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Insurance
Industry making push for creation of state fraud unit: Indiana one of only 10 states without insurance fraud agency, but funding
issues could be major obstacle
August 8, 2005
Scott OlsonMembers of the insurance industry have begun a campaign to bolster the state's fight against fraud by targeting the creation
of a bureau to help combat the crime. Indiana is one of only 10 states without an agency addressing insurance fraud, according
to the Washington, D.C.-based Coalition Against Insurance Fraud. But the goal of the task force convened by Jim Atterholt,
commissioner of the Indiana Department of Insurance, is to have a fraud bureau operating within his department sometime next...
MoreDefining success: Those who've tasted it share their thoughts on just exactly what 'it' is
August 8, 2005
How do you define career success? We posed that question to a variety of high-profile women and men in the Indianapolis business
community. While the responses did confirm some of our preconceived notions-such as that men would mention financial rewards
more often than women-there are far more similarities than differences, regardless of gender or profession. Still, "Career
success is defined differently by each individual," as Alex Slabosky, president and CEO of The Healthcare Group, so wisely
put it; and as...
MoreDose of OPPORTUNITY: Wellpoint, other health care insurers forge strategies to grab their share of Medicare drug-plan business
August 8, 2005
Tom MurphyAfresh market that could be worth billions of dollars lies just over the horizon for health insurers like Indianapolis-based
WellPoint Inc. Medicare, the U.S. government program for the elderly and disabled, will add a prescription drug benefit starting
Jan. 1, and it could spend as much as $60 billion next year on medicines for 30 million people, according to Bloomberg News.
But before insurers can start cashing in on this potential, they must develop their drug plans, win over some...
MoreSPORTS: Lance Armstrong miracle started here...or did it?
August 1, 2005
Bill BennerIt is 10 a.m. on July 24 and, from several thousand miles and an ocean away, it is being reported that Lance Armstrong has,
indeed, won his seventh consecutive-and last-Tour de France. I pick up the telephone and dial Dr. Lawrence Einhorn at his
home here in Indianapolis. "What a way to go out," says the doctor, the pleasure obvious in his voice. "And it still gives
me goose bumps." What a championship pairing: Lance Armstrong, cancer survivor. Lawrence Einhorn,...
MoreBaby doctors ready to bolt: Clarian North's new north-side med center to lure business from St. Vincent, Community
August 1, 2005
Tom MurphyStorm clouds are gathering to the north as St. Vincent Health applies the last coat of polish to its $19 million Women's Hospital
renovation. The Indianapolis hospital will lose an obstetrician-gynecology group that delivers as many as 1,440 babies a year
shortly after it completes its expansion in September. The 10 doctors of Women's Health Alliance plan to move offices and
shift 80 percent of their practice to a new competitor, Clarian North Medical Center, a $285 million project scheduled...
MoreCounties, cities welcome food/beverage tax: Suburbs see extra funds as way to balance budgets
August 1, 2005
Scott OlsonSeveral suburban cities and counties that have approved new food and beverage taxes view the windfall as a panacea for their
budget woes. Six of the seven counties surrounding Marion County, excluding Morgan, have OK'd the 1-percent surcharge to help
fund a new stadium for the Indianapolis Colts and Indiana Convention Center expansion. Morgan County councilors turned down
the measure at a June meeting. The legislation, approved during the past session, directs counties to contribute half the
food and beverage...
MoreManufacturers struggle with China's risk, opportunity: Currency valuation one of many competitive issues
August 1, 2005
Peter SchnitzlerEighteen months ago, 110 people worked for Swiss Plywood Co., a Tell City-based cabinet-maker in business since 1945. The
average tenure was 17 years. Today, only 65 employees are left at the controls of Swiss Plywood's machines. Chairman Bill
Borders blames China. "We've weathered storms over the years," Borders said. "But nothing approaching this." Manufacturers
in Indiana and across the nation have long complained about what they call Chinese currency manipulation. It's one of a litany
of grumbles about Chinese...
MoreEYE ON THE PIE: Brothers set example for today's execs
July 25, 2005
Morton MarcusMost of us know the fabled heroes of Bean Town. They include the Adams cousins (John and Sam). Paul Revere. The Kennedy brothers
(John, Robert and Edward). Ted Williams, Carl Yazstremski, Bobby Orr, Bob Cousey, Bill Russell, Larry Bird and Tom Brady.
Yet Boston's most significant business heroes are not well-known today, at a time when their example could be most useful.
Two brothers, Edward and Lincoln Filene, inherited their father's department store in 1890. They spent the rest of...
