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Banking & Finance
Emmis' landmark deal with Apple paying big dividends: Locally based radio group now No. 2 iTunes affiliate
November 13, 2006
Anthony SchoettleEmmis Communications Corp. has a new mantra when it comes to emerging technology some say will kill the radio industry: If
you can't beat 'em, join 'em. Emmis entered a relationship with California-based Apple Computer Inc. nine months ago that
is paying big dividends. Since launching one of the radio industry's first iTunes storefronts on its stations' Internet sites,
Emmis officials said they have become the No. 2 iTunes affiliate based on sales. Only Internet behemoth Yahoo Music sells
more....
MoreLights, camera, Internet-More Web sites using video: Vodcast clips catching on as a way for organizations to deliver their
message in a new, more exciting way
November 13, 2006
Scott OlsonThe terms for emerging Internet technology are enough to make the less savvy long for the days when e-mail seemed cutting-edge.
The communication tool, especially among teens, has given way to instant messaging, of course. So it's no wonder colleges
and companies alike are starting to shun standard e- mail and Web-page marketing efforts in favor of video-on-demand clips,
known as vodcasts. "The computer was meant to be watched; it wasn't meant to be read," said Jon DiGregory, who founded...
MoreBEHIND THE NEWS: Another daunting challenge for veteran exec Cornelius
September 25, 2006
Greg AndrewsAnyone surprised that at age 62, Jim Cornelius would take on the bruising job of leading embattled drugmaker Bristol-Myers
Squibb shouldn't be. After all, the Zionsville businessman has surprised observers before. This is an executive who 12 years
ago gave up one of the top jobs in corporate America-chief financial officer of Eli Lilly and Co.-to become chairman of Guidant
Corp., then a much-maligned collection of medical-device firms that Lilly was spinning off into a stand-alone company. A risky
move,...
MoreFirst Internet's acquisition is no run-of-the-mill bank:
September 4, 2006
Greg AndrewsBEHIND THE NEWS First Internet's acquisition is no run-of-the-mill bank Bank mergers happen all the time in Indiana, but this
one is about as unique as they come. The buyer, Indianapolis-based First Internet Bancorp, was one of the nation's first Web-only
banks when it opened its doors in 1999. Today, it's among the top five in that field, with assets topping $445 million. The
seller is Indianapolis-based Landmark Financial Corp., parent of Landmark Savings Bank. Landmark Financial, with assets of...
MoreCredit union ordered to pay ex-executive $3.4M
August 14, 2006
Greg AndrewsA Marion County judge has ordered an Indianapolis credit union to pay its former CEO $3.4 million, saying it wrongly froze
the executive's accounts after accusing him of financial improprieties three years ago.
MoreDispute clouds Sky buyout of Union Federal
July 31, 2006
Greg AndrewsUnion Federal Bank's Fort Wayne-based parent is locked in a dispute that could put in peril the Indianapolis financial institution's
$330 million sale to Bowling Green, Ohio-based Sky Financial Group Inc.
MoreVOICES FROM THE INDUSTRY: Consumers rarely raise banks above commodity status
July 24, 2006
Jeffrey A.Toothpaste. Laundry bleach. Cat food. Banking services. Despite the hopes of many bank executives, vast numbers of consumers
rarely elevate their banks beyond everyday commodity status. Through traditional advertising and marketing, many banks attempt
to differenti ate themselves as the bank of choice or the bank that makes a difference. Repeat the tag line often enough and
hopefully potential customers will start to believe it. One fact underscores this unfortunate commodity service status: According
to recent market research, the No....
MoreMainSource grabs opportunities for growth: Greensburg-based bank not shy about acquisitions
July 24, 2006
Scott OlsonHonda Motor Co.'s decision to build a massive auto manufacturing plant near Greensburg has the small Decatur County town abuzz
with excitement. But a company already entrenched there is making some noise of its own. MainSource Financial Group Inc. has
increased assets an impressive 50 percent during the past year largely due to four acquisitions made by the publicly traded
bank holding company. "We're a little opportunistic," admitted MainSource President and CEO James Saner. "We really want to
grow, give...
MoreCity Securities buys lender in bid to reach new markets
July 24, 2006
Peter SchnitzlerCity Securities Corp., one of the largest investment firms based in Indiana, has purchased Columbus, Ohio-based ReCasa Financial
Group LLC, a specialty lender focused on rehabs of dilapidated houses.
MoreInvestment firm taps local talent: Riderwood opens office, targets mid-size companies
July 24, 2006
Scott OlsonAn East Coast investment-banking firm is opening an Indianapolis office and has recruited three high-profile professionals
who bring a wealth of experience to manage operations. Towson, Md.-based The Riderwood Group Inc. wants to help midsize companies
raise $5 million to $200 million in capital, a range largely ignored here by outside rivals, firm executives said. "There
really is not a national mid-market investment bank [in Indianapolis]," company President Mitchell Fillet said. "This is a
place where the big firms have...
