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Group led by John Salley files counterclaim in ABA case: Court battle could imperil future of fledgling league

Both sides in a contentious battle for control of the locally based American Basketball Association have agreed to play ball in out-of-court settlement talks. The two sides agreed to negotiate only after a trio of investors, led by former National Basketball Association all-pro John Salley, fired another shot at league co-founders Joe Newman and Richard Tinkham, both Indianapolis entrepreneurs. A District Court judge in Marion County gave the sides until March 26 to work out their differences. A hearing is…

Could big year mean IPO for Aprimo?: Analyst expects software firm to go public in near future, but company execs aren’t ready to discuss possibility

Last year was a good one for fast-growing local marketing software-maker Aprimo Inc. And this year could be even better. “It’s not the beginning of the end; it’s the end of the beginning,” said Aprimo investor Mark Koulogeorge, managing general partner of the Chicago-based venture capital firm MK Capital. “This is the second or third inning of a very long ballgame.” In 2006, Aprimo quietly grew from about 220 to 300 employees and moved into a new headquarters just east…

EYE ON THE PIE: What’s wrong with property taxes?

So much is going on in the Indiana General Assembly that it makes my head spin, which makes me dizzy and unfit for driving safely on the roads. That, plus the recent heavy snows, has made me a hermit. To re-enter society, I called Dr. Werner von Fizzle, the only psychologist I know who provides at-home consultations. As he sat down, Dr. von F asked, “Do you have some tonic vater?” I nodded and rose to fill his request. “And,”…

RETURN ON TECHNOLOGY: Battle brewing between big business and the Web

The Web has always been viewed with suspicion by many people, but now it’s become nothing less than the cause of copyright lawsuits against Ellen DeGeneres for letting a guest dance the Electric Slide, against the Girl Scouts for doing the Macarena a satire Web site about Barney the purple dinosaur for making fun of the big guy, and against the online deal-finder site Black Friday for publishing prices from retailer Best Buy. Back in the old days, copyright holders…

VOICES FROM THE INDUSTRY: Electronic evidence a new reality in business litigation

D o u b l e – c l i c k , open, read and delete. Does this sequence for reading e-mail look familiar? Whether you work for a small- to medium-size business with few employees and a basic network of computers or part of a large corporation with its own technology department, if your company is electronic forms of communications, so has electronic evidence become a regular part of most business litigation. Not long ago, if your business…

Broker wants Lucas Oil to move HQ near airport

Marvin Miller is representing a landowner trying to sell 125 acres just north of Indianapolis International Airport. But Miller
wants him to give away some of the property to persuade California-based Lucas Oil to move its headquarters there, jump-starting
the stagnant area in the process.

Please pass the popcorn – and the cash: Not-for-profits hope film encourages more donations

But can a movie to be released March 9, “The Ultimate Gift,” inspire the masses to give money to charitable groups? Not-for-profits hope so, although the idea that an emotion-driven Hollywood film can translate into a thoughtful and deliberate giving plan remains to be seen. “Donor education is a very difficult thing to get done. This may be a good start,” said Gene Tempel, executive director of the IU Center on Philanthropy. The movie is based on the book of…

Lilly vacating 99,000 square feet in 30 S. Meridian building

Eli Lilly and Co. has decided to vacate 99,000 square feet of office space at 30 S. Meridian St. in yet another blow to the
struggling downtown market. Roughly 1.8 million square feet of space already is sitting idle downtown, putting downward pressure
on rents.

DST changes may create time trials: An extended schedule threatens calendars on electronic devices

It must seem like déjá vu to Hoosier companies who again must prepare their computer networks for the confusion caused by daylight-saving time. Indiana’s first-ever switch to DST last year triggered a mass adjustment of electronic clocks essential for computers and other devices to spring ahead with the rest of the world. Now the ritual must be repeated, due to a 2005 federal law decreeing that DST start three weeks earlier and end one week later, beginning this year. The…

ECONOMIC ANALYSIS: How consumers respond when paper profits vanish

Most market sages know it already, but there is always a new generation of investors that needs to relearn the lesson taught by this latest financial market volatility. Namely, that paper wealth is subject to change. Turning your financial wealth into something else of value-like a house, or a car, or even a bond-always contains an element of uncertainty. If you want to take it literally, more than a trillion dollars of wealth was wiped out in the first five…

