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BEHIND THE NEWS: Smulyan’s bid exposes firm’s governance flaws

May 22, 2006

One reason Jeff Smulyan’s bid to take Emmis Communications Corp. private is so fascinating is that the Indianapolis-based radio company remains in the dark ages as far as good corporate governance is concerned. Emmis’ governance practices are better than only 2 percent of the companies in the S&P 400 and 36 percent of media companies, according to an analysis released last fall by Institutional Shareholder Services, a Maryland firm that advises big investors. What’s not to like? Here’s a sampling:…

Ex-wife gets big chunk of tech firm: Divorce settlement doesn’t give Interactive’s Kyle Brown influential voting rights

May 22, 2006

Kyle E. Brown received 3.9 million shares, or 23.9 percent of outstanding common shares, under a property settlement approved Feb. 14 in Boone Superior Court. At recent trading prices of around $9.60, that stake would be worth about $37.4 million to Kyle Brown. That still leaves Don Brown as the largest shareholder, with 4.8 million shares, or 28.6 percent, of the business communications software company he co- founded in 1994. In recent weeks, Kyle Brown has been reducing her holdings-selling…

BULLS & BEARS: Nation’s hefty trade deficit puts value of dollar at risk

May 22, 2006

Whenever anyone starts talking about foreign currencies and the U.S. dollar, you can usually see eyes-including mine-glazing over. Nevertheless, now may be a particularly useful time for investors to gain awareness on this topic. Currently, a number of wise investment thinkers share a growing concern that the U.S. trade deficit, currently running at an unprecedented 7 percent of GDP (the country’s output of goods and services), will eventually trigger a dollar decline. At Berkshire Hathaway’s annual meeting a couple of…

Emerging Riley specialty to look for more doctors: Hospital emergency department sees rapid growth

May 22, 2006

Riley Hospital for Children is looking for a few good doctors to man its bulkedup Emergency Department, the latest sign of the swelling national demand for pediatric ER services. Indianapolis-based Emergency Medical Group Inc. will take over management of Riley’s Emergency Department July 1 and bring in a new medical director, Dr. Bob Collins. He, in turn, might hire as many as seven doctors trained in pediatric emergency medicine over the next few years, some of whom may replace physicians…

Conseco hoping to settle: Class action accuses insurer of misleading its customers about life insurance costs

May 22, 2006

Conseco Inc. appears close to resolving a class-action lawsuit that encompasses 75,000 polices and accuses the company of duping customers about the cost of insurance. The Carmel-based company said in a regulatory filing that it has entered settlement talks “in an attempt to avoid the risks and costs of protracted litigation” and has set aside an undisclosed amount of money toward resolving the matter. At issue are so-called Lifetime and Lifestyle universal life insurance policies purchased by customers nationwide in…

Tower erector rises from ruin: Once bankrupt, water tank firm grows into industry giant, acquires competitor

May 22, 2006

From the ashes of bankruptcy in 1986, an Avon-based firm has ascended to the top of an industry that might seem old-fashioned: building and maintaining water towers. But the owners of Phoenix Fabricators and Erectors Inc. say new demand for their product, driven by factors as diverse as aesthetics and alternative fuels, promises to boost the firm’s $80 million in annual sales as Phoenix grows from within and through acquisitions. Phoenix this month acquired Sebree, Ky.-based Pittsburgh Tank and Tower…

Stringtown-the next downtown success story?: Trio of real estate investors are betting on the burg

May 22, 2006

Drive around the roughly 50 blocks of Stringtown, a small, working-class neighborhood on the city’s near-west side, and you’ll come across some cute, rehabbed, two-bedroom houses for rent. But there are also signs of neglect-boarded-up houses with siding falling off, cars up on blocks, and broken windows. In the neighborhood just west of White River and the Indianapolis Zoo, a few real estate investors are wagering that the tight-knit district is ready to blossom. The burg stretches from the river…

Area construction employment surging: Workers stay busy as industry experiences 15 consecutive months of job growth

