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Manufacturing & Technology
ECONOMIC ANALYSIS: States shed differences, except those in Midwest
November 28, 2005
Patrick BarkeyWhat can we say about the business climate in Indiana that other states aren't already saying about themselves? We think we
have a great quality of life, good access to transportation, and a hardworking labor force. So do they. We have a variety
of tax incentives, training grants and infrastructure improvements that we tout aggressively to those who would build or expand
here. So do they. In fact, one of the most remarkable trends over the last few decades has...
MoreFine-tuning a business strategy: Local violinmaker finds success by raising prices
November 28, 2005
Matthew KishF ine-tuning a business strategy Local violinmaker finds success by raising prices John Welch made a counterintuitive business
decision two years ago. The violin business was in decline. Asian manufacturers were turning out high-quality stringed instruments
for a fraction of the price of their American competitors. Welch decided to swim against the current. He raised prices. "We
realized the only way to compete with the Chinese was to improve our quality," said Welch, CEO of Indianapolis-based Sofia
Violins. "We realized...
MoreECONOMIC ANALYSIS: State economy looks good, but clouds are on horizon
November 21, 2005
Patrick BarkeyIt's the time of year to get out our crystal balls and ask this deceptively simple question: What kind of year will 2006 be
for the Indiana economy? This year, like any other, finds us making lists of what's going right, and what's going wrong, in
our economic environment. Let's start with the good news. It may surprise some of you to know there is plenty to choose from.
Topping the list has to be the surprisingly robust health of...
MoreVIEWPOINT Valerie Eickmeier: Business needs to harness power of arts
November 21, 2005
VIEWPOINT Valerie Eickmeier Business needs to harness power of arts Indiana will more fully reach its potential in economic
development for the 21st century when its common goal is to build a community where commerce and creativity can thrive. The
world is entering an era some business leaders and economists are calling the "Conceptual Age." They trace the economic growth
of our country from agriculture to industrial manufacturing, technology and the Information Age. Today, our country's primary
economic growth and...
MoreIncentive search shot down: University Loft eyes Tennessee after Hancock County spurns request to create a TIF district
November 14, 2005
Anthony SchoettleHancock County Commissioners' unwillingness to consider creating a Tax Increment Financing district has sent a growing Indianapolis-based
manufacturer looking for a new expansion site, possibly out of state. University Loft Co. CEO James N. Jannetides said he
was continually rebuffed over a months-long process to get the tax incentives his company needed to bring 200-plus jobs to
the county directly east of Marion County. Now Jannetides said he might look to consolidate manufacturing in Tennessee where
he opened a plant...
MoreECONOMIC ANALYSIS: We need to push harder to foster a tech economy
November 14, 2005
Patrick BarkeyYou have to give the folks at Techpoint, the advocacy group for technology-oriented business in Indiana, plenty of credit
for stamina. For eight years, these f o r wa r d - l o o k i n g folks have been carefully measuring the state's progress
in what was once called the high-tech economy. And for each of those eight years, the message has been depressingly consistent:
We remain at the back of the pack. That's not for lack...
MoreHammond Kennedy Whitney buys centrifuge maker: Investment allows Midwest Engineered Products to expand sales and marketing
November 14, 2005
Peter SchnitzlerSometimes, a profitable product isn't enough to sustain a company's growth. That's what financial partners are for. Consider
Midwest Engineered Products Corp. Founded in 1982 with a $1,000 investment by Jim Beattey and his son Jeff, the locally based
industrial centrifugemaker has grown since then on bank loans and its own profits. These days, it brings in annual revenue
of $10 million, with sales as far away as Europe and New Zealand. "We were having trouble keeping up with the...
MoreVOICES FROM THE INDUSTRY: Talent, education are keys in competitive field of design
November 7, 2005
Tony Mediate"Individuals with little or no formal education in design, as well as those who lack creativity and perseverance, will find
it very difficult to establish and maintain a career in the occupation," warns the department through its currently posted
Bureau of Labor Statistics Outlook. While I do suggest that designers of the future should take their career outlook seriously
given the current and expected competition, I certainly would not want to discourage them. Creativity and perseverance are
among those traits,...
MoreThere's more to logistics than forklifts and sweat: Colleges offer degrees for white-collar jobs in the field
October 31, 2005
Chris O\'malleyIt's not sexy, but it's where the jobs are. Ivy Tech Community College will offer an associate's degree in logistics management,
the latest effort in Indiana aimed at cultivating a work force for the transportation-distribution-logistics sector, known
as TDL. Meanwhile, the University of Indianapolis is preparing a concentration in supply chain management that will have key
applications in logistics careers. Experts say the educational push is sorely needed, yet it's still a challenge to get young
people interested in the...
