Indianapolis Business Journal articles from March 2009

Indianapolis Business Journal archives from March 2009

Hard work, but no pay: for unemployed, searching for job is full-time endeavor.
March 2, 2009... The most up-to-date report about white-collar job losses in Indianapolis comes every Monday at dawn in the parking lot at St. Luke's United Methodist Church. The number of cars that pull in to attend the weekly gatherings of the Business...

Hotels wary of shouldering larger load: raising already-lofty lodging levy could cause convention planners to bypass Indianapolis.
March 2, 2009... Raising Indianapolis' tax on hotel rooms--already one of the highest rates in the nation--could be the tipping point that causes conventioneers to bypass Indianapolis, some industry experts say. Marion County hotels already pay 16 percent...

Indiana plotting pension merger: public worker, teacher funds have lost $8B in 15 months.
March 2, 2009... The State's two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive director and board. [ILLUSTRATION OMITTED] And they'll need only one tourniquet to stem their bleeding. ...

Ringing up fewer sales: Brightpoint adjusts as wireless demand finally cools off.
March 2, 2009... [ILLUSTRATION OMITTED] Forget for the moment Brightpoint Inc.'s $344 million loss in the fourth quarter. It was mostly indigestion in the form of a goodwill impairment charge from buying Europe's biggest wireless distributor in 2007. ...

Will shoppers buy $18 fly swatters? IMA's new design store bucks frugality trend.(Indianapolis Museum of Art)
March 2, 2009... Fritz King pines for a $65 dish rack. It isn't just any dish rack. This is bright orange polypropylene filled with green-tipped dish-holding fingers. The punchy, futuristic houseware calls to King from a high shelf at the Indianapolis...

IPL plots 'smart' options: latest plan to stave off upgrades of power plants would cost at least $31m.(Indianapolis Power & Light)
March 2, 2009... In a move to delay construction of expensive new generating capacity, Indianapolis Power & Light' wants to roll out "smart" electric meters to help customers conserve electricity. The meters would allow for time-of-use electricity pricing...

Geist restaurateur buffeted by financial squalls.(Bella Vita restaurant )
March 2, 2009... The Bella Vita restaurant overlooking Geist Marina serves up one of the most serene settings in central Indiana. Owner Henri Najem and his wife, Shelley, work hard behind the scenes to provide diners with upscale Italian food in a relaxed...

Creative Street scores with online education: local communications firm's initiatives go nationwide.
March 2, 2009... The rising popularity of online education is ringing up sales for a local firm better known for video production. Indianapolis-based Creative Street Media Group recently signed deals with the NCAA and National Federation of State High...

Marvelous Marvin's numbers work against team this time.(Marvin Harrison contract with Indianapolis Colts)(Brief article)
March 2, 2009... [ILLUSTRATION OMITTED] This time, Marvin Harrison's big numbers didn't benefit the Indianapolis Colts. The team released the record-breaking receiver Feb. 24 because of the $13.4 million impact his contract would have had on the Colts'...

C.P. Morgan Communities.(Brief article)
March 2, 2009... Indianapolis-based home builder C.P. Morgan Communities closed its doors for good Feb. 27, another victim of the worst housing slump in a generation. We believe our industry will be in trouble for many months to come," founder Charles E Morgan...

Rolls-Royce PLC.(Brief article)
March 2, 2009... Rolls-Royce PLC's new 10-year, $400 million agreement to produce helicopter engines brings another surge of business to the company's 4,300-employee Indianapolis manufacturing plant. Rolls-Royce said Feb. 23 it will supply Fort Worth,...

Cummins Inc.(Brief article)
March 2, 2009... Columbus engine maker Cummins Inc. said Feb. 24 that it planned to cut 985 employees worldwide by the end of the week, including 460 in Indiana. In January, the company announced it would cut "at least 800" by the end of February. Cummins has...

Borders Group Inc.(Brief article)
March 2, 2009... Michigan-based Borders Group Inc. is looking for a replacement tenant for its 22,000-square-foot bookstore at the high-profile corner of Meridian and Washington streets downtown. Officials confirmed Feb. 23 that they are marketing the property,...

