, Minn. The report is based on Minnesota’s strict disclosure law. Only Maine and Vermont have similar laws requiring pharmaceutical companies to open books […]
HD Supply sale goes through at cut rate, reports say
The Home Depot Inc.’s board yesterday agreed to slash the sale price for its wholesale business by 18 percent, to $8.5 billion, a sign that disarray in credit markets is taking the momentum out of the private equity buyout boom. Home Depot in June had agreed to sell the business for $10.3 billion to private […]
NOTIONS: Close encounters of the human, political kind
Long ago, on a muggy Hoosier morning, my wife, Pam, and I packed the car, coaxed our reluctant sons into the back seat and drove three hours north from Indianapolis. Our destination was a summer camp in the far reaches of the state-a place where Austin and Zach would spend their first extended time away from home. When we walked into the camp’s registration area, we found two people we knew: Indianapolis Mayor Bart Peterson and his wife, Amy. They…
BEHIND THE NEWS: 29-year-old investor stirring the pot at Steak n Shake
A Texas hedge fund manager young enough to be the grandson of several Steak n Shake Co. board members might cause the board a lot of headaches in the months to come. Twenty-nine-year-old Sardar Biglari, who runs the San Antonio-based Lion Fund, is leading a group that recently amassed a 5.8-percent stake in the struggling Indianapolis restaurant company. Biglari isn’t the passive investor type-just ask the folks at Applebee’s, Friendly Ice Cream Corp. and Western Sizzlin Corp., three other chains…
VOICES FROM THE INDUSTRY: Indiana needs to develop more technology workers
Far from its older perception of a backoffice function, information technology today is cutting edge and business savvy, driving innovation in virtually every industrial sector. As an industry, IT in Indiana has seen significant growth in the past few years. In fact, the state’s tech nology sector has grown so quickly that the industry faces a new challenge-employers are experiencing explosive growth and cannot find enough qualified individuals to fill these new positions. As documented by the Indiana Department of…
Charity alliances in United Way’s shadow seek their share
Once a year, the CEO implores employees to sign pledge cards to the United Way. Local health and human services agencies that
benefit wait to redeem your tax-deductible gift. But others are preaching there’s another path to charitable-giving heaven.
Lesser-known federations continue to nip at the heels of the United Way establishment in the workplace.
INVESTING Tumult in credit markets can create opportunities:
The upheaval in the credit markets has cast doubt on whether the long list of the acquisitions announced months ago will be completed. Some of these deals will blow up, but there also is opportunity for investors who are able to weigh the probabilities a deal will be completed. The spread between the current market price and takeover price on many of the deals in the works offers potential arbitrage profits. An example of a deal that has a low…
FAMILY BUSINESS: Circumstances dictate different stock for different children
Most owners of a family business have one class of common, voting stock. One challenge faced by these owners is how to divide the stock among their children, who may have very different personal circumstances. It may not make sense to give each child the same stock. Suppose, for example, that you have three children: Your daughter is active in the business and is married with two young children. Unfortunately, her marriage is troubled and a divorce is not out…
EYE ON THE PIE: Should fees replace property taxes?
So you want to be a boxer in Indiana? There’s a $10 fee to be paid every other year for the privilege. That’s a lot lower than the twoyear fee of $100 paid by architects. A driver’s license is good for five years and costs just $19.50. Whereas your aircraft bears a $10 annual registration fee, your passenger car has a $20.75 annual state fee. If you want to support a special cause, the Bureau of Motor Vehicles charges a…
A&E: The ‘Hunch’ is back This week, a dancing bellringer and a musical madam
It’s unlikely that anyone attended Gregory Hancock Dance Theatre’s “The Hunchback of Notre Dame” (which ran Aug. 17-18 at the Pike Performing Arts Center) with any goal in mind except to see choreographed dancers in graceful, compelling action. Yet other factors come into play beyond the foot- and body-work, and those factors, for good or ill, can enhance or undermine the dancers’ work. Take lighting design. In this case, the masterful work of lighting designer Ryan Koharchik turned a minimal…
Big Ten battles for TV sports bonanza
The new Big Ten Network and some of the nation’s largest cable television systems are fighting over how consumers will be charged for the network’s programming. Hundreds of sporting events could be blacked out in local markets, including scores of Indiana and Purdue university football and basketball games, if the two sides don’t reach an agreement.
ECONOMIC ANALYSIS: How Indiana’s industrial economy looks to a newcomer
This week marks the start of my tenure as director of Ball State University’s Bureau of Business Research. I take over from Pat Barkey, whose thoughts on the state’s economy have long graced this column. His will be hard shoes to fill. I have read over many of Pat’s old columns, and the one thing that stands out is how much we agree on the issues facing the state-and their solutions. Contrary to the old stereotypes, hard-headed economists usually come…
LESSONS LEARNED ALBERT RENE TREVINO Owner, Rene’s Bakery:
LESSONS LEARNED ALBERT RENE TREVINO Owner, Rene’s Bakery As most entrepreneurs can attest, the process of running a small business includes facing plenty of challenges. But viewing those potential obstacles as opportunities has helped Albert Rene Trevino build Rene’s Bakery Inc. into a growing enterprise with a solid reputation. One of his biggest trials was getting the doors to his Broad Ripple shop open. Trevino had just parted ways with a former employer in 2004 when he stopped by the…
Aiming to save, Children’s Museum goes it alone: In-house construction crew builds exhibits from scratch
A sign on the basement wall reads “Construction Zone.” Nearby on the router table, window frames are taking shape along with decorative pieces that will adorn the façade of a World War IIera brownstone. Behind a red plywood wall a few floors up, hammers knock and saws shrill as workers erect a 13,500-square-foot homage to three children who changed the world. It’s just another day at the office for the production crew at The Children’s Museum of Indianapolis. For months,…
New high school puts focus on workplace: Cristo Rey gives students taste of real employment
Terry Majors wants to make a name for himself in the business community, and he’s confident he’s well on his way to being successful. Making eye contact, he shakes hands firmly and confidently. He’s dressed neatly and professionally in a white, buttondown shirt and tie. His shoes are well-polished. He speaks in a friendly, yet authoritative, voice about a new job he will soon start. “It’s all about choices,” he says philosophically of life, as if he’s been making choices…
First Indiana Bank’s sale timing paid off
First Indiana Corp.’s announcement that it would be sold to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash
came just 17 days after sale discussions began. Banking observers have speculated for weeks that First Indiana acted fast
to cut a deal before it would have to report second-quarter results.
MICKEY MAURER Commentary: Time unveils perspective on friendship
Many customs in the Jewish religion have been practiced since before the recorded word. Some, like the rite of “unveiling,” are borrowed from American culture and date back only a century or two. An unveiling is a graveside ceremony marking the end of the formal grieving period. It is observed by the bereaved, who meet no sooner than the first anniversary of the loved one’s death to symbolically set the headstone. The headstone is covered with a cloth, which is…
United Way seeks corporate help to promote reading: Fourth-grade program tries to attract 500 volunteers
Wanted: Corporate types willing to give an hour of time a week to a cause that is as critical as any business decision ever made. Must be willing to work with children. If interested, contact the United Way of Central Indiana. Intrigued? Then you might be a candidate for the ReadUP program, which aims to help fourth-graders within the Indianapolis Public Schools system become better readers. The ultimate goal is to produce more high school graduates for a district in…