Manufacturing & Technology

Embattled city to get lift from resurgence of Remy:Restricted Content

October 5, 2008
B e a t e n - d ow n Anderson finally has some good auto-related news: Remy International Inc., headquartered in the industrial city of 60,000, is poised to survive- perhaps even thrive-thanks to a bankruptcy reorganization plan that halves its debt, along with other moves that make it more competitive. "Frankly, I think this is a great piece of information for Anderson," Anderson Mayor Kevin Smith said of the company's trip through bankruptcy court, which is expected to...
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India deal boosts BastianRestricted Content

October 22, 2007
Anthony Schoettle
Little more than a decade ago, Bastian Material Handling had annual sales of less than $35 million. Since 2000, its revenue has doubled, to $80 million, and its business interests don't just cross the state, they circle the globe.
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EYE ON THE PIE: This may not be beginning of the endRestricted Content

October 15, 2007
Morton Marcus
"The sky is falling, the sun may not rise tomorrow, the eternal verities are in doubt." So said the Prophet standing in the public park. Lunch-hour office workers and shoppers strolled past or relaxed on benches. The speaker was seen as a nut, an unfortunate member of the homeless class, driven by drugs to disgrace and dissolute dialogue. But I knew better. This was Phil Prophet, formerly one of the leading mortgage lenders in the state, a regular Rotarian, a...
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ECONOMIC ANALYSIS: Perceptions of manufacturing don't match realityRestricted Content

October 15, 2007
Mike Hicks
There's no way to miss the dramatic loss of manufacturing employment Indiana has experienced in the past generation. Since about 1980, there has been a roughly 60-percent drop in the number of manufacturing workers in the state. Why is this so? Many Hoosiers blame globalization for these job losses (even if they support free trade). There's plenty of anecdotal evidence by way of Chinese-made toys. But once you get past this anecdote, the data tells a very different story. The...
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IU, state pushing regulators to halt sale of I-Light vendorRestricted Content

October 8, 2007
Chris O'Malley
Indiana University and the state's Office of Technology have sought an emergency order from regulators to halt a Colorado company's further assimilation of an Indianapolis fiber provider it bought Oct. 1.
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Patent dispute threatens Suros Surgical Systems: Consultant claims key role in biopsy innovationRestricted Content

October 8, 2007
Peter Schnitzler
An intellectual property tussle dating back to the origins of Suros Surgical Systems Inc. is threatening to become more than a headache for the local medicaldevice maker. Founded in 2000, Suros was one of the fastest-growing high-tech startups in Indianapolis history. Its machine for minimally invasive breast biopsies now rings up more than $43 million in annual sales. Such success attracted deep-pocketed suitors, and Suros was acquired in July 2006 for a whopping $240 million by Bedford, Mass.-based Hologic Inc....
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ECONOMIC ANALYSIS: Why the nation's union movement is in declineRestricted Content

October 8, 2007
Mike Hicks
The recent United Auto Workers strike against General Motors Corp. provides a good backdrop for considering the collapse of the union movement, and its causes. Back in the early 1970s, about one in four workers belonged to a union. Unions and union interests were powerful. Then, as now, unions came in two flavors-trade and industrial. Trade unions serve a critical role in the functioning of markets. Employers of carpenters, welders, masons, plumbers and a host of others rely upon unions...
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EYE ON THE PIE: Good news about Indiana economyRestricted Content

October 1, 2007
Morton Marcus
What do most people concerned with economic development want to see? More jobs at better pay. How can we tell if we are getting there? Simply by looking at what is happening to earnings. Earnings divided by the number of jobs equals average earnings per job. Hence, with elementary school arithmetic, we can say that earnings equals the number of jobs multiplied by the average earning per job, exactly the two indicators of economic development that most folks want to...
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VIEWPOINT: Avoiding Chinese 'fifth-shipment' folliesRestricted Content

