Indianapolis Business Journal articles from May 2009

Indianapolis Business Journal archives from May 2009

More franchises, fewer frills: Steak n Shake hoping to roll out lower-cost, limited-service stores.(Burger King Corp.)(Company overview)
May 4, 2009... TV spots for Steak n Shake Co. used to play up the chain's full-service restaurants, complete with friendly servers, real plates and glass ketchup bottles--a departure from the "workaraunts" operated by McDonald's and Burger King. Now,...

A smaller appetite: with pharma famine looming, Lilly relying on snack-size deals.(Eli Lilly and Co.)(Company overview)
May 4, 2009... [ILLUSTRATION OMITTED] Compared with some of his pharmaceutical CEO peers these days, John Lechleiter has his company on a diet. Instead of using a mega-merger to bulk up before the famine that patent expirations will bring on the...

Critics: tax hike 'defies logic': jobless-fund cure could be felt most by struggling firms.(Law overview)
May 4, 2009... The Legislature's plan to shore up the insolvent Indiana Unemployment Insurance Trust Fund places the bulk of the financial burden on already ailing businesses with the least ability to pay. That's the assessment of the Indiana Chamber of...

Founder fights to be heard: ex-CEO Kissinger feels 'frozen out' by new management at struggling Bioanalytical Systems.(Bioanalytical Systems Inc.)(Company overview)
May 4, 2009... It took Pete and Candace Kissinger 33 years to build West Lafayette-based Bioanalytical Systems Inc. into one of the largest contract research firms in Indiana's life science sector. It took just a year and a half for them to turn against...

Ritter's buyer retools chain: turnaround plan goes beyond frozen treats.(Ritter's Frozen Custard)
May 4, 2009... This St. Patrick's Day, TruFoods LLC executive Gary Occhiogrosso got an object lesson in why his company's acquisition of Ritter's Frozen Custard either could be a great opportunity or a royal pain--or both. He visited the chain's...

IBJ nabs prestigious business-journalism award.(Indianapolis Business Journal)(Brief article)
May 4, 2009... IBJ received a national first-place prize for general excellence at the Society of American Business Editors and Writers annual conference on April 27 in Denver. The newspaper won in the weekly publication category, which includes regional...

Allison invests in British engineering firm: Torotrak's gearless transmission will diversify markets.(General Motors Corp. Allison Transmission Div.)
May 4, 2009... Though plagued by debt, Allison Transmission recently plowed millions of dollars into experimental technology that could lead to new products. The company entered a $10.4 million deal in March with Torotrak plc, a British firm that's been...

Top logistics execs draw road map for industry: report due in fall will offer sweeping recommendations.
May 4, 2009... On the menu of Indiana's economic development initiatives, the logistics industry has had all the appeal of truck stop coffee. Meanwhile, the information technology and life sciences sectors--and recently clean tech--have had everyone...

Indiana lawmakers will be called into their first special session since 2002, after failing to pass a new state budget by the April 29 deadline.(ON THE RECORD)(Brief article)
May 4, 2009... Indiana lawmakers will be called into their first special session since 2002, after failing to pass a new state budget by the April 29 deadline. A two-year spending plan passed the Republican-controlled Senate on a 37-13 vote. But the...

Herff Jones Inc.(ON THE RECORD)(Brief article)
May 4, 2009... Herff Jones Inc., an Indianapolis-based company known for selling high school rings, yearbooks and other educational products, is now in the business of making championship rings for major sports teams. The company announced April 28 that it...

Lilly Endowment Inc.(ON THE RECORD)(Brief article)
May 4, 2009... Lilly Endowment Inc. will donate an additional $1.5 million to a local fund designed to address a recession-driven wave of demand for food, shelter and other basic needs, the United Way of Central Indiana announced April 29. The endowment's...

MBA programs.(ON THE RECORD)(Brief article)
May 4, 2009... Rankings of Indiana and Purdue universities' MBA programs moved only slightly from last year, according to U.S. News & World Report's annual survey of graduate programs released April 23. Indiana University's Kelley School of Business dropped...

