Indianapolis Business Journal articles from April 2005

Indianapolis Business Journal archives from April 2005

Incubator lures biotech upstart; fish vaccine biz hoping to land on canal.(Richard Wagner talks with University of Indiana to shift its headquarter from Ohio to the university's Emerging Technologies Center)
April 4, 2005... Hatching new businesses is getting to be routine for Indiana University. So it was easy for Richard Wagner to contemplate moving his biotech startup from Columbus, Ohio, into IU's 2-year-old business incubator on the Central Canal. "It's...

ProLiance verdict to cost Citizens; utility to pay at least $1.5m in fraud case.(Citizens Gas and Coke Utility wins lawsuit against ProLiance Energy L.L.C)
April 4, 2005... Citizens Gas & Coke is one of two Indiana utilities burned by a $33.5 million jury verdict, won under a federal racketeering law, against Indianapolis-based ProLiance Energy, an unregulated subsidiary of Citizens. The city-owned Citizens...

Y&L moving HQ to school; ad firm to leave Massachusetts Avenue for renovated IPS building in Lockerbie.
April 4, 2005... Advertising agency Young & Laramore is putting its high-profile Massachusetts Avenue building up for sale as it prepares to buy and occupy a former school building in Lockerbie Square. Y&L is listing its 17,000-square-foot building at 409...

Wishard aims to even it up; health system could break deficit string.(budget deficits at Wishard Health Services)
April 4, 2005... About half the bills Wishard Health Services used to send out came back sans payment thanks to an error. Now that happens only 4 percent of the time, a change that saves millions, according to Wishard number-crunchers. Improvements...

Radio roulette: format moves start high-stakes bidding war for listeners.
April 4, 2005... Central Indiana radio stations are spinning the roulette wheel, employing market-rocking format changes that have station executives, advertisers and media buyers watching to see where listeners--and revenue--will land. "This market hasn't...

Little jets get the test in Indiana; new aircraft could help small airports shave costs.
April 4, 2005... A top Indiana economist will study whether an emerging class of aircraft known as "very light jets" could fuel an economic boom, especially in the state's smaller, more isolated communities. Morton J. Marcus, director emeritus of the...

Conseco cloud follows Cuneo to Duke Realty.(case against fomer executive Ngaire Cuneo)
April 4, 2005... Conseco Inc. is suing former executive Ngaire Cuneo to try to collect $65 million it says she owes under the company's disastrous loan program. Worse, a federal judge last summer said the explanation she gave in court for buying a $10 million...

King Memorial Park area readies for redevelopment; local contractor wants to build 50 homes in near-north-side neighborhood.
April 4, 2005... A local investment firm hoping to capitalize on a resurgent near-north side is planning a 50-home, privately funded redevelopment project in the blocks surrounding Martin Luther King Jr. Memorial Park. Homevestors LLC, led by husband and...

New day care offers option for sick children; Sniffles 'N Such opens near Methodist Hospital.
April 4, 2005... The new Sniffles 'N Such day care separates itself from the average Indianapolis nursery in subtle ways, but working parents say the relief it provides is anything but minor. Day Nursery Association opened the care center for sick children...

Indy Jazz Fest regains firm financial footing; organizer raises June event's entire $1 million budget from corporate sponsors months in advance.
April 4, 2005... The ticket sales will be gravy. American Pianists Association Executive Director Helen Small reports she's already raised enough funds to cover the 2005 Indy Jazz Fest's entire $1 million budget. Insolvent just three years ago, the...

The third sector takes the baton; smart investing, important tasks make CICF a community leader.(Central Indiana Community Foundation makes steps towards economic development)(Editorial)
April 4, 2005... When tight government budgets and narrow vision leave important community needs out in the cold, the private and not-for-profit sectors often come to the rescue. And so it is with the Central Indiana Community Foundation, which is putting...

A look back.(Indiana Historical Society gives approval to city's plan to build a golf academy)(Brief Article)(Editorial)
April 4, 2005... Building anew to preserve the past, the Indiana Historical Society OK'd plans to build a $15 million headquarters on the Central Canal, said the June 20-26, 1994, IBJ. The city's plan to build a golf academy near the Major Taylor Velodrome was...