May 22, 2006

Building tradesmen in central Indiana don’t need a mind-numbing jobs report to tell them construction workers are in high demand. They need not look any further than their apprentice programs and union halls to gauge the industry’s health. The way the barometer works is simple: Full apprentice classes mean contractors are hiring and empty union halls mean they’re working. “When the benches are empty, that’s a good thing,” said Mike Kerr, a principal at locally based contractor F.A. Wilhelm Construction…

SPORTS: Justin Gatlin is a fast fix for USA Track and Field

May 22, 2006

Shortly thereafter, he was on his way to Indy to promote the upcoming AT&T USA Track & Field Outdoor National Championships. The event takes place June 21-25 at the Michael Carroll Stadium at IUPUI, and it’s the result of Indybased USA Track & Field’s initiative to bring more of its events to its hometown. Talk about good timing. Track and field’s national profile needs a between-Olympic-years boost and track and field locally-the kind that used to electrify this city back…

Stadium architect beats ‘dark horse’ status: Experience with other sports arenas wins HKS first pro football project

May 22, 2006

The imprint HKS Inc. will leave on the city with its design of the new Indianapolis Colts stadium will reshape downtown for years to come. But the high-profile project is also significant for the Dallas-based architectural firm because it represents the first time HKS has designed a professional football arena. Any questions the selection team might have had about the firm’s credentials were quickly put to rest, however. “[They] came and visited and said, ‘When you guys start looking for…

BEHIND THE NEWS: Honeymoon period ends for Steak n Shake’s CEO

May 29, 2006

The steakburgers and shakes still taste good, but suddenly the stock is less appetizing. Shares of Steak n Shake Inc. have shed 22 percent of their value since late March, wiping out $122 million in market value. And now CEO Peter Dunn, who had the Midas touch after coming aboard as president in September 2002, is confronting skepticism on Wall Street. “It just seems like something is missing,” A.G. Edwards analyst Jack Russo told Dunn during Steak n Shake’s quarterly…

Plant left with hazy future: Ex-Visteon factory employs 2,000-for now

May 29, 2006

A struggling auto plant on Indianapolis’ east side has quietly shed 300 workers in the past year, reducing employment to 2,000, and analysts say it remains vulnerable to closing. If the steering-components plant on English Avenue meets that fate, employment losses would exceed the 1,500 jobs Indiana hopes to win by persuading Honda Motor Co. to build a $400 million plant in the southeastern part of the state. Before last fall, the east-side plant was part of Visteon Corp., a…

PROFILE ALEX INTERMILL: Life is an ongoing adventure for local attorney

May 29, 2006

PROFILE ALEX INTERMILL Life is an ongoing adventure for local attorney As an attorney, Alex Intermill is used to the hectic pace of corporate law. So you’d think that in his spare time, he’d just want to kick back and relax. You’d be wrong. The 33-year-old is an environmental and real estate attorney with Indianapolis-based Bose McKinney & Evans as well as the town attorney for Pendleton, in Madison County. He gets his adrenalin pumping by competing in mountain bike…

Entrepreneurs keep day jobs: Moonlighting helps owners mitigate startup risks

May 29, 2006

Inventions at various stages of development are scattered around Qamar Shafeek’s ranch-style home on Indianapolis’ east side. An unnamed doohickey attached to a curtain rod pulls drapes open and shut along with the sliding glass door. A voice box gadget tells the single father when the garage or side doors open, alerting him to his children’s comings and goings. And a plastic pinwheel with tennis balls attached to the ends is making its way from a napkin-sketch idea to a…

Good banking relationship can help business:

May 29, 2006

Capital is the lifeblood of any business. But fresh infusions of money are particularly important for startup and small businesses, since they often can’t fund new equipment, employees or facilities out of their cash reserves or profits. The top three sources of new capital for small business are owner’s equity (33 percent) bank loans (20 percent) and trade credit (15 percent). Let’s focus on bank loans and simple ways that small-business owners can improve their chances of getting a loan…

Insurance compact clears big hurdle: Initiative’s aim is to cut red tape, improve speed

