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ECONOMIC ANALYSIS: It’s time we get started on a new state economy

Have you ever plunked down a lot of money for something and worried if you made the right choice? You have plenty of company. To cope with that insecurity, some of us try to persuade our friends to follow our footsteps. We put forth convincing arguments why our brand of car, or our new electronic gizmo, is really the best thing, and feel comforted and vindicated when they make the same choice we made. For too many years, that simple…

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BULLS & BEARS: We have a long way to go bolstering financial literacy

It’s the first of May, hip-hip-hooray, American investors are smarter today! Why are they smarter? Well, they must have improved their financial acumen because Congress designated last month as Financial Literacy Month. In fact, April 25 was Financial Literacy Day in America. Do you mean to tell me the big day came and went and you didn’t even know it? That’s OK. If you subscribe to this periodical, you have a higher net worth and income than the average American,…

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Telecom CEO cited mother’s death in plea to avoid fine: Utility regulators stood firm on $1.1 penalty against Micronet; Wyoming company plans to appeal

Of all the curious legal filings with the Indiana Utility Regulatory Commission since the late 1800s, Frank Santa’s might be the first to use the death of a mother as a defense against financial sanctions. And it’s likely the first utility filing in the last 100 years to include the death certificate of a Hungarian widow. The president of Casper, Wyo.-based Micronet Inc. stated in a Feb. 3 filing with the IURC that his firm shouldn’t have to pay a…

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Alien hirers rarely busted: Law doesn’t force employers to verify that workers are legal

Despite a high-profile raid against IFCO Systems on April 19, Indianapolis employers have little to fear in hiring undocumented aliens or those who present questionable identification. Rarely do immigration cops bust an Indianapolis-area workplace. Until federal agents led away about 40 allegedly undocumented Mexicans and Guatemalans at the south-side pallet plant this month, the last high-profile raid was more than a decade ago. In 1995, customs officials raided the former Simpson Race Products shoe factory in Speedway, nabbing 66 illegal…

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BOOK REVIEWS: “Many Unhappy Returns: One Man’s Quest to Turn Around the Most Unpopular Organization in America”

On the face of it, reading a book on the IRS may seem as appealing as a visitation of the gout. One might view this read as a civic duty-we all owe it to ourselves to learn ways to reform this cumbersome but essential bureaucracy. Rossotti, the IRS commissioner from 1997 to 2002, describes himself as the “first businessman to lead the Internal Revenue Service.” He took over amid accusations of mistreatment of taxpayers, management failures, and growing public anger….

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Racing for the green: Rookie owner risks house and home to realize dream

“If somebody wipes one of them out, the associated residence goes with it,” he says, only half jokingly. Now in his 14th season in t h e m o t o r – sports industry, Crawford, 38, decided to hoist his own flag for the first time this year in the Indy Pro Series, open-wheel racing’s highest minor league. For the record, he’s not a wealthy man. The second property is the only investment he and his wife, Myra, haven’t…

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VIEWPOINT: Latinos and the legal system: no free lunch

Many issues face national and local civil and criminal justice systems across our nation. Years and years of application of Band-Aid remedies to complicated and longterm problems have brought many government systems to the verge of collapse. Marion County is no exception to the rule. Courts are strained with overwhelming caseloads. Average lives of cases continue to increase, clogging jails and courts. Public defender and prosecutor caseloads continue to swell, effectively reducing the quality of representation available to both the…

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Ivy Tech to focus more on results, not just growth: Student success and broader ties with employers among goals of community college system’s five-year plan

After growing its enrollment 75 percent the last decade, Ivy Tech Community College of Indiana is shifting its focus to student retention. A top administrator also wants to expand the number of training courses offered at businesses, as a way to supplement the system’s $253 million annual budget. Some who’ve studied the state’s educational system have recommended that Ivy Tech spend more to hire additional full-time faculty to strengthen its effectiveness. The school’s five-year student retention plan calls for doubling…

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Real estate experts examine the market: Indianapolis in good shape overall, panelists say, but job growth, incentive issues, among concerns

On April 14, as part of its Power Breakfast Series, the Indianapolis Business Journal gathered a panel of commercial real estate and construction experts to discuss industry conditions in the local market. In a discussion moderated by IBJ Editor Tom Harton, panelists took on a wide range of issues, including tax incentives and the status of downtown’s residential and retail markets. Power Breakfast guests were Mike Curless, executive vice president and principal with Lauth Property Group; Mike Wells, president of…

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Ending overdue: Library shows progress amid legal tussle

There’s finally visible progress on the city’s Central Library expansion project. But the litigation over who’s responsible for its construction problems still has no end in sight. City-County Councilor Isaac Randolph is frustrated. So he wrote a proposal to order all the players in the Indianapolis-Marion County Public Library’s legal dispute to enter binding arbitration. “I’m trying to find a resolution to what’s clearly become an embarrassment to the citizens funding this,” Randolph said. “I’ve lost confidence in the leadership…