Keep lights on at the Statehouse.(Column)
April 4, 2005... Every morning I wake up happy that my job doesn't require getting things through the Indiana General Assembly. I don't have that kind of patience, and I'm not cut out to deal with that much frustration. I understand that big issues take...

Casino location none of state's business: casinos are not necessary to the public welfare. Their investors need not be protected by the state.
April 4, 2005... Let's see if I have this right. This is Indiana, a state dominated by conservative thought. Folks here support the free market, unimpeded competition, the rough-and-tumble world of entrepreneurs doing their stuff guided by the benevolent...

A novel treatment for workplace injuries.
April 4, 2005... Oh, my aching back! How often we express that lament, or perhaps it's an aching neck or shoulders or wrist pain. If you have escaped so far, you can surely identify a friend or co-worker who is hurting. Is it because we are aging or is...

40 Under 40 needs more minorities.(Letter to the Editor)
April 4, 2005... For the 10th year in a row I've read and paid particular attention to the 40 Under 40 insert in IBJ, and for the 10th year I have been simply amazed. I tried to blow it off when I first read it back in [the Feb. 7 issue]. However, after a month...

Column on Davis was dead on.(Letter to the Editor)
April 4, 2005... [Bill Benner's] column on [Indiana University basketball coach] Mike Davis in the [March 28] IBJ is first-rate. You covered all the bases. I particularly enjoyed your reference to the "fawning media," which Davis played like a violin to get his...

Competing interests emerge to cloud coming budget tiff; keep a very close eye on the proposed diversion of the riverboat taxes.(STATEHOUSE DISPATCH)
April 4, 2005... At the beginning of the legislative session, you probably thought that given Republicans were firmly in charge at the Statehouse for the first time in 20 years, budget-making , would be easy. Guess again. And gear up for a major budget...

Trouble at IndyGo.(Letter to the Editor)
April 4, 2005... [Regarding whether IndyGo's IT director is paid too much, from the March 28 issue,] maybe the top executive is not being paid enough. If your tech guy is being paid more than your top exec., there is a problem. Maybe this is the reason...

We need reminders to tell people we care.(Letter to the Editor)
April 4, 2005... I just read [Tawn Parent's] commentary, "The importance of being different," in the [March 28] IBJ, and wanted to compliment you on it. It is beautifully written, heartfelt and a lovely tribute to a very special little boy. What a marvelous...

State needs smart approach to growth.(Letter to the Editor)
April 4, 2005... I read with interest [Morton Marcus'] column in the March 14 IBJ. It has long been obvious to me that Indiana in general and most all the expanding counties around Indianapolis in particular have little if any plan for logical development. The...

Hoosier Hysteria can still be found.(Letter to the Editor)
April 4, 2005... I usually enjoy [Bill Benner's] column. It's refreshing to have a little sports talk among the building starts, stock prices, merger and acquisition reports, etc. I must tell you that there have been multiple sightings of the Hoosier...

CTMT, Halakar list former Galyan's HQ.(Colliers Turley Martin Tucker and Halakar Real Estate puts Galyan's Trading Co. headquarter building on sale)(Brief Article)
April 4, 2005... The former headquarters of Galyan's Trading Co. Inc. in Plainfield is officially on the market. Local commercial real estate brokerages Colliers Turley Martin Tucker and Halakar Real Estate are co-listing the 100,000-square-foot building...

U of I names new dean.(University of Indianapolis appoints Matthew Wall)(Brief Article)
April 4, 2005... The University of Indianapolis has named Matthew Wall the new associate dean of its School of Business. An assistant professor of finance, Will also serves as director of the university's graduate business programs. The University of...

Indiana University's Kelley School of Business will make changes to its curricula this fall to address a need for graduates.(P&G Fund grands funding to the business school)(Brief Article)
April 4, 2005... Indiana University's Kelley School of Business will make changes to its curricula this fall to address a need for graduates to better understand Radio Frequency Identification technology. So-called RFID, which uses radio frequencies to read...

Winona equipment auction nears.(Winona Memorial Hospital's equipments on sale)(Brief Article)
April 4, 2005... Bankruptcy lawyers involved in the Winona Memorial Hospital case ironed out details for an April equipment auction but made no mention of a possible sale of the building during a March 25 appearance in U.S. Bankruptcy Court. San...

