Indianapolis Business Journal articles from January 2005

Indianapolis Business Journal archives from January 2005

Weight center waits: bariatric surgery hospital had been scheduled to open in mid-2004.(Forest Health Services LLC)
January 3, 2005... A new bariatric hospital on the west side of Indianapolis has yet to treat its first patient and some say a struggle to find doctors may be the reason behind the delay. Michigan-based Forest Health Services LLC launched plans in 2003 to...

Replicating race cars of the past: Westfield firm plans to sell Ford GT40 reproductions.(GT40 North America LLC)
January 3, 2005... An upstart Westfield company's reproduction of the 1966 Ford GT40 Mk1 race car turns heads wherever it goes. Whether it's on the highway or in a showroom, people can't help but gaze at the sleek, retro roadster built to emulate the...

Ivy Tech president secured: after 21 years in charge, Lamkin signs first job pact.(Ivy Tech State College)(Gerald Lamkin)
January 3, 2005... Ivy Tech State College trustees last month approved a first-ever employment contract for longtime President Gerald Lamkin, giving him a 9-percent pay raise and relative job security until his intended retirement in mid-2007. Such deals are...

Code sharing may help ATA: but analysts say Southwest Airlines unlikely to favor chairman's international destinations.(ATA Holdings Corp.)
January 3, 2005... During ATA Holdings Corp.'s annual meeting in 2003, George Mikelsons told shareholders low-fare carriers must strike up alliances to weather the industry storm. He proposed code sharing that would allow passengers buying a ticket on ATA or...

ADESA pushes virtual business: Carmel firm expands Internet car auctions.
January 3, 2005... As rituals go, bidders at wholesale auto auctions have a lot in common with scouts for baseball teams who troll the fields for prospects. These old salts of their trades often can be spotted in baseball caps that cast a shadow over...

Mayor seeking broader control: Indianapolis Works proposal gives Peterson more authority over suburban budgets.
January 3, 2005... Some parts of local government are financed by the city. Others are the bailiwick of the county or the townships. For years, the split didn't much matter. Today, it means everything. While they held sway during the first three decades...

Payoff from Guidant sale disappoints some analysts.(Behind The News)
January 3, 2005... Guidant Corp.'s sale to Johnson & Johnson is valued at an eye-popping $25.4 billion, the largest price tag ever for an Indianapolis-based company. Even so, for shareholders the merger doesn't create the euphoria often associated with...

Wal-Mart nears deal on city's northwest side: neighbors hope retail behemoth will revive corridor.(Wal-Mart Stores Inc.)
January 3, 2005... Wal-Mart Stores Inc. is said to be getting closer to selecting a site in the Lafayette Square area for a SuperCenter, a move retail experts say would be a boost for the struggling commercial corridor. The world's largest retailer has...

COBRA strikes with revised set of guidelines: deferred compensation plans also subject to changes.(Consolidated Omnibus Budget Reconciliation Act of 1985)
January 3, 2005... Human resource workers may have little time to ease into the new year as they prepare for legal changes that erase some deferred-compensation loopholes and clarify COBRA notification. Last spring, the U.S. Department of Labor issued new...

Federal grants are flying to Indiana airports: record money a boon for capital improvements.
January 3, 2005... Indiana airports landed record federal grants of $61.9 million in fiscal 2004 for everything from building taxiways to extending runways to transmitting weather data to pilots. The $17 million, or 38 percent, increase from 2003 could bode...

Indians stock sale pushes price to record high: 16-percent increase comes on heels of strong financial year for AAA franchise.
January 3, 2005... The Indianapolis Indians' stock value is going up like a long ball off the cleanup hitter's bat. On the heels of a year that saw strengthening profits for the AAA minor-league affiliate, six shares of Indians stock sold in December for...

Mayor displays real leadership: makes strong case for expansion.(Editorial)
January 3, 2005... Mayor Bart Peterson's $800 million plan to double the Indiana Convention Center and build a new football stadium is remarkable for many things, but here are two that stand out: The discussion has turned on the necessity for expansion and no one...

Looking back at 2004 and beyond.(Commentary)
January 3, 2005... Every January, I like to reflect on some of the prior year's topics. This year, I am especially nostalgic. You may be reading my last column. I have accepted a two-year hitch with the Daniels administration as president of the Indiana...

