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EYE ON THE PIE: What really drives Hoosier economy?

I enjoy the propaganda of government agencies pleading the causes of special interests. This is the opening sentence of our state profile prepared by the U.S. Small Business Administration’s Office of Advocacy: “Small businesses are the heart of Indiana’s economy.” Frequently, we hear that farming is the beating heart of our economy. Others claim the thumping sound we hear is that of manufacturing. Teachers tell us the economy is only as steady as its educational footing. Steel has a claim…

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Commentary: Can we Bank on Indianapolis?

Whoa. Those figures, based on national averages from the Federal Deposit Insurance Corp., don’t paint a pretty picture. People without bank accounts tend to keep cash at home or in their pockets, which increases the likelihood of crime. They create a market in which predatory lenders can thrive. They fail to reach their full potential, and so do the cities where they live. We have a problem. Now what can we do about it? We could take a cue from…

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BEHIND THE NEWS: Cautious streak helps Duke weather tumultuous times

Duke Realty Corp. has stayed largely out of the headlines this year, which in an economy like this is a pretty good sign. Another Indianapolis developer, Lauth Property Group, has shed more than half its 450-person work force, and Premier Properties Inc.- perhaps the city’s most daring developer-lurched into bankruptcy court. Meanwhile, Duke, which specializes in suburban office and industrial development, keeps on chugging. To be sure, the company isn’t immune to broader economic slowdown. In April, it laid off…

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Bailing out Detroit carmakers

Executives of General Motors, Ford and Chrysler are optimistic about their chances of getting inexpensive federal
loans to help tide them through the credit crunch and sales downturn.
The discussions, which have come to light in recent weeks, have the execs…

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NOTIONS: A pregnant GOP primer on civil liberties: Who decides?

Years ago, I wrote an article about Sheila Suess Kennedy, an Indianapolis author who’d written a book called “What’s a Nice Republican Girl Like Me Doing in the ACLU?” I didn’t know Sheila. I didn’t know much about the American Civil Liberties Union, either. So I stopped by her office (she directed the organization’s Indiana chapter back then) for an education. Sheila, now a faculty member at the Indiana University School of Public and Environmental Affairs at IUPUI, explained to…

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BEHIND THE NEWS: Limp economy could slow increase in attorneys’ fees

Attorney pay at top-tier firms is like compensation for executives of public companies. Amid hand-wringing, the numbers keep going up and up. The reasons are understandable. Law firm managers feel pressure to raise compensation to attract and retain the best attorneys-and to keep up with what other firms are doling out. The people running those competing firms feel the same pressures, accelerating the upward spiral. Hence, top attorneys in Indianapolis in the most complex practice areas now have hourly rates…

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Experts: Building boom not over: Big projects wind down, but new ones fill pipeline

The completion of $2 billion in city construction projects has left a gaping hole in contractor job schedules-as wide as when the roof opens at Lucas Oil Stadium. Even so, industry leaders remain optimistic about staying busy despite the combination of a tepid economy and the end of a local boom that stretched the limits of the labor pool. The $1.1 billion airport midfield terminal project, the $715 million stadium and $150 million Central Library expansion helped to create so…

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Re-entry key in city’s plot to fight crime: Mayor makes push, hires director to help more ex-convicts find work

Makeba Averitte spent more than seven years incarcerated in Indiana, Kentucky and Oklahoma prisons paying for the robbery he committed as a young man with few prospects. Since his release in 2004, the 32-year-old has obtained a driver’s license and insurance on his automobile, not to mention a bit more wisdom. But what eludes him most-even more so now as a convicted felon-is a steady, goodpaying job. Tired of temporary work, he enrolled in Second Chance at the United Northeast…

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VIEWPOINT: Advancing manufacturing is key to future

We’ve all heard it: Our economy is creeping to a crawl. Skyhigh oil prices, a weak housing market and the struggling U.S. dollar are discouraging consumers and business owners alike. Fears about our nation’s fiscal health are shaking broader confidence in the banking industry, the system of global trade, and even our public image abroad. In the face of such adversity, it’s helpful to remember that Americans have faced daunting challenges in the past. In tougher times, such as the…

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VOICES FROM THE INDUSTRY: China, higher education and our economic future

