Indianapolis Business Journal articles from May 2007

Indianapolis Business Journal archives from May 2007

Fallout smacks ad biz; loss of $20m Gregg account leads to big cuts at Pearson; specialty firms also reeling.(Hhgregg breaking contracts with Pearson McMahon Fletcher England)
May 7, 2007... Hhgregg's decision to take its $20 million-plus advertising account out of state is sending shock waves through the local creative community. The Indianapolis-based electronics and appliance retailer's longtime agency of record, Pearson...

Museum seeks leader to stem slide; new venue's attendance falls, hurting finances.(Indiana State Museum opened )
May 7, 2007... The new Indiana State Museum building--a 230,000-square-foot study in glass, steel and limestone--opened in 2002 to blockbuster attendance, with nearly 260,000 of its 614,000 total visitors checking out the exhibits. Fast forward to its...

Taking on Goliath: entrepreneur sees niche for for-profit alternative to IU School of Law.
May 7, 2007... Dick the Butcher, in Shakespeare's "Henry VI," wanted to kill all the lawyers. Even some lawyers want to off their opposing counsel. But Mark Montefiori wants to create a law school to birth perhaps hundreds more of them each year. He...

Biz interests scored wins; economic development leaders wanted more from Legislature, but could have fared worse.
May 7, 2007... A month ago, Indiana Secretary of Commerce Nathan Feltman was on pins and needles. In their first version of the next state budget, legislators had ignored his request for new cash to underwrite economic development. By the final swing of...

Avenue's East End poised for rebirth; sleepy section of Mass Ave may spruce up; developer proposes hundreds of residences.
May 7, 2007... Bustling foot traffic at lunchtime and at night helps sustain many of the restaurants, shops and galleries in the vibrant Mass Ave downtown neighborhood. But few of the Massachusetts Avenue shoppers and diners on foot venture east of the...

Shops shake low-end image; not-for-profit thrift stores draw well-heeled.
May 7, 2007... Thrifty Threads store manager Tim Waldrip can hardly keep up when he puts stylish used clothes on the thrift store's mannequins. Customers snag them so quickly he has to change the outfits three to four times a day. Regardless of what its...

Private equity players may be primping firms for IPOs.(BEHIND THE NEWS)
May 7, 2007... It's an age-old strategy: A private equity farm buys a company, bolsters its performance, then pockets a tidy profit by taking it public or selling it outright. Los Angeles-based Freeman Spogli & Co., the majority owner of Hhgregg Inc. the...

O'Reilly Auto Parts puts growth in high gear; relationship with local track big part of plan for retail, distribution expansion.
May 7, 2007... Few Hoosiers had heard of O'Reilly Auto Parts before the Missouri-based company built a massive distribution center in Hendricks County and bought the naming rights to Indianapolis Raceway Park last June. Now, the company, which was...

Flood of traffic latest twist in RiverPlace battle; Indianapolis planners find traffic impact study for Fishers project leaky.
May 7, 2007... Environmentalists who lost a court battle to stop RiverPlace on grounds it will cause flooding upstream along the White River have been buoyed by concerns raised by Indianapolis officials that the 69-acre development could create a torrent of...

Two more Central Canal competitors unveiled; The Marion County Alliance of Neighborhood Associations may ask the city and state for more public input.
May 7, 2007... A 140- to 160-room boutique hotel straddling the Central Canal has been added to the mix of proposals to develop a nearly one-acre parcel the state owns but wants to lease out for development. Four groups submitted plans by an April...

State's big colleges don't lead way in presidential pay; chiefs at IU, Purdue, Ball State haven't crossed half-million-dollar mark, but there are perks aplenty.(Survey)
May 7, 2007... Competition for top college presidents is intense these days. But neither Indiana University nor Purdue University trustees appear willing to break the bank to make sure they're landing the right leader. About one in six of the public...

Former sales rep alleges Ohio roofing firm overcharged; Tremco denies civil charges of unfair business practices in its work for Indiana school corporations.
May 7, 2007... A longtime sales representative for one of the roofing industry's largest manufacturers alleges his former employer defrauded Indiana public schools out of more than $1.5 million. Brennen Baker charges that the company, Beachwood,...

