Indianapolis Business Journal articles from October 2008

Indianapolis Business Journal archives from October 2008

Lockdown: nervous banks cut off some borrowers, tighten reins on others.
October 6, 2008... [ILLUSTRATION OMITTED] Local companies that rely on credit have seen their borrowing power shrink and in some cases disappear as a deep freeze in the nation's credit markets drives fears of a broad economic slowdown. A handful of...

Rooney's death spawns uncertainty: executive's struggling insurance company, not-for-profit left without clear-cut successors.
October 6, 2008... After the unexpected death of insurance magnate J. Patrick Rooney, two organizations he led until the day he died are scrambling to figure out who will lead them into the future. Rooney, 80, worked a full day on Friday, Sept. 12, still...

Super Bowl group taps CEO: Melangton to make move from Sports Corp.(Allison Melangton appointed by Indianapolis Super Bowl Host Committee)
October 6, 2008... The woman chosen as president and CEO of the city's Super Bowl host committee isn't exactly a household name, but those who hired her think she'll make Indianapolis the best host city ever. Allison Melangton, 46, is the first paid member of...

Video firm takes new direction: Harkness named chief exec after Mays acquires Pathway.(Pathway Productions named Michael Husain as new chief executive officers)
October 6, 2008... Pathway Productions, one of the city's highest-profile video production firms, has a new owner, a new CEO and a new plan to blaze a trail to prosperity. Michael Husain, who founded the company from his basement in 1996, earlier this year...

Patch work: apples, pumpkins, kids keep tour guide hopping.(On the CLOCK: an occasional look at interesting jobs)(Ruth Butterfield)
October 6, 2008... [ILLUSTRATION OMITTED] It's 8:30 a.m. on a Friday and Ruth Butterfield, 46, is putting out fresh-baked sugar cookies and jugs of chilled apple cider, fulfilling one of her most important duties as a tour guide at Beasley's Orchard &...

Firms with debt in check starting to reap rewards.(BEHIND THE NEWS)
October 6, 2008... [ILLUSTRATION OMITTED] Managing the balance sheet. The very phrase is sleep-inducing. But in times like these, doing it well is what separates the winners from the losers. In the winners' column is Simon Property Group Inc., which...

Greenwood company hits it out of the park: Big League Tours tripled its revenue this year.(Glenn Dunlap)(Company overview)
October 6, 2008... While most Major League Baseball fans are focused on this year's playoffs, local entrepreneur Glenn Dunlap is already thinking about next year. Dunlap formed Greenwood-based Big League Tours in 2006, offering group trips to big-league...

Eli Lilly and Co.(ON THE RECORD)(Brief article)
October 6, 2008... An Oct. 1 Wall Street Journal report identified Indianapolis-based Eli Lilly and Co. as the unnamed suitor offering to acquire New York-based cancer drug developer ImClone Systems Inc. for $6.1 billion. ImClone said it is in talks with a large...

ExactTarget Inc.(ON THE RECORD)(Brief article)
October 6, 2008... Indianapolis e-mail marketing firm ExactTarget Inc. is growing, with plans to create 300 jobs downtown within five years. The company, which won IBJ's 2007 Enterprise Award, announced the $25 million expansion Oct. 1. ExactTarget said it plans...

Commuter rail line.(ON THE RECORD)(Brief article)
October 6, 2008... The Indiana Regional Transportation Council voted unanimously Sept. 26 to proceed with a $160 million plan to establish a 19-mile commuter rail line between Noblesville and downtown Indianapolis. The proposal calls for running diesel engines...

Eli Lilly and Co.(ON THE RECORD)
October 6, 2008... Federal regulators let a self-imposed Sept: 26 deadline pass without ruling on Eli Lilly and Co.'s application for a new blood thinner with blockbuster potential. The Indianapolis drug-maker said in a statement that the U.S. Food and Drug...

Kite Realty Group Trust.(ON THE RECORD)(Brief article)
October 6, 2008... Kite Realty Group Trust said Oct. 2 that it has raised about $50 million by selling stock, a move the shopping center developer says positions it to pursue growth opportunities. The Indianapolis-based company sold 4.7 million shares, which were...

