The IBJ Podcast

Pete the Planner on the five deadly sins of money management

Managing money should be relatively easy, right? It's just math.

Of course, we all know it's actually math plus a bunch of emotions and even baggage. Fear, envy, greed all play into our financial decisions—and sometimes our lack of action.

This week, Peter "Pete the Planner" Dunn and host Mason King talk about the five deadly sins of money management, how to spot them and how to manage them. And both admit to some of their own foibles.

Plus, Dunn talks about the biggest problem he sees today in money management—and it has a lot to do with all those delivery trucks buzzing around town.

You can also read Dunn's latest column for IBJ, which focuses specifically on shame and how it impacts our financial lives.  

 

 

Have you seen this guy painting on the Circle? That's no accident.

If you've spent any time on the Circle this summer, you've probably seen Justin Vining painting the Soldiers & Sailors Monument or the surrounding buildings or even the downtown streets and people.

It's part of an effort the attorney-turned-artist is making to raise his profile as he prepares to move out of the popular Harrison Center for the Arts and into his own studio and gallery space in a building he and his brother, an attorney, have purchased. The marketing tactic has worked. People stop, take Vining's card, shoot photos they post on social media and even buy paintings on the spot.

Vining then adds data about the painting or the sale to what he calls the "hot sheet," a record of his paintings, their sizes, prices and how long they take to sell—even details about who's buying them. It's part of his data-driven effort to boost his art business.

Vining talks to podcast host Mason King about his process—both in creating art and running his business.

For more, read Sam Stall's profile of Vining for IBJ.

 

 

The latest on Indy's downtown restaurant scene: What's coming, what's going

Some of downtown Indy's most prominent restaurant locations are empty with the recent closings of Palomino, Hard Rock Cafe, Scotty's and Granite City. But brokers tell IBJ that the restaurant scene is healthy and the closings have more to do with problems at those individual chains.

In fact, they say those spots should fill up fairly quickly.

In this week's podcast, IBJ real estate reporter Mickey Shuey describes the downtown restaurant scene, with details about what's closing, what's opening and what's coming in the future. Plus, find out where you're likely to spy some IBJ reporters the next time you're out for lunch.

To learn more, read Shuey's story in this week's IBJ.

 

 

Is it time to abandon the 'amateur' model for college sports?

California Gov. Gavin Newsome two weeks ago signed a bill into law that allows college athletes to profit from the use of their name, image and likeness. And the law expressly prohibits the Indianapolis-based NCAA, its member conferences and schools from barring players from doing so.

That's a huge change for college sports, but it didn't come out of the blue. Talk about how to compensate athletes—some of whom play a crucial role in driving ticket sales and alumni donations—has been building for several years.

Still, the NCAA has struggled to deal with the issue.

In this week's podcast, host Mason King talks through the pluses and minuses for the NCAA, college athletes and universities with reporter Anthony Schoettle, who wrote a story about the impact of the California law in the latest issue of IBJ.

 

 

The story behind one of Brown County's newest attractions—Hard Truth Hills

When Jeff McCabe and his partners first decided to go into business together, the goal was pretty simple: Nashville, Indiana, needed a brewery and they might as well be the ones to open it.

So was born Big Woods, the first in a series of related companies that also includes Quaff ON! Brewing Co. and Hard Truth Distilling Co.

Big Woods now has restaurants open or getting ready to open in Nashville, Bloomington, Speedway, Franklin, Noblesville and Westfield, while Quaff ON! brews some 10,000 barrels of beer annually, primarily for Big Woods eateries.

But the crown jewel is Hard Truth Hills, a distillery/restaurant/entertainment complex on 325 wooded acres just east of Nashville. It opened in July 2018 and brought in 267,000 visitors in its first year.

 

Podcast host Mason King talks with McCabe, who is executive chairman of the brands' umbrella company, about how the business has evolved, what makes Hard Truth Hills special and what's coming in the future.

