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Health builders thinking small: Local hospital development in for change

Just north of Indianapolis, Clarian Health Partners plans to open a 170-bed hospital this December, a suburban complement to the 76-bed hospital it opened last December in Avon. To the south, St. Francis Hospital and Health Centers unveiled a heart center in March, counterbalancing the two stand-alone heart hospitals that sprang up on the north side a few years ago. These projects offer a snapshot of how health care development has progressed over the past few years in central Indiana….

Kite’s plan sparking controversy: Condos near Fashion Mall likely to face ‘battle royal’

A partnership headed by Paul Kite has ambitious plans for a mixed-use development featuring midrise condominium towers and retail space on the last undeveloped corner of 86th Street and Keystone Avenue. A proposal from PK Capital LLC, Kite’s partnership, calls for more than 180 condos and about 60,000 square feet of retail space on the north side of 86th Street between Haverstick Road and Keystone Avenue. The 10-acre property lies just south of Our Lady of Peace Cemetery and a…

Union puts Harborside Healthcare on defensive: Publicity campaign highlights problems at local homes

Feces in the shower. Pressure sores. Dead worms in the corner of one building. “Be careful who you trust with nursing home care,” shout four billboards placed recently around Indianapolis by a union that wants to warn people about problems like chronic understaffing at Harborside Healthcare nursing homes. Nonsense, counter Boston-based Harborside managers. They claim the union is using isolated events to “extort” more pay and benefits from Harborside and expand union membership. Either way, Indianapolis appears to be the…

Massive retail project on tee: Britton Golf Course buyers plan 85-acre development that could rival Clay Terrace

The development group that invested $16 million to buy Britton Golf Course in Fishers is pressing forward with its plan to convert the property into a retail center that would rival Clay Terrace in Carmel. The purchase earlier this month, following Fishers Town Council approval, represents the first significant real estate project for the group of local investors formed under the Britton Park Development LLC name. Bordering State Road 37 and East 131st Street, the 104-acre golf course is the…

VIEWPOINT: Youth financial literacy: Teach them to fish

Businesses, especially those that rely on younger workers who are just entering the work force, have a stake in making sure their employees have a g o o d wo r k i n g knowledge of personal finance. When the struggle to understand and manage personal finances hin ders employee productivity, businesses pay a price. The solution starts with education. As the Chinese proverb goes: “Give a man a fish and you feed him for a day. Teach him…

ECONOMIC ANALYSIS: Going behind the numbers to understand price indexes

The joke about economists is that we talk about money but we don’t have any. And when it comes to having power and wealth, the status of those who compile the economic statistics we all consume is usually several notches below even that of the lowly economist. Most are employed by government agencies, after all. And the last time I checked, I didn’t see anyone from the Forbes 100 list on a public payroll. But the numbers these anonymous statisticians…

Michigan Road project features upscale shops: Smaller version of Café Patachou planned for property

Developers of a small parcel of property on the northwest side are creating a courtyard of quaint shops that will feature an offshoot of the Café Patachou boutique restaurant. Daniel Altman and his wife, Colleen, bought the piece of land at the corner of 51st Street and Michigan Road last year and opened the upscale Catalpa Antiques & Objects in the historic home that sits on the property. Once completed, the Catalpa Place development will include five shops within a…

Mortgage dip forces Irwin to make cuts: Lender closes 120 branches, trims workers as profits drop, housing market cools off

The once-red-hot U.S. mortgage market has significantly cooled. So have the fortunes of Fishers-based Irwin Mortgage Corp. Last year, Irwin Mortgage’s profit dropped $57.8 million, or 74 percent. Then, on April 4, the company revealed it expects to take a “small” loss in this year’s first quarter. As a result, Irwin Mortgage has reduced its number of branch offices around the country from 169 to 49. The company is also cutting its local headquarters staff by 100, to 488 employees….

STATEHOUSE DISPATCH: General Assembly’s shooting the three! Boom Baby!

Typically, when lawmakers are this near to reaching agreement on a state budget, it’s some time in early or mid-May, and we’re trying to pepper this column with analogies to the Indianapolis 500. However, we started the year with a race analogy-the one about Mario Andretti suggesting that if you felt like you were under control you weren’t going fast enough-and since the Indiana Pacers seemed destined for a brief playoff run this year, we probably ought to stick to…

SPORTS: Pacers’ comeback year extends post-season roll

Or to pile on a landfill. A season on the stink. In the hours and days following that fateful evening of Nov. 19 at the Palace of Auburn Hills, Mich., where a momentary lapse turned into a monumental set of calamitous circumstances, it seemed there would be little for the Indiana Pacers to salvage. A championship was simply out of the question, and with the removal of that “One Goal”-the team’s marketing slogan-it seemed the season would be nothing more…

Farming fortune from frustration: Mower mogul got tired of servicing ‘crap’

In 1979, Art Evans busted his knuckles repairing one too many lawn mowers. As a distributor for a nationally known manufacturer, Evans also rebuilt mowers. And refined transmissions and steering units. And spent countless hours on tedious tasks, like adding washers and tightening bolts. Working a few weeks ago in an old milk barn adjacent to his parents’ Putnam County home, Evans was a long way from the 1973 Indiana State Fair, where he first saw a zero-turning-radius lawn mower….