MoreHitching its wagon to central Indiana: Wells Fargo quietly lassoes big share of local loans
July 24, 2006
Matthew KishHow big is the portfolio? Very big. How does it stack up to its rivals? Nobody knows for sure. The Federal Deposit Insurance
Corp. requires banks to report the deposits they hold at branches, but it doesn't require banks to spell out how much commercial
business they're generating geographically. "It's one of the biggest frustrations of the bank information that we [compile],"
said Karen Dorway, president of Bauer Financial Inc., a Coral Gables, Fla.-based bank rating service that tracks market...
MoreAlley's new aim: Consolidate electronics industry: Ex-banker shooting for $170M in revenue by 2012
July 10, 2006
Anthony SchoettleSince purchasing Escient Solutions in early 2003 and changing its name to Electronic Evolutions Inc., Mike Alley has increased
revenue 35 percent, to $6.5 million. That'll be small potatoes if Alley's dreams for the company pan out. Alley, former Fifth
Third Bank of Central Indiana president and CEO, wants to be a consolidator in the fragmented electronics and automation design
and installation industry. Toward that end, he partnered in late June with electronics industry veteran Daniel Knotts and
formed E2...
MoreBRIAN WILLIAMS Commentary:
July 10, 2006
On June 1, Gov. Mitch Daniels and officials from the Indiana Public Employees Retirement Fund announced the Indiana Investment
Fund, a $100 million investment vehicle. The fund will invest in early-stage startups and loans to mature firms. It will invest
in Indiana-What's wrong with local investment pros? based agriculture, manufacturing, information technology, transportation
and life sciences companies. Credit Suisse was selected to manage this new fund. As a global investment bank, Credit Suisse
certainly has skilled bankers who can evaluate...
MoreRadio tests HD waters: Indianapolis on leading edge of 'revolutionary' technology
June 26, 2006
Anthony SchoettleAnd more are coming. Indianapolis is leading the charge toward high-definition radio, thanks to the strong presence of national
players such as Emmis Communications Corp. and Clear Channel Communications, which operate a total of seven stations here.
But the technological revolution reaches far beyond our airwaves. Industry experts call HD the most radical change in the
radio landscape in 50 years, despite the fact that few listeners have the special radio receiver necessary to tune in the
new channels. "We're...
MoreBuzzing with Activity: Unique Broad Ripple biz ready to offer franchises
June 12, 2006
Scott OlsonBuzzing With ActivityUnique Broad Ripple biz ready to offer franchises For business partners Wendy Reed and Pam Weaver, life
these days is starting to look a lot like the frenzy their company name projects: Sugar Buzz. They're not really hopped up
on sweets, but the Indianapolis women are flying high nonetheless-buoyed by the glory of being featured in a national magazine
and the promise of franchising their unusual mix of children's parties and dropin day care. The longtime pals combined...
MoreeImagine Technology Group: Technology firm aims to deliver service with its software Owner: Hiring good employees key to small
company's success
June 12, 2006
Julie YoungCommunication-and simplicity-can be a challenge when it comes to tech talk. "It's like the old adage, if you ask a tech guy
what time it is, he'll tell you how to build a watch," said Joel Russell, president of Indianapolis-based software developer
eImagine Technology Group. But Russell works around potential "lingo" problems when he's meeting with customers. No matter
the industry, he looks for ways to automate inefficient processes using computer software. His goal is to save his clients
time...
MoreCredit Suisse applies Indiana private-equity-investment model in other states:
June 12, 2006
-Peter SchnitzlerNew York-based investment bank Credit Suisse is building quite a book of private-equity business in Indiana. Credit Suisse
has been chosen to manage the Indiana Public Employees' Retirement Fund's new $105 million Indiana Investment Fund. It also
directs the $73 million Indiana Future Fund, which was launched by BioCrossroads, a local organization dedicated to developing
the state's life sciences industry. Indiana's not the only place Credit Suisse is applying its expertise. Last fall, Ohio
formed the Ohio-Midwest Fund, a regionally...
MoreWomen MD numbers soar: Title IX passage in 1970 credited with spurring educational opportunities
June 12, 2006
Della PachecoWhen Colleen Brown graduated from the Indiana University School of Medicine in May, she was part of a class making history.
For the first time, the medical school was graduating more women physicians than men-131 and 128, respectively. Since 1970,
there has been a 10-fold increase in the number of women physicians, according to a February 2006 study by the American Medical
Association. In 1970, only 25,404 women graduated in the United States in all medical specialties. By 2004, the...
MoreLocal firm snags major deal from Wall Street: City Securities leads $390 million airport bond issue
June 12, 2006
Peter SchnitzlerIndianapolis-based City Securities Corp. is leading a $390 million bond issue for the Indianapolis International Airport expansion.
To snag the deal, it overcame a host of far larger competitors on Wall Street. To paraphrase Mark Twain, reports of the death
of local investment banking are greatly exaggerated. It's the second-largest bond deal in City Securities' 82-year history,
surpassed only by the city's 2002 purchase of Indianapolis Water Co. for $580 million. City Securities also led the water
deal. "We've done...
