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Insurance
Precedent 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....
MoreCommunity banks struggle with regulatory demands: Sarbanes-Oxley, Banking Security Act prove costly
June 13, 2005
Peter SchnitzlerWho can blame small community banks for feeling boxed in? "The world has changed," said Jerry Engle, president and CEO of
Greenwoodbased First Bank. "I guess we'll have to get used to it." Far and away, it's the increasing cost of regulatory compliance
that keeps community bankers tossing and turning at night. In recent months, the Independent Community Bankers of America,
a small-bank advocacy group based in Washington, D.C., has stepped up its ongoing campaign against additional regulation by
asking...
MoreState malpractice safety net nears big rate hike: IRMIA to start double-digit increases July 1
June 13, 2005
Tom MurphyMany health care providers who use Indiana's safety-net malpractice insurance will find it less comfortable after a 36-percent
rate increase kicks in July 1. Poor investment returns and increased enrollment, among other factors, have teamed up to force
the Indiana Residual Malpractice Insurance Authority into one of its largest premium rate increases in years, according to
Cindy Donovan, deputy commissioner of financial services operations for the Indiana Department of Insurance. Providers and
insurers say the rate hike may push some...
MoreDeparture could cost Standard millions: Former top executive seeks severance package worth about $3.8 mllion
June 13, 2005
Tom MurphyStandard Management Corp. may have to add more than $10 million to the cost of completing its shift to health care services
from financial services if a former top executive prevails with his severance claim. P.B. "Pete" Pheffer, the holding company's
former president and chief financial officer, became the latest top executive to leave Standard Management with a severance
dispute when he resigned May 31. He claims his contract calls for a severance package worth roughly $3.8 million. On top...
MoreInterns follow unique paths: Some internships offer more freedom, creativity
June 6, 2005
Scott OlsonInternships can offer valuable learning experiences for college students looking to land the ideal job following graduation.
But few provide an opportunity quite like the one extended by the Indianapolis Cultural Development Commission in its quest
to market the city as a cultural destination. By summer's end, three undergrads will have traipsed the Hoosier state visiting
fairs and festivals in a van decorated with the large, red arrow becoming synonymous with the promotional campaign. Whether
their itinerary includes stops at...
MoreA 'little' oil boom: More drilling expected in state as prices stay near record
June 6, 2005
Chris O\'malley"There is increased drilling. There's a lot of broke-ass oil producers down here that are experiencing a little boom," said
Andrews, president of Vincennes-based Andrews Oil Properties. Oil producers like Andrews, "still driving the same Cadillac
I had 15 years ago," know bet- ter than to entertain fantasies of striking it rich, however. Indiana oil production has been
on the wane since a 12.6-million-barrel peak in 1956. Last year, only 1.75 million barrels were extracted from Indiana's sedimentary
rock, according...
MoreGovernment intervention: cure is as bad as disease ECONOMIC ANALYSIS: Government intervention: cure is as bad as disease
June 6, 2005
Patrick BarkeyECONOMIC ANALYSIS Government intervention: cure is as bad as disease As you get older, you come to appreciate the old adage
about doctors: They don't actually cure you, but they do sometimes let you trade in one ailment for another. That could be
said equally for almost every situation where governments intervene in the privatesector economy. The solution to a problem
inevitably creates a new problem. And in some cases, the cure is worse-and longer-lived-than the disease. We have come...
MoreHSAs picking up steam: Enrollment tops 1 million; biz tax breaks proposed
May 30, 2005
Scott OlsonEarlier this year, employees of Indianapolis-based N.K. Hurst Co. became part of the growing fraternity of workers in the
United States who are eligible for health savings accounts as part of their benefits package. As of March, the membership
in HSAs numbered more than 1 million people, twice as many as the estimated 438,000 in September, according to a study by
America's Health Insurance Plans. The Washington, D.C.-based trade association for insurers said enrollment numbers are growing
because more companies...
