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Indiana taps Meridian to handle surplus land: Second call put out for firms to oversee leasing

October 24, 2005

The state of Indiana has taken a first step in overhauling how it manages its real estate by selecting a local firm to sell surplus property. Meridian Asset Development was notified Oct. 12 of the state’s intent to award it a contract to manage the sale of potentially hundreds of acres of land the state owns. A contract could be in place within two weeks, pending negotiations over the exact terms, said Kevin Ober, deputy commissioner for the Indiana Department…

Public markets are sometimes a double-edged sword: Many companies enjoy access to capital, but others complain regulatory compliance costs are just too high

October 31, 2005

For young and growing companies, initial public offerings are a bit like climbing a mountain: a long, harsh toil to reach a distant summit. But planting a flag at the peak isn’t enough. To make the journey worthwhile, companies must stay there. The payoff can be enormous, in the form of ready access to capital. But operating at such a high altitude requires careful footing. And the effort costs more than some can afford. “It’s a double-edged sword,” said George…

Groceries go global: Ethnic food stores surge in popularity, number

November 7, 2005

Salsa outsells ketchup. Tortillas fly off the shelves almost as fast as white bread. And if you’re looking for these new staples of the American diet, Indianapolis is increasingly a good place to find them. Sixteen years ago, there were three Latino grocery stores in Indianapolis, according to Manuel Gonzalez, president of the Indiana State Hispanic Chamber of Commerce. Today, there are more than 40. And that’s just the places that specialize in products like milpero tomatoes and serrano chilies….

Fine-tuning a business strategy: Local violinmaker finds success by raising prices

November 28, 2005

F ine-tuning a business strategy Local violinmaker finds success by raising prices John Welch made a counterintuitive business decision two years ago. The violin business was in decline. Asian manufacturers were turning out high-quality stringed instruments for a fraction of the price of their American competitors. Welch decided to swim against the current. He raised prices. “We realized the only way to compete with the Chinese was to improve our quality,” said Welch, CEO of Indianapolis-based Sofia Violins. “We realized…

ECONOMIC ANALYSIS: Farming on decline, but ag still offers opportunity

December 5, 2005

Drive less than 20 minutes from almost any crossroads in Indiana and you’ll come across a feature of the Midwest landscape we take for granted: farmland. The vast open space in abundance between our state’s urban areas remains dominated by the industry that once employed more people than any other: agriculture. And while the sights of barns, cropland and animals grazing in pastures are familiar to us all, we should remember that looks can be deceiving. Plenty of changes are…

Utility customers to receive millions of dollars in credits: Tentative agreement with PSI would settle disputes, compensate ratepayers for risks related to merger

December 12, 2005

PSI Energy Inc. has reached a preliminary settlement with the state’s utility consumer counselor on how its 750,000 Indiana ratepayers will fare under the merger of parent Cinergy Corp. with Duke Energy. Details of the agreement aren’t ready to be released, said Angeline Protogere, spokeswoman for the Plainfield-based utility. But filings both sides made last month with the Indiana Utility Regulatory Commission suggest that ratepayers could receive credits on their bills 21 percent greater than previously estimated by PSI. The…

Finally, a new stadium, and not just for football:

December 26, 2005

After years of angling and months of negotiating, city and state officials finally came to an agreement with the Indianapolis Colts to build a $625 million retractableroof stadium south of the RCA Dome. With a drum roll and a crowd of 1,200 fans and dignitaries counting down-three, two, one-Colts quarterback Peyton Manning, Gov. Mitch Daniels, Mayor Bart Peterson and others shoveled a little dirt on the future home of the city’s new stadium in a formal ground breaking Sept. 21….