In mid-September, I’ll be traveling to China’s Liaoning province as part of a delegation led by Indiana State University, hosted by Liaoning University. We’ll arrive in the country too late for the Olympics, but we’ll be there to talk about another form of global competition-economic development. It’s appropriate that the two universities are co-hosting a conference on economic development issues, given the importance of human capital in our economy. It’s especially appropriate for China, where higher education has become a…

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Habitat builds through tough times

The down economy hasnâ??t exactly been a gift to not-for-profits, but at least one is actually doing better.
Habitat for Humanity of Greater Indianapolis plans to build 22 houses this year, a couple of units more
than last year.
With dollar donations…

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Wet spring, slow economy slice into area golf business

On a typical Saturday at Smock Golf Course on the city’s south side, visitors are treated to a symphony of thwacks, pings
and the occasional plunk. In good or bad economic times, it seems, people in Indiana and across the country have always played
golf. But these days, the sound of that symphony has waned. Nationwide, the number of rounds of golf played through the first
half of this year is down 2 percent from last year. In Central Indiana, the situation is worse.

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ECONOMIC ANALYSIS: Why the resurgence of railroads will help drive state

I have two friends who are train fanatics of the worst kind. These guys aren’t just dazzled by the sight of a large train; they furtively seek them out. One friend has made it his life’s ambition to ride every rail line in Great Britain. The other scours eBay for rail schedules from the 19th century. Both of these wonderful men have exceptionally tolerant wives. I am a bit concerned my 4-year-old is turning into one of these creatures. He…

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Murky motive adds intrigue to Old National loan saga

In the buttoned-down world of banking, it doesn't get much stranger than this: An Indianapolis loan officer with a strong reputation is suddenly dismissed after his employer charges he falsified lending documents. The bank says the fraud exposes it to potential losses approaching $20 million. And here's the kicker: The employer hasn't accused the banker of committing the wrongdoing for personal gain.

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EYE ON THE PIE: Will people pay more for better care?

It was dark and I was feeling anxious about getting this column out on time. Then there was a tap at the sliding door to the deck. It was an apparition, a ghost, a figure all in white out of a 19th-century novel. But the tap was real. I opened the door and recognized her. “Nellie,” I said, “what are you doing out here at this hour?” Yes, it was Nellie, the Nervous Nurse, who lives close by. “My frog…

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VOICES FROM THE INDUSTRY: An open letter to the commercial lending community

Dear lenders: Perhaps you have seen the recent headlines that declared suburban Indianapolis among the best places in the country to live and raise a family. Perhaps you’ve also taken note that there are a lot of things happening in our communities. Big projects abound in the Indi anapolis area, including Lucas Oil Stadium and the Midfield Terminal at Indianapolis International Airport. People are so excited about the new stadium they lined up for hours trying to get a tour…

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Strip centers feeling sting of housing market slump: Developers cutting back on new retail projects

Those ubiquitous retail strip centers are beginning to wither under a housing slump that has cast a dark cloud over much of the U.S economy. Heavily dependent on new-home construction, strip-center developments have been hurt by tough residential real estate conditions that have spread into the commercial arena and dampened retail activity. Nationally, the volume of strip-center investment transactions is down 77 percent from a year ago, according to a June commercial report from the Chicago-based National Association of Realtors….

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BEHIND THE NEWS: Murky motive adds intrigue to Old National loan saga

In the buttoneddown world of banking, it doesn’t get much stranger than this: An Indianapolis loan officer with a strong reputation is suddenly dismissed after his employer charges he falsified lending documents. The bank says the fraud exposes it to potential losses approaching $20 million. And here’s the kicker: The employer hasn’t accused the banker of committing the wrongdoing for personal gain. There are no allegations, for instance, of setting up fictitious borrowers to scoop up bank cash on his…

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EYE ON THE PIE: Will people pay more for better care?

It was dark and I was feeling anxious about getting this column out on time. Then there was a tap at the sliding door to the deck. It was an apparition, a ghost, a figure all in white out of a 19th-century novel. But the tap was real. I opened the door and recognized her. “Nellie,” I said, “what are you doing out here at this hour?” Yes, it was Nellie, the Nervous Nurse, who lives close by. “My frog…

Read More