Estridge: We need cash to survive
Paul Estridge Jr. says potential investors have inquired about helping his homebuilding company. Without millions in capital and a line of credit, the business could close within a week.
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Fair Finance investors likely to recover little money
Authorities say Fair Finance, led by indicted businessman Tim Durham, owes 5,200 investors $230 million. But they’re likely to recoup just a “teeny-tiny” fraction.
Estridge again seeking investors to avoid closing
The Carmel-based homebuilder said Tuesday that it will shut down if outside investors or a line of credit aren’t obtained soon. The company previously received a cash infusion last June from a group of subcontractors.
Opera and Civic Theatre announce 11/12 schedules
Indianapolis Opera back up to four programs; Civic leading with “Drowsy Chaperone.”
Construction
DB Klain Construction has started construction of a 1,500-square-foot addition/renovation of the Carmel Dad’s Club corporate offices at 5459 E. Main St., Carmel.
Leases/leasing contracts
-Farmers Insurance leased 26,840 square feet of office space at Lake Pointe Center 5 at Allison Pointe, 82nd Street and Allisonville Road. The tenant was represented by Brian Askins of UGL Equis. The landlord, Edgeworth Laskey Properties LLC, was represented by Adam Broderick of Jones Lang LaSalle.
-Planet Fitness leased 17,456 square feet of retail space at Plainfield Crossing, U.S. 40 and Shady Lane, Plainfield. The tenant was represented by Scot Courtney and Bart Jackson of Lee & Associates. The landlord, Schottenstein Property Group, was represented by Drew Warner of Eclipse Real Estate.
-USA Funds leased 14,970 square feet of office space at One Concourse at Crosspoint, 9998 Crosspoint Blvd. The tenant was represented by Sam Smith of Colliers International. The landlord, Edgeworth Laskey Properties LLC, represented itself.-MetLife Bank leased 14,042 square feet of office space at One Concourse at Crosspoint, 9998 Crosspoint Blvd. The tenant was represented by Dan O’Neil of Jones Lang LaSalle. The landlord, Edgeworth Laskey Properties LLC, represented itself.
-Jason’s Deli leased 4,900 square feet at Hamilton Crossing Centre, 12405 N. Meridian St., Carmel. The tenant was represented by Phil Drake and Robert Matias with Equity Inc. The landlord, KRG Hamilton Crossing LLC, was represented by Blake Beaver of Kite Realty Group.
-Threlkeld & Associates leased 4,500 square feet at 50 S. Meridian St. The tenant was represented by Yumi Prater and Tim O’Brien of Colliers International. The landlord, 50 South Meridian Associates LLC, was represented by Bill Montrie of Corporate Park Development Inc.-Associated Brokerage Companies Inc. leased 3,541 square feet at Intrametco Centre, 14297 Bergen Blvd., Suite 150, Noblesville. The tenant was represented by Scott Lindenberg of Echelon Realty Advisors. The landlord, The Intrametco Building LLC, was represented by Paul Dick and Kevin Dick of Colliers International.
-Leslie’s Swimming Pool Supplies leased 3,486 square feet of retail space in Westlake Shoppes, 835 Beachway Drive. The tenant was represented by Bill French of Cassidy Turley. The landlord, StanCorp Mortgage Investors LLC, was represented by Jim Karozos and Ron Mannon of Lee & Associates.
-Metamorphoo Inc. leased 1,534 square feet at Lake Plaza Office Park, 6801 Lake Plaza Drive. The landlord, Lake Plaza LLC, was represented by Debbie Shumate Johnson of Alliance Commercial Real Estate. The tenant represented itself.
-Hairspray extended by three years its lease for 1,407 square feet at Fashion Mall Commons, 8487 Union Chapel Road. The landlord, The Broadbent Co., was represented by Broadbent’s John Beuoy. The tenant represented itself.
-Rose Nails extended by five years its lease for 1,400 square feet of space at Washington Corner, 9900 E. Washington St. The landlord, The Broadbent Co., was represented by Broadbent’s Jeff Roberts. The tenant represented itself.-Liberty Tax Service extended by three years its lease for 1,400 square feet at Washington Shoppes, 10009-10089 E. Washington St. The landlord, The Broadbent Co., was represented by Broadbent’s Jeff Roberts. The tenant represented itself.
-Reena’s Threading Eyebrows leased 1,200 square feet of space at Castleton Shoppes, 6024-6066 E. 82nd St. The landlord, The Broadbent Co., was represented by Broadbent’s John Beuoy. The tenant represented itself.
