Clarian North’s slow launch doesn’t bother bond analysts
Clarian North Medical Center has stumbled out of the gate, with the Carmel hospital reporting losses in its first six months of operation that “well exceed” expectations, a new report says.
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Biofuel plans have suppliers stoked
Indiana’s plan to become the Middle East of biofuels could be a boon well beyond the rural towns that will welcome more than a dozen refineries . Firms that make and supply parts and expertise needed to build the $1.8 billion in ethanol and biodiesel plants–and related infrastructure–are gearing up.
CHRIS KATTERJOHN Commentary: Wall Street and cowboy ethics
CHRIS KATTERJOHN Commentary Wall Street and cowboy ethics Today, thanks to companies like Enron and WorldCom and to news like recent revelations about stockoption back-dating, the ethics and character of businesspeople, particularly those in corporate America, have come into question. And rightfully so. There’s been enough news of malfeasance and greed in the last decade to choke a horse. One Wall Street veteran of 35 years was so troubled by the trend that he got up in the saddle and…
Small biz struggles in big-biz computer world RETURN ON TECHNOLOGY Tim Altom:
It’s true that the rich get richer, although the rich have often learned to portray the burden on the little guy as inevitable and desirable progress. For evidence, look no further than Microsoft Office. It’s written for the Fortune 500, not for microbusinesses. Office has long been criticized as a bloated monstrosity, full of obscure features that only big corporations with time on their hands ever figure out how to use. Office products have their own programming language you can…
Volatile markets aren’t as whacky as they seem:
Even in a going-nowhere year like 2006, the ups and downs of the financial markets strike a lot of people as too much. Stock prices, in particular, are constantly described as volatile-swinging in arcs far wider than economic conditions could possibly warrant. Look at emerging markets stocks, which jumped 25 percent in the first few months of this year, then gave the whole gain back again in less than six weeks. These stocks from economies on the frontiers of capitalism,…
Some call on tradition of burying St. Joseph statue to help sell homes:
Real estate agents pushing to keep homes moving in a slowing market are increasingly looking for divine intervention. Local religious supply stores say sales are up for 4-inch-tall plastic figurines of St. Joseph. Some Catholics believe that burying the statues in a yard helps sell a house. St. Joseph statues have always sold well, but they’ve moved even faster in recent months, said Beth Kuczkowski, president of the Village Dove Inc., with stores in Broad Ripple, Fishers and on the…
Making the right move: For companies planning a relocation, months of preparation are often in order
CORPORATE RELOCATION Making the right move For companies planning a relocation, months of preparation are often in order Employees of Aprimo Inc. are settling into their new digs at Parkwood Crossing after the fastgrowing marketing-softwaremaker moved its headquarters early last month. While the building may be different, the surroundings are quite familiar. The company remains in the same office complex, albeit across College Avenue from its previous space. But don’t tell Dani Hughes, Aprimo’s human resources representative who coordinated the…
Mentoring initiative aims to grow Hispanic businesses: Applications available soon for three-year program
Leaders of the growing Hispanic community have high ambitions for a new business-mentoring program with a modest price tag. In October, the Greater Indianapolis Chamber of Commerce’s Hispanic Business Council will debut its volunteer “Mentor/Protégé” initiative, which will annually match three promising Hispanic companies to local professionals that can spur their growth. Whether the Hispanic firms need help with accounting, legal counsel, supply chains or sales, the Chamber will leverage its network of contacts. And if the threecompanies-per-year pace is…
Student sponsorship deal raises money, criticism
The Indianapolis office of Zurich-based UBS Financial Services Inc. is experimenting with “adopting” the freshman class at Herron High School as the UBS Scholars of 2010. Its foundation made a $100,000 gift to the startup charter school, and local employees made a commitment to tutor, mentor and otherwise support its first 92 students.
St. Vincent pediatric claims rile Riley
Riley Hospital for Children officials are upset over how St. Vincent Children’s Hospital is promoting a care expansion it recently launched with a renowned Cincinnati medical center.
