Indianapolis Business Journal articles from February 2004

Indianapolis Business Journal archives from February 2004

Ex-CEO target of Jet lawsuit: credit union accuses recently retired exec of more than $1 million in financial misdeeds.
February 2, 2004... John V. Loudermilk had served as CEO of Indianapolis-based Jet Credit Union for 42 years when he retired in August. The board sent him off with a pat on the back and a $661,000 retirement package. But now Jet says it has discovered that...

Butler TV attracts suitors: '6 or 7' local, national parties interested in purchasing station.
February 2, 2004... Butler University has hired a media broker to find a buyer for its public television station, but by all accounts, he won't have to look far. Non-commercial stations offered for sale in the past couple of years have not exactly languished...

IPALCO probe doesn't clear all: ex-directors, execs remain in Rokita's ongoing investigation.
February 2, 2004... While Secretary of State Todd Rokita has cleared six former non-employee directors of IPALCO Enterprises Inc. of any wrongdoing related to a criminal investigation, he isn't discussing the status of seven other former non-employee directors....

Hostel owners want travelers to wander in: Gypsy Crib adds new lodging choice in Indianapolis.
February 2, 2004... Some may call it a hostel takeover. But the ongoing transformation of an 80-year-old Meridian Kessler house into Indianapolis' first communal inn has been anything but hostile. "Everyone has been very encouraging," said Kurt...

Simon eyeing Duke building: downtown may be fighting uphill battle to keep HQ.(Indianapolis Historic Preservation Commission)
February 2, 2004... As Mayor Bart Peterson's office works feverishly to keep Simon Property Group Inc.'s headquarters downtown, speculation has shifted to the north-side Keystone at the Crossing, seen as the mall owner's chief alternative to new downtown...

Blue Nation giving rise to Colts sales: increased interest in season tickets and sponsorships follows recent playoff success.
February 2, 2004... The Indianapolis Colts plan to use their on-field resurgence to return them to their financial glory days as well. It's unlikely the Colts next season will revisit those mid-'80s days when nearly every seat sold as a season ticket, but...

Tech firm tosses raft to holders of underwater options.
February 2, 2004... The Indianapolis-based software company Interactive Intelligence Inc.'s shares debuted in 1999 at $13 each and rocketed as high as $50 before the technology-bubble burst and the shares tumbled. The company today is still reporting losses,...

Union contractors bid for Circle Block work: project labor agreement locks out merit shops.
February 2, 2004... Contractors who build the Conrad Hotel will earn most of the $93 million earmarked for the high-profile project. But thanks to a project labor agreement popular with other civic endeavors, nonunion contractors need not apply for a piece of the...

Mega-mergers shake up local bank market: creative community banks anticipate opportunity.
February 2, 2004... The year is still young, but a pair of mega-mergers has already shaken up the Indianapolis bank market. Architects of both deals promise their retail bank customers will receive topnotch customer service backed by vastly enhanced financial...

Seven-story building proposed for Mass. Ave. flatiron building would house condos, retail.
February 2, 2004... Owners of land at the corner of Massachusetts and College avenues have put the finishing touches on long-standing plans to bring condominiums and additional retail to the Chatham Arch corner. Indy Ventures, a partnership headed by Joe...

Johnson Memorial sorts out future: county leaders want a task force to determine the value of the hospital.
February 2, 2004... A multimillion-dollar leasing offer from a Tennessee company has prompted Johnson County leaders to take a deep look into the future of a long-standing Franklin institution, Johnson Memorial Hospital. That look has been clouded so far by a...

Children's Bureau resurrecting teen-parenting program: idle for a year, day care and support services resume this month at former location on near-west side.
February 2, 2004... Children's Bureau Inc. is coming to the rescue of a teen-parenting program that closed last year because of financial problems. The Vivian Smith Teen Parenting Program, which provided child care and support so young mothers could stay in...

