Indianapolis Business Journal articles from August 2004

Indianapolis Business Journal archives from August 2004

Anthem, Garamendi dig in: companies say compensation in line with market demands.
August 2, 2004... California's insurance commissioner in recent days has rattled off a stream of sound bites to blast the hundreds of millions of dollars in merger-related payments earmarked for executives of WellPoint Health Networks Inc. He's called them...

Radio's new tune: clear channel hopes fewer ads will help lock in more listeners.
August 2, 2004... Call it Broadcasting Basics meets Economics 101. Industry giant Clear Channel Communications Inc. has rewritten its promotions playbook, unveiling a plan to limit advertising time on its 1,200-plus radio stations beginning Jan. 1. The...

Anthem, Garamendi dig in: after nixing merger, commissioner gung ho for court.(Anthem Inc. sue California Insurance Commissioner John Garamendi over rejection of proposed merger with WellPoint Health Networks Inc.)
August 2, 2004... Anthem Inc. executives will find a motivated opponent waiting when they take California Insurance Commissioner John Garamendi to court over his decision to reject their proposed merger with WellPoint Health Networks Inc. Garamendi said he...

County finds defense funds: facing judicial mandate, auditor earmarks $500,000 for Cook.
August 2, 2004... Local Republicans believe they've found a solution to Marion County Chief Public Defender David Cook's juvenile division funding crisis. But it's only a temporary fix, and there's still no end in sight to local officials' partisan battles...

Selling eBay to the masses: auction drop-off sites popping up around Indy.
August 2, 2004... Musical instrument collector Terry Johnson was drowning in guitars. He'd scoop them up at garage or estate sales, but he didn't always want to keep them for his collection. "I kind of built up a number of them just sitting around,"...

Cinergy named in federal lawsuit: settlement could send rates skyward, hurt Indiana's industrial base.(American Electric Power Co., Cinergy Corp., Southern Co., Xcel Energy Inc. and the Tennessee Valley Authority defendants)
August 2, 2004... Cinergy Corp. is one of five energy companies named in a federal lawsuit filed by attorneys general from eight states and officials from New York City. But manufacturers and other big energy users could feel as much impact as energy...

Ex-ITT prez lost access to company records in June.(Behind The News; questions re. departure of Omer Waddles from ITT Educational Services Inc.)
August 2, 2004... Information is coming out in dribs and drabs that only adds to the intrigue surrounding the departure of Omer Waddles as president and chief operating officer of embattled lit Educational Services Inc. ITT has been operating under a...

Kite adjusts IPO hopes amid glut of offerings: principals to hold more than $131m worth of company.(Initial Public Offering)(Real Estate Investment Trust)
August 2, 2004... Locally based Kite Cos. on July 23 put more meat on the bones of its plan to go public, revealing details about the IPO and the principals' ownership in an updated filing with the U.S. Securities and Exchange Commission. In the filing,...

Client conflicts led to breakup of merged firm: Sommer Barnard, Ackerson split after two years.
August 2, 2004... Conflicts of interest are to blame for breaking up the brief union that created Sommer Barnard Ackerson Attorneys PC two years ago. Sommer & Barnard PC merged its practice with prominent Washington, D.C., trial lawyer and native Hoosier...

Ambassadair flies high during turbulent times: despite industry woes, travel club posts record growth.
August 2, 2004... While the airline and travel industries negotiate continued turbulence, locally based Ambassadair Travel Club is soaring to record growth. Officials for Ambassadair are reporting higher profit, membership numbers and trip bookings than...

Long in development, life science firm poised for growth: Centerfield Capital makes $1.5 million investment in DCL Medical Laboratories.
August 2, 2004... Explosive growth isn't something you expect from a 20-year-old company. But DCL Medical Laboratories has never fit the textbook business model. For two decades, locally based DCL cultivated a reputation for superior quality in its medical...

Plan lands life-saving machines in schools; more than 200 defibrillators purchased at discount price.
August 2, 2004... A program started last fail by some Curtis Publishing Co. executives has landed more than 200 life-saving defibrillators in schools around Indiana and could place many more once classes resume later this month. The program kicked off after...

IU medical school names new chair.(Indiana University)(Brief Article)
August 2, 2004... Indiana University has appointed the first female chairwoman of the medical school's Department of Radiology. The university announced July 20 that Dr. Valerie P. Jackson would succeed Dr. Mervyn Cohen, who resigned as department chairman...

