Indianapolis Business Journal articles from August 2006

Indianapolis Business Journal archives from August 2006

Less fat, same flavor? Dow AgroSciences expects food industry to hunger for a healthier deep-fryer oil.
August 7, 2006... Guilt-free French fries? The golden-fried potato sticks might never top nutritionists' lists, but an Indianapolis company is hoping its product makes the quintessential American snack food a little easier to swallow for the diet-conscious. ...

Seeking a return to glory: once-thriving Noble Roman's cooks up ambitious plan for 157 pizza/sub shops.
August 7, 2006... Take one pizza chain with franchises in 44 states. Mix in a low-risk expansion featuring quick-service restaurants and sub sandwiches. Bake for three years. Noble Roman's Inc. executives think they've found the recipe to lift their...

Sheriff contemplating jail privatization: auditor says up to $6 million in annual savings might be found while easing overcrowding.(Marion County Jail)
August 7, 2006... In the overcrowded Marion County Jail, early release of dangerous inmates has become an unpleasant fact of life. To slow the tide, Sheriff Frank Anderson is considering a radical new solution: full privatization. "A lot of people have a...

IRL losing momentum again: after boost from Danica, racing league shows signs of stagnation as merger talks cool off.(Indy Racing League)
August 7, 2006... With the wheels falling off its most recent merger effort with rival Champ Car, industry observers are wondering if the Indy Racing League has blown its engine this time around. Smoke coming from the series' business model indicates it's...

Schmidt letting the sun shine in: architectural firm embraces solar panels, but few of its clients likely to follow suit.
August 7, 2006... The architectural firm Schmidt Associates Inc. wants to persuade clients to build greener buildings. So a couple of weeks ago--during a heat wave and under scorching sun, nonetheless--workers erected a solar-panel awning in front of the...

Still shakin' it up: for 36 years, family's prized lemon drinks have added zest to the Indiana State Fair.
August 7, 2006... Ever wonder about the secret behind those refreshing lemon shake-ups at the fair? There has to be more to the thirst-quenchers than lemons, water and sugary syrup, right? Veteran vendor Beverly Morgan insists the trick is all in the wrist....

Coastal cash flowed into tiny firm, yielding big payoff.(BEHIND THE NEWS)
August 7, 2006... Century Realty Trust is but a grain of sand in the universe of real estate companies. But within the last few years, the Indianapolis firm has caught the attention of investors on the coasts, and they're the richer for it. Now that Century...

Butler juniors to stay on campus next year: university wants to boost campus, fill apartments.
August 7, 2006... Butler University underclassmen got what some saw as very bad news last week: Starting in the fall of 2007, juniors--like freshmen and sophomores--will be required to live on campus. The university claims the new rule will make for a...

Gateway shuts the door on benefits enhancement; Indianapolis company will cease operations Aug. 30; CEO hopes to reopen.(Gateway Medical Resource Alliance)(chief executive officer)
August 7, 2006... Gateway Medical Resource Alliance, a niche health care benefits company, will shut down Aug. 30, more than a month after losing the lone Indianapolis hospital in its network. The company, which has shrunk to six workers, provides employers...

School races past capital campaign goal: University of Indianapolis raised $76 million in first-ever comprehensive funding drive.
August 7, 2006... When Michael Ferin took over the University of Indianapolis' fundraising operations in 1997, he inherited a limp effort ill-equipped to support exponential enrollment growth "The institution did not have a very strong record of reaching...

Bonds' shaky support threatens Crane biz park: region attempts to build on base's stay of execution.
August 7, 2006... During his first months in office, Gov. Mitch Daniels' top priority was engineering a stay of execution for the Crane Naval Surface Warfare Center, 90 miles southwest of Indianapolis. Losing its 5,200 employees and contractors would have been a...

Create-a-job program serving disabled threatened: federal funding cuts could mean early end for options available through customized employment initiative.
August 7, 2006... Bryan Ballard and Cody Feldman never dreamed they'd end up here, soaking up the sun along Indianapolis' downtown canal, peddling frozen treats from their very own ice cream cart. They certainly never planned to become business partners when...

