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Manufacturing & Technology
Succession plans overlooked by biz owners: Preparing for inevitable difficult but necessary
September 26, 2005
Peter SchnitzlerGo ahead. Ignore the inevitable. Refuse to imagine a future where anybody else could take over that corner office of yours
with the big mahogany desk. You won't be the only one. But you'll regret it. "The biggest mistake people make-they don't let
go soon enough. They need to get other people involved along the way, maybe get them some equity along the way," said Glenn
Scolnik, CEO of locally based Hammond Kennedy Whitney & Co. Inc., the state's largest...
MoreVOICES FROM THE INDUSTRY: Innovators shouldn't forget the importance of protection
September 19, 2005
Nancy G.Technology-based companies depend on their intellectual property to protect innovations, but many fail to plan beyond the
initial patent filing and leave key intellectual property unprotected. Some companies put off filing a patent application
only to discover the delay prevents them from obtaining a patent for their invention. Here are a few tips that every technology-based
company should follow to protect its intellectual property. File early Entrepreneurs and start-up companies are eager to present
their innovations to investors and the...
MoreInterest high for soon-to-be-shuttered foundry: Size, location make redevelopment promising
September 19, 2005
Tammy LieberWhen the workers at DaimlerChrysler Corp.'s Indianapolis Foundry clock out for the last time at the end of the month, they'll
leave behind 756,000 square feet of factory space, tons of equipment, and more than 52 acres of industrial land on the city's
west side. Rather than becoming a rusting industrial relic along Interstate 70, however, the buildings will be razed and real
estate experts expect the land will soon find a new use, albeit likely not for a factory....
MoreEconomic developer for hire: Miller's brain trust spreads advice from town to country
September 12, 2005
Peter SchnitzlerIt's about soybeans and high hopes. Clinton County has only 34,148 residents, nearly half of them living in the county seat
of Frankfort. Most of the labor force works in either farming or auto-parts manufacturing. Neither is generally considered
the field of the future. Enter economic development consultant Thomas P. Miller & Associates. Since Clinton County is the
state's fifth-largest soybean producer, TPMA counseled a strategy based on what it already does well. Starting next year,
federal regulators will require...
MoreBomar Industries: Metal fabricator builds on expertise Bomar Industries' owners started without a business plan, but succeeded
anyway
September 12, 2005
Jo EllenBomar Industries' owners started without a business plan, but succeeded anyway Brothers Bob and Mark Buchanan have parlayed
their passion for drag racing and metal bending into a $3 million enterprise with only growth on the horizon. The brothers
started Bomar Industries like a lot of entrepreneurs-with no business plan and their own money and equipment. The Buchanans
already had lathes, mills, welders and other supplies for their work on dragsters and other hobby projects. Bob, 50, was an
engineer...
MoreROUGH ROAD AHEAD?: Chrysler foundry's closing a warning sign for other plants
September 12, 2005
Anthony SchoettleChrysler foundry's closing a warning sign for other plants The closing of DaimlerChrysler Corp.'s foundry west of downtown
at the end of this month signals more than the end of nearly 900 jobs there. "There's a fundamental change occurring in the
automotive industry right now," said Matthew Will, director of the University of Indianapolis' graduate business program and
associate dean in the School of Business. "Unless local manufacturers in this sector don't reposition, I would certainly expect
to see more job...
MoreLilly battles five-year flu: Analysts: Drugmaker primed for rebound from Prozac defeat
August 29, 2005
Tom MurphyIt's been a challenging five years for Eli Lilly and Co., which has launched nine new drugs yet seen the price of its stock
fall by half, wiping out more than $60 billion in market value. However, company officials say the drugmaker has rallied from
the jarring setback it received Aug. 9, 2000-when a federal appeals court invalidated Prozac's patent protection-and are optimistic
better times lie ahead. They say the company is positioned to increase profit and revenue, thanks to...
MoreCleaner diesel fuels growth at southeast-side factory: Former International Harvester plant is a star for Chicago-based parent
Navistar International Corp.
August 29, 2005
Anthony SchoettleWorkers at the once-beleaguered International Truck and Engine Corp. plant on the city's southeast side are thinking expansion
following a $300 million plant upgrade and word of an aggressive 2006 marketing campaign designed to clean up the public image
of diesel engines. Improvements to the 1.1-million-squarefoot Brookville Road facility were necessary to meet U.S. Environmental
Protection Agency mandates for diesel engines set to take effect in 2007, but the plant's future seems secure well beyond
that. The local subsidiary of...