Pac-Van Inc.(ON THE RECORD)(Brief article)
October 6, 2008... General Finance Corp. has completed its $159 million purchase of Pac-Van Inc., the Indianapolis company that leases mobile offices and storage units. California-based General Finance announced in July that it would acquire Pac-Van parent Mobile...

Trimedx LLC.(ON THE RECORD)(Brief article)
October 6, 2008... Trimedx LLC, an Indianapolis firm that maintains and manages clinical health care equipment, plans to add 108 positions as part of a $1.4 million expansion. The new jobs would average $35.12 an hour, the company said in an application for city...

Emergency rescue package.(ON THE RECORD)(Brief article)
October 6, 2008... Indiana's congressional delegation voted 6-3 against the $700 billion emergency rescue package for the financial markets, which the U.S. House defeated by a 228-205 vote Sept. 29. The bill's failure sent Wall Street--and many Indiana...

Purdue University.(ON THE RECORD)(Brief article)
October 6, 2008... Talk about a lump of coal. Purdue University retail expert Richard Feinberg said Oct. 2 that retailers might face their worst Christmas season in 15 years. The glum prediction was prompted by the sluggish economy, which has pushed Indiana's...

Emmis Communications Corp.(THE WEEK AHEAD)(Brief article)
October 6, 2008... Beleaguered Emmis Communications Corp. is scheduled to report second-quarter financial results Oct. 10. One of Indianapolis' highest-profile businesses, Emmis has seen its stock fall 89 percent since early 2007 amid a downturn in the radio...

Chain's calorie disclosure could help the battle of the bulge.(ON THE RECORD)(Brief article)
October 6, 2008... Chain's calorie disclosure could help the battle of the bulge Want fries with that? Maybe not if you knew how many calories they're packing. As many Americans battle their increasingly super-sized waistlines, fast-food giant Yum! Brands Inc....

Pangea Lingua suddenly says adieu: translation firm had served Indiana's largest companies.(Company overview)
October 6, 2008... Not long ago, translation firm Pangea Lingua was one of Indianapolis' women-owned-business success stories. Its founder, Tamra Lewis, was named to IBJ's "40 Under 40" list in 1999. Over the next few years, lengthy profiles followed in the...

Signs of hope as many retreat: some shrug off economic fears.(EDITORIAL)(Editorial)
October 6, 2008... The front page of this week's IBJ tells of companies that are in dire straits--or out of business--after banks, jittery about a financial collapse, called their loans or canceled their credit line. Stories like these put a local face on the...

Downtown reflected in shoeshine.(Commentary)(Column)
October 6, 2008... [ILLUSTRATION OMITTED] Snake was proprietor of the shoeshine stand at Cento Shoes on South Meridian Street and, like he said, he could "make your shoes shine like new money every time." For over 27 years, he applied his spit and polish...

Correction.(EDITORIAL)(Correction notice)
October 6, 2008... Indianapolis-based Lilly Endowment Inc. gave more than $237 million to education causes in 2005. That figure was incorrect in a story on page 5A last week.

Crisis pits fairness against urgency.(EYE ON THE PIE)
October 6, 2008... As these words are written, we do not know what Congress will decide to do about the mortgage mess. But it is clear folks are angry about the inequity of rescuing borrowers, lenders or traders with funding from the pockets of the innocent. ...

Contributions to the deflation+ of your vote: campaign donations can amount to bribery.(VIEWPOINT)(Viewpoint essay)
October 6, 2008... Lots of people believe that campaign contributions and the influence that surrounds them are actually bribery. While it's true that some contributions are made with no strings of any kind attached, still many voters find it difficult to...

Public likes U-verse.(LETTERS)(Letter to the editor)
October 6, 2008... AT&T U-verse has received industry recognition for our leading service and customer satisfaction. Unlike Chris O'Malley's Sept. 29 article, "U-verse generates complaints," this recognition is based on the experiences and opinions of a wide...

Consolidation can overlook community.(LETTERS)(Letter to the editor)
October 6, 2008... In Louis Mahern's letter (Sept. 15), he agrees with the Keman-Shepard plan to consolidate local government. Merging systems into larger systems does not always lead to more efficiency, as even casual followers of previous government mergers are...

