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ECONOMIC ANALYSIS: Failure to work with borrowers compounded woes

Underlying the financial turmoil is a significantly dreary problem in housing markets. It is a bit easier to understand, but understanding will almost certainly lead to anger and frustration. The 1995 revisions to the Community Reinvestment Act specifically permitted subprime loans. The intent was laudable enough, to provide lower-income Americans a chance to buy homes and force financing to local businesses. The former worked quite well, but in a 2004 academic paper I reported minimal effect of lending on rural…

SURF THIS: With Hulu, there’s no need to jump through hoops

Reader beware: You may not have the willpower to resist the draw of Hulu. I realize that sounds a little strange, as if the service itself is drawing some sort of mind-melding power from Spock or exhibiting the addictive draw of caffeine. The truth is far more sinister. This is television on demand-on steroids-with movies thrown in just to destroy any remnant of your ability to fight it. I’m talking about Hulu (www.hulu.com), a joint venture of NBC Universal and…

BEHIND THE NEWS: Firms with debt in check starting to reap rewards

Managing the balance sheet. The very phrase is s l e e p – i n d u c i n g . But in times like these, doing it well is what separates the winners from the losers. In the winners’ column is Simon Property Group Inc., which finds itself on the offensive as competitors, including Chicago-based General Growth Properties Inc., lean back on their heels. In the losers’ column is Emmis Communications Corp., which is saddled with more…

Super Bowl group hires Sports Corp. official as CEO

The woman chosen as president and CEO of the city’s Super Bowl host committee isn’t exactly a household name, but those who hired her think she’ll make Indianapolis the best host city ever. Allison Melangton, 46, is the first paid member of the 2012 Indianapolis Super Bowl Host Committee, and is expected to throw planning and organization into overdrive over the next 30 days.

Firm off to a FAST start: Investors backing company’s kidney assessment technology

FAST Diagnostics quickly is becoming one of the more promising companies in Indiana University’s efforts to commercialize its discoveries. Incorporated in November 2006, it is developing a method to measure kidney function faster and more accurately than existing techniques can. While FAST represents speed, the name actually stands for functional assessment and surveillance technology. The fledgling firm so far has attracted more than $4 million from investors, including $2 million from the state’s 21st Century Fund. BioCrossroads, Rose Hulman Ventures…

INVESTING: Advocates did bad job selling rescue package

The word bailout is being used more than the folks at Merriam-Webster ever could have imagined. Yet, bailout is the wrong term to characterize the rescue plan the Federal Reserve and the Treasury presented to Congress. Our leaders have done a poor job explaining why. At present, the U.S. financial system is in cardiac arrest, and this plan is the defibrillator designed to jolt the system back to life. The crux of the problem is that banks and other financial…

EDITORIAL: Signs of hope as many retreat: Some shrug off economic fears

Signs of hope as many retreat Some shrug off economic fears The front page of this week’s IBJ tells of companies that are in dire straits-or out of business-after banks, jittery about a financial collapse, called their loans or canceled their credit line. Stories like these put a local face on the economic crisis that has gripped the American psyche in the last two weeks unlike anything since the terrorist attacks of 9/11. Anyone who didn’t realize credit’s vital role…

A&E: Altered ‘State’ in Muncie and cyberspace

An Alexander Calder mobile hangs above. Bronzes by Henry Moore and William de Kooning stand handsomely on the ground. The walls feature works on paper by Picasso, Pollock, Rembrandt, Miro and more. Ball State University Museum of Art’s collection is well worth lingering over. But I’m doing a lightening round because the museum is closing at 4:30 and I’ve spend the better part of the afternoon immersed in another Ball State Museum of Art. The one online. In Second Life….

VIEWPOINT: Contributions to the deflation of your vote

Lots of people believe that campaign contributions and the influence that surrounds them are actually bribery. While it’s true that some contributions are made with no strings of any kind attached, still many voters find it difficult to believe that cam paign contributions don’t influence government in favor of the contributor. Others believe it’s part of free speech. I recognize that campaigns need money. How we contribute, however, can amount to bribery and undue influence. Democracy should be about ideas,…

Apples, pumpkins, kids keep orchard tour guide hopping

Ruth Butterfield works as a tour guide at Beasley’s Orchard & Gardens three or four days a week every fall, leading
an average of two tours a day. Most are school groups, but some adults come with their church groups or
on nursing home outings, too.

Turmoil thrashes regional banks: As economy weakens, big local players fight to keep capital, customers’ confidence

A rush of government-aided acquisitions has bestowed a too-big-to-fail halo over the likes of JP Morgan Chase, Bank of America and Citigroup. But what about the formidable regional banks that operate more than half the bank branches in the Indianapolis area? How stable are banks like National City, Huntington, Fifth Third, Key, M&I and Regions? Their shares have endured a rough ride on Wall Street, but there’s little evidence the ups and downs reflect the true health of the institutions….

Commentary: Downtown reflected in shoeshine

Snake was proprietor of the shoeshine stand at Cento Shoes on South Meridian Street and, like he said, he could “make your shoes shine like new money every time.” For over 27 years, he applied his spit and polish with lively commentary on any subject you chose. He was a downtown historian and authority on the local scene. Snake suffered from a variety of ailments, but it was arthritis that finally sent him into retirement. While watching him fold that…

VOICES FROM THE INDUSTRY: Avoid a royalty mess by reviewing your patent license

The U.S. Supreme Court’s recent decision in Quanta Computer v. LG Electronics left LG stuck in “a royalty mess” that should inspire local businesses to review their patent licenses. More specifically, the decision raises important questions about the extent to which-and the cir cumstances under which-patent owners can collect royalties from more than one party in the distribution chain. Although the case arose out of the IT industry, its lessons could significantly impact Indiana life sciences companies. Collecting downstream In…

IU makes plans to hatch more businesses: Incubator in Bloomington hopes to duplicate success of local Emerging Technologies Center

Ground should be broken late this month or in early November, with completion expected by summer. Cost of the 40,000-square-foot facility-4,000 square feet smaller than the one here-is estimated in the $8 million to $10 million range. While it may be a bit smaller in size, the scope is broader. The new incubator will promote both life sciences companies and information technology firms. That goal differs from the mission of the existing IU Emerging Technologies Center on 10th Street, which…

SPORTS: Pacers look to their roots to reconnect with fans

On Oct. 8, the Indiana Pacers are going to treat us older folks to a nostalgic trip. They’re going to take on the New Orleans Hornets in a preseason game at the Pepsi Coliseum. Before things like corporate naming rights came along, it was simply known as the Coliseum. It was that “other” basketball venue in town, playing second fiddle to Butler (now Hinkle) Fieldhouse. But when the Pacers entered the American Basketball Association and began dribbling those red, white…

Greenwood company hits it out of the park: Big League Tours tripled its revenue this year

While most Major League Baseball fans are focused on this year’s playoffs, local entrepreneur Glenn Dunlap is already thinking about next year. Dunlap formed Greenwood-based Big League Tours in 2006, offering group trips to big-league baseball games and other related attractions. One such trip took swings through games at Fenway Park in Boston, Yankee Stadium in New York, and the baseball Hall of Fame in Cooperstown, N.Y. Other trips hit fabled ballparks in Chicago, St. Louis, Milwaukee and San Francisco….

Local money managers’ advice: Don’t lose your nerve: Top wealth advisers eye opportunities for investment gains, tax savings in wake of recent Wall Street unrest

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,…

Arcadia banking on DailyMed: Company hopes product sales can help it escape debt, lift stock

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…