-Sigman Cleaners leased 900 square feet at North Willow Commons, 1410-1518 W. 86th St. The landlord, The Broadbent Co., was represented by Broadbent’s Ray Bunes. The tenant represented itself.
-Lizabeth Fitzgerald and Marlene Sharpe leased 840 square feet at Lake Plaza Office Park, 6801 Lake Plaza Drive. The landlord, Lake Plaza LLC, was represented by Debbie Shumate Johnson of Alliance Commercial Real Estate. The tenant represented itself.
Purdue case highlights costs of defending intellectual property
A complicated legal case about trade secrets points up a down side to the success Indiana’s research universities have had turning their research into revenue: Large legal bills can eat much of the money.
Eagle’s Nest is a survivor among rooftop eateries
As rooftop restaurants nationwide have fallen from grace, the Eagle’s Nest, sitting high atop the 22-story Hyatt Regency Hotel in the center of downtown, continues to fly high.
Bill would give neighborhoods more power to resist annexation
Cities and towns would lose the power to annex land against the owners’ will, under a bill that easily cleared the Indiana Senate.
Indiana must limit immigration
It always amazes me that the obvious results of exporting jobs, importing workers and engaging in other forms of labor and environmental arbitrage are a mystery to newspaper editorialists and many of our so-called public leaders.
Krull column was out of line
[Columnist] John Krull, in an attempt [in the Feb. 28 Forefront] to slam U.S. Rep. Mike Pence [R-Indiana] and State Sen. Mike Delph [R-Carmel], used a very flawed premise.
MERHOFF: Let’s rethink what businesses want
Today’s lifestyle preferences have trumped yesterday’s corporate loyalty, just as flatter organizational structures leading to greater employee interaction have replaced pyramid-shaped corporate structures.
MARCUS: Fewer Hoosier children means less retail
Indiana added 369,400 adults, compared with just 33,900 children, a ratio of nearly 11 to 1. This imbalance was hardly uniform, but its consequences are important for all of us.
New federal rules prompt ITT to change bonus-pay criteria
The Carmel-based for-profit educator still will pay its top executives bonuses, but they’ll no longer be tied to school enrollment, the company said Tuesday in a proxy filing.
Also this week
On March 11-12, the Indianapolis Symphony Orchestra is joined by violinist Karen Gomyo for a program including Dvorak’s “Symphony No. 8.” Details here.
Camerata Ireland performs in concert March 11 at the Palladium. Tango Buenos Aires gets the Palladium dance series started on March 16. Details here.
The 200-seat Studio Theatre gets its first full production with Carmel Repertory Theatre’s “The Fantasticks,” March 11-27. Details here.
On March 10, Indy Fringe Theatre hosts “An Evening with Kevin Thornton,” featuring the comic who may be familiar to Fringe audiences for his “Sex, Dreams & Self Control” show. Details here.
Gamers interested in everything from Apples to Apples to Dungeons and Dragons gather for the free Who’s Yer Con, March 11-13 at the Holiday Inn North. Details here.
People
Glenn Hilliard, chairman of Carmel-based CNO Financial Group Inc., will resign from the board by not seeking re-election at the company’s annual shareholders' meeting on May 12. The board wants to appoint another director, Neal C. Schneider, to replace Hilliard. Hilliard, a former ING executive, has led CNO’s board since the company, formerly named Conseco Inc., emerged from a Chapter 11 bankruptcy reorganization in 2003.
David Floyd, president of Warsaw-based DePuy Orthopaedics, a Johnson & Johnson unit that makes replacement hips and knees and is dealing with an expensive product recall, will resign at the end of the month to pursue outside interests, according to Bloomberg News. Floyd has been president of DePuy since 2007.
WellPoint Inc. named Kate Quinn its chief marketing officer, promoting her from her previous position as vice president of corporate marketing. Quinn joined Indianapolis-based WellPoint in 2005 after stints at PacifiCare Health Systems, The Hartford Financial Services Group and Cigna Corp. Quinn holds a bachelor's degree from the City University of New York and an MBA from the University of Phoenix.
CNO Financial Chairman Hilliard stepping down
R. Glenn Hilliard, 68, who has held the chairman's title since September 2003, said he will not seek re-election.
Construction
-Kort Builders has started construction of a 1,000-square-foot addition to Recess Restaurant at 4907 N. College Ave. The addition will serve as a separate restaurant called Room 4.
-Kort Builders has started construction of a 2,400-square-foot retail space for Sharkey’s Cuts for Kids at 12525 Old Meridian St., Suite 110, Carmel.
-Kort Builders has completed a 4,000-square-foot medical space for Massage Envy at 4000 W. 106th St., Suite 200, Carmel.