Indianapolis Business Journal articles from November 2004

Indianapolis Business Journal archives from November 2004

Tough talks ahead for ATA: AirTran plan gives company lift going into bankruptcy, but creditors must buy in.
November 1, 2004... A deal to unload its gates at Chicago Midway Airport and two other cities for $87.5 million gives ATA Holdings Corp. a big advantage going into bankruptcy reorganization, experts say, both in negotiating better terms on its aircraft lease debt...

Ch. 11 filing boosts city bankruptcy bar: professor estimates case will generate $9 million in fees.
November 1, 2004... ATA Holdings Corp.'s decision to file its Chapter 11 bankruptcy case in its hometown will position Indianapolis attorneys to collect a large slice of the estimated $9 million in professional fees the case will generate. The estimate comes...

Lilly, Taurel search for calmer seas: keys to rebound include milking pipeline, boosting Zyprexa.(Eli Lilly and Co.)
November 1, 2004... Eli Lilly and Co. cranked open the valves to its vaunted product pipeline and churned out eight new drugs in the past 2-1/2 years. Company leaders count this pipeline as one of the keys to reversing Lilly's sales slump, and they like most...

Cicero condos planned: developer's $25m project suggests boom coming to Hamilton County burg.(Williams Realty Investments LLC)
November 1, 2004... A condominium project proposed for the shore of Morse Reservoir at Cicero may be the vanguard of a boom for the northern Hamilton County town. Indianapolis-based developer Williams Realty Investments LLC is proposing four condo buildings...

IRL ratings continuing their skid: big cities targeted by series also had weak viewership.(Indy Racing League)
November 1, 2004... Despite a fortified effort to bolster television ratings this season, the Indy Racing League for the third straight year saw a decline in the numbers tracked by New York-based Nielsen Media Research. Ratings for the 10 IRL races on ABC in...

New details surface in SEC's Dick suit.(Behind The News)(Securities and Exchange Commission)
November 1, 2004... Recently filed court papers in the U.S. Securities and Exchange Commission's fraud lawsuit against former Conseco Inc. Chief Financial Officer Rollin Dick suggest the trial will provide an abundance of drama. Appearing on the list of 17...

States start asking questions about Anthem-WellPoint: regulators want info about any changes to merger.(information)
November 1, 2004... Questions raised by some state insurance regulators may help derail the proposed Anthem-WellPoint merger, according to an article published late last month by the Los Angeles Times. Not so, say industry analysts and representatives of both...

Bathroom ad strategy flush with opportunity: firm takes flat screens where they've never been before.(AllOver Media)
November 1, 2004... It seems everything these days is going digital, so why not bathroom advertising? Charlie Latterell, one of four owners of a new local operation, said it's already working in other markets, and he's betting it will be successful locally as...

Stirring the pot in Haughville: west-side neighborhood draws City Market entrepreneurs to redeveloped corner.(Westside Community Development Corp.)
November 1, 2004... When Judge Smith stands at the corner of Michigan Street and Belmont Avenue in Haughville, he likes what he sees: a new library branch, the downtown skyline and a sweet deal on a newly renovated building for his barbecue business. Smith...

UPS sends executives on diversity sabbaticals: Indianapolis manager says working with less fortunate will help her relate better to employees.(United Parcel Service of America Inc.)
November 1, 2004... Ginger Golobish had some idea what she was getting into as she climbed the corporate ladder at UPS--long days, countless meetings and mounting responsibilities aren't unheard of for a division manager. But the heroin addicts and homeless...

Somerset buys back assets from First Indiana: increased regulations made it difficult for bank, accounting firm to coexist.
November 1, 2004... Twenty-one partners of Somerset Financial Services LLC have bought the assets of the accounting firm from parent First Indiana Corp. and renamed it Somerset CPAs PC. First Indiana received $11.4 million from the transaction that closed...

