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CHRIS KATTERJOHN Commentary: LaSalle economist holds court

Now that President Bush has named both his candidates for Supreme Court vacancies and one has been confirmed, we can expect news soon of an appointment that is more important to businesspeople and markets. That would be the replacement for Alan Greenspan, chairman of the Federal Reserve Board, who retires Jan. 31. Greenspan has been in his seat 18 years and has presided over a period of strong economic growth, low inflation and interest rates, and a tremendous stock market….

INVESTING: Investors: Fear market as you would hungry crocodile

Twenty-one years. Twenty-five years. Sixteen years. This is how long it took the three bear markets over the last 105 years to get back to their pre-bear peaks. We are now more than five years from the peak of the greatest bull market in human history. How much longer will this one take? Judging from the levels of insanity present at prior tops, we could be here a while. It took 25 years to reclaim the 1929 market highs. The…

NOTIONS: Government intervention from cradle to grave

My mother always said that if aliens arrived from outer space to study life in America, they’d never be able to figure us out. Had I listened to my mother (instead of arguing partisan politics with her), I might have been better prepared for last week’s visit from my friend, E.T. E.T. arrived all agog after intercepting some of my inbound e-mails in cyberspace. “I’m totally confused,” E.T. said. “So am I,” I said, “but that’s normal. You, on the…

Premiums continue to climb: Rate increases may dip, but not by very much

After four years of double-digit rate hikes, average health care insurance premiums rose less than 10 percent in 2005. And they’re expected to rise less than 10 percent again in 2006, according to several national surveys. But excuse employers if they don’t get excited about the trend. They are still faced with having to pay much higher prices or trimming benefits-or both. Health care insurance premiums this year increased 9.2 percent, a 2-percent drop in the average increase from the…

Taking aim at the middle: New Conseco Insurance leader says growth will be found in average households

Four months into his job as president of Conseco Insurance Group, Michael Dubes is explaining his strategy to return the subsidiary to profitability. Then, ice cream enters the conversation. Dairy Queen, he argued, continues to thrive despite an onslaught of competitors offering more expensive treats. The key to the franchise’s success is that it has never wavered from its middleincome target audience, Dubes said. He is applying the same simple tactic to grow the group’s portfolio of policyholders, while many…

BEHIND THE NEWS: Another Smulyan surprise? Exec could take Emmis private

Emmis Communications Corp. CEO Jeff Smulyan has struggled to keep Wall Street happy the last few years. He might not have to worry about that much longer. At least three Wall Street analysts have said in recent reports that Smulyan, Emmis’ controlling shareholder, might take the radio-station company private. Asked about that scenario during an interview with IBJ, Smulyan said nothing to quiet the chatter. “Everything is under consideration,” he said. “There is nothing that’s not under consideration.” Key reasons…

‘Big gun’ rides into Irving case: Prominent attorney Susman won $900M from Microsoft

Irving Materials Inc. may appreciate that folksy quip after sparring with Houston attorney Stephen D. Susman. The broad-shouldered Texan who once prosecuted Hamlet in a mock trial for charity (Hamlet was convicted) has been named co-lead counsel for construction firms suing Greenfield-based IMI in federal court here over concrete price-fixing. In 1989, Susman defended U.S. House Speaker Jim Wright against ethics charges in a flamboyant style that ruffled the Volvo-driving sensibilities of Beltway Yankees. Susman, 64, called his dapper opponent…

Were IPL earnings too big?: Secret biz plan: Execs feared state would order refunds

In May 2003, the top brass at IPALCO Enterprises Inc. was running the numbers and saw potential regulatory trouble down the line. The latest projections showed the Indianapolis Power & Light Co. parent would earn a return on equity more than double the industry average for years to come, according to a confidential business plan drafted that spring. Not only might state regulators question whether IPALCO was earning too much money from customers, they also might apply existing case law…

Retooling telecom: As rivals proliferate, SBC taps executive to overhaul offerings

Few industries have been as overrun by competitors as the Baby Bells-SBC Communications and other phone companies created through the breakup of Ma Bell AT&T in 1984. The San Antonio-based owner of what used to be Indiana Bell now competes along with local telephone exchange carriers that have carved out an estimated 20 percent of residential service in the state. Lately, cable TV companies such as Comcast have offered phone and broadband over the same, old coax cable that carries…

TOM HARTON Commentary: Luring people with bricks, mortar

A parking garage is about to rise on a vacant lot at 120 E. Washington St. It’s ironic that a block or so west of the site, a group of architects, city planners, real estate developers and leaders of the city’s arts movement meet on a regular basis to plot against such garages. The garage in the works isn’t just any garage. In its current design, which is yet to be approved, it’s only a garage. No ground-floor retail. Just…