Time for creativity in Anthem merger; executives should leave no stone unturned in effort to get deal done.(Editorial)
August 2, 2004... It's no wonder Anthem Inc. officials were upset by California Insurance Commissioner John Garamendi's July 23 rejection of its merger with California-based WellPoint Health Networks Inc. The deal has been a year in the making. A lot is at...

Dick Cady writes 'that book'.(Commentary)
August 2, 2004... "She would have been naked except for the pink silk panties and the tattoo of a Venus's-flytrap on the inside of her left thigh... " With that titillating observation, Dick Cady launches his first novel, "The Executioner's Mask." If you...

Corrections.(Editorial)(Correction Notice)
August 2, 2004... * The Web address for Adesa Inc. is www.adesainc.com. It was listed incorrectly last week in the list of Largest Directors' Fees of Indianapolis-Area Public Companies. * Due to incorrect information supplied by the U.S. Small Business...

Stats put jobs changes in context.(Eye On The Pie)
August 2, 2004... The U.S. Bureau of Economic Analysis has just released county data for 2002. To some readers, this may seem like stale information, but it is not. The BEA data are the most comprehensive series available. They include proprietors, who are often...

Fairness requires full-day kindergarten.(Viewpoint)
August 2, 2004... Equitable availability of a high-quality education for all citizens is one of the most important obligations of a state government. While true equity is an ideal so challenging that it might always be just beyond our grasp, we must realize that...

Praise for balance in credit union story.(Letters)(Letter to the Editor)
August 2, 2004... I thought [Peter Schnitzler's] story [in the July 26 Banking & Finance Focus] was the most balanced we have seen from IBJ on this topic. Thanks. By the way, regarding [Indiana Bankers Association President Jim] Cousins' remark about...

Government should lead smoking charge.(Letters)(Letter to the Editor)
August 2, 2004... A most important [editorial] appeared in the July 26 edition: "Clean Air at Smee's." The [editorial] provides a level of praise for Tim Smeehuyzen, owner of Smee's Place, for his soon-to-be-enacted smoking ban. Smeehuyzen deserves the highest...

County agencies must cut spending.(Letters)(Letter to the Editor)
August 2, 2004... The public is understandably frustrated by the bizarre chain of events concerning the county budget. It is taking on an "Alice in Wonderland" feel, where every door that is opened only leads to a stranger set of circumstances. The 2004...

Indiana needs to embrace change.(Letters)(Letter to the Editor)
August 2, 2004... During the entire last three years of recession, Joe Kernan as lieutenant governor did nothing for the economy. He only watched it dwindle and then the $2 billion surplus was gone as well. His answer now to unemployment is gambling in Orange...

Hillenbrand's printing follows presses to SPG Graphics in outsourcing deal.(On The Beat)(SPG Graphics Inc.)(Brief Article)
August 2, 2004... Locally based SPG Graphics has brokered a unique deal with Batesville-based Hillenbrand Industries Inc. in which Hillenbrand will shift its in-house print jobs to SPG. SPG agreed to buy five small- to medium-sized offset printing presses...

Bloomberg names top wealth managers.(Banking)(Bloomberg Wealth Manager magazine)(Brief Article)
August 2, 2004... Seven Indianapolis-area financial advisory firms and one in Kendallville were named to Bloomberg Wealth Manager magazine's list of the nation's top wealth managers in its July/August issue. Firms were ranked according to the value of an...

IPIC scholarship honors Williams.(Education)(Indianapolis Private Industry Council)(Brief Article)
August 2, 2004... The Indianapolis Private Industry Council is offering a $5,000 college scholarship in honor of community leader Rev. Charles R. Williams, who died July 12. Williams was president of Indiana Black Expo for 21 years; he took a special...

Hospitals add hospice services.(Health Care)(Morgan Hospital & Medical Center)(Brief Article)
August 2, 2004... Community Hospital East and Morgan Hospital & Medical Center recently introduced hospice services through separate programs. Community Hospital East opened four suites featuring around-the-clock service, artwork, VCR/DVD players and a...