ATA's founder should keep role: Mikelsons has been vital to airline.(Editorial)
November 1, 2004... It's been more than a year since ATA Holdings Corp. began warning investors it would need to seek bankruptcy protection if it couldn't negotiate significant concessions from bondholders, aircraft lessors and employees. Those negotiations...

Clay development running amok?(Commentary)
November 1, 2004... Growth in Hamilton County's Clay Township isn't out of control--yet. Fast-growing communities need to make sure they have adequate infrastructure in place to accommodate their growth. When they don't, the results can be disastrous at most,...

Correction.(Correction Notice)
November 1, 2004... The name of the McOuat Building at 14 E. Washington St. was misspelled in a story last week. The Beckmann Theatre has received a $25,000 grant from the Eli Lilly and Company Foundation to renovate a future home. The amount of the grant was...

Remember constitutional issues on ballot.(Eye On The Pie)
November 1, 2004... Three important amendments to the Indiana Constitution are on the Nov. 2 ballot. They are not getting the attention they deserve. You don't hear the candidates discussing these questions. Question 1 would permit the General Assembly to...

Parenting an organization through change.(Viewpoint)
November 1, 2004... Leading an organization through change is like parenting: astonishing, vexing and eminently worthwhile. Raising children is more personal, of course. Flesh and blood, they carry our genes and predilections. Foibles that are charming in a...

Indiana needs to nurture companies.(Letters)(Letter to the Editor)
November 1, 2004... I applaud [Morton Marcus] for writing the [Oct. 25] article on the "private sector." I was in banking [in Richmond] and also served as the president of the Richmond Area Chamber of Commerce. We were very active in economic development,...

New state program will help uninsured.(Letters)(Letter to the Editor)
November 1, 2004... I was pleased to see IBJ's story on Anthem's participation with the state of Maine's Dirigo Health Plan (Anthem partners with Maine on new health care plan, Oct. 18). The Dirigo Health Plan is indeed an exciting initiative that many in the...

Let's trade welfare for wage subsidies.(Letters)(Letter to the Editor)
November 1, 2004... For anyone who has paid attention, job loss has become the central issue of the gubernatorial campaign, with implications reaching far beyond the election. Some observers have cast Indiana's historic dependence on key industries like...

We can't afford risks of secondhand smoke.(Letters)(Letter to the Editor)
November 1, 2004... Over the next several months, all our communities will begin to debate the public health hazards of tobacco. We will hear smokers argue for freedom of choice, while the public health community will focus on secondhand smoke and its effect on...

Life sciences facility is a real attraction.(Letters)(Letter to the Editor)
November 1, 2004... With central Indiana's increasing focus on life sciences, we hear about scientific advances almost daily, and that news emanates from all manner of sources--from universities, commercial laboratories, startup businesses or individual innovators...

IUPUI is making degrees accessible.(Letters)(Letter to the Editor)
November 1, 2004... The changing enrollment patterns of Indiana's public colleges and universities have attracted a lot of attention recently. Clearly this interest is tied to a growing sense of the importance of colleges to the state's future. At IUPUI, we...

Ground-breaking at MSA site imminent.(On The Beat)(Market Square Arena)(Brief Article)
November 1, 2004... Bulldozers may start to rumble as soon as the middle of the month on the site of the former Market Square Arena, where developers plan a 29-story condominium tower. Final details are being worked out with the project's lenders, said Mike...

Leaders change at law firm.(Law)(Toby McClamroch takes over at Bingham McHale LLP)(Brief Article)
November 1, 2004... Hans Steck, the longtime managing partner of Bingham McHale LLP, has relinquished leadership of the law firm to Toby McClamroch. Steck started at the former Bingham Summers Welsh & Spilman as a law clerk in 1975 and was hired full time the...

Dessert maker expanding.(Manufacturing)(Brief Article)
November 1, 2004... Atkins Elegant Desserts is planning a $4.72 million expansion of its Noblesville corporate headquarters and manufacturing plant that will more than double the size of its existing facility by the summer of 2005. Construction of the...