Rokita's decision smacks of politics: leave prosecution to others.(Editorial)
February 2, 2004... Time will tell the real story behind insiders' sale of IPALCO Enterprises Inc. shares after the local utility was sold to AES Corp. But Republican Secretary of State Todd Rokita's sloppy handling of the announcement exonerating Republican...

Unify open-wheel racing.(Brief Article)(Editorial)
February 2, 2004... For employees of bankrupt CART teams and those associated with Open Wheel Racing Series, Judge Frank Otte's decision to bet on the come in rejecting the Indy Racing League's much higher bid for CART's assets is reason for joy. They'll keep...

Lessons learned at Ninth and Senate.(a son remembers working at his fathers scrap yard)(Column)
February 2, 2004... "If you can't stop in, smile as you go by." This kind request graced the fence enclosing the salvage yard known as Maurer Brothers Auto Parts at Ninth Street and Senate Avenue. The proprietors or tins business, later renamed Wrecks...

Hoosier scofflaws contribute to deficit.(tax law)
February 2, 2004... Gov. Joe Kernan spoke to the annual meeting of the Indiana Fiscal Policy Institute last week. The audience included Supreme Court justices, members of the General Assembly, business executives and a variety of well-known citizens representing...

Good bus system benefits all of us.(Column)
February 2, 2004... Indianapolis is a community with a reputation for taking on difficult challenges and effecting successful outcomes. However, to date we have failed to tap into that reservoir of energy and commitment to effectively address our ailing bus...

Indiana needs DST.(Letter to the Editor)
February 2, 2004... It is absurd that Indiana lives as an island unto itself when it comes to an issue as important as time zones. In our distribution industry, the No. 1 question we are asked on a daily basis is, "What time is it there now?" We have 180...

Reporting paid off.(Letter to the Editor)
February 2, 2004... Great story on the [Jan. 26] Conner Prairie-Earlham College dispute. [Reporter Andrea Davis] really encapsulated the time/place/situation elements of the story into an interesting and dramatic narrative. Your story also shows that you...

Smoking is bad, but cigar rolling is OK?(Letter to the Editor)
February 2, 2004... I agree with [Mickey Maurer's Jan. 19 column] that our City-County Council and our mayor should demonstrate leadership by enacting a smoking ban in public places. It is important for all community leaders to do what they can in this regard. ...

Business plays defense in Statehouse as session unwinds.(Column)
February 2, 2004... The minimalist State of the State address delivered last month by Gov. Joe Kernan caught lawmakers by surprise. So did a series of Kernan administration measures that popped up a few weeks into the session that suggested a more aggressive...

ISM opens Chicano exhibits.(Indiana State Museum)(Brief Article)
February 2, 2004... The weekend opening of dual Chicano exhibits at the Indiana State Museum brought movie star Cheech Marin to Indianapolis and the works of several Chicano artists to the downtown museum. The exhibits, sponsored by Minnesota-based Target...

State sets new transplant record.(Indiana)(Brief Article)
February 2, 2004... Indiana hospitals broke a year-old record in 2003 by performing 505 organ transplants using 156 in-state organ donors, according to the Indiana Organ Procurement Organization Inc. Last year's totals topped the 2002 marks of 444 transplants...

Creditors owed $1.8 million.(Brief Article)
February 2, 2004... The former Leagre Chandler & Millard LLP law firm owes more than $1.8 million to unsecured creditors, including roughly $1.1 million to six lawyers who were once firm partners, according to U.S. Bankruptcy Court documents. But it's...

Anthem CEO invests in education.(cheif executive officer, Larry Glasscock)(Brief Article)
February 2, 2004... Larry Glasscock wants to offer others the chance to accomplish what he has. The president and CEO of Indianapolis-based Anthem Inc., Glasscock hails from humble beginnings, One of seven children, he worked full-time in high school to help...

Bike-wheel maker strikes 2 deals.(Capital Shopping Centres, Phonak Cycling Team, Zipp Speed Weaponry)
February 2, 2004... Zipp Speed Weaponry, the local manufacturer of high-end bicycle wheels, recently agreed to supply its product to a team that promises to contend in the Tour de France and to a rider in the upcoming Athens Olympic Games. Early this year,...