This year's Wishard Telethon raised $1.8 million for Wishard Health Services, Indianapolis' public hospital.(Health Care)(Brief Article)
August 2, 2004... * This year's Wishard Telethon raised $1.8 million for Wishard Health Services, Indianapolis' public hospital. The culmination of a three-week campaign, the telethon was broadcast July 7 on WTHR-W Channel 13. Results include funds raised...

Casino is agency's trump card.(Media & Marketing)(Brief Article)
August 2, 2004... Local marketing agency MZD had reason to celebrate July 20 when the Indiana Gaming Commission chose Trump Hotels & Casino Resorts to develop and operate a casino in French Lick. MZD has been handling marketing and public relations duties...

Indianapolis Spanish-language station WIIH-TV Channel 17 continues to make inroads on central Indiana cable systems.(Media & Marketing)(UN Television Corp)(Brief Article)
August 2, 2004... * Indianapolis Spanish-language station WIIH-TV Channel 17 continues to make inroads on central Indiana cable systems. Bright House Networks subscribers will find the local Univision affiliate in place of the national feed on cable Channel...

Indianapolis-based Delta Faucet Co. has named Young & Laramore agency of record for its Peerless brand after working with the local ad shop to launch the premium Brizo faucet.(Media & Marketing)(Brief Article)
August 2, 2004... * Indianapolis-based Delta Faucet Co. has named Young & Laramore agency of record for its Peerless brand after working with the local ad shop to launch the premium Brizo faucet. The agency will be charged with reinvigorating Peerless in the...

Chemical company expands in Keystone Industrial park.(Real Estate)(Mid-State Chemical and Supply Corp.)(Brief Article)
August 2, 2004... Mid-State Chemical and Supply Corp. plans to break ground later this month on a $2 million expansion that will more than double the size of its facility in Keystone Enterprise Park near Interstate 70 and Keystone Ave. The company, founded...

Columbus, Ohio-based closeout retailer Big Lots Slates Inc. has signed a lease to occupy a 34,700-square-foot building on Michigan Road vacated by grocer Cub Foods in 2001.(Real Estate)(Brief Article)
August 2, 2004... * Columbus, Ohio-based closeout retailer Big Lots Slates Inc. has signed a lease to occupy a 34,700-square-foot building on Michigan Road vacated by grocer Cub Foods in 2001. The store could open as soon as mid-October, said Big Lots...

The Urban Land Institute has named Indianapolis' Fall Creek Place one of 19 finalists for its 2004 Awards for Excellence.(Real Estate)(Brief Article)
August 2, 2004... * The Urban Land Institute has named Indianapolis' Fall Creek Place one of 19 finalists for its 2004 Awards for Excellence. The awards, recognized as one of the top accolades in the development industry, will be announced this fall at ULI's...

Cozy to make way for Cactus.(Retail)(Brief Article)
August 2, 2004... After more than 30 years as a downtown restaurant and nightspot, the Cozy Restaurant and Cocktail Lounge will close Monday, Aug. 9, following a sale to new owners. On Aug. 12, the restaurant at 20 N. Pennsylvania St., will reopen as the...

Dynaflex brings Canadian connectors into its fold.(Venture Capital)(Dynaflex Inc)(Brief Article)
August 2, 2004... Locally based Dynaflex Inc., a supplier of infrastructure products for the voice, data and video markets, has purchased Toronto, Ontario-based Stirling, a provider of wiring connectors. Terms of the deal were not disclosed. "Stirling's...

Locke Reynolds LLP.(Law)(Brief Article)
August 2, 2004... * Matt Harnish has joined Locke Reynolds LLP in business and construction litigation.

Klipsch Audio-Technologies.(Manufacturing)(Brief Article)
August 2, 2004... Tony Ostrom has joined Klipsch Audio-Technologies as a product specialist.

Cummins Inc.(Manufacturing)(Brief Article)
August 2, 2004... Georgia Nelson, Midwest Generation EME LLC, has been named to the board of Cummins Inc.

Great Lakes Superior Walls.(Manufacturing)(Brief Article)
August 2, 2004... Scott Clugston has been named director of sales, Indiana region, at Great Lakes Superior Walls.

Herff Jones Inc.(Manufacturing)(Brief Article)
August 2, 2004... Herff Jones Inc. has added the following: * Mark Brown, controller, Scholastic Sales and Marketing Division; * Preston Brown, operations assistant controller, Yearbook Division; and * Scott Black, sales assistant controller, Yearbook Division....