MoreInsurers look to make uncommon comeback: Pafco, Superior hope to leave rehabilitation this year
July 25, 2005
Tom MurphyOnly the hum of central air-conditioning broke the silence when Doug Symons recently led a quick tour of the Indianapolis
office where his Superior Insurance Group once employed about 180 people. Rows of gray cubicles sat empty. Boxes filled with
old claims and underwriting files lined the aisles. "This," Symons said as he waved his arms around, "is what an empty office
looks like waiting to be filled." Those bare cubicles could fill up with dozens of new employees and...
MoreAuto auction board hikes own pay: Adesa Inc. also sent executive packing with full-sized severance
July 18, 2005
Chris O\'malleyVehicle auction giant Adesa Inc., which already pays one of the richest sums to its directors of any local company, has jacked
up its annual board retainer 50 percent. Meanwhile, the Carmel-based company also has disclosed details of a severance package
it paid to Executive Vice President James P. Hallett worth more than $1.3 million, not including the value of his stock options.
Both events were disclosed in documents filed recently with the Securities and Exchange Commission. The eight-person board...
MoreFirm plans to get personal with clients' home pages: Former gubernatorial candidate runs Web business
July 18, 2005
Scott OlsonDeveloping an Internet home page that gives users more options for content than what behemoths such as America Online and
Yahoo! offer through their syndicated selections has become the ambition of George Witwer. The 46-year-old Bluffton native,
who once aspired to be Indiana governor, launched the northwest-side Humanizing Technologies in January 2000. With much of
the product's research and development in the can, the venture is close to weaning itself from investors and, for the first
time, could turn a...
MoreCourt files grow thick against Guidant: Shareholders, patients, employees air their grievances
July 18, 2005
Tom Murphy"Attention, patients with Guidant heart defibrillators," the announcer's voice booms as the television commercial begins.
Nearly 50,000 of the devices were recalled June 17, and people using one may be at risk, according to the ad, which has run
in Tennessee, Kentucky and central Indiana so far. It ends by urging viewers to call the Becker Law Office in Louisville for
a free consultation. That ad could spawn at least 10 wrongful-death lawsuits, according to Gregory Bubalo, a Louisville-based
lawyer...
MoreDegree combines medicine, business: IU grads put in 5 years to earn combo MD/MBA
July 11, 2005
Katie MaurerTell people you have your MD and they'll likely be impressed. Tell them you also have an MBA-well, now you're just showing
off. For four recent Indiana University graduates, however, impressing others had nothing to do with their decision to pursue
simultaneous medical and business degrees. It's all about making their way in the increasingly complicated field of health
care, where being a good doctor is about more than having the highest grades in medical school. The four students received...
MoreEmployers promoting fitness: To battle steep insurance costs, businesses help employees get healthier
July 11, 2005
Julie GoldsmithWearing a pedometer, Kelly Dircksen treads 2,000 or so steps a day at the office, racking up her highest counts in her treks
to the photocopier. Her 2-1/2-mile daily goal entails after-work walks, as well. The 34-year-old quoting specialist said her
company pays 50 percent of any fitness-related costs for her and her family, including a Weight Watchers program, running
shoes for her kids, and the entry fee for her son's marathon. "I'm definitely healthier," said Dircksen, who celebrates incremental...
MoreNew public auto-loan firm in works: White River to buy failed Union Acceptance
July 11, 2005
Greg AndrewsA new public company is rising from the ashes of Union Acceptance Corp., the failed east-side car-financing company, and is
preparing to raise $35 million through a stock offering. White River Capital Inc., which will operate from UAC's former headquarters
on North Shadeland Avenue, has agreed to buy out UAC's shareholders for $3.1 million in stock and to buy Virginiabased auto
lender Coastal Credit LLC for $50 million in cash. "It's a tough industry, a hypercompetitive industry," White River President...
MoreConseco hopes to receive crucial upgrade: Ratings firm A.M. Best Co. may make decision soon
July 4, 2005
Tom MurphyThe holiday season may arrive a few months early for Conseco Inc. if its subsidiaries receive the ratings upgrade that has
topped their wish lists since their parent emerged from bankruptcy. A.M. Best Co. plans to complete a Conseco review this
summer, and it probably will deliver the gift of good news afterward, according to some analysts who cover the Carmel-based
holding company. New Jersey-based Best currently rates the financial strength of Conseco's core subsidiaries at a B++ level,
one...
MoreNOTIONS: Will you try to transform or get stuck with status quo?
July 4, 2005
Bruce HetrickIt's 4 a.m. I'm supposed to be writing by now, knitting you a tale about transformation. But the notions have yet to coalesce.
