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BULLS & BEARS: Exchange-traded funds are a bonanza for Wall Street

“It slices! It dices!” That was the claim of late-night pitchman Ron Popeil of his invention, the Veg-OMatic. He could very well have said the same about Wall Street and its penchant to carve up the stock market and repackage it for sale to investors. The most visible evidence of this pursuit is the development of exchange-traded funds, or ETFs. An ETF is essentially an index mutual fund-an unmanaged pool of investor money that is invested in a select group…

Snowstorm meant long hours, extra bucks for some: Plowing works as a side gig, but no one’s getting rich

When the snow started flying during central Indiana’s impressive winter storm this month, some residents bought bread and eggs and hunkered down to wait out the white stuff. Others tuned up their trucks and revved their snow blowers in hopes of seeing a lot of green. Many area city and town officials had private contractors on their speed dial-reinforcements who would help clear the foot of snow that fell in the Indianapolis area Feb. 13-14. The workers ranged from a…

New NFIB boss knows politics: State chapter to devote more time to campaigns

Kevin Hughes cut his teeth in the political world. Now he’s taking a bite out of small business, as the new state director for the National Federation of Independent Business. Hughes, 30, has never owned his own business, but he worked for six years at the Ohio State Legislature as a legislative aide and for the Senate Republicans there. He also worked on several campaigns. In 2004, Hughes took a job as the Midwest regional political director for NFIB in…

Pets in the workplace: dog days or cat’s meow?: Animals a great benefit for some businesses, but others might whine about it

Sid Vicious-the cat, not the dead punk-rock renegade-and his feline friend Topper are almost as much a part of Halstead Architects as the eight employees. Perhaps they do enjoy destroying drawings more than sketching them, but their role at the Fountain Square firm has grown from mere mousers to beloved companions. That’s especially true for architect Jeff Schroeder, who adopted Sid from the Indianapolis Humane Society after a rodent crawled up his leg following the firm’s arrival at a former…

Bill would let utilities pass on more costs without rate hearings

Utility ratepayer groups say House Bill 1496, which is stuck in committee, is typical of what they see as a disturbing trend:
allowing utilities to pass the cost of mandates directly to consumers. HB 1496 would require Indiana’s coal-reliant electric
utilities to generate at least 10 percent of their power from renewable energy sources like wind and landfill gas.

Off to slow start, French Lick fears threat from ‘racinos’

French Lick Resorts & Casino is already struggling, less than four months after its launch. And the casino’s owners are downright
terrified legislators soon will allow both of the state’s horse-racing tracks to become “racinos” and add up to 5,000 slot
machines.

Economic development tops insurance initiatives: Raising money, lowering taxes top legislative agenda

The Indiana Department of Insurance wants to raise almost $2 million by hiking some fees it charges insurers, while still cutting their premium taxes in an effort to attract more companies to the state. The proposals are among several bills lawmakers are mulling that affect the insurance industry this legislative session. House Bill 1570, which would bolster Insurance Department coffers in part to hire more staff, has cleared early hurdles. It sped through both the House insurance and ways and…

MICKEY MAURER Commentary: Nothing new in athletes misbehaving

There were lots of empty seats at Conseco Fieldhouse the other night. It seems thousands of fans of professional basketball in Indiana are no longer “ready to rumble.” At this rate, Pacers leaping into the stands will have no one left to cold-cock. Local media has exacerbated the situation by an ad nauseam comparison of the world champion Indianapolis Colts to the Indiana Pacers. Unfortunately for the Pacers, the Super Bowl and the latest melee occurred within hours of each…

BEHIND THE NEWS: Duke Realty hits groove; stock rings up big returns

T h e m a n a g e – ment team at Duke Realty Corp. is proving itself adept at juggling these days. The Indianapolis-based industrial, office and retail developer wowed Wall Street with a 25-percent increase in fourth-quarter funds from operations, a key measure of performance for Duke and other real estate investment trusts. The company received a lift, in part, from a spate of property sales. But the solid results weren’t an aberration for the relatively low-profile…

Brightpoint’s buy turns the tables

On Feb. 20, Plainfield-based cell phone distributor Brightpoint Inc. announced a blockbuster deal to buy Dangaard, its largest
European rival, for $308 million, a reversal of fortunes from five years ago between the competitors.

ECONOMIC ANALYSIS: Markets pay a premium for the college-educated

Nothing erases the thrill of getting a raise from your employer faster than the news that someone else got a bigger one. We care about how much money our friends, neighbors and coworkers make-not always in a benevolent sense-even though there is usually little we can do about it. The trappings of material wealth are all around us, and it is almost impossible, it seems, not to get caught up in the game. But despair over disparities in income and…

Meridian Street landmark gets new life

Buckingham Cos., the Indianapolis-based owner/manager of more than 60 apartment complexes in five states, has broadened its
development sphere to include three square blocks of downtown real estate.

Ivy Tech ranks first in charitable giving

For the first time in its history, Ivy Tech Community College has ranked tops in the nation in private donations to community colleges, according to the Council for Aid to Education, a New York not-for-profit that conducts policy research on higher education. Ivy Tech received $15.3 million last year from foundations, corporations and individuals. The […]

UPDATE: Detroit utility might buy Citizens coke plant

DTE Energy, the Detroit-based parent of Detroit Edison, is a key contender to buy Citizens Gas & Coke Utility’s east-side coke plant, according to a source familiar with the talks. DTE also owns MichCon, is a natural gas utility that serves 1.3 million customers in Michigan and has a diverse portfolio of energy operations. The […]

‘Hundreds’ of jobs to be announced Tuesday

A company with operations in Indianapolis plans to announce Tuesday that it will create “hundreds” of additional jobs, according to Mitch Frazier, spokesman for Indiana Economic Development Corp. Frazier declined to identify the company, but said Indiana has won a tussle with several other Midwestern states for the project. Gov. Mitch Daniels and Indianapolis Mayor […]

Conseco reserve costs to wipe out fourth-quarter profit

Conseco Inc. expects to spend $53 million after taxes to shore up capital reserves for its long- term care and core insurance businesses, the company announced today. The Carmel-based insurer said the expense likely will wipe out its fourth-quarter profit, which Conseco now will announce on March 6, a week later than originally planned. During […]

BREAKING: Citizens Gas warns 300 of possible layoff

About 300 workers at Citizens Gas & Coke Utility’s coke-making division have been told that they risk be laid off because the plant might be sold, Citizens announced this morning. Citizens, which has been trying to sell the plant at 2950 Prospect St. because it no longer fits its business strategy, said it is “concluding […]

Hurco stock, once a dog, posts new records

Shares of Hurco Companies Inc. are setting records and soaring well above their nearly worthless status of three years ago. The stock has shot up 28 percent, to $45, since the Indianapolis machine tool maker late last week reported a surge in sales and earnings for its first fiscal quarter ended Jan. 31. The $5.4 […]

Lilly rolls out digital insulin injector pen

Eli Lilly and Co. today launched its first insulin injector pen with a digital memory in the hope of regaining market share lost in recent years to generic and inhalable insulin. HumaPen Memoir resembles a writing pen and is designed for patients who take several daily shots of insulin at mealtimes. The Indianapolis drugmaker said […]

Beverly Hills manager to take over Indianapolis Conrad

Greg Tinsley has been named manager of the Conrad hotel in downtown Indianapolis, replacing Jan Chovanec, who resigned in January to be closer to his family. Tinsley most recently managed the Beverly Hilton in Beverly Hills, Calif. Prior to the Beverly Hilton, Tinsley held posts with Sheraton Hotels in several cities.