Delta Faucet Co.(Brief article)
March 2, 2009... Carmel-based Delta Faucet Co. laid off 77 employees at its Greensburg plant Feb. 27--the company's sixth round of cuts within the past two years. Delta Faucet has laid off more than 400 workers since early 2007. The new cuts will leave about...

Indiana Blood Center.(ON THE RECORD)(Brief article)
March 2, 2009... The Indiana Blood Center eliminated 32 positions Feb. 20, saying it needs to trim operating costs. The cuts represent 6.5 percent of the local not-for-profit's work force. CEO Byron Buhner said staff cuts won't affect the center's service to...

WellPoint Inc.(Brief article)
March 2, 2009... Locally based health insurer WellPoint Inc. predicted weak but positive growth for 2009, despite expectations that total customer enrollment will fall 3 percent. CEO Angela Braly told investors Feb. 24 that the health insurer's profit would...

Delphi Corp.(ON THE RECORD)(Brief article)
March 2, 2009... A bankruptcy judge on Feb. 24 tentatively approved Delphi Corp.'s request to stop paying for its salaried retirees' health and life insurance, ruling that the auto-parts supplier has a right to change the retirees' benefits under bankruptcy law...

A sugar-free wine made by Plainfield-based Chateau Thomas made its way into celebrity gift baskets at the 81st annual Academy Awards Feb. 22--giving the area winery some national exposure.(ON THE RECORD)(Brief article)
March 2, 2009... A sugar-free wine made by Plainfield-based Chateau Thomas made its way into celebrity gift baskets at the 81st annual Academy Awards Feb. 22--giving the area winery some national exposure. Slender, a Chateau Thomas line of three sugar-free...

Conseco Inc.(Brief article)
March 2, 2009... Carmel insurer Conseco Inc. is scheduled to report its fourth-quarter financial resuits before the markets open March 2. Executives say they expect improving results, in spite of the economy, because the middle-income consumers Conseco targets...

Mayor's Lunch for Parks.(Indianapolis Parks Foundation)(Brief article)
March 2, 2009... With the Indianapolis Parks and Recreation budget cut by nearly $3 million for 2009, there likely will be a lot of interest in what Mayor Greg Ballard and new department head Stuart Lowry have to say March 5 at the annual Mayor's Lunch for...

PNC plans return to 'old-fashioned' lending standards: National City acquirer will build upon 'core bank'.(Q & A)(Interview)(Company overview)
March 2, 2009... Pittsburgh-based PNC Financial Services Group Inc. acquired struggling National City Corp. on Dec. 31 for $5.6 billion. Before their merger, PNC had no presence here, while Cleveland-based National City had 172 Indiana branches, including 75 in...

Don't give up on local reform: township offices have to go.
March 2, 2009... Most Hoosiers fall under the jurisdiction of 26 separate local government officials. Indiana has 239 library districts, 293 school districts, 886 "special" districts, 1,008 townships and 10,300 local officials. What is it going to take for...

Hall of Fame stories teach lessons.(American Red Cross Hall of Fame program)(Viewpoint essay)
March 2, 2009... [ILLUSTRATION OMITTED] Judging acts of heroism for the American Red Cross Hall of Fame program is always an education and inspiration. It's powerful stuff to read about professionals going above and beyond the call of duty and about...

Corrections.(EDITORIAL)(Correction notice)
March 2, 2009... * The Crowne Plaza Indianapolis Airport hotel, 2501 S. High School Road, was inadvertently omitted from the list of upscale Indianapolis-area hotels on page 20 last week. With a lowest room rate of $169 per night, Crowne Plaza Indianapolis...

War did not end the Great-Depression.
March 2, 2009... It's time to set the record straight. It was not World War II that moved America out of the Great Depression. When we talk about the American economy, we discuss the actual or "real" goods and services produced in this country. To...

Girl Scouts taught lifelong lessons.(VIEWPOINT)(Viewpoint essay)
March 2, 2009... Some of Indiana's most high-profile women have something in common beyond their gender and community status: They were Girl Scouts. Local leaders such as WellPoint CEO Angela Braly, AES Corp. CEO Ann Murtlow and Purdue University President...

