Indianapolis Business Journal articles from November 2003

Indianapolis Business Journal archives from November 2003

Savings at core of merger: Anthem-WellPoint union would create cost-cutting advantages, observers say.
November 3, 2003... Look no further than the average desktop for a good example of how the mammoth Anthem-WellPoint merger announced last week is expected to save money. Computers drive the insurance business and both companies spend a lot of money every few...

The chopper look: custom-built motorcycles designed to turn heads.
November 3, 2003... Louis Kokotkiewicz knows exactly what he wants in a chopper motorcycle, and he doesn't trust some Harley Davidson engineer in Milwaukee to guess right. The Community Hospital North registered nurse stands 6 feet 4 inches, so he needs the...

Cummins planning downtown outpost: office will be used as recruitment, retention tool.
November 3, 2003... Diesel-engine maker Cummins Inc. is scoping out Class A space in downtown Indianapolis for an office to accommodate about two dozen corporate workers who currently commute to the Columbus, Ind., headquarters. The transfers would include...

Estate tax debate rages on: local financial experts wrestle with implications, challenges of fluctuating inheritance law.
November 3, 2003... Back in Benjamin Franklin's day, nothing was certain but death and taxes. You can still count on both, but not necessarily as a pair anymore. The federal estate tax, a levy you likely abhor or defend based on your family's net worth,...

Champion of Mexico: consul general provides voice for Hispanic community.
November 3, 2003... Like many newcomers to Indiana, Sergio Aguilera's knowledge of the Hoosier State extended no further than auto racing or basketball. "I knew there was a famous car race... and that there was a 'Hoosiers' film," said Aguilera, 61, the...

The beat picks up at Conseco Fieldhouse: record number of events rolling into downtown venue.(Pacer Sports & Entertainment facility)
November 3, 2003... After a two-year slump, a growing number of events coming into Conseco Fieldhouse bolstered the bottom line in 2003 for Pacers Sports & Entertainment, which operates the facility. Early bookings indicate the coming year could be even...

Once-sleepy Anthem now perched atop industry.(Behind The News)
November 3, 2003... In the 1980s, anyone suggesting Anthem Inc. would one day become the nation's biggest health insurer would have been laughed out of the room. The company, then known as The Associated Group, was the Blue Cross Blue Shield licensee for just...

Advanced avionics system set to push sale of planes: local dealer already taking deposits for 2004 model.
November 3, 2003... To get the latest high-tech avionics from Cessna, a buyer used to have to pony up $2.3 million for a corporate jet. Now, a mere $300,000 plunked down on IndyAero's counter at Mount Comfort Airport gets the "glass cockpit" outfit in all but...

Pockets of urban Indy ripe for retail, study says: areas west, northwest, southeast of downtown 'very promising'; locals are developing specific targets.
November 3, 2003... In many of the neighborhoods that ring downtown, residents must drive several miles to the suburbs to dine out or to buy groceries, clothes and the like. But does that mean those urban neighborhoods could support a grocery store or a discount...

New program aims to ensure care for uninsured: the Project Health network will debut early next year.
November 3, 2003... Doctors in Wichita, Kan., watched unreimbursed emergency room visits plummet 47 percent the first year they ran a project designed to coordinate free care for the uninsured. That was 1999. Now, that city's emergency rooms write off only 8...

Welcome news on merger front: these acquisitions pass the test.(Editorial)(Editorial)
November 3, 2003... The last few decades haven't been kind to the city's corporate landscape. Merger after merger left Indianapolis with a more barren business environment. Big companies--some smaller than our home-grown firms--struck deals that leveled corporate...

Anthem tackles biggest challenge.(Commentary)
November 3, 2003... The Anthem saga continues. IBJ has chronicled the meteoric growth and financial success of the local health insurance company since 1993, when it began an acquisition spree that has resulted in a public company that today surpasses Eli...

Correction.
November 3, 2003... A column of percentages indicating the average change in sale prices of existing homes was incorrect in the HomeStats section of the Oct. 27 At Home Quarterly.

