Indianapolis Business Journal articles from January 2007

Indianapolis Business Journal archives from January 2007

2006 year in review.(Editorial)
January 1, 2007... A deal-making frenzy reshaped central Indiana s corporate landscape in 2006. Three of area's highest-profile businesses--Guidant Corp., Marsh Supermarkets Inc. and Union Federal Bank--found out-of-state buyers. Meanwhile, the state's Republican...

Winona litigation fizzles: trustee: insiders' bankruptcies stymie bid to recoup millions.(Winona Memorial Hospital)
January 1, 2007... A court-appointed trustee in charge of Winona Memorial Hospital's bankruptcy says he believes former owners fleeced it for more than $4 million. But he has little to show from his two-year quest to recover money for creditors and now is winding...

Will Circle Truss become our Arch? Proposed gateway landmark estimated to cost up to $10m.
January 1, 2007... The Arch welcomes visitors to St. Louis. San Francisco's Golden Gate Bridge ushers in the masses. And soon the Circle Gateway Truss could greet travelers entering downtown Indianapolis. If organizers' vision becomes reality, a 280-foot...

CEO Smulyan captains Emmis through another turbulent year.(Emmis Communications Corp.'s Jeff Smulyan management decisions)(Brief article)
January 1, 2007... In 2006, Emmis Communications Corp. CEO Jeff Smulyan led efforts to sell his company's television stations, change radio formats, reduce debt--and take the business private. He even proposed using Emmis funds to help buy a Major League...

New owner takes over at Marsh.(Sun Capital Partners acquire Marsh Supermarkets Inc.)(Brief article)
January 1, 2007... Marsh Supermarkets Inc. saw big changes in 2006 as new owners and a new CEO took over, and the Fishers-based company announced store closures and layoffs. Boca Raton, Fla.-based Sun Capital Partners in October closed on its $88-million...

Bringing Honda to Greensburg highlights a wild year for Daniels.(YEAR IN REVIEW)
January 1, 2007... It was a banner economic development year for Gov. Mitch Daniels, topped by the blockbuster Honda auto plant deal. Thanks in part to a second trip to Japan, Daniels landed a $550 million plant for Greensburg in June. Slated to begin...

Banks play name game: Sky purchases Union Federal, then sells to Huntington.(YEAR IN REVIEW)
January 1, 2007... Union Federal Bank became Sky Bank after Ohio-based Sky Financial Group in October completed its $322 million purchase of Indianapolis' largest locally based financial institution. But the Sky signs won't be up for long. On Dec. 20, Sky...

Buyout frenzy hits Indiana firms.(YEAR IN REVIEW)
January 1, 2007... The year closed with two multibillion-dollar buyouts of Indiana public companies--Carmel-based Adesa Inc. and Warsaw-based Biomet Inc. It was a fitting way to wrap up what was a record year for U.S. buyouts, many of them launched by...

CICP's chief launches raft of initiatives.(Central Indiana Corporate Partnership's Mark Miles )
January 1, 2007... In January, Mark Miles returned to Indianapolis after more than a decade at the helm of the Association of Tennis Professionals to become CEO of the Central Indiana Corporate Partnership. Twelve months later, the CICP looks much different...

Boston Scientific swallows Guidant.(YEAR IN REVIEW)(Boston Scientific Corp. acquires Guidant Corp.)
January 1, 2007... Massachusetts-based Boston Scientific Corp. finally sealed its purchase of Indianapolis medical device maker Guidant Corp. in April. But it was still paying a price for the $27-billion deal as 2006 wound to a close. Boston Scientific...

Domestic automakers slash area jobs.(YEAR IN REVIEW)
January 1, 2007... Turmoil in the domestic auto industry cast uncertainty over thousands of central Indiana jobs in 2006. Ford Motor Co.'s 2,000-worker east-side Indianapolis plant will close or be sold by the end of 2008, according to a plan the automaker...

City picks Marriott, passes on Pan Am plan.(YEAR IN REVIEW)(Brief article)
January 1, 2007... A willingness to redesign and add rooms to its proposed JW Marriott hotel helped push locally based REI Real Estate Services and its partner over the top in their quest to build a convention headquarters hotel. The team of REI and...

