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State springs for beefed-up tourism campaign: Early study shows “Restart your Engines” works

When the state kicks off its spring tourism ad campaign April 22, it will have a little more staying power thanks to a 38-percent surge in spending. The increase, made possible by cutting back in other areas, means a total of $550,000 will be spent on TV, radio and magazine ads targeted not only at neighbors in Chicago and Cincinnati but also Hoosiers from Evansville to South Bend. “We thought it was really important to put more money into that…

Carmel to get $30M Renaissance hotel

A prestigious, full-service hotel soon will complement Carmel’s booming office market along North Meridian Street. A Cincinnati
developer broke ground this month on a roughly $30 million Renaissance hotel with 263 rooms and 14,000 square feet of meeting
space.

Storied luxury Canterbury hotel may sell

The stately 12-story Canterbury Hotel could use a renovation, hospitality analysts say, to restore some luster and help it
take on more modern competitors. Such an overhaul might be on the way, along with new owners for the independent boutique
hotel at 123 S. Illinois St.

Eli Lilly looks to ease shareholders’ concerns: Zyprexa questions persist at annual investor meeting

It hasn’t been easy the last few years to be a shareholder of Eli Lilly and Co. Lilly’s stock price has languished as the company’s vaunted drug pipeline has suffered hiccups and as legal troubles over its best-selling drug, Zyprexa, have lingered. So as Lilly shareholders gather April 16 for their annual meeting, two key questions hang in the air. Both center on Zyprexa, an anti-schizophrenia drug, which accounts for one-quarter of Lilly’s revenue and even more of its profit….

STATEHOUSE DISPATCH: Negotiating blitz to bring legislative session to close

For those who thought this had been a fairly boring session of the Indiana General Assembly to date, wake up from your deep slumber. Nap time is over. We’ve reached the point where the lowhanging fruit has been picked by lawmakers and passed on to the governor, and the heavy lifting remains. Lawmakers embark upon the conference committee stage of deliberations. To understand conference committee time, forget all your conceptions to date about the session and begin with a clean…

NOTIONS: Job-seeking 101: Most applicants don’t pass course

Every few years about this time, I offer free job-seeking advice for collegians. Judging from the resumes deluging my company, it’s time to hum this tune again. The first line of the first song in the musical comedy “How to Succeed in Business Without Really Trying” is “How to apply for a job.” That’s also the name of a course I’ve long proposed to colleges and universities. While more colleges are doing that, there’s a frequent flaw: waiting until the…

VIEWPOINT: Cultivate your young talent for success

When was the last time you gave someone a break? I don’t mean the last time you stopped your car to let a convention attendee safely cross the street. Think back to the last time you made a difference in someone’s career-a young person’s career. The truth is, you probably manage at least one younger employee who is eager for a break, a promotion or a little more autonomy. Maybe you tried to give your up-and-comer a project to run…

BEHIND THE NEWS: Few signs of endowment’s diversification yet

It’s a rite of spring. The annual arrival of Lilly Endowment Inc.’s annual report provides a rare glimpse into the operations of the secretive-butsuper-powerful Indianapolis-based foundation. This year, there’s more anticipation than usual. Beyond the listings of who received the hundreds of millions of dollars in grants the endowment passed out last year, the report-due to be released by the end of this month-also will show where the endowment invests its $7 billion in assets. Until now, that part of…

Relax, you better get used to it-it’s only globalization: VOICES FROM THE INDUSTRY

Globalization, like all sweeping economic trends, provokes a widespread disquiet. Specifically, we fear that somehow, if it continues unchecked, people in the United States will lose their high-paying jobs and we will devolve into a lowwage service economy. As China gains, we lose. To borrow a phrase from Thomas Friedman, they’re frightened that the flattening of the world economy will flatten us. It is true that traditional manufacturing jobs are fewer now than before. And, lots of things are made…

Fred Glass brings city’s ‘to do’ list to life

Fred Glass, president of the city's Capital Improvement Board, headed historic transitions in both the mayor’s and governor’s
offices and has become the go-to guy for some of the city’s biggest initiatives, most of them sports-related.