Indianapolis Colts.(ON THE RECORD)(Brief article)
May 4, 2009... The Indianapolis Colts are staying at Rose-Hulman Institute of Technology for training camp. The team has conducted its camp at the Terre Haute school since 1999. Team president Bill Polian made the announcement April 24. The city of Anderson,...

Brightpoint Inc.(THE WEEK AHEAD)
May 4, 2009... Brightpoint Inc. will hold its annual meeting at 9 a.m. May 5 at its headquarters and will announce first-quarter earnings May 7.

Other Indiana companies announcing first-quarter earnings.(THE WEEK AHEAD)(Brief article)
May 4, 2009... Other Indiana companies announcing first-quarter earnings include Republic Airway Holdings Inc. May 5, Calumet Specialty Products Partners LP May 6 and Kite Realty Group Trust May 7.

Steak n Shake lawsuit settled by phone call between CEOs.(ON THE RECORD)
May 4, 2009... Corporate executives might want to take a cue from Steak n Shake Co. CEO Sardar Biglari, who mustered the initiative to settle a potentially costly legal dispute the old-fashioned way. Staring at a trademark-infringement lawsuit from...

System meltdown at the Statehouse: overtime requires new approach.(EDITORIAL)
May 4, 2009... Lawmakers sometimes do their best work right after an election, when they have a fresh victory in hand and can think beyond their political self-interest. Same goes for the chief executive. Gov. Mitch Daniels won big last year in what was...

[Cartoon].(EDITORIAL)(Cartoon)
May 4, 2009... TODAY'S SUDDEN STOCK RISE WAS LED BY MAKERS OF SURGICAL MASKS, FLU DRUGS, AND OTHER WORST-CASE-SCENARIO SUPPLIES [ILLUSTRATION OMITTED]

Good health is good for business.(Commentary)
May 4, 2009... In the last six months we have been concerned with falling numbers--sales, stock prices, 401(k) values--the bottom line. More recently, however, I have been concerned with rising numbers--blood pressure, cholesterol, prostate antigens--the...

Indiana wages now well below average.(EYE ON THE PIE)(Column)
May 4, 2009... Last week the U.S. Bureau of Economic Analysis released its estimates of county personal income and all the detail comprising those data. These data are important because they provide a consistent view over a long period of time. It's easy...

Read my lips: reform local government.(VIEWPOINT)(Legislation)
May 4, 2009... With the economy struggling, tax receipts falling and federal deficits soaring, there's more pressure than ever for government cost-cutting. Yet most Indiana local government-reform efforts have died an ignoble death in two consecutive...

Simon article smacked of opinion.(LETTERS)(Letter to the editor)
May 4, 2009... I was disappointed by the [April 20] "special report" criticizing the relationship between the Simon organization and the city of Indianapolis. The article belonged on the editorial page, not the front page. I wonder if your reporter is...

Anonymous reviews are a bad idea.(LETTERS)(Letter to the editor)
May 4, 2009... I appreciate that J.K. Wall took time to interview me for your [April 6] coverage of online health ratings, a topic that's surely of great interest to IBJ readers. However, your April 13 editorial clearly missed the mark by failing to draw any...

Deal-making efforts unraveled in session's last days.(STATEHOUSE DISPATCH)(Indiana. General Assembly)(Conference news)
May 4, 2009... You wouldn't have expected it going into the final week of the Indiana General Assembly, but we're headed for a special legislative session. If you tuned in on April 27, you would have believed a budget compromise had been forged. And if...

Column sullied IWC name.(LETTERS)(Letter to the editor)
May 4, 2009... It is incorrect to reference "IWC" or "Indianapolis Water Co." (as [Investing columnist Ken Scarbeck] did four times) in your [April 20] article about the bond derivatives fiasco. Indianapolis Water Co. was liquidated April 30, 2002, when its...

Finger-pointing won't solve CIB mess.(LETTERS)(Letter to the editor)
May 4, 2009... I am disappointed the current CIB funding issues are not being addressed with the same bipartisan efforts of the late '70s. That was a special time, when civic, political and professional leaders, regardless of their affiliations, worked...