Better days on the way for museum.(NEWSMAKER)
January 1, 2007... Things are improving for Ellen Rosenthal. For more than two years, she kept Conner Prairie on track while a battle raged over control of the Hamilton County living history museum, Now she's leading the institution's rebirth. For the...

A sweet year for Interactive, other stocks.(Interactive Intelligence Inc.)(Brief article)
January 1, 2007... Interactive Intelligence Inc. this past summer finally rebounded to $13, its initial public offering price seven years ago. Then it kept going. By year-end, shares of the Indianapolis-based software maker were trading around $21. For the...

Storms crisis for some, boon for others.(YEAR IN REVIEW)
January 1, 2007... When two separate storms boasting 80-mile-per-hour winds and massive hail hit the Indianapolis area in April, it was just the beginning of headaches for some. For others, it was the beginning of a lot of green. A storm on April 2...

Longtime executives unleash big donations.(NEWSMAKERS)(charity donation)
January 1, 2007... Two Indianapolis business legends cemented their reputations for generosity in 2006 with charitable donations of $50 million and $15 million, respectively. The Indiana University School of Medicine announced in November that retail...

For Cornelius '06 was full of challenges.(Jim Cornelius)
January 1, 2007... Long-time Indianapolis business leader Jim Cornelius jumped from one daunting challenge to another in 2006. He started the year as chairman and CEO of Guidant Corp., as it weighed a possible sale to either New Jersey-based Johnson & Johnson...

New stadium rising; city preparing for Super Bowl bid.(YEAR IN REVIEW)
January 1, 2007... The concrete columns of the Indianapolis Colts' new $675 million stadium began rising out of the ground in early 2006. Soon thereafter, the new venue had a name. In March, California-based Lucas Oil Products agreed to a 20-year, $121.5...

Daniels' major moves raise eyebrows.(Mitch Daniels)(Brief article)
January 1, 2007... How do you deal with a $2.8 billion shortfall in the state's transportation budget over the next decade? Gov. Mitch Daniels created a firestorm in 2006 with his solution: Privatize the Indiana Toll Road. The 75-year lease of the...

Deregulation creates telecom free-for-all.(YEAR IN REVIEW)
January 1, 2007... Lawmakers last spring made it easier for AT&T, Verizon and big phone companies to get into the video business now ruled by cable TV operators. By summer, video providers were able to obtain a single, statewide video franchise instead of...

Payne blazed Cultural Trail.(NEWSMAKER)(Brian Payne- Central Indiana Community Foundation)(Brief article)
January 1, 2007... Inspiration struck Brian Payne in 2001 while he was walking the Monon Trail. He remembered a conversation in which city officials lamented that downtown streets were too wide and cars moved too fast to allow much of a pedestrian connection...

2007 priorities: crime, schools: readers react to disturbing trends.(EDITORIAL)(Editorial)
January 1, 2007... It's telling that readers of our IBJ Daily business-news e-mail think crime and education are the biggest problems facing Indianapolis and the issues we should focus on in 2007. When people read business publications or e-mails, they're...

Tying up some local loose ends.(Commentary)(Column)
January 1, 2007... Maybe you've already heard. Mickey Maurer's column will return to this space in a few weeks. After two years serving as Gov. Mitch Daniels' go-to economic development guy, Mickey should have plenty of stories to tell. And Associate Editor...

News flash? Indiana continues to lag nation.(EYE ON THE PIE)(Statistical data)(Column)
January 1, 2007... The U.S. Department of Commerce put two data sets under my tree the week before Christma. On Wednesday, I got personal-income data, by state, for the third quarter of 2006 from the Bureau of Economic Analysis. On Friday, the Bureau of the...

Care to join me in living dangerously in 2007?(lifestyles)(Column)
January 1, 2007... My new year's resolution is to live dangerously. No, I'm not going to Baghdad. I'm not going to Darfur. Heck, with last year's homicide rate, I'm not even going to some parts of Indianapolis. I'm going to talk on my cell phone while driving to...