It's time to resolve asbestos questions.(Eye On The Pie)
November 3, 2003... The use of asbestos has resulted in "the worst occupational health disaster in U.S. history," according to a report by Rand Corp., a California-based research firm. It has generated the longest-lasting tort litigation our country has known. It...

Don't let election go to your head.(Commentary)
November 3, 2003... Election 2003: It might look as if there is nothing of interest happening in Marion County on Nov. 4 because the Bart Peterson lead in the mayor's race is clearly insurmountable. But don't stay home on Election Day. Because of retirements,...

Let's make Indiana a distribution hub.(Letters)
November 3, 2003... I read with great interest [Morton Marcus' Oct. 13 column] concerning trucking. As the owner of a small Indiana "long-haul" carrier, I agree with your estimate of efficiency. We, however, have several hurdles to overcome, not least of which are...

Water contract at center of Lawrence mayoral race: democrat challenger contends deal violates state law.( Lawrence Water Co. )
November 3, 2003... A dispute over the legality of a contract awarded two years ago for management of the city of Lawrence's water operations has muddied the typically calm suburban mayoral race. Democratic challenger Deborah Cantwell, a 39-year-old former...

Wishard waits for Congress' vote.(On The Beat)(Brief Article)
November 3, 2003... Wishard Memorial Hospital may find out this week whether it will receive federal government help with paring down a deficit that could climb as high as $46 million. A committee made of members from both houses of Congress faces a Nov. 3...

Art fair in search of sun.(Arts)(Broad Ripple Art Fair)(Brief Article)
November 3, 2003... After two years of rain and storms, the Broad Ripple Art Fair is moving from Mother's Day weekend. The two-day festival will be held May 22-23 next year in an effort to escape the bad weather that translated into a $90,000 loss in 2002 and...

One-stop insurance shopping.(Insurance)(Brief Article)
November 3, 2003... Progressive Insurance will open on Nov. 3 a full-service claims center that will allow drivers to drop off their car and pick up a rented vehicle at the same location after reporting a claim, according to the insurance company. After that, a...

Bloomington mayor affiliates with Krieg DeVault.(Law)(Brief Article)
November 3, 2003... Bloomington Mayor John Fernandez will join the Krieg DeVault LLP law firm in an of-counsel role after he completes his term in January. Fernandez was elected mayor in 1995 and re-elected in 1999. He operated a private law practice before...

East-side printer expands.(Manufacturing)(Print Communications)(Brief Article)
November 3, 2003... Despite numerous negative financial reports in the printing industry over the past two years, Print Communications Inc. continues to expand. The locally based company recently announced a $2 million investment in equipment and other...

Big October for WIBC.(Media & Marketing)(WIBC-AM 1070)(Brief Article)
November 3, 2003... WIBC-AM 1070 scored big last month at the National Association of Broadcasters' prestigious Marconi Radio Awards. The awards recognize outstanding personalities and stations in 19 categories. WIBC brought home two Marconis: mid-morning...

Promotus Advertising.(Media & Marketing)(wins contract from Filter Specialists)(Brief Article)
November 3, 2003... Filter Specialists Inc. has hired Indianapolis-based Promotus Advertising to help with creative strategy, media placement and promotions. Headquartered in Michigan City, the filtration product manufacturer has facilities in the United States,...

Huntington-based Shuttleworth Inc. has named Lodge Design its agency of record.(Media & Marketing)(Brief Article)
November 3, 2003... Huntington-based Shuttleworth Inc. has named Lodge Design its agency of record. The Indianapolis advertising agency will develop a marketing strategy and national advertising campaign for the conveyor manufacturer, which also has offices in...

Economic outlook for NFPs.(Philanthropy, not-for-profit leaders)(Brief Article)
November 3, 2003... Executive Service Corps of Indiana is hosting an economic summit for area not-for-profit leaders this week featuring noted economist Diane Swonk. Chief economist and senior vice president at Bank One in Chicago, Swonk sits on several...