New airport control tower has a blind spot: More than 300 feet of runway obscured by FedEx hub will be closed, dozed to give controllers view

January 2, 2006

Indianapolis International Airport this month will launch a highly unusual project-shortening a runway. Perhaps just as odd is the reason: Controllers in the airport’s new air traffic control tower, opening next spring, won’t be able to see the southern 324 feet of the 7,604-foot crosswind runway. The FedEx hub is in the way. “The control tower needs to see the surface of the runway,” said John Kish, manager of the $1 billion midfield terminal construction project that necessitated the new…

STATEHOUSE DISPATCH: Passing ‘Major Moves’ initiative will mean major work

January 9, 2006

While most Hoosiers are focused on just how legislators are going to be able to cut residential property taxes again this year, the real battle to watch will be the one over what Republican Gov. Mitch Daniels refers to as the jobs program of a generation or more-his “Major Moves” roads initiative. What he wants boils down to this: finding a funding source for road building and repair that will not rely upon taxes. He made it clear shortly after…

Daniels’ team shakes up pension fund for teachers: Retirement plan may risk more on private equity

January 9, 2006

Under Gov. Mitch Daniels, Indiana is renewing its commitment to making sure teachers receive their pensions. But in the process, the state may also put their pension principal at greater risk. State Budget Director Chuck Schalliol said the $7.5 billion Indiana State Teachers’ Retirement Fund is considering expanding its holdings in private equity. The enormous pension fund already allocates 5 percent of its assets, or $240 million, toward such investments, which include venture capital, real estate and leveraged buyouts. Highly…

Super Bowl no longer ‘right moment’: Lilly shifts Cialis ads, will focus on programs aimed toward adults

January 9, 2006

As the Indianapolis Colts gear up for a run to next month’s Super Bowl, Eli Lilly and Co. already has decided to watch from the sidelines after two straight appearances during the big game. In a marketing strategy shift, the Indianapolis drugmaker will forgo TV commercials for its erectile dysfunction drug Cialis during the Super Bowl and the Winter Olympics, which begin Feb. 10. Cialis competitors Viagra and Levitra may join it on the bench, as the pharmaceutical industry trends…

Banking players on rise: Despite flood of mergers, area competition heats up

January 16, 2006

Big-ticket bank mergers grabbed plenty of headlines in the past two years. Just don’t let the splashy news stories fool you. The number of players in the Indianapolis banking market is expanding, even amid consolidation in the industry nationwide. Over the past 10 years, the number of banks taking deposits in the metropolitan area has grown from 41 to 56, according to annual data from the Federal Deposit Insurance Corp. Analysts attribute much of the growth to smaller banks and…

IRSAY’S ODYSSEY: Owner learned from life in NFL to build winning team

January 16, 2006

The Indianapolis Colts' evolution from perennial patsy to Super Bowl favorite is a body of work with a seldom-told—and often misunderstood—history. It's easy to see the hues all-pros Peyton Manning, Marvin Harrison and Edgerrin James painted on this masterpiece season. President Bill Polian and Coach Tony Dungy certainly colored the landscape. And Offensive Coordinator Tom Moore added his creativity. But theirs aren't the only signatures on this canvas.

The TIES that BLIND?: Experts say links between company, directors may have taken toll

February 6, 2006

The Arkansas-based goliath has been on a rampage in central Indiana the past five years, building its market share in the local grocery business to 26 percent. When Marsh announced last N ove m b e r that it had hired Merrill Lynch & Co. to explore a s a l e , m a ny o b s e r ve r s attributed the steady decline of the state’s sixth-largest employer to inroads by discount rivals. But a…

BEHIND THE NEWS: Consumer spending spree gives spark to Simon stock

February 13, 2006

It’s becoming almost ho-hum for Simon Property Group Inc. Another year, another round of eye-popping returns for the company’s shareholders. The Indianapolis-based mall owner, by far the nation’s biggest real estate investment trust, just closed the book on 2005, a year when funds from operations-a key measure of REIT performance-zipped up another 13 percent. Simon shares last year rose 18 percent. Including reinvested dividends, the stock in 2005 returned 23 percent. It was the fifth year in a row the…

Buckingham makes big plans for Carmel: Developer awaits OK on 116-acre urbanist development