Attorney recognized for improving accessibility of public facilities.(award for Gregory S. Fehribach )(Brief article)
May 7, 2007... The Osteogenesis Imperfect a Foundation Inc. will honor local attorney and accessibility consultant Gregory S. Fehribach May 12 for his work to improve accessibility of public facilities. Fehribach will receive the Unbreakable Spirit Award...

Plenty to tackle in 2008 session: most local reforms left on the table.(EDITORIAL)(Editorial)
May 7, 2007... The legislative session that just ended might be best characterized by the old saying "good enough for government work." Government usually doesn't work effectively without compromise, and compromise often results in half measures that are...

The classy dame is still classy.(Commentary)
May 7, 2007... "Pat Miller is a classy dame." Michael S. Maurer, Indianapolis Star, Dec. 13, 2005 The above response to an Indianapolis Star reporter on the occasion of Pal Miller's resignation as secretary of commerce was meant with all sincerity to be...

Earnings per job up, but not all is well.(EYE ON THE PIE)
May 7, 2007... Economic development is all about gaining jobs and increasing earnings per job. The U.S. Bureau of Economic Analysis (BEA) just released county level earnings and employment data for 2005. "Who cares?" you say. "You should," I say....

Why we should shorten election cycles.(Commentary)
May 7, 2007... On May 8, the handful of the state's population that's been paying attention to local issues will go to the polls to vote in the municipal primary election. On May 9, we'll know who the winners are. Then, for the next seven months, voters will...

Ivy Tech offers more numbers to consider.(Letter to the editor)
May 7, 2007... Your article "Degree Drought" [April 23] pointed out a concern everyone at Ivy Tech Community College is determined to address. Ivy Tech's mission is multifaceted. Because we serve many students with differing objectives, it's important to...

Butler booster.(Letter to the editor)
May 7, 2007... Thanks for the article on Brad Stevens [Bill Benner's April 16 column]. I'm also delighted about the article on the difficulty facing Butler [University] in keeping the program as a top tier competitor ["Chasing the Big Dogs," April 16]. ...

Wandering Indiana, a rich legacy.(Letter to the editor)
May 7, 2007... Regarding Mike Redmond's "New plate options better than the 'Wander' Years" [April 16], a bit of research might have acknowledged the success of that campaign. The premise behind that program was to slow down tourists as they dissected Indiana...

Gambling quenched lawmakers' appetite for new revenue.(STATEHOUSE DISPATCH)
May 7, 2007... The 2007 session of the Indiana General Assembly is now history. Whatever else might have been involved in shaping its outcome, nothing was so determinative as the revelation in the closing days that property taxes--driven by the first...

Tax rebate plan befuddles assessors.(ON THE BEAT)(Brief article)
May 7, 2007... Legislators spent their last days in the General Assembly this year trying desperately to blunt the impact of an expected 24-percent average residential property tax increase. Their ultimate solution: $550 million in rebate checks. But...

Grants Al-la Gore.(ENVIRONMENT)(Brief article)
May 7, 2007... Al Gore would be proud. The state is giving out $100,000--what some reckon the Global Warming Prophet of Doom spends on jet fuel for speaking engagements each year--to not-for-profit agencies and other community development groups as an...

Controversial hospital ready to open for long-term patients.(HEALTH CARE)(St. Vincent Indianapolis Hospital)(Brief article)
May 7, 2007... St. Vincent Indianapolis Hospital will open its Seton Specialty Hospital facility May 8. The 74-bed facility will accommodate St. Vincent's most severely ill patients, who require hospitalization lasting more than 28 days. St. Vincent...

First Indiana hires Publicis to aid major expansion.(MEDIA & MARKETING)
May 7, 2007... First Indiana Bank has hired the local office of global advertising agency Publicis for all its advertising, branding, media planning and public relations, according to First Indiana officials. Financial terms of the agreement were not...

Hasbro has inked a multiyear deal with Indianapolis Colts.(MEDIA & MARKETING)(Brief article)
May 7, 2007... Hasbro has inked a multiyear deal with Indianapolis Colts quarterback Peyton Manning focusing on the company's Neff brand. The first signature Manning Neff item is the Peyton Manning Pro Grip Football, which will hit the market this spring....