Let's throw energy into public safety: we ignore crime at our peril.(EDITORIAL)(Editorial)
August 7, 2006... When yet another media story appears about jail over-crowding, it's tempting to look away, to focus instead on rising gas prices, out-of-control health insurance costs or other pressing problems confronting your company. But make no...

Orange County casino a losing bet?(Commentary)
August 7, 2006... I'm starting to get a bad feeling about the Orange County casino project. Truth be told, I've had the bad feeling for a long time, and now it's getting worse. The latest blip on the radar in what has been a challenged project from the...

Your eye-dentity is the key to our future.(EYE ON THE PIE)
August 7, 2006... By my calculations, the U.S. population will reach 300 million on or about Oct. 15. There is no need to specify the hour and minute. The population clock at the U.S. Bureau of the Census indicates that we are adding to our numbers at a rate...

Politicians are playing games with lives.
August 7, 2006... If you've been paying attention to the news lately, you probably know crime has been at a record high in Marion County. The homicide rate hasn't been this bad since the Backstreet Boys had a hit song. The year was 1998, by the way. In addition,...

Cable competition deserves support.(LETTERS)(Letter to the editor)
August 7, 2006... Your [July 24] editorial "Let free markets drive competition" surely struck a chord with business leaders and consumers alike. The beauty of competition is that it can bring down prices and inspire innovation for automobiles, real estate...

IMA seeks parking at Crown Hil project.(LETTERS)(Letter to the editor)
August 7, 2006... Jennifer Whitson's report ("Zoning battle in store," July 31) regarding the Crown Hill property sale and the Indianapolis Museum of Art's aesthetic interest in the planned development did not include the important fact that the IMA now seeks to...

AT&T making strides.(LETTERS)(Letter to the editor)
August 7, 2006... In the July 17 issue, economist Patrick Barkey asks [in his column] if Indiana's new telecom-reform law will spur investment in rural areas. To show why the answer is a resounding "yes," consider what has happened since House Bill 1279 passed....

Daniels helps state compete globally.(LETTERS)(Letter to the editor)
August 7, 2006... In a little more than one year, the Indiana Economic Development Corp. has posted some impressive wins, including an initial investment of $550 million in a Honda facility in Decatur County. This investment is expected to generate 2,000 jobs....

I choose Indy.(LETTERS)(Letter to the editor)
August 7, 2006... I was raised in Chicago, but, given a choice between Indy and Chicago, I choose Indy. Chicago is a great city, but Indy is where I choose to live, work and raise my family. * Indy is more affordable. The real estate prices in my...

Longtime hot dog 'king' launches revival.(ON THE BEAT)(King David Dogs)(Brief article)
August 7, 2006... In the early 1940s, brothers William and Paul Hene ran Hene Moat Co. at the corner of 15th Street and Capitol Avenue. Their firm supplied meat to smaller butcher shops and local grocery stores. They also developed a family recipe for a...

State malpractice fund doles out $53.5 million.(The Indiana Patients Compensation Fund )(Brief article)
August 7, 2006... The Indiana Patients' Compensation Fund paid $53.5 million last month on 84 malpractice cases for the first half of this year. The total represents a drop from the first half of 2005, when the fund set a record with a $58.8 million payout...

Daniels aide joins firm.(LAW)(Jason Barclay joins Barnos and Thornburg LLP's )(Brief article)
August 7, 2006... Jason Barclay, former special counsel and policy director for Gov. Mitch Daniels, has rejoined Barnos & Thornburg LLP's litigation department, where he will practice in the White Collar Crime Practice Group. Barclay, 30, who practiced at...

Indiana bleeding jobs through manufacturing.(MANUFACTURING)(Brief article)
August 7, 2006... A study released July 27 by the Brookings Institution's Metropolitan Policy Program shows that states in the Great Lakes region are bearing the brunt of U.S. manufacturing job losses. The Washington, D.C.-based Brookings Institute is one of the...

