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Enron might be resolved, but don’t forget its lessons BULLS & BEARS:

Last week brought news of both triumph and despair from the field of corporate governance. In the win column: Justice was served in the Enron trial, with convictions of two leaders who presided over one of the largest corporate frauds in history. The trial exposed a company where arrogance guided a series of reckless business judgments. Enron marked an era when the focus was on marketing a company’s image and turning executives into stars who were rewarded with lavish pay…

2005 sees another drop in health insurance complaints: Regulators work to refine method for tracking problems

Complaint totals sank steeply last year for many Indiana health insurers, partly because the state insurance department continues to revamp its often-maligned method of tracking them. Regulators recorded 1,232 signed complaints last year, a 30-percent drop from 2004, according to figures published on the consumer section of the Indiana Department of Insurance Web site. The drop from earlier years is even steeper. The department recorded 3,133 complaints in 2002 and 1,848 the next year. Many of Indiana’s largest insurers also…

EYE ON THE PIE: Want a larger slice? Get a bigger pie

How much should an executive be paid? More or less than a professional athlete? How much medical care is a person entitled to receive? Does that depend on his or her age or the genetic code that she or he carries? We love to agonize over these questions. To the pure of spirit, all people are worth the same. To the pure of thought, all are worth the value they contribute to satisfy the wants of others. Since few of…

Hazmat conference to stress preparation: Topics include corporate readiness, Katrina lessons

Organizers of the Indiana Hazardous Materials & Environmental Safety Conference are hoping Hurricane Katrina’s demonstration of mass destruction will be a wake-up call for businesses and communities ill prepared for disaster. Corporate participation in the 18-year-old conference has waned a bit in recent years as hazardous and safety planning became more standardized. Some companies have become too detached after outsourcing their emergency preparation to consultants, said Stephen Nash, chairman of the Indiana Forum for Environmental Safety, which sponsors the June…

SPORTS: Two Sams make most of their day at the Brickyard

We often hear the sad refrain that the Indianapolis 500 “isn’t what it used to be.” I would concede the point, although, after last week’s scintillating victory by Sam Hornish Jr., the pendulum unquestionably is swinging back in a positive direction. And while there may be fewer people in the seats and, certainly, fewer drunks in the infield, it remains the largest single-day sporting event in the world, which is a fact and not a marketing slogan. Sometimes you have…

ECONOMIC ANALYSIS: Beware of battles brewing among health care giants

Coming up with simple metaphors and images that faithfully represent the issues involved in the way we pay for health care in our country is a challenge. But one keeps coming to my mind: the kitsch Japanese sci-fi classic “Godzilla vs. Rodan,” where two giant monsters duke it out breathing fire and smashing buildings as the residents of Tokyo quake in fear, waiting to see who will win. Some similarly big battles are brewing in the health care business these…

INVESTING: Weaker dollar could be a major step back for America

Treasury Secretary John Snow resigned recently, and President Bush picked Goldman Sachs CEO Henry Paulson to replace him. When Snow took the job, there was rampant talk that he favored a weak dollar policy, and the same buzz is now surrounding Paulson. I am not sure the talk is warranted, but I know a weak dollar policy is insane. John Snow’s official line on the dollar has been to let the market work it out. He accused China of intentionally…

Marsh merger muddied: Federal filings show grocer wants to ponder richer offer, but legalities might prevent it

A new federal filing suggests Marsh Supermarkets Inc.’s board wants to negotiate with a second potential buyer, even though it’s already agreed to be sold to a Florida private equity firm. The original buyer, Boca Raton, Fla.-based Sun Capital Partners, says merger talks with the new suitor, a partnership between Dallasbased Cardinal Paragon Inc. and New Yorkbased Drawbridge Special Opportunities Advisors LLC, would violate the agreement already in place unless Sun Capital grants Marsh permission to enter the discussions. And…

Museum’s battle plan: Conner Prairie seeks boost from Civil War re-enactment

There were no Civil War battles fought in central Indiana. That won’t stop 400 soldiers in inhumanely hot wool uniforms from re-enacting a massive battle June 10-11 at Conner Prairie. Confederate and Union flags will wave. Brass instruments will sound. Cannon blasts will shake the trees. Sixty armed men on horses will lead the charge. The fighting will last less than an hour each day. The Hamilton County living-history museum hopes the economic effects last much longer. With the 150th…

DANIELS’ DEAL CLOSERS: IEDC generating jobs, but economy shares part of credit

It would have been big. Just last month, a team of officials from the Indiana Economic Development Corp. and The Indy Partnership, its local equivalent, were furiously negotiating with South Carolinabased fire-engine maker American LaFrance. Intrigued by a mix of economic incentives and Indiana’s central location, American LaFrance considered moving its operations to Marion County. In formal negotiations, the company dangled promises of 653 jobs and a capital investment of $18.5 million. State records don’t reveal what incentives Indiana offered…