State awaits Crane’s fate: Indiana tech promoters hope feds will expand naval base

In just a few weeks, Hoosiers will learn whether the Navy plans to multiply southwest Indiana’s economic development prospects, or mothball its Crane base, the region’s primary high-tech asset. The latter scenario would not only devastate the region; it would seriously set back statewide efforts to modernize Indiana’s economy. “If Indiana were in a position where we were a recognized technology leader, the loss of that one asset might not loom as large,” said Central Indiana Corporate Partnership Vice President…

EYE ON THE PIE: What politicians don’t know can hurt us

Last week in Jefferson City, I heard Missouri’s governor outline his economic and budgetary concerns. It sounded very much like a speech I could have heard in Indiana. His speech went something like this: Medicare is about to eat up the state budget. We have to find ways to use school funds more effectively because our education system is not sufficient for the needs of our citizens. We have to protect taxpayers from the burdens of new taxes. We need…

Two Indiana startups chosen to compete nationally:

Two of the eight finalists that will participate in a national competition of bioscience startup companies at Purdue University are from Indiana. Omni Spray and QuadraSpec will compete in the third annual Purdue University Life Sciences Business Plan Competition against companies affiliated with several renowned universities, including Columbia University, Harvard University, Massachusetts Institute of Technology and Johns Hopkins University. The companies will present business plans for bringing their products to market and be judged by a panel of venture capitalists,…

City ups charter aid: Loan program to help schools land financing for facilities

Indianapolis leaders are lending a helping hand-and the city’s strong credit rating-to charter school operators intent on building a different kind of educational environment, often from scratch. Charters receive tuition support payments from the state, but unlike other public schools, they do not get any tax revenue for their buildings. “The facility issue is a big issue,” said Mayor Bart Peterson, the only municipal leader in the country with the power to grant charters. “If we are committed to seeing…

STATEHOUSE DISPATCH: Statehouse battles brew as session winds down

An awful lot of things need to fall into place between now and April 29 for lawmakers to exit Indianapolis with their heads held high over their ability to get things done this session. Some may quibble (and others flat-out argue) about whether the legislative agenda this session has been active-positive or active-negative. However, there is no question that, to this point at least, lawmakers-mirroring the new governor-have been proactive. It’s a stark contrast to the passive stance of the…

With cash tight, ATA trading new planes for old: Smaller version of 737 can be loaded and unloaded more quickly, allowing for more flights per day

Plans by ATA Holdings Corp. to slash its number of aircraft by nearly half include replacing its sleek, new jets with smaller, older Boeing 737s that can fly more trips daily, generating more cash than the larger planes that now dominate its fleet. The Indianapolis-based parent of ATA Airlines wants to lease a dozen 737-300s and 737-500s-relatively stubby planes that date as far back as 1984. Meanwhile, ATA is returning 18 of the 33 Boeing 737-800s it had at the…

ECONOMIC ANALYSIS: Pondering the world from an economist’s viewpoint

In case you’ve ever wondered what it is like to look at life through the eyes of an economist, here are some questions to ponder: Has anyone else noticed that public schools these days are in the transportation business, the sports entertainment business, the restaurant business, the health care business, not to mention the day care business? It’s no wonder their jobs are so difficult. To those who decry the risk of diverting Social Security revenue towards personal accounts in…

SPORTS: Age-defying Reggie bids a historic farewell

So much for the meat. Now all we have left is an uncertain supply of NBA playoff gravy. Lap it up while you can. Will we ever see another like No. 31? Will we ever see another who is such an inspiring combination of talent, loyalty, longevity and professionalism? Will we ever have another to represent us so nobly on the stage of professional sports, and to single-handedly carve so many memorable moments into our collective consciousness? We can only…

Criminal inquiry targets ex-exec: Brightpoint’s risk manager part of AIG grand jury probe

Brightpoint Inc.’s former director of risk management is a target of a federal grand jury criminal investigation into a 1999 deal regulators say allowed the Plainfield company to conceal more than $11 million in losses. The U.S. Attorney’s Office in Indianapolis filed papers in a Manhattan federal court April 12 identifying Timothy Harcharik, Brightpoint’s director of risk management from 1997 until his dismissal in 2002, as one of the targets of the nearly complete securities-fraud probe. On the other side…