September 24, 2007
Benjamin A.
The recent announcement by the Indianapolis company Gilchrist and Soames that it would recall its privately branded toothpaste because of concerns regarding its diethylene glycol content is a small part of a larger global concern about the quality standards of goods made in China. The same week, Mattel recalled more than 9.5 million U.S. toys over concerns about the use of lead paint. Many Indiana firms rely on a steady stream of qualified products from China, so now seems a...
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Hilbert taking on tanning nicheRestricted Content

September 24, 2007
Anthony Schoettle
Less than two years after New Sunshine LLC was bought by a group led by former Conseco Inc. CEO Stephen Hilbert, its Australian Gold division has acquired its top two competitors, amassing 80 percent of the indoor suntan lotion market.
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Relocation survey says: 'Go [Mid]west,' young executive: Companies are sending more of their employees to the region; overseas transfers are also on the increaseRestricted Content

September 17, 2007
Scott Olson
Midwestern cities are unlikely to top the list of vacationing hot spots, but they are a popular destination for relocating employees. That's the consensus from the latest Corporate Relocation Survey conducted annually by Evansville-based Atlas World Group, whose largest subsidiary is Atlas Van Lines, the second-largest interstate motor carrier in the United States. The study revealed that nearly a third of firms, 29 percent, are sending more employees to the Midwest than any other part of the country. Surprisingly, the...
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ExactTarget accurately predicts its fast growth

September 17, 2007
Tammy Lieber
ExactTarget Inc.'s 2005 announcement that it would be moving into 30,000 square feet on Monument Circle and hiring 100 people over seven years seemed ambitious. Indianapolis was littered with the ashes of once-high-flying technology startups that had flamed out. But ExactTarget is fast becoming one of the city's biggest technology success stories.
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New Image Fine Clothing Inc.: Clothier looking for the right fit After four years as a sideline, business becomes full-time jobRestricted Content

September 10, 2007
Tammy Lieber
Growing up in Detroit, Andrew T. Porter had an early education in men's fashion. The son of a minister, he recalls admiring the Sunday best of his father and members of the congregation. In his neighborhood, "there was a clothing store on every corner," Porter said. "I always had an eye for putting things together. It came naturally to me." Porter remained a student of fashion, even though he worked in manufacturing. When a friend who owned a Detroit clothing...
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Symons puts biz into Ch. 11, undercutting rival's court winRestricted Content

September 10, 2007
J.K. Wall
Alan G. Symons' company, Fast Tek Group LLC, lost a court fight with Fishers-based competitor Product Action International LLC in February. So Symons pushed Fast Tek into Chapter 11 bankruptcy protection in June--a move that clears the way for a suitor to buy the assets without being saddled with the liabilities.
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PROFILE: Electro-Spec: Aerospace niche helped business' revenue skyrocket Decades later, Franklin electroplating firm working to diversify its customer baseRestricted Content

September 3, 2007
Ed Callahan
Electro-Spec Aerospace niche helped business' revenue skyrocket Decades later, Franklin electroplating firm working to diversify its customer base It all started with spoons. These days, Franklin-based Electro-Spec is a $5 million a year electroplating company that produces components for the automotive, telecommunications and medicaldevice industries. That's quite a change from its origins in 1959, when the company focused on spiffing up antique silverware. "It did silver and gold plating of family heirlooms," said President Jeff Smith, who bought the company...
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Ex-banker creates empire by buying, boosting sleepy businessesRestricted Content

September 3, 2007
Anthony Schoettle
Riverside Manufacturing was a sleepy New Castle firm with $5 million in sales when Fred Merritt bought it to try his hand at running a company. Five years later, Riverside's sales have grown a whopping 800 percent, it dominates its industry, and Merritt, 39, is ready to work his magic on an Indianapolis company.
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ECONOMIC ANALYSIS: How Indiana's industrial economy looks to a newcomerRestricted Content

August 27, 2007
Mike Hicks
This week marks the start of my tenure as director of Ball State University's Bureau of Business Research. I take over from Pat Barkey, whose thoughts on the state's economy have long graced this column. His will be hard shoes to fill. I have read over many of Pat's old columns, and the one thing that stands out is how much we agree on the issues facing the state-and their solutions. Contrary to the old stereotypes, hard-headed economists usually come...
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Cummins cleans up with dieselRestricted Content

