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BEHIND THE NEWS: Another Smulyan surprise? Exec could take Emmis private

Emmis Communications Corp. CEO Jeff Smulyan has struggled to keep Wall Street happy the last few years. He might not have to worry about that much longer. At least three Wall Street analysts have said in recent reports that Smulyan, Emmis’ controlling shareholder, might take the radio-station company private. Asked about that scenario during an interview with IBJ, Smulyan said nothing to quiet the chatter. “Everything is under consideration,” he said. “There is nothing that’s not under consideration.” Key reasons…

‘Big gun’ rides into Irving case: Prominent attorney Susman won $900M from Microsoft

Irving Materials Inc. may appreciate that folksy quip after sparring with Houston attorney Stephen D. Susman. The broad-shouldered Texan who once prosecuted Hamlet in a mock trial for charity (Hamlet was convicted) has been named co-lead counsel for construction firms suing Greenfield-based IMI in federal court here over concrete price-fixing. In 1989, Susman defended U.S. House Speaker Jim Wright against ethics charges in a flamboyant style that ruffled the Volvo-driving sensibilities of Beltway Yankees. Susman, 64, called his dapper opponent…

Were IPL earnings too big?: Secret biz plan: Execs feared state would order refunds

In May 2003, the top brass at IPALCO Enterprises Inc. was running the numbers and saw potential regulatory trouble down the line. The latest projections showed the Indianapolis Power & Light Co. parent would earn a return on equity more than double the industry average for years to come, according to a confidential business plan drafted that spring. Not only might state regulators question whether IPALCO was earning too much money from customers, they also might apply existing case law…

Retooling telecom: As rivals proliferate, SBC taps executive to overhaul offerings

Few industries have been as overrun by competitors as the Baby Bells-SBC Communications and other phone companies created through the breakup of Ma Bell AT&T in 1984. The San Antonio-based owner of what used to be Indiana Bell now competes along with local telephone exchange carriers that have carved out an estimated 20 percent of residential service in the state. Lately, cable TV companies such as Comcast have offered phone and broadband over the same, old coax cable that carries…

TOM HARTON Commentary: Luring people with bricks, mortar

A parking garage is about to rise on a vacant lot at 120 E. Washington St. It’s ironic that a block or so west of the site, a group of architects, city planners, real estate developers and leaders of the city’s arts movement meet on a regular basis to plot against such garages. The garage in the works isn’t just any garage. In its current design, which is yet to be approved, it’s only a garage. No ground-floor retail. Just…

BULLS & BEARS: Hedge fund fees should link pay to performance

A performance, or incentive, fee is an arrangement where the investment manager is compensated by collecting a percentage of the annual profit earned by an investment fund. Performance fees, when properly structured, can be a fair deal for both the investor and the investment manager. However, pay for performance is a bit of a misnomer when it comes to the fee structure of many hedge funds today. Often, hedge fund managers can receive substantial compensation even if their fund produces…

Putting spotlight on art for new midfield terminal:

Alpha Blackburn, president and CEO of Indianapolis-based Blackburn Architects Inc., has been involved with the midfield terminal project from the very beginning. As one of the owner’s technical representatives, Blackburn Architects serves as a sounding board for the general aesthetics of the building. Blackburn, who has a master’s degree in fine arts, is now focused on something near and dear to her heart-overseeing the integration of artwork into the facility. “I feel especially appreciative of the fact that my background…

BEHIND THE NEWS: Exec tries to rewrite baseball legacy, but boo-birds abound

Emmis Communications Corp. CEO Jeff Smulyan ended up black and blue the last time he owned a baseball team. This time around, he’s taking blows even before he finds out whether he gets the team. Smulyan wants both Emmis shareholders and residents of the Washington, D.C., region to be excited about his group’s bid to buy the Washington Nationals from Major League Baseball for at least $450 million. But already leading an anti-Smulyan charge is Washington Post columnist Thomas Boswell,…

Pathway to growth: Production firm’s storytelling attracts national attention

Despite a wall lined with Emmy Awards and a client list including ESPN and VH1, Pathway Productions founder Michael Husain is as eager to talk about corporate work and Web site development as his firm’s latest Peyton Manning documentary or his work showcased in this year’s Heartland Film Festival. “The new media side of our business, and that includes Web site development, grew 100 percent in each of the last two years,” Husain said. “So you can see why we’re…

Tenacious spirit pays off for top real estate agent: With $45 million in 2005 home sales, Bif Ward just doesn’t give up when it comes to serving clients

Bif Ward has racked up some impressive numbers during her 26 years in residential real estate, and many think that’s because she caters exclusively to A-list clientele with pricey properties to buy and sell. But Ward is smart enough to know that brokering only for corporate bigwigs and local celebrities would get her nowhere fast, especially in a town where the average home price is just over $162,000. “All these expensive listings-if that’s all I did, I’d be broke,” said…