SPG Graphics Inc.(Printing/Publishing)(Brief Article)
August 2, 2004... * Robert Burger has joined SPG Graphics Inc. as pressroom manager.

Insurance Institute of Indiana.(Professional/Trade)(Brief Article)
August 2, 2004... Mike Chrysler has been promoted to assistant vice president of Government Affairs for the Insurance Institute of Indiana.

National Association of Attorneys General.(Professional/Trade)(Brief Article)
August 2, 2004... Attorney General Steve Carter has been elected president-elect of the National Association of Attorneys General.

Indy Saves.(Professional/Trade)(Brief Article)
August 2, 2004... Melissa Atkinson has joined Indy Saves as program coordinator.

Indiana Dental Association.(Professional/Trade)(Brief Article)
August 2, 2004... Dr. David N. Matthews, Fort Wayne, has been named president of the Indiana Dental Association.

Indiana Minority Health Coalition.(Professional/Trade)(Brief Article)
August 2, 2004... Nancy Jewell has been named president/CEO of the Indiana Minority Health Coalition.

American Society of Professional Estimators, Central Indiana chapter.(Professional/Trade)(Brief Article)
August 2, 2004... The American Society of Professional Estimators, Central Indiana chapter, has named the following board of directors: Tina Winterboer, Turner Construction, president; Gary Faust, Irving Materials, first vice president; Reed Mann, Summit...

Career College Association.(Professional/Trade)(Brief Article)
August 2, 2004... Joseph H. Davis, MedTech College, has been elected chairman of the board for the Career College Association.

International Association of Administrative Professionals, Indiana Division.(Professional/Trade)(Lisa Holderman)(Brief Article)
August 2, 2004... The International Association of Administrative Professional, Indiana Division, has named the following officers: Sally Biller, Metalworking Machinery Systems, Elkhart, president; Dawn Keyler, HNTB Corp., vice president; Denise Goveia, TeleData...

Indiana Energy Association.(Professional/Trade)(Brief Article)
August 2, 2004... * Stan Pinegar has joined the Indiana Energy Association as executive director.

Career Consultants/OiPartners.(Services)(Brief Article)
August 2, 2004... * Elaine Vocl has joined Career Consultants/ OiPartners as a senior consultant and coach.

SES.(Services)(Appointments)(Scientific and Engineering Software Inc.)(Melissa Cuny)(Brief Article)
August 2, 2004... SES has added the following: * Bobbi Samples, vice president, Safety and Health, * Michael Lawson and * Debbie Jerrolds, Safety and Health Compliance consultant, and * Melissa Cuny, administrative assistant.

Bradford-Scott Data Corp.(Services)(Jennifer Brinegar)(Brief Article)
August 2, 2004... David Horvath has joined Bradford-Scott Data Corp. as a medical systems account representative. Kim Berry has been named controller, and Chris Burton and Jennifer Brinegar have joined as medical systems trainers.

BoseTreacy Associates LLC.(Services)(Brief Article)
August 2, 2004... * Paul S. Mannweiler has been named a principal of BoseTreacy Associates LLC.

eGIX Inc.(Technology/Telecommunications)(Appointments)(Brief Article)
August 2, 2004... Whitney Frank has joined eGIX Inc. as a sales support trainer.

G3 Technology Partners.(Technology/Telecommunications)(Brief Article)
August 2, 2004... G3 Technology Partners has named the following majority co-owners: Peter DiPeola, president; Raymond Hoffman, vice president; and Jim Heckman, CFO.

Proposal calls for Pell Grant expansion; local group backs plan to give younger students more educational choice.(Employment/Education/Training)
August 2, 2004... In the eyes of Robert Enlow and members of the Milton and Rose D. Friedman Foundation, public education in today's society could benefit by taking cues from a system created in Virginia in 1779 by then-Gov. Thomas Jefferson. Jefferson, who...

The unconventional way: Nina scholarships help disadvantaged earn degrees.(Employment/Education/Training)
August 2, 2004... Michelle Poindexter said she had no doubt she would eventually finish college. Her biggest question was "how? She took classes as time allowed, fitting school into a schedule that already included a full-time job and preteen daughter. She...