Industrial vacancy falls again.(Real Estate)(Colliers Turley Martin Tucker report)(Brief Article)
November 3, 2003... More than 640,000 square feet of industrial space was absorbed in the market in the third quarter, reducing the vacancy rate from 9.8 percent in the second quarter to 9.5 percent, according to statistics from Indianapolis-based Colliers Turley...

Fish Market coming to Carmel.(Retail)(Mitchell's Fish Market to open at Clay Terrace)(Brief Article)
November 3, 2003... Cameron Mitchell Restaurants, a Columbus, Ohio-based owner of several chains, has signed a lease to open a Mitchell's Fish Market at Clay Terrace "lifestyle center" now under construction near U.S. 31 and 146th Street, a company spokeswoman...

Rule targets contract bundling.(Small Business)(Brief Article)
November 3, 2003... The U.S. Small Business Administration has published a final rule on contract unbundling, which the SBA said will allow smaller companies to better complete for federal contracts. Contract bundling is the practice of combining several...

Pennzoil buys Team Menard.(Sports)(Pennzoll Panther Racing )(Brief Article)
November 3, 2003... Indianapolis-based Pennzoil Panther Racing has acquired the assets of Indy Racing League pillar Team Menard. Former Team Menard owner John Menard will become a partner at Panther Racing but, sources said, will be given a secondary role to...

State designates tech parks.(Technology)(Brief Article)
November 3, 2003... Indiana Department of Commerce Director Tim Monger announced Oct. 28 that Hammond will be home to the state's newest certified technology park. Certified technology parks, established by the General Assembly's 2002 tax restructuring, allow...

Alerding & Co. LLC.(Accounting)(Candace T. Graham)(Brief Article)
November 3, 2003... *Candace T. Graham has joined Alerding & Co. LLC as director.

Indianapolis Convention & Visitors Association.(Advertising/Marketing/ Public Relations)(Michele Coffey)(Brief Article)
November 3, 2003... Michele Coffey has been promoted to senior manager, Accounting & Telecommunications, at the Indianapolis Convention & Visitors Association.

Pearson McMahon Fletcher England.(Advertising/Marketing/ Public Relations)(Trula Womack, Lorin Schulenburg, Valerie Johnson, Kim Averitt)(Brief Article)
November 3, 2003... Pearson McMahon Fletcher England has promoted the following: *Trula Womack, media buyer; *Lorin Schulenburg, assistant media buyer; *Valerie Johnson, auditing manager; and *Kim Averitt, billing coordinator.

DLZ Indiana LLC.(Architecture/Design/ Engineering)(D. Robert Henricksen Jr.)(Brief Article)
November 3, 2003... D. Robert Henricksen Jr. has joined DLZ Indiana LLC as project manager.

Penny Mathews has joined as staff.(Architecture/Design/ Engineering)(Penny Matthews)(Brief Article)
November 3, 2003... Penny Mathews has joined as staff accountant.

SchenkelShultz Architecture.(Architecture/Design/ Engineering)(Karen Rachles)(Brief Article)
November 3, 2003... *Karen Rachles has joined SchenkelShultz Architecture as marketing and communications manager, Midwest.

National City Bank of Indiana.(Banking)(Leo G. Watson Jr.)(Brief Article)
November 3, 2003... *Leo G. "Skip" Watson Jr. has been named executive vice president at National City Bank of Indiana

Michael J. Stewart has been named executive vice president.(Banking)(Brief Article)
November 3, 2003... *Michael J. Stewart has been named executive vice president and chief credit officer.

Kimberly W. Kord has been named executive vice president.(Banking)(Kord appointment to Indiana's Investment Real Estate divsion)(Brief Article)
November 3, 2003... *Kimberly W. Kord has been named executive vice president. She is the manager of Indiana's Investment Real Estate division.

Young Audiences of Indiana.(Civic/Not-For-Profit)(JoEllen Florio Rossebo)(Brief Article)
November 3, 2003... *JoEllen Florio Rossebo has been named executive director of Young Audiences of Indiana.

