Indianapolis Business Journal articles from September 2004

Indianapolis Business Journal archives from September 2004

A custard comeback: family regains Ritter's control, taps son to fix problems.
September 6, 2004... The Ritter family last week reacquired control of the Ritter's Frozen Custard business and installed one of the founder's sons to replace CEO Saul Lemke, who was widely criticized by franchisees. Family members just 17 months ago had sold...

Hub may enlarge by way of China; FedEx consolidation strategy could boost shipments, jobs.
September 6, 2004... China is shaping up as a major growth front for FedEx Corp., and the parcel delivery company's Indianapolis hub could be at the center of a strategy to increase that sector. FedEx officials at the company's Memphis, Tenn., headquarters are...

Docs can't save Winona; hospital owners call it quits after losing financial lifeline.(doctors)
September 6, 2004... Rural independent hospitals can survive by breeding deep loyalty among patients. In some cases, extra federal money helps. Their city counterparts can make it on their. own by building that same loyalty, serving a niche the competition...

Andersen alumni hope reuniting will feel good; ex-employees of defunct accounting firm plan local event.
September 6, 2004... Arthur Andersen LLP may be gone, but a few former employees of the shuttered accounting firm want to keep its memory alive. They're confident fellow alumni of the local office share similar feelings and will want to spend $35 to attend a...

Browning seeking industrial foothold; developer accumulates 1,100 acres near Plainfield.
September 6, 2004... Locally based developer Browning Investments Inc. has made a massive Hendricks County land play in an attempt to secure its future in the central Indiana distribution market. Browning has much of an 1,100-acre parcel north of its Plainfield...

Odle's 'psychic income' buys top job; seasoned leader takes over as CEO for both Methodist, IU hospitals.(chief executive officer)
September 6, 2004... New Methodist Hospital President and CEO Sam Odle won't have to spend time shaking hands and learning names while he settles into the job. Odle, who assumed the same titles with IU Hospital on Sept. 1, has spent the past 23 years working...

Why ATA is losing out to higher-cost rivals.(ATA Holdings Corp.)
September 6, 2004... ATA Holdings Corp. still has among the lowest operating costs in the airline industry. So why are competitors drubbing the Indianapolis company, rather than the other way around? "That is the billion-dollar question," said Michael Miller,...

Power cooperative needs more capacity; regulators approve agency's request to finance $850m.
September 6, 2004... The Carmel-based Indiana Municipal Power Agency has received the green light from state utility regulators to finance $850 million to acquire or construct additional power generation for its members. IMPA's new ability to let huge bonds to...

Information exchange prepares for pilot testing; IHIE also welcomes Dr. J. Marc Overhage as CEO.(chief executive officer)(Indiana Health Information Exchange)
September 6, 2004... The Indiana Health Information Exchange starts September with a new CEO and plans to launch pilot tests on its information-sharing network. The not-for-profit's board last month approved the appointment of Dr. J. Marc Overhage, a scientist...

Group hopes to increase Hoosiers' research grants; Indiana lags behind neighbors for SBIR awards.(Small Business Innovation Research)
September 6, 2004... When it comes to accessing federal research dollars, Indiana has long trailed the majority of its neighbors. Former congressional candidate Brose McVey hopes to help change that trend. McVey, who made an unsuccessful Republican bid against...

Gary Lee taking foot off the accelerator; Whiteland Raceway Park on the block for $1.28m.
September 6, 2004... Local motorsports personality Gary Lee is looking to lower his RPMs. The broadcaster-turned-go-kart entrepreneur is looking to sell Whiteland Raceway Park for $1.28 million. Lee bought the facility just east of U.S. 31 in Whiteland in...

Golf club bent on growth taking a swing at Indy; business plan centers on attracting celebrity members.
September 6, 2004... Despite dramatic golf course development here in recent years, a Nashville, Tenn., company thinks it can mix celebrity appeal and a family-oriented private country club atmosphere to find success in central Indiana. Executive Golf Partners...