Don't blame stadium for poor sound.(LETTERS)(Letter to the editor)
October 6, 2008... I read the [Sept. 22] commentary by Marc Allan about the recent Kenny Chesney concert at Lucas Oil Stadium and also On The Beat about the poor audio during the concert. I too was there and would agree with many of the comments about the sound...

Column on Palin didn't do her justice.(LETTERS)(Letter to the editor)
October 6, 2008... As chairman of the Indiana Republican Party, I feel compelled to answer the questions [Mickey Maurer] raised [in his Sept. 22 column] about Sen. John McCain and his selection of Gov. Sarah Palin as nominee for vice president. Unfortunately...

Minister turned off by Republicans.(LETTERS)(Letter to the editor)
October 6, 2008... I read [Bruce Hetrick's Sept. 8 column] titled "A pregnant GOP primer on civil liberties" and wanted you to know that expressed my sentiments to a tee. I was a "young Republican" and even voted for Nixon. When the Reagan revolution co-opted the...

'Gay amendment' is a terrible idea.(LETTERS)(Letter to the editor)
October 6, 2008... I am the hiring partner for Locke Reynolds and I chair its Diversity Committee. My partner, Kim, works at Lilly and we are raising our 6-year-old daughter in Cannel. [Mickey Maurer's Sept. 8] piece was surprising, refreshing and...

Thanks for tribute to Jim Browning.(LETTERS)(Letter to the editor)
October 6, 2008... Thank you for mentioning my father in your great [Bill Benner column on Sept. 221. Your article defined my childhood. At my father's calling April 15, a slide show was running continuously, sharing pictures of all the people and events....

Star Studio allows visitors to create art.(LETTERS)(Letter to the editor)
October 6, 2008... I read your [Sept. 8] review of "More Than Four Legs: A Closer Look at Chairs." Although I was not involved with this exhibition and really do not know all the exhibition details, I do know the purpose of the Star Studio. One of the things...

Lilly chases Alzheimer's treatment.(ON THE BEAT)
October 6, 2008... Eli Lilly and Co. has launched a second Phase 3 clinical trial of one of its experimental Alzheimer's medicines, as the company rushes to see if it can produce the first effective treatment of the incurable disease. Lilly hopes that its...

Jeff Pigeon joins WKLU morning show with Libby Farr.(MEDIA & MARKETING)(Brief article)
October 6, 2008... WKLU-FM 101.9, which had spent much of the last three years clawing its way up the list of the city's most-listened-to radio stations before a decline last year, has made a major hire that could send its ratings back up. [ILLUSTRATION...

Legend's last day looms.(PHILANTHROPY)(Duane Etienne of Central Indiana Council on Aging )(Brief article)
October 6, 2008... In one of the more remarkable tenures of any not-for-profit head in the city, Duane Etienne on Oct. 9 will spend his last day in the office after 29 years as president and CEO of CICOA Aging & In-Home Solutions. [ILLUSTRATION OMITTED] ...

Retailers plan new locations.(RETAIL)(Brief article)
October 6, 2008... Several restaurants and retailers are planning new locations: * Burberry plans to open its first Indianapolis store at The Fashion Mall at Keystone. The 4,000-square-foot location is slated to open in November. * Dunkln Donuts plans to...

IRL television ratings rising; 2009 TV schedule unveiled.(SPORTS)(Brief article)
October 6, 2008... [ILLUSTRATION OMITTED] In the first season of open-wheel racing unification, the Indy Racing League registered viewership increases on its telecasts on ABC, ESPN and ESPN2. For the 17 races on the IRL schedule this year, race viewership...

Airport terminal tour is free, unlike peeks at new stadium.(TRANSPORTATION)(Brief article)
October 6, 2008... [ILLUSTRATION OMITTED] It was a slap in the face to some Indianapoils Celts fans who couldn't get their hands on the limited number of free tickets to tour the new Lucas Oil Stadium and had to pay for a peek. Those fans, after all, are...

Burgess & Niple.(ARCHITECTURE/DESIGN/ENGINEERING)(Steven Anslinger,Brian Martin,Kimberly Pitcher are appointed)(Brief article)
October 6, 2008... [ILLUSTRATIONS OMITTED] Burgess & Niple has added the following: * Steven Anslinger, senior bridge engineer; * Brian Martin, project manager, planning and environmental services; and *Kimberly Pitcher, senior transportation engineer.