CHRIS KATTERJOHN Commentary: IMA art park is a grand slam

Lest we overlook it among the rash of crimes, stock-market gyrations and General Assembly shenanigans reported in the media recently, the Indianapolis Museum of Art deserves some major kudos. Amid the chaos, the IMA announced the names of the 10 artists, artists’ groups and architects who will create works for its Virginia B. Fairbanks Art & Nature Park set to open in 2009. It was a grand slam. Unveiled in New York Feb. 27, the list includes individuals or collectives…

Doctor grows magazine with unusual strategy: Circulation hits 100,000 nationally and still climbing

A Carmel-based doctor turned publisher is celebrating his magazine’s first anniversary by rolling out plans to take his publishing and health care businesses nationwide. Radius magazine is poised for rapid growth due to its “no fluff” content, according to its founder, Dev Brar, who founded Carmel-based Nightingale Home Healthcare in 1996. Both businesses are operating out of a new headquarters at 1036 S. Rangeline Road, and Brar is hoping the two will grow hand-in-hand. Brar is using Radius to market…

Commentary: If they can’t teach ’em, let’s sue ’em!

I have always been a big believer in education. It’s something I got from my parents. They told me that, since I wasn’t born into money and had no athletic ability, I better get a good education if I wanted to improve my chances of being successful in life. I’ve been very fortunate that the teachers I’ve had over the years, from my public grade and high schools in Chicago to graduate school to law school, have been awesome. In…

Honda seat maker might create 900 jobs

TS Tech North America might create 900 jobs in New Castle as it ramps up to supply seats to the Honda Motor Co. auto assembly plant at Greensburg, according to New Castle Mayor Tom Nipp. The Japanese company will hire 500 jobs with its first shift, then add 350 workers through a second shift. Ultimately, […]

West Lafayette research firm plans to add 130 jobs

Med Institute Inc., a medical research company in Purdue Research Park, is asking for tax abatements from the West Lafayette Economic Development Commission on $15 million in equipment in order to add 130 positions to the 130 it now has. The jobs would be created over several years, according to the Journal & Courier of […]

Republic Airways dishes out raises to top execs

Indianapolis-based Republic Airways Holdings Inc. has renewed employment contracts with its three top executives and sweetened their compensation. Salary and minimum bonus for CEO and Chairman Bryan Bedford increased to $787,500 from $510,000. His minimum bonus nearly doubled, to $337,500. Bedford’s contract, which was to expire in July, now extends through June 2008. Smaller boosts […]

Steel Dynamics proceeds with iron project

Steel Dynamics Inc. and Kobe Steel of Japan plan to build a plant in northern Minnesota to make iron nuggets that burn more efficiently in steel electric arc furnaces than traditional pig iron. The Fort Wayne steelmaker started anew after negotiations on the project with other steel companies sputtered in November. The $235 million project, […]

Las Vegas investor could control Standard Management

A Las Vegas investor has injected $300,000 into Standard Management Corp. by buying 3 million shares, according to the Indianapolis company, which sells pharmaceuticals to the long-term care industry. Sam Schmidt and other investors agreed to buy another 17 millions shares if certain collateral conditions are met related to a $2.5 million loan Schmidt made […]

UPDATE: State fields flurry of Payton Wells complaints

Four complaints have been filed with the Indiana Attorney General’s Office against car dealer Payton Wells since he padlocked his three dealerships in late January. The number is a flurry compared to his record in recent years of only occasional complaints. Wells abruptly closed his Chevrolet dealership at 1510 N. Meridian St. and his Chrysler […]

Steel Dynamics to expand Pittsboro production

Fort Wayne steelmaker Steel Dynamics Inc. said today it will invest $35 million to boost production of steel bars at its recycling mill at Pittsboro west of Indianapolis. The “debottlenecking” will increase production 45 percent, to 750,000 tons a year. However, the company wasn’t certain whether employment would climb much beyond the 350 now working […]