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Insurance
Bank's price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity
April 17, 2006
Greg AndrewsNo wonder word leaked early this year that Union Federal Bank was about to be sold. A new federal filing reveals that a deal
had been brewing since early last year-spawned largely by mounting frustration among investors that they were unable to turn
their stake in the bank's privately held parent, Fort Wayne-based Waterfield Mortgage Co., into cash. "The concerns over liquidity
were voiced by many shareholders at Waterfield Mortgage's annual shareholders' meeting in the spring of 2004," according to...
MoreLocal facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders
April 10, 2006
Scott OlsonA spacious home near Stony Creek in Noblesville once known as the Hare estate has been transformed into an intensive treatment
facility for young women struggling with severe eating disorders. Dubbed Lotus House, the three-story residence began hosting
patients in October. Partners Patrick Hall, 40, and Misty Rees, 33, founded the facility to provide an inpatient alternative
to standard care. The facility, which offers therapies for anorexia nervosa and bulimia, is just the second in the Indianapolis
area to treat...
MoreSteep loss forecast for Standard Management: Company still anticipates closing deals for more financing as SEC annual report
deadline looms
April 10, 2006
Tom MurphyStandard Management Corp. is projecting a 2005 loss topping $20 million, and its stock has fallen below a minimum share price
required by the NASDAQ exchange. The Indianapolis pharmaceutical-services firm also missed a deadline to file its annual report,
as a push to arrange more financing "has consumed a substantial portion of management's time and limited resources," according
to a March 31 filing with the U.S. Securities and Exchange Commission. Company leaders expect a $20.3 million loss from continuing
operations....
MoreRepairs to tower may take months: Tenants scramble for other arrangements
April 10, 2006
Peter SchnitzlerIt was a symbol of his success. For the last three years, environmental attorney Robert Clark has relished the view from his
corner office in One Indiana Square, high above the streets of Indianapolis. But on Sunday, April 2, tornadoforce winds left
it in tatters. His family photos are gone. Likewise his case files and the many gifts he'd received over the years from friends
or clients. "I understand there are no exterior walls," he said. "My desk is still...
MoreShared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities
April 10, 2006
Tracy DonhardtNew guidelines due out in June will call for newly constructed hospitals to come equipped with all private patient rooms,
the first time such a minimum requirement has been issued. The guidelines, published every four years by the Facilities Guidelines
Institute and the American Institute of Architects' Academy of Health, are used by nearly 40 state governments-including Indiana-to
set regulations, approve construction plans and license hospitals to operate. And hospitals nationwide-including those in
Indiana-are expected to embrace the guidelines that...
MoreExperts: Businesses should prep for bird flu: Vast majority of U.S. companies have not budgeted for possible pandemic, despite
warnings from health officials
April 10, 2006
Scott OlsonThe much-hyped Y2K computer bug came and went without so much as a whimper from a whirring hard drive. But unlike the threat
of malfunctioning computers, health experts warn that the potential danger of an avian flu pandemic is far greater. In the
event of a widespread outbreak in the United States, companies large and small need to be prepared in order to keep interruptions
to a minimum, they say. "I am an evangelist for having a contingency plan," said...
MoreBRIAN WILLIAMS Commentary: Legislators should address insurance costs
April 10, 2006
Members of the Indiana General Assembly resolved some contentious issues in 2006, including property tax relief, telecommunications
reform and the long-term leasing of public infrastructure. U n f o r t u n a t e l y, they did not have an opportunity to
debate Senate Bill 124, which, if measured on the basis of the value per page, would have exceeded the much-heralded "Major
Moves" transportation initiative. Introduced by Sen. Beverly Gard, a Greenfield Republican who has been...
MoreIMG faces licensing woes in Sunshine State: Florida regulator denies application over policy sales; Indianapolis firm blames
paperwork snafu
April 3, 2006
Tom MurphyIndianapolis-based International Medical Group Inc. has incurred the wrath of Florida regulators who accuse it of trying to
sell policies in their state without a license. However, an IMG representative says the allegations stem from paperwork problems
and the lobbying of a disgruntled excustomer turned "cyber stalker." Founded in 1990 with four employees, IMG now employs
220 in offices in Indianapolis and Great Britain. The company administers insurance policies for U.S. citizens living or traveling
overseas. It also provides coverage...
MoreFor the Dogs Inc.: Day care center goes to the dogs After years of wishful thinking, owners let themselves off the leash
April 3, 2006
Jo EllenAfter years of wishful thinking, owners let themselves off the leash Barking is music to the ears of Kristel Baker and Harvey
Markley. On any given day, dozens of canines are howling away at For The Dogs, their 3-year-old doggy day care center. And
they're set for growth, with plans to open a second location sometime in the next year. Baker, 40, got the idea for 24-hour
canine care after viewing a segment on TV's "Good Morning, America" about a...