Center on Philanthropy chief makes national 'power' list.(Indiana University executive director Eugene Tempel makes his name in The NonProfit Times annual list)(Brief article)
August 7, 2006... Eugene Tempel is nine for nine. The NonProfit Times' annual list of the most powerful people in philanthropy came out last week, and his name was on it--as it has been since the national publication's "Power and Influence Top 50" started...

Downtown garage selling spots.(real estate)(Brief article)
August 7, 2006... The partnership behind a new six-story, $6.2 million parking garage at 120 E. Washington St. hung out its shingle this week near the new structure and is already getting calls to reserve the $110-per-month spots. Locally based Sideline...

Marian College revs up motorsports curriculum.(Marian College)(Brief article)
August 7, 2006... Marian College on Aug. 1 officially launched a business of motorsports curriculum at its northwest-side campus. As IBJ reported in July 2005, it piloted the program last year to gauge students' interest. Now the private college is gunning...

Indiana lags neighbors in biotech investment.(VENTURE CAPITAL)(Brief article)
August 7, 2006... Cleveland-based BioEnterprise released a report on Midwestern biotech venture capital activity for the first half of 2006. The news for Indiana wasn't good. The "Midwest Health Care Venture Investment Report" showed that health care...

Indiana Public Employees Retirement Fund.(VENTURE CAPITAL)(Brief article)
August 7, 2006... * Through its $105 million Indiana Investment Fund, the Indiana Public Employees Retirement Fund is actively pursuing venture capital investments inside state lines. But that doesn't stop PERF from pursuing spectacular returns elsewhere....

Largest Indianapolis-area retirement communities: (ranked by independent-living units).(Directory)(Table)
August 7, 2006... Largest Indianapolis-Area Retirement Communities (Ranked by independent-living units) INDEPENDENT- RENTAL LIVING UNITS: RANGE ...

Anthony Denger has joined Stock Yards Bank.(BANKING)
August 7, 2006... Anthony Denger has joined Stock Yards Bank as vice president, private banking group.

Mutual Savings Bank.(BANKING)
August 7, 2006... Lisa Jones has been promoted to vice president/mortgage loan manager at Mutual Savings Bank.

Charter One Bank.(BANKING)
August 7, 2006... Kevin C. Callahan has been promoted to vice president, senior instructional designer and project manager at Charter One Bank.

Erich Veigel has joined MJ insurance Inc.(INSURANCE)
August 7, 2006... Erich Veigel has joined MJ insurance Inc. as an employee benefits producer.

Stewart & Irwin PC.(LAW)
August 7, 2006... Stewart & Irwin PC has added the following associates: Michele L. Sullivan, medical malpractice defense and appellate matters, and Michael D. Wilhelm, general civil litigation.

James Winner has joined the labor & employment law department at Barnes & Thornburg LLP, and Scott Murray has joined the litigation department.(appointments)(Brief article)
August 7, 2006... James Winner has joined the labor & employment law department at Barnes & Thornburg LLP, and Scott Murray has joined the litigation department. Jason Barclay has re-joined the litigation department.

Plews Shadley Racher & Braun.(LAW)
August 7, 2006... Curt DeVoe has been named managing partner for Plews Shadley Racher & Braun.

Sonny Scaffolds Inc.(MANUFACTURING)
August 7, 2006... Robert P. Unterbornhas been named assistant controller at Sonny Scaffolds Inc.

Indianapolis Association of Health Underwriters.(appointments)(Brief article)
August 7, 2006... Indianapolis Association of Health Underwriters has named the following officers: Anita Strauss, Frye Brokerage, president; Roger Fisher, president elect; Norm Springer, immediate past president, Westfield; Beth Pastotnik, vice president;...

Kappa Delta Pi, International Honor Society.(PROFESSIONAL/TRADE)
August 7, 2006... Pamela K. Buckley has been named executive director of Kappa Delta Pi, International Honor Society.

McNamara LLC.(RETAIL)
August 7, 2006... Diana J. Eller has been promoted to floral specialist by McNamara LLC.