Council names new president.(Minority Business)(Brief Article)
November 1, 2004... The Indiana Regional Minority Supplier Development Council has hired Reggie Henderson to succeed Donald Jones as its president. Henderson, 39, comes from the Indiana Chamber of Commerce, where he served the past three years as director of...

Judge sets Nov. 16 hearing to discuss Conner Prairie trust.(Philanthropy)(Brief Article)
November 1, 2004... Earlham College will have another day in court. Hamilton Superior Judge William J. Hughes scheduled a half-day hearing for Nov. 16 for Round Two in the ongoing legal battle over the public charitable trust at the core of Conner Prairie living...

Humane Society of Indianapolis kicked off its 100th anniversary celebration Oct. 25.(Philanthropy)(Brief Article)
November 1, 2004... Humane Society of Indianapolis kicked off its 100th anniversary celebration Oct. 25, announcing plans for 15 months of activities leaders hope will create connections in the community. It's a major milestone for an organization that has...

Residential agencies pop up all around downtown.(Real Estate)(Brief Article)
November 1, 2004... Lafayette-based Coldwell Banker Shook is settling into a downtown office at 421 Massachusetts Ave., joining a growing number of downtown real estate brokerages. "The market is booming. This is the place to be," said Office Manager Lisa...

Indianapolis-based Mann Properties is preparing to break ground on a 48,000-square-foot expansion of a medium-distribution center in Uptown Village.(Real Estate)(Brief Article)
November 1, 2004... Indianapolis-based Mann Properties is preparing to break ground on a 48,000-square-foot expansion of a medium-distribution center in Uptown Village, at the southwest corner of 96th Street and Interstate 69 on the northeast side. Fort...

Harold's Steer-in closing.(Retail)(Brief Article)
November 1, 2004... East-side dining institution Harold's Steer-in restaurant was to shut its doors at 3 p.m. Oct. 31 after 40 years in business. Staff at the restaurant is hopeful someone will buy the eatery and reopen it, said Manager Linda Parrilla, who...

NFL delay might keep Colts here.(Sports)(National Football League)(Brief Article)
November 1, 2004... National Football League officials might postpone by one year putting a team in the Los Angeles market because of delays in negotiations with representatives of the four prospective stadiums. This development, league sources said, gives...

Healthx makes high-tech list.(Technology)(Brief Article)
November 1, 2004... Locally based online health benefits manager Healthx ranked 47th on Deloitte & Touche LLP's 2004 "Deloitte Technology Fast 500." Healthx was the only Indiana-based company to make the list, which ranked the fastest-growing North American...

Katz Sapper & Miller.(Accounting)(Brief Article)
November 1, 2004... Katz Sapper & Miller has added the following: * Julie Lange, administrative assistant, Human Resources and Marketing Departments; * Amber Rowe, staff accountant, and * Kyle Matthews, senior accountant, Audit and Assurance Services Group.

MillerWhite.(Advertising/Marketing/Public Relations)(Brief Article)
November 1, 2004... * Chris Jefferson has joined MillerWhite as director of Business Development.

Bodkin Associates Inc.(Advertising/Marketing/Public Relations)(Brief Article)
November 1, 2004... Erika Warren has joined Bodkin Associates Inc. as a public relations account coordinator.

Bonar Group.(Architecture/Engineering/Design)(Brief Article)
November 1, 2004... * Shane Burkhardt has joined Bonar Group, Indianapolis office, as planning manager.

LaSalle Bank.(Banking)(Brief Article)
November 1, 2004... LaSalle Bank has promoted the following: * Mark H. Veach, senior vice president; * Eric J. Harvey, assistant vice president; * Mitchell L. Walters, assistant vice president; and * Kathryn R. Kruger, commercial banking officer.