AXA Advisors LLC.(FINANCE)
January 1, 2007... Jac Klinger has been named a district manager of the Midwest division of AXA Advisors LLC. Bryan Klemm has joined as a financial consultant.

Fleet Street Mortgage.(FINANCE)
January 1, 2007... Chad G. Martin has been named Indiana region director for Fleet Street Mortgage.

Hilliard Lyons.(FINANCE)
January 1, 2007... Bill Fulton has been named a financial consultant at Hilliard Lyons, Indianapolis office.

White River Capital Inc.(FINANCE)
January 1, 2007... Daniel W. Porter has been named to the board of White River Capital Inc.

LCU Financial Services LLC.(FINANCE)
January 1, 2007... Joseph B. Vierhile has been named vice president-senior financial advisor at LCU Financial Services LLC.

Rolls-Royce Corp.(MANUFACTURING)
January 1, 2007... Beverly Gaskin has been named executive vice president, supply management, North America, Rolls-Royce Corp.

International Downtown Association.(PROFESSIONAL/TRADE)
January 1, 2007... Tamara Zahn, Indianapolis Downtown Inc., has been named to the International Downtown Association board of directors.

Indiana Board of Law Examiners.(PROFESSIONAL/TRADE)
January 1, 2007... Jon Laramore, Baker & Daniels LLP, has been named to the Indiana Board of Law Examiners.

Robert R. Foos Jr., Lewis Wagner LLP, has been named to the editorial board of the Indianapolis Bar Association.(Kena S. Hollingsworth, Hollingsworth Jocham also appointed )(Brief article)
January 1, 2007... Robert R. Foos Jr., Lewis Wagner LLP, has been named to the editorial board of the Indianapolis Bar Association. Kena S. Hollingsworth, Hollingsworth Jocham & Zivitz LLC, has been named to the executive committee of the family law section.

Indianapolis Bar Association: Kenan L. Farrel.(PROFESSIONAL/TRADE)
January 1, 2007... Kenan L. Farrel, Bingham McHale, has been elected chairman of the intellectual property section of the Indianapolis Bar Association.

Megan Miller has joined NAI Olympia Partners as an associate, office division.(REAL ESTATE)(Brief article)
January 1, 2007... Megan Miller has joined NAI Olympia Partners as an associate, office division. and Jake Isenbarger has joined as an associate, industrial division. Jason Speckman has joined to specialize in office and retail investment transactions.

Bose Public Affairs Group LLC.(SERVICES)
January 1, 2007... Jennifer Simmons has been promoted to vice president at Bose Public Affairs Group LLC.

Jim Harris has joined MainGate as senior vice president.(SERVICES)
January 1, 2007... Jim Harris has joined MainGate as senior vice president of planning and administration.

Health Care Advocates of Indiana.(SERVICES)
January 1, 2007... Judy Smith has been named manager of Health Care Advocates of Indiana.

Joan McKissack has joined The AME Group.(SERVICES)
January 1, 2007... Joan McKissack has joined The AME Group as a service technician.

Momentive Consumer Credit Counseling Services.(SERVICES)
January 1, 2007... Bill Sultan has been named president at Momentive Consumer Credit Counseling Services.

R. Jefferson Hensley has joined Aaron-Ruben-Nelson Mortuary.(SERVICES)
January 1, 2007... R. Jefferson Hensley has joined Aaron-Ruben-Nelson Mortuary as a funeral director.

Safety Resources Inc.(SERVICES)
January 1, 2007... Cheryl Bir has been named chief financial officer at Safety Resources Inc. Gary Gagliardi has been named vice president, operations management.

SEEMAC Inc.(SERVICES)
January 1, 2007... Elliott Savage has been named president and CEO of SEEMAC Inc.

Indiana Sports Corp.(SPORTS)
January 1, 2007... Rajan Gajaria, Dow AgroSciences, has been elected to the Indiana Sports Corp. board of directors, representing the International Center of Indianapolis.