Last call for National Wine & Spirits?(LETTERS)(Letter to the editor)
May 4, 2009... Southern Wine and Spirits has applied for a license to do business in Indiana and it has been stated in the [Feb. 16] IBJ that Southern will stimulate competition. Southern does not enter a new market to stimulate competition. Their strategy is...

Feds fuel diesel program.(ENVIRONMENT)(American Recovery and Reinvestment Act )(Brief article)
May 4, 2009... Among the billions and billions of dollars the federal government is showering on states through the American Recovery and Reinvestment Act is about $2 million Indiana plans to bestow in the form of grants to make diesel engines less-polluting...

Indiana's college savings plan ranked among nation's best.(GOVERNMENT)(Brief article)
May 4, 2009... Chicago-based investment research firm Morningstar Inc. has named Indiana's CollegeChoice 529 Direct Savings Plan one of the nation's five best. [ILLUSTRATION OMITTED] State Treasurer Richard Mourdock, chairman of the Indiana Education...

Pharma sets sail to China.(HEALTH CARE)(Brief article)
May 4, 2009... Drug companies--including Indianapolis-based Eli Lilly and Co.--are looking to ramp up sales internationally as the U.S. market contracts for the first time in 50 years. Sales of pharmaceuticals will fall 1 percent to 2 percent in the...

Panther Racing sues Pathway Productions.(MEDIA & MARKETING)(Brief article)
May 4, 2009... Indy Racing League team Panther Racing has filed a lawsuit against locally based video and Web production company Pathway Productions, which is now owned by Mays Chemical Co. President William Mays. The lawsuit seeks $1.58 million. ...

Startup applies Netflix model to clothing for children.(RETAIL)(Wow Clothing Club )(Brief article)
May 4, 2009... A Brownsburg entrepreneur has launched a company based on the premise that parents will pay a monthly subscription fee to ensure their baby girls are always decked out in the hippest threads. The Wow Clothing Club is offering the temporary...

IRL could have large audience in China.(ON THE BEAT)(Indy Racing League)(Brief article)
May 4, 2009... The Indy Racing League is taking a serious look at holding a race in China as early as 2011. Series officials said there are several good reasons why the league may want to head to the nation of 1.33 billion people. [ILLUSTRATION OMITTED]...

Jennifer L. Moore has joined Katz Sapper & Miller LLP.(ACCOUNTING)
May 4, 2009... Jennifer L. Moore has joined Katz Sapper & Miller LLP as director of marketing. [ILLUSTRATION OMITTED]

Steve Abernathy has joined Midwest Mole as vice president.(CONSTRUCTION)
May 4, 2009... Steve Abernathy has joined Midwest Mole as vice president of operations.

Jim Stapp has joined Shook Construction.(CONSTRUCTION)
May 4, 2009... Jim Stapp has joined Shook Construction as a project manager. [ILLUSTRATION OMITTED]

Indiana University School of Medicine.(EDUCATION)
May 4, 2009... Dr. David S. Wilkes has been named executive associate dean of research affairs at the Indiana University School of Medicine.

Butler University.(EDUCATION)
May 4, 2009... Laura Behling has been named associate provost for faculty affairs and interdisciplinary programs at Butler University. [ILLUSTRATION OMITTED]

Indianapolis Public Transportation Corp. (IndyGo).(GOVERNMENT)
May 4, 2009... Samantha Cross has been named director of business development of the Indianapolis Public Transportation Corp. (IndyGo).

Dr. Vincent Parziale has joined Southside Community Physicians.(HEALTH CARE)
May 4, 2009... Dr. Vincent Parziale has joined Southside Community Physicians, a Community Physicians of Indiana office, as an internal medicine physician. [ILLUSTRATION OMITTED]

Managed Health Services.(HEALTH CARE)
May 4, 2009... Dr. Robert Baker has been named vice president of medical affairs at Managed Health Services.

Thomas A. Pitman has joined Barnes & Thornburg LLP.(LAW)
May 4, 2009... Thomas A. Pitman has joined Barnes & Thornburg LLP as a partner in the governmental services & finance department.

