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INVESTING: High pay for failed CEOs adds insult to injury

Labor Department figures show that average annual family incomes in the United States, adjusted for inflation, have grown just 0.8 percent since the end of 2001. On the other hand, executive pay and severance pay for fired CEOs has skyrocketed. At the very least, the average family shareholder deserves a thank you. Surely if you are a shareholder of AIG, you expect a kind word from ex-CEO Martin Sullivan who left in June with a $47 million severance package-despite AIG’s…

A&E: Booker blitzes downtown

It is likely that “Chakaia Booker: Mass Transit,” the 10-piece exhibition running through April 1, will invite a greater negative reaction than the two previous public art shows that dotted downtown. Unlike Tom Otterness-with his rounded smileys masking money-is-evil messages-and Julian Opie-many of whose “Signs” could have served as, well, signs-Booker creates work that is abstract, defiant and unpolished. The pieces-constructed from tires-aren’t pretty, they aren’t funny, they aren’t slick and they don’t seem aimed to please. As such, they…

EYE ON THE PIE: Don’t blame financial woes on others

A brief rain shower moves across the Front Range onto Colorado Springs. The clouds change their patterns rapidly above Pikes Peak and I sip my coffee at a Starbucks that is unlikely to close. Here, not far from the U.S. Air Force Academy, a brief drive from the U.S Olympic Training Center, the volume of cash passing hourly is heavy enough to ensure that the cappuccino soy latte and the mint mocha frappuccino will continue to be drawn for months,…

NOTIONS: Bless the blogosphere, all praise social networking

A few months ago, after considerable cajoling, my friend Erik convinced me to join yet another online social network. This one’s called Smaller Indiana. It bills itself as “making people and ideas findable.” So now, in addition to being “LinkedIn” with a few hundred of my friends and colleagues past and present, and in addition to being what BusinessWeek calls a “fogey on Facebook,” I’m also a Smoosier-the moniker for Smaller Indiana members. No sooner had I become a Smoosier…

Pitch-Perfect Price: Digonex Technologies’ software helps retailers profit from demand

Is every song downloaded from iTunes really worth 99 cents? Indianapolis-based Digonex Technologies doesn’t think so, and it has developed a computer program using some complicated algorithms to prove it. The company’s software compiles sales data and re-prices items for online sales, allowing merchants to maximize profits by adjusting prices up or down based on demand. Consumers don’t notice a difference. “What we’re doing is a big idea,” said Digonex CEO Jan Eglen, 65. “Most of the [pricing systems] you…

Bear market near an end, local stock broker says:

Several indicators suggest the bear market in stocks is over and greener pastures lie ahead, an Indianapolis broker says. Kevin Schmidt, executive vice president of the private client group at City Securities Corp., said most of the bad news has emerged from the housing, airline and finance debacles, which suggests investor sentiment will begin to turn positive. “Psychologically, we are in a funk,” Schmidt said. “It’s not as bad as everybody thinks. The overreaction to the negative has happened.” Schmidt…

Government officials dangle incentives, attracting firms across county lines

Marion County economic development officials are proud of their latest headquarters attraction. Bowen Engineering Corp.
will inject 103 high-paying jobs into the Indianapolis economy immediately. And over time, the company expects
to add another 138. Their average salaries will top $70,000. The deal didn’t require Mayor Greg Ballard
to travel to Japan, or even to another state. Bowen Engineering is moving all of 8.4 miles, from its former
home in Fishers to the 8800 block of North Meridian Street.

EDITORIAL: Bulldozing history shouldn’t be easy: Ivy Tech should keep its promise

Bulldozing history shouldn’t be easy Ivy Tech should keep its promise Ivy Tech Community College says it is continuing to seek feedback from the public about how best to redevelop the old St. Vincent Hospital property just north of downtown, but it already has an architect’s drawing of what could replace the neoclassical structure built in 1912. Does that mean Ivy Tech’s leaders have their minds made up about the property’s future? We hope not. The city turned over the…

BEHIND THE NEWS: Former Carmel exec goes from fast lane to jail cell

Just a few years ago, Carmel businessman Edward Okun was living the high life. By last year, his personal holdings had grown to include four mansions, a helicopter, three airplanes, 20 automobiles, and a 130-foot yacht. Today, Okun is in a Virginia jail, is represented by a public defender, and faces the prospect of spending the rest of his life behind bars. And, angry investors say, rightfully so. They charge-and government investigators agree-that Okun financed his lavish lifestyle by misappropriating…

WellPoint expected to look for growth overseas

WellPoint Inc., the most dominant health insurer in the United States, registers as barely a pipsqueak in the rest of the
world. But it’s only a matter of time, say industry experts, before WellPoint plunges into foreign markets to grow sales of
its health benefits and services.

