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Dispute clouds Sky buyout of Union Federal

Union Federal Bank’s Fort Wayne-based parent is locked in a dispute that could put in peril the Indianapolis financial institution’s $330 million sale to Bowling Green, Ohio-based Sky Financial Group Inc.

BIZ BASICS: Use new savings accounts to cover medical expenses

And with no end in sight to the cost crunch, the prognosis is poor. Panicked business owners now cite the rising cost of health insurance as their top concern. They know that workers value their medical coverage, but as owners they feel trapped-they must either pass along rate hikes or cut benefits entirely. A relatively new health plan option offers hope. Health savings accounts work in IRA-like fashion to cover out-ofpocket medical costs with tax-sheltered money. An HSA is an…

NOTIONS: A suburban pay-me-now-or-pay-me-later story

Longer ago than I’d like to admit, my parents were expecting their first child (me). And they wanted their little guy to grow up in a nice, safe neighborhood. Mom and Dad weren’t earning much. But they borrowed a down payment from Grandpa, took out a whopping $80-per-month mortgage, and purchased a tiny, newly constructed house on the outskirts of Lafayette. My parents had grown up in the established parts of Lafayette. They knew well the old homes, old streets…

BEHIND THE NEWS: Heiress to be out of sight when judge decides fate

Attorneys will gather in a Marion County courtroom Aug. 7 to ask a judge to appoint personal guardians for Ruth Lilly. They’ll argue that she’s incapacitated and incapable of making decisions for herself. It’s one of the most pivotal moments in the life of the heir to the pharmaceutical fortune, who turns 91 Aug. 2. But court records indicate she won’t be present. That’s perhaps fitting. The sole surviving greatgrandchild of the pharmaceutical firm’s founder has led a reclusive life,…

IUPUI’s tourism department luring hundreds of students: City’s convention industry, program’s focus on meeting planning make department fastest growing on campus

After Kelly Sernau earned an associate in arts degree in hospitality at Michigan State University, she began researching schools that offered a bachelor’s degree in the field. She considered staying in her home state, then researched schools in Chicago and other places. Ultimately, she opted to transfer to IUPUI’s Department of Tourism, Conventions and Event Management within the School of Physical Education and Tourism Management. “I wanted to focus on meeting planning, [but] most programs focus on the hotel aspect…

Farming for tourists on the rise: Wine trails find followers

Whether you prefer a Chardonnay or Merlot, or you’re simply trying to recall the opening lyrics to “Scenes From an Italian Restaurant,” one thing is certain: Indiana wineries are hardly withering on the vine. The Hoosier State now boasts 32 wineries and should add two more by the end of fall, according to the Indiana Wine Grape Council at Purdue University. Moreover, the winemakers are helping drive the state’s fledgling agri-tourism efforts. “Nobody wants to tour a hog farm, but…

Moving lessons from classrooms to boardrooms: MBA students get firsthand experience with startups

No matter how many bold and italicized words scholars cram into textbooks, nothing compares to students rolling up their sleeves and testing a theory themselves. For years, Indiana University’s Kelley School of Business has offered its Bloomington MBA candidates real-world experience through so-called “academies” focused on specific industries. Now Kelley Indianapolis’ evening MBA program is set to launch a scaled-back version for its students. This fall, it will offer three such “enterprise” programs, including one with an entrepreneurial emphasis. The…

Restaurant at Canterbury takes new dining direction: Hotel hires food veteran Emerson to lead expansion

The historic Canterbury Hotel has hosted its share of celebrities. Robert Duvall, Michael Jackson and Mike Tyson are among the most famous or, in some instances, infamous. But the downtown hotel may be more elated to welcome back Daniel Emerson, a veteran of the local hospitality industry who is a star in his own right to the guests he pampers with his trademark flair. Emerson, 50, returned to the Canterbury on South Illinois Street July 24 as its food and…

INVESTING: Here’s what I’d say if strategist Abby Cohen came by

Abby Joseph Cohen, chief equity strategist at Goldman Sachs, stopped by my office last week after a brief stint on CNBC. I took advantage of the opportunity and sat her down for a good, oldfashioned interview. This is a rare treat, so let’s enjoy, tongue planted firmly in cheek. HAUKE: Abby, thank you for paying us a visit. You have climbed to the peak of Wall Street and it is an honor to speak with you. COHEN: Well, I am…