Unemployment taxes could break small biz.(LETTERS)(Letter to the editor)
March 2, 2009... I read your article [on unemployment insurance in the Feb. 23 issue]. About three to four years ago, my unemployment tax was 0.1 percent. Now it's 1.1 percent. And it will probably go up. Part of the reason for the deficit is: There are a...

Let's set record straight on benefits.(LETTERS)(Letter to the editor)
March 2, 2009... Rebuttal to assignment-of-benefits article [in the Feb. 2 Health Care Focus]: The insurance industry and [Indiana] Chamber of Commerce are providing misleading and untruthful statements to employers and their insured members about assignment of...

Nursing home column was on target.(LETTERS)(Letter to the editor)
March 2, 2009... I want to commend [Tawn Parent's Feb. 16 column] about overseeing a loved one's care while in a nursing home or rehab facility. One really does need to be vigilant and tenacious, no matter the reputation of the facility, as every day is...

Property-tax bill would hurt seniors.(LETTERS)(Letter to the editor)
March 2, 2009... The state Senate has approved a proposal to put limits on property tax bills into the Indiana Constitution. The measure now moves to the House for consideration. The proposal would limit property taxes to 1 percent of the assessed value of...

Here's the solution to economic crisis.(LETTERS)(Letter to the editor)
March 2, 2009... No need for more taxpayer bailouts and economic stimulus, if politicians would do the following: First, repeal all sales taxes and replace the lost revenue with an import tax/tariff on imported labor and manufactured goods. Second,...

Legislators preparing for the home stretch.
March 2, 2009... As you read this, lawmakers will be home gearing up for a grueling second half of the 2009 legislative session--two months in which the real heavy lifting will be done. You also need to take a deep breath, because we face some huge...

A merger of education and art.(Mind Trust sponsors art show featuring education-related art and presentations )(Brief article)
March 2, 2009... Here's a different way to promote education reform. The Mind Trust, an Indianapolis-based not-for-profit that supports education reform, is sponsoring an art show March 6 at the Hardson Center for the Arts that will feature...

Rolls-Royce unveils engine.(Rolls-Royce launching RR500TS helicopter engine)(Brief article)
March 2, 2009... Rolls-Royce is courting customers for its RR500TS helicopter engine, unveiled recently at Heli-Expo in Anaheim, Calif. If successful, the product could mean more work for a small engine-assembly line in Indianapolis that the Federal...

Kresge Foundation grants $1.5m to Children's Museum.(Brief article)
March 2, 2009... A $1.5 million Kresge Foundation grant will help The Children's Museum of Indianapolis close in on its $74 million fund-raising goal. "The Power of Children Campaign" was announced publicly last June, and has already cOllected $69 million...

School makes move into historic Lockerbie building.(Todd Academy )(Brief article)
March 2, 2009... The private Todd Academy plans to move into a historic building at the northwest corner of East and New York streets in Lockerbie Square. The building is owned by locally based Axia Urban, which also is developing the Landmark at Lockerbie...

AIT Laboratories named 'Small Business of the Year'.(SMALL BUSINESS)(Brief article)
March 2, 2009... The Indiana Chamber of Commerce has named Indianapolis-based health care research and testing firm AIT Laboratories its 2009 Small Business of the Year. Founded 18 years ago, AIT has more than 200 employees, including 90 that it added last...

Local attorney is part of USATF board overhaul.(USA Track & Field board)(Brief article)
March 2, 2009... Baker & Daniels attorney Max Siegel was recently named to the USA Track & Field board and will play a role in a restructuring of the sports sanctioning body headquartered in Indianapolis. USATF CEO Doug Logan downsized the board from 31 to...

Airport concessions recognized.(Indianapolis International Airport recieves Best Concession Awards )(Brief article)
March 2, 2009... Indianapolis International Airport cleaned up at the Airport Revenue News' 2009 Best Concession Awards Feb. 15 in Orlando, Fla. The airport won among medium-size airports in the categories of best concession program design and best overall...

Vocational art school grows at Pyramids.(Art Institute of Indianapolis)(Brief article)
March 2, 2009... The Art Institute of Indianapolis is expanding its presence at the Pyramids with the addition of offices, classrooms, specialty labs and a lounge for its growing student population. [ILLUSTRATION OMITTED] The design, fashion and...

