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INVESTING: New Wall St. ‘product’ far from a sure thing

Financial securities often are called intangibles, since they lack physical attributes and thus are not easily described. That is why investment firms like to package investments into what they call “products.” Products lend themselves to more concise descriptions of what the investor is buying, and therefore a product is easier to sell. Mutual funds are probably the best example of an investment product. Now, products have entered the realm of hedge funds in the form of 130/30 funds. The numbers…

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BEHIND THE NEWS: How a smart businessman invested his way into prison

In 1994, Indianapolis real estate entrepreneur Mark Ristow read some investment advice that changed his life. In the book “Beating the Street,” Peter Lynch, the former star mutual fund manager, described a “can’t lose proposition (almost)” called bank-conversion investing. The game: Buying stock in mutual, depositor-owned banks when they convert into public companies. Depositors get in at the initial-public-offering price, often a discount. So “the next time you pass a mutual savings bank or an S&L that’s still cooperatively owned,”…

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Uphill battle ahead: State poses tough test for new enviro leader

By the time Jesse Kharbanda earned a Rhodes scholarship to study at Oxford, the University of Chicago student already knew he wanted to advocate environmental policies in the developing world, someday. Eight years later, some might say Kharbanda has landed in the developing world, all right-Indiana, insofar as it’s considered the backwater of environmental stewardship. One might recall the state’s 49thplace ranking in a 2007 review of “greenest” states by Forbes magazine. Only West Virginia-a national leader in illiteracy-scored worse….

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VOICES FROM THE INDUSTRY: Green building should be the norm, not the anomaly

I cringed when I heard the news: Indiana is second to last when it comes to being green. We’re supposed to be America’s heartland. But instead of being known for the life sciences, economic initiatives or even our corn fields, we’re getting recognized for our dirty air and water. Last year, Forbes conducted a study to find the greenest states in the country. Vermont, Oregon and Washington topped the list. At the bottom: Alabama, Indiana and West Virginia. While Indiana…

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Commentary: Indiana needs social entrepreneurship

In the Middle Ages, the French coined a new word that today we would identify as “undertake.” Around 1828, this old French word, “entreprendre” was absorbed into the English language and after some use and m o d i fi c a t i o n s became a word we recognize and vener ate in our society today … entrepreneur. As a nation founded and populated by men and women who risked life and fortune to reach our shores,…

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Law firms making green push: Environmental teams provide marketing boost

The next generation of environmental law is coming to a firm near you. Many law firms have existing practices that counsel clients on the complexities of complying with air and water permits or cleaning up contaminated properties. But now that the corporate sector is embracing “green” initiatives quicker than Al Gore accumulates carbon credits, environmental law is becoming as sexy as, say, intellectual property. Two of the city’s largest firms-Ice Miller LLP and Baker & Daniels LLP-recently unveiled so-called “green”…

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VOICES FROM THE INDUSTRY: The right time for climate change may finally be here

While the world’s political climate is heating up, its economic climate is cooling down. Meanwhile, the real climate is finally getting the attention it really deserves, as the “tipping point” has been reached. Green is everywhere these days. New York Times For homes that no longer grow in value. If the personal consumption rates in China rose to the levels of the United States, annual oil consumption in the world would go up more than 100 percent! Oil consumption in…

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Green group touts its mission in HQ project:

The Fountain Square property that Keep Indianapolis Beautiful Inc. has purchased to house its headquarters is undergoing a massive renovation that will transform it from abandoned derelict to an environmental showpiece. In the process, the not-for-profit environmental group is hoping to set a green example for other developments and draw attention to its mission. KIB bought the building at the corner of Fletcher and Shelby streets for $410,000 in October from the Southeast Development Neighborhood Corp. A $1.3 million redevelopment…

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A new desire for streetcars

Electric streetcars are an old idea that should be brought back, some civic leaders believe.

IBJ reporter Chris Oâ??Malley writes today that heavyweights including Indiana Convention and Visitors Association
President Bob Bedell are backing a not-for-profit called Downtown Indianapolis…

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Local Girl Scouts take lead in national consolidation: Larger councils to mean more opportunities for girls

Last year’s merger of five area Girl Scout councils into one central Indiana organization has gone so well that it’s being used as a model for others to follow. Local staffers are being flown around the country-at national Girl Scouts’ expense-to coach other councils on how to achieve the same results. The local merger was the first in a national drive to consolidate far-flung and often uneven Girl Scout councils, reducing their numbers by almost a third. With the local…

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Developer with environmental bent has $20M pipeline of projects

Expensive suits and luxury cars are standard issue for most developers, but not for the owners of locally based Casa Verde
LLC. Three of four owners sport beards. They build only Leadership in Energy and Environmental Design, or LEED, certified
projects. But don’t let the hippie image mask the company’s mission: Make green by building green.