Correction.(Editorial)(Correction Notice)
January 3, 2005... The Lafayette architecture firm Scholer Corp.'s name was misspelled in the Dec. 20 issue.

Let's explore options to finance stadium.(Eye On The Pie)
January 3, 2005... Phinneas Phogghorn, Indiana's third U.S. senator, was home for the holidays and in fine voice at the Dixie Donut Shoppe. "Rubbish," the jewel of Jeffersonville intoned to his assembled admirers. "Unadulterated rubbish is all I can say about...

Simon redesign is something to celebrate.(Commentary)(Column)
January 3, 2005... What a nice way to start 2005, with a new, improved design of the Simon headquarters. At the start of a new year, it seems appropriate to reflect. The chain of events that led to the redesign of this important building marks a turning point in...

Hudson's move was right decision.(Letters)(Letter to the Editor)
January 3, 2005... In his Dec. 20 [column], "Long-distance commuters don't make the best CEOs" it is clear that John Mutz has strong feelings about Hudson Institute's departure from Indianapolis. So do we. It was with great sadness that Hudson relocated to...

Border counties should add taxes.(Letters)(Letter to the Editor)
January 3, 2005... I believe in the "one-third" option to fund the convention center/stadium. The counties surrounding Marion should have the same hotel and restaurant taxes as Marion with one-third of those proceeds going to support convention, sports and other...

It'll be full speed ahead as legislators start term.(Statehouse Dispatch)(Column)
January 3, 2005... Words once uttered by a man who certainly qualifies as an honorary Hoosier--Mario Andretti--will probably prove prophetic as we watch Indiana's new governor and General Assembly over the next four months. "If everything seems under...

Marsh's Fresh Market draws lawsuit.(On The Beat)(Fresh Market Inc.)(Marsh Supermarkets Inc.)(Brief Article)
January 3, 2005... A new grocery concept from Marsh Supermarkets inc. has drawn the attention of a North Carolina-based grocery chain, which is suing the locally based grocer over use of the "Fresh Market" name. The Fresh Market Inc. filed a lawsuit in U.S....

Business college now landlord.(Education)(Indiana Business College )(Brief Article)
January 3, 2005... Indiana Business College is looking ahead. Two years after moving to a former bank storage facility on East Washington Street, the college has purchased a nearby property for a possible expansion. "A building became available in that...

Mayor shuffles key personnel.(Government)(Brief Article)
January 3, 2005... Mayor Bart Peterson announced several key personnel changes to his administration. Jennifer Simmons, Peterson's former deputy chief of staff, has been promoted to chief of staff. April Edwards, formerly Peterson's deputy corporation...

Speed Channel pulls Lingner.(Media & Marketing)(Lingner Group Productions Inc.)(Brief Article)
January 3, 2005... After an eight-year run, Speed Channel is pulling "AutoWeek," produced by locally based Lingner Group Productions Inc. The show, which aired 391 episodes, is Lingner's longest-running TV show. Despite the show's consistent ratings, Speed...

Pilgrim Communications recently sold WXLW-AM 950 to locally based Raven Broadcasting.(Media & Marketing)(Brief Article)
January 3, 2005... Pilgrim Communications recently sold WXLW-AM 950 to locally based Raven Broadcasting. The sale is waiting for Federal Communications Commission approval. Terms were not released. Raven principals include Jonathan Byrd II and David Byrd,...

Survey says: overall giving climate better.(Philanthropy)(Brief Article)
January 3, 2005... Most not-for-profits continue to be hopeful about the charitable-giving climate, but human services organizations are less optimistic this winter, according to a recent study from Indiana University's Center on Philanthropy. Center...

Horizon House.(Philanthropy)(Brief Article)
January 3, 2005... Central Indiana's recent warm-up was welcome news to the staff and clients at Horizon House, a local not-for-profit that offers services to the homeless. When temperatures dropped just before Christmas and snow was flying, the center at...

South-side developer to purchase downtown building.(Real Estate)(Brief Article)
January 3, 2005... Local residential and commercial builder J. Greg Allen plans to renovate the half-empty Jefferson Plaza office building at 1 Virginia Ave. after closing on its purchase in coming weeks. Allen, owner of J. Greg Allen and Associates and Allen...