Pike center opens curtain on new season, new look; donors bring more independence for venue.(Pike Performing Arts Center)
September 6, 2004... From a bowl of lemons, make lemonade. That old adage isn't the theme for the upcoming season at Pike Performing Arts Center, but it might as well be. After two years of construction on the adjacent Pike Freshman Center, PPAC has a new...

IndyGo overhaul should be priority; absence of public transportation is a barrier to economic growth.
September 6, 2004... There weren't many surprises in the findings of a task force convened by Mayor Bart Peterson to study public transportation in Indianapolis. Its just-released report confirmed what we already knew: The city's public transportation system is...

'60s bands reunite at Vogue.(Commentary)(Column)
September 6, 2004... Any high school kid growing up in Indianapolis in the 1960s, particularly on the north side, remembers names like Sir Winston and the Commons, The End, and The Boys Next Door. Along with a handful of other rock 'n' roll bands, these groups...

Corrections.(Editorial)(Correction Notice)
September 6, 2004... * Scott Jones and Paul DeLacey are no longer affiliated with Escient Inc. A story last week about Gazelle TechVentures inaccurately described the full-time positions of the men, both of whom serve on Gazelle's executive committee. The story...

Air-transit event will blow your mind.(Eye On The Pie)(Column)
September 6, 2004... If you are looking for an opportunity to expand your understanding of tomorrow, clear everything else off your calendar for Sept. 15. Then go to the SATS Indiana Web site (www.insats.org) to register for a free conference on the "Upcoming...

An Athens trip that will go down in history: Columnist Susan Williams is running for state superintendent of public instruction. Her column is on hiatus until after the Nov. 2 election.(Viewpoint)
September 6, 2004... I read all the same reports about Athens that you did. The venues would not be ready. Security could not be guaranteed. The traffic would be horrendous. The searing August heat would bring power outages. I lowered my expectations and hoped for...

Accident was result of careless culture.(Letters)(Letter to the Editor)
September 6, 2004... I just completed [Greg Andrews' Aug. 23] column on Lawrence Inlow's tragic and untimely death. I'm left with one prevailing thought that seems indicative of the entire regime under Steve Hilbert's leadership and manifests itself through their...

Indianapolis Works is of uncertain value.(Letters)(Letter to the Editor)
September 6, 2004... It was with great relief that finally someone in the print media has explained that what drove Mayor Peterson to propose "Indianapolis Works" is his need to get relief for his pre-1977 pension obligations in the range of $470 million over the...

City boasts many groups for women.(Letters)(Letter to the Editor)
September 6, 2004... I would like to respond to the viewpoint by Barbara Branic in the Aug. 16 issue and to thank her for highlighting many efforts under way to help women and girls in need and to connect women who want to give back to our community with meaningful...

Anderson foundation serves community.(Letters)(Letter to the Editor)
September 6, 2004... Thank you [columnist Bill Benner] for attending the grand opening of Erskine Elementary School in Anderson. The "humble hero" story [in the Aug. 23 issue] is so well done, focusing on Carl, but conveying his and his family's intention to...

Lawyer launches newsletter.(Environment)(Brief Article)
September 6, 2004... The owner and editor of Indiana Utility Report has launched a related publication called Indiana Environment & Nature. Robert Johnson, who once practiced utility law as a partner at Bose McKinney & Evans LLP, said he saw a need for an...

Ports of Indiana flexes new bonding, leasing muscle.(Manufacturing)(Brief Article)
September 6, 2004... The Ports of Indiana recently took advantage of state legislation that makes it more a player in statewide economic development. Ports officials Aug. 31 approved providing $11 million in real estate financing for Berry Plastics Corp. to...

Judge dismisses Humane Society cases.(On The Beat)
September 6, 2004... Humane Society of Indianapolis cleared a hurdle on its path to financial recovery Aug. 31, when a judge ruled that other animal-welfare groups don't have the legal standing to challenge how the agency handles a decades-old public charitable...

