It’s May, so here’s something we should want to see even more than the field of (we hope) 33 taking the green flag on Race Day, something we should want to hear even more than Tom Carnegie’s baritone, something we should believe would have an even more positive long-term impact on open-wheel racing than a victory by Danica Patrick. Indeed, the best news to come out of this May would be the great news for next May. And that would…
When Marsh Supermarkets Inc. put itself on the block in November, the company’s stock dove. When it cut future executive compensation $28 million a month later, the stock continued falling. When it terminated 25 executives and closed two groceries and six convenience stores, shares slipped yet again. Nothing, it seemed, could stop the downward spiral. Then a footnote appeared in the Fishersbased company’s fiscal third-quarter financial report Feb. 21. It said an appraisal showed the company’s real estate was worth…
Emmis Communications Corp.’s stock has fallen 80 percent in six years. Revenue from its radio stations is falling short of Wall Street expectations. And its bid for Major League Baseball’s Washington Nationals is running third in a three-horse race. But Emmis CEO Jeff Smulyan is as optimistic as he’s been in months. “I’m upbeat because I think this industry is ready to turn the corner, and Emmis is turning the corner,” Smulyan told Wall Street analysts after his company released…
Former New York Met and current Mets announcer Keith Hernandez emerged from a cave April 22, observed that a member of the San Diego Padres’ training staff wa s – g a s p ! – a female, and opined on air that women have no place in a Major League dugout. Hernandez was promptly reprimanded by his employers and issued a tepid apology on the next Mets broadcast. This might come as a bulletin to the Neanderthalic Hernandez, but…
“If somebody wipes one of them out, the associated residence goes with it,” he says, only half jokingly. Now in his 14th season in t h e m o t o r – sports industry, Crawford, 38, decided to hoist his own flag for the first time this year in the Indy Pro Series, open-wheel racing’s highest minor league. For the record, he’s not a wealthy man. The second property is the only investment he and his wife, Myra, haven’t…
Ingersoll Rand Security Technologies has been named NASCAR’s first official provider of security products, a deal that could mean substantial growth for the company’s Carmel headquarters and an Indianapolis manufacturing plant, which together already employ 900. IRST is a division of Bermuda-based behemoth Ingersoll-Rand Co., which is better known for agricultural, construction and transportation equipment sold under names such as Bobcat and Thermo King. The link with the racing circuit is expected to drive home the point that Ingersoll-Rand is…
After growing its enrollment 75 percent the last decade, Ivy Tech Community College of Indiana is shifting its focus to student retention. A top administrator also wants to expand the number of training courses offered at businesses, as a way to supplement the system’s $253 million annual budget. Some who’ve studied the state’s educational system have recommended that Ivy Tech spend more to hire additional full-time faculty to strengthen its effectiveness. The school’s five-year student retention plan calls for doubling…
Every day, the financial press and market pundits provide us with the reason for the previous day’s stock market activity. Following a down day, we might read an article headlined, “Investors sell stocks on fears of rising inflation.” Perhaps the next day the market rises and we see, “Stocks climb as investors see end to Fed interest rate increases.” What exactly happened overnight that caused this apparent shift in sentiment? Did investors sleep on it and the next morning collectively…
Even after all these years, my bride still sometimes forgets that there really are three sure things in life: death, taxes and the fact that television rules, especially in sports. As a guy who spent most of his life in the newspaper business, the increasing influence of television became an everlarger burr in my behind. Everything from the length of games (those four-hour-plus University of Notre Dame football games were especially excruciating) to deadlinecrunching late starting times to preferential treatment…
Instead of using her elementary education degree from Ohio State University to teach youngsters, Stephanie Boehm chose to teach managers as a corporate trainer for Olive Garden restaurants. She’s never regretted that decision. Boehm’s background and on-the-job training as manager of a local Outback Steakhouse led to her current career as owner of CR Heroes Family Pub in Fishers. Boehm moved to Indianapolis from Ohio in 1994, when her husband was transferred here. After spending time as a stayat-home mom,…