Central Indiana Land Trust Inc.(Civic/Not-For-Profit)(Heather Bacher)(Brief Article)
November 3, 2003... Heather Bacher has been named executive director of Central Indiana Land Trust Inc.

Lumina Foundation for Education.(Civic/Not-For-Profit)(Holiday Hart McKiernan)(Brief Article)
November 3, 2003... *Holiday Hart McKiernan has been named vice president and general counsel of Lumina Foundation for Education.

Children's Bureau Inc.(Civic/Not-For-Profit)(Joseph Giordano, Melissa Reardon-Winget, Marta Cruz-Concepcion)(Brief Article)
November 3, 2003... Children's Bureau Inc. has named the following board members: Joseph Giordano, Merrill Lynch; Melissa Reardon-Winget, Roche Diagnostics; and Marta Cruz-Concepcion, Marion College; Mary Ann Pahud, Auxiliary to the Children's Bureau; and Margy...

500 Festival.(Civic/Not-For-Profit)(Terry Powers)(Brief Article)
November 3, 2003... *Terry Powers has joined the 500 Festival as vice president of communications.

National Coalition of 100 Black Women, Indianapolis Chapter Inc.(Civic/Not-For-Profit)(Tamara Brown, Lynette R. Daughtry, Michelle Gude-Bryant)(Brief Article)
November 3, 2003... The National Coalition of 100 Black Women, Indianapolis Chapter Inc., has named the following new members: Tamara Brown, Ames Home Loan; *Lynette R. Daughtry, Purdue University; *Michelle Gude-Bryant, Indiana State Museum & Historic Sites;...

Eden Enterprises Inc.(Construction)(Bruce Stewart, Jay Browning, Chuck Lantz)(Brief Article)
November 3, 2003... Eden Enterprises Inc. has added the following superintendents: *Bruce Stewart, Jay Browning and *Chuck Lantz.

Purdue University's Discovery Park.(Education)(Joe DeGroff )(Brief Article)
November 3, 2003... *Joe DeGroff, Ice Miller, has been named to the Advisory Council of Purdue University's Discovery Park.

Indiana University Kelley School of Business Indianapolis Alumni Club.(Education)(John Sullivan, Brent Walker, Jenny Hine, Erni Mann)(Brief Article)
November 3, 2003... The Indiana University Kelley School of Business Indianapolis Alumni Club has named the following officers: John Sullivan, McGowan Insurance Group, president: Brent Walker. RJ Pile and Co., vice president: Jenny Hine, Veros Partners, secretary:...

Oak Street Mortgage.(Finance)(Mark Hemauer)(Brief Article)
November 3, 2003... Mark Hemauer has joined Oak Street Mortgage as director, Program Management.

Rehabilitation Hospital of Indiana.(Health Care)(Robert C. Gregori)(Brief Article)
November 3, 2003... Robert C. Gregori, M.D., has been named medical director, outpatient programs, at the Rehabilitation Hospital of Indiana.

BehaviorCorp.(Health Care)(Josh Smiley, James Longstreth)(Brief Article)
November 3, 2003... BehaviorCorp has added new board members: Josh Smiley, Eli Lilly and Co.; and James Longstreth, NatCity Investments.

Northside Anesthesia Services LLC.(Health Care)(Guy Kaissar, Katherine Prillaman)(Brief Article)
November 3, 2003... Guy Kaissar, M.D., and Katherine Prillaman, M.D., have joined Northside Anesthesia Services LLC as staff anesthesiologists.

Clarian Health Partners.(Health Care)(Michael Puskarich)(Brief Article)
November 3, 2003... Michael Puskarich has joined Clarian Health Partners as manager of Consolidation, Reporting and Properly in Financial Services.

Omni Severin Hotel.(Hotel/Motel)(Mark Pongonis, Tom Sullivan)(Brief Article)
November 3, 2003... Mark Pongonis has been named director of food and beverage at Omni Severin Hotel. Tom Sullivan has been named director of rooms.

Hylant Group.(Insurance)(Sue Maki)(Brief Article)
November 3, 2003... *Sue Maki has joined Hylant Group as an account executive.