Danica deal just one of many for MainGate: Firm looks to relocate as profits soar 828 percent

With a deep history in motorsports, it would be understandable if officials for Indianapolis-based MainGate were focused solely on their recently signed exclusive licensing deal with racing diva Danica Patrick. After all, Patrick’s merchandise outsold all other Indy Racing League drivers combined last year, and since MainGate has taken over making, distributing and selling her merchandise this year, sales have tripled, company officials said. But with the company busting at the seams and a wave of new business from various…

BEHIND THE NEWS Simon eyeing mall rival Mills, but should it pounce?: Simon eyeing mall rival Mills, but should it pounce?

Simon Property Group Inc. might soon scoop up one of the flashiest mall developers in the country-but that flash could be cause for worry. If you want to know something about Mills Corp., which began considering a sale earlier this year, review plans for its enormous Xanadu project in the New Jersey Meadowlands. The project broke ground in 2004 with a mind-boggling $1.2 billion budget. So far, Mills has signed just three tenants, and last month the company acknowledged Xanadu…

TAWN PARENT Commentary: Here’s a cure for the commuting blues

Interstate logjams. Sitting through three green lights before getting the chance to turn. Those idiots juggling coffee cups and cell phones who cut you off without even realizing it. There is a lot to hate about the morning commute. On May 19, I found something to love about mine. The day dawned crisp and bright-perfect weather for my first trip to work on two wheels. It was Bike to Work Day. When I learned that one of the group rides…

Commercial real estate brokers can now file liens: New law to help resolve commission disputes

Commercial real estate brokers have a new weapon in disputes over unpaid commissions. A state law that goes into effect July 1 gives them the right to file a legal claim against property, known as a lien, when they think they’re due commissions that haven’t been paid. Previously, their only option was to take the more drastic step of filing a lawsuit. “Where it’s less than a $50,000 commission, it’s just not practical to file a lawsuit to recover fees,”…

EYE ON THE PIE: Let’s tax phone, Internet, TV usage

Felicity Futenmouth and I went to graduate school together. Her career in economics focused on consumer services provided by such first-class firms as MegaMedia, MegaMarkets and MegaMercenaries. We became reacquainted lately at our class’s 35th reunion. Over a nightcap of hot chocolate and biscuits, she enticed me with a coy question: “How do you feel about local taxes?” “I am all for them,” I responded. “If you don’t have local taxes, you don’t have a strong claim on the responsibility…

Conrad high-rise condos sell fast: Only 4 of 15 residences left; biz leaders among buyers

Eli Lilly and Co. President John Lechleiter is among the wealthy buyers who have snapped up all but four of the 15 private residences perched atop the Conrad Hotel downtown. Lechleiter will be on the 23rd floor, one level from the top. Pete Piazza, president of Piazza Produce Inc., will be on the 22nd. And insuranceindustry executive Jack Mead will be on the 21st. The 15 residences fill the top six floors of the new $100 million tower. They start…

BULLS & BEARS: Commodities are passé; time to invest in laggards

As you may recall from my column a fortnight ago, Bill Miller is the manager of the Legg Mason Value Trust. It’s the mutual fund with the longest winning streak vs. the S&P 500-16 years. In the last column, I shared why Miller believes commodity prices are close to their peak and why he feels commodity stocks, especially oil and metals stocks, are too risky for their potential return. The rest of this column quotes Bill’s quarterly letter to his…

Executive Pay Special Report: WORTH IT?: Top brass still collects big packages, but ties to company performance grow

Michael Doar once had to give back part of his salary. How times change. Now CEO of Indianapolis-based Hurco Cos. Inc., Doar offers more bang-for-the-buck than any chief executive in the state, according to an in-depth study of salaries and shareholder returns by IBJ. One would shudder at the t h o u g h t o f Hurco’s board asking Doar to forfeit a penny of his modest salary, as he did one year in the ’90s when the…

Plug in professionals when tasks seem overwhelming:

Running a small business is daunting, to say the least. Small-business owners wear many hats and are expected to be a master of everything: from hiring workers to coordinating group health coverage, from developing marketing materials to hitting sales goals, from assessing technology needs to making tax and insurance payments, from issuing invoices to paying vendors-all while keeping an eye on cash flow. Whew. Larger businesses may rely on individuals or entire departments responsible for each task. For small-business owners,…

LEADERSHIP: Consistency key to influencing employees’ behavior

Being a leader is not a part-time job. I have worked with many leaders who failed to recognize this truth. In fact, I am sure there have been times throughout my career where I haven’t provided the leadership that my team required. The truth is that it’s easy to be a great leader when things are going well. When sales are up, profits are growing and customers are happy, it seems that you have all the right answers. You lead…