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Tiny firm initiates ‘triple play’: Hancock Telecom first to bat with voice-data-video combo

Not so long ago, the heart of Hancock Telecom in the tiny town of Maxwell was a concrete bunker ticking with the solenoids of telephone switching equipment. But about a year ago, the devices were moved to a corner to make room for rack after rack of satellite receivers-fed by a 32-foot dish big enough to cap a corn silo. The product: 176 channels of network and local TV programming that leave headquarters in the form of pulsing light via…

Duke goes on buying spree to locate in key markets: Developer gets footholds in D.C., Savannah, Baltimore

Less than two months into the new year, Duke Realty Corp. has already made three major moves designed to fuel the company’s growth long beyond 2006. The Indianapolis-based real estate investment trust has announced or completed acquisitions in the Washington, D.C., area; Savannah, Ga.; and Baltimore worth more than $1 billion. In the case of Savannah and Baltimore, the deals give Duke prime positions near city ports-locations company officials believe will be key to the distribution business in coming years….

Entrepreneurship the Indian way: A day with a Bangalore software-maker reveals business parallels

BANGALORE, India-HealthAsyst CEO Umesh Bajaj remembers when the only computers allowed in India were self-assembled. As recently as 20 years ago, the Indian government’s protectionist measures prohibited foreign companies from directly selling PCs. Instead, Indians imported microchips and built the computers themselves. In his first job as an electronics engineer for an Indian conglomerate, Bajaj crisscrossed the country marketing versions of mainframes and desktops made in India. Today Bajaj, a 55-year-old born in New Delhi, owns his own Bangalore-based health…

CHRIS KATTERJOHN Commentary: Obesity must be conquered

By now, everybody knows obesity is a huge health problem in our country. The Centers for Disease Control reports that obesity is linked to 112,000 deaths per year and leads to an extra $75 billion in direct medical costs annually. We Hoosiers can hold up a mirror. Depending on which study you look at, Indiana ranks either fourth or fifth as the most obese state in the nation. Our local daily newspaper just published a series of articles on how…

Marsh shares swoon as sale talks drag on: Value of CEO’s stake has been cut almost in half

The value of Don Marsh’s stake in the Indianapolis company that bears his family’s name has diminished more than $1 million a month since the company declared Nov. 29 that it was seeking a buyer. Don Marsh, the CEO, owns almost 750,000 shares of Marsh Supermarkets Inc.’s Class A and Class B stock, making him the company’s largest individual shareholder. The price of both stocks has plummeted since the announcement, making his stake worth less than $5 million. It was…

Irvington confronts development dilemma: District’s new historic guidelines receive first test

A proposed development that would bring a Starbucks and a Union Federal Bank branch to the east side of Irvington presents a conundrum for folks there thirsting to revitalize the historic but neglected neighborhood. Local developer Tharp Investments Inc. wants to demolish a NAPA auto-parts store and a vacant building on adjoining properties it owns on East Washington Street to make way for the coffee shop and bank. Residents welcome the investment as a first step in a broader plan…

Emerging India: Passage to Bangalore: Hoosiers seek outsourcing and investment opportunities

Passage to Bangalore Hoosiers seek outsourcing and investment opportunities BANGALORE, India-The deal was falling apart. Despite a week of flirtation and friendly negotiations, the two young Indian entrepreneurs rejected the offer from the group of Hoosier investors. Frustrated, the investors walked out of the hotel conference room. The chance to speculate on an Indian software startup called Picsquare.comhad fizzled. But none of the six Indiana business leaders was demoralized. After all, they’d crossed the globe to pursue business opportunities in…

Industry veteran at helm as ATA exits bankruptcy: After months of tumult, Karnik ready for ‘boring’ year

Subodh Karnik slowly backed up to his chair at ATA Airlines Inc. and slumped into it. His 46-year-old back was killing him. One of his elementary-age sons back home in Atlanta used him like a trampoline over the weekend. The injury got worse when Karnick ran through the airport, like O.J. Simpson in an old Hertz commercial, to catch a flight back to Indianapolis. “I was born a masochist,” said Karnik, a 6-foot-4-inch native of Mumbai, India, who sports a…

Airport’s 104-acre land sale may not take off: Runways, private owners could hamper development

As city and airport officials begin to develop a marketing strategy for 104 acres just north and east of the Indianapolis International Airport, they will likely focus on the land’s best attributes: access to the airport, Interstate 465 and a rail line. Buyers will need to examine the fine print to learn why the land isn’t likely to become a smaller version of the bustling Plainfield industrial and retail areas to the west. Chief among those less-than-desirable features: The land…

INVESTING: Gold, other commodities still glimmer, despite declines

Commodities have taken it on the chin lately, with the CRB Index (a measure of most of the major commodities) falling more than 6 percent in a week. Gold is down 7 percent. Even copper, a market that seemed to forget how to go down, is taking a hit. Let’s find out what it all means. A few weeks ago, I wrote that I was selling my energy stocks because they had become extremely overbought. I was not turning bearish…