Indy Reads adjusts to life without library's help.(PHILANTHROPY)(Brief article)
May 7, 2007... Indy Reads has been reading up on the concept of fund raising. Starting this year, its operational expenses aren't covered by the Indianapolis Marion County Public Library. But the 22-year-old group that provides free basic literacy...

Developer buys another chunk of Central State land.(REAL ESTATE)(Brief article)
May 7, 2007... A development team that bought 115 acres at the former site of Central State Hospital has agreed to buy another 33 acres from the city, at a cost of $223,500. The developers--Mike Higbee of Development Concepts Inc. and Charles Garcia of...

A construction boom for pharmacy, slider-seller.(RETAIL)(Brief article)
May 7, 2007... Walgreens Co. and White Castle System Inc. both have embarked on aggressive plans to build stores in the Indianapolis area. Walgreens plans to open three stores in the coming months. A 14,800-square-foot store is under construction at the...

Drum group still looking for permanent home.(Percussive Arts Society)(Brief article)
May 7, 2007... The Percussive Arts Society's move from Oklahoma to Indianapolis is now a done deal. The group's four onsite employees moved into temporary offices in the Symphony Centre at 32 E. Washington St. in early April. The society, which is adding...

Federal grant pays for express bus from downtown to airport.(TRANSPORTATION)
May 7, 2007... The Indianapolis Public Transportation Corp. has confirmed plans to launch an express bus to Indianapolis International Airport, probably late this summer or in early fall. IndyGo officials recently presented details of the route, which is...

Indiana Investment Fund reveals local deals worth $78.2 million.(VENTURE CAPITAL)
May 7, 2007... Gov. Mitch Daniels' strategy to diversify Indiana's largest pension funds into local investment opportunities has begun to pay off. On April 27, the Indiana Public Employees' Retirement Fund announced $78.2 million in commitments from its...

The Hagerman Group.(CONSTRUCTION)
May 7, 2007... * Chris Hill has joined The Hagerman Group as a receptionist. Rhiannon de Hebreard has joined as administrative assistant.

Shiel Sexton.(CONSTRUCTION)(appointments)(Shiel Sexton Company Inc.)(Brief article)
May 7, 2007... Shiel Sexton has added the following: Brian Lewis, project coordinator; Steve Jenkinson, project superintendent; and Jay Hostetter and Scott Casper, project managers. John Andrews has been promoted to director, business development, and Deb...

Baker & Daniels LLP.(LAW)
May 7, 2007... Amy Judge-Prein has joined Baker & Daniels LLP as of counsel. Tenley L. Drescher-Rhoades has rejoined the firm as an associate, public finance practice group.

Cohen & Malad LLP.(LAW)
May 7, 2007... Gabriel A. Hawkins has joined Cohen & Malad LLP as an associate.

WKLU.(MEDIA)
May 7, 2007... John Aikin has joined WKLU as e-business director, and April Aikin has joined as office and sales assistant.

Scofield Editorial.(MEDIA)(Editorial)
May 7, 2007... Bradley Stone has joined Scofield Editorial as 3D graphic designer.

Comcast.(MEDIA)
May 7, 2007... Lisa Schilling has joined Comcast as regional vice president of human resources.

Indiana Construction Roundtable.(PROFESSIONAL/TRADE)(appointments)(Brief article)
May 7, 2007... The Indiana Construction Roundtable has named the following officers: John Lambert, Eli Lilly and Co., chairman; Thomas Ringham, Wishard Health Services, vice chairman; Kevin Kenyon, Ball State University, secretary; James Dillard, Citizens...

Indiana Sports Corp.(SPORTS)
May 7, 2007... Mike Pruzin has joined Indiana Sports Corp. as membership manager. Douglas R. Brown, Stewart & Irwin PC, has been named to the board.

Old Dominion Freight Line Inc.(TRANSPORTATION)
May 7, 2007... Michael Post has been promoted to shop manager at the Indianapolis service center, Old Dominion Freight Line Inc.