Tangram.(CIVIC/NOT-FOR-PROFIT)(Brief article)
March 2, 2009... [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] Tangram has named the following officers: *Nancy Cunning, chairwoman; . *David Jose, vice chairman; *Robert Fechtman, secretary; and Kevin Sullivan, treasurer....

Health Foundation of Greater Indianapolis.(Brief article)
March 2, 2009... The Health Foundation of Greater Indianapolis has elected the following board of trustees: John Hall, Housing and Urban Development; Monica Medina, Indiana University School of Education in Indianapolis; *David Suess, Bose McKinney & Suess...

International Violin Competition.(CIVIC/NOT-FOR-PROFIT)
March 2, 2009... Kurt Tornquist was named to the International Violin Competition board of directors.

Safe Sitter Inc.(CIVIC/NOT-FOR-PROFIT)
March 2, 2009... Safe Sitter Inc. has named the following new directors: * Barry Fishman, * Joan Lipsitz, and Dr. Molly Bozic. [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED]

Hamilton Centers Youth Service Bureau Inc.(Brief article)
March 2, 2009... Hamilton Centers Youth Service Bureau Inc. has added the following board members: Kim Bradley, Regions Bank; Vince Catania, Quantum Retirement Consultants; Jonathan Hunt, First Merchants Bank; John Kim, Eli Lilly and Co.; Angola Knowlton, ITT:...

Crossroads Industrial Services, Easter Seals Cross-roads.(CIVIC/NOT-FOR-PROFIT)
March 2, 2009... * Deanna Dennison has joined Crossroads Industrial Services, Easter Seals Cross-roads, as manager of business development. [ILLUSTRATION OMITTED]

Jewish Community Center.(CIVIC/NOT-FOR-PROFIT)
March 2, 2009... [ILLUSTRATION OMITTED] * Jeffrey A. Adams, Cohen Garelick & Glazier, has been named co-chair for the early childhood education department at the Jewish Community Center.

Lynn L. Lupold and Trisha Wlodarczyk have joined the University of Indianapolis' Center of Excellence in Leadership of Learning.(EDUCATION)(Brief article)
March 2, 2009... Lynn L. Lupold and Trisha Wlodarczyk have joined the University of Indianapolis' Center of Excellence in Leadership of Learning as a fellow for high school networks.

University of Indianapolis.(EDUCATION)(Brief article)
March 2, 2009... The University of Indianapolis has named the following new board of trustees: Bart Peterson, former Indianapolis mayor; Roland Dorson, Greater Indianapolis Chamber of Commerce; George Sherman Fleetwood, AT&T Indiana; Charles J. Garcia, Garcia...

IU School of Public and Environmental Affairs at Indiana University-Purdue University Indianapolis.(Eric R. Wright)(Brief article)
March 2, 2009... Eric R. Wright. Center for Health Policy at Indiana University, has been named associate dean of the IU School of Public and Environmental Affairs at Indiana University-Purdue University Indianapolis.

CME Enterprise.(EDUCATION)
March 2, 2009... Dr. Christine Lawless has been named medical director of CME Enterprise.

VEI.(HEALTH CARE)
March 2, 2009... * Jean Wojtowicz, Cambridge Capital Management Corp., has been named to the board of trustees of VEI, a for-profit arm of Community Health Network. [ILLUSTRATION OMITTED]

Indiana University Melvin and Bren Simon Cancer Center.(Brief article)
March 2, 2009... The Indiana University Melvin and Bren Simon Cancer Center has added the following members: Shreevrat Goenka, associate member of hematopoiesis, microenvironment, and immunology; Lisa Hess, associate member of cancer control; Dr. Michael G....

Wishard Health Services.(HEALTH CARE)
March 2, 2009... * Dr. Isaac Jordan Myers II has been named vice president of clinical and business integration for Wishard Health Services. [ILLUSTRATION OMITTED]

Herman B Wells Center for Pediatric Research at IU School of Medicine.(HEALTH CARE)
March 2, 2009... [ILLUSTRATION OMITTED] * Patrick T. Fueger has joined the Herman B Wells Center for Pediatric Research at IU School of Medicine as principal investigator.