Kate Borkowski has joined Salin Bank & Trust Co.(BANKING)
October 6, 2008... * Kate Borkowski has joined Salin Bank & Trust Co. as vice president and trust officer. [ILLUSTRATION OMITTED]

Carol Steiner Applegate has joined Business Ownership Initiative of Indiana.(CIVIC/NOT-FOR-PROFIT)(Brief article)
October 6, 2008... * Carol Steiner Applegate has joined Business Ownership Initiative of Indiana as director of programs and services. * Sharetha Marshall has joined as a business counselor. [ILLUSTRATIONS OMITTED]

Domestic Violence Network of Greater Indianapolis.(CIVIC/NOT-FOR-PROFIT)(Brief article)
October 6, 2008... The Domestic Violence Network of Greater Indianapolis has named the following new board members: Bill Kingston, Community Health Network Foundation; Tom Goertemiller, Neace Lukens; Tom Brink, Methodist Occupational Health Centers; and Carolin...

Bowen Engineering Corp., Fishers.(CONSTRUCTION)(Brief article)
October 6, 2008... Bowen Engineering Corp., Fishers, hag added the following: Richard Kincade, millwright foreman; Leslie Spence, estimating coordinator; Gaye Willis, receptionist/project coordinator; Jason Lynch and Paul Creasey, project engineers; Darin...

Herron School of Art and Design.(EDUCATION)
October 6, 2008... Kathy Pataluch has been named director, Basile Center for Art Design and Public Life, at Herren School of Art and Design at IUPUI.

Brian Kelly has joined the Indianapolis investment sales team.(FINANCE)
October 6, 2008... Brian Kelly has joined the Indianapolis investment sales team at Holliday Fenoglio Fowler LP.

Patrick Roberts has joined Veros Partners Inc. as an advisor.(FINANCE)
October 6, 2008... Patrick Roberts has joined Veros Partners Inc. as an advisor. Kyle Thompson has joined as a wealth management senior advisor.

Managed Health Services.(HEALTH CARE)
October 6, 2008... Patrick J. Rooney has been named president and chief executive officer of Managed Health Services.

Ann Schrage has joined Advanced Physical Therapy.(HEALTH CARE)
October 6, 2008... * Ann Schrage has joined Advanced Physical Therapy as director of centralized billing. [ILLUSTRATION OMITTED]

George H. Abel II has joined as the leader of the real estate group.(LAW)
October 6, 2008... George H. Abel II has joined as the leader of the real estate group at Easter & Cavosie.

Wade D. Fulford has joined Dale & Eke.(LAW)
October 6, 2008... Wade D. Fulford has joined Dale & Eke, Professional Corp.

American Staffing Association.(PROFESSIONAL/TRADE)
October 6, 2008... * John A. Elwood, Elwood Staffing, has been named to the board of directors of the American Staffing Association. [ILLUSTRATION OMITTED]

Glass Doctor of Indianapolis.(SERVICES)
October 6, 2008... Tim Jokl has been named owner of the Glass Doctor of Indianapolis franchise.

H&R Block.(SERVICES)
October 6, 2008... * Susan Wiggenhorn has been promoted to regional training coordinator for Indiana at H&R Block. [ILLUSTRATION OMITTED]

Richard Huff has joined Officescape.(TECHNOLOGY/TELECOMMUNICATIONS)
October 6, 2008... * Richard Huff has joined Officescape as a programmer/ analyst. [ILLUSTRATION OMITTED] * Shawn Harrison has joined as sales manager, Purdue Research Park location. [ILLUSTRATION OMITTED]

Paul Bucina has joined Strategic Data Management.(TECHNOLOGY/TELECOMMUNICATIONS)
October 6, 2008... * Paul Bucina has joined Strategic Data Management as an account executive. [ILLUSTRATION OMITTED]

Firm off to a FAST start: investors backing company's kidney assessment technology.(Focus: LIFE SCIENCES & BIOTECH)(FAST Diagnostics)(Company overview)
October 6, 2008... [ILLUSTRATION OMITTED] FAST Diagnostics quickly is becoming one of the more promising companies in Indiana University's efforts to commercialize its discoveries. Incorporated in November 2006, it is developing a method to measure...

