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This Week's Paper
MAY 20-26, 2013
It's no secret that the top executives at public companies receive fat paychecks. This week, IBJ uncovers the goodies ladled on top of that compensation. Using public
records, reporter Dan Human finds that some officers at Indiana's top public firms spent tens of thousands of company
dollars on personal expenses such as travel, golf club memberships and financial advisers. Also in this issue, learn about
the $171
million rounded up by a local private investment firm to invest in other companies. And in Focus, J.K. Wall details
how mobile apps designed to improve users' health could be a real threat to Indiana's established life-sciences giants like Eli
Lilly and Co., Roche Diagnostics Corp., and Cook Medical Inc.
Front Page
Oesterle sells land to Angie's List, reaping millions
Angie’s List Inc. CEO Bill Oesterle has collected millions of dollars over the years by renting to the company property
for its campus along East Washington Street. Now, the landlord and chief executive is pocketing millions more by selling Angie’s
the property, at well above its assessed value.
Firms ladle trips, car allowances on top of rich pay packages
Senior executives at Indiana's public companies last year received, on average, more in perks than the typical Hoosier
earned all year, IBJ found after reviewing Securities and Exchange Commission documents for more than 60 Indiana
companies.
Top Stories
Centerfield rounds up $171M for new fund
An Indianapolis private investment firm has raised one of the largest-ever funds in the state. Centerfield Capital Partners
pulled in $171 million that it plans to invest in about 20 companies. Its two previous funds totaled $60 million and $116
million.
Athenaeum weighs bids for surface lot redevelopment
Three developers are competing to build a mixed-use project likely to include a parking garage on a surface lot adjacent to
the historic Athenaeum building.
Nancy Irsay puts party pavilion, home on market for $3.7M
Dozens of small charities have used the pavilion in south Carmel to host events, paying far below market rates.
WISH-TV rakes in bucks with city's only locally produced lifestyle show
"Indy Style"--an hour’s worth of TV programming on everything from recipes to music to fitness to screen-door-repair
tips--fills its show with guests who are a combination of invited guests, sponsors and one-time-only advertisers.
Spate of banking mergers may be just the beginning
First Merchants Corp. CEO Michael Rechin thinks a wave of bank mergers is coming—driven by financial institutions’
quest to increase profits in an environment where super-low interest rates continue to squeeze margins.
Focus
Mobile health apps could cut into state companies' market share
The future of Indiana’s sprawling health care and life sciences industry might be threatened by an unlikely source:
smartphone apps.
Indiana device makers absorbing Obamacare excise tax
The state's medical-device companies are finding that they cannot pass on the new medical-device tax created by Obamacare
to their hospital customers, causing them to continue to make cuts and to look to foreign markets for more profitable growth.
Study rebuts hospitals' argument on Medicare, rising costs
Rather than raising prices on private health insurers to make up for inadequate payments from the government, hospitals across
the country have been raising prices just because they can, according to a new study.
PINCUS: State needs better life sciences startup ecosystem
Indiana’s life sciences sector is mostly composed of legacy companies.
Perimeter
Greenwood, Whiteland try to spur, shape growth
Two Johnson County communities are determined to capture—and control—the next wave of suburban growth.
A&E, etc.
LOU'S VIEWS: In Indy Opera’s ‘Flying Dutchman,’ strong voices almost drowned by overdone visuals
Season closer tackled Wagner's large-scale seafaring tale. Plus, thoughts on ‘4000 Miles’ at the Phoenix Theatre.
DINING: Sandwich shop Fresco no mere supermarket sidebar
Third in a month-long series of Cultural Trail restaurant reviews.
BENNER: Cricket-loving Mayor Ballard might be ahead of his time
The stakes are lower, but the odds higher, compared with previous mayors who took risks with sports.
Opinion
EDITORIAL: CEOs should buy their own perks
It’s no secret that CEOs of public companies make a lot of money.<br><br>And in general, they earn it: It
takes talent, hard work and vision to oversee thousands of employees, answer to impatient shareholders, guard against competitive
threats, and keep the trains running on time, particularly at behemoths like Eli Lilly and Co., WellPoint Inc., Cummins Inc.
and Simon Property Group Inc.
MORRIS: I’m from the government, and I’m here to help
Obama's troubles might save us from his heavy-handed, second-term agenda.
DAVIS: Support workers' volunteerism
With businesses everywhere working to attract and retain great talent and customers, giving back to the community can end
up on the back burner. The time and effort required to connect with charities, plan events and provide time off from critical
business focus initially seems to be counterproductive. This paradigm leaves many leaders scratching their heads about corporate
social responsibility.
KENNEDY: We the ignorant people
Like it or not, the United States is a country where, increasingly, people read different books and newspapers, visit different
blogs, watch different television programs, attend different churches and even speak different languages.
Skarbeck: Financial markets brace for era of social media
Two recent episodes have regulators scrutinizing the role social media plays in the investment markets.
Hicks: Firing of Heritage researcher shows cowardice
A recent study by the Heritage Foundation, a conservative think tank, sheds a great deal of light on the sausage mill of policy
research, and the courage and integrity of the process of policy research altogether.
ALTOM: When it comes to big purchases, don’t follow the crowd
The most popular tech product isn't necessarily the one that is best for your business.
School choice segregates
Reflecting on the [May 13] article “Trying to Reclaim a Legacy,” please don’t forget
another group of people who took a risk: the taxpayers.
Transit skeptic lists demands
You ask how to get non-believers on board [May 13 editorial].
1. Show me one mass transit system in the nation that is self-supporting, including upkeep and depreciation with excess inflow of cash.
Stick to oval racing roots
Thanks for Benner’s [May 6] column. There are far too many street/grand prix races already.
In Brief
Kessler Mansion neighbors balk at business uses
An Indianapolis City-County Councilor is looking into the possibility of zoning violations at the massive north-side property.
The mansion will host a camp for entrepreneurs in June.
Eco devo veteran takes over Hamilton County Alliance
Former state Department of Commerce Chief Tim Monger took the reins of the economic development group after financial woes
forced the organization to reevaluate priorities. He plans an aggressive approach.
Convenience stores sue to sell cold beer in Indiana
An industry trade group filed a lawsuit Tuesday morning contending that Indiana liquor law is unconstitutional and unfairly
benefits liquor stores.
People
Records
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Can IBJ please stop referring to this property as "Kessler Mansion"? What a ridiculous title for the biggest, bloated, blight in our city. It's not a mansion. At best, it's an ideal site to shoot low-budget porn. Ahhh! Another business use!
Its stories like these that prove that a Ball State diploma is worth less than the paper that its printed on. A real institution of higher learning would have taken care of this long ago. No way should this crap be taught in a SCIENCE class.
It is such a shame that King Ballard has made Indianapolis into Chicago south with all of the rampant corruption.
How many of these 1,259 bills were actually heard and voted on on the floor vs how many were shot down in committee?
When a an arrogant young guy with essentially no experience and no qualifications for the job, was dropped into an Administrator position out of nowhere by his "mentor" in the Mayor's office things seemed fishy. Sometimes things are what they seem.