Regional Woman magazine on the way to St. Louis.(Media & Marketing)
September 6, 2004... Indianapolis-based Weiss Communications is moving ahead with plans to introduce its Indianapolis Woman magazine concept to other communities. St. Louis Woman will debut with a holiday issue published in late October, said Weiss' Judy...

Perennial powerhouse WFMS-FM 95.5 is in the running for the Country Music Association's station of the year honor, following wins in 2000 and 2001.(Media & Marketing)(Brief Article)
September 6, 2004... Perennial powerhouse WFMS-FM 95.5 is in the running for the Country Music Association's station of the year honor, following wins in 2000 and 2001. The Susquehanna Indianapolis-owned station was one of five nominees in the large-market...

Shank Public Relations Counselors Inc. has been hired to provide community relations.(Media & Marketing)(Brief Article)
September 6, 2004... * Shank Public Relations Counselors Inc. has been hired to provide community relations, public relations and management consulting services to Wal-Mart in Indiana. Arkansas-based Wal-Mart employs more than 36,166 people in Indiana and...

Work begins on Westfield park.(Real Estate)(Brief Article)
September 6, 2004... Work begins on Westfield park Custom Concrete Co. Inc. on Aug 31 broke ground on its headquarters in Custom Commerce Park, a 53-acre planned unit development near U.S. 31 and State Road 32 in Westfield. The park is owned by the Carr family,...

Clay Terrace racks up tenants.(Retail)(Brief Article)
September 6, 2004... Less than two months shy of opening, Clay Terrace at U.S. 31 and 146th Street in Carmel is signing tenants at a fast clip. Simon Property Group Inc., which is developing the mall with locally based Lauth Property Group inc., recently...

Meridian Music.(Retail)(Brief Article)
September 6, 2004... * Meridian Music opened Sept. 1 at its new Carmel location in the Providence at Old Meridian Center near Carmel Drive and Old Meridian Street. The 18,300-square-foot building will feature a larger Steinway showroom, a full-service...

IRL, GM to discuss contract.(Sports)(Brief Article)
September 6, 2004... Officials for General Motors Corp. said they will discuss the company's future with Indy Racing League following this season. Joe Negri, GM Racing IRL program manager, expects the Detroit-based automaker to ink a deal this off-season to...

AEP joins PJM power grid.(Utilities)(Brief Article)
September 6, 2004... Columbus, Ohio-based American Electric Power, which provides electricity to customers in northeast Indiana, will join the PJM Interconnection transmission grid operator Oct. 1. The addition of AEP allows PJM in Pennsylvania and the Midwest...

Crowe Chizek and Co. LLC.(Accounting)(APPOINTMENTS)(Brief Article)
September 6, 2004... Crowe Chizek and Co. LLC has added the following: David Dills, senior tax manager; Todd Christopher Young, Tracy Ross and Geoff DePriest, managers; Jacob Atherton, associate, Long Term Care/Senior Living Group; Pamela Champ, business...

BKD LLP.(Accounting)(APPOINTMENTS)(Brief Article)
September 6, 2004... BKD LLP has added the following: Ross Conne, Michelle Sachs, Carrie Whitcomb, Blake Hooper and Brad Cornelius, Audit Group; Mylene Egenolf, supervisor, Tax Department; Mark Hughes and Craig Kuechenburg, Tax Group; and Sara Huntzinger, Financial...

Peachin Schwartz & Weingardt PC.(Accounting)(Brief Article)
September 6, 2004... Peachin Schwartz & Weingardt PC has added the following: Dawn Alexander, manager, Assurance Services; and Candice Bradbury, staff accountant.

G & S Research.(Advertising/Marketing/Public Relations)(Brief Article)
September 6, 2004... Chad Moore has been promoted to project manager at G & S Research.

WilliamsRandall Marketing Communications.(Advertising/Marketing/Public Relations)(Brief Article)
September 6, 2004... * Grace Blanchard has joined WilllamsRandall Marketing Communications as senior writer.