Bank-run scenes create concerns: IndyMac situation unlikely in Indiana, but customers should check out stability of their banks, experts warn

It was a scary scene, reminiscent of the Great Depression: Customers lined up outside California’s IndyMac Bank branches to withdraw deposits after a bank run led to the bank’s failure. The images have driven some central Indiana customers-businesses and individuals-to take a more critical look at the strength of their banks and the safety of their deposits. Even as financial stocks rallied in mid-July, the risk remains for more bank failures. Dismal earnings reports and massive write-downs continued in recent…

I-465 widening may require buyout of several buildings

Several landmark commercial properties fronting Interstate 465 on the northeast side could be in the path of bulldozers
when the state begins adding lanes as early as 2012. Memos prepared by a consulting firm to the Indiana
Department of Transportation go as far as estimating acquisition prices for buildings, including that of
country station WFMS-FM 95.5 and other Cumulus Media stations at 6810 N. Shadeland Ave.

VIEWPOINT: Let’s bring government into this century

In the early 1970s, employees at Xerox Corp. developed a breakthrough version of the desktop personal computer called the Xerox Alto. The innovation was quickly shelved by the company-everyone knew there was no market for a personal computer! It was later licensed to Steve Jobs along with a few other “orphan technologies” for $1 million in stock in his young company, Apple. The rest, as they say, is history. Xerox is still a solid company, valued at $17 billion. Of…

Regulators fight to assess health risks in local plant: Sensient Flavors files lawsuit to prevent inspection

Federal regulators specializing in chronic-disease prevention are attempting to investigate a west-side food additives manufacturing plant. But Sensient Flavors is fighting in federal court in Indianapolis to prevent their inspection. On July 14, Sensient sued the National Institute for Occupational Safety and Health, part of the Atlanta-based Centers for Disease Control and Prevention. Sensient Flavors is an Indianapolisbased subsidiary of Sensient Technologies Corp., a publicly traded Milwaukee firm that makes artificial colors, flavors and fragrances used in a variety of…

VOICES FROM THE INDUSTRY: Stock investing means navigating emotional mind fields

This has been a dizzy stock market, maybe even ill, but it isn’t terminal. Learning how to manage one’s own emotions while investing is an important part of success. And, the most crucial factor is practicing realism over optimism, instead of the reverse. Hope is helpful in most areas of life because it gives us optimism and a reason to live, but in the investment arena, it can quickly drive our portfolio into negative territory. Our desire for excessive investment…

Independent coffee shops feeling perkier than Starbucks

At a time when Starbucks is closing hundreds of stores nationwide, he and other local independent coffeehouse owners say they’re doing just fine, largely because they’re infusing their stores with personality and offering consumers an experience chain stores can’t replicate.

Big crowds greet IRL in Edmonton

The Indy Racing League’s foray into Edmonton is looking good.

Sources on the ground there for this weekend’s race report that IRL race signage and promotional material posted by city officials is evident along streets,…

BW3, Madame Walker & Adobo

Wow, what a busy day. First off: No luck so far snagging a rendering of the new Buffalo Wild Wings under construction along Washington Street…

UPDATE: Irwin shares soar after loan sale

Columbus-based Irwin Financial Corp. shares rose 25 percent this morning, in the first trading session since the company announced late yesterday that it was scaling back its exposure to the battered mortgage business. The parent of Irwin Union Bank said it had struck a deal to sell $1 billion of home equity loans to a […]

Walker Theatre board names developer

The Madame Walker Theatre Board said it has chosen a preferred developer for a mixed-use development and renovation of the historic venue on Indiana Avenue. Full Spectrum of NY LLC would lead the mixed-use development, which may include retail and restaurants, office space and a boutique hotel. The first phase will involve renovating and expanding […]