Indiana Association of Black Psychologists.(PROFESSIONAL/TRADE)(Kimberly E. Johnson, Frankie Cooper and Natalie Cumberlander have been appointed)(Brief article)
May 4, 2009... [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] [ILLUSTRATION OMITTED] The Indiana Association of Black Psychologists has named the following officers: Pamela June, treasurer; Kimberly E. Johnson, president; Frankie Cooper, vice...

American Association of Grant Professionals, Central Indiana chapter.(PROFESSIONAL/TRADE)(Amy Shankland, Judith Duncan and Cindi Zenkert-Strange have been appointed)(Brief article)
May 4, 2009... The American Association of Grant Professionals, Central Indiana chapter, has named the following officers: Amy Shankland, City of Noblesville, president; Judith Duncan, Franklin Township Education Foundation, vice president; Cindi...

Todd Eisele has joined the CityWise Real Estate team.(REAL ESTATE)
May 4, 2009... Todd Eisele has joined the CityWise Real Estate team as a residential specialist.

Chris Carriere has joined HDG Mansur.(REAL ESTATE)
May 4, 2009... Chris Carriere has joined HDG Mansur as corporate controller. [ILLUSTRATION OMITTED]

Light & Breuning Inc.(SERVICES)
May 4, 2009... Jerry Hoover has been named Michigan sales representative for Light & Breuning Inc.

Bradley Svatek has joined NuVox as a senior account executive.(TECHNOLOGY/TELECOMMUNICATIONS)
May 4, 2009... Bradley Svatek has joined NuVox as a senior account executive. Kirby Zwickel has joined as an account executive.

Perkins Logistics LLC.(TRANSPORTATION)
May 4, 2009... Gary Kelly has been named chief financial officer at Perkins Logistics LLC.

Largest Indianapolis-area motorsports companies.(FOCUS: BUSINESS OF MOTORSPORTS)(Company rankings)
May 4, 2009... Largest Indianapolis-Area Motorsports Companies (Ranked by total local FTE employees) COMPANY ADDRESS RANK PHONE/FAX/WEB SITE 1 Indianapolis Motor Speedway 4790 W. 16th St., 46222 (317)...

F1 team picks Charlotte for new headquarters: choice raises questions about Indianapolis' prestige.(FOCUS: BUSINESS OF MOTORSPORTS)
May 4, 2009... [ILLUSTRATION OMITTED] A decision by a startup Formula One team to set up shop in Charlotte, N.C., is fueling debate over whether Indianapolis still is the self-proclaimed "motorsports capital of the world." U.S. Grand Prix Engineering...

Data can be deceiving when the economy slows.(INVESTING)
May 4, 2009... I begin with a few corrections and amplification to my column two weeks ago. The April 20-26 column entitled "Complex Bond Schemes Haunt Indy, Other Cities" incorrectly stated that the Indiana Bond Bank entered into derivative contracts on...

Stocks rise due to consumer spending.(STOCKS)
May 4, 2009... Even though the economy shrank dramatically during the first quarter, consumers are showing a renewed willingness to spend money--and the stock market is responding positively. Major indexes rose more than 3 percent over the week ended April...

Build your economy by assessing community.(ECONOMIC ANALYSIS)
May 4, 2009... Hard times present a fitting opportunity for communities to engage in useful self-reflection. In this case, deep thinking on the regional economy could best be served by focusing on the fundamentals first, not the outcomes. I ask each...

The Hutson School.(NOT-FOR-PROFIT OF NOTE)
May 4, 2009... 5815 E. 38th St. Indianapolis, IN 46218 * moving, to 7245 E. 75th St. in June Phone: (317)377-0544 Fax: (317)377-0608 Web site: www.hutsonschool.org Founded: 2000 Paid employees: 18 Highest-paid staff...

The Steak n Shake Co.(PROXY CORNER)
May 4, 2009... The Steak n Shake Co., 36 S. Pennsylvania St., Suite 500, "Indianapolis, 46204 (www.steaknshake.com) owns and operates, and franchises, full-service, casual restaurants. For the quarter ended April 8, 2009, the company reported net earnings of...

