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BEHIND THE NEWS: Accounting rule tempers allure of granting options Taking the plunge Adjusting to new reality

In the go-go 1990s, companies dispensed stock options to employees like candy. And why not? Under accounting rules, they didn’t have to count them as an expense. It almost seemed like free money. “You really were hard-pressed, if you were a public company, not to use options,” observed Betsy Field, a Fishers-based consultant for the benefits firm Watson Wyatt Worldwide. No more. A new accounting rule will require companies to begin recording options as an expense on their financial statements…

Neighborhood watch groups helped trigger gains against violent crime:

Folks living inside the Indianapolis Police Department’s current district worry a new distribution of police after a merger means a return to more crime-particularly the violent crime they remember from the late 1990s. Violent crime in IPD’s district peaked in 1998, when 7,856 murders, rapes, robberies and aggravated assaults were reported. It has dropped 27 percent in the six years since then. A decade ago, Waldine Anderson started a crime watch for her block on Indianapolis’ north side, between 46th…

Builders try retail approach: Estridge, Davis plan north-side home stores

Two locally based home builders are staking out retail storefronts in a bid to reach out to customers who might want to buy a new home while they’re picking up a gallon of milk or a pair of shoes. Carmel-based Estridge Cos. plans to open its HomeExperience store in Clay Terrace in late spring or early summer, while Indianapolis-based Davis Homes LLC in late April will move its showroom into a Krogeranchored shopping center at 96th and Meridian streets. For…

Unifying Indiana’s IT efforts: State’s new CTO plans to centralize computing

Indiana’s state Web portal, access-Indiana, won at least a dozen awards over the last four years. It was frequently lauded as a model of modern government efficiency-robust, reliable and user-friendly. But, according to new Indiana Chief Technology Officer Karl Browning, the reality was only skin deep. Certainly, accessIndiana is the handsome public face of state information technology. But beneath the surface, there’s a tangled mess of unconnected systems, each managed independently by a separate agency. Gov. Mitch Daniels, a Republican,…

Library project set to resume: Firms play blame game over bungled work

Steel erection for the troubled Central Library expansion is finally expected to begin next month, library officials say. But they acknowledge the start of construction on the six-story addition won’t signal they’ve finished fixing defects on the underground garage or resolved who’s to blame for them. While officials say they’re confident it’s safe to build atop the garage that will serve as the foundation for the addition, they say it will continue to undergo repairs for another year or so….

RETURN ON TECHNOLOGY: How to enjoy wi-fi ‘hot spots’ on the road

I recently stayed at a charming hotel in California that dates back more than a century. At least, it was charming to me. It’s been retrofitted many times over the years as it’s struggled to stay no more than 30 years behind the times. It has two elevators, only one of which is completely automatic. The other still has its manual operations lever, and is apparently used only for freight. Most of the room doors still have the old key…

No upcoming sunset for Sunrise Cafe:

We at the Sunrise assume it was a slow news day. We are but a small, familyowned restaurant wondering why we merited such a writeup in the [Feb. 14] IBJ. The Sunrise Cafe here at 116th and Meridian was started in 1988 and is owned by Lisa and Jim Horsfield. We also started the Keystone store in 1985 with Scott Horsfield (owner of the Sunrise Cafe at 116th and Cumberland Road) and Ralph Webb (owner of the 86th and Keystone…

ATA chief joins list of creditors: Mikelsons’ Betaco files claim for charter helicopter lease

In what burned creditors of ATA Holdings Corp. might savor as a sky-high irony, the chairman of the bankrupt airline himself is holding out his creditors’ cup. George Mikelsons says the parent of ATA Airlines Inc. owes him $179,064 for a helicopter he leased the carrier through his Betaco Inc. firm. His claim was filed Feb. 11 in ATA’s bankruptcy reorganization in U.S. District Bankruptcy Court for the Southern District of Indiana. It’s one of many unusual claims that have…

SUSAN WILLIAMS Commentary: Keep Statehouse free of ‘March Madness’

Commentary Keep Statehouse free of ‘March Madness’ “March Madness” is upon us. Downtown will play host to 37 basketball games in 37 days. Visitors from all over the state and the nation will flock to our city and be dazzled by the ambiance and excitement we have refined over many years of hosting major events. Even the most profoundly addicted hoops fans should get their cravings satisfied. As we enjoy the month’s activities, we must be mindful not to take…

Training agency slashes government reliance: Not-for-profit turns to private donations for funding

Talk about a turnaround. An Indianapolis not-for-profit that once relied on government money to pay for most of its programs has found a way to do what many others wish they could-diversify its revenue stream as public funding dries up. In less than five years, work-force development agency Training Inc. has ended a decades-long dependence on government grants and contracts. “We had to reinvent ourselves in order to survive,” said former Director Joyce Duvall, who left this month after more…