Smyth Hester & Grisham LLP, Carmel.(Law)(Chris Butz joins firm)(Brief Article)
November 3, 2003... Chris Butz has joined Smyth Hester & Grisham LLP, Carmel, as an attorney. Real Estate/Corporate Law Division.

Dann Pecar Newman & Kleiman.(Law)(Jeffrey M. Cromer, Katherine E. Taylor)(Brief Article)
November 3, 2003... *Jeffrey M. Cromer and *Katherine E. Taylor have joined Dann Pecar Newman & Kleiman as associates.

Baker & Daniels.(Law)(John Fleming, Kellye Gordon, Melissa Hinds, David Herzog)(Brief Article)
November 3, 2003... Baker & Daniels has added the following: *John Fleming, commercial financial and bankruptcy team: *Kellye Gordon, litigation team; and *Melissa Hinds, commercial, financial and bankruptcy litigation. *David Herzog has returned to the firm as a...

Bose McKinney & Evans LLP.(Law)(Peyton Berg)(Brief Article)
November 3, 2003... *Peyton Berg has joined Bose McKinney & Evans LLP as an associate in the litigation and appellate groups.

Jennifer Day has joined as an associate.(Law)(Intellectual Property Group)(Brief Article)
November 3, 2003... *Jennifer Day has joined as an associate, Intellectual Properly Group.

Bright House Networks.(Media)(Janet L. Adams and Eugenia McOmber)(Brief Article)
November 3, 2003... *Janet L. Adams has joined Bright House Networks as accounting manager for the Financial and Accounting Group. Eugenia McOmber has joined as director of Customer Operations.

American College of Employee Benefits Counsel.(Professional/Trade)(Martha Hutzelman, Ice Miller)(Brief Article)
November 3, 2003... Martha Hutzelman, Ice Miller, has been named to the American College of Employee Benefits Counsel.

Indiana Chamber of Commerce.(Professional/Trade)(Daniel B. Seitz)(Brief Article)
November 3, 2003... *Daniel B. Seitz, Bose McKinney & Evans LLP, has been named to the Indiana Chamber of Commerce board of directors.

Hamernik LLC.(Services)(Nick Rasche)(Brief Article)
November 3, 2003... *Nick Rasche has joined Hamernik LLC as an associate.

Baden Retirement Plan Services LLC.(Services)(Karyn Dzurisin, Vicki Rockhill)(Brief Article)
November 3, 2003... Baden Retirement Plan Services LLC has promoted Karyn Dzurisin and Vicki Rockhill to managers.

Williams Creek Consulting.(Services)(Terry Stewart, Jeff Moody, Nick Services)(Brief Article)
November 3, 2003... *Terry Stewart has joined Williams Creek Consulting as ecological design manager. Jeff Moody has been promoted to regulatory manager, and *Nick Services has been promoted to marketing manager.

Edwards Electrical & Mechanical.(Services)(Perry Swan, Jon Glassman, Steve DuPont)(Brief Article)
November 3, 2003... Edwards Electrical & Mechanical has named the following: Construction: Perry Swan, project manager: Electrical; Jon Glassman, project Manager, Mechanical: Steve DuPont, Operations Manager, Controls Department: John Fredrick, project Manager,...

Banks vie for slice of the real estate pie: federal debate rages over whether financial firms should be allowed to compete directly with Realtors.(Focus: banking & finance)
November 3, 2003... National banks are salivating for a piece of the lucrative real estate market. Many real estate agents fear the competition. Officials in Washington, D.C., will eventually settle the debate. Meanwhile, in Indiana, bankers and real estate...

Filings continue to flow: bankruptcies showing no sign of slowdown.(Focus: banking & finance)
November 3, 2003... Indiana courts are swamped with bankruptcy filings. And there's no end in sight. It costs just a few hundred dollars to file a bankruptcy. More and more, that fee is an attractive option to individuals and consumers awash in debt. So...

