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Attorney: Heiress opposed big gifts: Deposition says Lilly upset when arts groups got $185M

Ruth Lilly garnered headlines around the globe in 2002 after an Indianapolis judge approved a new estate plan for the heiress that earmarked an estimated $185 million for two tiny arts organizations, the Chicago-based Poetry Foundation and Washington, D.C.-based Americans for the Arts. Now, in a newly public deposition, Lilly’s personal attorney, Tom Ewbank, charges his client was opposed to the large bequests and instead had wanted to funnel more of her billion-dollar estate into her own foundation, for the…

CHRIS KATTERJOHN Commentary: Beware the creep of urban sprawl

I’m happy for the city of Carmel that it wants to be a city in its own right, and not just a bedroom community of Indianapolis. I’m not so happy about some of its development practices. Up in my neck of the woods-western Clay Township-new subdivisions have sprung up like weeds, with little or no improvement to roads that support them. The resulting traffic delays have been maddening, to say the least. It’s not uncommon these days for me to…

INVESTING: Investors beware: More stocks looking bearish

I bet you’d like to know the day this bull market is going to end. You might find it extremely helpful if your crystal ball told you when the S&P 500 was going to reach its top. If you had this information, you would probably hold on to all the stocks you own until the final day, thinking that you will get out of everything right at the top. Unfortunately, market tops don’t work that way. Knowing when the S&P…

NOTIONS: Four years after 9/11, freedom still resounds

Dear Mr. bin Laden: On Sept. 11, 2005, I woke up late. I’d been to dinner and a movie the night before. Then I stayed up reading. So I slept in Sunday morning. I moseyed out of bed, put on gym shorts and a T-shirt, and retrieved the newspapers from the drive. You got beat on the front page by Hurricane Katrina. We like our crises fresh. Yours has grown stale. You made the cover of The New York Times…

BEHIND THE NEWS: Beneficiaries of Lilly largesse lose bid to spank bank

Round one goes to National City Bank of Indiana. An Indianapolis judge last week signaled he plans to dismiss litigation filed by two big beneficiaries of Ruth Lilly’s estate, Washington, D.C.-based Americans for the Arts and the Chicago-based Poetry Foundation. The groups charged the bank bungled management of her assets, costing them tens of millions of dollars. Judge Charles Deiter on Sept. 12 canceled a 10-day trial that was to start Sept. 26 and asked the bank to submit a…

City Market plans raising concerns: Coming renovations worry some tenants

Renovation plans for City Market intended to boost sales at the downtown landmark have some tenants concerned about what it will cost them. In early January, the market’s management expects to begin work on $350,000 worth of lighting and flooring improvements in the historic main hall. Tenants will be permanently moved, with preparedfood stands along the perimeter of the building and retail stands in the center. And stands will sport a uniform look. Individual tenants will bear most, if not…

Winona’s trustee seeking money, answers:

Winona Memorial Hospital hasn’t treated a patient in more than a year, but it continues to care for the leftover medical records of roughly 60,000 people. The fate of those records is one of many loose ends waiting to be tied up by lawyers and others shepherding the defunct hospital through liquidation. Indianapolis attorney Paul Gresk, the hospital’s Chapter 7 bankruptcy trustee, also wants to find cash to give hospital employees their last paycheck. And he wants to learn more…

EndGenitor might hold key to repairing blood vessels: Biomedical startup researchers grow cells from umbilical cord fluid

En d G e n i t o r Technologies Inc. is a prime example of the type of company BioCrossroads, central Indiana’s life sciences initiative, covets. Founded on the scientific discoveries of two Indiana University School of Medicine researchers, the venture is on the cusp of producing stem cells that someday could repair the blood vessels of heart attack victims and diabetics. Drs. Mervin Yoder, 52, and David Ingram, 39, company cofounders and professors at the Herman B Wells…

Opportunity … .. or Albatross?: Winona bankruptcy creditors move toward sheriff’s sale

A sheriff’s sale to the highest bidder may be the fate of the once-bustling Winona Memorial Hospital. Bankruptcy creditors, frustrated that they haven’t found a buyer for the vacant near-northside property, plan to seek a foreclosure that clears the way for public auctions of the hospital and an adjacent nursing home. A sale and renovation of the properties could boost the neighborhood surrounding Winona, a part of town that has struggled but is riding a wave of good news the…