Indy native makes it in Hollywood.(Indianapolis)(Brief Article)
February 2, 2004... Warren Central High School graduate Ryan Murphy is gearing up for the second season of "Nip/Tuck" the Golden Globe-nominated television show he writes, directs and produces. His schedule has been too busy to fit in a chat with IBJ, but mom...

After five months as a consultant for Weiss Communications, former Indianapolis Woman Editor Donna Mullinix is striking out on her own.(Brief Article)
February 2, 2004... * After five months as a consultant for Weiss Communications, former Indianapolis Woman Editor Donna Mullinix is striking out on her own. Mullinix began offering her writing, editing and consulting services last month as Words Woman. The...

The Indianapolis Star.(hired Philadelphia Inquirer veteran Neill Borowski as its assistant managing editor)(Brief Article)
February 2, 2004... * The Indianapolis Star has hired Philadelphia Inquirer veteran Neill Borowski as its assistant managing editor for local news. He is scheduled to start work Feb. 23. A member of the Inquirer staff since 1983, Borowski founded its...

MIBOR elects first builder to board of directors.(Metropolitan Indianapolis Board of Realtors)(Brief Article)
February 2, 2004... Following a 2-1/2-year process requiring a change in its bylaws, the Metropolitan Indianapolis Board of Realtors last month installed the first builder on its board of directors. Curt Albertin, director of sales and marketing for locally...

Indy ranked 19th for biotech.(Indianapolis)(Brief Article)
February 2, 2004... Citing a June 2003 report from the Washington, D.C.-based Brookings Institution, Business Facilities magazine ranked the top 40 U.S. locations for biotechnology. Indianapolis placed 19th. The Brookings Institution study, titled "Signs of...

Institute recognizes IPL for efforts during hurricane.(Edison Electric Institute awarded Indianapolis Power & Light Co.)(Brief Article)
February 2, 2004... The Edison Electric Institute awarded Indianapolis Power & Light Co. its "Emergency Assistance Award" for helping to restore electric service to customers left without power in the wake of Hurricane Isabel last September. Given annually to...

Centerfield Capital invests in scaffolding-maker.(Brief Article)
February 2, 2004... Indianapolis-based Centerfield Capital Partners announced its purchase of Archbold, Ohio-based scaffolding systems manufacturer Bil-Jax Inc. from Plettenberg, Germany-based plettac AG. Terms of the deal were not disclosed. Centerfield...

Wabash National to hire 300 people.(Brief Article)
February 2, 2004... Wabash National Corp. announced today that December orders exceeded 8,000 units, or about 26 percent of the total net orders received by the trailer industry, as reported Columbus-based ACT Research Co. LLC. Lafayette-based Wabash National...

BKD LLP.(Accounting)(Mike Turpin promoted)(Brief Article)
February 2, 2004... Mike Turpin has been promoted to supervisor at BKD LLP.

Bradley & Associates Inc.(Accounting)(promotions)(Brief Article)
February 2, 2004... Bradley & Associates Inc. has promoted the following: Eric Busch, supervisor; and Renee Colin, Brian Jackson and Eric Neidig, seniors.

Heaton & Eadie.(Accounting)(David A. Burnett appointed)(Brief Article)
February 2, 2004... * David A. Burnett has joined Heaton & Eadie as a staff accountant.

MSKTD & Associates Inc.(Architecture/Design/Engineering)(Michael F. Garringer appointed)(Brief Article)
February 2, 2004... * Michael F. Garringer has joined MSKTD & Associates Inc. as project architect.

Civil & Environmental Consultants Inc.(Architecture/Design/Engineering)(Brian Cross appointed)(Brief Article)
February 2, 2004... Brian Cross has joined Civil & Environmental Consultants Inc. as a project manager.