MoreECONOMIC ANALYSIS: High energy prices make consumers act rationally
August 29, 2005
Patrick BarkeyHave you seen the latest opinion polls on the Bush administration? At a time when the U.S. economy is growing faster than
that of any other industrialized nation, when unemployment rates are down and consumer spending is up, less than half of us
think the president is doing a good job handling the economy. There's plenty to find fault in our economic performance, of
course. We still have a massive trade imbalance with the rest of the world. The federal...
MoreMore business owners embracing economy: High fuel costs, personal debt dampen some optimism
August 22, 2005
Scott OlsonBusiness owners are beginning to show signs of completely emerging from a recessional slumber, although some holdouts remain
unconvinced an economic recovery is in full swing. The confidence exuded by the state's massive manufacturing sector could
be sending the most optimistic signal. From 2000 to 2003, manufacturers in Indiana were stung especially hard by the soft
economy, shedding 75,000 jobs. While many of those positions may never return, employment levels have at least stabilized.
That seems to have provided enough...
MoreECONOMIC ANALYSIS: Don't make too much of July economic data
August 22, 2005
Patrick BarkeyThere are dates on the calendar that make some of us tremble. The Ides of March was a bad one, as I recall, for a certain
Roman emperor long ago. Stock market traders know and fear those triplewitching days when futures and options contracts expire.
But for those of us who track the regional economies around the state, it's really a whole month that makes us sweat. It's
the month of July, thanks to the screwy data we receive for...
MoreSpecial Report: Buying blind: Lack of oversight leaves state in dark on real estate deals The state of Indiana knows how much
it's spending to lease property statewide -nearly $40 million a year. But it doesn't know if that's too much.
August 15, 2005
Tammy LieberThe state of Indiana knows how much it's spending to lease property statewide -nearly $40 million a year. But it doesn't know
if that's too much. State contracts for third-party real estate services give government officials few safeguards to ensure
they're paying a fair price for office, laboratory and storage space outside of state-owned buildings, those in the industry
say. And state administrators have no control over seven-figure commissions paid to two Indianapolis real estate brokers in
the past decade,...
MoreAdidas sale could bring changes to former Reebok facility: German sports giant has a history of using overseas manufacturing
sites
August 15, 2005
Anthony SchoettleAdidas' plan to buy Massachusettsbased Reebok International Inc. for $3.8 billion has put the future of Reebok's eastside
manufacturing plant in doubt again. Though Reebok officials insist the immediate future is secure for the 600,000-square-foot
operation off Post Road, industry experts say changes are on the way. Reebok took ownership of the facility in 2001 when it
bought Indianapolis-based licensed apparel maker Logo Athletic out of bankruptcy court. Since then, Reebok has invested heavily
and expanded local staff from 400...
MoreVIEWPOINT: Signs of economic recovery all around us
August 15, 2005
Barbara BranicAfter weathering some difficult times over the last few years, there are encouraging signs that central Indiana has turned
the corner on its road to economic recovery. The Indianapolis metro area added 22,000 jobs in the year ending in March-a 2.4-percent
increase-and in May, the Indiana unemployment rate dipped below the national average for the first time since December. All
signs point to continued modest growth. Patrick Barkey, IBJ contributor and Ball State University economist, says, "We should
expect to...
MoreGroup wants energy czar: Coalition believes utilities slow to climb on efficiency bandwagon
August 15, 2005
Chris O\'malleyChris Maher's crews at Thermo-Scan Inc. have been plenty busy inspecting for drafts and puny insulation in many of the 14,000
new homes built each year in the metro area. Even so, the principal at the Carmel firm can't help wonder about the vast potential
to make the hundreds of thousands of existing homes and businesses more energy efficient-if only homeowners had a little more
incentive. Utility companies, he says, have relatively few dollars budgeted to coax customers to install...
MoreState firms pioneers in boosting electric efficiency:
August 15, 2005
-Chris O\'malleyIndiana already has a number of firms working on technology aimed at boosting energy efficiency and capacity. Early this month,
Indianapolis-based Trexco LLC said the U.S. Patent Office awarded it two dozen patents for a cooling system it has developed
for large electrical transformers, such as those used at utility substations. The "transformer extender" is designed to stretch
the capacity and lifespan of the transformers, which typically cost $2 million to $5 million and are the size of a Mack...
MoreVOICES FROM THE INDUSTRY: Reaping the benefits of the American Jobs Act
August 15, 2005
Michael FrittonAstute real estate professionals should be taking advantage of several tax-saving provisions of the American Jobs Creation
Act of 2004. The act was signed by President Bush last October to spur economic development and investment. The primary components
of the Amer ican Jobs Creation Act include increased depreciation deductions on leasehold improvements, greater flexibility
for real estate investment trusts, modification of expensing rules for equipment and vehicles, and a reduction in the tax
rate for domestic manufacturing activities. Leasehold improvements...