Stock Yards Bank.(Banking)(Brief Article)
November 1, 2004... Jeane Kehl has joined Stock Yards Bank, Indianapolis office, as vice president, Private Banking Group.

American Heart Association.(Civic/Not-For-Profits)(Brief Article)
November 1, 2004... The American Heart Association has named the following officers: Ruth Rench, Genentech, president; * Mike Paton, Barnes and Thornburg, chairman; Mary Norine Walsh, The Care Group LLC and IU School of Medicine, vice president; * Mike McCrory,...

Damar Services.(Civic/Not-For-Profits)(Brief Article)
November 1, 2004... * Michael Craciunoiu has joined Damar Services as development manager, and * Wendy Hunsucker has joined as director of outpatient clinical services.

CICOA Aging & In-Home Solutions.(Civic/Not-For-Profits)(Brief Article)
November 1, 2004... John Commorato, CMC Media Group, has been elected to the foundation board of trustees of CICOA Aging & In-Home Solutions.

KSM Capital Advisors.(Finance)(Brief Article)
November 1, 2004... * Gail Boelke has joined KSM Capital Advisors.

FORUM Credit Union.(Finance)(Brief Article)
November 1, 2004... FORUM Credit Union has promoted the following: * Brian Crum, vice president, Retail Delivery; * Chris Johnson, vice president, Business Services; * Doug Sharkey, vice president, Lending; and * Cam Minges, chief operating officer, FORUM...

Indiana Members Credit Union.(Finance)(Brief Article)
November 1, 2004... Indiana Members Credit Union has promoted the following: * Lela Springfield, manager, VA Branch; and * Brenda Jones, manager, Government Center Branch.

Indiana Financial Partners LLC.(Finance)(Brief Article)
November 1, 2004... Sam Green has joined Indiana Financial Partners LLC as a financial services representative.

Planned Parenthood of Indiana.(Health Care)(Brief Article)
November 1, 2004... * John Guggenheim has been named vice president of administration at Planned Parenthood of Indiana.

Indiana Hospital & Health Association.(Health Care)(Brief Article)
November 1, 2004... The Indiana Hospital & Health Association has named the following officers: Vincent Caponi, St. Vincent Health, chairman-elect; David R. Doerr, Union Hospital Inc., Terre Haute, secretary-treasurer; and Robert C. Keen, Hancock Memorial...

Indiana University School of Medicine, Department of Orthopedic Surgery and Clarian Total Joint Institute.(Health Care)(Brief Article)
November 1, 2004... * Gregory J. Gilot, MD, and * J. Andrew Parr, MD, have joined the Indiana University School of Medicine, Department of Orthopedic Surgery and Clarian Total Joint Institute as assistant professors of Orthopedic Surgery.

Katz & Korin PC.(Law)(Brief Article)
November 1, 2004... * Michael D. Head has joined Katz & Korin PC as an associate.

Bose McKinney & Evans LLP.(Law)(Brief Article)
November 1, 2004... * J. Taggart "Tag" Birge has been named a partner at Bose McKinney & Evans LLP.

Tabbert Hahn Earnest & Weddle LLP.(Law)(Brief Article)
November 1, 2004... * David J. Duncan has joined Tabbert Hahn Earnest & Weddle LLP.

Feiwell & Hannoy PC.(Law)(Brief Article)
November 1, 2004... Stephanie Reinhart has joined Feiwell & Hannoy PC as an associate.

Klipsch Audio Technologies.(Manufacturing)(Brief Article)
November 1, 2004... Andre LaRouche has joined Klipsch Audio Technologies as an acoustic design engineer. Mark Blanchard has joined as a senior acoustic design engineer.

Indiana State Bar Association.(Professional/Trade)(Brief Article)
November 1, 2004... The Indiana State Bar Association has named the following: Marisol Sanchez, counsel to the president; James W. Riley Jr., president-elect; and Jan M. Carroll, secretary. Stacy L. Kelley has joined the Board of Governors.

