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Museum deflects pork perceptions: Policy wonks decry grant of $12.5M in transportation funds

August 22, 2005

“Why are taxpayers in California and Texas and Massachusetts paying for a museum in Indianapolis?” David Boaz, executive vice president of the Washington-based Cato Institute, wrote on the think tank’s Web site in May as the bill was coalescing. The Children’s Museum of Indianapolis landed the grant under the $286 billion transportation bill signed by President Bush this month. The grant was included in the bill courtesy of Rep. Julia Carson, D-Indianapolis. “Congress constantly uses the Department of Transportation’s budget…

Real estate investment trusts buck slump predictions: REITs outperforming major stock market indexes so far this year; Simon, Duke and Kite doing well locally

August 15, 2005

For the second quarter, the National Association of Real Estate Investment Trusts Composite Index posted a return of 13.52 percent, boosting its year-to-date return to 4.9 percent. For the quarter, that’s more than three times any of the other equity indicators, the highest of which, the Russell 2000, posted a 4.32-percent return. The Russell 2000 also has the second-highest year-todate returns at 5 percent. Real estate investment trusts are due for a downturn, according to many stock analysts, but they’ve…

Deal giving edge to unions muddies midfield contracts: Non-union contractors question whether bidding on project is worth the trouble

August 15, 2005

A construction agreement that requires union wages, work rules-and union workers-at the midfield terminal project has big and small businesses alike concerned they’ll be shut out of all but the tiniest contracts on the $300 million building. Unless Janet South’s painting firm Deco Group agrees to accept those terms, she’d only qualify for projects of $75,000 or less-the threshold at which the agreement kicks in. That limitation, contained in the project labor agreement attached to the midfield terminal, contrasts with…

Halakar thinks small, deals big: Real estate services firm quickly finds its niche

August 15, 2005

Unlike the 500-pound hammerhead shark mounted on a wall in Todd Maurer’s office, Halakar Real Estate intends to remain a small fish in the large pond of commercial real estate brokerages. But the company launched by Maurer, 34, and Ralph Balber, 36, is already making a splash despite its brief, twoyear existence. While Halakar has carved out a niche in the downtown Class B office space market, it also commands enough respect to broker larger deals. Halakar and Indianapolis-based Colliers…

BULLS & BEARS: Share buybacks can be good use of excess cash

August 15, 2005

Long-term investors benefit greatly when a company is able to reinvest its excess earnings into projects that, in turn, produce a high rate of growth in future earnings. When management can expect these investments will produce more than a dollar of value for each dollar spent, the internal compounding of reinvested earnings creates business value and will be reflected in the stock market by a rising stock price. In addition to reinvesting earnings, a company has other alternatives available in…

VIEWPOINT: Signs of economic recovery all around us

August 15, 2005

After weathering some difficult times over the last few years, there are encouraging signs that central Indiana has turned the corner on its road to economic recovery. The Indianapolis metro area added 22,000 jobs in the year ending in March-a 2.4-percent increase-and in May, the Indiana unemployment rate dipped below the national average for the first time since December. All signs point to continued modest growth. Patrick Barkey, IBJ contributor and Ball State University economist, says, “We should expect to…

SPORTS: Tiller rescued Purdue but isn’t immune to critics

August 15, 2005

This year the NCAA mandated that Division I-A football media guides be reduced to a uniform 212 pages. Keep in mind that these fonts of information intended for inkstained wretches had morphed into voluminous pitch-tools for recruits and brag books for boosters. The cutback didn’t prevent Purdue’s sports information office from devoting a copious 11 pages of copy in its 2005 guide to Joltin’ Joe Tiller. Perhaps I (or you, dear reader) should read nothing more into that other than…

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

August 15, 2005

Condominiums are hot. Apartments are not. In many cities, that current market truism among would-be renters has led to a wave of conversions of apartment complexes to condos. But not in Indianapolis. To date, only a handful of apartment complexes have successfully made the leap from rental to for-sale, notably Lion’s Gate at 86th and Meridian and Ladywood Estates near Emerson Avenue and 56th Street. Much of the reason has to do with the affordability of single-family housing in the…

