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OneAmerica methodical in approach to new deals: Flush with capital, local insurer on the lookout for acquisitions

August 20, 2007

Don’t expect OneAmerica Financial Partners Inc.’s purchase of a $700 million annuity portfolio last month to be its last big-ticket buy. The Indianapolis-based insurance holding company says its executives and heads of its various product lines are constantly on the prowl for acquisitions. But don’t hold your breath for the company’s next deal. Its purchase of annuities from Iowa-based Transamerica Life Insurance Co., announced July 24, took two years to come together. So did its previous acquisition, the 2005 purchase…

SPORTS: Plenty to chew on for sports fans of every stripe

August 20, 2007

You leave town for a little vacation, but that doesn’t mean the world of sports is going to stop spitting out news. Therefore, thoughts about this, that and the other while I was away: News item: Barry Bonds breaks Henry Aaron’s home run record. Thought: Yawn. I ceased to care long ago. Major League Baseball has gotten what it deserved for ignoring the steroid issue for so long. News item: Tiger Woods wins his fourth PGA Championship, his second in…

MICKEY MAURER Commentary: The right men for a tough job

August 13, 2007

In response to the sticker shock experienced by many Hoosiers upon opening the envelope from the property-tax assessor, Gov. Mitch Daniels announced a number of major moves. He ordered new assessments in Marion County and other counties throughout the state; a tax bill freeze in these counties to the 2006 levy; and the creation of a commission on local government reform, co-chaired by Indiana Supreme Court Chief Justice Randall Shepard and former Gov. Joe Kernan. The mission of the commission…

Did mortgage losses spur sudden First Indiana sale?:

August 13, 2007

First Indiana Corp. announced poor second-quarter financial results Aug. 7-which raises this interesting question: Did the city’s biggest locally owned bank race to sell itself last month because the results otherwise would have caused its stock to tumble? Even before the earnings report, banking observers were abuzz that the $529 million sale to Milwaukee-based Marshall & Ilsley Corp. seemed rushed. While many expected First Indiana to sell eventually, CEO Robert Warrington had seemed hellbent on improving results first to drive…

EYE ON THE PIE: Are big counties getting all the goodies?

August 13, 2007

Are the most-populated counties of the northeast and southwest corners of Indiana improving their economies faster than their regional neighbors? Indiana is very sensitive to this issue. Throughout the state, people resent the presumed primacy of Indianapolis, which serves as the center of Hoosier government and business. Those outside Marion County claim that all the goodies go to Indianapolis and the rest of the state gets only the leftovers. Are the carpers right, or are they deluded by a residual…

Fieldhouse must fend off Louisville arena rival

August 13, 2007

Although the opening of a 22,000-seat arena in Louisville is still three years away, officials here are already bracing for
a raid on Indianapolis and Conseco Fieldhouse events. Several Indianapolis interests will be watching Aug. 20 as the Louisville
Arena Authority unveils designs for the arena along the Ohio River.

Lots of empty new houses on market, expert says

August 10, 2007

Forty-six percent of new houses in the nine-county Indianapolis area are unoccupied-barely an improvement from the 49 percent of early this year. The figure were compiled by Market Graphics, a Nashville, Tenn., firm that researches housing stock in 30 Midwest and Southern cities. Market Graphics owner Edsel Charles said ongoing problems with mortgage foreclosures appear […]

Judge puts Benicorp Insurance into receivership

August 9, 2007

A Marion County judge has appointed the Indiana Department of Insurance as receiver of Benicorp Insurance Co. to protect the ailing company’s 52,000 policyholders, the department announced today. Marion Circuit Judge Theodore Sosin appointed Insurance Commissioner Jim Atterholt to oversee the transfer of Benicorp customers to Minnesota-based UnitedHealthcare and, potentially, to liquidate Benicorp’s assets. Indianapolis-based Benicorp has […]

Consumers wary of ‘greenwashing’ by companies

August 6, 2007

With the gospel of global warming raising the call for “green-ness” to a near-hysterical pitch, there’s a growing sense that
creating an earth-friendly image will bring companies a strategic advantage. Yet the contradictions between what companies
do day in and day out and what they do to improve the environment can create a marketing minefield.

CHRIS KATTERJOHN Commentary: On races revered, refined and rowdy

August 6, 2007

Now that this year’s Brickyard 400 is behind us, the Indianapolis Motor Speedway is making major capital investments that will lay the groundwork for another new era at the Brickyard. To the tune of several million dollars, crews are now preparing to repave the track and alter the former F-1 course for the introduction of motorcycles in September 2008. These are the latest improvements in a string of many over the last dozen years that have paid off for both…

Against the odds, Emmis grows publishing division: Unsung unit now one-fourth of company’s revenue

August 6, 2007

At a time when many print publishers are wringing their hands at the prospect of losing readers to the Internet, Emmis Communications Corp. is experiencing surprising growth in its magazine division. With the acquisition of Orange Coast last month, Emmis owns seven city-based magazines and one nationally distributed magazine. And the publishing division, with 406 of Emmis’ 1,300 employees, is the company’s fastest-growing. “City magazines like the ones Emmis has are doing quite well,” said Abe Peck, chairman of journalism…