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City emerging as drug distribution hub: Medco Health Solutions deal latest boon to growing subsector in Indiana’s life sciences development efforts

Thanks to a series of major economic development wins, Indianapolis is enjoying a pharmaceutical distribution business hot streak. Life sciences industry leaders hope to keep the sizzle burning in 2008 and beyond. “It’s not something we’re hoping we can do someday. It’s something we’re already doing now,” said BioCrossroads CEO David Johnson. “We’re simply trying to expand the footprint of what we’re doing.” Pharmaceutical logistics has become a big business. According to the Arlington, Va.-based Healthcare Distribution Management Association, U.S….

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The Corydon Group LLC: Reputations help lobbyists build business Shared passion for government led golf buddies to partnership

When Chris Gibson and Mike Leppert headed for the golf course in the late 1990s, it was strictly business. Walking from tee to tee, the men talked about lobbying, the law and regulatory agencies. After 18 months of playing 18 holes, they decided to form The Corydon Group, a government relations firm founded in 2000 in Indianapolis. The firm monitors bills and amendments proposed in the Indiana General Assembly, prepares reports on key legislation, attends meetings and hearings, and lobbies…

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Bills would require utilities to reduce reliance on coal

Two bills in the Indiana Legislature would require utilities that operate here to supply up to 25 percent of their electricity from renewable resources such as wind, landfill gas, and plant and animal waste. Backers say utilities need more incentive to diversify from coal-based power generation.

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Eatery plans baby cuisine: L’explorateur chef developing line of frozen, gourmet infant food

Local restaurateur Neal Brown is entering new culinary territory this month, launching a baby food business from his upscale Broad Ripple eatery. The 37-year-old first forged new ground in the Indianapolis food scene in May 2006, when he opened L’explorateur, a hip restaurant that builds its avantgarde menu around locally grown food. His kid cuisine won’t be quite as cutting-edge as the grown-up grub-think elk tartar: raw ground elk meat seasoned and topped with herbs, capers, greens and braised, pickled…

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NOTIONS: Will the change bandwagon ever roll our way?

On the presidential campaign trail these past few weeks, the dominant exit-polling insight seems to be that Americans are hungry for change. Voters have told interviewers they’re weary of the direction we’re headed, tired of the politics of the past and eager to forego the status quo. And so the presidential candidates, Republican and Democrat alike, have jumped on the change bandwagon, ridden it from Iowa to New Hampshire, and tried to explain why they’ve been, are, or could be…

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EYE ON THE PIE: Indiana being stamped with wrong image

Blessed be our friends at the U.S. Postal Service. They do a great job of collecting and distributing the mail. They face strong competition from private carriers and from the Internet, but they continue to serve the public well. Then, too, USPS always looks for new ways to honor America and Americans through the issuance of new stamps. If a particular series catches on, they can make a pretty penny by selling stamps that are never used. That’s why USPS…

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Few stocks avoid effect of housing, banking woes: Wall Street pessimism spreading across industries

Nineteen central Indiana companies have seen their stock prices fall more than one-quarter from the 52-week highs-a plunge that largely reflects pessimism over the strength of the economy. The pullback has hammered some of the top-performing Hoosier companies in recent years, including shopping mall owner Simon Property Group Inc. (off $46 a share, or 38 percent) and school operator ITT Educational Services Inc. (off $52, or 39 percent). Former highfliers often take the biggest tumble when investor sentiment turns bearish….

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Nature Conservancy buys blighted industrial site

The Nature Conservancy has agreed to buy a blighted industrial property on the eastern edge of downtown to develop a new Indiana
headquarters. The $4.5 million project–which will revitalize or replace the former home of Nemec Heating & Supply Co. at
614 E. Ohio St.–should provide another boost to an area that has been bulking up on development, mainly residential.

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NY Times job helps ACS Sign gain attention

ACS Sign System’s unusual approach to sign-making–some are not strictly signs at all–has helped the company grow its revenue
and expand its footprint beyond Indiana. In recent years, sales outside its home state have grown from 20 percent of total
revenue to almost half.

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