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Dennis Bane, AIA
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Parking protest: Spurned operator questions airport contracting methods

January 17, 2005

The nation’s largest parking operator is complaining that Indianapolis International Airport canceled its joint-venture contract and handed the business to the local half of the venture without seeking competing proposals. Nashville, Tenn.-based Central Parking Corp. said that, given the chance, it would have offered the airport more to manage the Premier Business Class parking lot than its now-former partner, Global Parking System of Carmel, did. A counteroffer from Central came after the Indianapolis Airport A u t h o r…

BEHIND THE NEWS: Stay tuned: Gregg sale may be prelude to IPO

January 24, 2005

Out-of-towners are charging into Indianapolis to scoop up another one of our marquee companies. It’s an oft-told story, but this time it might just have a happy ending. Finance experts say Los Angelesbased investment firm Freeman Spogli & Co.’s purchase of an 80-percent stake in H.H. Gregg may position the electronics-and-appliance chain to grow faster than if it remained a familyowned company. Under the deal, veteran investment banker Robert Shortle said, “You still have the company headquartered here, the vast…

Terminal move might spur land rush: Midfield project to free choice real estate

January 24, 2005

Overshadowed by the $974 million midfield terminal project is a potential economic development bonanza: the reuse of the existing terminal and surrounding land at Indianapolis International Airport. More than 120 acres along Interstate 465 that today hold parked cars might someday house hotels, shipping operations or even a light-rail station after the midfield terminal opens in about three years. Another 54 acres representing the terminal and its immediate surroundings will be available for aviation uses from air freight to corporate…

Broader Airport Authority sought: Bill would dilute mayor’s pull, give board 4 regional slots

January 31, 2005

A bill in the Legislature seeks to dilute Mayor Bart Peterson’s influence on the city’s airport board by adding four board members, two appointed by neighboring counties and two by the governor. House Bill 1734 would recast the Indianapolis Airport Authority board with more regional representation and a more bipartisan flavor as development encroaches on the Airport Authority’s smaller, suburban airports and as the board approves contracts for the $974 million terminal project at Indianapolis International Airport. The bill with…

George’s role as team owner draws criticism: Some say purchase is conflict of interest

February 21, 2005

Nine years of hunting for sponsors, recruiting and trying to retain drivers, and managing costs that had nearly doubled in recent years had taken its toll. The founder of locally based Kelley Racing shuttered his Indy Racing League team at the close of last season. And with the close of Kelley Racing, a new era for the Indy Racing League opened. Founded in 1996 as an alternative to CART, the open-wheel racing series stepped into what IRL founder Tony George…

Midfield may alter hotel-biz flight path: Hendricks County could gain from new airport terminal

February 28, 2005

Airport Expressway won’t live up to its name for much longer. When Indianapolis International Airport’s midfield terminal opens in 2008, the fast track to flight will be a dedicated entrance off Interstate 70. The move will shift travelers a few miles to the south and west-and take away the direct access that now drives them to expressway hotels. Observers predict hotel development along I-70 will take off as the midfield project nears completion, most likely creating a new hospitality hub…

Barton House awaits renovation: Former nursing home to become housing

March 21, 2005

A long-vacant downtown nursing home is about to find new life as affordable housing. The Indiana division of the Salvation Army plans to convert the Barton House on the northeast corner of Delaware and Michigan streets into 30 apartments for lowincome families and space for some of the organization’s programs. The Salvation Army purchased Barton House and Carpenter apartments, its neighbor to the east, for about $500,000 each in late 1999, said Maj. Dennis Strissel, the Salvation Army’s divisional commander…

Special Report: Flawed funding: Years of guaranteed increases set stage for school crisis

April 18, 2005

Indiana’s decades-long effort to protect shrinking school corporations from drastic cutbacks may well backfire on the very districts that most depend on it-including Indianapolis Public Schools. Critics say the promise of more money regardless of enrollment has allowed some school systems to bloat their budgets, and now state legislators are poised to let the air out. School funding already represents more than one-third of Indiana’s $24 billion, twoyear budget, and lawmakers want to rein in expenses and eliminate a projected…

New barter group begins: Rival files suit claiming execs stole trade secrets

April 25, 2005

A new association offering business owners an opportunity to barter their services among a network of company members has arrived in the city, but not without a legal challenge from a competitor. Tony Sandlin and David Treacy founded Barter Indiana Group after working on a contractual basis at rival Henry Street Trading Co. The two barter organizations and another in the city, the Californiabased franchise BXI Exchange Inc., coordinate the exchange of services among members without involving cash. If a…

Airport goes batty on environmental mitigation: Cost of buying new land for bat habitat is triple estimates, on top of $21.6 million spent since early 1990s

May 9, 2005

The cost of replacing Indiana bat habitat bulldozed to build an Interstate 70 entrance to the midfield airport terminal has tripled from original estimates. The Indianapolis Airport Authority has spent $1.3 million buying new roosting land for the endangered bat, up from a $475,000 estimate published in the Authority’s justreleased annual report. That’s on top of $21.6 million in other environmental mitigation projects at Indianapolis International Airport involving bats and wetlands since the early 1990s. That amount is roughly equivalent…