Process Plus.(Architecture/Design/Engineering)(Daniel T. Prickel appointed)(Brief Article)
February 2, 2004... * Daniel T. Prickel has been named president of Process Plus.

National City Bank.(Banking)(appointments)(Brief Article)
February 2, 2004... National City Bank has added the following vice presidents, Small Business Banking: * Dawn L. Morris, * Marcia K. Lynch, * Yvonne J. McWhirter and * Lisa J. Kibbe,

Union Savings Bank.(Banking)(Michael G. Brown appointed)(Brief Article)
February 2, 2004... * Michael G. Brown has joined Union Savings Bank as senior loan officer.

Union Federal Bank of Indianapolis.(Banking)(Doug H. Strott appointed)(Brief Article)
February 2, 2004... * Doug H. Strott has been named manager, Investment & Trust Services, Union Federal Bank of Indianapolis.

Ballet Internationale.(Civic/Not-For-Profit)(Amy Wright appointed )(Brief Article)
February 2, 2004... Amy Wright, Dann Pecar Newman & Kleiman P.C., has been named president of the Associates Board of Ballet Internationale.

Indianapolis Downtown Inc.(Civic/Not-For-Profit)(appointments)(Brief Article)
February 2, 2004... Indianapolis Downtown Inc. has promoted the following: Terry Sweeney, vice president, real estate development; Nicole Roberts, real estate development manager; and Laura Hulen, beautification coordinator.

Indiana Child Care Fund.(Civic/Not-For-Profit)(Kay Harmless appointed)(Brief Article)
February 2, 2004... Kay Harmless has been named to the board of the Indiana Child Care Fund.

St. Mary's Child Center.(Civic/Not-For-Profit)(appointments)(Brief Article)
February 2, 2004... St. Mary's Child Center has elected the following officers: Bob Koehne, Business Furniture Corp., president; Anthony Najem, Meyer Najem Corp., vice president; Doug Brown, Stewart & Irwn P.C., secretary; and John Lienhart, London Witte & Co.,...

Attain.(Civic/Not-For-Profit)(Emily Dean appointed)(Brief Article)
February 2, 2004... * Emily Dean has joined Attain as the director of Education.

ITT Educational Services Inc.(Education)(Brief Article)
February 2, 2004... Nina Esbin has been promoted to senior vice president of Human Resources for ITT Educational Services Inc. Martin M. Van Buren has joined as vice president of Information Technology.

Butler University.(Education)(Brief Article)
February 2, 2004... * Steven Stolen has been promoted to executive director of major gifts and campaign programs at Butler University.

David A. Noyes & Co.(Finance)(Brief Article)
February 2, 2004... Charles H. Garrido Jr. has been named senior vice president, Investments, and shareholder at David A. Noyes & Co.

Aldebaran Capital LLC.(Finance)(Brief Article)
February 2, 2004... * Richard M. Rockwood has joined Aldebaran Capital LLC as a research analyst.

Axia Advisory Corp.(Finance)(Brief Article)
February 2, 2004... Katherine Egan has joined Axia Advisory Corp. as vice president of Marketing & Communications.

Irwin Mortgage Corp.(Finance)(Brief Article)
February 2, 2004... Lisa Cowan Hawkins has been promoted to assistant vice president, Information Technology Strategy, at Irwin Mortgage Corp.

City Securities Corp.(Finance)(Brief Article)
February 2, 2004... Kelly L. Hill has joined City Securities Corp. as a public finance banking associate.

Oak Street Mortgage.(Finance)(Brief Article)
February 2, 2004... Jeff Reinoehl has joined Oak Street Mortgage as regional manager, Northeastern Retail Sales Region. Ed Waller has joined as director of Corresponding Lending.

Women's Health Partnership PC.(Health Care)(Brief Article)
February 2, 2004... Women's Health Partnership PC. has added the following doctors: Scott D. Bowers, Jeanette E. McDonald, Veronica J. Smidt and Thomas C. Wisler.

