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BULLS & BEARS: Seeing profits in markets means seeing beyond now

I have been ranting like a broken record for the last several columns about how stocks are cheap and should provide great returns for the next few years. Over the past six weeks, I’ve explained why the Dow Jones industrial average should crack 19,000 by the end of this decade, why the “five-year three-peat” should usher in a bull run, and how the “global synchronized boom” should propel earnings and stock prices. All those long-term “shoulds” may make you think…

Law would improve oversight of not-for-profits: Attorney general says he needs enforcement options

Indiana Attorney General Steve Carter thinks there’s room to improve oversight of the state’s 60,000-plus not-for-profit organizations, a task that happens to fall under his purview. So two months into his second term as Indiana’s top lawyer-and nearly two years after becoming embroiled in a highprofile charitable dispute-Carter is backing legislation that would strengthen existing laws and allow his office flexibility in dealing with problems when they arise. “We’re not proposing to give ourselves a magic wand,” said Brent Embry,…

Carpenter moving forward as independent brokerage: Execs confident of success without GMAC affiliation Name has value

Armed with a stack of market research chock full of industry sales figures, Tom Prall says he’s certain Carpenter Realtors will carry on just fine without any outside assistance. Prall has led the south-side residential real estate agency the past 30 years and recently guided its divestiture from national franchise GMAC, a division of Detroitbased General Motors Corp. With the contentious split behind him, the former Marine first lieutenant, who served in South Vietnam, is poised to navigate Carpenter through…

Artsy edge propels Y&L: Agency shows its creativity with 2nd Globe

But Indianapolis-based Young & Laramore needed more than the “I think I can” mantra of bedtime stories to make tracks for the big time. It needed a plan. The four-part strategy was simple in concept, if challenging in execution: Attract the talent necessary to do national-caliber work, put it to good use, get results and earn widespread recognition. “I’m a big believer in developing plans for growth and working hard at them,” said Paul Knapp, a lawyer by training and…

STATEHOUSE DISPATCH: Legislative action heats up, but end-game still elusive

Last week was busy for members of the Indiana General Assembly. A budget was moved to the House floor, the daylightsaving time initiative was fully debated for the first time in years, slots for the state’s two pari-mutuel horse-racing tracks received a committee vote, the Indianapolis Colts stadium issue was at the forefront of hallway debate, the Indianapolis Works program was the subject of some debate, and some controversial charter school issues received an airing. But while there was a…

Companies abuse certification to nab contracts: Critics wonder if they truly are ‘disadvantaged’

Indiana companies are playing the system to get millions of dollars in federal highway funds by posing as and receiving state certification as economically disadvantaged, minority or women-owned businesses. Under federal law, a prime contractor bidding on a federally funded project has to subcontract a certain percentage to businesses that are certified by the state as disadvantaged. The idea is to ensure that these companies have an equal opportunity to become successful. Files at the State Department of Administration show…

Mann seeks larger digs as growth strategy pays off: Busy developer eyes property for new headquarters

On Bash Street, off the beaten path from often-congested East 82nd Street, Mann Properties has quietly built a commercial real estate development business that is outgrowing its cozy quarters. The location in the developer’s secondoldest office park has served Mann well since the mid-1980s. But flanked on both sides by other companies, the space offers virtually no chance to expand, let alone any opportunity for increased visibility. So Managing Partner Brian Mann, 37, has brokered a deal to purchase 20…

Auctions bucking tradition: Sales method no longer last resort in real estate

In the not-so-distant past, a real estate auction meant one of only two things. “It used to be who died or who went bankrupt,” said Bob Getts, local director of auction services for Indianapolis-based commercial real estate brokerage Colliers Turley Martin Tucker. But over the last decade or so, real estate auctions have come out of the shadows, and are no longer viewed as a last resort for owners desperate to unload a property. These days, no property is considered…

Studies: Bans don’t burn biz: Restrictions in other cities didn’t reduce overall sales, but some taverns were hurt

“My business was down 15 percent at first,” recalled Gina Scott, co-owner of the Lexington pub. Lately, she added, “It’s still down a bit. I don’t know with the ban it will ever go up to where it was.” This ban-in the heart of tobacco country-may offer a glimpse of what’s to come for Indianapolis bars and restaurants if proponents of a smoking ban prevail in the City-County Council. The proposed Indianapolis ordinance is one of the most stringent in…

ECONOMIC ANALYSIS: Rethinking Wal-Mart from an economic view

It is said America loves an underdog. If that’s true, so is the reverse. No one, it seems, loves the Goliath, the big kid on the block, the frontrunner. And in the world of retail mass merchandizing, they don’t get any bigger than Wal-Mart. The Bentonville, Ark.-based company has been a force to be reckoned with in almost every corner of the country, including all parts of Indiana, for almost two decades. Its sprawling superstores employ more than 1-1/2 million…