MoreStartups offered a fast track: Motorsports-themed incubator gets green light in Brownsburg
October 31, 2005
Matthew KishHendricks County officials hope a new business incubator there revs the engines of local entrepreneurs. The motorsports-themed
facility, to be known as Fast-Start, got the green light after a year-long feasibility study concluded the project was a logical
fit for a community that already houses Prudhomme Racing, John Force Racing and Bill Simpson's Impact Racing. "It would help
achieve some of our goals in Brownsburg," said Jeanette Baker, town council president and treasurer of the Hendricks County
Economic Development Partnership,...
MoreECONOMIC ANALYSIS: State's economy humming, so why do we feel gloomy?
October 31, 2005
Patrick BarkeyThe days are shorter, the temperatures are colder, and the leaves are falling off the trees. For most normal people, that
means it's time to start carving pumpkins, planning for holidays, or even watching the World Series. But for economists, it
means something else entirely. It is the beginning of forecasting season. It's a time when organizations of all kinds are
thinking about what they can expect in the coming year. For most of us, the state of the economy...
MoreSomerset enjoying freedom: Firm grew under First Indiana, but independence brings control, president says
October 31, 2005
Scott OlsonLeaders of Somerset CPAs PC are soaking in the single life, one year after they split from First Indiana Corp. Twenty-one
Somerset partners bought the assets of the accounting firm from the locally based public company on Oct. 25, 2004, ending
a four-year relationship in which bad timing contributed more to the breakup than bad karma. The corporation is the holding
company of First Indiana Bank. At a time when the Sarbanes-Oxley Act mandates auditor independence, Somerset President Patrick
Early,...
MoreLathering up for a buyout?: Local hair care products biz Kenra could fetch $80 million
October 24, 2005
Anthony SchoettleKenra LLC, a locally based hair-care products manufacturer that has nearly tripled its revenue in six years, is looking for
a buyer. New York-based Giulliani Capital Advisors LLC is helping the 76-year-old company find a suitor, according to sources
familiar with the situation. Kenra reported its annual sales doubled last year to $80 million on the strength of a new line
called Kenra Platinum, an upscale haircare collection. Company officials told Women's Wear Daily in March sales could increase
another...
MoreECONOMIC ANALYSIS: Bankruptcy of Delphi Corp. isn't all bad news for state
October 24, 2005
Patrick BarkeyThe long-anticipated bankruptcy filing of Delphi Corp. has sparked yet another discussion of the viability of manufacturing
as a pillar of the Indiana economy. Such discussions, unfortunately, have become commonplace in many communities across the
state in the last 10 years, in the wake of other troubling developments. Most of us know the face of manufacturing has changed
across the state, but to see the world's largest auto-parts manufacturer-once part of mighty General Motors Corp. itself-succumb
to this fate is...
MoreIn a race for robotics: Crash doesn't quell Jones' hope of building new industry
October 17, 2005
Peter SchnitzlerOne day in the not-so-distant future, robot drones will drive the military's supply vehicles through dangerous war zones.
They'll pilot tractors across farm fields and steer plows as they scrape snowy highways. Automatic cars will even whisk you
to and from work. High-tech entrepreneur Scott Jones, 44, believes with a zealot's fervor this all will happen. More than
a gee-whiz observer, the man who helped invent voice mail hopes to establish a robotic vehicle business-and ultimately the
robotic vehicle industry-in...
MorePathway to growth: Production firm's storytelling attracts national attention
October 10, 2005
Anthony SchoettleDespite a wall lined with Emmy Awards and a client list including ESPN and VH1, Pathway Productions founder Michael Husain
is as eager to talk about corporate work and Web site development as his firm's latest Peyton Manning documentary or his work
showcased in this year's Heartland Film Festival. "The new media side of our business, and that includes Web site development,
grew 100 percent in each of the last two years," Husain said. "So you can see why we're...
MoreBacking home again: CID changes out-of-state course, invests $50M in Indiana
October 10, 2005
Peter SchnitzlerIndiana's flagship venture capital firm has changed direction. Often criticized for not investing frequently enough within
state lines, CID Equity Partners over the last five years has quietly put nearly $50 million to work in 10 Indiana companies.
In the decade before, CID invested in just a half-dozen local deals. And after struggling to weather the 2001 recession, CID's
managers believe the wind is finally at their back. Three years ago, massive losses threatened to sink the firm. Since then,...