Central Indiana Power.(UTILITIES)
May 7, 2007... Central Indiana Power has named the following officers: Steve Vail, chairman; Jim Cherry, vice chairman; Jim Gillett, secretary/treasurer; and Tom Seng, president.

Interactive poised to make incentives pay; communications software-maker to add 637 jobs.(Focus: TECH QUARTERLY)
May 7, 2007... Interactive Intelligence Inc. has come full circle. On May 2, Marion County's Metropolitan Development Commission was slated to review a 10-year property tax abatement for the communications software maker. If the incentive is approved,...

Informatics job 'special' to dean: new leader of prominent IU school says no other offer could have lured him away from Colorado.(Bobby Schnabel, Indiana University. School of Informatics)
May 7, 2007... Even before Bobby Schnabel became a candidate to take charge at the Indiana University School of Informatics, he knew enough about the program to know he wanted to lead it. By ending his 30-year affiliation with the University of Colorado...

Design changes afoot for state Web pages; online renovation includes search-engine upgrade that features Scott Jones' ChaCha instead of Google.(FOCUS: TECH QUARTERLY)(ChaCha Search Inc.)
May 7, 2007... A redesigned state Web portal unveiled last month should make it easier for Hoosiers to plow through mounds of government minutia. But, more important, the revamping set to be finished in mid-2008 represents a major shift in state policy....

Amended e-discovery rules create legal hoops for biz.(VOICES FROM THE INDUSTRY)
May 7, 2007... You've already heard about electronic information and the law. The I. Lewis "Scooter" Libby trial, the recent firing of eight U.S. attorney--even the Monica Lewinsky scandal-involved e-mail messages that were called into court. The rules...

Not-for-profits receive computers from Sky Bank.(FOCUS: TECH QUARTERLY)(Brief article)
May 7, 2007... Sky Bank is donating more than 70 computers to 16 area schools and not-for-profit organizations. Among the recipients are Wheeler Mission, Providence Cristo Rey High School, the John Boner Community Center and King Park Area Development...

Largest Indianapolis-area computer training companies.(FOCUS: TECH QUARTERLY)(Directory)(Table)(Company rankings)
May 7, 2007... Largest Indianapolis-Area Computer Training Companies (Ranked by number of students trained in 2006 at local sites) 2006 STUDENTS LOCATIONS: ...

With bull market raging, investor advises caution.(BULLS & BEARS)
May 7, 2007... "It's Everywhere, In Everything: The First Truly Global Bubble." The title of this recent newsletter sounds a lot like one of those "doom and gloom" books out to make a quick buck playing on investor emotions. The only thing is, those...

Semiconductor strength bodes well for overall market.(INVESTING)
May 7, 2007... The rally off the March low was powerful, and a few things happened that might reveal a change in the nature of this bull market. If there is an evolution and we've identified it, a rotation is called for that will keep us in the sweet spot of...

Signs of economic trouble are beginning to surface.(ECONOMIC ANALYSIS)
May 7, 2007... There is a character in an old Hunter S. Thompson novel who shows up in every scene sweating profusely. Halfway through the book, he finally explains it--sweating is normal. It's when he stops sweating that the alarm bells should sound. ...

NiSource Inc.(brief)(Financial report)
May 7, 2007... NiSource Inc., 801 E. 86th Ave., Merrillville, 46410 (www.nisource.com) is a holding company with operations that produce, transmit and distribute natural gas and electricity. For the year ended Dec. 31, the company reported net income of...

College mentors for Kids Inc.(NOT-FOR-PROFIT OF NOTE)(Organization overview)
May 7, 2007... 212 W. 10th St. Indianapolis, IN 46202 Phone: 921-1798/fax: 921-1799 Web site: www.collegementors.org Founded: 1995 Paid employees: five Highest-paid staff member: Erin Slater, CEO, $65,000 Top volunteers: Kurt...

Conseco opens bidding for 49 acres in Carmel.(Stories reported in IBJ daily: Thurs., April 26-Wed., May 2)(Brief article)
May 7, 2007... Parties interested in purchasing 49 acres of undeveloped Carmel land from Conseco Inc, have until May 16 to submit bids for the property. Indianapolis brokerage Resource Commercial Real Estate announced the bid deadline April 30. The...