To learn more about Hard Truth Hills, read Sam Stall's story at IBJ.com.

 

 

This vice principal's 'barber shop' helps turn boys into men

Fred Yeakey learned early in his teaching career that one way to have in-depth conversations with his students was to cut their hair. Something about the give-and-take that occurs during that interaction allowed kids to open up in ways he hadn't seen before.

And so was born Mr. Yeakey's barber shop—a program the educator has taken with him as he's changed schools. 

Today, at Providence Cristo Rey High School, where Yeakey is vice principal of culture and mission, a handful of students gather weekly after school. Some get their hair cut. Others are just there for the conversation about sports, school, trauma, jobs and life.

Mr. Yeakey talks with host Mason King about why the barber shop works, what he's learned from his students and how the program could be used at other schools.

 

 

This AI whiz chose Indy over Silicon Valley. He explains why.

Luke Zhang had offers from the biggest tech firms in the country when he graduated with three degrees—in computer science, software engineering and mathematics—from Rose-Hulman Institute of Technology.

But Zhang chose to take a job instead with DemandJump in Indianapolis, a move he attributes to the people he met during a TechPoint internship program and the desire to be in a place where he could make a difference.

Zhang, who came to the U.S. from China as a teenager, talks with podcast host Mason King about what makes the Indy tech community special and how it could market itself better. And he explains why he takes people skills as seriously as he does his math skills.

To read more about Zhang, check out this story by IBJ reporter Anthony Schoettle, who talked to Zhang's colleagues, including his boss at DemandJump who called Zhang a "generational talent."

IBJ photo/Eric Learned

How a former cop came to lead the area's top-selling real estate team

Dennis Nottingham was on a police run when he met a house flipper who piqued his interest in real estate. Not long after, Nottingham took some classes and got his real estate license. And for awhile, he sold houses on the side, while working the night shift for the Indianapolis Metropolitan Police Department.

But after his daughter was born, Nottingham knew something had to give. So he moved into real estate full time, with a focus on selling foreclosures and homes in need of major rehab. 

Today, he owns a RE/MAX franchise — the Indy Home Pros Team — which has taken the No. 1 spot on IBJ’s All-Star team rankings for the fourth straight year. The team had sales volume of $316 million in 2017-2018 on 1,957 transactions.

Nottingham talks with podcast host Mason King about why he's assembled such a big team and why they focus on moderately priced homes, unlike most of the other teams on the IBJ list. And he explains how his police work helped him be a better real estate agent.

Click here to see the full list of real estate teams on IBJ's list and find out who made the list of top-selling solo agents.

IBJ photo/Eric Learned

How to prepare for the next recession

History tells us that a recession is all but inevitable. But just when the next slowdown will strike is a mystery.

So is there something you should do now to prepare? IBJ columnist Peter Dunn—aka Pete the Planner—says yes. But unless you're within 10 years of retirement, resist making big changes to your investments.

Pete talks to host Mason King about how to look at your budget and evaluate your readiness for a recession, and he offers advice about the kinds of changes that can help. Plus, he explains why you're making a mistake if you try to time the market's ups and downs.

Photo courtesy of Shutterstock.com

This episode of the IBJ Podcast is sponsored by Krieg DeVault.

  

Upland expands Indiana footprint as it sends beer overseas

Upland Brewing Co. opened its main brewery and first brewpub in Bloomington in 1998 and this year will produce 16,000 barrels of beer a year, making it the state's third-largest brewer.

It now operates two brewpubs in Indianapolis and one each in Carmel, Columbus and Bloomington, as well as tasting facilities at its two Bloomington breweries.

Host Mason King talks with Pete Batule, Upland’s chief operating officer, about the company's growth, including its busy new brewpub in Fountain Square, and the line of sour beers that its selling across the country and overseas.

For more info, read IBJ reporter Susan Orr's story about Upland in the most recent issue of IBJ.

This episode of the IBJ Podcast is sponsored by Krieg DeVault.