On the last day of the regular season, many professional teams schedule “fan appreciation” ceremonies. Judging by the numbers of empty seats in Conseco Fieldhouse, the Indiana Pacers might hold “fan depreciation” night April 19 when the regular season comes to a merciful conclusion. The paying customers, as is their wont, are voting with their feet. Time to spend their evenings at home, or outdoors, enjoying the benefits of daylight-saving time (blame it on Mitch!), rather than witnessing another dark…
Indianapolis-based USA Funds is a large, complex organization, and members of its governing board are busy people. Same goes for the NCAA, another local not-for-profit with a national reach, a nine-figure budget and directors who are anything but professional volunteers. The two organizations have one key difference, though: USA Funds pays its board members. The NCAA does not. “It’s simply the nature of the world,” said Norm Lefstein, an Indiana University law professor who chairs the compensation committee at student-loan…
Indianapolis TV stations say a new National Football League policy that bans them from the sidelines during games is a violation of their First Amendment rights and threatens a major source of income. A league-wide rule that was passed 32-0 by team owners March 28 allows only the licensed broadcast rights-holder to shoot sideline footage during games. The National Association of Broadcasters, Radio-Television News Directors Association and Society of Professional Journalists have petitioned to have the rule overturned. Though owners…
On the day after the Men’s Final Four Basketball Tournament concluded, the NCAA’s Greg Shaheen said two national champions had been crowned: The University of Florida in winning, and the city of Indianapolis in hosting. For the local organizers, that was some sweet praise coming from an NCAA guy. Sure, one could question Shaheen’s objectivity. As many know, the 38-year-old is an Indianapolis/Carmel native who not that long ago was one of those local organizers. At the 1997 Indy Final…
At least two large Indianapolis not-for-profits have been investigated-and cleared-as part of an Internal Revenue Service examination of compensation practices at tax-exempt organizations. Preliminary results of the nationwide inquiry aren’t expected until fall, but the scrutiny already has increased the volume in an ongoing debate over how not-for-profit executives should be paid. Some observers have called for setting limits on not-for-profit compensation, citing the charitable nature of the work. Others insist sixor seven-figure pay packages are not out of line…
The Indianapolis Indians have one of the winningest franchises in minor league baseball-at least financially. Since 1973, the AAA franchise has been in the black. And, despite new challenges, the team hopes to maintain that streak this year. But operating expenses that have escalated much faster than revenue in recent years have put all minor league teams on guard, and this season is seen as crucial for the survival of many of those franchises across the country. Even though the…
Congratulations to Kelvin Sampson? Forget that. Congrats go to Indiana University’s athletic director, Rick Greenspan. In this age of wallto-wall media, talk shows, blogs feeding rumors, and undisclosed sources, that Greenspan did an “abracadabra” to pull Sampson out of his hat as IU’s new men’s basketball coach was an astounding piece of magic. Because of all the names mentioned in the six weeks following Mike Davis’ resignation-the Steve Alfords (my choice), the Randy Wittmans, the Tom Creans, the Mark Fews,…
Billboards in southern Indiana used to tug spelunkers in four different directions. Come to Marengo Caves. Spend an afternoon at Bluespring Caverns. Visit Wyandotte Caves. Don a headlamp at Squire Boone Caverns. Two years ago, however, operators at the four attractions decided it might be a better use of cash to market the area as a single attraction. They pooled their advertising budgets and printed a brochure that listed all four destinations. They also created a passport that visitors could…
Which of those constituent groups is most important to Brand is open to debate. Since Brand stepped down as Indiana University president to take over at the NCAA in January 2003, the association’s annual revenue has grown from $433.2 million to $521.1 million. The increase is driven largely by an 11-year, $6 billion TV contract with CBS that took effect during the 2002-2003 sports season. Under Brand’s watch, the NCAA has ushered in new sponsors, including Sirius Satellite Radio, Direct…
A development team this week plans to submit a proposal to the city to build a $250 million, 1,350-room hotel complex downtown on a site where a 235-room Courtyard by Marriott now stands. The project, just south of the entrance to White River State Park, would include a convention hotel with ballrooms; three smaller, more limited-service hotels; an indoor water park; and a 1,200-space underground parking garage. At 800 rooms, the convention hotel by itself would rank as the city’s…