SPORTS: Trainer is MVP so far, but Pacers can recover

If ever there were a team in need of a break-lucky, all-star, rest or otherwise-that team would be the Indiana Pacers. At risk of stating the obvious, in all the years I’ve followed that franchise or other sports organizations in general, I cannot recall a more star-crossed season. It began with preseason injuries, spiked the moment that beer cup landed on Ron Artest’s noggin, and since has been a steady drip-drip-drip of injuries and illnesses sprinkled on top of the…

VOICES FROM THE INDUSTRY: Learning the basic categories of investment real estate Property type New development or existing Risk of landlord responsibilities

Baby boomers, the wealthiest generation in the history of our country, are getting richer. Much has been written about the extraordinary transfer of wealth that will take place as the boomers take over the estates of their parents. As their assets grow, many are get ting more directly involved in the management of their money. Rather than sending all their cash to Wall Street or their bank, an increasing number of investors are allocating a portion of their portfolio to…

EYE ON THE PIE: Focus on expenses, not revenue, in state budget

In fewer than 700 words, I’m going to tell the story of how we finance government in Indiana. It’s my belated valentine to the Indiana General Assembly. The data are for 2001-2002, but things don’t change much from year to year. Indiana governments had revenue of $34.2 billion in fiscal 2002. But forget about separating state and local government finances. It’s a fraudulent idea to talk about local taxes vs. state taxes. The two are totally intertwined. Localities can do…

Ashley makes home in former Galyan’s stores: Furniture stores to open in Greenwood, Carmel

Two former Galyan’s Trading Co. Inc. stores are set to find a new life in furniture. Ashley Furniture HomeStores will enter the market by occupying former Galyan’s stores in Greenwood and in Village Park Plaza in Carmel. The Greenwood store will have about 80,000 square feet and the Carmel store will be slightly smaller at 66,000 square feet, according to plans filed with the state. The HomeStores sell furnishings made by Arcadia, Wis.-based Ashley Furniture Industries Inc., but are independently…

OneAmerica grows bullish on its future: New leadership hopes to sustain steady growth

OneAmerica Financial Partners Inc. kept busy with a brand change, a record year for retirement services and the arrival of several new leaders in 2004. New President and CEO Dayton Molendorp plans to keep the positive momentum flowing with 34 key projects outlined in the 2005 business plan. But analysts say the Indianapolis company will have to grow in the face of strong competition and a pressing need to keep up with technology. The company formerly known as AUL unveiled…

Project to link painter, Mandela: Nancy Noel collaborates on S. African’s Unity Series

In Africa, Nelson Mandela is called Madiba, a term of respect that connotes wisdom and a fatherly status. Through a twist of fate, local artist Nancy Noel is one of 39 artists from around the world who can say that, for a brief time, they called Mandela a collaborator. Noel is participating in Mandela’s Unity Series, the latest artistic effort from the South African revolutionary. To fans of Noel’s widely popular contemporary realism paintings of angels and Amish children, her…

Eminent domain facing legal challenges: Supreme Court, Indiana legislature consider changes to economic development tool some say is unfairly used

The tool of eminent domain, increasingly used for redevelopment projects in Indiana cities and towns, could change significantly depending on the outcome of a U.S. Supreme Court case and a bill before the Indiana General Assembly. In Indianapolis, city officials are closely watching the cases and legislation. In recent years, construction of WellPoint Inc.’s operations center, redevelopment of the Link-Savoy and Blacherne apartment buildings, and Fall Creek Place have all involved eminent domain. Officials have also indicated they may use…

RETURN ON TECHNOLOGY: Some suggestions on how to overcome spam

Some time back, I got onto the solicitation no-call list maintained by the state of Indiana. It’s the second-best decision I ever made, after proposing to my wife. My evenings are ring-free, blessedly non-commercial, aside from the ads that overly optimistic marketing people hope I’ll watch on TV. There should be a similar no-call list for spammers, but there isn’t. Spam, as you probably know, is unwanted e-mail. Spam requires a lot of time every day to find, sort and…

George’s role as team owner draws criticism: Some say purchase is conflict of interest

Nine years of hunting for sponsors, recruiting and trying to retain drivers, and managing costs that had nearly doubled in recent years had taken its toll. The founder of locally based Kelley Racing shuttered his Indy Racing League team at the close of last season. And with the close of Kelley Racing, a new era for the Indy Racing League opened. Founded in 1996 as an alternative to CART, the open-wheel racing series stepped into what IRL founder Tony George…