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FAMILY BUSINESS: Who will protect your family, business when you’re gone?

No one is immortal, of course. When you are no longer able to do so, who will preserve your business and protect your family as you do today? There are two interrelated aspects to this simple question: Who will manage the business and who will be trustee of any trusts you may create for your family? A critical element of family businesssuccession planning is the selection and training of the next generation of managers. Can more than one child serve…

250 retailers express interest in midfield terminal space

Retailers and restaurateurs have flooded Indianapolis International Airport with letters-of-interest for space in the midfield
terminal, which is scheduled to open in late 2008. The demand is “more than five times” the number of concession spaces available,
airport managers say.

Braly gains prestige–fast

At the beginning of 2007, few people outside WellPoint Inc. had even heard of Angela Braly. Nine months later, Fortune magazine
named her the fourth most powerful woman in business.

SPORTS: An open letter to Greg, er Hizzoner, Mayor Ballard:

Well, the day is here when you finally get the keys to the offices on the 25th floor of the City-County Building. Congratulations. I knew you had the election in the bag all the way. Yeah, right. Anyway, I’ve noticed you have formed a number of transition teams to bring you up to speed on the various forms and functions of citycounty government. Folks way smarter than I have provided reams of information that will provide you a road map…

Developers have new plans for corner

The retail juggernaut at 86th Street and Keystone Avenue could get even stronger in the next several years. Locally based
Premier Properties USA Inc. revealed plans in 2007 for a $750 million redevelopment of a prime corner near The Fashion Mall
at Keystone.

EYE ON THE PIE: Tying up the loose ends of 2007

I prevailed on Evelyn Elkhorn to meet at the new Dunkin’ Donuts. “Doughnuts are both fattening and addictive,” she protested. “Doughnuts are delightful, and life should not be conducted as if its extension is its objective,” I insisted. She yielded, ordering a coffee and two over-sized doughnuts. As we found a convenient table, she asked, “What subject haven’t you covered this year that you wish you had?” That was a tough one. I am free to write what I wish….

Financial woes may keep Genesco purchase from crossing Finish Line

An acquisition that looked daring and bold when it was announced quickly blew up on Finish Line Inc. The Indianapolis retailer
agreed in June to buy Tennessee-based Genesco Inc.–parent of Journeys, Hat World and other mall chains–for $1.5 billion
in
cash.

LEGAL: Make the most of meetings by planning and following up

Meetings can motivate and inspire. Productive meetings draw the best ideas out of people. Bad meetings, however, suck the life out of attendees. While endless meetings are legendary in big companies, entrepreneurial businesses face simi lar challenges. Several times daily, somebody has the great idea to have a meeting. If you look at my calendar any Sunday night, you’ll see only a handful of meetings scheduled for the next week. But look back at the week on Friday night, and…

First Indiana sells bank

Indiana’s largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.

Of battles won and trouble ahead: Peterson says state action key to city’s future

Democrat Bart Peterson leaves office in early January after two terms as mayor of Indianapolis. Succeeding him will be Republican Greg Ballard, a former lieutenant colonel in the U.S. Marine Corps who parlayed property-tax outrage into a surprise win. As Peterson, 49, prepared to leave office, he sat down with IBJ. The following is an edited version of the interview. IBJ: You didn’t expect to be stepping down this year. What was the most significant priority you had planned for…

‘ Set the bar high’: LESSONS LEARNED KEVIN TEASLEY President, GEO Foundation CEO, 21st Century Charter Schools

KEVIN TEASLEY President, GEO Foundation CEO, 21st Century Charter Schools Kevin Teasley didn’t have clear-cut expectations when he and a small group of reform-minded dreamers opened 21st Century Charter School in 2002. The publicly funded-yet-independent schools were brand new in Indiana, and no one really knew what came next. Would 21st Century’s one-room schoolhouse approach draw talented teachers? Would students respond to a different kind of education? Organizers had high hopes, to be sure, but they operated more on instinct…

SMALL BUSINESS PROFILE: RIPPLE BAGEL & DELI LLC: Now for something completely different Retirees sell medical-supply firm, try deli business

SMALL BUSINESS PROFILE RIPPLE BAGEL & DELI LLC Now for something completely different Retirees sell medical-supply firm, try deli business Often, when retirees aren’t ready to really retire, they line up consulting gigs or take a part-time job in their industry. When Ken and Susan Richman sold their locally based medical-supply distribution business, Fulfillment Plus, to employees in 2002, they decided to start a business in an entirely new industry-one known for a high failure rate. The Richmans had no…

THE TRAVELING LIFE: Genghis Khan slept-and was admired-here

Before we landed at the Genghis Khan Airport, checked into the Genghis Khan Hotel, and drank Genghis Khan beer, everything we had heard about the most famous Mongol of all time was negative. But that changed when we visited Mongolia in September. You might wonder what nice things could be said about a guy who conquered more territory in 25 years than the Romans did in 400? Well, the people we encountered perceived him as a combination of George Washington,…

Taurel passes the baton

A new leader will guide the city’s largest company in 2008, with some of the biggest challenges in its history on the horizon.
Eli Lilly and Co. announced Dec. 18 that CEO Sidney Taurel will step down March 31 and will be replaced by President John
C. Lechleiter, who has been the heir apparent for more than two years.

INVESTING: Look to battered sectors for bargain investments

This was a puzzling year for investors. It began with ample lowcost money available to borrowers and record-low volatility across markets. It will end with a credit crunch hobbling financial firms and a market punctuated by volatile spurts. And yet despite this significant shift in market character, the major averages will end the year with modest positive gains. The year began with a sort of benign complacency for investors, as stocks had been on a smooth upward trajectory since the…

Commentary: Solitaire hangman at the movies

Ihope you enjoy this puzzle based upon an idea I found in Games magazine. The challenge is to guess the titles of the films made at least in part in Indiana before being “hanged.” The number of words in the title and the release dates appear in parentheses. To begin, choose any letter of the alphabet you think might be in Title I below. Suppose you pick “E”. Go to the letter chart on page 12 and find the number…

Property tax crisis deals Indiana a blow

Many called it “the perfect storm.” But in retrospect, the dark clouds of Indiana’s 2007 property tax crisis had been forming
for years. Legislators caught wind early that something was amiss and spent all spring preparing to weather the impact.

ECONOMIC ANALYSIS: Indiana’s economy: The fundamentals are in place

Predicting the size and scope of economic activity for the nation, state and region is one of the more important roles played by university economists. But 2008 is the kind of year that really tests economic forecasting. The Bureau of Business Research just released its forecasts for Indiana and two regional labor markets. In total, we examined eight different data series and have stressed the performance of net employment and wages. Our forecast is fairly optimistic. We predict job growth…

Ballard pulls off long-shot campaign, defeats Peterson

In early 2007, many expected Marion County Republicans to punt on the chance to unseat Democratic Mayor Bart Peterson. After
all, the two-term incumbent had high approval ratings and a campaign war chest of $2.5 million. Attractive GOP candidates
willing to embrace the challenge were in short supply.

VIEWPOINT: Why Anderson lured me from Florida

Baby boomers have five more years, 10, 15-then it’s time to enjoy retirement. Except that we keep buying everm o r e – ex p e n s ive houses. What will happen when the paychecks stop? Facing this, I reassessed my situation in Florida. In two years, my taxes there tripled; insurance, doubled. An affordable mortgage didn’t offset increases from the state and my friendly insurance company. To stay viable, I had to leave. Where to go? I figured…