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Browning launching $10 million equity fund: Firm seeking investors for local industrial properties

After 28 years in the real estate development business, Browning Investments Inc. is inviting investors to take a cut of some of its deals. The locally based firm plans to launch a private investment fund to buy properties, mostly central Indiana industrial buildings. Browning officials are working on raising $10 million in equity for a fund that will leverage debt to acquire $30 million to $40 million in properties. They hope the fund will be the first of several. The…

Herron-Morton planning grows beyond art campus: Foundation hopes to redevelop 3 nearby buildings

Members of Herron-Morton Place Foundation Inc. are ecstatic that city planners chose their proposal to rehabilitate three vacant buildings as part of a larger redevelopment of the former Herron School of Art campus. The dilapidated structures, known as the Foundry buildings, are a block east of the campus. Under the foundation’s plan, they will be transformed into retail shops and should benefit from the foot traffic generated by the revitalization of the Herron property on 16th Street. But now comes…

Child-safety concerns lead to new division: Company uses R&D to manufacture innovative car seat

Indiana Mills & Manufacturing Inc. is creating a new division, launching a new product, and cutting a new path straight to retail consumers. It’s a big departure from the 45-year-old company’s historical path to profitability. Westfield-based IMMI has long made its money supplying a lengthy list of manufacturers and distributors in the transportation and heavy-equipment sectors with its innovative seat belts, rollover systems for heavy trucks, and restraint systems for school buses and on- and off-road commercial vehicles. But company…

Bob Wilson & Associates Inc.: Consultant helps companies predict workers’ potential Personality test provides key information to guide businesses’ personnel decisions

Personality test provides key information to guide businesses’ personnel decisions It may not be fortunetelling, but the Predictive Index gives important clues about an individual’s success or failure in certain jobs. In Indiana, Michigan and Ohio, the trademarked personality test is licensed to Bob Wilson & Associates Inc., a Carmel consulting firm that works with more than 200 companies, helping with hiring, retaining, managing and motivating employees. The firm also works with corporations on strategy and other management services. Wilson,…

SPORTS: Why big-league baseball has become bush league

The Great American Pastime is past my time. I’ve pretty much ceased to care about Major League Baseball. Note that I said “major league.” I remain very much a fan of the Indianapolis Indians and the experience to be had in the country’s very best minor-league ballpark, Victory Field. I do know, albeit casually, that going into the last week of the regular season, there was considerable sorting out to be done before playoff participants could be determined, that the…

Speaking of health care: Local experts weigh in on rising costs, the uninsured and whether our current system needs an overhaul Public health priorities, executive salaries and the “gold rush” of health care construction were among the topics tackled Sept

Public health priorities, executive salaries and the “gold rush” of health care construction were among the topics tackled Sept. 21 in the latest installment of Indianapolis Business Journal’s Power Breakfast Series. IBJ reporter Tom Murphy moderated the panel discussion, attended by some of the area’s foremost health care experts. Following is an edited transcript of the often-spirited discussion, which included a brief interruption by protestors seeking medical insurance coverage for janitorial staff who clean Anthem Inc. buildings. IBJ: Can you…

Insurer may be low on targets: WellPoint’s latest megadeal could be last for a while

A lack of available targets may steer Well-Point Inc. away from its diet of multibilliondollar acquisitions after it digests the latest purchase, New York-based Blue Cross/Blue Shield insurer WellChoice Inc. That, in turn, might slow the company’s frenetic growth rate, according to analysts who follow the health insurance industry. Blockbuster deals like the $20.8 billion merger that created WellPoint last year swelled the health insurer into the biggest player in its industry. In 2004, it reported a $960 million profit,…

ABDUL-HAKIM SHABAZZ: Listen to a tale of two Indys

“It was the best of times, it was the worst of times … .” That is the opening sentence in the Charles Dickens novel, “A Tale of Two Cities.” The book is set against the backdrop of the French Revolution, a revolution where the poor and oppressed eventually rise up against the aristocracy. And while I’m not about to say 2005 Indianapolis is anything like 1789 Paris, I cannot help but wonder if, just like France of the 18th century,…

WellPoint company slapped over Medicare: AdminaStar Federal agrees to pay $6 million to resolve old fraud allegations

A WellPoint Inc. subsidiary has agreed to pay $6 million to the federal government to resolve whistleblower accusations of rampant Medicare fraud over a seven-year span in the 1990s. AdminaStar Federal altered claims information, overcharged the government, and even hung up on customers to reduce call times and improve evaluations, according to civil lawsuits filed by several whistleblowers in 1999 and 2000 in U.S. District Court for the Western District of Kentucky. The Indianapolis-based company administers and processes Medicare claims…