New names shake up radio market ratings: Hank and Jack see gains; WFMS and WFBQ lose ground

August 8, 2005

Two radio newcomers known as Hank and Jack are two-stepping and fist-pumping their way up the local radio ratings ladder. Meanwhile, stalwarts WFMS-FM 95.5 and WFBQ-FM 94.7 have found their grips on the top rungs loosening. The first major reshuffling in local radio station ratings in nearly a decade is having wide-ranging effects on advertising demand and rates. The release of New York-based Arbitron Inc.’s spring rating book July 29 touched off a flurry of debate about who won and…

BULLS & BEARS: This would be wrong time to turn bearish on stocks

August 8, 2005

“The stock market stinks and isn’t going to get any better.” That, in a nutshell, is what a bearish soothsayer espoused recently in Barron’s. He said the tech-stock bust, 9/11, the Iraq War and frequent terrorism would keep a lid on returns for several years. He’s right about the market stinking. Most stock market investors haven’t made a nickel since the new millennium began. Starting at the beginning of this decade through the end of June, $10,000 put into the…

Local firm sues drugmakers over disclosure:

August 8, 2005

An Indianapolis law firm is the latest in the nation to bring a lawsuit against the makers of non-steroidal, anti-inflammatory drugs. Price Waicukauski Riley & DeBrota LLC filed a suit July 27 in U.S. District Court in Indianapolis on behalf of 21 trade unions in Indiana and surrounding states against the maker and marketers of Celebrex: Pfizer Inc., Pharmacia Corp. and G.D. Searle & Co. Celebrex, like Merck and Co.’s Vioxx, is alleged to pose a greater risk of heart…

Industry groups spar over audit proposal: Using parts of Sarbanes-Oxley Act to toughen financial reporting would be costly, unnecessary, NAMIC says

August 8, 2005

Insurance groups are choosing sides in a brewing battle over whether private insurance companies should be forced to adopt elements of the controversial Sarbanes-Oxley Act. The Kansas City-based National Association of Insurance Commissioners has proposed adding parts of the 2002 federal legislation to its audit rules. Public companies are already required to follow the Sarbanes-Oxley Act, which imposes stricter financial disclosure rules. The NAIC represents insurance regulators from all 50 states and is working jointly on the amendment with the…

Quiet approach drawing criticism: President’s lack of visibility hurts IU, some complain

August 8, 2005

Never mind the Herculean task of leading the state’s largest college system in a difficult economic climate; he knew that would be hard. But after two years of long weeks and late nights, he’s facing a more surprising challenge-defending himself from critics who question his ability to get the job done. IU seems to be adrift, naysayers argue, and so far Herbert doesn’t seem to be doing much to get it back on course. “It is with great regret that…

State sipping on answers from Veolia Water utility: Regulators wonder if capital spending is adequate

August 8, 2005

About one-third of the 30 questions state regulators sent to Veolia Water Indianapolis in June relate to whether the operator of the city’s water system has designated enough money for capital improvements to meet demand and sustain water pressure during dry spells. “Please identify and provide the details for all capital improvement projects, system improvements and master plans, including proposed plans, for IW. When were those plans, if any, last revised?” read a typical question from the Indiana Utility Regulatory…

Dose of OPPORTUNITY: Wellpoint, other health care insurers forge strategies to grab their share of Medicare drug-plan business

August 8, 2005

Afresh market that could be worth billions of dollars lies just over the horizon for health insurers like Indianapolis-based WellPoint Inc. Medicare, the U.S. government program for the elderly and disabled, will add a prescription drug benefit starting Jan. 1, and it could spend as much as $60 billion next year on medicines for 30 million people, according to Bloomberg News. But before insurers can start cashing in on this potential, they must develop their drug plans, win over some…