Indianapolis Motor Speedway.(appointments)(Brief article)
August 7, 2006... The Indianapolis Motor Speedwayhas promoted the following: Lynn Greggs, director of accounting compliance, and Theresa Jasper, human resources manager. Ron Galle has joined as director of finance and accounting.

Indiana Sports Corp.(SPORTS)
August 7, 2006... Indiana Sports Corp. has added the following: John Dedman, director of communications; Aaron Eubank, account manager, ticket and sponsorship sales; and Marcus Fischer, membership manager.

Beth Allread has joined Dugdale Communications Inc. as the executive Brenda Carrasquillo.(TECHNOLOGY/TELECOMMUNICATIONS)
August 7, 2006... Beth Allread has joined Dugdale Communications Inc. as the executive Brenda Carrasquillo has joined as a project manager.

Andrew Boice, Jim Chen and Matt Streicher have joined Indesign.(TECHNOLOGY/TELECOMMUNICATIONS)
August 7, 2006... Andrew Boice, Jim Chen and Matt Streicher have joined Indesign as electrical engineers.

n/Frame.(TECHNOLOGY/TELECOMMUNICATIONS)
August 7, 2006... Eric Miller was promoted to vice president of sales for n|Frame.

Toby D. Pearcy has joined Integrated Mobile Inc.(TECHNOLOGY/TELECOMMUNICATIONS)
August 7, 2006... Toby D. Pearcy has joined Integrated Mobile Inc. as vice president of service delivery.

Verizon Wireless.(TECHNOLOGY/TELECOMMUNICATIONS)
August 7, 2006... Ajay Waghray has been named vice president and chief information officer for the Midwest area, Verizon Wireless.

Insurers still dealing with deluge of claims: Good Friday storms among costliest in state history.(Focus: INSURANCE & BENEFITS QUARTERLY)
August 7, 2006... Property and casualty insurers are taking a financial beating over the spring hailstorm that pounded homes and vehicles in central Indiana. Damage from the Good Friday deluge resulted in a flood of Hoosier insurance claims: 177,000 so far...

New state rule changes annuity landscape: Indiana regulators place burden on the seller to decide what's right for the buyer.(Focus: INSURANCE & BENEFITS QUARTERLY)
August 7, 2006... No 75-year-old retiree should drop his or her life savings into an annuity that imposes a 10-year wait before the first payment. Indiana regulators understand this basic investment rule, and they want to ensure that the people who sell...

WellPoint putting members' medical records online: access to electronic medical information could reduce health care errrors and avoid unneccesary procedures.(FOCUS / INSURANCE & BENEFITS QUARTERLY)
August 7, 2006... A benefits package WellPoint Inc. unveiled in July includes an ambitious effort that enables its 34 million members to access their medical records online. WellPoint's initiative to make the records available electronically is but one...

Settlement costs Conseco $100m.(Conseco Inc a insurance company settlement charge $100.3 to settle lawsuits)(Brief article)
August 7, 2006... Conseco Inc., a Carmel-based life insurance company, will charge $100.3 million against earnings to settle lawsuits claiming it improperly raised premiums on some policies, the company said. "Implementation of this settlement will resolve a...

Medicare program gives drug firms a boost in sales.(FOCUS / INSURANCE & BENEFITS QUARTERLY)
August 7, 2006... The new drug benefit of the U.S. Medicare program for the elderly appears to be helping pharmaceutical company sales and earnings, the Wall Street Journal online edition reported. Since taking effect in January, 38 million of Medicare's 43...

Medicare seeking doctor measure.(FOCUS / INSURANCE & BENEFITS QUARTERLY)(Brief article)
August 7, 2006... The Medicare federal health plan will back changes to how doctors are paid only if an overhaul includes ways to measure the quality of treatment, the head of the program said. "We need to improve the payment system to get better quality...

Investors have new tools to soften market whiplash.(BULLS & BEARS)
August 7, 2006... Being a super-bear or super-bull just got a lot easier and cheaper. Until the last few weeks, if you had been bearish on the market and wanted to profit from that bearishness, you only had a few ways to play it. One was to short an...

