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Smaller banks seeking relief: Legislation takes on costly regulatory costs

German American Bancorp in Jasper has spent more than $1 million the past two years complying with the stringent accounting provisions of the Sarbanes-Oxley Act. The cost alone is reason enough for the community bank’s president and CEO, Mark Schroeder, to support a measure exempting smaller public companies such as his from Section 404 of the act. He even traveled to Washington, D.C., May 3 to testify in front of the U.S. House of Representatives Small Business Committee. “Ultimately, this…

INVESTING: Dow keeps climbing, but land mines abound

The theme I’ve been concentrating on-the Dow Jones industrial average’s climb toward a new all-time high at the same time large numbers of stocks are weakening-is playing out in dramatic fashion. The Dow is only 150 points away from a new high, and it may well reach it. What’s working is obvious now (energy, metals, industrials), and I say, ‘Stay with them until they break down.’ But there is a growing portion of the market that is giving people fits,…

NOTIONS Bruce Hetrick: Readers share insights on the elusive ‘one thing’

In the movie “City Slickers,” Billy Crystal plays a fellow in midlife crisis. He escapes to a guest ranch, where he meets Jack Palance as a wisdom-dishing cowboy. On horseback one day, Palance asks, “Do you know what the secret of life is?” “No, what?” Crystal asks. Palance holds up his gloved index finger and says, “This.” Crystal says, “Your finger?” Palance says, “One thing. Just one thing. You stick to that and everything else don’t mean #*@%.” Crystal says,…

CHRIS KATTERJOHN Commentary: Now we have a plan-let’s use it

For years, Indiana politicians-at least the smart ones-have talked about the importance of economic growth and development, and behind the scenes business leaders have replied, “Duh. How about coming up with some kind of plan?” This was always a hot button for Dave Goodrich, retired real estate executive and former head of Central Indiana Corporate Partnership. In his days at CICP, Goodrich would bend the ear of anyone willing to listen about the need for a plan. Well, how does…

BEHIND THE NEWS: Smulyan has dual roles, complicating buyout bid

The most interesting line in the press release announcing Jeff Smulyan’s proposal to buy out other Emmis Communications Corp. shareholders and take the company private didn’t appear until the second page. “[Smulyan] advised Emmis’ board that [he] will not agree to any other transaction involving Emmis or his shares of Emmis,” the statement read. The unequivocal message to buyout firms and rival radio companies: Don’t bother making a bid to buy my company. If you do, you’re wasting your time….

RETURN ON TECHNOLOGY: Does your Web site need an SEO to boost it up?

Every time I see the term “SEO,” I cringe a little. It stands for “searchengine optimization,” a supposed service offered by many “SEO companies.” Such companies claim to be able to boost your Web site up the pages of major search engines so customers can find you. To a limited extent, they can help. Most Web sites are so poorly designed that they almost defy search engines to look through them, a process known in the trade as “crawling.” The…

CD-burning kiosks debut: Four years of work on the line for local media-technology company

As the after-work rush of customers came into a south-side Karma music store on a recent Wednesday, some wandered up to a new kiosk and gave it a whirl. It was the public’s first look at CD-burning technology, developed by local entrepreneurs, that allows customers to pick songs and immediately burn a CD mix before leaving the store. If consumers like the kiosks, backers hope to sell video games, movies and even concert tickets through the terminals, which could be…

Jackson Press makes $3 million investment: German-imported UV press puts firm in rare company

At a time when many commercial printers are proceeding cautiously through a slow recovery, Indianapolis-based Jackson Press Inc. is investing $3 million in its future. Jackson Press on May 1 completed installation of a new German-imported press with digital work flow and a UV lamp system, which allows ink to dry quicker and with more clarity than on a traditional press. “This press gives us much more flexibility, with the ability to print on plastics and other substrates,” said Jackson…

EYE ON THE PIE: Sometimes competition is a bad thing

You are getting older, living alone. You want to continue living where you are. You don’t want to move in with your children and you think they might not want you. You don’t want to move to some assisted-living place and give up so much of what you have known for so long. You are disabled or otherwise unable to cook for yourself. Where do you turn? Your first thought is Meals on Wheels. You (or a member of your…

Merger talks near finish?: George optimistic about open-wheel reunion; sources say deal may be reached by May 26

Indy Racing League President Tony George said earlier this year “the stars, moons and planets” would need to align for his series to merge with open-wheel rival Champ Car in time for the 2007 season. According to motorsports sources, the alignment appears to be happening, and George told IBJ he is cautiously optimistic. George said in a May 3 interview that discussions with Champ Car principal Kevin Kalkhoven are ongoing, but that there are still a number of issues to…