Simons donate $2.4 million to St. Vincent.(Stories reported in IBJ daily: Thurs., April 26-Wed., May 2)(Bren Simon)(Brief article)
May 7, 2007... Bren Simon announced April 30 a $2.4 million gift to furnish St. Vincent Hospital's new primary care center, which is set to open this fall at 8414 Naab Road across the street from the West 86th Street hospital. Simon and her husband, mall...

21st Century Fund renewed by General Assembly.(Stories reported in IBJ daily: Thurs., April 26-Wed., May 2)(Brief article)
May 7, 2007... Central Indiana business leaders cheered the General Assembly's decision to provide two more years of funding for the state's 21st Century Research and Technology Fund. The $70 million allotment is $5 million less than during the past...

Court rules in favor of power company insurers.(Stories reported in IBJ daily: Thurs., April 26-Wed., May 2)(Brief article)
May 7, 2007... The Indiana Supreme Court ruled May 1 that insurance carriers are not required to pay power utilities' costs to install pollution equipment or to pay utilities' legal costs to defend against lawsuits that forced them to upgrade air quality. ...

Standard Management tries failed deal again.(Stories reported in IBJ daily: Thurs., April 26-Wed., May 2)
May 7, 2007... A deal that fell through a year ago is back on the table for Standard Management Corp. The Indianapolis company, which sells pharmaceuticals to nursing homes, said May 1 it has agreed to buy In-House Pharmacies Inc. of San Diego--this time...

Calendar.(RECORDS)
May 7, 2007... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. May 7, 7 a.m.: Business & Professional Exchange, Career Networking, North chapter, St. Luke's United Methodist Church, Fellowship...

Conventions.(RECORDS)(Calendar)
May 7, 2007... May 7-11, Association for Iron & Steel Technology, Indiana Convention Center & RCA Dome. Estimated attendance: 2,500

Fund raising.(RECORDS)(Calendar)
May 7, 2007... United Way of Central Indiana to benefit from United on Broadway featuring Monty Python's Spamaiot 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 spamaiot@uwci.org. The...

Relocation.(RECORDS)
May 7, 2007... Indianapolis Veterinary Emergency Center has moved to 5425 Victory Drive.

From paper to pocket PC: Wireless product streamlines mobile data collection.(Indiana Bureau of Child Care using Wireless Webforms)
May 7, 2007... When the Indiana Bureau of Child Care was looking for an electronic solution to collecting data for licensing child care facilities, it turned to Wireless Webforms. A spin-off of Indianapolis-based computer technology firm Consultants...

Children's Bureau wins award.(Brief article)
May 7, 2007... The Children's Bureau has won an international award from one of the largest charitable organizations accredited by the United Nations. The Karnataka, India-based Art of Living Foundation gives the Heroes of Humanity Award to organizations...

Pacers create a club for 13 and under.(Indiana Pacers)(www.Pacers.com)(Brief article)
May 7, 2007... The Indiana Pacers have announced the creation of Pacers Kids Club. Pacers Kids Club will debut for the 2007-08 season, but children can join anytime by visiting www.Pacers.com or picking up a brochure at Conseco Fieldhouse or either Home Court...

Production revels in own irreverence.(OUR TAKE)(Reefer Madness! The Musical)
May 7, 2007... You're supposed to exit musicals humming the overture and, as weird as it may sound, you'll leave Theatre on the Square's energetic production of "Reefer Madness! The Musical" with the words "reefer madness, ree-fer mad-ness" on your lips and a...

On a roll: day jobs may differ, but teammates come together for roller derby bouts.(AFTER HOURS)
May 7, 2007... This stage manager, chemistry lecturer and sous chef may not use the stone jargon in their day jobs, but on evenings and weekends the three Indianapolis women unite at roller rinks to become "blockers," "pivots" and 'jammers." Amber...