So I lie in bed, watching through my bay window as a storm rolls through, igniting the sky with flashes of light. It's 4:27
a.m. I awaken again and flip on the TV, the sound muted so as not to disturb my son's slumber in the next room. The channel
I was watching last night now shows...
MoreYouth sports get break: New law could cut Worker's Comp premiums dramatically
June 27, 2005
Tom MurphyState lawmakers scored a goal for youth sports this spring when they approved a bill that could save some clubs thousands
of dollars in present or future insurance premiums. Starting July 1, not-for-profits that have employees and pay youth coaches
part time under an independent contractor arrangement will not have to provide Worker's Compensation benefits for those coaches.
State Sen. Murray Clark, R-Indianapolis, said he had travel teams or clubs in sports like soccer, volleyball or baseball in
mind when...
MoreCab drivers drive down complaints: Service may have improved after city toughened rules
June 27, 2005
Chris O\'malleyBut much of the evidence is anecdotal, as city officials said they do not have complete complaint records for the periods
just before and after the City-County Council imposed tougher regulations in 2002. One key problem addressed by those reforms
seems to have diminished-drivers taking passengers to the wrong address. The city received only two such complaints in the
last 1-1/2 years, according to records kept by the City Controller's Office. That had been a commonly reported problem in
the...
MoreBULLS & BEARS: Investors should run from variable annuity plan offers
June 27, 2005
Dave GilreathThere are many ways to invest your money in the stock market and no shortage of convincing salespeople preaching the best
way to do it. The "can't-beat'e m- s o - j o i n - 'e m " crowd thinks index funds are the way to go. Some think actively
managed mutual funds are best, while others go for individual stocks. All the above ways have merit, pluses and minuses, and
different levels of involvement from you, the investor....
MoreClinic predicts Hamilton County will be fertile ground: Doctors relocate reproductive practice to growing area
June 27, 2005
Scott OlsonSurgery centers and a heart hospital are among a host of health care facilities that have risen in burgeoning north-suburban
Hamilton County in recent years. Now, a new fertility clinic could contribute to the population surge by helping couples conceive
children. The 6,400-square-foot Follas Center for Reproductive Medicine opened late last month on East 146th Street in Noblesville
in a collaboration between several Indianapolis reproductive medicine innovators. The center is a partnership between Dr.
David McLaughlin, a local pioneer of...
MoreGlobal mission: destroy, conquer: New law good news for shredding firm
June 20, 2005
Anthony SchoettleIndianapolis-based Global Shred Inc. plans to use a new federal rule that forces companies to destroy more documents as a
springboard to expand into other states. The document-destruction provision of The Fair and Accurate Credit Transaction Act
of 2003 went into effect June 1, requiring all businesses to shred, burn or pulverize credit and consumer reports. While many
mom-and-pop shredding shops in the highly fragmented industry look to fortify their local position, Global Shred founder and
owner David Kantor thinks...
MorePrecedent plans spec office: Building signals improvement in north-suburban market
June 20, 2005
Tammy LieberThe Precedent Cos. is preparing to build a 100,000-square-foot office building in its namesake office park near 96th Street
and Keystone Avenue, several local real estate experts said, further evidence of the north-suburban market's recovery. The
building would mark the first new speculative office construction in the park since the mid-1990s, just before Indianapolis-based
Precedent sold the park's 19 buildings with 1.1 million square feet of office space to Philadelphia-based Berwind Property
Group Inc. in 1998. That sale didn't include...
MoreDebate over health care development takes legal twist: Three county-imposed construction moratoriums face federal lawsuits
June 20, 2005
Tom MurphyHospitals and developers recently filed lawsuits in U.S. District Court against three counties that enacted moratoriums to
slow health care construction in their territory. The Sisters of St. Francis Health Services Inc. sued Morgan County in April,
and some Kentucky-based companies filed complaints against Clark and Floyd counties June 13. County officials say they need
to make sure their county-owned hospitals remain viable in the face of more development. They also argue that providers want
to enter their turf and...
MorePhone-system expert answers entrepreneurial call: Via savvy marketing, she turned her knowledge of telecommunications into
a thriving consulting business
June 13, 2005
Susan RaccoliWhen Barb Grothe said goodbye to her paycheck and job security 19 years ago, she was just a little scared and wondered, "Now
what do I do?" She had office space for her new telecommunications consulting company, Telecom Resources, and 15 years of
experience, but no clients. So she went about making herself known: she wrote articles for magazines, newspapers and journals
(including IBJ) and scheduled speaking engagements. Almost each venture produced new clients, and Grothe was on her way....
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
Pimlico
While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!
You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.