Calendar.(RECORDS)(Calendar)
May 4, 2009... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. May 4, 7 a.m.: Business & Professional Exchange, North Side chapter, St. Luke's United Methodist Church, 100 W. 86th St. Contact...

Ovar'Coming Together to benefit from its fourth annual Bag Event on May 6.(FUND RAISING)
May 4, 2009... Ovar'Coming Together to benefit from its fourth annual Bag Event on May 6 at the Conrad Hotel at 11 a.m. Tickets: $125-$275. Contact 925-6643.

Masonic Learning Center to benefit from An Afternoon of Tea and Fashion on May 9.(FUND RAISING)
May 4, 2009... Masonic Learning Center to benefit from An Afternoon of Tea and Fashion on May 9 at the Scottish Rite Cathedral at 10 a.m. Tickets: $30. Contact 262-3100.

Conclusion of legislative session leaves many loose ends.(Indiana. General Assembly)(Conference news)
May 4, 2009... Many business-related measures died daring the chaotic final days of this session of the General Assembly, which wrapped up April 29. Below is a roundup of key bills. STATE BUDGET The General Assembly had one constitutionally...

Booking art on the library's pedestals.(A&E)(Column)
May 4, 2009... This week, new artwork in front of the Central Library, and a Pulitzer-winning play at IRT. Empty for more than 90 years, the pedestals in front of the Central Library now have a resident--or two, depending on how you are counting. Peter...

Swine of the times: an epidemic like no other.(SURF THIS)(Disease/Disorder overview)
May 4, 2009... As I write this, the swine flu epidemic is well on its way to being classified as a pandemic, having spread from its apparent epicenter in Mexico throughout North America, to Europe, Asia, and beyond. In fact, it was confirmed just a short time...

City built on leadership, cooperation is in danger.(SPORTS)(Column)
May 4, 2009... No matter how the Capital Improvement Board funding mess plays out, we're left with resentment coming from all directions and an unprecedented splintering of the long-standing bipartisan cooperation that helped propel our city forward. I...

Author's work may go unfinished.(EYE ON THE PIE)(financial management)(Column)
May 11, 2009... "How is your unwritten book coming along?" Myra Mariachi asks. "How do you know I have an unwritten book?" I respond. "Because you're the type of person who might write a book but not the type who is writing a book," Myra says. "A...

East-side retro diner isn't too cola for the room.(DINING)(Rock Cola 50's Cafe)(Restaurant review)
May 11, 2009... With a fading classic car painted on the side of the building, Rock Cola 50's Cafe looks a lot older than its 16 years. But that's the idea. The themed restaurant (5730 Brookville Road, 357-2233) is a throwback through and through, from...

Whole-hog health scare: a deadly double standard.(NOTIONS)(Column)
May 11, 2009... The planet is all agog over swine flu. We're not supposed to call it swine flu. We're supposed to call it H1N1. That way, the hogs and pigs won't get upset and U.S. pork sales won't decline any further. And besides, the disease isn't...

Building on a prayer: churches look for ways to pay off construction projects planned before recession took toll on collection plates.
May 25, 2009... [ILLUSTRATION OMITTED] The Greek Orthodox families of central Indiana worked for 10 years to build their new gold-domed church in Carmel, but they aren't finished sacrificing. The 500-family congregation now must pay off the $9 million...

IPL wins retiree benefit dispute: state commission says utility not on the hook for $115M; ex-workers consider appeal.(Indianapolis Power and Light)(Company overview)
May 25, 2009... Indianapolis Power & Light could have been on the hook for more than $100 million in retirement benefits, but a ruling this month by the Indiana Utility Regulatory Commission allows IPL to keep the money. IPL prevailed against a claim by...

Lauth granted reprieve: judge lets company control its properties during restructuring.
May 25, 2009... A judge has given Lauth Group Inc. a reprieve from an equity investor that is seeking to take control of most of the developer's properties. The decision this month by U.S. Bankruptcy Judge Basil H. Lorch could give Carmel-based Lauth more...