Young and Laramore.(Advertising/Marketing/Public Relations)(Brief Article)
September 6, 2004... Young and Laramore has promoted the following: * Genie Wright, assistant account manager; and * Shawn Wilkie, management supervisor. * Carrie Roberts has joined as account manager.

Interior Treasures.(Architecture/Design/Engineering)(Brief Article)
September 6, 2004... * Staci Henderson has joined Interior Treasures as an interior designer.

Moody Nolan.(Architecture/Design/Engineering.)(Brief Article)
September 6, 2004... Mark Beebe has joined Moody Nolan as project assistant, Indianapolis office.

Special Olympics Indiana.(Civic/Not-For-Profits)(Brief Article)
September 6, 2004... Special Olympics Indiana has named the following officers: Tom Shea, Barnes & Thomburg LLP, chairman; Paul Reis, Drewry Simmons Vornehm LLP, vice chairman; Phil Bounsall, Walker Information Inc., secretary; and Bob Toiler, Community Physicians...

500 Festival.(Civic/Not-For-Profits)(Brief Article)
September 6, 2004... The 500 Festival has named the following officers: * Scott Blumanthal, Lin Television/WISH-TV, chairman; Al Wurster, Wurster Construction, vice chairman; and Mark Richards, Ice Miller, secretary. New board members are Nadine Givens, Bank One;...

Indiana Black Expo Inc.(Civic/Not-For-Profits)(Brief Article)
September 6, 2004... Joyce Q. Rogers has been named interim chief executive officer of the Indiana Black Expo Inc.

Central Indiana Community Foundation.(Civic/Not-For-Profits)
September 6, 2004... The Central Indiana Community Foundation has named the following: * Melynne Klaus, Women's Fund development officer; and * Tara Seeley, program officer for the Library Fund.

Electrical Training Institute.(Education)(Brief Article)
September 6, 2004... * Jim Patterson has been named director of the Electrical Training Institute.

I.U. Kelley School of Business In Indianapolis.(Education)(APPOINTMENTS)(Brief Article)
September 6, 2004... I.U. Kelley School of Business In Indianapolis has added the following: M. Kim Saxton, Tod Perry and Darrell E. Brown.

Networks Financial Institute.(Education)(Brief Article)
September 6, 2004... Scott Hawkins has been named a research fellow at Networks Financial Institute.

Oak Street Mortgage LLC.(Finance)(Brief Article)
September 6, 2004... Earl Shaw has joined Oak Street Mortgage LLC as application development manager. Mike Keleher has been promoted to director of Loan Operations.

Wealth Management & Planning LLC.(Finance)(Brief Article)
September 6, 2004... * Paul Coan has joined Wealth Management & Planning LLC as managing partner.

Irwin Mortgage Corp.(Finance)(appointments)(Brief Article)
September 6, 2004... * Jim Foote has been promoted to national operations manager for the retail channel at Irwin Mortgage Corp.

Raymond James & Asociates, Greenwood office.(Finance)(appointments)(Brief Article)
September 6, 2004... Stephen K. Hall has been named resident manager of Raymond James & Associates, Greenwood office.

Indiana State Unemployment Insurance Board.(Government)(appointments)(Brief Article)
September 6, 2004... * Sean Seyferth has been named to the Indiana State Unemployment Insurance Board and to the board of Indianapolis Downtown Inc.

Idiana Hand Center Fellowship.(Health Care)(appointments)(Brief Article)
September 6, 2004... The Indiana Hand Center Fellowship program has added the following surgeons: * Scott D. Alien, * Anup A. Bendre, * Nicholas B. Bruggeman, * Timothy Yiu-Chuen Dew, * Mohab B. Foad and * Imran A. Khan.

Baker & Daniels.(Law)(Jennifer L. Dill-McGill appointed)(Brief Article)
September 6, 2004... * Jennifer L. Dill-McGill has joined Baker & Daniels as an associate.

Krieg DeVault LLP.(Law)(Aaron R. Raft appointed)(Brief Article)
September 6, 2004... Aaron R. Raft has joined Krieg DeVault LLP as an associate.