SPORTS: Before the first kickoff, all is well on IU gridiron

August 8, 2005

C H I C AG O – Almost a year ago in this space, I wrote about IU’s then-new athletic director, Rick Greenspan, observing that his arrival coincided with the beginning of football season, which would allow him to be immediately confronted with the Athletic Department’s most pressing and obvious problem. Under Gerry DiNardo, an uninspired choice to begin with, Hoosier football was continuing its mired-in-the-muck ways, hopelessly spinning its wheels. Horrible as a game coach and even worse in…

Rising star in GOP recasts job agency: New chief uses secret shoppers, dress code to shake up state’s work force development

August 8, 2005

Indiana Department of Workforce Development Commissioner Ronald Stiver says the world is flat, with the United States no longer having mountainous advantages over other nations. And Stiver knows Hoosiers must prepare for it to get even flatter. “You’re talking to the converted,” Stiver said. “I believe in the 21st century, the major lever for economic development will be work-force development.” Stiver, 31, is reorganizing DWD with the new flat world in mind. He envisions an agency that moves beyond doling…

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

August 1, 2005

Have you heard about the wild party that’s going on? It’s not one of those parties with wine, women and song. It’s all about buying and selling, and making lots of money. And, for some Americans, at least, it’s being done from the comfort of their own homes. It’s called the housing market, and in some corners of the country, it’s a rowdy affair. In coastal California and Florida, the price of homes is going up so fast it is…

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

August 1, 2005

With a new name, new floor plans and a new marketing team, the developers of the former Market Square Arena site are gearing up to make another go at building a high-rise condominium tower on the east side of downtown. Developers hope the new designs, crafted with the assistance of Chicagobased Mesa Development LLC, will jump-start the tower, now more than a year behind schedule and saddled with a lien from a former key player. The first phase of One…

SPORTS: Lance Armstrong miracle started here…or did it?

August 1, 2005

It is 10 a.m. on July 24 and, from several thousand miles and an ocean away, it is being reported that Lance Armstrong has, indeed, won his seventh consecutive-and last-Tour de France. I pick up the telephone and dial Dr. Lawrence Einhorn at his home here in Indianapolis. “What a way to go out,” says the doctor, the pleasure obvious in his voice. “And it still gives me goose bumps.” What a championship pairing: Lance Armstrong, cancer survivor. Lawrence Einhorn,…

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Articles

Museum deflects pork perceptions: Policy wonks decry grant of $12.5M in transportation funds

Real estate investment trusts buck slump predictions: REITs outperforming major stock market indexes so far this year; Simon, Duke and Kite doing well locally

Deal giving edge to unions muddies midfield contracts: Non-union contractors question whether bidding on project is worth the trouble

Halakar thinks small, deals big: Real estate services firm quickly finds its niche

BULLS & BEARS: Share buybacks can be good use of excess cash

VIEWPOINT: Signs of economic recovery all around us

SPORTS: Tiller rescued Purdue but isn’t immune to critics

Condo wave a ripple locally: Shelved conversions show area not following in national footsteps

New names shake up radio market ratings: Hank and Jack see gains; WFMS and WFBQ lose ground

BULLS & BEARS: This would be wrong time to turn bearish on stocks

Local firm sues drugmakers over disclosure:

Industry groups spar over audit proposal: Using parts of Sarbanes-Oxley Act to toughen financial reporting would be costly, unnecessary, NAMIC says

Quiet approach drawing criticism: President’s lack of visibility hurts IU, some complain

State sipping on answers from Veolia Water utility: Regulators wonder if capital spending is adequate

Dose of OPPORTUNITY: Wellpoint, other health care insurers forge strategies to grab their share of Medicare drug-plan business

SPORTS: Before the first kickoff, all is well on IU gridiron

Rising star in GOP recasts job agency: New chief uses secret shoppers, dress code to shake up state’s work force development

ECONOMIC ANALYSIS: Hoosiers are wallflowers as housing party rocks on

MSA redevelopers set to make another run at tower: Project takes on new moniker as it rolls out redesigned condominium plans

SPORTS: Lance Armstrong miracle started here…or did it?