MoreReviving a legacy: Grandson of Best Access Systems founder builds security firm that plans to go national
August 1, 2005
Anthony SchoettleIn some ways, Richard Best has never gotten over his departure from his family's business, Best Access Systems. Some memories
he'd rather forget. But others he carries with him like treasures carefully secured under lock and key. "That was a very difficult
time," Best said in halting tones, referring to 1995, when his youngest brother, Russell, acquired control of the company
and used his leverage to buy out him, his father, Walter, and brothers Robert and Marshall. "It was our...
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...
MoreBias claimed at Citizens Gas: Black workers: Test limited advancement
August 1, 2005
Chris O\'malleyCitizens Gas & Coke Utility is battling allegations that a test used to screen employees and outside job applicants was biased
against blacks, hindering their chances of getting hired or advancing. The city-owned utility last year reached a confidential
settlement with the Equal Employment Opportunity Commission on behalf of applicants who weren't hired because the test "has
an adverse impact on black employees and applicants for promotion, transfers and hire," according to EEOC documents. Now,
that settlement-which included cash payouts...
MoreTax credits aid blighted areas: Help open to firms targeting Center Township projects
July 25, 2005
Scott OlsonFederal tax credits supporting roughly $6 million in economic development projects are still available for small-business
owners considering expanding or locating in Center Township. The funds are administered through the New Markets Tax Credit
Program, which was established by Congress in 2000 to help revitalize blighted areas. In Indiana, the locally based Urban
Enterprise Association Inc. helped secure tax credits that can fund $50 million worth of projects, including $12.5 million
in Marion County. The tax credits already are supporting...
MoreECONOMIC ANALYSIS: Manufacturing sector keeps Indiana economy chugging
July 25, 2005
Patrick BarkeyThere is mostly good news on the economy. Both in Indiana and in the nation as a whole, we appear to be heading into the year's
second half with reasonably strong momentum. Buoyed by surprisingly low interest rates, a weak dollar and a strong rebound
in business spending nationwide, the state economy has turned in a solid performance in the last six quarters. Through the
first six months of the year, the Indiana economy is on a pace to create...
MoreBEHIND THE NEWS: Neither SEC, Dick in rush to bring fraud suit to trial
July 25, 2005
Greg AndrewsThe Securities a n d E x c h a n g e Commission didn't file its civil-fraud suit against former Conseco Inc. Chief Financial
Officer Rollin Dick until 2004, four years after he resigned under pressure. Under a timetable approved by federal Magistrate
Judge V. Sue Shields July 14, Dick won't stand trial until May 2007 at the earliest. By then, he will have turned 75, and
the transactions challenged by the SEC will be more than seven years...
MoreVIEWPOINT: Hoosiers gave tech transfer a big boost
July 18, 2005
Cam CarterToday, we take for granted that our state universities play a role far beyond their traditional educational mission-especially
in the economic arena. University-sponsored research is being licensed to the private sector, or used to form new companies.
Universities are managing business incubators. Consulting partnerships between academia and industry are commonplace. It wasn't
always this way. Not long ago, university officials were skeptical of becoming too involved with the private sector. Business
leaders and investors didn't recognize the value of innovation...
MorePurdue, Regenstrief look for ways to trim health costs: Health & Hospital Association a 'real-world' partner
July 11, 2005
Scott Olson"Ultimately, we think the benefits of the partnership will be more efficient, costeffective care to the citizens of Indiana,"
Morr said. "The bottom line is, how can we do what we do better?" Small and medium-size hospitals, which typically do not
have people on staff dedicated to study the types of issues the Regenstrief center will tackle, could benefit most from the
affiliation, Morr said. Ed Abel, director in charge of health care services for the locally based Blue &...
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My favorite magician is Mickey in Fantasia.
I ate at a Steak n Shake a couple of weeks ago and was amused to see a poster of him (and a lineup of employees) just inside the entrance. You don't see that at other chains -- OK maybe Dave the Wendy's guy, but that was when he was also in their TV ads.
Well he wasn't a magician in the latest movie, but up in Fort Wayne he was featured on Happy the Hobo when I was a kid and I LOVED THE SHOW!
Shake Shack>Steak n' Shake
I really enjoyed the Hollywood Bar and Film works, they had good food and decent prices I understand that parking was one of the reasons for its closing. If other major events were going downtown parking was expensive if not impossible. Hope the new cinema bar will have parking.