MoreVIEWPOINT: 'Eating our young' as a way of mentoring?
March 27, 2006
Tim MulherinI recently came across an insightful publication by the Center for the Development of Peace and Well-Being at the University
of California, Berkley, called Greater Good. One article especially caught my attention: "Inspiring Good Work" (spring-summer
2005 issue) by researchers Wendy Fischman and Howard Garner, of Harvard University's GoodWork Project. As highlighted in the
article, the GoodWork Project's research, under way for the past decade, has revealed that young people leaving college and
embarking on their professional careers are finding...
MoreECONOMIC ANALYSIS: A revolution in health care: Consumers will call shots
March 27, 2006
Patrick BarkeyI once had a doctor who shared with me a little joke about medicine. It comes to mind every year as I get older and more susceptible
to life's ailments. Doctors, he said, don't really cure anything. They just let you trade in one malady for another. I know
he was talking about the side effects of medicines and treatments we take for our weak hearts and faltering knees. But I keep
thinking it applies equally to the situation of...
MoreHMOs report steady profits, falling membership: Indiana insurers performed well overall in 2005
March 27, 2006
Tom MurphyMost of Indiana's largest HMOs managed to turn profits in 2005, even as other kinds of health insurance gained market share,
sucking away 6 percent to 15 percent of their customers. Technology improvements and more efficient operations helped counter
those losses, health maintenance organization executives said. However, annual reports filed with the state Department of
Insurance show that profit for some of these managed care options slipped compared to 2004. Industry insiders say many companies
are reluctant to offer HMOs...
MoreEYE ON THE PIE: Legislature wastes another session
March 27, 2006
Morton MarcusThe 150 men and women who make up the Indiana General Assembly have finished their annual freak show, folded their tents,
and departed from Indianapolis. In their wake, they left some truly terrible legislation and another record of neglect for
the interests of Indiana's too-long-suffering population. What was wrong with this session of the General Assembly? Your local
editor will not grant me the space to be either sufficiently complete or detailed. Let's start with the governor's Major Moves
program....
MoreNOTIONS: A kid, a shave, a health care dilemma
March 27, 2006
Bruce HetrickFor the second time in his young life, 9-year-old Joey Chamness had his head shaved last week. This time, the skinhead look
is voluntary. Last time, it was chemotherapy. On a Thursday afternoon in January 2005, Joey was playing soccer when he felt
pain in his left leg. He'd experienced this before, but not this bad. So Joey's parents called the family pediatrician to
schedule an appointment. The following Monday, the doctor took a look and said it was probably...
MoreHealth care developers eye their next frontier: Northeast Hamilton County offers a lucrative market
March 27, 2006
Tom MurphyChris Hamm's phone started buzzing with calls from health care developers once plans for an extension of 146th Street east
to Interstate 69 crystallized a couple years ago. The Noblesville economic development director said several organizations
have shown "significant interest" in planting health care businesses along 146th Street, which will see a big boost in traffic
once workers complete the interstate connection in the fall of 2007. At least three health-care-related deals are in the works,
he added, declining to...
MoreAd firm's new HQ shows imagination: Former school gets makeover for Young & Laramore
March 27, 2006
Tammy LieberThe Indianapolis-based advertising firm's former building, at 409 Massachusetts Ave., featured an interior atrium, open work
spaces and a large fish sculpture in the window that caught the eye of passersby on the busy commercial corridor. For its
new building, a former school tucked into Lockerbie Square a few blocks away, the firm had to decide how to creatively use
a choppedup floor plan, complete with a gymnasium in the middle. Young & Laramore enlisted Eric Rowland and Sarah Schwarzkopf...
MoreEYE ON THE PIE: Waiter shines light on education
March 20, 2006
Morton MarcusI spent most of a recent weekend in the hospital, but no one seems to want to hear that story. It wasn't much of a story,
as it turns out, but the bill, which will fall on you, will be enormous. My part of the bill will be small because I am covered
by Medicare and private health insurance. This means you will see my use of the health care system reflected in your future
taxes and in your future...
MoreWellPoint freezes pensions: Insurer joins national trend, shifts focus to 401(k) plan
March 20, 2006
Tom MurphyWellPoint Inc. quietly froze pension contributions for most of its 42,000 employees earlier this year, a move that draws criticism
but falls in step with what many other big employers are doing. The Indianapolis-based health insurance giant noted deep in
an annual report filed late last month that on Jan. 1 it stopped adding pay credits to the pension accounts of employees not
nearing retirement. The insurer rang up a $2.5 billion profit last year and, unlike some other companies...