Arie Jones has joined Perpetual Technologies Inc.(TECHNOLOGY/TELECOMMUNICATIONS)
January 1, 2007... Arie Jones has joined Perpetual Technologies Inc. as database technician and senior consultant.

Sherrie Bell has joined eGIX Inc.(TECHNOLOGY/TELECOMMUNICATIONS)
January 1, 2007... Sherrie Bell has joined eGIX Inc. as a channel manager.

D&M Holdings Inc.(TECHNOLOGY/TELECOMMUNICATIONS)
January 1, 2007... Bernie Sepaniak has been named chief technology officer at D&M Holdings Inc.

Brian Krol has joined Dugdale Communications Inc. as a field service technician.(TECHNOLOGY/TELECOMMUNICATIONS)
January 1, 2007... Brian Krol has joined Dugdale Communications Inc. as a field service technician. Joan Harrison has joined as the finance manager.

Calendar.(RECORDS)
January 1, 2007... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. Jan. 2, 7 a.m.: Professional Referral Exchange, Indy South, ReMax Building, 48 N. Emerson Ave., Greenwood. Contact Addle Wood at...

Indianapolis Parks.(got finance )(Brief article)
January 1, 2007... Indianapolis Parks to benefit from the first annual Orr Fellowship Christmas Tree Pick-Up fundraiser running from Dec. 30-Jan. 6 in the Meridan-Kessler neighborhood from noon to 4p.m. The Orr Fellowship will be picking up Christmas trees for...

United Way of Central Indiana.(FUND RAISING)
January 1, 2007... United Way of Central Indiana to benefit from Pack the House Night at Conseco Fieldhouse on Feb. 3. Tickets: $9-$15. For every ticket purchased at the Indiana ice office, the United Way will receive $5. Call 925-4423 or indianaice.com.

Indiana Women in Need Foundation.(FUND RAISING)
January 1, 2007... Indiana Women in Need Foundation to benefit from the third annual Pink Pajama Party on Feb. 23-24 at the Marriott Indianapolis North. Pink pajamas or casual dress attire. Tickets: $125 for an overnight ticket and a shared room, $175 for an...

United Way of Central Indiana.(FUND RAISING)
January 1, 2007... United Way of Central Indiana to benefit from Lights Caring Action! Evening at the Oscars, at the IMAX Theater on Feb. 25 from 7-11p.m. Tickets for the black-tie event are $75. Call 920-3460 or uwci.org.

United Way of Central Indiana.(FUND RAISING)
January 1, 2007... United Way of Central Indiana to benefit from United on Broadway featuring Monty Python's Spamalot on May 11 from 5:30 p.m.-midnight. Tickets for the black-tie event are $90 and up. Call 920-3460 or uwci.org or spamalot@uwci.org.

Eiteljorg Museum extends free admission for charity.(ARTS)
January 1, 2007... A partnership of the Eiteljorg Museum of American Indians and Western Art, Clarian Health and WISH-TV Channel 8 has extended a program granting free admission to the museum in return for a donation of a canned good. Originally slated to...

Ten local artists who won $20,000 Efroymson contemporary arts fellowships will display their work at the Indianapolis Museum of Contemporary Art, 340 N. Senate Ave., starting Feb. 2.(ARTS)
January 1, 2007... * Ten local artists who won $20,000 Efroymson contemporary arts fellowships will display their work at the Indianapolis Museum of Contemporary Art, 340 N. Senate Ave., starting Feb. 2. The show will open with an artists' reception at 6 p.m. and...

Ho-ho hazardous waste.(Department of Public Works services for hazardous waste disposal)(Brief article)
January 1, 2007... City officials are trying to keep hazardous waste generated by the Christmas giving season from winding up in landfills and along roadsides. The Department of Public Works is again rolling out its "eCycle" waste bins at three locations...

Regulator embraces speedier product certification process.(INSURANCE)(Brief article)
January 1, 2007... The Indiana Department of Insurance recently started a Streamlined certification program that could cut the time needed to review changes to life and annuity products by more than 80 percent. The department will allow some insurers to skip...