Arcadia banking on DailyMed: company hopes product sales can help it escape debt, lift stock.(Focus: LIFE SCIENCES & BIOTECH)(Company overview)
October 6, 2008... When Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp. crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of...

IU makes plans to hatch more businesses: incubator in Bloomington hopes to duplicate success of local Emerging Technologies Center.(Focus: LIFE SCIENCES & BIOTECH)
October 6, 2008... Indiana University is nearing construction on a business incubator in Bloomington that it hopes will rival the success of its counterpart in Indianapolis. Ground should be broken late this month or in early November, with completion...

Analysts fault FDA for market delay of Lilly's prasugrel.(FOCUS: LIFE SCIENCES & BIOTECH)
October 6, 2008... Eli Lilly and Co.'s frustrating attempt to get a ruling from federal regulators on its experimental blood thinner prasugrel may be a test case of life under a more cautious--and understaffed--U.S. Food and Drug Administration. That's the...

Largest Indiana business incubators.(FOCUS: LIFE SCIENCES & BIOTECH)
October 6, 2008... Largest Indiana Business Incubators (Ranked by total square feet) TOTAL SOUARE FEET RANK INCUBATOR SQUARE FEET 2007 ADDRESS ...

Hyperactivity drug advertisements draw attention of FDA.(FOCUS: LIFE SCIENCES & BIOTECH)
October 6, 2008... Bloomberg News Drug advertisements for five hyperactivity medicines on Web sites, including YouTube, and in other promotional materials were cited by U.S. regulators as incomplete and misleading. Indianapolis-based Eli Lilly and Co.,...

Trimedx LLC plans expansion, to add 108 jobs.(FOCUS: LIFE SCIENCES & BIOTECH)(Brief article)
October 6, 2008... Trimedx LLC, an Indianapolis-based firm that maintains and manages clinical health care equipment, is planning to add 108 positions as part of a $1.4 million expansion. The new jobs would average $35.12 an hour, the company disclosed in an...

Avoid a royalty mess by reviewing your patent license.(VOICES FROM THE INDUSTRY)(Quanta Computer v. LG Electronics)
October 6, 2008... The U.S. Supreme Court's recent decision in Quanta Computer v. LG Electronics left LG stuck in "a royalty mess" that should inspire local businesses to review their patent licenses. More specifically, the decision raises important questions...

Advocates did bad job selling rescue package.(INVESTING)
October 6, 2008... The word bailout is being used more than the folks at Merriam-Webster ever could have imagined. Yet, bailout is the wrong term to characterize the rescue plan the Federal Reserve and the Treasury presented to Congress. Our leaders have done a...

Historic week closes with uncertainty.(STOCKS)
October 6, 2008... Stocks swung wildly over the past week, as investors fretted over worsening economic conditions and over whether Congress finally would pass a financial-bailout measure. The Dow Jones industrial average on Sept. 29 shed 778 points--its...

Failure to work with borrowers compounded woes.(ECONOMIC ANALYSIS)(Column)
October 6, 2008... Underlying the financial turmoil is a significantly dreary problem in housing markets. It is a bit easier to understand, but understanding will almost certainly lead to anger and frustration. The 1995 revisions to the Community Reinvestment...

PACE/OAR Inc.(NOT-FOR-PROFIT OF NOTE)(Organization overview)
October 6, 2008... 2855 N. Keystone Ave., Suite 110 Indianapolis 46218 Phone: (317) 612-6800 Fax: (317) 612-6811 Web site: www.pace-oar.org Founded: PACE (Public Action in Correction Effort), 1960; OAR (Offender Aid and Restoration),...

Emmis Communications Corp.(PROXY CORNER)(Financial report)
October 6, 2008... Emmis Communications Corp., One Emmis Plaza, 40 Monument Circle, Suite 700, Indianapolis, IN 46204. (www.emmis.com) is a media company that owns radio stations and magazines. For the quarter that ended May 31, the company reported net income of...