State court backs liability for misleading references; HR experts urge caution when endorsing ex-employees.(Employment/Education/Training)(Multi-Management Services Inc)(Employee references)
August 2, 2004... A recent Indiana Supreme Court ruling regarding employee references may be a mixed bag for both employers and employees. The court's ruling, in Passmore vs. Multi-Management Services Inc., stated employers could be held liable for providing...

Largest Indianapolis-area temporary-employment services.(Employment/Education/Training)(Directory)(Illustration)
August 2, 2004... Largest Indianapolis-Area Temporary-Employment Services (Ranked by local hours billed in 2003) LOCAL HOURS BILLED: LOCAL ...

Largest Indiana Technical Education Programs.(Employment/Education/Training)(Directory)(Illustration)
August 2, 2004... Largest Indiana Technical Education Programs (Ranked by spring 2004 Indiana enrollment) SPRING 2004 INDIANA CITIES ...

Don't forget margin of safety when deciding what to buy.(Bulls & Bears)
August 2, 2004... We have said that investing is all about buying fractional interests, or shares, in companies at attractive prices. This leads to a tenet that, we believe, is the single most important factor to successful long-term investing--margin of safety....

Today's market is more complicated than it looks.(Investing)
August 2, 2004... As technology stocks have taken it on the chin lately, it might be time to get out the lifeboats for the SS NASDAQ. A rally should be developing at current levels, but if technology shares don't attract strong demand soon, the low-risk choice...

Role manufacturing plays is complex, ever-changing.(Economic Analysis)
August 2, 2004... If there's any state that understands manufacturing, it has to be Indiana. There's no other state in the country where the production of goods has a bigger slice of the economic pie. That was true 30 years ago, and it's true today. Yet in that...

Old National Bancorp.(Proxy Corner)
August 2, 2004... Old National Bancorp, 420 Main St., Evansville, 47708 (www.oldnational.com), is a multi-bank holding company operating in Indiana, Illinois and Kentucky. For the quarter ended March 31, the company reported net income of $19.5 million, or 29...

People's Burn Foundation of Indiana Inc.(Not-For-Profit Of Note)
August 2, 2004... 323 N. Delaware St., Indianapolis, IN 46204 Phone: 803-2876/fax: 685-2330 Web site: www.peoplesburnfoundation.org Founded: 1997 Paid employees: 2 Highest-paid staff member: Shawn Longerich, executive director, $60,000 Top volunteers: Sue...

Guidant turns in earnings increase; warns of job cuts.(IBJ daily)(J&J's Cordis Corp)(Brief Article)
August 2, 2004... Medical device maker Guidant Corp. reported on July 22 profit for the second quarter was $136 million, or 42 cents a share, compared with a loss of $82 million, or 27 cents a share, in the same quarter a year ago. Revenue increased to a...

Lilly 2nd-quarter sales up, profit down.(IBJ daily)(Ell Lilly and Co)(Brief Article)
August 2, 2004... Local drugmaker Ell Lilly and Co. July 22 said sales for the second quarter increased to $3.6 billion, up from $3.1 billion a year ago, but profit declined to $656.9 million, or 60 cents a share, from $692.2 million, or 64 cents a share, a year...

Cummins reports 2nd-quarter profit surge.(IBJ daily)(Brief Article)
August 2, 2004... Columbus-based engine manufacturer Cummins Inc. July 23 said second-quarter profit increased to $82 million, or $1.76 a share, from $14 million, or 34 cents a share, in the same period in 2003. Revenue increased to $2.1 billion, from $1.5...

Anthem reports higher 2nd-quarter earnings.(IBJ daily)(Brief Article)
August 2, 2004... Locally based insurer Anthem Inc. July 27 reported profit for the second quarter increased to $237.9 million, or $1.66 a share, from $177.3 million, or $1.25 a share, a year ago. Revenue jumped 12 percent, to $4.6 billion, as the company...

WellPoint 2nd-quarter profit increases.(IBJ daily)(Brief Article)
August 2, 2004... WellPoint Health Networks Inc., the Blue Cross Blue Shield insurer at the center of a controversy surrounding its planned acquisition by Anthem Inc., July 28 said profit for the second quarter increased to $299.9 million, or $1.86 a share, from...