August 20, 2007
Anthony Schoettle
Less than a decade ago, diesel engines were viewed as loud pollution machines punching holes in the ozone. Now their cleaner, quieter cousins are powering a resurgent Cummins Inc.
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EYE ON THE PIE: Life goes on despite property taxesRestricted Content

August 20, 2007
Morton Marcus
Miss Sugar repeated her dominance of the candy- and cakeeating contest at the Indiana State Fair. "Ya gonna write about property taxes again this week?" she asked as we rode the Ferris wheel high above the fairground lights. "I should, but I can't," I said. "My mind fades out when the topic comes up." "So whatcha gonna write about?" she asked, chewing her taffy vigorously. "Plymouth," I replied. "Da rock or da old car?" Miss Sugar asked. "The city in...
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Mother of invention: Out of necessity, new mom conceives innovative baby mobile deviceRestricted Content

August 13, 2007
Della Pacheco
As a commercial and appellate litigator for Indianapolis-based law firm Baker & Daniels LLP, Kathy Osborn represents business and individual clients in state and federal court. She has faced formidable challenges, but one outside the courtroom proved especially difficult for the 42-year-old first-time mom: how to quiet her colicky son Harper when he awoke crying every night. A music lover, Osborn was certain she could find a musical mobile that would play a variety of soothing songs long enough to...
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OrthoPediatrics looks to kids to set it apart: Larger implant manufacturers focus on adultsRestricted Content

August 13, 2007
J.K. Wall
But that's changing now, as the orthopedics juggernaut in Warsaw has spawned another company. Formed a year ago, OrthoPediatrics in October will launch its first 10 orthopedic implants designed especially for kids. The startup hopes to do research at the offices and hospital of OrthoIndy, a group of orthopedic physicians in Indianapolis. OrthoPediatrics' niche is one that has been shunned by the larger orthopedic implant companies based in the northern Indiana city-Zimmer Holdings Corp., Biomet Inc. and DePuy Orthopaedics Inc....
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INVESTING: Strange time for business: Bad, good news aboundsRestricted Content

August 13, 2007
Ken Skarbeck
There is an ancient Chinese proverb that says, "May you live in interesting times." The saying possesses a sort of electric connotation, with hopes that one experiences an exciting lifetime. Yet in the historical use of this proverb, the interpretation of "interesting times" hasn't always meant "good times," with some recitals implying "dangerous times." For investors, our times are certainly interesting. We have a global economy that is booming. Economic growth across the planet has never been in such harmony....
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Strides taken in life sciences, experts say: Industry panel: Thanks to ongoing efforts, Indiana has experienced serious progress as biomedical hotbed during last 5 yearsRestricted Content

July 23, 2007
Five leaders of Indiana's life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part of the Indianapolis Business Journal's Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment bank Credit Suisse's Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state's life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a biotechnology company focused on the treatment of cancer through receptor-targeted...
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McBroom Industrial Services: Relationships critical to business survival Repair service keeps evolving to meet customer needRestricted Content

July 16, 2007
Marc D.
When Hilton McBroom founded McBroom Electric in his parents' garage in the midst of the Depression, he couldn't have envisioned that the company would exist 75 years later-or what it would be doing. Back then, McBroom repaired anything someone would pay him to fix. Over the years, the company evolved from repairing washers, dryers and furnace motors (and selling Maytag products) to fixing electric motors in manufacturing machinery to its current concentration-repairing and remanufacturing specialty devices used by industrial customers...
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VIEWPOINT: Domestic 'insourcing' our way to job growthRestricted Content

July 16, 2007
Joe Hornett
Anchor Lou Dobbs of CNN is a pest to some folks and a hero for others. His recurring economic message laments a view of U.S. workers losing out as companies send jobs overseas. Dobbs' critics, of course, cite his convenient omission of the many interna tional companies that invest in U.S. communities through new manufacturing plants, research facilities and other initiatives. Love the debate or detest it, but consider this: Hasn't Dobbs helped stir a discussion about how the new...
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