Yount and Co. LLC.(Accounting)(appointments)(Brief Article)
January 3, 2005... Dan Holt has joined Yount and Co. LLC, Certified Public Accountants, as a senior manager.

BKD Technologies.(Accounting)(appointments)(Brief Article)
January 3, 2005... Alex Tio has joined BKD Technologies as a supervising consultant.

Blue & Co. LLC.(Accounting)(appointments)(Brief Article)
January 3, 2005... Karla M. Schlichte and Jeffrey L. Reed have been named directors of Blue & Co. LLC. Michael A. Fleetwood has been named to the executive committee.

L.M. Henderson & Co.(Accounting)(appointments)(Brief Article)
January 3, 2005... Deanna Merrier has joined the Audit Department at L.M. Henderson & Co. Jason Confer has joined the Tax Department.

Katz Sapper & Miller.(Accounting)(appointments)(Brief Article)
January 3, 2005... * Scott C. Price and * Daniel M. Rosio have been promoted to directors at Katz Sapper & Miller. * Beth Cuskaden has joined as a senior accountant, audit and assurance services group; and * Nancy Di Carlo has joined as a staff accountant,...

Optimedia U.S.A.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... Optimedia U.S.A., Indianapolis office, has added the following: * April Cummings and * Janna Rembe, assistant media negotiator/planners; and * Megan Rose, media buyer/planner. * Elizabeth Deputy has been promoted to senior broadcast...

Hetrick Communications.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... Hetrick Communications has added the following: * Keianna R. Montgomery and * Christy Randolph, account coordinators.

Borshoff Johnson Metthews.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... * John Elx has joined Borshoff Johnson Metthews as an account director.

Indiana Chamber of Commerce.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... The Indiana Chamber of Commerce has named the following new board members: David Champ, State Farm Insurance; Joe DeGroff, Ice Miller; Gale Given, Verizon; Thomas Grain, Eli Lilly and Co.; Wayne Patrick, Professional Data Dimensions; and...

Diversified Market Builders Marketing and Management Inc.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... * Sean Keating has joined Diversified Market Builders Marketing and Management Inc. as project director.

Indianapolis Black Chamber of Commerce.(Advertising/Marketing/Public Relations)(appointments)(Brief Article)
January 3, 2005... The Indianapolis Black Chamber of Commerce has elected the following new board members: Vince Epps, Shrewsberry & Associates; Sherry R. Hopkins, Golden Rule Insurance Co.; LaTricia Hill-Chandler, IU-Bloomington; Shelvy H. Keglar Jr., Midwest...

Carter & Burgess.(Architecture/Engineering/Design)(appointments)(Brief Article)
January 3, 2005... * James Sumwalt has joined Carter & Burgess as senior aviation manager and vice president, Transportation Programs Division.

Fanning/Howey Associates Inc.(Architecture/Engineering/Design)(appointments)(Brief Article)
January 3, 2005... Steve Herr has joined Fanning/Howey Associates Inc. as a project coordinator.

HNTB.(Architecture/Engineering/Design)(appointments)(Brief Article)
January 3, 2005... * Brian Krenzke has joined the Real Estate Department as a real estate specialist at HNTB.

DeBoy Land Development Services.(Architecture/Engineering/Design)(appointments)(Brief Article)
January 3, 2005... Colin R. Patterson has joined DeBoy Land Development Services as project engineer.

Bank One/Chase Auto Finance.(Banking)(appointments)(Brief Article)
January 3, 2005... Bank One/Chase Auto Finance has named the following to its Dealer Commercial Services Department in Indianapolis: Michael Lochtefeld, senior underwriter; Maria McDaniel, CMS operations senior specialist; Judy Gathard and Julie Sriram,...

CICOA Aging & In-Home Solutions.(Civic/Not-For-Profits)(appointments)(Brief Article)
January 3, 2005... Edwin J. Simcox Jr., Clarian Health Partners, has been elected to the foundation board of trustees of CICOA Aging & In-Home Solutions.

Eastern Star Church.(Civic/Not-For-Profits)(appointments)(Brief Article)
January 3, 2005... * Sheila J. Triplett has been named director of counseling and visitation for Eastern Star Church.