Internet directory.(Calendar)
August 2, 2004... www.ibj.com COURIER/DELIVERY SERVICE * NOW COURIER We Deliver... and a whole lot more! 111 E. McCarty St., Indianapolis, IN 46225 (317) 638-7071 or (800) 543-6066 www.nowcourier.com E-mail dholliday@nowcourier.com * Offices in Fort...

[Your name here] could mean your name in court.(There Ought To Be A Law)(product liability for licensed products)
August 2, 2004... Next time your marketing department wants to put your company logo on a bunch of tchotchke giveaways, you'd better have your lawyers make sure you're not giving away the company in the process. In a case of first impression (that's legalese...

Casket maker creates handcrafted products: Anderson company one of state's fastest-growing firms.(Small Biz Profile)(C.J. Boots Casket Co)(hardwood caskets)
August 2, 2004... When Syracuse, N.Y.-based Marsellus Casket Co. closed last year, the company's niche in very-high-end wood caskets nearly ceased to exist. But with the help of entrepreneurs Chris Boots and Stephen Bourke, hardwood caskets with Marsellus'...

Calendar.(Records)(Calendar)
August 2, 2004... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. Aug. 2, 7-8:30 a.m.: Business & Professional Exchange, Career Networking, North chapter, St. Luke's United Methodist Church,...

Conventions.(Records)(Calendar)
August 2, 2004... July 25-July 28: American School Food Service Association, Indiana Convention Center & RCA Dome. Estimated attendance: 6,500. July 28-Aug. 7: American Bridge Association, Sheraton Indianapolis Hotel & Suites. Estimated attendance: 400. ...

Fund raising.(Records)(Capitol City Ford)(Coleman Adoption Services )(Crohn's & Colitis Foundation of America)(Brief Article)
August 2, 2004... Riley Hospital for Children to benefit from the Indianapolis Air Show, sponsored by Capitol City Ford, held at Mt. Comfort Airport from July 29 through Aug. 1. On July 29, the golf classic shotgun start at Winding Ridge Golf Club begins at 1...

In recognition.(Records)(Brief Article)
August 2, 2004... Thomas E. Wheeler II, of Locke Reynolds LLP, has been named recipient of the Burton Award for Legal Achievement. Small business advocacy group NFIB/Indiana presented the Small Business Champion award to Gail Piltz, owner of Comprehensive...

Mechanic's liens.(Records)(Calendar)
August 2, 2004... To: Wellingshire Joint Venture, 2201 W. Southport Road, $49,957 From: Edgewood Corp. of In. Recorded: June 15 To: Ashbury Build One, Wellingshire Joint Venture, $53,427 From: Acoustic Supply Inc. Recorded: June 16 To: Brylane LP, 2300...

Patents.(Records)(Official Gazette )(Brief Article)
August 2, 2004... From the April 27, 2004, Official Gazette of the U.S. Patent and Trademark Office. John P. Kresse, Martinsville; Jeffrey Kurt Runde, Fishers; Scott Thomas Kluemper, Kevin L. Kluemper, Monrovia Engine control method responsive to...

WFMS to sponsor Zup's Troops tickets.(Special season-ticket package)(Brief Article)
August 2, 2004... Local radio station WFMS-FM 95.5 is teaming with the Indianapolis Colts and a team vice president this season to offer a special season-ticket package. Fans who pony up $450 for the package will be a part of the WFMS Zup's Troops. The...

What's in a misnomer? A rose grown thorny.(Notions)
August 2, 2004... "What's in a name? That which we call a rose by any other word would smell as sweet."--William Shakespeare Call me old-fashioned, but I occasionally look up words in the dictionary. Sometimes, I'm seeking the most appropriate word for what...

Engineering executive is a self-taught piano man.(Profile: Roland Salman)
August 2, 2004... As a teen-ager growing up in Jerusalem, Roland Salman would earn tips and drinks from tourists while sitting in for the house act at a piano bar. Today, as the 41-year-old president of R.W. Armstrong & Associates Inc., Salman plays his own...

'Rivi' swimmer graced SI cover before Mount.(Sports Illustrated)(Riviera Swim Club)
August 2, 2004... Conventional wisdom among Hoosiers would be that the first high-schooler ever to appear on a Sports Illustrated cover was Lebanon's Rick Mount, who appeared--spit curl and all, cradling a basketball in front of a barn--on SI's cover in February...