May 29, 2006

A nationwide effort that would let some insurance sectors push products to market quicker is set to become reality, after Ohio became the decisive state to enter the consortium earlier this month. The multistate compact for life insurance, disability, annuity and long-term care products creates a single point of filing for providers. The object is to cut down on the time it takes insurers to seek approval from every state in which they operate before introducing or setting rates for…

VOICES FROM THE INDUSTRY: Association health plans are destined for failure

May 29, 2006

As the cost of health care rises, legislators in Washington, D.C., look for ways to make health care insurance more affordable for everyone. The Indiana State Association of Health Underwriters applauds the efforts of legislators to accomplish this. But the attempt to accomplish this through Association Health Plans, while commendable, ignores history and fails to address the underlying issue-the rising cost of health care. The idea of AHPs has gained in popularity in Washington on the belief that large groups…

Part-time manager experiment working: Pilot program could be expanded beyond Indianapolis

May 29, 2006

The bell outside Michael Goldberg’s office rang, and the OmniSource Marketing executive exchanged a knowing glance with part-timer Rob MacDonald. One of the company’s 17 sales representatives had just closed a deal. And MacDonald deserved some of the credit, since he has managed OmniSource’s sales force for about a year-working four hours a day twice a week. It’s a concept MacDonald developed as part of his full-time job at Sales Team, an Indianapolis-based consulting firm. The aptly named Part-Time Sales…

Firm finds direct approach pays off: Marketing Informatics, part of hot industry, sees revenue rise by $28 million in 3 years

June 5, 2006

Bob Massie came to Indianapolis in 1985 to preach the Word of God. Twenty-one years later, he’s spreading the messages of Indiana businesses, not from a pulpit, but through direct-mail advertising. Massie is shepherding a fastgrowing flock of clients. His company’s revenue has grown from $1.86 million in 2003 to a projected $30 million this year. The growth of Massie’s firm, Marketing Informatics, reflects the growth of the industry. Directmail advertising is growing more than 15 percent annually, according to…

Mass Ave condos in the works: High-end, 10-story project in trendy cultural district has 46 units, retail space

June 5, 2006

Log one more entry into the crowded field of downtown condo projects. But developers of a 10-story development at Massachusetts Avenue and New York Street think its location and amenities will reel in high-end buyers. The condos, dubbed Three Mass Ave, will be developed by a three-way partnership of Halakar Properties Inc., Pillar Investments LLC and architect Wayne Schmidt. “We want to make sure that this is a classy building that fits in with the historic nature of Mass Ave…

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Articles

BEHIND THE NEWS: Smulyan’s bid exposes firm’s governance flaws

Ex-wife gets big chunk of tech firm: Divorce settlement doesn’t give Interactive’s Kyle Brown influential voting rights

BULLS & BEARS: Nation’s hefty trade deficit puts value of dollar at risk

Emerging Riley specialty to look for more doctors: Hospital emergency department sees rapid growth

Conseco hoping to settle: Class action accuses insurer of misleading its customers about life insurance costs

Tower erector rises from ruin: Once bankrupt, water tank firm grows into industry giant, acquires competitor

Stringtown-the next downtown success story?: Trio of real estate investors are betting on the burg

Area construction employment surging: Workers stay busy as industry experiences 15 consecutive months of job growth

SPORTS: Justin Gatlin is a fast fix for USA Track and Field

Stadium architect beats ‘dark horse’ status: Experience with other sports arenas wins HKS first pro football project

BEHIND THE NEWS: Honeymoon period ends for Steak n Shake’s CEO

Plant left with hazy future: Ex-Visteon factory employs 2,000-for now

PROFILE ALEX INTERMILL: Life is an ongoing adventure for local attorney

Entrepreneurs keep day jobs: Moonlighting helps owners mitigate startup risks

Good banking relationship can help business:

Insurance compact clears big hurdle: Initiative’s aim is to cut red tape, improve speed

VOICES FROM THE INDUSTRY: Association health plans are destined for failure

Part-time manager experiment working: Pilot program could be expanded beyond Indianapolis

Firm finds direct approach pays off: Marketing Informatics, part of hot industry, sees revenue rise by $28 million in 3 years

Mass Ave condos in the works: High-end, 10-story project in trendy cultural district has 46 units, retail space