Central Indiana Women's Business Center.(Civic/Not-For-Profits)(appointments)(Brief Article)
January 3, 2005... Sharon O'Donoghue has been named director of the Central Indiana Women's Business Center.

Indianapolis City Market Corp.(Civic/Not-For-Profits)(appointments)(Brief Article)
January 3, 2005... Ann McWilliams has joined Indianapolis City Market Corp. as director of marketing.

Agenda Indianapolis: readers prioritize the most important tasks facing the city.(Agenda Indianapolis)(Brief Article)
January 3, 2005... While many have decided on New Year's resolutions for themselves, IBJ has put together a list of resolutions for Indianapolis. Using a survey of IBJ Daily readers conducted in December, IBJ put together a list of tasks the city must...

Readers say transportation should top city's agenda: growing traffic delays, struggling IndyGo system, possible rapid transit system among issues facing planners.(Agenda Indianapolis)
January 3, 2005... The average Indianapolis motorist sits in traffic delays more than nine times longer than he or she did 20 years ago: 37 hours a year vs. just four hours in 1982, according to a recent study by the Texas Transportation Institute. Growing...

Growing convention business creates tough decisions: mayor outlines possible solution for expanding center and adding stadium, but funding battle looms ahead.(Agenda Indianapolis)
January 3, 2005... Consider Indianapolis a victim of its own success. The city's efforts to make a name for itself as a convention destination have worked--almost too well. The Indiana Convention Center is at capacity with 40 major events a year, and two of...

Major sewer system renovations await federal approval: with waste pouring into White River almost every time it rains, Indianapolis is in dire need of sewage overhaul.(Agenda Indianapolis)
January 3, 2005... The city's long-term plan to prevent the flow of raw sewage into White River and its tributaries should receive federal approval soon, nearly five years after Mayor Bart Peterson introduced a proposal to fix the antiquated system. City...

Chronic underfunding frays public safety, penal systems: county faces big questions about jail overcrowding, lack of funds for police, prosecutors and public defenders.(Agenda Indianapolis)
January 3, 2005... In 2005, the city of Indianapolis will spend $277 million on public safety. Marion County will lay out another $186 million. " It's not enough. While $463 million may sound like a lot of money, it has to pay for every aspect of local...

'Works' proposal would overhaul Unigov: yesterday's system isn't keeping with current makeup of Marion County.(Agenda Indianapolis)
January 3, 2005... Three decades ago, before Republicans conceived the local government consolidation they called Unigov, Indianapolis was the sleepy burg folks drove through on their way somewhere else. Once city and county government began working together,...

Some New Year's wisdom from uber-investor Buffett.(Bulls & Bears)
January 3, 2005... With the new year and in a reflective mood, here is a collection of quotes I find convey useful investment wisdom. All the quotes, except the last by Peter Lynch, are extracted from the speeches or writings of Warren Buffett, some of which...

Dow constructed his averages to do technical analysis.(Investing)(Charles Dow)(Column)
January 3, 2005... As a technical analyst I am fascinated by history. I was a history major in college, so my interest here predates my addiction to financial markets. The predictive ability of technical analysis depends on people acting in ways similar to...

Prices recover in 2004; expect same in 2005.(Economic Analysis)
January 3, 2005... A few weeks of big price changes, particularly on the up side, and the armchair economists seem to really come out of the woodwork. Oil prices peaked in October at levels 40-percent higher than in July, and so did rumblings about...

Irwin Financial Corp.(Proxy Corner)(Company Profile)
January 3, 2005... Irwin Financial Corp., 500 Washington St., Columbus, 47201 (www.irwinfinancial.com) is an interrelated group of specialized financial services companies including Irwin Mortgage Corp., Irwin Home Equity corp., Irwin Union Bank and Trust Co.,...

Planned Parenthood of Indiana.(Not-For-Profit Of Note)(Company Profile)
January 3, 2005... 200 S. Meridian St. Indianapolis, IN 46225 Phone: 637-4343/fax: 637-4344 Web site: www.ppin.org Founded: 1932 Paid employees: 240 Highest-paid staff member: Betty Cockrum, president and CEO, $117,000 Top volunteers:...