Bankruptcies.(RECORDS)(Public notice)
October 6, 2008... B.L. Burdes Electrical Contracting Inc., 5855 Kopetsky Drive, Suite E, 46217. Chapter 7 liquidation. Assets: $80,259; liabilities: $1,063,888. Mid-Region Concrete LLC, 1802 Martin Luther King Drive, 46202. Chapter 7 liquidation. Assets:...

Calendar.(RECORDS)(Calendar)
October 6, 2008... Business-related calendar items should be submitted two weeks before event date. Contact bmaurer@ibj.com. Oct. 6, 11:30 a.m.: Professional Referral Exchange, Northeast Indy, Lifetime Fitness meeting room, 8705 Castle Creek Parkway. Contact...

Concord Neighborhood Center.(FUND RAISING)
October 6, 2008... Concord Neighborhood Center to benefit from Colts/Lucas Oil Stadium parking at Meridian and Morris Streets for all Colts home games. Close walking at $20.

Second Helpings to benefit from Harvest Time on Oct. 10.(FUND RAISING)
October 6, 2008... Second Helpings to benefit from Harvest Time on Oct. 10 at the Ritz Charles in Carmel 7-10 p.m. Tickets: $25-$75. Contact 632-6224.

Eagle Creek Park Foundation to benefit from the Fall Festival on Oct. 11.(FUND RAISING)
October 6, 2008... Eagle Creek Park Foundation to benefit from the Fall Festival on Oct. 11 at Eagle Creek Park from 10 a.m. to 6 p.m. Admission: $5 per vehicle Contact 327-7100.

Hillcrest Historic Foundation & Binford Redevelopment and Growth.(FUND RAISING)(Brief article)
October 6, 2008... Hillcrest Historic Foundation & Binford Redevelopment and Growth to benefit from Octoberfest on Oct. 11 at Hillcrest Country Club, 6098 Fall Creek Road, from 6-10 p.m. Admission: $25. Contact: 841-0755.

School on Wheels.(GRANTS)
October 6, 2008... School on Wheels received $7,500 from the United Hope Foundation.

Local development organizations.(GRANTS)
October 6, 2008... Local development organizations are to receive a total of $100,000 from MIBOR.

Gretchen Gutman.(IN RECOGNITION)
October 6, 2008... Gretchen Gutman has been named the Indiana University School of Public and Environmental Affairs 2008 Distinguished Alumni.

Rebecca Baer.(IN RECOGNITION)
October 6, 2008... Rebecca Baer has received a 2008 Graduate of the Last Decade Award from the Ball State University Alumni Association.

Myra Borshoff Cook and Michael D. McDaniel have received 2008 Distinguished Alumni Awards.(IN RECOGNITION)
October 6, 2008... Myra Borshoff Cook and Michael D. McDaniel have received 2008 Distinguished Alumni Awards from Ball State University.

Easter & Cavosie.(RELOCATIONS)
October 6, 2008... Easter & Cavosie has moved to 10455 College Ave.

AG candidate wants more power to fight corruption.(Greg Zoeller)(Brief article)
October 6, 2008... The attorney general's office should seek more legislative authority to fight public corruption and boost confidence in the handling of taxpayer cash, Republican candidate Greg Zoeller said. Zoeller said he would ask the General Assembly to...

Local money managers' advice: don't lose your nerve: top wealth advisers eye opportunities for investment gains, tax savings in wake of recent Wall Street unrest.(CREDIT CRISIS)
October 6, 2008... In a market this topsy-turvy, it's tempting to panic. Few know that better than Indianapolis' top investment managers, whose phones these days are ringing regularly. Spooked by Wail Street's credit crisis, investors are gloomily...

Turmoil thrashes regional banks: as economy weakens, big local players fight to keep capital customers' confidence.(CREDIT CRISIS)
October 6, 2008... [ILLUSTRATION OMITTED] A rush of government-aided acquisitions has bestowed a too-big-to-fall halo over the likes of JP Morgan Chase, Bank of America and Citigroup. But what about the formidable regional banks that operate more than...

Comments on the crisis.(CREDIT CRISIS)(Brief article)
October 6, 2008... [ILLUSTRATION OMITTED] "I think Indiana is In a fairly good position because we've tended to be much more moderate in our lending activities." Jean Wojtowicz, Cambridge Capital Management Corp. president [ILLUSTRATION OMITTED] ...