ESPN Radio signs local sports attorney for weekly talk show.(Milton Thompson signs contract to host the radio talk show)(Brief Article)
April 4, 2005... Milton Thompson, president of Indianapolis-based Grand Slam Cos. and a sports and entertainment attorney, has agreed to partner with WXLW-AM 950, a local ESPN Radio affiliate, to host and produce a weekly sports business radio program to air on...

Foundation helps local NFP.(Anthem Blue Cross and Blue Shield Foundation donates money to Second Helpings Inc.)(Brief Article)
April 4, 2005... More than 2,800 more meals will be delivered to needy central Indiana residents each day thanks to a $28,000 grant from the Anthem Blue Cross and Blue Shield Foundation. The gift will help Indianapolis-based Second Helpings Inc. buy two...

Apartments set for conversion.(real estate development)(Brief Article)
April 4, 2005... A Chicago-based developer has purchased Northampton Village at 7700 Harcourt Road and plans to convert the 152-unit apartment complex into condominiums. The size of the units--about 1,400 square feet on average and some up to 2,000 square...

Mexican eatery eyes Carmel.(Abuelo's Mexican Food Embassy opens stores in Indiana)(Brief Article)
April 4, 2005... Abuelo's Mexican Food Embassy, a Lubbock, Texas-based chain eatery, plans to open its first central Indiana location near 146th Street and U.S. 421 in Carmel this June. The company has 22 locations, mostly in the Southwest. Abuelo's in the...

Champ Car plans China race.(Beijing Auto and Motor Sports Association sings memorandum of understanding with the automobile maker)(Brief Article)
April 4, 2005... Indianapolis-based Champ Car has signed a memorandum of understanding with the Beijing Auto and Motor Sports Association, clearing the way for the series to hold a race in Beijing. The inaugural event, which would be the first Champ Car race...

BioCrossroads symposium highlights biosensors.(Brief Article)
April 4, 2005... BioCrossroads, central Indiana's life science initiative, has identified the growing field of biosensors as a key local economic development target. On April 6, BioCrossroads will hold the Indiana Biosensor Symposium from 7 a.m. to 6 p.m. at...

Groups get 'fast-track' funding.(Indianapolis Cultural Development Commission grants funding to arts centers)(Brief Article)
April 4, 2005... The Indianapolis Cultural Development Commission recently awarded $15,200 in grants to four Indianapolis organizations as part of its 2005 Fast-Track Funding Program. Grants are awarded for projects that strengthen the city as a cultural...

Team wants to make jet ownership easy.(Brief Article)
April 4, 2005... Two corporate jet executives in Indianapolis are teaming up to serve Indiana businesses that don't own a corporate aircraft but want to. Clay Adams, a corporate pilot and principal of Aircraft Management Consultants, and Chad Winings, an...

Coles Creative.(Tim Coulon appointed as director and Brian Colas appointed as manager)(Brief Article)
April 4, 2005... * Tim Coulon has been named creative director of Coles Creative, a new division of ColesPR. * Brian Colas has been named account manager.

R.W. Armstrong.(Jason Hignite appointed)(Brief Article)
April 4, 2005... * Jason Hignite has joined R.W. Armstrong as a senior environmental planner.

Fifth Third Bank.(appointments)(Brief Article)
April 4, 2005... Fifth Third Bank has added the following: * Takayasu Ham, vice president, Asian desk relationship manager; * Brial Wissman, vice president, private client director of sales; * Bryan Walters, vice president, commercial middle market/leveraged...

Lincoln Bank, Plainfield.(Jennifer Meyers promoted)(Brief Article)
April 4, 2005... * Jennifer Meyers has been promoted to commercial banking officer, Greenwood market, at Lincoln Bank, Plainfield.

Federal Home Loan Bank of Indianapolis.(appoints Douglas J. Iverson)(Brief Article)
April 4, 2005... * Douglas J. Iverson has joined the Federal Home Loan Bank of Indianapolis as vice president, mortgage purchase manager.

Waddell & Reed Financial Services.(appoints Jama DeHeer)(Brief Article)
April 4, 2005... * Jama DeHeer has joined Waddell & Reed Financial Services as a financial advisor.

Indiana Financial Partners LLC.(appoints Don Hurley)(Brief Article)
April 4, 2005... * Don Hurley has joined Indiana Financial Partners LLC as a financial planner.