Lilly expects additional restructuring charges.(IBJ daily)(Eli Lilly and Co.)(Brief Article)
January 3, 2005... Local drugmaker Eli Lilly and Co. Dec. 22 said in a U.S. Securities and Exchange Commission filing that it expects pretax restructuring charges of $400 million to $465 million for a streamlining plan it announced in October. Most of the...

Kite acquires Seattle shopping center for $10.5 million.(IBJ daily)(Kite Realty Group Trust )(Brief Article)
January 3, 2005... Locally based real estate investment trust Kite Realty Group Trust said Dec. 22 it has purchased Four Corner Square, a neighborhood shopping center in suburban Seattle, for $10.5 million cash. The 70,000-square-foot shopping center is about...

Port of Indiana breaks single-month tonnage record again.(IBJ daily)(Brief Article)
January 3, 2005... The Port of Indiana in Portage in November set a monthly tonnage record for the second straight month. About 431,000 tons of commodities passed through the northern Indiana port during the month, up from 375,000 tons in October. Ports...

CELL awards 3rd round of school startup grants.(IBJ daily)(Center of Excellence in Leadership of Learning)(Brief Article)
January 3, 2005... The Center of Excellence in Leadership of Learning at the University of Indianapolis has awarded a third round of grants totaling $145,200 for development of small schools. Lawrence Township Schools and Ivy Tech State College--Central...

Local Radisson hotels to be part of $250 million package.(IBJ daily)(Brief Article)
January 3, 2005... The Radisson Hotel City Centre at Ohio and Meridian streets downtown and the Indianapolis Airport Radisson Hotel are among 21 hotels that will be purchased by Dallas-based Ashford Hospitality Trust Inc. for $250 million. Ashford has signed...

Coles PR launches new division.(IBJ daily)(Coles Public Relations)(Brief Article)
January 3, 2005... Locally based Coles Public Relations Inc. Dec. 27 launched a division to manage corporate identity projects, print and Web site design, and electronic communications. Coles Croative initially will employ three designers, but could expand...

Bankruptcies.(Records)(Public Notice)
January 3, 2005... Fall Creek Technologies Inc., f/d/b/a Media Buy Net, 13902 Tamara Trace, Fishers, 46038. Chapter 7 liquidation. Assets: $200; liabilities: $462,996.

Calendar.(Records)(Calendar)
January 3, 2005... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. Jan. 3, 7-8:30 a.m.: Business & Professional Exchange, Career Networking, North chapter, St. Luke's United Methodist Church,...

Conventions.(Records)(Calendar)
January 3, 2005... Jan. 3-Jan. 9: Archery Trade Association, Indiana Convention Center & RCA Dome. Estimated attendance: 9,000

Patents.(Records)(Public Notice)
January 3, 2005... From the Aug. 30, 2004, Official Gazette of the U.S. Patent and Trademark Office: Xinjian Xue. Bradley J. Graves, Noblesville; Michael G. Moray, Douglas G. Hobson, Amy S. Aldridge, Richard S. Taylor, Indianapolis Method and system for...

Label printer targets high-end market: duo seeks to keep firm on the cutting edge.(Small Biz Profile)(Indilabel LLC.)(Company Profile)
January 3, 2005... A label is more than paper and glue. In today's world, the label may contain a holograph or an embedded security code and have to stick to the container in freezing or melting temperatures. Meeting the demand for such labels was the...

Planning and zoning.(Records)(Public Notice)
January 3, 2005... Planning and zoning petitions approved by the Indianapolis-Marion County Metropolitan Development Commission, Plat Committee and the Board of Zoning Appeals Request: The Woods At Grassy Creek LLC for approval of a subdivision plat at 1202...

Do national brands make city grand or bland?(Notions)
January 3, 2005... Dave Thomas, the founder of Wendy's, died this month. Most folks remember Dave for his TV commercials. I recall hometown pride, because Dave learned the restaurant business from a Fort Wayne chicken establishment I frequented in my youth. ...