BEHIND THE NEWS: Chicago Express bidder in several court tangles

June 6, 2005

I n d i a n a p o l i s real estate executive Edward Okun had a low profile in business circles here before he splashed into the news two months ago as the winning bidder for ATA Holdings Corp.’s Chicago Express Airlines. Two weeks later, however, he yanked his offer, valued at $3 million to $4 million. The reversal added to the air of mystery surrounding Okun, a 54-year-old Carmel resident. A closer look at Okun, president…

BEHIND THE NEWS: Duke at a crossroads after impressive run

June 13, 2005

Duke Realty Corp. has quietly made bundles for investors the past five years. But you wouldn’t know it from the tone of recent analyst reports on the Indianapolis-based company, one of the nation’s largest industrial and office developers. “We [compare] Duke’s investment case to that of a large ship, since we believe that it would take the company time to gradually turn its performance around on a course to improved results,” wrote Prudential Equity Group’s James Sullivan. “There is virtually…

Airport seeking more air cargo operations: Carriers that fly to Asia among hot prospects beyond FedEx at nation’s 7th-largest cargo airport

June 20, 2005

When all exports are considered, by air and sea, China is Indiana’s eighthlargest destination, growing 25 percent last year to $294.4 million, according to the Center for International Business Education and Research at Indiana University. Air cargo to China is 10 times greater than a decade ago, Michael Ducker, an executive vice president of FedEx, said in a presentation about China. Airport officials won’t say whom they’ve courted in the cargo realm. “We’re casting a pretty broad net,” said BAA…

Cab drivers drive down complaints: Service may have improved after city toughened rules

June 27, 2005

But much of the evidence is anecdotal, as city officials said they do not have complete complaint records for the periods just before and after the City-County Council imposed tougher regulations in 2002. One key problem addressed by those reforms seems to have diminished-drivers taking passengers to the wrong address. The city received only two such complaints in the last 1-1/2 years, according to records kept by the City Controller’s Office. That had been a commonly reported problem in the…

ITT paid for feds’ aggression: Sweeping probe didn’t lead to charges against firm, top execs

July 4, 2005

On a chilly winter morning 16 months ago, federal investigators converged on ITT Educational Services Inc.’s Carmel headquarters and 10 of its 77 campuses, gathering documents in a high-profile raid that rattled investors and sent the company’s shares into a free fall. Now, the U.S. Attorney’s Office in Houston, which obtained the search warrants authorizing the raid, acknowledges its sweeping criminal probe failed to turn up evidence that would justify charges against the company or its top brass. The turnabout,…

BEHIND THE NEWS: Hat World helps propel parent’s stock out of slumber

July 18, 2005

When Indianapolis-based Hat World Corp. announced its $165 million sale to a Tennessee firm 17 months ago, it had posted increases in same-store sales for an impressive 27 months in a row. Now, make that 42 and counting. Such a streak is almost unheard of in the rough-and-tumble retail world, especially for a firm wrestling with the inevitable distractions that go along with the transition from independence to ownership by a publicly traded company. “We have maintained the same momentum…

Making way for a MONSTER: Airport to dish out millions to accommodate Airbus A380

July 25, 2005

The 7,700 acres that are Indianapolis International Airport may soon look like the city squashed by Godzilla-when big, bad A380 comes to town. And it is likely to cost tens of millions of dollars to keep the beast happy. The A380 is the Airbus Industrie superjumbo jet. Airport managers want to start crunching-er, make that estimating-what it will cost to accommodate the world’s biggest airliner. They plan to ask the Indianapolis Airport Authority board for $200,000 from the 2006 airport…

Indianapolis responds to Katrina devastation:

September 5, 2005

Local philanthropic response to the epic disaster was almost immediate. Television and radio stations alike urged central Indiana audiences to make donations at dozens of collection sites, and the Salvation Army’s Indiana Division broke out its red kettles to help. The corporate community also responded. Gifts made by IBJ’s deadline include: Indianapolis-based Eli Lilly and Co. said it will contribute $1 million to the American Red Cross and match all contributions made by its U.S. employees. Lilly also will give…

IPS seeks property swap: School district will trade prime Mass Ave land if deal is right

September 12, 2005

But an unusual component of the soon-to-be-released request for proposals by Indianapolis Public Schools, the property’s owner, has many wondering if anyone has what it will take to win the coveted piece of real estate. What it’ll take is the offering of a replacement facility where IPS can move its central transportation facility and other school district operations. “That’s the general concept,” said SteveYoung, chief of facilities management for IPS. “We’re not looking to sell it. We would have to…

IRL teams may have to cut staff or broaden horizons: Mechanics could feel biggest impact of shorter season

September 26, 2005

The 2006 Indy Racing League schedule-which is two months shorter and has three fewer races than 2005-has teams considering either cutting staff or expanding into other race series to fill the void. “You hate to make any staff cuts, but that’s one question facing all the [IRL] teams,” said Doug Boles, chief operating officer for locally based Panther Racing. “This is a very competitive industry and to keep your good people, you want to keep them employed year-round.” But with…

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Dennis Bane, AIA