Timpe & Timpe Financial Advisory Services.(appoints Bob Beck, Timpe Legal Services appoints Edward Judson)(Brief Article)
April 4, 2005... Bob Beck has joined Timpe & Timpe Financial Advisory Services. Edward Judson has joined Timpe Legal Services as a staff attorney.

Westview Hospital.(appoints D. Sue Yeskie)(Brief Article)
April 4, 2005... D. Sue Yeskie has joined Westview Hospital as the director of marketing and communications.

OneAmerica Financial Partners Inc.(promotes Beth Adams, Mike Bullock, Maryann Kriner, Lloyd Spencer and appoints Stephanie Valadez)(Brief Article)
April 4, 2005... OneAmerica Financial Partners Inc. and its affiliated companies has promoted the following: Beth Adams, assistant vice president, retirement services systems; Mike Bullock, vice president, private placements, investments division; and Maryann...

Barnes & Thornburg LLP.(appoints Kendall Millard, Kevin L. McLaren, Jack L. Stark Jr., Marcus B. Chandler)(Brief Article)
April 4, 2005... Barnes & Thomburg LLP has added the following: * Kendall Millard, associate, litigation and intellectual property; * Kevin L. McLaren, intellectual property department; and * Jack L. Stark Jr., as of counsel, litigation department. * Marcus B....

BoseTreacy Associates LLC.(appoints Joy Melnyk)(Brief Article)
April 4, 2005... * Joy Melnyk has been promoted to assistant vice president, association management division, at BoseTreacy Associates LLC.

Human Technologies Inc.(appoints Nancy Holland)(Brief Article)
April 4, 2005... Nancy Holland has joined Human Technologies Inc. as senior recruiter.

Market Voice Consulting.(appoints Veronica Newman)(Brief Article)
April 4, 2005... * Veronica Newman has joined Market Voice Consulting as quantitative program manager.

Planners brace for museum meeting: city to show its culture to influential gathering.
April 4, 2005... The world's largest museum meeting convenes in Indianapolis next month, and organizers say the gathering could do more than showcase the city's ever-growing cultural cache. Hosting an estimated 5,000 museum professionals and patrons also...

The challenge of change: switching hotel flags can be hard work, but operators say new brands pay off.
April 4, 2005... As general manager of the new Hilton Indianapolis North, Mark Deinhart has a lot on his plate these days. But the hefty portions include more than his duties supervising the hotel's revamped restaurant as part of a $5 million renovation. ...

State tourism effort set for new format; lawmakers create separate department; supporters think changes could lead to less bureaucracy, more funds.
April 4, 2005... A new era for the state's tourism efforts has begun. After years of languishing in the Department of Commerce, lawmakers passed legislation late last month creating a separate Department of Tourism and Community Development that will report...

ROSE Awards ceremonies honor hospitality workers; a dozen employees commended for top-level service.(HOSPITALITY/MEETINGS/EVENTS)
April 4, 2005... A dozen individuals received ROSE Awards at the Indianapolis Convention & Visitors Association's 14th annual ROSE Awards event in mid-March. The ROSE--for Recognition Of Service Excellence--honors employees who positively influence a...

Startup hopes to find niche with golf travel packages: former players emphasize ability to customize trips.
April 4, 2005... Two men with a gift for golf hope their success at the game will give them an edge as they tee off on a new business venture. Brian Pearce, 26, and Nate Stout, 23, have launched ReadyGolf Getaways, an upstart venture that puts together...

Largest Indianapolis-area independent caterers (1).(HOSPITALITY/MEETINGS/EVENTS)(Directory)(Illustration)
April 4, 2005... Largest Indianapolis-Area Independent Caterers (1) (Ranked by 2004 gross catering sales (2)) PRICE RANGE GROSS PER PERSON: ...

Largest Indianapolis-area travel agencies.(HOSPITALITY/MEETINGS/EVENTS)(Directory)(Illustration)
April 4, 2005... Largest Indianapolis-Area Travel Agencies (Ranked by 2004 local gross sales) LOCAL: FTE ...

