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BULLS & BEARS: Conflict of interest arises when valuing companies

When two companies engage in an acquisition, within the proxy documents delivered to shareholders a “fairness opinion” is routinely provided. The fairness opinion is an analysis of the transaction typically conducted by an investment bank. Corporate boards hire these “third-party” advisers to satisfy their fiduciary duty to shareholders and to protect against legal challenges over a decision to do a deal. These opinions may be delivered by investment banking firms who have no other role in the deal. But they…

Bomar Industries: Metal fabricator builds on expertise Bomar Industries’ owners started without a business plan, but succeeded anyway

Bomar Industries’ owners started without a business plan, but succeeded anyway Brothers Bob and Mark Buchanan have parlayed their passion for drag racing and metal bending into a $3 million enterprise with only growth on the horizon. The brothers started Bomar Industries like a lot of entrepreneurs-with no business plan and their own money and equipment. The Buchanans already had lathes, mills, welders and other supplies for their work on dragsters and other hobby projects. Bob, 50, was an engineer…

Flexibility important for balancing careers, kids: Local partners say developing support system, staying organized helps at work and at home

Managing partner and mother of two Pat McCrory wishes she had invented the simple, no-frills storage shelves and baskets that Pottery Barn Kids sells that make her life easier and more organized at home. For McCrory, a partner at the Indianapolis law firm of Harrison & Moberly, being organized is a vital part of balancing her work schedule and responsibilities as a mother of a 5-yearold son and 2-year-old daughter. But as a female partner, McCrory isn’t exactly among familiar…

GERALD BEPKO Commentary: FFA is important to our future

What major, national, student-oriented not-for-profit organization with deep roots in Kansas City moved its headquarters to Indianapolis in the last decade and now has made commitments to bring a huge number of visitors to Indianapolis each year into the future? If you think the answer is the NCAA, you would be half right. The complete answer is that there are two such organizations: the NCAA and FFA. Both the NCAA and FFA brought economic benefits along with their headquarters. Through…

ROUGH ROAD AHEAD?: Chrysler foundry’s closing a warning sign for other plants

Chrysler foundry’s closing a warning sign for other plants The closing of DaimlerChrysler Corp.’s foundry west of downtown at the end of this month signals more than the end of nearly 900 jobs there. “There’s a fundamental change occurring in the automotive industry right now,” said Matthew Will, director of the University of Indianapolis’ graduate business program and associate dean in the School of Business. “Unless local manufacturers in this sector don’t reposition, I would certainly expect to see more job…

Final 4 lodging scarce: 7 months before event, brokers lock up rooms

Basketball fans hoping to catch the action at next spring’s NCAA men’s Final Four in Indianapolis are more likely to score decent tickets than they are a downtown hotel room, though neither will come cheap. As the event has moved from fan-centric to corporate, the demand and price for hotel rooms has reached new highs. And the hotel room supply for Final Fours held locally is likely to tighten as NCAA officials push for larger Final Four venues-such as the…

Proposed natural gas pipeline bogged down at IURC: Project would give customers access to lower-priced gas, blunting impact of Katrina and hike in delivery fee

A pipeline that would give residential and industrial customers access to cheaper wholesale natural gas from the West and Canada won’t be built this winter, when it could have blunted prices whipped skyward by Hurricane Katrina. The Indiana Utility Regulatory Commission is still reviewing Citizens Gas & Coke Utility’s request to construct a nearly 20-mile pipeline that would connect its Greene County gas storage facility with the Midwest Gas Transmission System line in Sullivan County. That line ties into a…

Overcoming negativity can boost bottom line: Realistic optimism is a skill worth learning

Negativity is an increasing problem in the workplace, costing U.S. companies about $3 billion a year in lost productivity, according to the U.S. Bureau of Labor Statistics. Whether it’s due to downsizing, budget cuts, lack of participation in decision-making, or co-workers who are simply pessimistic, negativism hurts everybody. Suzanne Metzger knows this firsthand. She said strong faith helped her weather a life-threatening setback-breast cancer. A major obstacle in her life was dealing with difficult people instead of holding her anger…

Basic utility vehicle rolling ahead-slowly: Assembly would happen in developing nations

A not-for-profit group developing vehicles for use in the Third World plans to open a “micro-factory” next month near 65th Street and Binford Boulevard. But the Institute for Affordable Transportation site won’t mass-produce its diminutive vehicles, powered by lawn tractor engines. Rather, the donated space will become a lab for working out methods to help those in developing countries assemble the so-called “basic utility vehicles.” The facility “is to basically prepare the way for this technology transfer package so it…

Hoosier Salon paints its role in broad strokes: 81-year-old organization hangs on to popularity

In the art world, the Hoosier Salon is a true Indiana original. Founded in 1925 by a group called the Daughters of Indiana, the Hoosier Salon blazed the trail for countless modern-day galleries and arts organizations seeking to spread the gospel of Indiana artists. Today, the organization finds itself in friendly competition with younger organizations for artists and patrons. It remains relevant, its leaders say, by constantly evolving while keeping the ideals that have given it prestige among generations of…