Lessons to draw from the new slide in transport stocks.(INVESTING)
August 7, 2006... One of the staples of a bear market is the futile attempt investors make to rationalize why they are staying invested. (This happens, of course, until it is far too late to do anything about remaining in the market). After the June 14...

U.S. economy slowing, but still showing vitality.(ECONOMIC ANALYSIS)
August 7, 2006... By the demanding standards of recent history, the just-completed second quarter was a tough one for the U.S. economy. The Bureau of Economic Analysis reported an annualized growth rate of just 2.5 percent in the overall economy in the...

Franklin Electric Co. Inc.(financial report)(Financial report)
August 7, 2006... Franklin Electric Co. Inc., 400 E. Spring St., Bluffton, 46714 (www.fele.com) designs, manufactures and distributes electric motors, electronic motor controls and related equipment. For the quarter ended July 1, the company reported net income...

Marsh says it can't consider suitor's higher offer.(Stories reported in IBJ daily: Thurs., July 27-Wed., Aug. 2.)
August 7, 2006... Marsh Supermarkets Inc. late Aug. 2 said a judge had ruled that it can't consider a $108-million buyout proposal from an investment partnership because doing so would violate the agreement it signed in May to sell to Boca Raton, Fla.-based Sun...

Oak Street Funding raises $250m.(Stories reported in IBJ daily: Thurs., July 27-Wed., Aug. 2.)
August 7, 2006... Carmel-based Oak Street Funding LLC has raised more than $250 million through loans from Germany-based DZ Bank AG and Boston-based NewStar Financial. Oak Street obtained the funds to "satisfy expected growth for the next couple of years," said...

Katz Sapper forms unit to advise trucking industry.(Stories reported in IBJ daily: Thurs., July 27-Wed., Aug. 2.)
August 7, 2006... Local accounting firm Katz Sapper & Miller LLP is partnering with Knoxville, Tenn.-based CFOex Inc. to form a unit that will advise the transportation industry on mergers and acquisitions. CFOex founder Bruce Jones will head the unit, which...

Standard Management, lender reach agreement.(Standard Management Corp reaches deal with Rainier Home Health Care Pharmacy Inc)(Brief article)
August 7, 2006... Standard Management Corp. has reached an oral agreement with shareholders of Seattle-based Rainier Home Health Care Pharmacy Inc. to pay off a $2.8 million loan the Indianapolis company used to buy the pharmacy a year ago. Details of the...

Internet directory.(Directory)
August 7, 2006... ADAPTIVE SYSTEMS, INC. Client/Server & Internet Software Solutions (317) 776-8822 www.adaptivesys.com E-mail: sales@adaptivesys.com Exploiting the full strategic potential of the internet begins with choosing the right...

Family Dental Innovations.(ANNOUNCEMENTS)
August 7, 2006... Drs. Jeremy and Kara Friedman, DDS, Noblesville, have opened Family Dental Innovalions at 16000 Prosperity Drive, just off the intersection of State Road 37 and Greenfield Avenue in Noblesville. Contact www.familydentalinnovations.com or call...

New Horizon Credit Inc.(BANKRUPTCIES)
August 7, 2006... New Horizon Credit Inc., 6340 Castle Place Drive, 46250. Chapter 7 liquidation. Assets: n/a; liabilities: n/a.

New Albany Hospitality Inc.(BANKRUPTCIES)
August 7, 2006... New Albany Hospitality Inc., 2346 S. Lynhurst Drive, No. C201E, 46241. Chapter 7 liquidation. Assets: n/a; liabilities: n/a.

Calendar.(RECORDS)(Calendar)
August 7, 2006... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. Aug. 7, 7 a.m.: Business & Professional Exchange, Career Networking, North chapter, St. Luke's United Methodist Church, Fellowship...

Conventions.
August 7, 2006... Aug. 10-Aug. 13, Gen Con the Best Four Days In Gaming, Indiana Convention Center & RCA Dome. Estimated attendance: 25,000 Aug. 12-Aug. 13, Mid-America Association of Educational Opportunity Program Personnel, Sheraton Indianapolis Hotel &...