NOTIONS: Of battles, musicals: Let kids think for themselves

My son Zach was in town two weeks ago. He came to take photographs for a school newspaper story written by his twin brother, Austin. My sons’ words and images, published Feb. 10, told the tale of two recent graduates of their high school (Fort Wayne Homestead) who were entering the Marine Corps via a military processing center in Indianapolis. After finishing their story, Austin and Zach talked a lot about their close-up view of the USMC’s front gate: How…

ECONOMIC ANALYSIS: Those who put head in sand put next generation in peril

I have always been fascinated with one particular aspect of the life story of Al Smith. Here was a poor, unsophisticated, relatively uneducated kid from the Lower East Side of Manhattan who showed up at the New York Legislature in 1903 as a nobody, but in the space of 10 years became a major power broker, ultimately running for president. The secret to his success? Unlike his socializing, partying colleagues, Al Smith spent his evenings actually reading legislation. When it…

Standard stock sinks close to crucial mark: As shares hover around $1, company launches effort to raise $25 million

Standard Management Corp. shares are sliding into a dangerous price range as the Indianapolis-based company tries to raise $25 million to continue growing its health-services business. The stock price dipped briefly below $1 earlier this month in NASDAQ trading. It rebounded to close at $1.17 Feb. 10 before slipping back to $1 Feb. 15. NASDAQ imposes a $1 minimum bid price for shares to continue trading on its exchange. Market watchers say Standard is in no danger of suddenly being…

Forum to focus on global business:

A forum hosted by the International Center of Indianapolis will tackle global business challenges March 1 at the Dow AgroSciences headquarters on the northwest side. The seminar, focusing on the rapid growth of China, India, Japan, South Korea and Taiwan, will explore how Indiana companies can attract a diverse work force and compete globally. Several local and international diversity experts are scheduled to speak. Jerome Peribere, president and CEO of locally based Dow AgroSciences, will launch the day’s discussion with…

EYE ON THE PIE: Coffee, doughnuts and liberty

There is nothing like the aroma of strong, fresh coffee. So it was as I woke one recent day. My executive officer had left for work, but graciously left the coffee and its aroma for me to enjoy. Down the stairs I tottered with my dog (who pretends to be too feeble to manage the stairs by himself). I let him out, let him back in, gathered a cup of the brew, and entered my office. “Hi,” she said in…

Duke’s Earth Services Inc.: Environmental services firm cleaning up on spills Haz-mat niche paying off; business expected to double

When a truck carrying a load of frozen chicken crashed on Interstate 74 near Batesville last month-mixing the meat with less-than-appetizing ingredients like diesel fuel and coolant-Duke’s Earth Services was high on the invite list for the impromptu barbecue. The Mooresville-based environmental services company specializes in such unpleasant jobs: cleaning hazardous materials spills, removing underground storage tanks, and checking construction sites for contaminated soil. And business is good. Duke’s posted revenue of $3.5 million in 2005, and leaders expect to…

Buckingham makes big plans for Carmel: Developer awaits OK on 116-acre urbanist development

The makeover of midtown Carmel, driven by the ambitious City Center master plan, could get a boost from a nearby development that could rival the project in scope. Local real-estate developer Buckingham Properties will present its proposal to the Carmel Plan Commission Feb. 21 to transform the 1960s-era Mohawk Hills apartment complex and its golf course into a modern urbanist neighborhood. The development, called Gramercy, could take a decade and hundreds of millions of dollars to complete. The 116-acre tract…

North Binford district looks for shot of development: Area hopes to rebound from surprising business slump

There are 22,200 households within a five-minute drive of 71st Street and Binford Boulevard, according to a recent market study. The median income inside those homes tops $53,000, about 16 percent higher than the U.S. median income. Despite those favorable demographics, area retail establishments and businesses have been dwindling. On the southeast corner of 71st and Binford, for example, there once existed a Preston-Safeway grocery store, an Osco drugstore, a Great Clips hair salon, a pizza parlor, a printing shop,…

Conflict avoided, but not revealed: Director didn’t participate in hiring Sallie Mae unit for $15M state project

Records filed with the Indiana Ethics Commission show that Goode last July removed himself from involvement in vetting the contract his department later OK’d between the Indiana Department of Revenue and General Revenue Corp., a Cincinnatibased subsidiary of the student-loan giant. General Revenue, which pursues overdue payments for Sallie Mae, was hired in August to help the state collect $255 million in back taxes through a tax amnesty program last fall. But the Department of Revenue never sought competing bids…

Hospitals battle for bone biz: St. Vincent’s ortho upgrade ups ante in lucrative niche

St. Vincent Health is spending $9 million to capture more of the city’s lucrative market for orthopedic care, a specialty that could trigger a new arms race among local hospitals. The Catholic hospital network is reworking existing space at its 86th Street campus to create a 61-bed St. Vincent Orthopedic Center that will open in July. The new center aims to consolidate care in one location and raise the quality bar to new heights. “We think we’re creating something that…