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Local firm snags major deal from Wall Street: City Securities leads $390 million airport bond issue

June 12, 2006

Indianapolis-based City Securities Corp. is leading a $390 million bond issue for the Indianapolis International Airport expansion. To snag the deal, it overcame a host of far larger competitors on Wall Street. To paraphrase Mark Twain, reports of the death of local investment banking are greatly exaggerated. It’s the second-largest bond deal in City Securities’ 82-year history, surpassed only by the city’s 2002 purchase of Indianapolis Water Co. for $580 million. City Securities also led the water deal. “We’ve done…

Standard Life turns page, rolls with changes: A year after sale, firm improves rating, makes profit

May 29, 2006

Standard Life Insurance Company of Indiana has much to celebrate as it passes the one-year anniversary of its sale to Capital Assurance Corp. Profitability, a rating upgrade and product launches all are among the positives the company can tout since it gained new life and left behind old owner Standard Management Corp. last June. Standard Life notched a $15.8 million profit last year, due mostly to a gain from the sale of its life insurance business. Subtract that, though, and…

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…

STAYING POWER: Bryant in sixth decade as racing sponsor at Brickyard

May 22, 2006

What started as a few-thousand-dollar investment to put a company logo on Eddie Johnson’s 1958 Indianapolis 500 car is now a year-round marketing commitment for Bryant Heating & Cooling Systems, valued in the annual mid-six-figure range, to sponsor an Indy Racing League team for the entire season. For 48 years, Bryant’s logo has adorned the sidepod of an open-wheel race car at the Brickyard, as the company has increasingly used the race-and later the entire IRL series-in its marketing and…

ATA reorg a bonanza for lawyers, financial firms: Court still must decide whether to approve $21 million in fees and expenses sought in case so far

May 15, 2006

Lawyers and other professionals have asked for more than $21 million in fees and expenses for their work on ATA Holdings Corp.’s reorganization, in what appears to be the most expensive case ever in U.S. District Bankruptcy Court for the Southern District of Indiana. But fees and expenses might rise to $33 million after a handful of remaining professional firms file their claims by the end of this month, said James Carr, a veteran Baker & Daniels attorney who quarterbacked…

First-class parking: Airport freebie list includes former politicians, other VIPs

May 1, 2006

Scott Jones could probably afford to buy the 1,800-space parking garage at Indianapolis International Airport, as one who’s earned millions of dollars in patent income from voice mail technology he invented. But why buy the garage? The Indianapolis multimillionaire shows up on a list of nearly 400 politicians and other VIPs entitled to free parking at the airport, a review of airport records shows. Begun as a courtesy to a handful of elected officials decades ago, the free parking list…

Local facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders

April 10, 2006

A spacious home near Stony Creek in Noblesville once known as the Hare estate has been transformed into an intensive treatment facility for young women struggling with severe eating disorders. Dubbed Lotus House, the three-story residence began hosting patients in October. Partners Patrick Hall, 40, and Misty Rees, 33, founded the facility to provide an inpatient alternative to standard care. The facility, which offers therapies for anorexia nervosa and bulimia, is just the second in the Indianapolis area to treat…

Mexican truckers file lawsuit against Celadon: Trucking giant disputes discrimination, calls other claims ‘a form of extortion’

April 10, 2006

To Celadon Group Inc., it’s ambulance chasing, Tex-Mex style. Mucho absurdo. To a handful of Texas lawyers who filed suit against the Indianapolis-based trucking company last month, it’s an opportunity to haul home triple damages on allegations of racketeering and wage discrimination against Mexican citizens who drove Celadon’s trucks on this side of the border. At the least, the allegations in a lawsuit filed in U.S. District Court in Laredo, Texas, reflect a complex relationship between North American neighbors, said…

Shared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities

April 10, 2006

New guidelines due out in June will call for newly constructed hospitals to come equipped with all private patient rooms, the first time such a minimum requirement has been issued. The guidelines, published every four years by the Facilities Guidelines Institute and the American Institute of Architects’ Academy of Health, are used by nearly 40 state governments-including Indiana-to set regulations, approve construction plans and license hospitals to operate. And hospitals nationwide-including those in Indiana-are expected to embrace the guidelines that…

BRIAN WILLIAMS Commentary: Legislators should address insurance costs

April 10, 2006

Members of the Indiana General Assembly resolved some contentious issues in 2006, including property tax relief, telecommunications reform and the long-term leasing of public infrastructure. U n f o r t u n a t e l y, they did not have an opportunity to debate Senate Bill 124, which, if measured on the basis of the value per page, would have exceeded the much-heralded “Major Moves” transportation initiative. Introduced by Sen. Beverly Gard, a Greenfield Republican who has been…

HMOs report steady profits, falling membership: Indiana insurers performed well overall in 2005

March 27, 2006

Most of Indiana’s largest HMOs managed to turn profits in 2005, even as other kinds of health insurance gained market share, sucking away 6 percent to 15 percent of their customers. Technology improvements and more efficient operations helped counter those losses, health maintenance organization executives said. However, annual reports filed with the state Department of Insurance show that profit for some of these managed care options slipped compared to 2004. Industry insiders say many companies are reluctant to offer HMOs…

States demand One Call answers: Carmel telephone firm ‘out of control’

