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Clinic can’t pull its weight: Forest Health leaves behind $11M hospital

“They’re not the most communicative people in the world, so I don’t really have a good reason, other than the fact that I think at one point they thought they had a group of doctors to operate the clinic with, and it fell through,” said Jack Hogan, a senior vice president for Indianapolis-based Lauth. Forest Health corporate attorney Marie Paratto referred questions to Laurence H. Lenz Jr., an A bariatric surgery center built for roughly $11 million a couple years…

CFO had humble start: Eli Lilly veteran lands in high-profile, high-pressure role

Derica Rice started figuring out his future the day he glanced in his mother’s refrigerator and actually paid attention to the insulin vials stored there. Eli Lilly and Co.’s new chief financial officer recalled being home at the end of a summer. He was fresh off an internship with another company and was in casual job talks with Lilly representatives. He had seen the clear vials his mother, Inez-a Type II diabetic-stored in her fridge, but he never read the…

RETURN ON TECHNOLOGY: At home with that old computer? Prepare to be frustrated

Microsoft is yanking our chains again, and it’s your fault. Oh, perhaps it’s not your fault personally, but you’ve contributed-as has almost every businessperson in the world. We all buy Windows machines, then use Windows software on them. In return, Microsoft treats us to heaping piles of frustration, like when the company recently said that, contrary to prior announcements (and mine a few weeks ago in this space), some versions of the new Windows Vista operating system won’t be available…

BULLS & BEARS: Expect irrational behavior, and learn to profit from it

Investment theories that have dominated thinking in the last half century or so have all stemmed from the efficientmarket hypothesis. These theories assume investors make rational decisions, all financial information is known by everyone, and all markets are efficient because prices are a combination of all those things. But in the last decade or so, behavioralfinance studies have postulated that irrational behavior by investors is actually a strong driving force behind markets-and that irrational behavior can be measured and acted…

VIEWPOINT: Fraud stings firms that let down guard

Contrary to myth, occupational fraud, or white-collar crime, can attack any business at any time, especially companies that do not recognize or refuse to deal with its devastating potential. A recent study by the Association of C e r t i fi e d F r a u d Examiners estimated that 6 percent of all revenue is lost to fraud annually. That translates to more than $660 billion in annual losses across the country. The reality is fraud affects…

VOICES FROM THE INDUSTRY: A silent productivity killer: executives with addictions

Productivity losses-every business executive looks for ways to avoid them. Yet, an astonishing $40 billion in productivity gains were lost last year due to preventable selfinflicted behavior. This productivity killer typically openly manifests itself on days like Jan. 2, or more recently, on the Monday after the Super Bowl, when an estimated 1.4 million Americans called in sick after a Sunday of intense partying. A big loser? Indiana’s economy This major loss in productivity reflects rapidly growing excessive alcohol use…

Separating emotion from reality: Home-staging companies help ‘sell that house’

Shakespeare wrote that “all the world’s a stage,” but when it comes to the competitive home-sales market, one might say all the world’s about staging. Home staging-the process of making a home more appealing to potential buyers-has gained recognition through popular cable television programs such as “Designed to Sell” and “Sell This House.” It can run the gamut from repainting walls to tearing them down, or from changing window treatments to replacing windows. Interior designer Marion Stewart and her longtime…

IndyGo claims take their toll: Payout for injuries, damages hit 3-year high, a big financial hit for cash-strapped system

“If it had been a bigger bus, I’d have been dead,” said Williams, who was injured and his car totaled. IndyGo settled his case out of court for an undisclosed sum. Williams filed one of 20 tort claim notices with the Indianapolis Public Transportation Corp. last year. Those, and 10 lawsuits, seek a total of more than $2.6 million in damages. IndyGo attorneys estimate the company’s total potential liability is more like $784,350, according to records obtained by IBJ. The…

Local facility first to offer overnight help for anorexia: Lotus House fills void for those with eating disorders

A spacious home near Stony Creek in Noblesville once known as the Hare estate has been transformed into an intensive treatment facility for young women struggling with severe eating disorders. Dubbed Lotus House, the three-story residence began hosting patients in October. Partners Patrick Hall, 40, and Misty Rees, 33, founded the facility to provide an inpatient alternative to standard care. The facility, which offers therapies for anorexia nervosa and bulimia, is just the second in the Indianapolis area to treat…

INVESTING: Having an exit strategy can be a good idea

It’s been a while. When it goes this long, I like to pick up my head and look around. My “Spidey” senses are telling me there might be some danger lurking nearby. But when it stretches out like this, there could also be opportunity. The stock market has now gone almost six months without suffering a correction of more than 3.5 percent. Some people would say that is not unusual considering we are nearing the end of the traditionally strong…

Steep loss forecast for Standard Management: Company still anticipates closing deals for more financing as SEC annual report deadline looms

Standard Management Corp. is projecting a 2005 loss topping $20 million, and its stock has fallen below a minimum share price required by the NASDAQ exchange. The Indianapolis pharmaceutical-services firm also missed a deadline to file its annual report, as a push to arrange more financing “has consumed a substantial portion of management’s time and limited resources,” according to a March 31 filing with the U.S. Securities and Exchange Commission. Company leaders expect a $20.3 million loss from continuing operations….