Ice Miller.(Law)(Dewayne Hughes appointed)(Brief Article)
September 6, 2004... * Dewayne Hughes has joined the intellectual property group at Ice Miller.

IBJ Corp.(Media)(appointments)(Brief Article)
September 6, 2004... IBJ Corp. has added the following: * David P. Nanos, production manager; and * Frank V. Caito, contract publishing account executive.

Organization of Regulatory Administrators for Continuing Legal Education.(Professional/Trade)(Anne Davidson, elected president)(Brief Article)
September 6, 2004... Anne Davidson, Indiana Commission for Continuing Legal Education, has been elected president of the Organization of Regulatory Administrators for Continuing Legal Education. Cheri Harris has been named executive director.

The Linder Co.(Real Estate)(appointments)(Brief Article)
September 6, 2004... * Craig Ramsay has joined The Linder Co. as a leasing representative.

Premier Properties USA, Inc.(Real Estate)(appointments)(Brief Article)
September 6, 2004... Scott Blyze has joined Premier Properties USA, Inc. as vice president, Construction. Emily Kaiser has joined as tenant coordinator.

Re/Max Real Estate Groups.(Real Estate)(appointments)(Brief Article)
September 6, 2004... John Wood and * Carolyn Edwards have joined Re/Max Real Estate Groups as sales associates.

Century 21 Scheetz.(Real Estate)(appointments)(Brief Article)
September 6, 2004... Century 21 Scheetz has added the following associates: * James Embry, * Heather Kulwin, * Gary Beasley, * Brian Strout, * Tiffany Koo and * Mikel King

BoseTreacy Associates LLC.(Services)(appointments)(Brief Article)
September 6, 2004... * Patricia H. McGuffey has been promoted to senior vice president at BoseTreacy Associates LLC.

Reach USA.(Services)(appointments)(Brief Article)
September 6, 2004... REACH USA has named the following promotions: * Jeff Sauerteig, vice president; Pam Prickett, director of Sales; and Dan Smith, sales manager.

Verizon Wireless.(Technology/Telecommunications)(appointments)(Brief Article)
September 6, 2004... Earle Powers Jr. has been named associate director of information technology, Indiana/Michigan/Kentucky region, at Verizon Wireless. PERSONAL FINANCE/PORTFOLIO MANAGEMENT

Uniformity sought for college-savings plans: easier access to information would benefit investors.(Personal Finance/Portfolio Management)
September 6, 2004... A move is under way to make details of 529 plans easier to decipher for investors who are flocking to the college-savings vehicles in massive order. State-sponsored 529 plans--named for a section of the U.S. tax code--allow investors to...

New college students face financial tests; campus money advisers say missteps aren't rare.(Personal Finance/Portfolio Management)
September 6, 2004... This fall, a new crop of college freshmen are checking into dorm rooms at area campuses, most with a semester's worth of cash reserves and an unused credit card. By the time the semester ends in December, however, many of those students...

Wealthy's willingness to invest takes a dip, survey says.(Personal Finance/Portfolio Management)
September 6, 2004... The willingness Of wealthy U.S. households to invest slumped to a six-month low in August because of concern about the presidential election and higher fuel prices, according to an index compiled by Spectrem Group. The Spectrem Affluent...

Investment policy statement can guide your financial plan.(Voices From The Industry)
September 6, 2004... Many brokers and individual investors can find themselves floundering by not having a systemized investment process. They shoot from the hip with investments based upon current returns, rather than adhering to a diligent system. To avoid a...

Largest Indianapolis-area investment brokerage firms.(Focus: personal finance/portfolio management)(Directory)(Illustration)
September 6, 2004... Largest Indianapolis-Area Investment Brokerage Firms (Ranked by number of local licensed brokers) LICENSED BROKERS (1): OFFICES: RANK ...