MoreVOICES FROM THE INDUSTRY: What you can do if you're concerned about your pension
May 30, 2005
Paul CoanWill your company's traditional pension plan be there when you retire, and what can you do now to prepare for the possibility
that it might not be there? The last few years have seen the implosion of several major corporate pension plans, particularly
in the airline and steel industries. Hundreds of other companies have reported to the federal government that if their pension
plan ended today, they wouldn't have enough money to pay their future obligations. But there are steps...
MoreBusy session for insurance forces: Compact passage highlights plethora of industry-related legislation considered by the General
Assembly
May 30, 2005
Tom MurphyState lawmakers also killed a bill that offers "mandate lite" health coverage and kept the topic of vicious dogs at bay during
the 2005 legislative session. Insurance lobbyists and regulators say they just wrapped up one of the busiest sessions in recent
memory. Topics ran a wide gamut and crowded committee calendars. Last year, five industry-supported bills made it through
the General Assembly, according to Dan Tollefson, corporate counsel for the state Department of Insurance. This year, 15 did,
and...
MoreCHRIS KATTERJOHN Commentary: Here's the skinny on 70 mph
May 30, 2005
Remember back in 1973, at the height of the Arab oil embargo, when President Nixon mandated a 55-mileper-hour speed limit
on the nation's interstates? That nearly drove me crazy. Like many Americans, I made a habit of fudging on the existing 70
mph limit. I cruised the highways at around 80 mph, making excellent time to all my destinations. Fifty-five put a major crimp
in my style. We had a chance to go back to 70 mph when President Clinton...
MoreA business-friendly approach: New insurance boss hopes to speed approval process, attract firms to state
May 30, 2005
Scott OlsonJim Atterholt may not have been the governor's top choice to lead the Indiana Department of Insurance. But the former state
representative who has dedicated his career to public service is no consolation pick, either. Those who know the 43-year-old
Atterholt say his calm demeanor and his sharp people skills should serve him well in his new role as an administrator. He
took the helm as commissioner Feb. 22, about a month after Harold Calloway declined the appointment. Atterholt since...
MoreCompetition stakes claim on hospital's turf: Dialysis center would sit 1 block south of Methodist
May 23, 2005
Tom MurphyA real estate company has filed plans to build a medical office building and dialysis center downtown, in the shadow of Methodist
Hospital and Clarian Health Partners. A and T Realty wants to plop a 13,416-square-foot office on what now is a parking lot
a block south of Methodist, according to plans filed with the city. The development has no connection to Clarian, according
to Mike Quinn, a lawyer representing A and T. Clarian, whose three downtown hospitals all offer...
MoreBEHIND THE NEWS: Big investors turn up heat on tiny Century Realty
May 23, 2005
Greg AndrewsBig money from the coasts has been pouring into one of the nation's most obscure publicly traded real estate companies-India
n a p o l i s - b a s e d apartment owner Century Realty Trust-helping to propel the sleepy stock more than 50 percent higher
over the past year. Here's a sure bet: The investors didn't become interested because they're suddenly enamored with 74-year-old
Chairman Jack Bradshaw's slow-and-steady management approach. Quite the opposite, says one of the...
MoreMansion tenant's HQ networks with history: Levey building's interior design mixes new with the old
May 23, 2005
Tammy LieberAt the Louis Levey Mansion on North Meridian Street, the blending of past, present and future greets visitors as they walk
through the heavy arched doors of Networks Financial Institute's headquarters. In the entry hallway, a receptionist with all
the latest technology on her desk sits under a Victorian-era stained-glass skylight. Around her, contemporary art hangs next
to elaborately carved wood molding on the walls. Futuristic glass-and-chrome lighting fixtures hang from the ceilings, one
of which has an original painted...
MoreVote sets up big switch for Standard: Company awaits insurance department's approval of sale
May 23, 2005
Tom MurphyWith two key shareholder votes in his favor, Standard Management Corp. Chairman and CEO Ron Hunter made major strides last
week in remaking the Indianapolis holding company. Common-stock shareholders overwhelmingly approved the sale of Standard
Life Insurance Co. and Dixie National Life Insurance Co. to Louisville-based Capital Assurance Corp. May 18. Later that day,
the company announced most of the holders of its trust-preferred securities agreed to a plan that preserves more than $20
million in cash for Standard in...
