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BEHIND THE NEWS:

Two upcoming, high-profile business trials now are off the schedule, thanks to a guilty plea from wheelerdealer James T. O’Neal Jr. and a settlement by former Conseco Inc. executive Rollin Dick. O’Neal, 60, a Carmel native accused of swindling some of Indianapolis’ wealthiest investors out of millions of dollars, just before Christmas reached an agreement with prosecutors under which he pleaded guilty to two of the 82 felony counts against him. He could face up to six years in prison….

STATEHOUSE DISPATCH: Daniels may not wield as much influence this session

We’ve only made it through the first few days of activity, but already we can get a feel for what this session of the Indiana General Assembly will focus on. Republican Gov. Mitch Daniels made it clear in his Jan. 11 State of the State Address that he believes lawmakers should devote the bulk of their attention to a legislative agenda revolving around highway construction, education, and local government reform and flexibility. House Republicans last week unveiled a broad series…

EYE ON THE PIE: Indiana turning toward Houdini plans

“What should the Indiana General Assembly do during this session?” The question came from Ralph Write, a newly minted reporter. “I’m glad you asked,” I replied. “Simple solutions from simple people would be simply spectacular. But the issues are complex and I don’t know if the legislators have the information they need to decide intelligently any of the major questions before them. “For example,” I expounded, as Ralph took more notes than were warranted by my remarks, “there is the…

Trying to make wastewater less wasteful: Carmel startup sees big potential in new treatment

The yellow-hued liquid in a jar that business partners Bud Harmon and Timothy Ortman tote with them to tout their venture often is mistaken for urine. But the pair is pretty sure the chemical compound, which treats wastewater at food-processing plants, carries much more promise. A second-place finish in a November business plan competition hosted by Purdue University helped bolster their belief. Harmon, a past chairman of Purdue’s Department of Animal Sciences, and Ortman, an aerospace engineer who cut his…

Banking players on rise: Despite flood of mergers, area competition heats up

Big-ticket bank mergers grabbed plenty of headlines in the past two years. Just don’t let the splashy news stories fool you. The number of players in the Indianapolis banking market is expanding, even amid consolidation in the industry nationwide. Over the past 10 years, the number of banks taking deposits in the metropolitan area has grown from 41 to 56, according to annual data from the Federal Deposit Insurance Corp. Analysts attribute much of the growth to smaller banks and…

Builders remain bullish: Area likely to escape home construction slump, experts say

When home mortgage lender Fannie Mae this month predicted home sales might fall as much as 10 percent in 2006, Wall Street shuddered. Shares of home builders dropped, temporarily stalling a rally in the broader stock market-and raising questions whether the pace of new subdivisions in central Indiana might slow. Yet despite the discouraging outlook for the national housing market, builders active in central Indiana remain optimistic, singing a common refrain: not here. As it has for the past two…

Aearo aiming for IPO: Giant in safety equipment wants to raise $230 million, plans overseas expansion

An Indianapolis company that makes earplugs, hard hats and other protection gear used by everyone from soldiers to construction workers has laid the foundation for an initial public stock offering. Aearo Technologies Inc. plans to raise up to $230 million in the offering and list its shares on the New York Stock Exchange, according to its registration statement filed late last year with the U.S. Securities and Exchange Commission. But the filing leaves blank a number of key details-such as…

NOTIONS: Failing to learn from the past, condemned to repeat it

It was raining in London the morning before New Year’s Eve. As we emerged from the St. Paul’s tube stop to a gust of wintry air, my friend Cheri wrapped her black topcoat a bit tighter, I buttoned my Navy blue, and we pulled on our gloves and scarves, and opened umbrellas to ward off the cold and damp. We walked briskly past the north churchyard of St. Paul’s Cathedral, turned the corner and climbed the front steps. Inside, we…

BULLS & BEARS: Behind the mumbo-jumbo lie risky pension strategies

Let me introduce you to the hottest thing going in institutional investing (pension plans)-it’s called “portable alpha.” One salesman for a large money management firm hails this as a new era in investing: “The new paradigm rejects total return as the measure of a strategy’s worth. It instead holds steadfast to the principle that any strategy’s total return can be divided into a market return and (ideally) a net excess return. “The market return component is quantified as beta and…

IRSAY’S ODYSSEY: Owner learned from life in NFL to build winning team

The Indianapolis Colts' evolution from perennial patsy to Super Bowl favorite is a body of work with a seldom-told—and often misunderstood—history. It's easy to see the hues all-pros Peyton Manning, Marvin Harrison and Edgerrin James painted on this masterpiece season. President Bill Polian and Coach Tony Dungy certainly colored the landscape. And Offensive Coordinator Tom Moore added his creativity. But theirs aren't the only signatures on this canvas.

