Democratic gubernatorial candidate Jill Long Thompson promises to buoy Indiana’s slumping rural counties with a three-tiered
incentive plan. Republican Gov. Mitch Daniels has a different vision for stoking the state economy. He wants to build on Indiana’s
strengths–such as world-class research at universities–to innovate and create jobs.
Indiana’s most seasoned entrepreneurs aren’t standing idly by as the nation slides into what many economists believe will
be the deepest recession since the early 1980s.
Most of Indiana’s 100 House districts are strongly Democratic or strongly Republican. That means control of the House of
Representatives will come down to a handful of battleground districts–probably fewer than a dozen, political experts say.
A newly filed federal lawsuit alleging widespread abuse of Indiana inmates raises questions about the state’s privatization of prison health care. The Indiana Protection and Advocacy Services Commission, a not-for-profit watchdog organization, sued the Indiana Department of Correction on Oct. 1, charging it regularly segregates mentally ill prisoners into isolation for 23 hours a day. According to the suit, the prisoners are punished by stripping away their clothes and being fed a diet consisting entirely of “nutraloaf,” described as “a…
In a market this topsy-turvy, it’s tempting to panic. Few know that better than Indianapolis’ top investment managers, whose phones these days are ringing regularly. Spooked by Wall Street’s credit crisis, investors are gloomily contemplating asset-allocation strategies that involve stashing cash under mattresses. That would be a huge mistake, local experts warn. Even in tough times, every investor can limit losses. And with savvy help, there are gains to be made. But first, perspective is necessary. “As these events unfold,…
When Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp. crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of a publicly traded life sciences firm with more than 5,000 employees. Even better, the company was ready to launch an innovative new product that promises to improve home health care while simultaneously reducing its cost. A year has passed, but investors still aren’t as…
Not long ago, translation firm Pangea Lingua was one of Indianapolis’ womenowned-business success stories. Its founder, Tamra Lewis, was named to IBJ’s “40 Under 40” list in 1999. Over the next few years, lengthy profiles followed in the pages of The Indianapolis Star and on the cover of Indianapolis Woman magazine. Yet suddenly, the company is out of business-apparently in part because other firms were undercutting it on price. Lewis, who’s in her early 40s, did not return calls left…
Talk about a lump of coal. Purdue University retail expert Richard Feinberg said this morning that retailers might face their worst Christmas season in 15 years. A best-case scenario would be for sales this year to be 2 percent higher than last year, said Feinberg, who directs the university’s Center for Customer-Driven Quality. However, he […]
Thanks to hefty 35-percent gross returns on its $60 million first fund, locally based Centerfield Capital Partners LP has
raised nearly twice as much for its second. This month, the venture capital firm closed on $116 million from a variety of
investors. As before, Centerfield’s 50 limited partners include major Hoosier institutions. But this time, numerous big banks,
insurance companies and pension funds from outside state lines were also investors.
In recent days, as some of Wall Street’s most storied institutions teetered, the mood at Indiana’s largest and oldest investment firm was almost serene. City Securities Corp. managers tracked news tickers and consulted CEO Mike Bosway, who was on vacation in Ireland, via his BlackBerry. But their biggest concern wasn’t the financial underpinnings of their own company. It was tumbling stock prices, which depressed the value of the portfolios of their 15,000 clients. Bosway saw no need to rush home…
Local financial experts anticipate bank credit will tighten, the U.S. economy will slow down and investors will shoulder tough losses in the wake of this weekend’s news that several of Wall Street’s largest institutions are insolvent. “This is going to be an extremely uneasy time for people nearing retirement,” said Ball State University economist Michael […]
A fast-growing Carmel startup is using a blend of innovative software and human guides to answer questions over the phone.
The company could have located on either coast, but instead chose Carmel’s Clay Terrace. And the company, Interactions Corp.,
has raised more than twice as much money as ChaCha Search Inc., a higher-profile startup in a similar business that’s also
housed in Clay Terrace.
Mayor Greg Ballard worries his predecessor, Bart Peterson, may have overreached with his ambitious tax-increment-financing
district for the last phase of Fall Creek Place. That phase of the renewed urban neighborhood isn’t producing enough revenue
to support its $6.2 million in outstanding bonds. And Ballard is not sure all of Marion County’s 37 other TIF district are
necessary, either.
These are tough times for chambers of commerce. It’s always been difficult to show dues-paying members they’re getting a return on their investment. And now online social networking sites such as LinkedIn and Facebook are rapidly encroaching on chamber business. But chambers won’t cede their turf without a fight. That’s why D.J. Muller, 42, has been able to build a fast-growing company replicating locally what the Internet giants do best. His Avon-based IT firm WebLink International Inc. provides management software…
Republican Gov. Mitch Daniels is building his campaign for re-election in part on another attempt to cash in a jackpot on the Hoosier Lottery. This time, he’s hedging his bet. In case leasing the Hoosier Lottery outright to a private operator is politically impossible, Daniels is exploring a major bond issue backed by its future revenue.
Carmel-based ChaCha Search Inc. has been winning accolades and enough teen fans to rival Hannah Montana. But none of that makes it apparent how the company can make money giving free answers to random cell phone queries.
Republican Mayor Greg Ballard has replaced the last of the top economic development officials lingering from the Democratic administration of former Mayor Bart Peterson. This morning Ballard announced new leadership for both Indianapolis Economic Development Inc. and the Indianapolis Private Industry Council. Scott Miller, the former president of business landscaping firm Mainscape Inc., replaces Jeb […]
Maybe it’s a stray dog rooting through your garbage. Perhaps someone has abandoned a car amid the potholes riddling your
street. Either way, Indianapolis offers a one-stop shop for irate residents to complain. Just dial the Mayor’s
Action Center at 327-4MAC. Then get ready to wait. And wait. So long, in fact, that close to half of the
MAC’s callers hang up in frustration.
Interactive Intelligence Inc. is enduring a serious stock slump. Its battered shares are trading around $10, about $20
off their 52-week peak. Yet CEO Don Brown remains so bullish on the software maker that he’s authorized a $10 million stock
buyback.