St. Vincent Pediatric Rehabilitation Center.(Health Care)(Brief Article)
February 2, 2004... * Dr. Shivika Jain has joined St. Vincent Pediatric Rehabilitation Center as the hospital's board certified, attending pediatrician.

Mututal of Omaha.(Insurance)(Brief Article)
February 2, 2004... Kevin LaMar has joined Mututal of Omaha as a retirement plans sales manager.

Amica Mutual Insurance Co.(Insurance)(Brief Article)
February 2, 2004... * Michael T. McKnight, Fishers, has been named branch manager in Amica Mutual Insurance Co., Indianapolis office.

Noblesville.(James M. O'Connor has been named branch sales manager in Noblesville Casting Inc.)(Brief Article)
February 2, 2004... * James M. O'Connor, Noblesville, has been named branch sales manager.

Firm makes rare move with naming deal: Krieg DeVault's agreement with Conseco Fieldhouse may be sign of things to come for competitive law firms.
February 2, 2004... Stanley Kahn is notorious in the city's legal community for his brazen advertisements touting the judgments he wins for accident victims. For better or worse, Kahn was at the forefront of lawyer advertising when he began promoting himself...

Legal community promotes pro bono work: initiatives urge more attorneys to volunteer their time.
February 2, 2004... Many local attorneys volunteer their services to people who cannot afford them, but some involved in Indiana's pro bono legal programs say more can be done. Pro bono clients typically are people who are 125 percent below poverty level,...

Judge makes billion-dollar patent ruling.(Lemelson Medical, Education & Research Foundation)(Brief Article)
February 2, 2004... U.S. companies may save as much as $1 billion in royalty fees after a federal judge in Las Vegas threw out patents for technology to scan product pricing codes, the lead attorney who won the case said. Jesse Jenner, who represents scanner...

Nominees sought for ABA award.(American Bar Association)(Brief Article)
February 2, 2004... The American Bar Association is accepting nominations for the 14th Annual E. Smythe Gambrell Professionalism Awards. The honors recognize law schools, bar associations, law firms and not-for profit organizations for projects encouraging...

Small stocks, on a tear, may lose edge in market.(Column)
February 2, 2004... Editor's Note: Bob Auer's column will resume soon. Chet Currier is a Bloomberg News columnist. His opinions are his own. Which is the better investment--big stocks or small stocks? Racy growth or staid value stocks? Investors used to...

Sector rotation leads to gains as economy improves.(Column)
February 2, 2004... OK, everybody rotate ! One of the tools a bull market uses to stay healthy is the fairly rapid movement from one sector of file economy to another. In early November, energy stocks were at the top of the relative strength hill, which...

Indiana's jobs dichotomy colors unemployment report.(Economic Analysis)
February 2, 2004... The Indiana economy experienced its third consecutive year of employment decline in 2003, according to figures on payroll employment at business establishments released by the Department of Workforce Development. While the monthly employment...

Navistar International Corp.(shares)
February 2, 2004... Navistar International Corp., 4201 Winfield Road, Warrenville, Ill., 60555 (www.navistar.com) manufactures and markets medium and heavy duty trucks, school buses, diesel engines and service parts. It has an engine plant in Indianapolis that...

American Lung Association of Indiana Inc.(management)(Company Profile)
February 2, 2004... 9445 Delegates Row Indianapolis, IN 46240-3805 Phone: 573-3900/fax: 573-3090 Web site: www.lungin.org Founded: 1904 Paid employees: 15 Highest-paid staff member: John Graydon Smith, president/CEO, $90,000 Top...

Obsidian makes merger effort.(Obsidian Enterprises Inc.-Net Perceptions Inc.)(Brief Article)
February 2, 2004... Locally based holding company Obsidian Enterprises Inc. announced Jan. 21 it has formally submitted a proposal to acquire all the equity of Minnesota-based software company Net Perceptions. The deal, valued at about $11 million, would give...