Thank you, Indiana legislators, for all you do.(NOTIONS)
May 7, 2007... Sometimes, when I leave the office at lunchtime with one or more colleagues, the conversation goes something like this: "So, where do you wanna eat?" "I dunno. Where do you wanna eat?" "I don't care. How 'bout Nordstrom?" ...

Remember who led Pacers out of the wilderness.(SPORTS)
May 7, 2007... I put my faith and trust in people who have proven themselves over the long haul. Which is why I choose to be one--one of the few, I'm guessing--who believes Donnie Walsh and Larry Bird will pull the Indiana Pacers out of their tailspin....

Welcome to the Indianapolis region.(economic development region )
May 7, 2007... The Indianapolis region is a key business destination for employers across the globe. Many cite the region's progressive economic development programs, low business costs and world-class education as reasons why. A central location and...

Life sciences.
May 7, 2007... Indiana is one of the nation's top four life sciences leaders as defined by the number and concentration of life sciences-related jobs, according to "Growing the Nation's Bioscience Sector: State Bioscience Initiatives 2006," a report from the...

Motorsports.
May 7, 2007... For nearly a century, Indianapolis has been synonymous with motor racing. From IndyCar to NASCAR to funny cars to midgets, no place else in the world has the variety of racing events the Indianapolis region has. Just three of those races--the...

Transportation, distribution & logistics.
May 7, 2007... With 1,500 logistics-focused companies employing over 50,000 experienced workers, the Indianapolis region is one of the most important distribution centers in the country, a role that is growing every day. The most centrally located major city...

Advanced manufacturing.(and effect on economy)
May 7, 2007... Manufacturing has driven the Indianapolis region's economy for generations--from the founding of Eli Lilly and Co. here in 1876 through the rise of the auto industry and now into the information age. "We have a huge heritage in...

Information Technology.(and Indiana's economy)
May 7, 2007... Central Indiana doesn't immediately come to mind when you think of information technology companies--yet. The fact is the Indianapolis Region is home to market leading info tech companies and is becoming fertile ground for startups. ...

Corporate headquarters.(effecting Indiana's economy)
May 7, 2007... The Indianapolis region is becoming a key business destination for employers across the globe. Indiana is currently home to over 500 foreign companies from 36 countries. Many cite the region's progressive economic development programs, low...

Quality of life: business is about people--your employees, your customers, your competitors. But it's also about your friends and neighbors. And ultimately, the quality of life where you live and work affects you, your people and your business.
May 7, 2007... With its well-educated, motivated workforce, engaging neighborhoods and towns, vibrant culture and cultural opportunities, affordable housing and top-notch schools, the Indianapolis Region is a fun, safe and easy place to live. The area appeals...

About the Indy partnership: a regional economic development corporation.(serving to relocation of businesses to Indianapolis)
May 7, 2007... There are many reasons businesses move to or expand in the Indianapolis region: easy access to the country's top 100 markets, a well educated, experienced workforce, a lifestyle that's sophisticated, fun and affordable. But one of the best...

Boone County.(Boone County Economic Development Corp)
May 7, 2007... Years of planning and groundwork are paying off in Boone County, which became home to three new corporate headquarters last year. With major infrastructure projects nearing completion, the giant mixed-use planned community of Anson is beginning...

Hamilton County.(Marcadia)(Indiana Economic Development Corporation)
May 7, 2007... One of the most desired economic development targets of Hamilton County is life sciences. With its roster of blue chip life sciences companies--Lilly, Cook and Roche--and the experienced talent they can supply, central Indiana is an attractive...

Hancock County.
May 7, 2007... Bisected by Interstate 70, Hancock County's strategic location makes Pit a prime location to access markets across the United States, a competitive advantage for companies located there. In addition to 1-70, Interstates 65, 69 and 74 are less...

Hendricks County.
May 7, 2007... Hendricks County's location near major highways, air and rail transportation systems makes it an ideal one for business parks and distribution centers. The county is served by multiple interstates, and air service to locations worldwide is...

Indianapolis/Marion County.
May 7, 2007... Indianapolis is nearing the completion of huge new developments that highlight its role as a major player among American cities and lay the groundwork for future economic expansion. Downtown--and the city's capacity as a host for major sporting...