BULLS & BEARS: Hedge fund fees should link pay to performance

A performance, or incentive, fee is an arrangement where the investment manager is compensated by collecting a percentage of the annual profit earned by an investment fund. Performance fees, when properly structured, can be a fair deal for both the investor and the investment manager. However, pay for performance is a bit of a misnomer when it comes to the fee structure of many hedge funds today. Often, hedge fund managers can receive substantial compensation even if their fund produces…

Putting spotlight on art for new midfield terminal:

Alpha Blackburn, president and CEO of Indianapolis-based Blackburn Architects Inc., has been involved with the midfield terminal project from the very beginning. As one of the owner’s technical representatives, Blackburn Architects serves as a sounding board for the general aesthetics of the building. Blackburn, who has a master’s degree in fine arts, is now focused on something near and dear to her heart-overseeing the integration of artwork into the facility. “I feel especially appreciative of the fact that my background…

BEHIND THE NEWS: Exec tries to rewrite baseball legacy, but boo-birds abound

Emmis Communications Corp. CEO Jeff Smulyan ended up black and blue the last time he owned a baseball team. This time around, he’s taking blows even before he finds out whether he gets the team. Smulyan wants both Emmis shareholders and residents of the Washington, D.C., region to be excited about his group’s bid to buy the Washington Nationals from Major League Baseball for at least $450 million. But already leading an anti-Smulyan charge is Washington Post columnist Thomas Boswell,…

Pathway to growth: Production firm’s storytelling attracts national attention

Despite a wall lined with Emmy Awards and a client list including ESPN and VH1, Pathway Productions founder Michael Husain is as eager to talk about corporate work and Web site development as his firm’s latest Peyton Manning documentary or his work showcased in this year’s Heartland Film Festival. “The new media side of our business, and that includes Web site development, grew 100 percent in each of the last two years,” Husain said. “So you can see why we’re…

Tenacious spirit pays off for top real estate agent: With $45 million in 2005 home sales, Bif Ward just doesn’t give up when it comes to serving clients

Bif Ward has racked up some impressive numbers during her 26 years in residential real estate, and many think that’s because she caters exclusively to A-list clientele with pricey properties to buy and sell. But Ward is smart enough to know that brokering only for corporate bigwigs and local celebrities would get her nowhere fast, especially in a town where the average home price is just over $162,000. “All these expensive listings-if that’s all I did, I’d be broke,” said…

Backing home again: CID changes out-of-state course, invests $50M in Indiana

Indiana’s flagship venture capital firm has changed direction. Often criticized for not investing frequently enough within state lines, CID Equity Partners over the last five years has quietly put nearly $50 million to work in 10 Indiana companies. In the decade before, CID invested in just a half-dozen local deals. And after struggling to weather the 2001 recession, CID’s managers believe the wind is finally at their back. Three years ago, massive losses threatened to sink the firm. Since then,…

EYE ON THE PIE: Let’s make Indiana a true hub

Sometimes, the obvious is ignored. It is obvious that, geographically, Indiana holds a central position in North America. But when we think about economic development, we take this obvious point for granted. As business grows and incomes rise across the world, the demand for transportation increases. The question for Indiana becomes, “How much does this increase in demand translate into jobs and income for our citizens?” Most people understand that Indiana does not gain anything by having airplanes cross our…

Hancock explores ‘mean, lean operating room machine’: Hospital officials believe time is right for surgery center

Hancock Regional Hospital has dusted off plans to build an outpatient surgery center with some of its doctors, and it may turn for help to a business run by the competition. The Greenfield hospital has talked with Visionary Enterprises Inc., a for-profit subsidiary of Community Health Network; and another Indianapolis company, Russell Associates LLC, about forming a partnership to build the center. Hancock Regional executive Rob Matt called the discussions preliminary but said officials hope to pick a partner by…

Pumping out healthy profits: Stand-alone heart hospitals now bustling, earning millions after overcoming slow starts

Business heated up so fast for The Heart Center of Indiana last winter that it averaged 103-percent occupancy for an entire month. That meant the Carmel hospital often had to hold patients in an emergency room or short-stay location until space opened for them, Heart Center CEO John Stewart said. “We literally, multiple times, had to refuse [patient] transfers,” said Stewart, whose hospital is spending $4 million to add 20 beds that should be ready for patients next month. After…

Coastal is in the name, central Indiana is its game: California-based firm cultivating its local operations

Despite its name, Coastal Partners LLC is firmly entrenched in the heartland. Most of its current projects are in central Indiana, as are about half its employees. In August, the Sacramento-based firm hired Tom Ott to oversee its central Indiana operations and new development. Ott, a respected 10-year veteran of the local office of Los Angeles-based CB Richard Ellis, plans to continue his relationships in the local brokerage community to further Coastal Partners’ presence in the area. Although the name…