Plates, paintings and junk complicate estate planning.(Voices From The Industry)
September 6, 2004... "Tangible personal property," or "tangibles," are the general labels attorneys apply to clothing, furniture, household goods, collections, antiques, vehicles or boats and other personal effects that are not jointly owned. Because tangibles...

Leading analyst reports market ripe for 'melt-up'.(Bulls & Bears)
September 6, 2004... One of the best market technicians of the last quarter century is John Mendelson. Mendelson graduated from Princeton University, was the head of technical market analysis at Morgan Stanley, and is now with Schwab Soundview Capital Markets....

Fed head heard only when news is considered good.(Investing)(Column)
September 6, 2004... When Federal Reserve Chairman Alan Greenspan speaks, does anyone listen? Only when he is saying something they want to hear. When it comes to the policy on interest rates, Greenspan can be a wily fox, offering analysis so full of...

Federal deficits now equal tax increases in the future.(Economic Analysis)
September 6, 2004... Thirty years ago, a young Harvard economist published a research article with a deceptively simple question in its title. "Are Government Bonds Net Wealth?" asked Robert Barro in the Journal of Political Economy in 1974, and those five...

Blue River Bancshares Inc.(Proxy Corner)
September 6, 2004... Blue River Bancshares Inc., 29 E. Washington St., Shelbyville, 46176 (www.shelby-countybank com), is a holding company for Shelby County Bank, which originates a variety of consumer and commercial loans. For the quarter ended June 30, the...

Threat from within greater than threat from without.(Return On Technology)(information security)(Column)
September 6, 2004... Some years ago, I sat with a family friend who had embarked on a truly fascinating venture. She had emerged from an apocalyptic divorce with emotional devastation but enough money to need accountants to keep track of it all. She favored...

IUPUI capital campaign tops goal, surpasses $1 billion.(Indiana University-Purdue University Indianapolis)(Brief Article)
September 6, 2004... IUPUI has raised more than $1 billion, far surpassing the $500 million goal it set when it started a seven-year capital campaign in 1997, the school announced Aug. 26. The university said it has exceeded the $1 billion mark by more than...

IRL to add St. Petersburg to 2005 schedule.(Indy Racing League)(Brief Article)
September 6, 2004... The Indy Racing League will add a 17th race to its recently released 2005 schedule. Officials with the IRL and St. Petersburg, Fla., on Sept. 2 announced plans for a street-course race to be held there April 3. The IRL on Aug. 3 released...

Developer sues Simon over Las Vegas mall stake.(Sheldon Gordon)(Simon Property Group Inc.)(Brief Article)
September 6, 2004... Simon Property Group Inc., the world's largest owner of shopping malls, is being sued by mall developer Sheldon Gordon for allegedly persuading him to sell his share of the Forum Shops at Caesars Las Vegas for below its real value. Gordon,...

ATA faces delisting on NASDAQ.(Brief Article)
September 6, 2004... Financially beleaguered airline company ATA Holdings Corp, has been informed its stock may be delisted on the NASDAQ because it has not maintained a minimum market value of publicly held shares, the company said in a filing with the Securities...

Guidant wins appeal in defibrillator lawsuit against St. Jude.(Brief Article)
September 6, 2004... Local medical-device maker Guidant Corp. Aug. 31 won the latest round in a long-running patent dispute with Minnesota-based St. Jude Medical Inc. The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., determined two Guidant...

Internet directory.(Directory)
September 6, 2004... COURIER/DELIVERY SERVICE * NOW COURIER We Deliver... and a whole lot more! 111 E McCarty St., Indianapolis, IN 46225 (317) 638-7071 or (800) 543-6066 www.nowcourier.com E-mail dholliday@nowcourier.com * Offices in Fort Wayne,...

Technology helps title firm stay on top of growth: company has discovered variety of ways to be more efficient.(Hamilton Title Security L.L.C.)(Company Profile)
September 6, 2004... The work can be tedious. First there's the title search, hours spent in the courthouse poring over property records to prove ownership and identify pitfalls. Then comes the exciting stuff: insurance policies, legal descriptions, closing...