More"No habla ingles": Immigrants who want to advance find many programs to help them learn English
June 5, 2006
Chris O\'malleyNo habla inglesImmigrants who want to advance find many programs to help them learn English Osvaldo Escobedo was hungry to
learn English. It was bad enough when he couldn't advance at the Nissan Motor Co. plant in Aguascalientes, in central Mexico,
because he couldn't converse in the business language of English. Later, when he came to the United States, he couldn't eat
much more than what he could pronounce. "When I go to restaurant, I ask [for] 'coffee and doughnuts....
MoreGood banking relationship can help business:
May 29, 2006
Ken CarowCapital is the lifeblood of any business. But fresh infusions of money are particularly important for startup and small businesses,
since they often can't fund new equipment, employees or facilities out of their cash reserves or profits. The top three sources
of new capital for small business are owner's equity (33 percent) bank loans (20 percent) and trade credit (15 percent). Let's
focus on bank loans and simple ways that small-business owners can improve their chances of getting a loan...
MoreBOOK REVIEWS: "Best Face Forward: Why Companies Must Improve Their Service Interfaces with Customers"
May 22, 2006
Jeffrey F.Customers got their first inkling 25 years ago when ATM machines were introduced. Another hint came along 10 years later when
voice mail arrived. The trickle of computerized customer-service inter actions became a flood as we started using devices
like parking-garage ticket machines, airline ticket kiosks, telephone voice trees and self-service checkouts for groceries
and library books. Internet transactions such as online shopping, banking and purchasing movie tickets also entered the scene.
Interacting with these "smart technologies," which seemed odd...
MoreMira banquet honors excellence in Hoosier high tech: TechPoint awards often precede market success
May 22, 2006
Peter SchnitzlerTechPoint's Mira Awards, which were to be handed out May 19, celebrate excellence in Hoosier innovation. The annual awards
banquet also serves as a pretty good bellwether of who's poised for a big payday. For example, TechPoint honored Indianapolis-based
medical device-maker Suros Surgical Systems Inc. with a Mira award three years before Massachusettsbased Hologic Inc. acquired
Suros for $240 million in April. In 2003, TechPoint also recognized Carmel-based banking software-maker Baker-Hill. California-based
Experian bought Baker-Hill last August for an undisclosed...
MoreSuit puts One Call on hold: Firm placed in receivership as lender seeks $21 million
May 22, 2006
Chris O\'malleyOne Call Communications has been placed in receivership, a day after a lender for its 2002 management buyout filed a lawsuit
alleging the Carmel long-distance and operator-services company owes it more than $21 million. The May 11 lawsuit in U.S.
District Court in Indianapolis by Pittsburgh-based PNC Bank appears to be the knockout blow for a telecommunications firm
accused by several states of violating consumer protection laws in billing and collection practices. Also looming is a proposed
$1.1 million fine...
MorePROFILE: Complexions Day Spa: Downtown day spa has glowing business Irvington native focuses on organic products, attracts
clients from entertainment, sports scenes
May 15, 2006
Jo EllenComplexions Day Spa Downtown day spa has glowing business Irvington native focuses on organic products, attracts clients from
entertainment, sports scenes Trinia Cox's venture builds on a 10-year career in skin care and makeup artistry with stints
in Chicago and Los Angeles. And the location of Complexions Day Spa on Massachusetts Avenue was a good fit with her background
in the arts, including gigs as a singer with Dr. Bop and the Headliners and her own group, Trinia and the...
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Many serial killer types and psychopaths work as lowly bureaucrats, just waiting to impose their wrath on a powerless person, child, or pet. Don't forget, the BTK killer was a dog catcher.
If a television station wants to improve viewership, get rid of the local blackout. I was born by the brickyard, and have attended 15 or more races. I have children now, I won't attend unless circumstances are perfect. As those with growing families know, they never are. I'm always impressed that upwards of 250,000 people attend the 500. However, as a growing, or, more apt, sprawling city, Indianapolis and its immediate suburbs count almost 2.2 million. Show the race live, let the venue get a kick-back on revenues, and open-wheel racing might have a fighting chance to be relevant again. Just in time for those tax-payer lights to make sense.
John Moore, I too have had the same issue recently. A property next to my house was on the Land Bank and I was interested in purchasing. When I tried to contact Reggie, I got back emails that had nothing to do with what I asked about. Actually my latest response from him was on this past Friday. I had asked about how to buy the property and if it was still available. His response to me was to contact the mayor's office to get the schedule of his appearances. (???) Hopefully the city is able to do something to fix what this guy has done, it would be nice if they would take the properties back and sell them properly so land owners like me and you mother would have a fair chance.
I too work in the industry, with over 25 years of experience and your political spin has probably nothing to do with any rebranding. "Let's dress it up" would have nothing to do with the government "telling us how and what to eat." Give it a political rest. And being a producer for a radio show doesn't mean you've been involved in advertising and branding for 30 years.
Ms. Morris did not understand the ways of the business world, otherwise, like the IMS, she could have petitioned the State Legislature for a handout of State Funds for her charity work. Ms. Morris should consider becoming a state lobbyist for Lemonade Stand Operators.