St. Vincent Wound Healing Center.(HEALTH CARE)
March 2, 2009... * Dr. Chowdry Pinnamaneni has joined the St. Vincent Wound Healing Center as the medical director. [ILLUSTRATION OMITTED]

Advocate Hospice, Danville.(HEALTH CARE)
March 2, 2009... [ILLUSTRATION OMITTED] * Cathy Price has been promoted to vice president of Advocate Hospice, Danville.

St. Francis Hospital & Health Centers.(HEALTH CARE)
March 2, 2009... Chris DiGiusto has been named director of the Orthopedics/Neurosciences service line at St. Francis Hospital & Health Centers.

BioStorage Technologies Inc.(SERVICES)
March 2, 2009... Lori Ball has been promoted to senior vice president of global operations, sales and marketing at BioStorage Technologies Inc.

Slicing benefits: fearful companies are curtailing employee insurance, retirement perks.(Huntington Bancshares Inc.)
March 2, 2009... [ILLUSTRATION OMITTED] Huntington Bancshares last month stopped contributing to 401(k) retirement plans of its 650 Indiana workers. Earlier, Lafayette-based Wabash National Corp. trimmed the amount it gives to 401(k) plans for its 3,100...

Lilly relying on technology to spot management talent: intranet site allows drugmaker to fill positions quickly.(Eli Lilly and Co.)
March 2, 2009... Unearthing managerial prospects who may be toiling in obscurity right under executives' noses can be as challenging as a time-consuming outside search. That's particularly true for large corporations such as Eli Lilly and Co., which...

Largest Indianapolis-area retirement communities.(Directory)(Statistical table)
March 2, 2009... Largest Indianapolis-Area Retirement Communities (Ranked by independent-living units) INDEPENDENT- LIVING UNITS: ...

Experts call for 'integrative medicine'.
March 2, 2009... Popping a pill can cut your cholesterol. But did the doctor also prescribe cutting the stress that's eroding your immune system? Or teach you how to exercise without worsening painful joints? Think three P's: Good health care is preventive,...

With market still falling, cash remains good choice.(INVESTING)
March 2, 2009... How low can you go? A stock that dropped 77 percent in 2008 would have to be near some kind of bottom, fight? I guess not if the stock spent the first seven weeks of 2009 falling another 70 percent! The stock market leaves clues all...

Another tough week for Wall Street.(STOCKS)(Statistical table)
March 2, 2009... Volatility reigned over the financial markets during the week ended Feb. 25 as major indexes experienced huge swings while falling about 3 percentage points. The Dow Jones industrial average dropped 251 points Feb. 23 to its lowest level...

Market, not bailouts, should stimulate refinancings.
March 2, 2009... Six weeks ago, my financial adviser (aka wife) told me we were refinancing our house. What happened next--more than anything else that has happened this past year--made me truly uneasy about the pace of the economic recovery. We refinanced...

When is it time to chuck old equipment?(Viewpoint essay)
March 2, 2009... I guess I have to rescue my printer. It's an old inkjet, probably some 10 years or more old. I've never checked its age, actually. It came to me secondhand. It's never caused me any problems aside from the annoyance of having to use high-priced...

Pulliam Trust sponsors support for addicts.(Nina Mason Pulliam Charitable Trust provides donation to Fairbanks Alcohol and Drug Treatment Center for recovery management program)
March 2, 2009... [ILLUSTRATION OMITTED] The story behind the gift: The recovery experts at Fairbanks Alcohol and Drug Treatment Center view alcohol and drug addiction as a chronic disease that requires long-term management to prevent relapse. ...

Calendar.(RECORDS)(Calendar)
March 2, 2009... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com March 2, 7 a.m.: Business & Professional Exchange, North Side chapter, St. Luke's united Methodist Church, 100 W. 86th St. Contact...