John Mellencamp prepares to answer critics of TV ad.(contracts with Universal Republic Records)(Brief article)
January 1, 2007... Hoosier rocker John Mellencamp, and his record label, New York-based Universal Republic Records, are preparing a marketing and public relations campaign to defuse criticism over the singer's participation in Chevrolet TV commercials. ...

Matching grant could pay off mortgage for Second Helpings.(PHILANTHROPY)(Brief article)
January 1, 2007... An anonymous donor has challenged Second Helpings Inc. to raise $225,000 by next June and promised to match that amount. If successful, the effort would create a $450,000 windfall that would pay off the charity's mortgage. The donor issued...

Letter signed by Pacers owner ignites revenue-sharing talks.(Indiana Pacers's David Stem )(Brief article)
January 1, 2007... Sparked by a letter to Commissioner David Stem signed by Indiana Pacers co-owner Herb Simon and seven other small-market team owners, an overhaul to the NBA's revenue-sharing policy is being discussed at the league's highest level. The...

East-side revitalization district renewed.(ON THE BEAT)(Brief article)
January 1, 2007... Indianapolis' Metropolitan Development Commission has renewed the Eastside Revitalization District along Washington Street. Created in 2003 to spur redevelopment of vacant big-box retail stores and new investment in the area, the...

MainGate Inc. has signed its second big deal in as many months.(MainGate Inc. contract with Indianapolis Motor Speedway and Indy Racing League )(Brief article)
January 1, 2007... * MainGate Inc. has signed its second big deal in as many months. The locally based merchandising and marketing company recently agreed to a five-year deal with the Indianapolis Motor Speedway and Indy Racing League to operate a mobile...

Get cash for biomass.(Department of Agriculture financing projects that convert woody biomass to feedstock)(Brief article)
January 1, 2007... The U.S. Department of Agriculture is awarding grants of up to $100,000 toward demonstration projects that convert "woody biomass" to an economic feedstock. That includes using forest products to make ethanol or for heating, cooling or...

Business shoved aside: readers say city should focus on crime, education in 2007.(Focus: AGENDA 2007)
January 1, 2007... The brutal murders of seven family members, including three children shot dead in their east-side Indianapolis home, cast a dark cloud over the city last summer. Yet the June slayings only served as a harbinger of a wave of violence that...

Headline hunt: the sequel.(Play it again)
January 1, 2007... Hi, I'm Bunker the Business Beat Badger. IBJ's reporters are worn out from covering all the local business news in 2006, but you can help out by becoming an official Bunker's Junior Reporter Buddy! Test your Knowledge of 2006's biggest business...

Maze craze: navigating 2006 was no simple feat for central Indiana businesses. Get a feel for the twists and turns they encountered by working your way through the good news and the bad.(Play it again)(Brief article)
January 1, 2007... Meanwhile... offices across Indianapolis respond to the challenge. I don't see the memo on this... [ILLUSTRATIONS OMITTED] What does a badger have to do with "Indianapolis" or "business"? [ILLUSTRATIONS OMITTED] I have...

Says who?(Play it again)
January 1, 2007... Match the quotes with the person who said them. --1. "What really turns my stomach, and tears my heart out, is this is a company I spent 21 years building." --2. "Nothing we do seems to make anybody happy these days." --3. "You...

Mickey's secret message.
January 1, 2007... Coloring Activity! Grab your Favorite crayon or highlighter and color in our beloved club leader, Mickey Maurer! After completing the quiz below, use the highlighted letter in each answer to decipher a 12-letter holiday greeting. ...

Alternative investing boom has spawned a fee frenzy.(BULLS & BEARS)(Industry overview)
January 1, 2007... Readers of this column know I've been critical of the institutional-feeding frenzy that is pouring fiduciary money into alternative investments. My premise isn't that institutions all will end up losing a lot of money by investing in...

No need to fret over sputtering transport stocks.(INVESTING)
January 1, 2007... Recent weakness in a major U.S. stock index has some experts and investors calling the bear out of hibernation. The Dow Jones Industrial Average probably is more closely followed than any other market indicator in the world, but the index...