Community Home Health Services and Community Hospital East Regional Cancer Center.(FUND RAISING)
August 7, 2006... Community Home Health Services and Community Hospital East Regional Cancer Center to benefit from Community Hospitals Foundation 15th annual house raffle. Tickets on sale now through Aug. 11. Contact 355-HOME or eCommunity.com/foundation.

Dress for Success Indianapolis.(FUND RAISING)
August 7, 2006... Dress for Success Indianapolis to benefit from $2 to $20. For every retail drop-off or home pick up and delivery dry cleaning order of $20 or more for Classic Cleaners in the month of August, they will donate $2. See classiccleaners.net.

United Cerebral Palsy Association of Greater Indiana.(FUND RAISING)
August 7, 2006... United Cerebral Palsy Association of Greater Indiana to benefit from the Women's Heart Advantage Golf Classic on Aug. 7 at Coffin Golf Course. All-women tournament to begin at 8 a.m. Registration: $75. Contact Donna Roberts at 632-3561 or...

Wishard Health Services.(FUND RAISING)
August 7, 2006... Wishard Health Services to benefit from fifth annual televised fund drive on Aug. 9 at 7 p.m. on WTHR- Channel 13. Call 630-6502 to contribute.

Special Olympics Indiana.(FUND RAISING)
August 7, 2006... Special Olympics Indiana to benefit from the FedEx Plane Pull Challenge on Aug. 12 at the Indianapolis International Airport. Teams must raise at least $1,000 to compete in a 12-foot pull of a Boeing 727 in the shortest amount of time. Contact...

Ambassadors for Children.(FUND RAISING)
August 7, 2006... Ambassadors for Children to benefit from Passport Celebration at Oakhill Mansion on Aug. 13 from 2-7 p.m. Contact ambassadorsforchildren.org or 536-0250.

Change 4 Kids Baby Bottle Campaign.(FUND-RAISING RESULTS)
August 7, 2006... Change 4 Kids Baby Bottle Campaign raised $2,700 for needy children in June.

Riverview Memorial Foundation Heartfelt Thanks.(FUND-RAISING RESULTS)
August 7, 2006... Riverview Memorial Foundation Heartfelt Thanks golf tournament raised $77,000 for the foundation.

Indianapolis nonprofits.(FUND-RAISING RESULTS)
August 7, 2006... Indianapolis nonprofits to receive $13,880 raised by summer associates from law firms around the city.

University of Indianapolis.(GRANTS)
August 7, 2006... University of Indianapolis has been awarded $68,000 grant from the Library Fund of the Indianapolis Foundation to renovate Krannert Memorial Library.

Indianapolis Museum of Art.(GRANTS)
August 7, 2006... Indianapolis Museum of Art to receive $11 million grant from Richard M. Fairbanks Foundation for the IMA Virginia B. Fairbanks Art & Nature Park.

Nina Mason Pulliam Charitable Trust.(GRANTS)
August 7, 2006... Nina Mason Pulliam Charitable Trust to award twenty nine Indiana not-for profit organizations part of a $2,628,400 grant

Lumina Foundation for Education.(donations to Indiana Dollars for Scholars, Indiana Grantmakers Alliance and Indiana International Science Fair)(Brief article)
August 7, 2006... Lumina Foundation for Education awarded the following: Habitat for Humanity of Greater Indianapolis $60,000 IARCAA Institute for Excellence Inc. $32,000 Indiana Dollars for Scholars $198,400 Indiana Grantmakers Alliance $79,700...

Central Indiana Women's Business Center.(GRANTS)
August 7, 2006... Central Indiana Women's Business Center is to receive $150,000 from U.S. Small Business Administration.

City of Carmel.(IN RECOGNITION)
August 7, 2006... City of Carmel received an honorable mention in the 2006 City Livability Awards Program, sponsored by the U.S. Conference of Mayors and Waste Management.