Conventions.(RECORDS)(Calendar)
March 2, 2009... March 4-8, United Methodist Association, Hyatt Regency Indianapolis. Estimated attendance: 250 March 5-8, Big Ten Women's Basketball Tournament, Conseco Fieldhouse. Estimated attendance: 8,000

The Athenaeum Foundation.(FUND RAISING)
March 2, 2009... The Athenaeum Foundation to benefit from the St. Benno Fest on March 7 at 6 p.m. at The Athenaeum. Tickets: $20. Contact 655-2755.

LDM.(FUND RAISING)
March 2, 2009... LDM to benefit from the 17th Annual Food and Wine Fest on March 8 at the Mansion at Oak Hill in Carmel at 5 p.m. Contact 558-7239.

Largest Indianapolis-area assisted-living facilities.(Directory)(Statistical table)
March 2, 2009... Largest Indianapolis-Area Assisted-Living Facilities (Ranked by assisted-living units) ASSISTED- LIVING UNITS: ...

IAC turns the familiar into new art.(Indianapolis Art Center)
March 2, 2009... This week, familiar objects take on new looks and meaning at the Indianapolis Art Center. There is plenty to like and plenty to be annoyed by--at the Indianapolis Art Center, which is featuring a trio of related exhibitions through April...

Wheels of chance turn up a winner.(Dining Siam Square)
March 2, 2009... [ILLUSTRATION OMITTED] It wasn't the buzz that finally got us to DINING Siam Square, the Thai restaurant in Fountain Square we've heard so much about. No, SIAM we were led there by the luck of the draw. Or SQUARE the spin, as it were. ...

Schedule shift heats salsa war.(The Jazz Kitchen)
March 2, 2009... Nadia Alvarado calls herself a salsera. By day she works toward her master's in philanthropic studies at IUPUI, but five nights a week she lets down her raven hair, dons a swinging skirt and allows herself to be dipped and twirled across any...

YouTube isn't the only place to watch, share videos.(www.youtube.com)
March 2, 2009... By now, it seems nearly everyone on the planet has heard of YouTube (www.youtube.com), Google's popular video sharing site. You've probably either watched a video there--whether for research or to laugh at someone falling down. You might have...

Taking Sycamores to final looks easy in retrospect.
March 2, 2009... A friend asked me to share singular moments or entire movements that have changed the face of intercollegiate athletics over the years. Title IX would be a prime example. On my list was a game that took place 30 years ago this month. ...

Making way for 31: project means massive changes for booming retail corridor; Lauth sues over Wal-Mart snub.
March 9, 2009... Lauth Properties alleges in a lawsuit that the state's plan to rebuild 13 miles of U.S. 31 in Hamilton County to freeway standards will cut off access to a property it owns in Westfield, killing plans for a Wal-Mart there. The case filed...

End of builder means lots of trouble: C.P. Morgan's demise puts 2,000 home sites on market already overwhelmed with land.
March 9, 2009... The closure of home builder C.P. Morgan Communities already is a nightmare for its employees and many of its customers. But its impact on the market for new-home sites could be devastating and linger for years. The end of C.P. Morgan, the...

Medical records bonanza? Health care IT firms rushing to grab share of stimulus.
March 9, 2009... Grab a partner and dance. Fast. The stimulus bill passed last month essentially sets a five-year time line for doctors to start using electronic medical records and for states to figure out how to exchange those records from doctor to...

30-somethings aim for $1m: venture capital fund launched by up-and-comers buys into Vontoo, Compendium Blogware.
March 9, 2009... If angel investors have any hair left, it's usually gray from a lifetime spent in entrepreneurship. That's what makes Gravity Ventures LLC unusual. The 15 professionals who recently formed the $1 million fund are all in their 30s. "The...

Inventor gets the wood out; pencil made from scrap tires wins space on Staples' shelves.
March 9, 2009... [ILLUSTRATION OMITTED] John Erlandson's first idea for the reuse of scrap tires was to replace expensive cement grave-liners with a rubber casket vault. The notion popped into his head while he was selling grave markers, one of the...

Y&L starts digital unit; first rollout in decade: ad agency has high hopes for Here There Be Monsters.(Young and Laramore Advertising)
March 9, 2009... Young & Laramore, the city's largest advertising agency, has launched a division focusing on digital and design work. It's the first new division for the firm since it launched EchoPoint Media, its media buying arm, more than 10 years ago. ...