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BEHIND THE NEWS: Smulyan latest exec to see vast paper profits evaporate

Back in late 1999, Emmis Communications Corp. CEO Jeff Smulyan was sitting on company stock worth more than $300 million. Today, he’s still sitting on the stock but it’s worth a mere $14 million. Ouch. But forget about throwing a pity party for Smulyan, 60, who founded the company 28 years ago, building it into one of the nation’s leading radio companies. “This company is what I love. I love Emmis,” he said. “I have no regrets.” Why did he…

Retiring baby boomers create openings for new grads

Students donning caps and gowns this May will find jobs aplenty, college career officers and others say. Some industries–like
health care, accounting, engineering, computer science and sales–are more flush with jobs than others. But students receiving
liberal arts degrees also are in high demand because of their well-rounded education.

HIGHWAY to HEALTH: Trucking firm Celadon drives down costs with innovative wellness plan

Truck drivers are accustomed to logging lots of miles on their 18-wheelers, but on their sneakers? They are at locally based Celadon Group, thanks to its “Highway 2 Health” wellness program the trucking firm launched in 2006. Prodding employees to lead healthier lifestyles is a way to help cut escalating health care costs. It’s a challenging task for any corporation, particularly for transporters whose workers are strewn throughout the country hauling freight on America’s highways. Sitting behind a wheel for…

SURF THIS: Digging the well now, or a yarn about … yarn

Back in the Dark Ages, before I started my company and before I was creative director at an advertising agency, I was a salesman. And my personality being what it is, I read a lot of books on sales. One of those that stood out was Harvey Mackay’s “Swim with the Sharks Without Being Eaten Alive,” in which he emphasizes “building your Rolodex.” Of course, not a lot of us use a traditional Rolodex anymore, but the basic tenet remains:…

EYE ON THE PIE: Subprime mortgages meet subprime plans

I’m a clipper. I clip articles from newspapers, newsletters, magazines and Web sites. For example, back on March 12, 2007, I clipped an article in which the U.S. Treasury’s undersecretary for domestic finance said, “We monitor the markets all the time, and are hopefully pretty aware of market conditions. It seems to us that the situation [in the subprime mortgage market] is a manageable one, that we’re watching.” That was a relief. Treasury is watching and they believe “the situation…

INVESTING: World’s response to woes likely to make them worse

From one end of the world to the other, governments are drawing a blueprint. They’re doing exactly what you would expect given the recent fall in global equities. If the past is any indication, they’re going to make matters worse. That means the best way to make a bundle over the next 12 months might be to short-sell stocks-in other words, to bet against the market. The current problems began in August when the subprime problem erupted onto the national…

Speedway shows popular on Joost Web network

Shows provided by IMS Productions, the video production arm of Indianapolis Motor Speedway, are among the top draws for Joost, a high-profile Internet provider of television content launched last October.

Technology park could boost area’s biomedical efforts: First phase of Purdue project, featuring accelerator building for up to 25 startups, should be finished this year

The park is expected to be a major amenity for the area’s growing biomedical economic development efforts. Purdue Research Foundation paid $2.5 million in June to purchase a half-interest in 78 acres at AmeriPlex industrial park. The university ultimately anticipates filling it with as many as 75 businesses and 1,500 jobs. AmeriPlex owner Holladay Properties, a South Bend developer of industrial parks, owns the other half of the site. Dubbed Purdue Accelerator Park at AmeriPlex-Indianapolis, the project is intended to…

Demand for adult day care rises with aging population: Joy’s House, other local facilities expecting growth

Joy’s House on Broad Ripple Avenue provides day care services for 23 people. Often at or near capacity, the not-for-profit is raising funds to build a $1.6 million addition that will quadruple its current size. The cramped quarters, where activities include shooting balls in pint-size basketball hoops, underscores the need for extra space. And the participants are not children; they’re adults-the parents of baby boomers who’ve been thrust into the role of care giver. Adult day care centers steadily are…