FAMILY BUSINESS: Reorganize family business to treat all children fairly

Many family-business owners have children who work with them in the business as well as children who do not. The challenge they face is simply put: How can they treat fairly those children who will not inherit the business? There may not be enough non-business assets to give to the children who don’t work in the business. Life insurance, payable to the non-business children, is sometimes suggested, if the business owner is insurable and the premiums are affordable. Some estate…

VIEWPOINT: Indiana ripe for new breed of auto industry

Landing the Honda plant is a great coup for Indiana. Gov. Mitch Daniels deserves congratulations. Not only will Honda employ an estimated 2,000 Hoosiers, it appears the governor secured the facility at a bargain price for Indiana’s taxpayers. While the plant brings much-needed employment, future wealth created from Honda’s production accrues to its primarily Japanese shareholders. This is only fair, as Japanese automakers have innovated, invested and expanded over the past 30 years. They have earned their success and deserve…

Republic Airways expects to add at least 1,000 jobs in 2007

Republic Airways Holdings plans to add more than 1,000 jobs, including some at its Indianapolis headquarters, thanks to a deal to fly larger aircraft for US Airways and its first contract to fly for Continental Airlines.

Ethanol backer harvesting investors: Cardinal, others see biofuel potential, while skeptics see risk 982 1372 1071 1392IBJ’s Life Sciences & Biotech Magazine looks at the future of biofuel production in Indiana. SECTIONB

IBJ’s Life Sciences & Biotech Magazine looks at the future of biofuel production in Indiana. SECTIONBDuring one day this month, Randolph County farmer Troy Prescott drove hundreds of miles to visit three western Ohio towns-gladhanding potential backers gathered at a VFW hall, an armory and a restaurant. And just a few days ago, in Fishers, he spelled out his vision to more than 50 people, some wearing suspenders and down-on-the-farm twangs. Prescott isn’t running for Congress, but his 25-city road…

SMALL BUSINESS PROFILE: JP PARKER CO.: Business blooming for specialty florist Flower farm, retail shop feed green thumb’s growth

SMALL BUSINESS PROFILE JP PARKER CO. Business blooming for specialty florist Flower farm, retail shop feed green thumb’s growth More than 300,000 sunflowers are in various stages of growth on Needham, Ind., farmland, where a third generation carries on the family tradition with a modern twist. These tall summer annuals follow a spring where 1,000 blooming peony plants yielded at least 11,000 stems for a Chicago broker. Smaller plots of delphiniums, larkspur, zinnias, coneflowers, mints, herbs and other greenery also…

TAWN PARENT Commentary: In defense of daydreaming

In addition to standbys like Little League and Girl Scouts, our children have the opportunity to learn sailing at Geist Reservoir, strut their stuff at the Jewish Community Center’s Broadway camp, or try medieval fantasy drawing at the Indianapolis Art Center. With such an appetizing array of choices, it’s hard to resist serving our kids a heaping plateful. Most of us want to give our children advantages we were not afforded, and “Mixed Media for Preschoolers” certainly qualifies. Besides, who…

Speedway’s first cycling race draws national attention: Lance Armstrong-backed event could go annual

The Race 2 Replace bicycle race at the Indianapolis Motor Speedway at first appeared to be just another local fund-raiser. Now, the Lance Armstrong-backed event put on by the professional cycling team he co-owns appears to be rolling up enough momentum to have a significant economic impact on Indianapolis. IMS President Joie Chitwood is calling the Aug. 12 race a “historic day at the track.” Race 2 Replace promoters said the IMS’ first-ever bicycle race is poised to become an…

Indiana encourages agri-tourism efforts:

For Cliff Carley, Sept. 11, 2001, is a date of great personal significance unrelated to tragic events. That’s the day the construction company owner bought a pair of Rocky Mountain elk and began raising the large deer on his northern Hamilton County property near Atlanta. Nearly five years later, Carley Elk Farm hosts Saturday tours for which visitors pay $5 to roam the rural acreage and help feed a herd that numbers about 50. On the way home, they can…