Competition drives hospital chief: Lennen labors to grow hospital, county to stay ahead of Indianapolis peers

Competitive. That’s how Shelbyville community leaders describe Tony Lennen. Indeed. Any CEO of the city’s Major Hospital needs to be. Shelby County residents can, in just 20 to 45 minutes, drive up Interstate 74 or Interstate 65 to any of Indianapolis’ large hospitals, many of which boast massive marketing budgets and stables of specialists. But in nearly 14 years at the helm of Major Hospital, Lennen has found creative ways to boost profits, enhance technology, woo specialists and even-through aggressive…

Overseas strategy has Hurco roaring back: Local manufacturer sells most of its products abroad

Even with the U.S. auto industry under pressure and the North American manufacturing market experiencing relatively slow expansion, Indianapolis-based Hurco Cos. Inc. is on a tear. The maker of metal- and machine-cutting tools and software has stayed ahead of the curve by growing aggressively overseas while keeping a lid on expansion costs. That double feat is easier said than done, said Ananth Iyer, professor of operations management at Purdue University and director of the Dauch Center for the Management of…

INVESTING: Embattled Emmis may provide short-term opportunity

It’s been more than five years since I (accurately) predicted that satellite radio would be a major problem for traditional radio. And while I got no love for that call back then, I am going to step back to the lonely side of the street with this call: Terrestrial radio will take a long time to die, and in the short term there may be money to be made. The radio industry (both from the sky and the ground) is…

Hasten brothers commit to funding Jewish students

Hart and Mark Hasten, who sold Kokomo-based First National Bank & Trust in January to Harris Bankcorp Inc. of Chicago, have given a grant to Hasten Hebrew Academy that paves the way for more low-income students to attend the school. Some families didn’t qualify for assistance programs already in place or were reluctant to disclose […]

Indianapolis-area home sales dip nearly 9 percent

Pended sales of existing single-family homes and condominiums in the nine-county Indianapolis area fell 8.9 percent in March from the same month last year, F.C. Tucker Co. said today. The sale of 2,763 units was a set-back due to lingering wintry weather in February, said the brokerage, which bases its report on Metropolitan Indianapolis Board […]

Escalade announces interim CEO, less profit

Evansville-based sporting goods maker Escalade Inc. today announced that CFO Terry Frandsen will serve as interim CEO following the sudden April 9 death of CEO Daniel Messmer. Frandsen also will continue serving as CFO. The company has begun a search for Messmer’s permanent replacement. Escalade also reported $1.1 million in profit for the quarter ended […]

Mortgage woes clip Irwin Financial

A troubled mortgage market and a charge-off from a bad loan in Michigan likely will result in a $5 million-$10 million first-quarter loss for Irwin Financial Corp, the Columbus company said today. The quality of the bank holding company’s traditional mortgage business remains strong, but it said turmoil in the secondary market likely will lead […]

Glicks to donate $30 million to IU medical school.

Apartment-builder Gene Glick and his wife Marilyn will give $30 million to found an eye institute at the Indiana University School of Medicine, the school announced this morning. Two-thirds of the money will pay for a new building to house the Eugene and Marilyn Glick Eye Institute. The remainder will fund research on eye diseases, […]

Sallie Mae eyed by private equity buyer, report says.

The New York buyout firm Blackstone Group might offer $20 billion to take over the parent of student loan provider Sallie Mae, The New York Times reported this morning. Sallie Mae, which is owned by Reston, Va.-based SLM Corp., operates a loan processing center in Fishers and has a new loan-collection service in Muncie that […]

Dow AgroSciences parent might become takeover target

Dow Chemical Co. CEO Andrew Liveris said this week that he doesn’t want to sell the Midland, Mich., company. But that doesn’t mean private equity firms eyeing Dow won’t return with hostile offers, according to a Bloomberg report. The parent of Indianapolis-based Dow AgroSciences fired Executive Vice President Romeo Kreinberg and J. Pedro Reinhard, a […]