ECONOMIC ANALYSIS: From economic perspective, immigration bill misguided

Few issues garner as much vitriol as the debate over illegal immigration. The dimensions of the debate are wide-ranging, but as with most aspects of public policy, they are heavily influenced by economic issues. Indiana has embarked on an immigration debate, so a bit of economics might be helpful. First, according to the most reliable recent data, Indiana is underrepresented by illegal immigrants compared with neighboring states. I have seen estimates of immigrants in Indiana of between 45,000 to more…

Brightpoint aims to stay ahead of wireless pack: Phone distributor looks to focus on add-on devices

If Brightpoint Inc. wants to keep its place at the top of the cell phone distribution business, its leaders know they can’t expect to rest on their laurels. That’s why the Plainfield-based company hired mobile industry veteran Bashar Nejdawi to spearhead an effort to expand Brightpoint’s so-called mobile enhancement business, selling add-ons that enhance a phone’s functionality, such as hands-free devices, battery chargers, phone cases and software. The company already offers such accessories, but has not seen substantial success outside…

New use may boost Lilly drug: Cymbalta could be next treatment for controversial illness fibromyalgia

It could be another Prozac moment. Eli Lilly and Co. is pitching its next star antidepressant drug, Cymbalta, for approval to treat the poorly understood pain of fibromyalgia. Regulators OK’d a drug specifically for fibromyalgia for the first time in June. The approval of Pfizer Inc.’s Lyrica sparked hope in fibromyalgia patients and advocates that more doctors will come to understand and diagnose the tricky condition, now that they have a medicine to treat it. That’s what happened 20 years…

Lilly expects FDA approval of long-acting version of Zyprexa

Eli Lilly and Co. hopes to extend the life of its best-seller Zyprexa with a potentially lucrative, long-acting form of the antipsychotic drug. But first, the Indianapolis-based drugmaker must win over a panel of medical experts convened by the U.S. Food and Drug Administration on Feb. 6.

VOICES FROM THE INDUSTRY: More businesses can benefit from a doctor in the house

Fifty years ago, a sick or injured worker in a manufacturing plant did not have to leave work to get care-the worker simply went to the plant clinic and saw the company doctor. Today, the idea of the company clinic is making a come back, but with a new emphasis on wellness and prevention. health recommendations and concerns. In some cases, these routine visits can lead to the discovery of potentially serious conditions that might have otherwise gone unnoticed and…

RETURN ON TECHNOLOGY: Is technostress threatening your employees?

As I watched someone write an actual paper check in a checkout line one day, I saw one reason why a lot of companies have turnover problems. I pay for almost everything with cash or with plastic. Both are very fast, so when somebody is methodically writing out a check, it gives me just enough time to stew over how slow he is. When I use my card, I can swipe it with a practiced flick, tap a few keys,…

Throttling up for big job cuts at Rolls-Royce?: Local impact of international job reductions isn’t clear

The more than 4,000 employees at the region’s second-largest manufacturer are waiting to learn whether some will lose their jobs. Rolls-Royce Group PLC plans to cut up to 2,300 U.S. and European positions. The British aerospace company on Jan. 11 said it plans to slash its work force by almost 6 percent among managerial, professional and clerical ranks. It blames rising raw material costs and the declining value of the U.S. dollar. First-half 2007 profits of $600 million were roughly…

SPORTS: NFL retirees want to help banged up brethren

Before Bob Sanders, the last strong safety wearing a Colts uniform to achieve Pro Bowl status was Bruce Laird. Laird played from 1972 through 1981 for the Baltimore Colts, then closed out his career in 1983 with the San Diego Chargers. Like Sanders, Laird was known for “laying the wood” to opposing players. Translation: He was a hard hitter. These days, he still feels those tackles. “I felt great until I was 47, then, all of a sudden, nothing worked,”…

Dispute breaks out between Community, insurer

A contract dispute between health insurer UnitedHealthcare and hospital system Community Health Network could upset coverage for thousands of Hoosiers. The two organizations are still in “active negotiations” and are “optimistic that a mutually beneficial agreement can be reached,” according to a joint statement they issued late Friday afternoon. The statement said UnitedHealthcare’s contract with […]

Deal’s dead for race track

The deal to sell O’Reilly Raceway Park in Clermont is dead, and racing insiders said the opportunity to raise the local facility’s profile even higher might have died with it. Some within the racing community felt the suitor, a Santa…