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Steep loss forecast for Standard Management: Company still anticipates closing deals for more financing as SEC annual report deadline looms

Standard Management Corp. is projecting a 2005 loss topping $20 million, and its stock has fallen below a minimum share price required by the NASDAQ exchange. The Indianapolis pharmaceutical-services firm also missed a deadline to file its annual report, as a push to arrange more financing “has consumed a substantial portion of management’s time and limited resources,” according to a March 31 filing with the U.S. Securities and Exchange Commission. Company leaders expect a $20.3 million loss from continuing operations….

Repairs to tower may take months: Tenants scramble for other arrangements

It was a symbol of his success. For the last three years, environmental attorney Robert Clark has relished the view from his corner office in One Indiana Square, high above the streets of Indianapolis. But on Sunday, April 2, tornadoforce winds left it in tatters. His family photos are gone. Likewise his case files and the many gifts he’d received over the years from friends or clients. “I understand there are no exterior walls,” he said. “My desk is still…

Binford med center making headway

The building skeleton planted recently at the corner of 65th Street and Binford Boulevard offers only a hint of the $29 million medical complex Ken Schmidt wants to grow there. The Indianapolis developer will add four more buildings and a separate pharmacy to the 17 acres of land he bought several years ago. The end result, he said, will be a medical plaza that offers a unique blend of services encompassing dental work, radiology and ambulatory surgery, among other specialties….

Atlas draws Fresh interest: Upscale grocery chain with a store in Carmel considers local expansion

North Carolina-based The Fresh Market Inc. has confirmed it’s interested in the former Atlas Supermarket site at 54th Street and College Avenue. “We are looking at expanding in that area and we’re looking at a lot of sites,” said spokesman Eric Blaesing. “[The Atlas site] is one of them.” He added that nothing is definite and “for every 100 sites you look at, you end up with one of them.” N e i g h b o r s hope…

BULLS & BEARS: Proxies often overlooked, but investors should care

This is the time of year for investors when a trip to the mailbox yields an armload of financial reports. Corporate annual reports come in all shapes, sizes and colors. Their purpose is to provide the investor with a view of the businesses’ performance over the past year, though some still tend to resemble marketing brochures as opposed to a candid compilation of the year’s results. An important-but often overlooked-document is included with the annual report: the proxy statement. The…

TAWN PARENT Commentary: Valued employees go the extra mile

Tawn Parent is on vacation. In her absence, this column, which appeared on May 9, 2005, is being reprinted. I fought through Castleton traffic recently to pick up a few bottles of wine at Trader Joe’s. It was a brand I’d bought before and liked. But the first bottle I opened was spoiled. So was the second bottle. I called Trader Joe’s. They said to bring the bottles back. I told them I hadn’t saved my receipt. “It doesn’t matter,”…

Financial Strategies Mortgage Inc.: Training firm meeting national demand More states require continuing education for mortgage lenders

Launched in 1998 by consultant Aaron Wilson, the training firm is cashing in on the national demand for continuing education programs. Revenue topped $5 million last year, a significant jump from the $200,000 the company collected the first year it offered classes. Financial Strategies found its focus in 2000, when the state began requiring loan officers in Indiana to take continuing education classes-even though there weren’t any classes here for them to take. Wilson jumped on the opportunity. “In one…

SPORTS: Final Four manager enjoys his shining moments

On the day after the Men’s Final Four Basketball Tournament concluded, the NCAA’s Greg Shaheen said two national champions had been crowned: The University of Florida in winning, and the city of Indianapolis in hosting. For the local organizers, that was some sweet praise coming from an NCAA guy. Sure, one could question Shaheen’s objectivity. As many know, the 38-year-old is an Indianapolis/Carmel native who not that long ago was one of those local organizers. At the 1997 Indy Final…

Tax forms not dependable as only source of NFP data:

Not-for-profit organizations’ tax filings can provide a wealth of information, from big-picture data like annual revenue and expenses to nitty-gritty details, including the CEO’s salary. But drawing conclusions-or trying to compare organizations-based only on the IRS Form 990 is difficult at best. First off, not all tax-exempt organizations are required to file tax returns. Groups with less than $25,000 in annual revenue are exempt from filing, as are all churches and many other religious institutions. And among those that do…

Ovation liquidates assets as part of Chapter 11 filing: Stores will remain open under new ownership

Indianapolis-based Ovation Audio Video Specialists has emerged from bankruptcy, and some creditors are saying they got the short end of the amplifier. The high-end consumer electronics retailer filed Chapter 11 on Oct. 14 after 19 years in business. Creditors are upset because the bankruptcy case quickly became an asset sale rather than a typical Chapter 11 reorganization. They’re also suspicious that the company’s president walked away with some of the best assets. “Although when they filed they talked about their…

