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VOICES FROM THE INDUSTRY: As construction costs rise, older buildings gain appeal

Construction costs continue to rise in the wake of hurricanes, tornadoes, the war in Iraq, the building boom in China and general inflation. The trickle-down effect often lands at the feet of small business owners. According to the U.S. Bureau of Labor Statistics’ Producer Price Index, prices for materials and construction components increased 0.3 percent in February, following a 1-percent hike in January and continuing a threeyear upswing. The average building cost index has increased about 45 percent since 1995,…

ECONOMIC ANALYSIS: Measuring jobs: How to get handle on how we’re doing

Getting a good read on the Indiana economy is harder than you might think. That’s partly because there really is no such thing as the Indiana economy. State borders are, after all, purely legal contrivances that flows of dollars, workers and goods don’t worry much about. We’re a collection of regions, in actuality, some centered within our state’s borders and some not. But it is the public sector that does the scorekeeping on the economy, and it is public officials…

CR Heroes Family Pub: Mom aims to serve up family-friendly pub in Fishers Restaurant, parenting experience helps owner manage her own place

Instead of using her elementary education degree from Ohio State University to teach youngsters, Stephanie Boehm chose to teach managers as a corporate trainer for Olive Garden restaurants. She’s never regretted that decision. Boehm’s background and on-the-job training as manager of a local Outback Steakhouse led to her current career as owner of CR Heroes Family Pub in Fishers. Boehm moved to Indianapolis from Ohio in 1994, when her husband was transferred here. After spending time as a stayat-home mom,…

VIDEO GAME with a message: Local game designer Gabriel Entertainment mixes health education with virtual fun

VIDE GAME with a message Local game designer Gabriel Entertainment mixes health education with virtual fun Few teen-agers would thrill at the prospect of an anti-smoking lecture. But if the same message were embedded in a video game, they might perk up and take notice. Indianapolis-based Gabriel Entertainment is counting on it. The company is just a few weeks away from completing the prototype of its new title, “Ocean Secret.” Aimed at pre-teen and teenage girls, the game is a…

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…

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…

Keeping up with CEDIA: Group’s new boss shares successes, challenges

The locally based Certified Electronics Designers & Installers Association recently selected Don Gilpin as its new executive director. Gilpin, 42, is an eightyear veteran of the trade group and had served as executive vice president. The Minnesota native and Franklin College graduate spoke with IBJ about his appointment and the issues facing the organization. IBJ: As executive director of CEDIA, what is your role? GILPIN: CEDIA has different departments within it, and they range from expo to marketing to legislative…

Bank’s price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity

No wonder word leaked early this year that Union Federal Bank was about to be sold. A new federal filing reveals that a deal had been brewing since early last year-spawned largely by mounting frustration among investors that they were unable to turn their stake in the bank’s privately held parent, Fort Wayne-based Waterfield Mortgage Co., into cash. “The concerns over liquidity were voiced by many shareholders at Waterfield Mortgage’s annual shareholders’ meeting in the spring of 2004,” according to…

SPORTS Bill Benner: Is blowing up Pacers roster a risk worth taking?

On the last day of the regular season, many professional teams schedule “fan appreciation” ceremonies. Judging by the numbers of empty seats in Conseco Fieldhouse, the Indiana Pacers might hold “fan depreciation” night April 19 when the regular season comes to a merciful conclusion. The paying customers, as is their wont, are voting with their feet. Time to spend their evenings at home, or outdoors, enjoying the benefits of daylight-saving time (blame it on Mitch!), rather than witnessing another dark…

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…

FUNNY BUSINESS: Spare me from the dreaded brown-bag lunch

All right, boys and girls, what are we to make of the survey that says worker morale in America is tanking? Harris Interactive conducted the survey for staffing agency Randstad and came up with figures showing only 40 percent of employees said morale at their workplace was good or excellent, down from 44 percent a year ago. This, of course, raises the question: How did it get so high to begin with? I see little good coming from this survey….

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…

Circle Centre’s 4th floor may drum up office tenant: Percussive Arts Society lease could spawn other deals

The Lawton, Okla.-based Percussive Arts Society might announce as early as next month that it’s moving its 12 headquarters employees into 15,000 square feet on the troubled fourth floor of Circle Centre mall, according to a source familiar with the discussion. Roughly 10,000 of those square feet would be a museum that might get bongo enthusiasts and the curious alike to stop by and check out some Thai button gongs and West African talking drums. If all goes as planned,…

Star meetings unusual, not necessarily ethical breach: Political candidates invited to informational meeting

An Indianapolis Star program for political candidates that mixes information about advertising and news policies is raising eyebrows among some area politicos and media specialists. As part of their Campaign Connections program, Star officials hold cocktail receptions for Republican and Democratic candidates to discuss advertising possibilities and to explain news processes, including candidate endorsements on the editorial page. Star officials said the program dates back to the 2002 election. Star Editor Dennis Ryerson said it is made clear that buying…

EYE ON THE PIE: Values, economics go hand in hand

“Why,” I asked myself, “do I write so much about politics when my interests are in economics?” “That’s easy,” I answered myself. “As an economist, I am interested in the decisions that determine who gets what. Many of those decisions are made by politicians. They decide which roads are repaired, whose children get a good education, who gets good medical attention, and who gets mediocre services. They decide who pays how much in taxes, thereby deciding how much we have…

NOTIONS: After Easter, a resurrection of the theocratic kind

On a recent Saturday, after a week of visiting colleges, my son Austin and I found ourselves with most of a day to kill before our return flight from Boston. The Red Sox were on the road. We’d already walked a fair piece of the Freedom Trail. So my friend Alan suggested we hit the Museum of Fine Arts and he’d drive up from Hartford to join us. Austin has a thing for Monet (I’m not sure how many other…

Paid boards spur not-for-profit debate: Critics: If directors won’t give time, who will?

Indianapolis-based USA Funds is a large, complex organization, and members of its governing board are busy people. Same goes for the NCAA, another local not-for-profit with a national reach, a nine-figure budget and directors who are anything but professional volunteers. The two organizations have one key difference, though: USA Funds pays its board members. The NCAA does not. “It’s simply the nature of the world,” said Norm Lefstein, an Indiana University law professor who chairs the compensation committee at student-loan…

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…

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,…