Accounting field faces latest probe: tax shelters create another battle for profession.(Focus: banking & finance)
November 3, 2003... First, it was fuzzy financial statements. Now, it's abusive tax shelters. The accounting profession is at the center of another federal probe. On the heels of the post-Era-on Sarbanes Oxley Act, which prohibits public accountants from...

Economy soars in 3rd quarter thanks to consumer spending.(Focus: banking & finance)(Brief Article)
November 3, 2003... The U.S. economy expanded at a 7.2 percent annual rate from July through September, the fastest in almost two decades, powered by surges in consumer spending and corporate equipment purchases, a government report showed. The increase in...

U.S. millionaires rise to record 3.8 million.(Focus: banking & finance)(Brief Article)
November 3, 2003... The ranks of U.S. millionaires swelled 14 percent to a record this year, driven by the stock market rally, according a study by NFO Financial Services. The number of households with at least $1 million in assets, excluding homes and...

CPA Society prize goes to Valpo U.(Focus: banking & finance)(Brief Article)
November 3, 2003... Valparaiso University won the Indiana CPA Society's fourth college Case Study Competition. The annual case study program gives Indiana college students the practical experience they might use as a public accountant in today's business...

Banker's Association joins crime-fighting network: FinCrime links banks in 10 states through Internet.(Focus: banking & finance)
November 3, 2003... The Indiana Bankers Association is turning to the Internet to fight fraud crimes committed against its member banks. For the last six weeks, the IBA has been making the Financial Crimes Network, or FinCrime, available to its membership. ...

Feds, IRS cracking down on credit counseling groups: state's oldest service undertakes name change.(Focus: banking & finance)
November 3, 2003... Confusion among consumers about credit counseling firms has prompted one of Indiana's largest to change its name. Consumer Credit Counseling Service of Central Indiana is now Momentive Consumer Credit Counseling Service, a name the...

State approves $69.4 million in credits.(Focus: banking & finance)(Brief Article)
November 3, 2003... The Indiana Housing Finance Authority late last month awarded $69.4 million in rental housing tax credits for 21 projects around the state, including eight in the Indianapolis area. The agency approved credits for four projects in Marion...

New law to ease electronic transfer of checks, cut costs.(Focus: banking & finance)
November 3, 2003... President Bush has enacted a bill making it easier for banks to save time and reduce costs by processing checks electronically. "This legislation allows financial institutions to electronically move checks from one to another," Deputy White...

New Bank One program strives to dress up employees: bank drops business casual for Lands' End apparel.(Focus: banking & finance)
November 3, 2003... As part of a plan to upgrade its branches. Bank One has done some clothes shopping for its employees. Those who work directly with customers are in the process of switching from business casual to "Bank One Career Apparel." Bank One...

Law partner chosen for finance board.(Focus: banking & finance)(Federal Housing Finance Board)(Brief Article)
November 3, 2003... The Federal Housing Finance Board has appointed Robert T. Grand, manager partner of the local office of the Barnes & Thomburg law firm, as a public interest director for the Federal Home Loan Bank of Indianapolis. Grand fills the remainder...

Largest Indianapolis-area accounting firms.(Focus: banking & finance)
November 3, 2003... Largest Indianapolis-Area Accounting Firms (Ranked by number of local FTE certified public accountants) LOCAL ...

The owner's exit strategy: prepare for tomorrow today.(Voices From The Industry)
November 3, 2003... Too often, business owners find themselves focusing exclusively on the current day. Such issues as employee relations, daily cash flow and that next big sale demand immediate attention; tomorrow gets overlooked as owners work in the business...

Don't let 'business as usual' sweep away earnings.(Voices From The Industry, bank accounts)
November 3, 2003... "If it ain't broke, don't fix it." That's the attitude many customers take toward their bank accounts--a cursory, occasional review of rates and fees, but generally sticking with the status quo. But business customers would be...

Measuring the tax impact of certain fringe benefits.(Voices From The Industry)
November 3, 2003... Employment seekers know that a job offers more than just a salary. Fringe benefits--especially tax-free ones--are an important part of any compensation package. According to the Indiana CPA Society, it's important to understand the tax...