AOL beefs up its travel-help services.(HOSPITALITY/MEETINGS/EVENTS)(PinpointTravel.com)(America Online Inc.)(Brief Article)
April 4, 2005... Time Warner Inc.'s America Online, the largest U.S. Internet service provider, is starting a new travel search engine to help Web users compare prices of flights, hotel and vacation packages. PinpointTravel.com searches for bargains on more...

Moving on up.(HOSPITALITY/MEETINGS/EVENTS)(Brief Article)
April 4, 2005... Construction crews are nearing the top of the 23-floor Conrad Indianapolis hotel and condominium project. Slated for a spring 2006 opening, the downtown facility, at the corner of the Illinois and Washington streets, will have 243 luxury hotel...

Investors' actions mean lower investment returns.
April 4, 2005... Have you been an investor in stocks for 20 years? Since the demographics of this paper show that the average Subscriber has household income of more than $220,000 and is 48 years old, the answer is probably, "yes." Over 20 years, the S&P...

As bull market winds down, time remains for bargains.
April 4, 2005... There wasn't enough space last week to complete the discussion of the long-base theme. These are stocks that have been trading in tight ranges for many years and can offer tremendous returns to investors. Last week, I brought up Honda and...

Enjoy growth while it lasts, because change is afoot.(ECONOMIC ANALYSIS)
April 4, 2005... There is good news for the Indiana economy. Strong spending by businesses on capital goods in the national economy in 2004 translated into the best year for output and hiring we've seen in the state economy in more than five years. And...

Gannett Company Inc.(Company Profile)(Illustration)
April 4, 2005... Gannett Company Inc., 7950 Jones Branch Drive, McLean, Va., 22107 (www.gannett.com), is an international news and information company that publishes daily newspapers, including The Indianapolis Star and USA Today, and operates television...

Here's how to learn to parler francais online.
April 4, 2005... Several years ago, a colleague and I were in Montreal on both business and pleasure. I defy anyone to visit Montreal for business alone. It ranks with American cities such as Boston and San Francisco for charm and variety. Only one thing...

Average price of local homes rises.(Brief Article)
April 4, 2005... The average price of homes in central Indiana rose in February to $146,344, a 9.1-percent increase over the same month a year ago, according to the Metropolitan Indianapolis Board of Realtors. The number of homes sold in February was down 6.8...

Evansville officials hope for deal with Tennessee airline.(Brief Article)
April 4, 2005... The last flight between Evansville and Indianapolis took off March 28 on ATA Airlines' subsidiary Chicago Express, but Evansville airport officials said they hoped an agreement will be reached with Smyrna, Tenn.-based Corporate Air to take over...

Business Week ranking includes three Indiana companies.(Brief Article)
April 4, 2005... Three Indiana companies are among Business Week magazine's Top 50 Best Performing Companies in its annual ranking of those included in the Standard & Poor's 500 stock index. Columbus-based Cummins Inc. came in at No. 29, Indianapolis-based...

Competition for Lilly's Zyprexa may heat up.(Eli Lilly and Co.)(Brief Article)
April 4, 2005... The Food and Drug Administration has issued tentative clearance for the marketing of a generic form of Zyprexa, Eli Lilly and Co.'s biggest-selling drug, to Teva Pharmaceuticals Industries Ltd. Approval is contingent on the Israel-based...

Report highlights transportation-funding woes.(Brief Article)
April 4, 2005... State funding for Indiana's highways is inadequate, according to a report issued by the Transportation Policy Institute of St. Paul, Minn. The report noted that funding is inadequate because inflation has cancelled out the 2003 gasoline tax...

Local company receives $50m line of credit.(Oak Street Mortgage L.L.C.)(Brief Article)
April 4, 2005... Carmel-based Oak Street Funding LLC has closed on a $50 million line of credit from a syndicated bank group, the company announced March 28. Oak Street Funding, a subsidiary of Oak Street Financial Services Inc., is a finance company providing...

Internet directory.(Directory)
April 4, 2005... BUSINESS OPPORTUNITY * THE ENTREPRENEUR AUTHORITY Franchise Placement Services (317) 663-3029 or (877) 850-2374 www.eauth.com EXECUTIVES / MANAGERS / SALES PEOPLE Looking for self-employment? * The Entrepreneur...

Bankruptcies.(RECORDS)(Public Notice)
April 4, 2005... Marvin Homes Inc., 14933 Oak Road, Carmel, 46033. Chapter 7 liquidation. Assets: none; liabilities: $1,262,728.