BULLS & BEARS: Americans’ lack of savings shouldn’t be misconstrued

One trait Americans have perfected is fretting. We are the most anxious of all cultures at a time when our prosperity is at its peak. According to the Federal Reserve Board’s flow of funds accounts, Americans’ household assets and net worth are at alltime highs, home ownership and homeowners’ equity are at all-time highs, and we have more money in the bank and money-market funds than we’ve ever had. Still, we are popping anti-depressants like popcorn. Even after all the…

Auction company packing up Winona: Closed hospital has potential buyer, attorney tells court Getting organized

“That’s to keep the spirits away, make ’em happy,” Brian Hayes explained as he turned past the blaring radio. Auctioneers and the occasional unexplained phenomenon have taken over Winona, as the closed hospital nears an April auction date for its remaining equipment. Hayes, of San Francisco-based Rabin Worldwide Inc., has piled up seven-day workweeks since early February cataloging and organizing the defunct hospital’s assets. All that work may go for naught, however, if the auction proposal dies in bankruptcy court…

Bart plans 3rd run: Peterson has $1.2 million in his mayoral campaign chest

And how. Peterson, a Democrat, has raised $547,836 in the year since he defeated Republican challenger Greg Jordan to earn a second term. Including funds left over from the last election cycle, his total campaign chest currently stands at $1,217,189. For now, Peterson is more than the frontrunner in the 2007 Indianapolis mayor’s race. According to the Marion County clerk’s office, he’s the only candidate yet on file. Many had speculated that Peterson, perhaps the Indiana Democrat Party’s best-known figure…

Indiana Restoration Services Inc.: Disasters send firm into action Restoration helps get homes, businesses back to normal Disasters-natural and otherwise-can strike at any moment. Floods, fires, tornadoes, even backed-up sewers and broken water pipes can

Disasters-natural and otherwise-can strike at any moment. Floods, fires, tornadoes, even backed-up sewers and broken water pipes can wreak havoc on homes and businesses. Dealing with the aftermath-waterlogged furnishings, mold, structural damage and other devastation-is what Indiana Restoration Services does 24 hours a day, seven days a week. Co-owners Dan Hanlin and Darren Peck didn’t start out with a detailed business plan to run a disaster-recovery business with $3 million plus in annual revenue. “We got into the business by…

Stadium would help more than Colts:

Like many, I remember the Indianapolis of the early ’70s. There was little reason to come downtown unless you worked there. It offered nothing after 4. It took the vision of city and state leaders to build Market Square Arena. The arena, along with the expansion of a small convention center, brought a faint heartbeat of social life and a couple decent restaurants downtown. A group of private, civic and elected officials followed Market Square Arena with the vision to…

STATEHOUSE DISPATCH: At half-time in the Statehouse, it’s politics 1, people 0

This column is typically devoted to the intersection of politics, government and business (with an occasional tortured sports analogy tossed in). We don’t usually address the higher order of the universe, but after last week, we find that we must delve into the field of metaphysics to provide you with some perspective on legislative events. March 1 marked the halfway point in the 2005 session of the Indiana General Assembly. But with more than 130 bills dying for lack of…

Ex-hospital administrator sues St. Vincent: Doctor says former employer owes him severance pay

Dr. Harry Laws blames money for the reason his tenure as the first leader of St. Vincent Children’s Hospital ended in January 2004 after only a year. Money also is the reason he decided to sue St. Vincent over the dismissal. The longtime pediatrician wants St. Vincent to pay him $230,000 in severance, according to a complaint filed in Marion County court. Laws contends that St. Vincent fabricated reasons for his dismissal and breached its employment contract with him by…

Software firm on the rebound: Move to private status, restructuring help Made2Manage move into profitability

Made2Manage Systems Inc. is beginning to make strides, both in profitability and perception, since completing its metamorphosis from a public to private enterprise 18 months ago. The software maker that staged its initial public offering in 1997 posted a peak loss of $4.7 million four years later amid a soft economy. Its health improved the following year in 2002, when losses totaled $690,000. But by then, Made2Manage executives had concluded an investor-led acquisition would be the best elixir to nurse…

GIZMOS: High-tech watch keeps information at your fingertips

The idea of a portable device to indicate the time of day is nothing new in the world of technology. Watches of various forms have been around for years. However, it’s only been in the last 30 years or so that modern technology has changed the face-literally-of telling time. Since the days of the original Pulsar LED digital watches (think red calculator digits) in the early 1970s, watch manufacturers have tried to appeal to technology’s early adopters by adding functionality…

EYE ON THE PIE: Do Indiana papers make the grade?

I’m always trying to learn more about Indiana. I suspect investors within and outside our state are also interested in what is happening in our many cities and towns. Yet no single newspaper does a good job of covering the news of the state. Nor can one hope to read all 47 daily newspapers published in Indiana. Then, along comes the Internet and the posting by local newspapers of their records of Hoosier activity. Here, at last, is our chance…