State’s new arts leader plans to take more public role: Indiana Arts Commission’s strategy calls for Executive Director Lewis Ricci to be a vocal advocate for funding
In the fall of 2005, the Indiana Arts Commission started a rigorous study to draft its next five-year strategy. After public hearings around the state, the full 15-member arts commission voted this summer to adopt the new plan. And now commissioners have someone to implement it. The chosen man, Lewis Ricci, is itching to take over the spot and turn the commission into a bully pulpit for the importance of the arts-and the need for public funding. “Advocacy is one…
TOM HARTON Commentary: Crime takes indirect swipe at the arts
In Indianapolis, when the crime rate goes up or kids’ test scores go down, it’s not uncommon for people to point the finger at publicly funded sports facilities. “Our priorities are screwed up,” observers opine. “We spend too much money on these playgrounds for the rich, and not enough on cops, courts and public education.” The sports establishment here has been batting away this criticism for years. It goes with the territory in a city where sports is an important…
Working with the numbers: Using math, local actuaries help companies’ bottom line by analyzing risk to reduce expenses
Expanding opportunities Women make up an increasing number of the 18,000 actuaries who work in the field nationwide, but that wasn’t always the case. Kirk recalls a distinct imbalance of men and women in the actuarial field in the late 1970s. “When I first started, I was quite often the only female in professional meetings,” she said. During annual actuary conferences, “the women would kind of clump together because there were so few of us,” but that has changed. At…
Product gives Thomson better hand: New micro-camcorder boosts prospects for unit French parent wants to deal
Thomson’s latest product is a lot like the French company’s presence in Carmel, these days. Small, and getting ever smaller. With half the number of employees it had in the late-1990s, Thomson’s Americas unit here is about to be downsized yet again from its current 900-some jobs-but not before enjoying a bit of a surprise hit in a palm-size, under-$130 camcorder. The success of the Small Wonder camera-and a slicker new version due out this fall-could help frame the future…
BEHIND THE NEWS GREG ANDREWS [email protected]: With Finish Line stumbling, analysts weigh sale, LBO
Finish Line Inc.’s fortunes have dimmed so dramatically in recent months that analysts are raising a range of ideas that once seemed farfetched to boost the slumping stock. Among them: taking the company private through a leveraged buyout, or selling it to a larger retailer. The athletic-shoe industry is abuzz that an LBO for Finish Line’s struggling rival, New York-based Foot Locker Inc., is already afoot. That company last month hired a financial adviser, just weeks after Women’s Wear Daily…
Local gallery’s goal is to make Picasso more ‘affordable’: Prints from Modern Masters can fetch up to $30,000
Chris Mallon carefully removed a protective cover to unveil an original print of the Campbell’s Chicken Noodle Soup label famously depicted by artist Andy Warhol. The piece, known as a silk-screen print, is available at Mallon’s Editions Limited Gallery of Fine Art in Broad Ripple, unframed, for a mere $23,000. So is Marc Chagall’s “Violinist With A Rooster” lithograph that sells for $14,200. While the prices might seem excessive to some, they’re quite affordable when compared to actual paintings done…
New Ambassadair owner drops dues, brings back charters
The new owner of Ambassadair travel club has eliminated membership fees and will add a flurry of charter flights in January under a plan to revive an Indianapolis institution that shuttled thousands of Hoosiers around the globe for 34 years.
Museums trip out over loyal donors: Cultural organizations are offering travel opportunities to generous patrons to inform them, gain more support
With a new director in place and a $74 million renovation and expansion complete, the next step for the Indianapolis Museum of Art is courting donors to financially back the enlarged operations. Those who pledge at least $2,500 to the IMA are invited to accompany, at their own expense, IMA Director Maxwell Anderson and his wife on a cruise in the fall of 2007 to Spain, France and Italy. The excursion coincides with the opening next year of the museum’s…
Cummins learned lessons after getting battered by recession
Little more than six months after Theodore M. “Tim” Solso took the CEO reins at Columbus, Ind.-based Cummins Inc. from James Henderson in January 2000, Cummins was slammed by “the deepest and longest recession in the history of the company.” Those days are ancient history.
ECONOMIC ANALYSIS: Productivity is going up, but what’s the cause?
It’s all quite clear as economists draw it up on their blackboards. Growth in productivity-defined as the output produced per person-hour of labor-is what ultimately allows us all to enjoy a higher standard of living. When we collectively produce more, we earn more. Or, to put it another way, we can afford to pay ourselves more without provoking inflation. And since the midpoint of the last decade, the measures of economy-wide productivity produced by the U.S. Bureau of Labor Statistics…