Backing home again: CID changes out-of-state course, invests $50M in Indiana

Indiana’s flagship venture capital firm has changed direction. Often criticized for not investing frequently enough within state lines, CID Equity Partners over the last five years has quietly put nearly $50 million to work in 10 Indiana companies. In the decade before, CID invested in just a half-dozen local deals. And after struggling to weather the 2001 recession, CID’s managers believe the wind is finally at their back. Three years ago, massive losses threatened to sink the firm. Since then,…

EYE ON THE PIE: Let’s make Indiana a true hub

Sometimes, the obvious is ignored. It is obvious that, geographically, Indiana holds a central position in North America. But when we think about economic development, we take this obvious point for granted. As business grows and incomes rise across the world, the demand for transportation increases. The question for Indiana becomes, “How much does this increase in demand translate into jobs and income for our citizens?” Most people understand that Indiana does not gain anything by having airplanes cross our…

Hancock explores ‘mean, lean operating room machine’: Hospital officials believe time is right for surgery center

Hancock Regional Hospital has dusted off plans to build an outpatient surgery center with some of its doctors, and it may turn for help to a business run by the competition. The Greenfield hospital has talked with Visionary Enterprises Inc., a for-profit subsidiary of Community Health Network; and another Indianapolis company, Russell Associates LLC, about forming a partnership to build the center. Hancock Regional executive Rob Matt called the discussions preliminary but said officials hope to pick a partner by…

Pumping out healthy profits: Stand-alone heart hospitals now bustling, earning millions after overcoming slow starts

Business heated up so fast for The Heart Center of Indiana last winter that it averaged 103-percent occupancy for an entire month. That meant the Carmel hospital often had to hold patients in an emergency room or short-stay location until space opened for them, Heart Center CEO John Stewart said. “We literally, multiple times, had to refuse [patient] transfers,” said Stewart, whose hospital is spending $4 million to add 20 beds that should be ready for patients next month. After…

Coastal is in the name, central Indiana is its game: California-based firm cultivating its local operations

Despite its name, Coastal Partners LLC is firmly entrenched in the heartland. Most of its current projects are in central Indiana, as are about half its employees. In August, the Sacramento-based firm hired Tom Ott to oversee its central Indiana operations and new development. Ott, a respected 10-year veteran of the local office of Los Angeles-based CB Richard Ellis, plans to continue his relationships in the local brokerage community to further Coastal Partners’ presence in the area. Although the name…

South-side exit finally sparking development: Wal-Mart might by key to I-65/County Line interchange meeting expectations

An interchange linking Interstate 65 and County Line Road completed six years ago is finally helping attract large commercial development to a busy Johnson County corridor. While Greenwood city officials are pleased by the amount of activity occurring there, they question why it took so long. “We thought it would take off much sooner than it did,” said Ed Ferguson, Greenwood’s director of planning, zoning and economic development. “We still have several hundred acres available in what we call the…

VOICES FROM THE INDUSTRY: More than ever, developers give back to communities

As cities and towns work to attract businesses and residents that will make a positive impact on their tax bases and improve the quality of life in their communities, plan commissions, city and town councils and other governmental entities aren’t looking at land use the way they did a decade ago. Now, when a developer files for a rezoning, government officials look for ways that rezoning can improve a community’s standard of living and economic outlook. They evaluate how proposed…

Free market is best hope for health care:

Clearly, the U.S. health care system has its share of problems. Costs are rising rapidly, some 45 million Americans are without health insurance, and both doctors and patients decry their loss of options and control. But, would a government-run health care system be any better? Single-payer health care systems have been proposed in a handful of states as the solution to the problem of access for the uninsured. While single-payer plans can offer all citizens some type of health insurance…

Apartment industry embracing Ball State graduates: Program makes property management a career goal

During the 1990s, a booming Indianapolis apartment market was becoming increasingly competitive. About 10,000 units were added to the market in the second half of the decade and professional, well-educated managers to run them were in short supply. Enter the Apartment Association of Indiana, which figured the best way to find the professionals apartment owners needed was to grow their own, so to speak, by creating a post-secondary education degree program for the industry. At that time, Virginia Tech was…

Web service hungry for business: 46 local restaurants sign up for online takeout ordering

When pharmaceutical rep Andy Knopfmeier needed lunch for a 29-person obstetrics office he was calling on recently, he made it happen without picking up a phone or idling in a drivethrough lane. Instead, Knopfmeier-who provides lunch to doctors as a way to get in the door-went online two days before the meeting and ordered sandwiches, chicken nuggets and waffle fries from a Noblesville Chick-Fil-A. He prepaid the bill with a credit card and entered instructions on when he’d pick up…