Board of Law Examiners.(Professional/Trade)(Brief Article)
November 1, 2004... Gilbert King Jr. has been named to the Board of Law Examiners.

Indiana Credit Union League.(Professional/Trade)(Brief Article)
November 1, 2004... The Indiana Credit Union League has named the following officers: * Angela Dufour, Central FCU, chairwoman; * Jenny Budreau, FORUM CU, Fishers, vice chairwoman; Jeanette Moeller, Teachers CU, South Bend, secretary; and Sandy Heller, Northern...

Re/Max Ability Plus.(Real Estate)(Brief Article)
November 1, 2004... * John Hamm has joined Re/Max Ability Plus, Carmel, as a sales associate.

Premier Properties Inc.(Real Estate)(Brief Article)
November 1, 2004... * David Zoba has been named president and chief operating officer of Premier Properties Inc.

Re/Max Preferred.(Real Estate)(Brief Article)
November 1, 2004... * Jim Wright has joined Re/Max Preferred as a sales associate.

Equicor Cos.(Real Estate)(Brief Article)
November 1, 2004... Elizabeth "Liz" Naue has joined Equicor Cos. as property manager.

Lauth Property Group.(Real Estate)(Brief Article)
November 1, 2004... Lauth Property Group has added the following: * Brock Cusano, project coordinator, Construction; and * Richard "Dick" Klesc, superintendent, Construction.

Mike Watkins Real Estate Group.(Real Estate)(Brief Article)
November 1, 2004... * Mindy Ooley has joined Mike Watkins Real Estate Group, Greenwood, as an administrative assistant.

Duke Long Agency Commercial Real Estate.(Real Estate)(Brief Article)
November 1, 2004... Eryn P. Massey has joined Duke Long Agency Commercial Real Estate as a salesperson.

Columbia Club.(Services)(Brief Article)
November 1, 2004... Amy McCarley has been named membership director at the Columbia Club.

First Line Technology Inc.(Technology/Telecommunications)(Brief Article)
November 1, 2004... Robert J. Murphy, Murphy CPA Group, Fishers, has been named to the board of First Line Technology Inc.

Tony George sits on industry panel.(People)(Brief Article)
November 1, 2004... Tony George, president and CEO of the Indianapolis Motor Speedway and Indy Racing League, will be one of five motorsports leaders on a business panel during the Society of Automotive Engineers motorsports engineering conference Nov. 30 in...

Government debts pile up: city, state still recovering from recession, but credit ratings remain strong.(Banking & Finance)
November 1, 2004... Indiana's debt burden inspires a half-full/half-empty glass analysis. From the optimist's perspective, both local and state government are in fine shape. The majority of obligations is secured by a steady source of funds. Credit rating...

CPA firms rebound from '02: economic recovery, divestitures spur industry.(Banking & Finance)(Certified public accountants)
November 1, 2004... Revenue growth among the nation's 100 largest accounting firms is on the rise again following a downturn in 2002, according to industry newsletter Public Accounting Report. The near double-digit growth rate of 9.5 percent for 2003 is a...

Biz bank prepares to open: new competitor plans mid-November launch.(Banking & Finance)
November 1, 2004... After more than a year of planning, Indiana Business Bank is prepared to open its doors to small-business clients by mid-month. Bank President and CEO James S. Young said the finishing touches are being put on the bank's space at 250 E....

Banks involved in debate on corporate life insurance: BOLI draws criticism, but experts still recommend it.(Banking & Finance)(Bank-Owned Life Insurance)
November 1, 2004... Local attorney David Williams Russell often recommends to his business clients that they purchase key-man insurance to protect their interests in the event a partner should die. But the controversial coverage, often used by corporations and...