Calendar.(RECORDS)(Calendar)
April 4, 2005... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. April 4, 7-8:30 a.m.: Business & Professional Exchange, Career Networking, North chapter, St. Luke's United Methodist Church,...

Conventions.(RECORDS)
April 4, 2005... April 7-April 9: Lutheran Education Association, Indiana Convention Center & RCA Dome. Estimated attendance: 4,000 April 7-April 10: Alpha Kappa Alpha Sorority Inc., Indianapolis Marriott Downtown. Estimated attendance: 1,500 April...

Fund raising.(RECORDS)
April 4, 2005... Humane Society of Indianapolis to benefit from National City Bank's Pass the Bone through April 9. The bank's customers will be given the opportunity to make a donation while at the branch. Indianapolis American Marketing Association...

Grants.(RECORDS)(Brief Article)
April 4, 2005... Crossroads of America Council, Boy Scouts of America, received a $3,500 grant from the Indianapolis branch of Smith Barney. Coburn Place Safe Haven was awarded a $40,000 grant from the Efroymson fund, a Central Indiana Community Foundation...

Patents.(RECORDS)(Public Notice)
April 4, 2005... From the Jan. 4, 2005, Official Gazette of the U.S. Patent and Trademark Office. James E. Audia, Warren I. Porter, Stephen C. Wilkie, Indianapolis; Douglas R. Stack, Fishers; Qing Shi, Carmel Deoxyamino acid compounds, pharmaceutical...

IT firm targets small businesses, not-for-profits: Web-hosted services one of the company's fastest-growing areas.(Appnuity LLC)
April 4, 2005... In the age of technology, computers manage much of our lives at work and home. But for small businesses and not-for-profits, the cost of equipment, software and tech-savvy employees can be out of reach. That's where Appnuity LLC steps in. ...

Relocations.(RECORDS)
April 4, 2005... Timpe & Timpe CPA to 4212 W. 71st St., 46268. Ruppert & Schaefer PC to 2910 E. 96th St., Suite D, 46240.

New lockboxes to enhance reliability.(Metropolitan Indianapolis Board of Realtors)(Brief Article)
April 4, 2005... The Metropolitan Indianapolis Board of Realtors announced it has purchased 22,000 SentriLock lockboxes and will convert lockboxes used on homes for sale in the nine-county Indianapolis area to the SentriLock system. According to MIBOR, the...

Seminar to spread word on wellness.
April 4, 2005... Developing and implementing wellness programs will be the topic of a free seminar hosted April 8 by the Indiana Wellness Council and the Methodist Occupational Health Centers. The seminar will focus on strategies to reduce the use of health...

Good grief, my mailbox runneth over with love.(NOTIONS)(Column)
April 4, 2005... One night last week, after dining out with friends, I walked through the cold March mist to my mailbox. I expected more medical bills for failed cancer treatments, another batch of sympathy cards and some catalogs trying to sell my late wife...

Precision serves sculptor, painter and engineer.(PROFILE: MATTHEW DAVEY)
April 4, 2005... Matthew Davey works on software design at his job as an engineer with Raytheon Engineering and Product Support, formerly known as Naval Avionics, on the city's east side. But in his off hours, Davey works on "hard" ware design--bronze,...

And I repeat ... the new stadium isn't just for football.(SPORTS)(Column)
April 4, 2005... A lot of folks have pointed to the arrival of the Indianapolis Colts in 1984 as the beginning of the Indianapolis renaissance through sports. I would submit that the train already had left the station. The Indianapolis 500...

Banker fits bill at art museum: ex-Bank One CEO O'Connor leads facility through final stages of $74M expansion.(Lawrence A. O'Connor Jr.)
April 11, 2005... Just over a year after retiring from the top position at central Indiana's largest bank, former Bank One of Indiana CEO Lawrence A. O'Connor Jr. found himself giving up his newfound freedom to run another big business--the Indianapolis Museum...

Tough losses hit Powerway: software firm cuts workers, CEO resigns after General Motors terminates contract.
April 11, 2005... Its software was supposed to become the American auto industry's standard. Instead, Powerway Inc. finds itself scrambling once again to recover from a sudden reversal of fortune. Detroit-based General Motors Corp. has terminated its...