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Commentary: Welcome to Wall Street, the sequel

Author Tom Wolfe wrote a bestseller in 1987 called, “The Bonfire of the Vanities.” The title of the book alluded to 15th century Italy, when religious fanatics staged public fires at which they burned items thought to encourage lives of sin, things like mirrors and cosmetics. Wolf’s “Bonfire” popularized the term “masters of the universe” to refer to shallow, highly compensated Wall Street types who made big bucks and lived lavish lifestyles, often at the expense of others. The novel…

SPORTS: Some stop paying, start playing when money’s tight

Goodness knows, I’m not an economist. One look at my checking account would confirm that. So as my wife and I gather in front of the evening news and try to digest the ups and downs of the stock market along with our dinner, we, like most Americans, can only hope and trust (?) that our wiser (?) government and financial leaders will find a way out of the morass. We’re luckier than many. Our children are raised and college…

Education causes attract state foundations’ support: Rate of giving outpaces national average 2-to-1

Nearly half the money Indiana foundations gave away in 2005 went to educational organizations-more than twice the rate of such giving nationally, according to a new study from Indiana University’s Center on Philanthropy. All told, the state’s independent, corporate and community foundations awarded $450 million in grants to support education, 47 percent of the $965 million total. Nationally, about 23 percent of foundation giving goes to education. “My intuition tells me … foundations are making education a priority as the…

THE TRAVELING LIFE: Walking-and dancing and dreaming-in Memphis

In past columns, I have written about travel to far away places, but there are plenty of discoveries to be made and interesting sights to be seen in cities closer to home. Our recent four-day trip to Memphis is a case in point. We made the obligatory stop at Graceland, where the tagline on all their brochures and ads says, “Where Elvis lives.” Interesting, but we were more intrigued by Sun Studios, where the story really began. That’s where the…

ECONOMIC ANALYSIS: How 9/11 attacks helped set stage for financial crisis

After just two tumultuous weeks of financial crisis, the blame casting already has begun in earnest. A little deeper analysis might be warranted before jumping to conclusions. I am going to indulge in the combination of my two careers-one military and one scholarly-to focus on one issue. The Sept. 11, 2001, attacks focused limited Al Qaeda resources on the U.S. economy and the command-and-control systems of our military. The latter attack failed miserably (due both to the robustness of our…

Will little transit systems make bigger footprint?: Study to look at economies, new opportunities to grow and coordinate rural bus systems

They’re overshadowed in all the talk of a commuter rail line and its cosmopolitan allure. And they don’t get headlines like Indy-Go does when it launches another route to whisk Carmel and Fishers suburbanites to work downtown. But rural transit providers in the nine doughnut counties quietly generate economic growth by hauling hundreds of thousands of people each year in small buses or vans to doctors’ offices, shopping centers and jobs. Suburban businesses have been grousing for years that the…

Creativity pays off for firms: Business owners delay projects, seek alternate funding sources

Large Wall Street firms with a taste for bad debt aren’t the only institutions weathering a financial storm these days. In a classic case of trickle-down bad news, small businesses are suffering as well. But instead of facing a maelstrom, firms seeking expansion funds and entrepreneurs looking for startup cash are enduring a drought. Access to capital has dried up as spooked banks relentlessly tighten their loan requirements. That translates into greater scrutiny of business plans, bigger demands for collateral…

VIEWPOINT: Think you can move fast? Look at China

This month, I am making my 50th trip to China. My first trip was in 1995 to identify a possible Chinese partner for a manufacturing joint venture in Nantong. When the potential partner honored me by serving a coiled snake as one of the main dishes, I thought, “What am I doing here?” But that’s what change is all about-delving into the unfamiliar. Four years later, we had found a trusted partner, signed a joint venture agreement, located the proper…

VC firm raises $116M for second fund after knocking first one out of park

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.

RETURN ON TECHNOLOGY: Is securing data worth the cost at your company?

You know, I love my business brethren. I really do. I admire their tenacity, their courage, their competitiveness. But I have to admit that we are a penny-pinching bunch, and sometimes it impinges on our ethics in ways that are a little embarrassing. An article in a Wall Street Journal blog (www.blogs.wsj.com) points out an example. Technology professionals have long groused that, while their employers talk about securing data properly, there’s rarely enough money to do the job well. Security…

Filing in legal battle over telecom company hints at criminal probe of officers

Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company’s court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.

Planned giving: Here’s what to consider: Many charitable techniques can help donors maximize their gifts, tax savings

If you have continuously donated money and time to specific organizations, or if you want to save some money on taxes, or maybe a little of both, planned giving might be a way to continue both of those aims. However, there are a few things to consider, such as how to set up the planned giving, what the money can or can’t be used for, who can speak for your interests after you die, and obviously how much money will…

BEHIND THE NEWS: Crisis may reshuffle city’s star stockbrokers

Turmoil on Wall Street-including Merrill Lynch’s $50 billion sale to Bank of America Corp.- could throw into play some of Indianapolis’ biggest-producing stockbrokers. Charlotte, N.C.-based Bank of America recognizes the risk and is preparing to roll out retention bonuses for its arsenal of 17,000 brokers, 136 of whom work out of the Indianapolis area. “We have the capacity to do that, and would plan to do something because it’s the crown jewel of the company,” Ken Lewis, Bank of America’s…

A&E: Be realistic: Eiteljorg show gets gritty

There are art lovers who will never, ever be able to embrace the kind of work represented in the very representational “Quest for the West” show at the Eiteljorg (through Oct. 5). Featuring Native Americans crouching at riverside, stalwart cowboys trudging through snow-covered silence, bucolic mountains, steadfast wolves (or coyotes-sorry, I’m from New Jersey), and anguished bronzes, much of the work seems to exist independent of the artists. Yes, they seem to have been there to capture the images, but…

Advisers get more bullish on ETF option: SEC decision may lead to widespread appeal of mutual-fund alternative

ETFs have been available in the United States since 1993 and are an alternative to mutual funds that trade just like stocks. But a decision earlier this year from the U.S. Securities and Exchange Commission could broaden their appeal even more. An ETF is a “basket” of stocks that by itself trades on an exchange just like an individual stock. ETFs contain the assets of large or small companies, real estate investment trusts, international stocks, bonds and even gold. For…

Simon Property Group exploring overseas markets

Simon Property Group Inc. has been readying its balance sheet and sizing up buyout targets in hopes of capitalizing on
a worldwide markdown on shopping-center owners.

INVESTING: King Paulson’s quest to kill the free market

Comrades, welcome to the new world order! Please, get in line so we can process your papers. Remember, in the new world, there is no pain. Your benevolent leaders have outlawed all problems. In 1984, I read ”1984,”George Orwell’s novel. I was a little young to grasp the full flavor of the book, but the theme hit a chord with me. I turned to Orwell’s “Animal Farm” a few years later, though, and that work was as clear to me…

EYE ON THE PIE: Economic turmoil hinges on ignorance

What we don’t know does hurt us. Many builders constructed houses assuming there was a continuing strong market of qualified home buyers. Some mortgage brokers and some bankers gleefully ignored or misrepresented the abilities of home buyers to sustain homeownership. Too many home buyers did not bother to learn what their obligations as homeowners would be. They didn’t know about paying property taxes or how adjustable mortgage rates could escalate beyond their capabilities to meet their monthly payments. The companies…