Raises in federal interest rate predicted by analysts: some expect bumps in November and December.(Banking & Finance)
November 1, 2004... The Federal Reserve will surprise investors by raising its interest-rate target for overnight loans between banks in December, economists at Goldman, Sachs & Co. and JPMorgan Chase & Co. said. An interest-rate increase at the Fed's Nov. 10...

Patriot Act's impact on bank industry negligible so far: determining cost of compliance, inconvenience difficult, financial institutions say.(Banking & Finance)
November 1, 2004... The events of 9/11 made lawmakers and security experts in many professions sit up and take notice. After all, who would've thought terrorists would circumvent so many safeguards already in place to wreak such havoc? The banking...

USI captures CPA competition.(Banking & Finance)(Indiana University-Purdue University Indianapolis)(University of Southern Indiana)(Certified Public Accounts)(Brief Article)
November 1, 2004... The University of Southern Indiana in Evansville is the new champion of the Indiana CPA Society's fifth-annual Case Study Competition. For the event, student teams assume the role of executive partner of a fictitious accounting firm and...

Hedge funds increasing in popularity: wealthy investors use them as safer alternative despite often-modest returns.(Banking & Finance)(Barron)(Brief Article)
November 1, 2004... Wealthy investors are increasingly turning to hedge funds as a safe investment alternative even though the returns may be modest, according to investment advice and news publication Barron's. The wealthiest investors, those with at least...

Union Federal forms new unit.(Banking & Finance)(Brief Article)
November 1, 2004... Union Federal Bank of Indianapolis has established a new construction and commercial real estate banking unit and has appointed Michael E. Lewis to senior vice president and manager of the area. The unit combines the bank's existing...

Largest Indianapolis-area accounting firms.(Banking & Finance)(Illustration)
November 1, 2004... Largest Indianapolis-Area Accounting Firms (Ranked by number of local FTE certified public accountants) RANK FIRM 2003 ADDRESS rank TELEPHONE / FAX / WEB SITE 1 Ernst & Young LLP 1 111 Monument Circle, Suite...

Blunders with rollovers can be extremely costly.(Voices From The Industry)
November 1, 2004... Where rollovers are concerned, mistakes happen. Like when you want to transfer a retirement distribution directly to an individual retirement account--but the plan administrator sends the cheek to you, rather than to the IRA custodian, and...

Divided SEC votes to subject hedge funds to oversight: new rule requires funds to register with agency.(Banking & Finance)(United States. Securities and Exchange Commission)
November 1, 2004... U.S. Securities and Exchange Commission Chairman William Donaldson won his fight to extend SEC oversight to hedge funds, passing regulations opposed by the $866 billion industry and his two fellow Republican commissioners. The rule,...

Reevaluating your portfolio can boost your nest egg.(Voices From The Industry)
November 1, 2004... Periodically, you should thoroughly review your portfolio to ensure it is still helping you work toward your investment goals. Follow these steps during that review: Review your current portfolio mix. List the current value of all your...

Online bill pay is a growing trend for banks, consumers.(Voices From The Industry)
November 1, 2004... National banking trends show progressive financial institutions inviting customers back into their lobbies and delivering a personal touch with their services. This comes after many years of pushing customers into teller lines or outside to ATM...

Search for next big thing will lead to disappointment.(Bulls & Bears)
November 1, 2004... If you were an investor in the 1980s, do you remember where the smart investment types told you to invest? Advisers didn't point to stocks because they hadn't returned anything for more than a decade. Nor, they said, should you buy bonds...

Markets' election wariness evident in unsettled returns.(Investing)(Column)
November 1, 2004... Looking at the investable asset-class offerings, it is amazing how many aspects of the economy are priced about where they were at the beginning of the year. For everything except oil, it seems, the last 10 months have been a non-event. ...

Indiana's low-cost status isn't as attractive as before.(Economic Analysis)
November 1, 2004... An economist is someone who looks at something that works in practice and wonders if it will work in theory. At least that is what former President Ronald Reagan is reputed to have said once, no doubt to the amusement of his audience. ...