MoreShort session long on action: Led by Major Moves, telecom successes, biz interests fared well in 2006 General Assembly
March 20, 2006
In less than three months, the Indiana General Assembly approved a pair of blockbuster economic-development measures designed
to dramatically upgrade the state's infrastructure. With the passage of Gov. Mitch Daniels' Major Moves initiative, Indiana
will lease the Indiana Toll Road to an Australian-Spanish consortium for 75 years. It will use the upfront, $3.9 billion payment
to build roads. Meanwhile, the approval of telecom deregulation sets the stage for more local phone, cable and Internet competition.
Daniels, a Republican, argued that...
MoreECONOMIC ANALYSIS: Revised data shows state faring better than thought
March 20, 2006
Patrick BarkeyIf you were watching this space to see what-if any-silver lining for Indiana could be found in the harsh blows about to fall
on the high pay, full benefit, Big Three automaker production jobs I promised to talk about last week, I ask your forbearance.
The Toyota Corp. has beaten me to the punch. The company's announcement that it plans to build its top-selling Camry in Lafayette
says it better than any words I could come up with. The future...
MoreBill boosts hope for bariatric patients: Measure would make it easier for morbidly obese to receive surgery
March 13, 2006
Tom MurphyBariatric surgeons hope a bill being considered in the legislature eliminates lifethreatening waits like Shaul's and improves
access to a surgical specialty that has seen expansive growth in central Indiana over the past few years. The measure, now
in conference committee, is expected to win final approval in the waning days of this year's session. Senate Bill 266 would
trim the minimum wait insurers can impose before they cover the surgery from 18 consecutive months to six. It also adds...
MoreBULLS & BEARS: Buffett's skeptical eyes see plenty to fret about
March 13, 2006
Ken SkarbeckWarren Buffett's annual letter to Berkshire Hathaway shareholders was posted on the company's Web site early this month. He
has a way of distilling complex issues into simple messages using witty anecdotes. Here is my Cliffs Notes version, but first
a note of caution: One thing you don't get from Buffett is the world viewed through rose-colored glasses. Derivatives. Buffett
resolved that when Berkshire acquired General Re, the large reinsurance company in 2001, he would unwind the company's derivative
contracts....
MoreNOTIONS Bruce Hetrick: Yes, Mama, it's OK to let your baby study liberal arts
March 13, 2006
Bruce Hetrick is on vacation this week. In his absence,this column,which appeared on March 17, 2003, is being reprinted. Last
summer, an Indiana University English professor sent me an e-mail. It said that she and her colleagues were creating a new
course called "Careers in English." Its premise: One might do something with an English degree besides teach English. As they
planned their curriculum, the instructors searched for an appropriate textbook. When they couldn't find one, they decided
to create...
MoreHow Family Friendly is: Duke Realty Corp.: Locally based, publicly traded, commercial real estate firm
March 13, 2006
Duke Realty Corp. Locally based, publicly traded, commercial real estate firm Flexible work arrangements Duke managers support
flexible work arrangements whenever possible. Some associates work flexible hours, compressed workweeks, part-time schedules
or take advantage of part-time telecommuting. Child care Dependent Care Flexible Spending Accounts are offered and allow associates
to set aside money on a before-tax basis through payroll deductions to cover daycare expenses. Family leave/military leave
Eligible associates may take FMLA leave up to 12 weeks. Employees can also...
MoreFederal deposit insurance reform beefs up coverage: Retirement savings accounts stand to benefit most
March 13, 2006
Scott OlsonFederal deposit insurance reforms signed into law by President Bush last month boost coverage of some retirement accounts
and will raise coverage for other bank accounts beginning in 2010. The legislation, debated by lawmakers for the past six
years, is significant because it offers the first increase in deposit insurance coverage in more than 25 years, and just the
seventh rise since 1935. Federal deposit insurance currently covers as much as $100,000 per depositor. Starting no later than
November, depositors...
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Who makes Tater Tots? They would be a good sponsor, because $3 Million for the alleged "Greatest Spectacle In Racing" is taters. Tiny, tiny taters. But at least they are making up something of the losses accumulated over the years in this dying sport. Buttock in seat is certainly not doing it, nor eyeball on TV, as evidenced by the lack of both.
We loved lakehouse and think the Arbor Village would be a great location. It is less than 2 miles from over 1000 rooftops in the 225,000 to over 1 million range. Many people could use the great fishers trail system to bike or walk there. Just an idea Scotty -- but maybe something closer to 3 Wiseman would good. The only microbrew in area is Ram (boring)
True, it's an ESPN production, but ESPN is just another name for ABC Sports, or what used to be ABC Sports since ABC Sports no longer exists as a name. ESPN=ABC Sports= ESPN. ESPN is, according to Forbes "the world's most valuable media property" worth $40 billion. Despite that, they fired 400 people this week.
The Prestige was a great flick.
Larry - even though the race is on ABC, ESPN does all of the work, so that is why ESPN is mentioned. Most sports on ABC are called something like "ESPN on ABC."