SPORTS: There’s still time to savor a championship season

August 6, 2007

The Indianapolis Colts are back at it, and with their arrival in Terre Haute (which is French for “terribly hot”) comes the first round of predictions. Will they or won’t they back up their Super Bowl championship? Hey, we’ll all find out in the dead of winter, not the heat of summer … how’s that for not being either bold or profound? But words in the first week of August are just so much blah, blah, blah. So, too, as…

Hotel glut developing downtown: Lodging projects could lift room totals by 40 percent

August 6, 2007

The 10 hotels either under construction or in the planning stages downtown would increase the amount of rooms in the city’s center more than 40 percent-a far greater number than the market likely could absorb, experts fear. The projects are largely in response to Lucas Oil Stadium, slated to be completed by August 2008 and an expansion of the Indiana Convention Center that will nearly double its size by 2010. If all 10 hotel projects come to fruition, almost 2,300…

MICKEY MAURER Commentary: Banker’s exit won’t end good deeds

July 30, 2007

Indiana, as you know, has not escaped the inevitable crush of consolidation in the banking industry. No one should have been surprised by the announcement that First Indiana Corp. was selling itself to an out-of-state bank, Milwaukee-headquartered Marshall & Isley Corp. In spite of the best efforts of M&I, The National Bank of Indianapolis, of which I am chairman of the board, will add business as a result of this transaction. Some of First Indiana’s customers prefer to deal with…

Pan Am buyer to raze rinks

July 30, 2007

A Texas firm has agreed to buy Pan Am Plaza’s 12-story office building and skating rinks and is planning to replace the rinks
with a more-than-$50-million restaurant and retail development.

Dealers say mileage mandates are too much, too soon: But consumer group contends heightened demand for fuel-efficient vehicles should allay industry’s fears

July 30, 2007

The region’s largest consumer advocacy group is trying to counter efforts by Indiana car dealers who want to water down higher fuel economy standards passed by the U.S. Senate. Citizens Action Coalition has been rallying its base to pressure the Indiana delegation to stand behind aggressive fuel economy targets that would require a carmaker’s fleet to average 35 miles per gallon by 2018. With gas supplies pinched and prices relatively high,”this is a very current and important issue,” said Dave…

VIEWPOINT: Indy a home run for College World Series

July 30, 2007

As I sat last month enjoying my first College World Series week in Omaha, Neb., an evening game between the North Carolina Tarheels and the Rice Owls, it became clear to me that this nationally u n d e r a p p r e c i a t e d event would be perfect for Indianapolis. Or better said; Indianapolis would be perfect for the College World Series. Now, before CWS purists begin to chant “57 years!” “57 years!,”…

BEHIND THE NEWS: Now it’s time for Hhgregg to prove itself-again

July 30, 2007

Hhgregg Inc. has been around for 52 years. Forget about all that. To Wall Street, the company is an upstart that’s yet to prove itself. Such is the reality for the Indianapolis-based retailer of consumer electronics and appliances, which staged its initial public offering July 19. It raised $48 million by selling shares at $13 apiece. Three institutional investors collected another $74 million by scaling back their holdings. Now, Hhgregg’s considerable accomplishments-including more than $1 billion in annual sales and…

Emmis adds Orange Coast to magazine stable

July 26, 2007

Indianapolis Monthly publisher Emmis Communications Inc. has bought Orange Coast Kommunications Inc., which publishes Orange Coast magazine in Orange County, Calif., for undisclosed terms. Orange Coast has 26 full- and part-time employees and has a circulation of about 60,000, Emmis announced yesterday. Orange County is a wealthy enclave south of Los Angeles. Former owner Ruth […]

UPDATE: WellPoint stock stumbles on customer losses

July 25, 2007

Investors whacked WellPoint Inc. stock this morning after the Indianapolis-based health insurer tamped down expectations for customer growth. WellPoint said in its second-quarter earnings report that it lost 108,000 customers in the three months ended June 30 and now expects to add 400,000 fewer customers than it predicted in April. Its shares dropped more than […]

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Articles

OneAmerica methodical in approach to new deals: Flush with capital, local insurer on the lookout for acquisitions

SPORTS: Plenty to chew on for sports fans of every stripe

MICKEY MAURER Commentary: The right men for a tough job

Did mortgage losses spur sudden First Indiana sale?:

EYE ON THE PIE: Are big counties getting all the goodies?

Fieldhouse must fend off Louisville arena rival

Lots of empty new houses on market, expert says

Judge puts Benicorp Insurance into receivership

Consumers wary of ‘greenwashing’ by companies

CHRIS KATTERJOHN Commentary: On races revered, refined and rowdy

Against the odds, Emmis grows publishing division: Unsung unit now one-fourth of company’s revenue

SPORTS: There’s still time to savor a championship season

Hotel glut developing downtown: Lodging projects could lift room totals by 40 percent

MICKEY MAURER Commentary: Banker’s exit won’t end good deeds

Pan Am buyer to raze rinks

Dealers say mileage mandates are too much, too soon: But consumer group contends heightened demand for fuel-efficient vehicles should allay industry’s fears

VIEWPOINT: Indy a home run for College World Series

BEHIND THE NEWS: Now it’s time for Hhgregg to prove itself-again

Emmis adds Orange Coast to magazine stable

UPDATE: WellPoint stock stumbles on customer losses