February 20, 2006

The makeover of midtown Carmel, driven by the ambitious City Center master plan, could get a boost from a nearby development that could rival the project in scope. Local real-estate developer Buckingham Properties will present its proposal to the Carmel Plan Commission Feb. 21 to transform the 1960s-era Mohawk Hills apartment complex and its golf course into a modern urbanist neighborhood. The development, called Gramercy, could take a decade and hundreds of millions of dollars to complete. The 116-acre tract…

Hospitals battle for bone biz: St. Vincent’s ortho upgrade ups ante in lucrative niche

February 20, 2006

St. Vincent Health is spending $9 million to capture more of the city’s lucrative market for orthopedic care, a specialty that could trigger a new arms race among local hospitals. The Catholic hospital network is reworking existing space at its 86th Street campus to create a 61-bed St. Vincent Orthopedic Center that will open in July. The new center aims to consolidate care in one location and raise the quality bar to new heights. “We think we’re creating something that…

New FBI facility: tough case to crack: Government struggling to find site to build field office for bureau

February 20, 2006

The highly-sought-after job of developing a new building for the FBI’s Indianapolis field office is still in play, but it’s hampered by the federal government’s inability to find a site for the building. A bevy of local and national developers are expected to throw their hats in the ring to develop the building, which the Government Services Agency says needs to be 110,000 square feet. For the winner, it would be a high-profile project and one of the more significant…

Six firms land $6.1M from state tech fund: 21st Century program issues its first grants since 2004; local companies Semafore, Cadent among recipients

February 27, 2006

The state launched the fund in 1999 to invest in new technologies and appropriated $137 million during the first five years of the program. The state awarded no money in 2005, partly because none was available the first half of the year. The administration took the second six months to get acquainted with the fund. Kidd left his job as vice president of the Indiana Venture Center in October to join IEDC. The veteran small-business consultant since has helped reshape…

EYE ON THE PIE: Major Moves elicits childish behavior

March 6, 2006

There are issues in Indiana other than the toll-road lease and building Interstate 69. Yet some people in the Legislature refuse to relinquish their roles as reactionaries. Example: Out of their minds with xenophobia (the fear of foreigners) the House insisted that toll booths display American flags. Why not require that all BP (British Petroleum) gas stations fly the American flag? How about giving a loyalty test to Mittal Steel, which owns a big chunk of assets in northwestern Indiana?…

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Articles

Indiana taps Meridian to handle surplus land: Second call put out for firms to oversee leasing

Public markets are sometimes a double-edged sword: Many companies enjoy access to capital, but others complain regulatory compliance costs are just too high

Groceries go global: Ethnic food stores surge in popularity, number

Fine-tuning a business strategy: Local violinmaker finds success by raising prices

ECONOMIC ANALYSIS: Farming on decline, but ag still offers opportunity

Utility customers to receive millions of dollars in credits: Tentative agreement with PSI would settle disputes, compensate ratepayers for risks related to merger

Finally, a new stadium, and not just for football:

New airport control tower has a blind spot: More than 300 feet of runway obscured by FedEx hub will be closed, dozed to give controllers view

STATEHOUSE DISPATCH: Passing ‘Major Moves’ initiative will mean major work

Daniels’ team shakes up pension fund for teachers: Retirement plan may risk more on private equity

Super Bowl no longer ‘right moment’: Lilly shifts Cialis ads, will focus on programs aimed toward adults

Banking players on rise: Despite flood of mergers, area competition heats up

IRSAY’S ODYSSEY: Owner learned from life in NFL to build winning team

The TIES that BLIND?: Experts say links between company, directors may have taken toll

BEHIND THE NEWS: Consumer spending spree gives spark to Simon stock

Buckingham makes big plans for Carmel: Developer awaits OK on 116-acre urbanist development

Hospitals battle for bone biz: St. Vincent’s ortho upgrade ups ante in lucrative niche

New FBI facility: tough case to crack: Government struggling to find site to build field office for bureau

Six firms land $6.1M from state tech fund: 21st Century program issues its first grants since 2004; local companies Semafore, Cadent among recipients

EYE ON THE PIE: Major Moves elicits childish behavior