March 27, 2006

A Carmel long-distance and operator service company has a lot to answer for these days. After crossing wires with Indiana regulators and with the Federal Communications Commission last year, One Call Communications now is being accused by Iowa and Missouri regulators of putting bogus charges on phone bills and then harassing people to pay. Missouri Attorney General Jay Nixon this month filed a lawsuit alleging the privately held company violated state and federal consumer protection laws. Nixon said the company…

VIEWPOINT: Business is a dog-eat-dog world

March 20, 2006

Has our approach to competition helped us create more successful companies? I have found it interesting to study competition and the related business paradigm within which we operate, to see what brought us here, and to see the effects of that paradigm on industries and companies. Like most of us, I learned about competition as a child. It was a natural progression to go from playing with friends and just having fun to playing to win at something. Almost without…

Short session long on action: Led by Major Moves, telecom successes, biz interests fared well in 2006 General Assembly

March 20, 2006

In less than three months, the Indiana General Assembly approved a pair of blockbuster economic-development measures designed to dramatically upgrade the state’s infrastructure. With the passage of Gov. Mitch Daniels’ Major Moves initiative, Indiana will lease the Indiana Toll Road to an Australian-Spanish consortium for 75 years. It will use the upfront, $3.9 billion payment to build roads. Meanwhile, the approval of telecom deregulation sets the stage for more local phone, cable and Internet competition. Daniels, a Republican, argued that…

Making the grade: Pay-for-performance system nearing reality for local physicians

March 6, 2006

Central Indiana stands on the leading edge of a national push by health care insurance systems to link doctors’ pay with their performance. The Indiana Health Information Exchange-a not-for-profit collaboration among some of the state’s largest health care providers-is developing a program that uses data collected from insurers and care providers to produce quality reports. Those reports then will be sent to doctors and used by the insurers to develop incentive programs for reimbursement. The goal: Start a system by…

Industry veteran at helm as ATA exits bankruptcy: After months of tumult, Karnik ready for ‘boring’ year

February 20, 2006

Subodh Karnik slowly backed up to his chair at ATA Airlines Inc. and slumped into it. His 46-year-old back was killing him. One of his elementary-age sons back home in Atlanta used him like a trampoline over the weekend. The injury got worse when Karnick ran through the airport, like O.J. Simpson in an old Hertz commercial, to catch a flight back to Indianapolis. “I was born a masochist,” said Karnik, a 6-foot-4-inch native of Mumbai, India, who sports a…

BRIAN WILLIAMS Commentary: Health care is hurting Indiana’s economy

February 13, 2006

Nearly 875,000 Hoosiers lack health insurance, including 165,350 children. Lack of health insurance takes a devastating toll on Hoosiers and the state’s economic health, and the effect of the uninsured will only get worse as their numbers grow. As companies confront rising health care costs, the obvious solution is dropping or scaling back health-insurance benefits. As a result, the number of uninsured increases, resulting in a premium cost shift to the insured and increased cost for government-provided health care. Over…

Landing ad revenue: Airport charged up over sponsorship of electrical outlets

January 30, 2006

Advertisements for mutual funds, watches and kolaches. Now as you wait at the gate for your flight, you’ll even see ads on electrical outlets. The Indianapolis Airport Authority on Jan. 20 was expected to approve a $65,000 marketing partnership with Chase in what is the latest and certainly the most electrifying of all advertising schemes at Indianapolis International Airport. These are desperate times for marketers. Too many ads are getting lost in the shuffle. And barraged consumers have figured out…

Landing ad revenue: Airport charged up over sponsorship of electrical outlets

January 23, 2006

‘Crammers’ facing big fines: Two firms accused of billing phone customers for directory assistance services not ordered

January 9, 2006

As in $1,071,000. That’s how much the Office of Utility Consumer Counselor wants the Indiana Utility Regulatory Commission to ring up in fines against Casper, Wyo.-based Micronet Inc. It also requests that the commission turn over the case to Indiana Attorney General Steve Carter for prosecution under the state’s deceptive practices act. Micronet is accused of billing hundreds of Indiana business, residential and state government lines in late 2004 and early 2005 for directory assistance service callers never requested or…

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Articles

Local firm snags major deal from Wall Street: City Securities leads $390 million airport bond issue

Standard Life turns page, rolls with changes: A year after sale, firm improves rating, makes profit

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

STAYING POWER: Bryant in sixth decade as racing sponsor at Brickyard

ATA reorg a bonanza for lawyers, financial firms: Court still must decide whether to approve $21 million in fees and expenses sought in case so far

First-class parking: Airport freebie list includes former politicians, other VIPs

Local facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders

Mexican truckers file lawsuit against Celadon: Trucking giant disputes discrimination, calls other claims ‘a form of extortion’

Shared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities

BRIAN WILLIAMS Commentary: Legislators should address insurance costs

HMOs report steady profits, falling membership: Indiana insurers performed well overall in 2005

States demand One Call answers: Carmel telephone firm ‘out of control’

VIEWPOINT: Business is a dog-eat-dog world

Short session long on action: Led by Major Moves, telecom successes, biz interests fared well in 2006 General Assembly

Making the grade: Pay-for-performance system nearing reality for local physicians

Industry veteran at helm as ATA exits bankruptcy: After months of tumult, Karnik ready for ‘boring’ year

BRIAN WILLIAMS Commentary: Health care is hurting Indiana’s economy

Landing ad revenue: Airport charged up over sponsorship of electrical outlets

Landing ad revenue: Airport charged up over sponsorship of electrical outlets

‘Crammers’ facing big fines: Two firms accused of billing phone customers for directory assistance services not ordered