Union Planters merging with Regions Financial.(Brief Article)
February 2, 2004... Memphis, Tenn.-based Union Planters Corp. announced Jan. 23 it had signed a merger agreement with Birmingham, Ala.-based banking company Regions Financial Corp. in a deal that will create the 12th-largest banking company in the country. ...

Guidant agrees to acquire California company.(AFx Inc.)(Brief Article)
February 2, 2004... Guidant Corp., a locally based maker of stents, defibrillators and other products used in the treatment of cardiac and other vascular diseases, has agreed to purchase AFx Inc., a privately held manufacturer of minimally invasive microwave used...

Sporting goods store, more coming to Washington Square.(Brief Article)
February 2, 2004... Officials with Simon Property Group Inc. and Mayor Bait Peterson announced Jan. 28 that Kerasotes ShowPlace Theatres and Dick's Sporting Goods are coming to Washington Square Mall. Kerasotes ShowPlace Theatres LLC, a Chicago-based movie...

Robotics integrator acquires Tennessee distributor, relocates.(Ritchie Automation Inc.)(Brief Article)
February 2, 2004... Ritchie Automation Inc., a local company that integrates robotic painting systems for manufacturing companies, has joined forces with a former industry executive to purchase a Tennessee distributor in a move that will put the company among the...

Internet directory.(Directory)
February 2, 2004... COMPUTER SALES & SERVICE * COMPUTER & DATA SERVICES Matthew E. Roberts, LLC (317) 485-6638 300 N. Meridian, Suite 200A, Indianapolis, IN 46204 www.matthewroberts.com E-mail: info@matthewroberts.com Trained,...

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

Conventions.(Records)(Brief Article)(Calendar)
February 2, 2004... Feb. 3-Feb. 6: CBA, Indiana Convention Center & RCA Dome. Estimated attendance: 6,500. Feb. 6-Feb 7: Premier Designs Inc., Indiana Convention Center& RCA Dome. Estimated attendance: 2,000.

Fund raising.(Records)(Calendar)
February 2, 2004... Holy Family Shelter to benefit from "Fruit of the Spirit" wine and cheese tasting on Feb. 5, 7-9 p.m. at Allison Mansion, 3200 Cold Springs Road given by Holy Family Services Advisory Council. Tour the historic mansion, sample more than 20 fine...

Largest Indianapolis-area retail florists: (ranked by number of local FTE floral designers).(Illustration)
February 2, 2004... Largest Indianapolis-Area Retail Florists (Ranked by number of local FTE-floral designers) LOCAL FTE: ACTIVE RANK FLORIST DESIGNERS/ ACCOUNTS 2003 ADDRESS ...

Teeing off into next season: Great American Golf Shows thrives when golfers stay inside.(Great American Golf Shows)
February 2, 2004... Unlike most golfers, John Valant loves weekends ruined by snow, rain or other disagreeable weather. Storms turn golfers away from the range or links and toward one of the five golf shows Valant operates every year in Indiana, Kentucky and North...

In recognition.(Records)(Brief Article)
February 2, 2004... The Indiana Chapter of the Arthritis Foundation honored K. David McKee with the Humanitarian Award, Merrill A. Ritter with the Medical Award and Marsh Supermarkets with the Commendation Award. Stewart & Irwin lawyer Douglas R. Brown was...

Mechanic's leins.(Records)(Public Notice)
February 2, 2004... To: Alliance Residential, Alliance SH2 Ltd. Part., 6630 Glenbrook Drive, $25,448 From: Roofing Serv. of Indiana Inc. Recorded: Nov. 13 To: Success Inc., 1404 S. State St., $13,481 From: Gordon Plumbing Inc., Resource Group...

Visit Mexico, fund cancer efforts.(Riverview Hospital Memorial Foundation)(Nancy Irsay)(Brief Article)
February 2, 2004... The Riverview Hospital Memorial Foundation and Nancy Irsay have organized an October retreat for up to 100 women in Mexico that will raise money for the Riverview Women's Pavilion and the Seraphim Cancer Research Foundation. Nancy's...