Private high school set: Cristo Rey to open downtown with 46 companies behind it

A private high school that relies on business participation, the first of its kind in Indiana, is set to open downtown in the fall of 2006. A work-study program designed to help lowincome students pay for tuition and give them corporate work experience is what will set Providence Cristo Rey High School apart from its private and public counterparts throughout the state. Corporate sponsors said it will also give promising students a local business connection, which could help keep them…

Libraries book on Plainfield duo’s automation software:

Rob Cullin and Rodd Cutler thought there must be a way to adapt their knowledge of factory-automation technology to libraries, even though the two industries appeared worlds apart. Turns out, automation is automation, Cullin says. By developing the right software, just about anything can be automated and made more efficient. Cullin, who had worked with Cutler for years, was downsized by the company they worked for about five years ago, but wanted to keep his hands in technology. “I had…

Giving office furniture a lift: Pointman Organizer provides users two desks in one

It looks like an average, yet stylish, office desk. But press a button and a hutch automatically rises from the back, exposing a flat-panel monitor, speakers, a printer and storage areas. Press the button again and the hutch descends, providing wide-open work space. The desk is the first product available from upstart Arise Innovations Inc. Partners Tom Doane, 39, and Jeffrey Hallal, 48, have a patent pending on the design and have sold production rights to Jasper based Inwood Office…

Interest high for soon-to-be-shuttered foundry: Size, location make redevelopment promising

When the workers at DaimlerChrysler Corp.’s Indianapolis Foundry clock out for the last time at the end of the month, they’ll leave behind 756,000 square feet of factory space, tons of equipment, and more than 52 acres of industrial land on the city’s west side. Rather than becoming a rusting industrial relic along Interstate 70, however, the buildings will be razed and real estate experts expect the land will soon find a new use, albeit likely not for a factory….

Sugar Buzz brings convenience to child care service:

Parents who need a few hours for themselves at the last second can’t take their toddlers to conventional daycare centers. But they can take them to the new Playcare program launched by Sugar Buzz in Broad Ripple. Longtime pals Wendy Reed and Pam Weaver are the brains behind the concept aimed at parents who might need time to shop, work out or attend a meeting. Unlike traditional child care services, however, there are no upfront contracts or commitments. Instead, Playcare…

Delivery service takes Web shopping to the next level:

Richard Cherry knows the 30-minute delivery concept isn’t new. Pizzerias have been promising to deliver pies to the door in 30 minutes or less for years. And grocery stores have tried something similar, delivering milk, eggs and bread, but generally promising next-day delivery. Cherry wanted to deliver groceries-and more-in 30 minutes, so he teamed with 30-minute pizzeria guru Tom Monaghan, founder of Domino’s Pizza, and came up with 30MinuteMall. Using delivery employees known as CyberValets, virtual grocery stores and Web…

EYE ON THE PIE: Use property tax to boost investment

I walked a little more than two miles recently on the Monon Trail. This probably surprises those who know me. But even the most slothful will, on occasion, rise from the recliner and not go to the refrigerator. The Monon Trail runs from 10th Street in Indianapolis to 146th Street in Carmel. That’s about 20 miles. It follows the route the Monon Railroad abandoned in 1987. It has been identified as a model for other rails-to-trails programs. The trail is…

INVESTING: Price controls are not the answer to fuel woes

The cries for rationing are getting louder. About 4 percent of America’s daily oil consumption was taken out by Hurricane Katrina. It will take months to get this supply back, and gas prices at the pump showed immediate reactions. Now with gas over $3 a gallon almost everywhere in the country, some politicians are telling the government to establish price controls and actually take control of the supply chain. The horrors we put ourselves through during the Nixon administration when…

NOTIONS: Generosity of the moment, generosity over time

In an e-mail last week, my sister-inlaw, Carrie, shared a story about my nephew, Eric. It said: “Eric has been keeping abreast of the hurricane news (as much as a 13-yearold boy might do) and inquired last night if we had made any contributions to the relief effort. I told him that we had contributed online to the Red Cross, but that I truly didn’t know the amount of the contribution since Dave [his dad] had handled it himself. “Eric…

TOM HARTON Commentary: Where business, disaster meet

We don’t do weather. Business newspapers don’t ask reporters to stand in bitter cold to demonstrate that it’s uncomfortable. We don’t warn our readers about the dangers of a storm by assigning a reporter to stand in the middle of one. When the wind and rain send things crashing down around us, we become consumers of news just like everyone else. Last week, we broke our rule. No, we didn’t brave the elements, but what happened in New Orleans and…