Daniels’ economic development plan calls for pricey tools: Three incentive funds would cost more than $100M

Indiana’s days of economic development on the cheap may soon be finished. Three major new business-incentive funds are on the Indiana Economic Development Corp.’s wish list, each bearing a significant price tag. The General Assembly will decide next year whether to provide the more than $100 million IEDC requests to form them. Plans for the three funds are tucked into Gov. Mitch Daniels’ comprehensive new state economic development plan, “Accelerating Growth,” released April 25. It aims to bring Hoosiers’ lagging…

NOTIONS: Readers weigh in on the quest for ‘something more’

Two weeks ago, I asked readers whether they’d witnessed what I have: More and more folks wanting “something more” from life and work. And if so, why? And why now? And how might “something more” manifest itself? Many responded-so many that I’ll share this week some of the “whethers” and “whys” and next week some of the “hows.” I heard from several readers who’ve dealt with this issue professionally. An Indianapolis placement consultant said, “I talk to people every day,…

BEHIND THE NEWS: California investor arrives with a splash-and a past

Remember the name Judah Hertz. The Californiabased real estate investor last month became a sizable player in the downtown Indianapolis office market, buying the Gold Building and 251 East Ohio for more than $40 million. But he has bigger aspirations here-and the cash to carry them out. “We like Indianapolis a lot,” Hertz said. “We’re definitely interested in purchasing more buildings in Indianapolis.” Plain-vanilla pension funds buy and sell buildings here all the time. By contrast, the 56-year-old Hertz is…

Colleges tweak study-abroad programs: As student participation rises, schools make changes to offset loss of tuition

The University of Indianapolis used to forfeit thousands of dollars in tuition from students studying abroad in the shadows of the Acropolis in ancient Greece. That is no longer an issue, however, because U of I assumed full ownership of its branch campus in Athens two years ago from separate management that previously received tuition from students spending a semester there. “That’s one way we can cut back on the loss, because they’re still enrolled with us,” said Mimi Chase,…

Former Lilly exec to head CoLucid: White leaves Boston firm to return to Indiana

CoLucid Pharmaceuticals Inc., a drug development company Eli Lilly and Co. spun out last year, has attracted Jim White as its first CEO. White was a longtime Lilly executive before spending the past five years in Boston helping grow Hypnion Inc., another pharmaceutical startup that so far has attracted $80 million from venture capitalists. “We have a lot of great talent in the state that leaves because we haven’t had the kind of jobs to retain those folks,” White said….

Biz incubator out of room: IU Emerging Tech Center needs $20M or more for expansion

In its quest to develop high-tech startups, Indianapolis has established a healthy pipeline. But there’s a bottleneck that’s poised to become even more congested. Located at the head of the Central Canal, Indiana University’s Emerging Technologies Center is the city’s primary business incubator, chock-full of labs and equipment. Established in 2003, the 62,500-square-foot building is now crowded with 26 promising young firms. A handful have outgrown their space, and are on the cusp of “graduation.” IUETC CEO Mark Long reports…

Special events pay off: Growth seen in career opportunities, event numbers

Special events aren’t just fun and games-they’re big business, generating careers and economic activity that are anything but frivolous. Special event spending in Indianapolis is nearly $3 billion a year, according to Bob Shultz, public relations director for the Indiana Convention & Visitors Association. Annual spending for special events worldwide is $500 billion, according to research conducted by the Chicago-based International Special Events Society. In Money Magazine’s annual “Best Jobs in America” survey, meeting and convention planners were ranked in…

INVESTING: Rising rhetoric over oil prices is cause for worry

We all want more energy. Every time we go to the grocery store, we get bombarded with rows of new energy drinks. Health professionals are telling us things we can do to increase our energy. And we don’t just want more of it for our bodies. Our SUVs need more. Our homes need more. And China needs more. The delicate problem we’ve helped develop has in large part been created by rising demand for energy in places like China and…

ECONOMIC ANALYSIS: A primer on understanding the mystery of gas prices

You usually don’t get a lot of space when you write a letter to the editor of your local newspaper. So when I’ve read those despairing cries of outrage and mystification at the behavior of gas prices recently, I have managed to resist the urge to respond in kind. Explaining energy prices-or any price, for that matter-isn’t quite as hard as hitting a curve ball in baseball, but both explanations take more than the 3 or 4 inches of column…