Pastoring provides healing for public relations pro: Avatar owner leads flock he joined as a child.(Profile: Ernie Reno)(Avatar Communications Group)(Biography)
January 3, 2005... As a young child, Ernie Reno spent Sunday mornings worshipping at West Park Christian Church on Indianapolis's west side. After taking newscasting jobs around the Midwest, he landed back in Indianapolis in 1991, and back at West Park, where he...

Visions of trophies, titles and a new stadium in '05.(Sports)
January 3, 2005... Back, by little demand, my annual list of wants and realities for the New Year (please do not clip and save). Want: Same as last year, and the year before, and the year before. That Peyton Manning leads the Colts to a Super Bowl victory and...

What's in the cards? Experts lay out the odds for an improving commercial real estate market.(Brief Article)
January 3, 2005... IBJ invited a dozen local experts in the office, industrial and retail markets to sit around the table, look back at 2004 and offer their opinions about what's in the cards for real estate in 2005. As in the past couple of years, the office...

Office.(Interview)
January 3, 2005... Local office experts are wearing their best poker faces, but it remains to be seen whether 2005 will deal a straight flush or a pair of nines to the market. With vacancy still rampant in many Class A office buildings, brokers, landlords and...

Retail.(Interview)
January 3, 2005... 2004 was a big year for retail, with local developers splitting the retail pot between large centers, such as Clay Terrace and Traders Point, and smaller neighborhood developments. The coming year may not see anything as rich as those large...

Industrial.(Industrial real estate )
January 3, 2005... After a year that saw few high rollers come to the table in the industrial market, experts in the industry are circumspect about 2005. Speculative construction will continue to fill up, they predict, but landlords may have to be more flexible...

REITs' lives made easier by 'common sense' changes: foreign investment in sector may increase under new law.(Real Estate Investment Trusts)
January 3, 2005... Real estate investment trusts--those peculiar entities that enjoy a special tax status but must operate under strict and sometimes complicated federal guidelines--have some new breathing room thanks to recently enacted corporate tax-reform...

Simon breaks ground.(News & notes: a quick look at recent events in the local commercial real estate industry)(Simon Property Group Inc.)(Brief Article)
January 3, 2005... Simon Property Group Inc., the world's largest mall owner, officially broke ground on its worldwide headquarters in downtown Indianapolis in late October. The $55 million building, on the southwest corner of Washington Street and Capitol...

Pyramids sold.(News & notes: a quick look at recent events in the local commercial real estate industry)(College Life Development Corp. sells off the Pyramids )(Brief Article)
January 3, 2005... New York-based Sterling American Property acquired one of the city's best-known landmarks when it purchased the Pyramids in October from College Life Development Corp. Terms of the deal weren't disclosed, but local office sources estimated...

Duke leaders retire.(News & notes: a quick look at recent events in the local commercial real estate industry)(Duke Realty Corp.'s vice chairman Darrell E. "Gene" Zink Jr. retires)(Brief Article)
January 3, 2005... Citing personal reasons, Duke Realty Corp. Vice Chairman Darrell E. "Gene" Zink Jr. left his post late in 2004. Zink retired after 26 years with the commercial real estate firm. He served as Duke's chief financial officer until December 2003....

Prologis beefs up.(News & notes: a quick look at recent events in the local commercial real estate industry)(Keystone Property Trust acquired by Prologis)(Brief Article)
January 3, 2005... Colorado-based ProLogis went from one of the pack to a major player in the local industrial market when it acquired Keystone Property Trust for $1.7 billion in August. The deal gave Prologis seven more distribution facilities in the key...

Clay Terrace opens.(News & notes: a quick look at recent events in the local commercial real estate industry)(Clay Terrace, a joint project of Simon Property Group Inc. and Lauth Property Group Inc. opened)(Brief Article)
January 3, 2005... Clay Terrace, the city's first so-called "lifestyle center" opened in mid-October with more than 50 retailers. Early indications were positive for the upscale Carmel development, a joint project of Simon Property Group Inc. and Lauth...

Meridian grows.(News & notes: a quick look at recent events in the local commercial real estate industry)(Meridian Real Estate Services recieved Growth 100 award)(Brief Article)
January 3, 2005... Meridian Real Estate of Indianapolis received its third Growth 100 Award from the Indiana University Kelley School of Business and the Johnson Center for Entrepreneurship & Innovation. The annual award recognizes 100 of the state's...