NOTIONS: College tour reverie: How we got from there to here

The Lenox Hotel, Boston-My son, Austin, doesn’t remember this, but we’ve stayed here before. Last time around, he and his twin brother, Zach, posed in the buff for a Beantown photographer. Now, don’t get the wrong idea about my sons. That was 17 years ago. And they’re nearly 18 today. So we’re talking infant shots here. Baby pix. Neophyte photo fare sans Pampers. Back then, I worked for an East Coast ad agency. One of our clients, a Massachusetts hospital,…

Mexican truckers file lawsuit against Celadon: Trucking giant disputes discrimination, calls other claims ‘a form of extortion’

To Celadon Group Inc., it’s ambulance chasing, Tex-Mex style. Mucho absurdo. To a handful of Texas lawyers who filed suit against the Indianapolis-based trucking company last month, it’s an opportunity to haul home triple damages on allegations of racketeering and wage discrimination against Mexican citizens who drove Celadon’s trucks on this side of the border. At the least, the allegations in a lawsuit filed in U.S. District Court in Laredo, Texas, reflect a complex relationship between North American neighbors, said…

EYE ON THE PIE: Election is critical to Gary’s future

Let’s sell Fort Wayne and its surrounding counties to Ohio or Michigan. Or in the spirit of the day, at least we could lease out part of northeast Indiana. If we got rid of Fort Wayne (Allen County) and two counties to the north (Steuben and DeKalb) plus one county to the south (Adams) and one to the west (Huntington), we could decrease our state’s population by 491,500. Why would we want to do that? There’s no good reason to…

Shared patient rooms in hospitals soon to be history: Guidelines call for private quarters in all new facilities

New guidelines due out in June will call for newly constructed hospitals to come equipped with all private patient rooms, the first time such a minimum requirement has been issued. The guidelines, published every four years by the Facilities Guidelines Institute and the American Institute of Architects’ Academy of Health, are used by nearly 40 state governments-including Indiana-to set regulations, approve construction plans and license hospitals to operate. And hospitals nationwide-including those in Indiana-are expected to embrace the guidelines that…

ECONOMIC ANALYSIS: Urban growth crucial for regional prosperity

Oakland County, Mich., located northwest of the city of Detroit, is home to some of the wealthiest communities in the nation. Its per capita income consistently ranks it nationally in the top-five counties, and a visual tour of its majestic homes, well-funded private schools and sumptuous amenities confirms the material wealth of its residents. So why aren’t economic developers trekking north to Michigan to discover the secrets of this county’s economic success? The answer is simple: Oakland County is also…

COMPEN$ATION CLASH: Complexity boosts not-for-profit pay, but should work be its own reward?

At least two large Indianapolis not-for-profits have been investigated-and cleared-as part of an Internal Revenue Service examination of compensation practices at tax-exempt organizations. Preliminary results of the nationwide inquiry aren’t expected until fall, but the scrutiny already has increased the volume in an ongoing debate over how not-for-profit executives should be paid. Some observers have called for setting limits on not-for-profit compensation, citing the charitable nature of the work. Others insist sixor seven-figure pay packages are not out of line…

Single women opt for owning homes: Marriage and home ownership aren’t always synonymous

Apparently, Dorothy’s still right. There is no place like home, particularly if you are a single woman with good credit. Single women now are significant players in the real estate market. In fact, one out of every five homebuyers nationwide in 2004 was a single woman-and locally the percentage is even higher. According to a 2004 study by the Metropolitan Indianapolis Board of Realtors, almost 25 percent of homebuyers in the area were single women. The national figure, compiled by…

Clarian chooses small firm for big advertising account: The Heavyweights gets nod over larger agencies

One of central Indiana’s largest advertising accounts has been awarded to a relatively small but growing agency. Clarian Health Partners this month signed what industry sources are calling a multiyear, multimillion-dollar deal with The Heavyweights, a firm headquartered in The Stutz Building downtown and best known for its creative work for clients such as Procter & Gamble and Roche Diagnostics. Officials for Clarian and The Heavyweights would not divulge the deal’s terms. The Heavyweights will provide creative direction and strategy…

Profitable Indians enter pivotal year: Local franchise in better shape than most

The Indianapolis Indians have one of the winningest franchises in minor league baseball-at least financially. Since 1973, the AAA franchise has been in the black. And, despite new challenges, the team hopes to maintain that streak this year. But operating expenses that have escalated much faster than revenue in recent years have put all minor league teams on guard, and this season is seen as crucial for the survival of many of those franchises across the country. Even though the…

Experts: Businesses should prep for bird flu: Vast majority of U.S. companies have not budgeted for possible pandemic, despite warnings from health officials

The much-hyped Y2K computer bug came and went without so much as a whimper from a whirring hard drive. But unlike the threat of malfunctioning computers, health experts warn that the potential danger of an avian flu pandemic is far greater. In the event of a widespread outbreak in the United States, companies large and small need to be prepared in order to keep interruptions to a minimum, they say. “I am an evangelist for having a contingency plan,” said…