Repairs to tower may take months: Tenants scramble for other arrangements

It was a symbol of his success. For the last three years, environmental attorney Robert Clark has relished the view from his corner office in One Indiana Square, high above the streets of Indianapolis. But on Sunday, April 2, tornadoforce winds left it in tatters. His family photos are gone. Likewise his case files and the many gifts he’d received over the years from friends or clients. “I understand there are no exterior walls,” he said. “My desk is still…

Binford med center making headway

The building skeleton planted recently at the corner of 65th Street and Binford Boulevard offers only a hint of the $29 million medical complex Ken Schmidt wants to grow there. The Indianapolis developer will add four more buildings and a separate pharmacy to the 17 acres of land he bought several years ago. The end result, he said, will be a medical plaza that offers a unique blend of services encompassing dental work, radiology and ambulatory surgery, among other specialties….

Atlas draws Fresh interest: Upscale grocery chain with a store in Carmel considers local expansion

North Carolina-based The Fresh Market Inc. has confirmed it’s interested in the former Atlas Supermarket site at 54th Street and College Avenue. “We are looking at expanding in that area and we’re looking at a lot of sites,” said spokesman Eric Blaesing. “[The Atlas site] is one of them.” He added that nothing is definite and “for every 100 sites you look at, you end up with one of them.” N e i g h b o r s hope…

BULLS & BEARS: Proxies often overlooked, but investors should care

This is the time of year for investors when a trip to the mailbox yields an armload of financial reports. Corporate annual reports come in all shapes, sizes and colors. Their purpose is to provide the investor with a view of the businesses’ performance over the past year, though some still tend to resemble marketing brochures as opposed to a candid compilation of the year’s results. An important-but often overlooked-document is included with the annual report: the proxy statement. The…

TAWN PARENT Commentary: Valued employees go the extra mile

Tawn Parent is on vacation. In her absence, this column, which appeared on May 9, 2005, is being reprinted. I fought through Castleton traffic recently to pick up a few bottles of wine at Trader Joe’s. It was a brand I’d bought before and liked. But the first bottle I opened was spoiled. So was the second bottle. I called Trader Joe’s. They said to bring the bottles back. I told them I hadn’t saved my receipt. “It doesn’t matter,”…

Financial Strategies Mortgage Inc.: Training firm meeting national demand More states require continuing education for mortgage lenders

Launched in 1998 by consultant Aaron Wilson, the training firm is cashing in on the national demand for continuing education programs. Revenue topped $5 million last year, a significant jump from the $200,000 the company collected the first year it offered classes. Financial Strategies found its focus in 2000, when the state began requiring loan officers in Indiana to take continuing education classes-even though there weren’t any classes here for them to take. Wilson jumped on the opportunity. “In one…

SPORTS: Final Four manager enjoys his shining moments

On the day after the Men’s Final Four Basketball Tournament concluded, the NCAA’s Greg Shaheen said two national champions had been crowned: The University of Florida in winning, and the city of Indianapolis in hosting. For the local organizers, that was some sweet praise coming from an NCAA guy. Sure, one could question Shaheen’s objectivity. As many know, the 38-year-old is an Indianapolis/Carmel native who not that long ago was one of those local organizers. At the 1997 Indy Final…

Tax forms not dependable as only source of NFP data:

Not-for-profit organizations’ tax filings can provide a wealth of information, from big-picture data like annual revenue and expenses to nitty-gritty details, including the CEO’s salary. But drawing conclusions-or trying to compare organizations-based only on the IRS Form 990 is difficult at best. First off, not all tax-exempt organizations are required to file tax returns. Groups with less than $25,000 in annual revenue are exempt from filing, as are all churches and many other religious institutions. And among those that do…

Ovation liquidates assets as part of Chapter 11 filing: Stores will remain open under new ownership

Indianapolis-based Ovation Audio Video Specialists has emerged from bankruptcy, and some creditors are saying they got the short end of the amplifier. The high-end consumer electronics retailer filed Chapter 11 on Oct. 14 after 19 years in business. Creditors are upset because the bankruptcy case quickly became an asset sale rather than a typical Chapter 11 reorganization. They’re also suspicious that the company’s president walked away with some of the best assets. “Although when they filed they talked about their…