Formula freebies create controversy: Medical profession encounters gray area when it accepts samples

The free mouse pads and pens that popped up every time a baby formula salesman visited Indiana University Hospital annoyed Marsha Glass, a former lactation consultant there. However, the cases of baby formula-left not for newborn mothers but for nurses on her floor who had babies at home-prompted her to take action. Giving formula to nurses, she said, went way beyond the $75 limit set for such gifts by Clarian Health Partners, the hospital network that includes IU. Glass complained…

ECONOMIC ANALYSIS: Façade of confidence saves us from anarchy

You may not know this, but every banker and policymaker does. If every one of us got out of bed tomorrow morning, drove to our banks or financial institutions, and tried to withdraw our money, the system that seems so solid today would suffer a complete collapse. The same thing would happen to the electrical grid if every device that could draw power were switched on at once. In fact, if every one of us decided today to fill up…

SPORTS: City should be tour stop for men’s or women’s golf

That sellout crowds flocked to Carmel’s Crooked Stick Golf Club for the Solheim Cup should come as no surprise. This is an area with a big appetite for golf, whether playing or watching it. Yet it’s also a reminder that for all we have accomplished in spectator sports, professional golf remains the hole in our doughnut. Yes, we have had our on-and-off forays into the arena. A PGA Tour stop, the 500 Festival Open, took place on the old Speedway…

EYE ON THE PIE: Let’s build a new New Orleans

At the moment, rescue and relocation are the primary concerns along the Gulf Coast ravaged by Hurricane Katrina. In time, restoration will become the leading issue. Most property owners from Mobile to New Orleans will want their buildings repaired or replaced. They will seek to recreate the past instead of looking to the future. A more comprehensive approach is appropriate. Let’s consider the Gulf Coast as a region, centered on New Orleans, that stretches from Florida to Texas. This area…

Can ride sharing retain your distant workers?: Companies look to car- and van-pooling to counter high gas prices that may increase employee turnover

Most concerned about higher commuting costs are employers on the periphery of Indianapolis, where there is little or no bus transportation for workers who live in Marion County. “At some point, for an hourly worker, it becomes cost-prohibitive to drive to Plainfield for work,” said Kim Woodward, director of human resources for Brightpoint Inc. The wireless phone distributor has a warehouse in the Hendricks County town that employs 611, plus about 100 contract workers. “Public transportation is not readily available,”…

Film festival seeks national attention: Heartland to use $3.7M Lilly grant on outreach efforts

Independent filmmakers visiting Indianapolis for the Heartland Film Festival often give the event glowing reviews. But after 14 years of screening and honoring such inspiring movies as “Remember the Titans,” “The Rookie” and “Because of Winn-Dixie,” organizers no longer want to rely simply on word of mouth to build a national reputation for the festival, which this year runs Oct. 13-21. Enter a $3.7 million grant Lilly Endowment Inc. awarded the not-for-profit last month to help establish it as an…

CEO Dunn not afraid to shake it up: Changes help Steak n Shake capture Enterprise Award

When an executive recruiter contacted Peter Dunn a few years ago about a top post at The Steak n Shake Co., he wasn’t sure what to think. “I wondered what kind of steaks they served with milkshakes,” he recalled with a laugh. Today, Dunn, Steak n Shake’s president and CEO, probably knows more about the company than anyone in its 71-year history. The newcomer to the restaurant industry, a Harvard grad with an MBA from the University of Virginia, has…

VOICES FROM THE INDUSTRY: The design-build option bodes well for taxpayers

In the last legislative session the Indiana General Assembly passed Senate Bill 244 to become Public Law 74, commonly known as the Design Build Law. The new legislation established the use of design-build delivery on most public works projects in the state. Initial reaction within the construction community has been mostly positive because design-build delivery has the potential to become a valuable resource for administrators of public works projects. The law went into effect July 1 and, predictably, we have…

Storm’s local impact mixed: Katrina’s aftermath will take toll on business, but rebuilding efforts might offer opportunities

Hurricane Katrina will be both a curse and a blessing to Indiana companies, which will cope with higher fuel costs and shipping problems but find themselves awash in opportunities to sell materials and machinery for rebuilding Gulf cities. Besides weathering the immediate impact of higher fuel prices, Hoosier firms will pay more for a range of goods, because of the trickle-down effect of higher shipping costs. “Our biggest concern continues to be on the ever-increasing cost of fuel. That’s s…

VOICES FROM THE INDUSTRY: Efficient, tasteful design can help maximize productivity

Productivity. Comfort. Longevity. While the old saying about location applies to most commercial real estate decisions, the issues of promoting productivity, providing a comfortable working environment and choosing materials that last become preeminent after the lease is signed. current space-is not something you do everyday. If you’re part of a mid-sized or small business, then it’s highly likely that you’re juggling real estate decisions at the same time you’re trying to advance your business. As a result of this pressure,…