Banker's seat on board turns into bigger challenge.(BEHIND THE NEW)
May 25, 2009... [ILLUSTRATION OMITTED] Mike Alley thought he was easing back into banking when he joined the board of Evansville's Integra Bank Corp. this spring. Alley knew Integra was struggling, but by the time he attended his first board meeting,...

Conseco Inc.(ON THE RECORD)(Brief article)
May 25, 2009... A Hamilton County judge May 20 ordered the wife of a former Conseco Inc. director to pay the insurer $5 million in its ongoing quest to recover unpaid stock loans. The judgment against Margaret Massey, wife of James D. Massey, stems from a...

Chrysler.(ON THE RECORD)(fund management)(Brief article)
May 25, 2009... A bankruptcy judge May 20 denied a motion from a pair of Indiana state pension funds and a state construction fund to delay the proposed sale of most of Chrysler's assets, saying the funds' plan to challenge the legality of the sale in another...

Eli Lilly and Co.(ON THE RECORD)
May 25, 2009... Indianapolis pharmaceutical company Eli Lilly and Co. has formed a diabetes marketing and education partnership with the Minnesota-based device maker Medtronic Inc., the two companies announced May 19. Lilly and Medtronic plan to use their...

Caterpillar Inc.(ON THE RECORD)(managing working hours)(Brief article)
May 25, 2009... Nearly 1,000 Caterpillar Inc. workers in Lafayette will have their hours cut by at least hall beginning Aug. 24, the Peoria, Ill.-based company said May 15 in a notice to state officials. Caterpillar said the new work schedule at its Large...

Capital Improvement Board.(THE WEEK AHEAD)(Conference news)(Brief article)
May 25, 2009... The Indianapolis Capital Improvement Board will meet at 2 p.m. May 26. CIB was set to meet May 18 but canceled when too many board members couldn't attend.

Shoe Carnival Inc.(THE WEEK AHEAD)
May 25, 2009... Evansville-based Shoe Carnival Inc. will announce first-quarter earnings May 28.

Irwin Financial Corp.(THE WEEK AHEAD)
May 25, 2009... Irwin Financial Corp. will hold its annual meeting at 4 p.m. May 29 at the Yes Cinema & Conference Center in Columbus.

Sunny days could save delayed corn crop: farmers racing to catch up after waterlogged spring.
May 25, 2009... Jeff Gormong was still waiting on May 20 to plant the first row of corn on his 2,000-acre spread near Farmersburg. And every day he waited for his field to dry, the potential yield was falling. Heavy spring rains have delayed the planting...

Pay for diplomas is smart incentive: boosting grad rate is high priority.(EDITORIAL)
May 25, 2009... Incentives have long been used as an effective tool in business to improve employee performance. But can a concept that helps companies motivate workers also work in public education? Indiana Superintendent of Public Instruction Tony...

Journalism is the value proposition. (Commentary).
May 25, 2009... [ILLUSTRATION OMITTED] The newspaper business isn't dying; it's morphing. The days when everybody wakes up and reads the morning paper are certainly long gone, but there are still quite a few of us who enjoy doing that. And it will be...

Correction.(EDITORIAL)(Correction notice)
May 25, 2009... The Indiana Clinic is a not-for-profit joint venture of Clarian Health and the Indiana University School of Medicine. The Indiana Clinic plans to employ 1,500 physicians by 2011. A page 1 story last week misstated the employment relationship...

Financing plans can end friendships.(EYE ON THE PIE)(Column)
May 25, 2009... They went home without passing a budget. They will return. They are the members of the Indiana General Assembly, 150 citizens but just a few individuals. Adherence to party discipline is their major concern; neither good policy nor the welfare...

Anyone remember sounds of silence? (VIEWPOINT).
May 25, 2009... Recently, I found myself sitting at Gate 10 in New York's LaGuardia Airport. Allow me to set the scene" I find a seat along the windows, appreciating the natural daylight coming through and mitigating the unnatural, overhead,...

CIB drama goes from bad to worse.(LETTERS)(Letter to the editor)
May 25, 2009... I am truly disgusted after reading the latest in the perennial saga of the CIB. According to the [May 18] article, Barney Levengood, the executive director of the CIB for the past 18 years, states he hadn't realized the full extent of the...