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BULLS & BEARS: Day-to-day market headlines get in way of wise investing

Every day, the financial press and market pundits provide us with the reason for the previous day’s stock market activity. Following a down day, we might read an article headlined, “Investors sell stocks on fears of rising inflation.” Perhaps the next day the market rises and we see, “Stocks climb as investors see end to Fed interest rate increases.” What exactly happened overnight that caused this apparent shift in sentiment? Did investors sleep on it and the next morning collectively…

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EYE ON THE PIE: Let’s open the doors wide to opportunity

Recently, the U.S. Census Bureau released 2004 data showing that Indiana had 264,936 persons of Hispanic origin among its 6,058,930 population. That would mean 4.37 percent of Hoosiers, themselves or their ancestors, came from Mexico, Cuba, Columbia, Puerto Rico, Costa Rica, Panama, Chile and other Spanish-speaking nations. Don’t you just love that precision? 264,936 and 6,058,930 are merely estimates, not census counts. Anyone who has worked with numbers should be embarrassed to be more specific than 265,000 and 6,060,000. The…

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SMALL BUSINESS PROFILE WTH: Firm mapping out its own success Owner shifts focus from old-school engineering to GIS

SMALL BUSINESS PROFILE WTH Firm mapping out its own success Owner shifts focus from old-school engineering to GIS Rex Jones wants to show off his company’s work, so the lights go down, a computer comes on and a map of Starke County appears on a screen. The map is a maze of green lines representing county and local roads, red for state/interstate highways, blue for water. Jones zooms in further, picking a random street in the rural county. Up pops…

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Suburban residents slow to jump on vanpool bandwagon: Neither cost nor environmental advantages stir the masses; advocate says ’employers need to get smarter’

The federally funded Central Indiana Commuter Services has finally won over a dozen workers to share a van to and from work-somewhat of a feat in a region where a vanpool might as well be a bathing option for a conversion van. Besides a vanpool program that runs between Cloverdale and Indianapolis, CICS recently signed on a handful of Fishers residents to share a seven-passenger van between the Hamilton County town and downtown Indianapolis. Lately, CICS has been trying to…

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PAN deal lucrative for owners: Small number of investors share $75 million bounty from Carmel IT firm’s sale

It’s the scenario entrepreneurs dream about. After just over five years in business, the founders of Carmel-based Performance Assessment Network Inc. have sold their company to a publicly traded St. Louis firm for $75 million in cash. Since PAN had only a handful of investors, its backers’ profits are enormous. What’s more, they can enjoy their payday with a clear conscience. Although PAN’s acquirer is headquartered outside state lines, TALX Corp. plans to keep growing the operation here. PAN’s executives…

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CHRIS KATTERJOHN Commentary: Congress should resurrect immigration compromise

As I left work April 10, I noticed a steady stream of cars pulling off Washington Street into the IBJ Corp. parking lot. The cars were full of Hispanics who had come downtown for the Big March. The sidewalks, too, held a steady flow of Hispanics heading east toward what turned out to be one of the largest public political rallies in city history. Most of the people I saw looked young-in their teens, 20s or 30s-and seemed to be…

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ECONOMIC ANALYSIS: Diversifying economy requires new mind-set

The microwave oven has been a staple in most American kitchens for so long that there is now a generation of young adults who’ve never lived without them. And for that same generation, the doughy, limp texture of foods like pizza quick-cooked in a microwave, in contrast to the crisped, browned texture produced over a longer time by conventional heat, is associated with the food, not the technology. If you’ve grown up eating from a microwave, that’s the way food’s…

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INVESTING: Don’t fret over inflation-debt’s a bigger concern

If you have yourself in a lather about rising inflation, maybe I can offer a little relief. You can work your rosary beads over a lot of things, but runaway inflation is not one of them. There’s a little twist here, though. And it’s one that will add a challenge to your long-term strategy. According to our federal government, inflation, as measured by the consumer price index, has not been much of a problem. Excluding food and energy, prices are…

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State will grant parking perks for Prius, other hybrid vehicles:

The right car-not an early arrival or high rank-will soon get state workers the best parking spaces at the Indiana Government Center. As an incentive for its workers to drive less-polluting cars, the state plans to give drivers of hybrid cars the coveted spaces in the basement of the parking garage at West and Washington streets. Those would be the spaces right outside the tunnel entrance to the government center. The hybrid parking signs should go up within a month,…

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EYE ON THE PIE: Election is critical to Gary’s future

Let’s sell Fort Wayne and its surrounding counties to Ohio or Michigan. Or in the spirit of the day, at least we could lease out part of northeast Indiana. If we got rid of Fort Wayne (Allen County) and two counties to the north (Steuben and DeKalb) plus one county to the south (Adams) and one to the west (Huntington), we could decrease our state’s population by 491,500. Why would we want to do that? There’s no good reason to…

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