MoreChild-safety concerns lead to new division: Company uses R&D to manufacture innovative car seat
October 10, 2005
Anthony SchoettleIndiana Mills & Manufacturing Inc. is creating a new division, launching a new product, and cutting a new path straight to
retail consumers. It's a big departure from the 45-year-old company's historical path to profitability. Westfield-based IMMI
has long made its money supplying a lengthy list of manufacturers and distributors in the transportation and heavy-equipment
sectors with its innovative seat belts, rollover systems for heavy trucks, and restraint systems for school buses and on-
and off-road commercial vehicles. But company...
MoreBob Wilson & Associates Inc.: Consultant helps companies predict workers' potential Personality test provides key information
to guide businesses' personnel decisions
October 10, 2005
Jo EllenPersonality test provides key information to guide businesses' personnel decisions It may not be fortunetelling, but the Predictive
Index gives important clues about an individual's success or failure in certain jobs. In Indiana, Michigan and Ohio, the trademarked
personality test is licensed to Bob Wilson & Associates Inc., a Carmel consulting firm that works with more than 200 companies,
helping with hiring, retaining, managing and motivating employees. The firm also works with corporations on strategy and other
management services. Wilson,...
MoreNew Citizens chief faces tough crowd: High gas prices, cranky industrial customers await Lykins
October 3, 2005
Chris O\'malleyFor seven days each July, Carey Lykins hikes a leg over his Trek touring bike in hopes of conquering Iowa. The [Des Moines]
Register's Annual Great Bicycle Ride Across Iowa is a grueling 471 miles between the Missouri and the Mississippi Rivers.
"It can be brutally hot, but it's a real adventure," said the 53-year-old Lykins. The same could be said for the tour Lykins
began Oct. 1 as president and CEO of Citizens Gas & Coke Utility. The 32-year...
MoreBiz groups join forces: Agencies hope to reach more minority-, women-owned firms
September 26, 2005
Tracy DonhardtTwo organizations that aim to increase business opportunities for minorities and women have formed a united front, hoping
to foster even greater diversity among companies. Indiana Business Diversity Council and the National Association of Women
Business Owners'local chapter aren't only sharing knowledge and resources-they'll also share space when NAWBO moves in with
IBDC later this fall. NAWBO hopes the partnership will enhance its networking capabilities. It also will give the all-volunteer
organization it first-ever place to call home. For its...
MoreAre you prepared for DISASTER?: Despite warnings, many businesses fail to plan for the worst
September 26, 2005
Scott OlsonAre you prepared for Despite warnings, many businesses fail to plan for the worst Frank Hancock didn't have a disasterrecovery
plan when a tornado tore past his east-side printing company two years ago, causing $5 million in damage. Severe wind gusts
from the Sept. 20, 2003, storm shredded Sport Graphics Inc.'s 5-month-old warehouse and manufacturing facility and tore 13
1,800-pound air-conditioning units from the roof, dumping them on the parking lot below. One was never recovered. Amid the
mayhem that...
MoreSuccession 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....
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In my opinion the estridge companies are crooks. They filed bankruptcy on their 'track housing' side of the business two weeks before they closed on one of my clients' homes. When my client first interviewed Estridge as a builder 6 months before, they specifically ASKED about the solvency of their business, knowing that some builders were struggling. Estridge truly misrepresented their financial situation at that time. I suppose I am more unhappy with the whole system than I am with the builder because what the heck==you can file bankruptcy on 'track homes' but still keep building and make money off of 'custom built' homes??? How ridiculous! They are all homes. How can a company be allowed to bilk thousands of dollars from their subcontractors but still be allowed to build houses?? they should have been made to pay back all their unpaid contractors before being allowed to profit from building any more houses! This alone makes them and the system crooks in my eyes. I would never build an estridge home and I would not recommend for my clients either. If they were truly 'bankrupt' how could they afford to keep building homes anyway??? The whole system needs fixed.
I live a couple blocks east of the Angie's campus and my house is assessed for ~$160,000. If I could get that amount, let alone $384,000 (a 140% bonus), I'd sell in a minute. Either Angie's stockholders just got fleeced, or Angie's is getting about a 58% discount on their property taxes, if these properties are actually worth what they paid Mr. Oesterle for them. Which do you think is the case?
Perhaps the IMA board is really to blame! They agreed to hire Charles. They can't seemingly find donors among themselves, or bring in new blood that will support the museums operating budget with an expanded museum and money to provide curators with something to do (ie buy art). The headlines of disarray at the museum and mass firings are hurting the reputation of the museum for some time to come. If people on the board had misgivings, perhaps they shpuld have more forcefully opposed efforts that they have seemingly been unable to fund, like expansion and the costs it has created!
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.