From FFA to DNA: Businesses view convention as more than a gathering of corn growers

Don’t call it the Future Farmers of America. That went out of style with pastel suits and parachute pants. The organization is now known as the FFA. And it’s no longer just a gathering of crop jockeys. The change in moniker partly illustrates why business leaders are so excited for the first of at least seven annual conventions the organization will stage in the Circle City starting in late October. “FFA is a premier, if not the premier, youth organization…

TAWN PARENT Commentary: Can’t get no (job) satisfaction?

-Dylan Thomas What would it take for you to love your job? For my friend Portia Graves, it’s taking a major career change. After 14 years as an insurance adjuster, she has enrolled in nursing school at age 40. She liked her job at first, but eventually the luster wore off. “I saw this huge increase in what I would call greed. It was really starting to get to me,” she said. And as the industry became more afraid of…

BEHIND THE NEWS: Big backer of Marsh cashes in millions in grocer’s shares

The Cincinnati investor that has helped back Marsh Supermarkets Inc. for more than two decades quietly unloaded a big chunk of its shares just before Christmas. American Financial Group Inc., an insurer controlled by the family of billionaire tycoon Carl Lindner, sold 255,686 Marsh shares for nearly $2.4 million Dec. 21 and Dec. 22, a filing with the Securities and Exchange Commission shows. American Financial officials did not return calls, but market observers say the move suggests the insurer thinks…

NOTIONS: Throwing out the book on ‘remedial’ education

On the first day of school, eighth-grade history teacher George Barnes took aim at tradition. With all the arm strength of the former Butler University football player he is, Barnes heaved a history text across his classroom. The book flew past his students’ stunned faces and crashed against the wall. Barnes asked the shocked teens: “If you were recording for history what you just witnessed, what would you say?” “Some,” said Barnes, “said, ‘That Mr. Barnes, he’s a crazy man….

Kosene condo plan rankles residents: Broad Ripple developments would undermine character of village, neighborhood groups say

Kosene & Kosene Residential LLC wants to follow the success of its sold-out Monon Row condominium project in Broad Ripple with two new projects. But it’s facing strong opposition from nearby residents, who say the high-density projects are out of step with the small-town character of the village. The Indianapolis-based developer is seeking rezoning that would allow it to build 23 condos at 66th and Ferguson streets and 28 condos along the Monon Trail south of Broad Ripple. Buildings would…

EYE ON THE PIE: Making money by neutering history

I drove north last week from the Caesar’s gambling facility in Harrison County. Instead of taking the usual roads, I twisted up the cliffside overlooking the Ohio River via Doolittle Road. Then I went through New Middleton to Corydon before I joined the state highway system. It was a delightful drive that I never would have known about from anything on the state’s tourism Web site. Yes, I can hear the usual lament: “Wait, we’re working on improving our materials….

Church’s business savvy extends financial ministry: New Life helps members become self-sufficient

Ondalere Helm has struggled to stay on solid financial footing since being laid off about four years ago. The 32-year-old mom got behind on her bills and was living in a governmentassisted apartment building with her 7-year-old daughter. “I had been praying for a home for my daughter,” Helm said. “I tried to buy a house, but my credit wasn’t good enough.” Then about two months ago, the pastor at New Life Worship Center-where Helm and her daughter attend religious…

ECONOMIC ANALYSIS: We want to spur economy, but what’s the best way?

If you want to get an idea just how hot the topic of economic development is in Indiana these days, take a stroll over to the Department of Insurance’s Web page. Instead of finding notices of regulatory proceedings or a lineby-line listing of the insurance code, you’ll get a spirited, enthusiastic rundown of all of the reasons Indiana is a great state in which to locate your insurance company. If you happen to own one, that is. That’s a little…

Growing numbers facing ‘rich’ tax: Alternative minimum tax reaching middle class

The number of Americans subject to the alternative minimum tax is expected to skyrocket this year unless Congress passes a retroactive safeguard. The tax, designed to prevent the rich from skirting taxation, threatens more middle-class families every year because of inflation. But because federal lawmakers failed to extend a “patch” that normally protects the less-than-wealthy from the AMT, it is estimated that 16 million more taxpayers could fall into its grasp this year. The AMT is catching many local taxpayers…

Legislators fight over green rules: Biz lobby: Indiana standards should not exceed EPA’s

Business interests and environmentalists are squaring off in the Indiana General Assembly. It’s unlikely they’ll see eye-to-eye anytime soon on this year’s ripest green issue: whether to hold Indiana to a higher environmental standard than the rest of the nation. In one corner, the Indiana Chamber of Commerce is leading a push for legislation to bind the state to environmental rules “no more stringent than” those of the U.S. Environmental Protection Agency. Framing the debate around economic development, the Chamber…