MoreHeartland Golf Cars and Equipment Co.: Golf cars have become hot commodity Local firm has ridden the trend to profitability
ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business,
he
May 23, 2005
Jo Ellenram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business,
he advises, "Don't go into it on a shoestring. You have to have a business plan and be committed to working long hours. It's
not only working harder, it's the workmanship, too. It may sound like an old cliché, but it's very true." * Golf cars are
no longer just for sport. These electric- or gasoline-powered cars may...
MoreElite execs raking it in: As pay swells, critics urge restraint
May 9, 2005
Tom MurphySpecial Report: Elite execs raking it in As pay swells, critics urge restraint Highest-paid Indiana public company executives
in fiscal '04. Includes salary, bonus and other annual compensation, as well as long-term pay and stock option grants. 1)
includes $1.7 million signing bonus received upon becoming CEO and president in August 2004 Turns out life's certainties stretch
way beyond the cliché about death and taxes, especially in corporate Indiana. If you're a top executive at one of Indiana's
biggest public...
MoreStutz's future includes condos: Developer envisions high-rise, nightclub as part of biz center
May 9, 2005
Tammy LieberStutz Business Center owner and visionary Turner Woodard last month rolled out a 10-year master plan for the Stutz that could
bring condominiums, retail and a high-rise tower to the former auto-manufacturing plant at 10th Street and Capitol Avenue.
Right now, Woodard concedes many of his plans are dreams. But with a blossoming life sciences corridor just to the west along
the Central Canal, Woodard said he wants the 80-year-old Stutz to continue to be a hub of activity as...
MoreCleanliness is being undervalued EYE ON THE PIE Morton Marcus:
May 9, 2005
This column has been too glum recently. That is the result of observing what happens in the General Assembly where the many
good things done (for example: a stiffer open alcohol container bill) are outweighed by the silliness (daylight-saving time).
Let's take a rest and praise some people who are doing something noble and important. A coalition of clergy, civic groups
and labor unions are trying to get higher wages and benefits for janitors in the Indianapolis area. Currently, most...
MoreNew CEO's 'crash diet' tones up ailing bank: After cutting its expenses, Old National plans to grow in central Indiana markets
May 2, 2005
Peter SchnitzlerNow it's time for Old National to block and tackle. "Bob Jones has set forth a plan that makes good, sound fundamental sense.
Now it becomes about execution," said Joe Stieven, equity analyst with St. Louis-based Stifel Nicolaus & Co. Inc. "Execution
in banking is actually no different than in football. Your line has to do a lot of the work, and a lot of that work appears
mundane and boring." Formerly the CEO of Cleveland-based KeyCorp's McDonald Investments Inc.,...
MoreAn unemployment riddle defies logical explanation ECONOMIC ANALYSIS Patrick Barkey:
May 2, 2005
You may not believe it, but the data tell us it is true. Indiana is leading the Midwest in job growth. In fact, through the
last 14 months, the state's employers have kept up with the national economy in net job creation, while Illinois, Ohio, and
Michigan have seen their job totals remain stubbornly stagnant. But just as we are getting out the party hats to celebrate,
along comes news of an entirely different tone on unemployment rates. The process...
MoreSales, new spec space in the cards at Intech: Intech One and Two likely to fetch top dollar, draw national interest, investment
broker says
May 2, 2005
Tammy LieberTwo years ago, Lauth Property Group Inc.'s Intech Park was arguably the most prominent sign of central Indiana's soft office
market. The northwest-side park's largest buildings, Intech One and Two, had entire floors vacant and awaiting completion.
Acterna LLC was pulling out of its 140,000-square-foot building, a retreat symbolic of the technology bust's effect on the
larger suburban office market. Today, helped by a robust investment market and Intech's recent state designation as a certified
technology park, Lauth hopes the...
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!