Get ready for some serious payroll envy.(ECONOMIC ANALYSIS)
January 1, 2007... If headlines about high executive pay make your face turn red, you might want to avoid the news for the next few weeks. This is the time of year that the big Wail Street firms award their yearend bonuses, and they will almost certainly be huge....

The Steak n Shake Co.(PROXY CORNER)(Company overview)
January 1, 2007... The Steak n Shake Co,, 36 S. Pennsylvania St., Suite 500, Indianapolis, 46204 (www.steaknshake.com) operates restaurants primarily in the Midwest and Southeast. For the fiscal year ended Sep. 27, 2006, the company reported net income of $28...

Good news ministries.(NOT-FOR-PROFIT OF NOTE)(Organization overview)
January 1, 2007... 2716 E. Washington St. Indianapolis, IN 46201 Phone: 638-2862/fax: 263-9907 Web site: www.goodnewsministries.com Founded: 1950 Paid employees: 18 Highest-paid staff member: Dan Evans, executive director; $53,760 ...

Appeals court upholds Lilly's Zyprexa patent.(Stories reported in IBJ daily: Thurs., Dec. 21 - Wed., Dec. 27)
January 1, 2007... A federal appeals court on Dec. 26 let stand a lower court's ruling upholding Eli Lilly and Co.'s Zyprexa patent, which expires in 2011. Lilly had accused Miami-based Zenith Goldline Pharmaceuticals Inc. of patent infringement in a lawsuit...

CEO of embattled local library to leave.(Stories reported in IBJ daily: Thurs., Dec. 21 - Wed., Dec. 27)(Brief article)
January 1, 2007... Linda Mielke will leave her post as CEO of the Indianapolis-Marion County Public Library on Jan. 15, the library's board said Dec. 22. Mielke will be paid nearly $70,000 in severance, as called for in her contract. Mielke, who recently was...

Adesa to be taken private by equity groups for $3.7b.(Stories reported in IBJ daily: Thurs., Dec. 21 - Wed., Dec. 27)(Brief article)
January 1, 2007... Carmel-based auto-auction firm Adesa Inc. announced Dec. 22 that it is being acquired by a group of private equity investors for $3.7 billion. The deal is not expected to affect Adesa's 760 Indianapolis-area employees. The buyers are...

Thomson selling accessories unit for $50m-plus.(Stories reported in IBJ daily: Thurs., Dec. 21 - Wed., Dec. 27)(Brief article)
January 1, 2007... French manufacturer Thomson plans to sell its electronics-accessories business in Carmel to Audiovox Corp. for $50 million plus an undisclosed fee to be paid over five years for the use of the RCA name brand. The deal involves about 75...

WFYI may buy former Indiana Energy HQ.(Stories reported in IBJ daily: Thurs., Dec. 21 - Wed., Dec. 27)(Brief article)
January 1, 2007... The board of directors of the Metropolitan Indianapolis Public Broadcasting Inc. has given preliminary approval to a proposal to move the public broadcaster's offices to 1630 N. Meridian St. if a purchase agreement can be finalized. The...

Internet directory.(software, architectural and marketing companies)(Directory)
January 1, 2007... * 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...

Market Square developer dropped.(Indianapolis city leaders cut ties with Market Square L.P.)(Brief article)
January 1, 2007... Plans for redeveloping the former Market Square Arena site spent most of 2006 in a familiar place: limbo. But after four contract extensions, city leaders finally announced in November that they were cutting ties with Market Square Partners...

Big changes roil shopping scene.(Other top business stories from '06)(retail industry)(Brief article)
January 1, 2007... The Indianapolis retail scene experienced a major shakeup in 2006. Among the year's major retail stories: * Seattle-based Nordstrom Inc. announced plans to take an anchor space at the Fashion Mall at Keystone at the Crossing, giving the...

IU, Purdue seek new presidents.(Indiana University's Adam Herbert planning to retire)(Purdue University's Martin Jischke may retire after providing so many services)(Brief article)
January 1, 2007... The heads of the state's two largest public universities this year said they're heading for greener pastures, presenting new opportunities for Indiana University and Purdue University at critical times. Both schools are more important than...