New Citizens chief faces tough crowd: High gas prices, cranky industrial customers await Lykins

For seven days each July, Carey Lykins hikes a leg over his Trek touring bike in hopes of conquering Iowa. The [Des Moines] Register’s Annual Great Bicycle Ride Across Iowa is a grueling 471 miles between the Missouri and the Mississippi Rivers. “It can be brutally hot, but it’s a real adventure,” said the 53-year-old Lykins. The same could be said for the tour Lykins began Oct. 1 as president and CEO of Citizens Gas & Coke Utility. The 32-year…

Coalition targets disparities in minority health care: Group enlists CEOs to help it develop plan of action

Black people are nearly twice as likely to have diabetes than white people, less likely to engage in leisure activity and, on average, die five years earlier. Those statistics from the Centers for Disease Control provide motivation for a local consortium that wants to improve health care for minorities. Known as the CEO Health Disparities Roundtable, the year-old group has moved from setting objectives to developing a plan of action. The plan is aimed at reducing health care disparities among…

BULLS & BEARS: Even after public dissing, analysts still too upbeat

Where can a retail investor go to get accurate recommendations and opinions on a stock? Back in the old, old days, an investor would call a stockbroker, also called a “customer’s man,” and get a copy of a research report. Only good clients could get the research reports so there was an air of exclusivity about them. Or if an investor were really diligent, he could go to the public library and leaf through the super-thin pages of the giant…

BEHIND THE NEWS: Is exec a fraud or just bad at business? A jury will decide

Forget Disneyworld. The real excitement in Orlando, Fla., this fall likely will be in a federal courtroom, where Carmel native James T. O’Neal Jr. is scheduled to stand trial on charges he swindled millions of dollars from the rich and famous, including high-profile Indianapolis businesspeople. A federal grand jury indicted O’Neal a year ago on 82 felony counts of money laundering, mail fraud and filing false tax returns. If the 12-person jury finds the 60-year-old Orlando resident guilty, he could…

RETURN ON TECHNOLOGY: Don’t let unclear language doom your next project

At a meeting the other day, an acquaintance shared a story about getting a “Webinar” together for his organization. A Webinar is like a seminar, only performed entirely online. The presenter is usually seen in a small, jerky video, but often there’s not even that much visual stimulation. In many cases, it’s just a series of slides and a voice. Most Webinars are no more interesting than inperson seminars, but at least you don’t feel as noticeable if you have…

EYE ON THE PIE: Is our child care ‘industry’ up to snuff?

Recently, I have been part of a study for the Indiana Child Care Fund. It has been a learning experience. The first thing I learned is that virtually nothing is known about child care. We do not really know how many child care facilities exist in Indiana. Data from the U.S. Bureau of the Census suggest there are more than 16,000. However, fewer than 5,800 are licensed or recognized by the state. In addition, there are informal child care arrangements…

Utility fund-raising effort takes heat for opt-out strategy: Critics say customers should be asked if they want to contribute to Operation Round Up-or any charity

The concept is a noble one: By rounding their bills up to the nearest dollar, utility customers can turn pennies into a philanthropic windfall for a worthy cause. Indeed, Operation Round Up programs at nearly 250 electric cooperatives nationwide-including 22 in Indiana-have collected more than $50 million for charity since the fund-raising effort began in 1989. But some observers question the method most participating utilities use to get their members involved. Rather than being asked to give, residential and commercial…

Texas group roaring for Indians stock: Lion Fund dangles 40-percent premium for ballclub’s shares

A San Antonio-based hedge fund’s public solicitation of Indianapolis Indians stock is akin to a hostile takeover attempt, industry observers said. It also brings into question the succession plan of the Indians’ 72-year-old chairman, Max Schumacher, who owns 39 percent of the company’s stock. While officials for The Lion Fund LP said they aren’t looking to take majority control of the city’s AAA baseball franchise, they’re willing to pay a substantial premium over the Indians’ last buyback offer of $9,200…

Parents banking on storage of umbilical cord blood: Founder keeps research alive through Genesis Bank

Blood from the umbilical cord of a baby expected to be born in Indianapolis later this month will be collected after her birth and saved for her 5-year-old sister, who has been diagnosed with cancer. The stem cells extracted from the baby’s umbilical cord blood might someday save the life of her sibling. While doctors at Riley Hospital for Children wait and see if the young cancer patient responds to standard treatment over the next couple of years, the stem…

Expanding adult market might boost Strattera sales: Eli Lilly looks for rebound of struggling ADHD drug

One of the main benefits touted by Lilly is that Strattera is the only ADHD drug on the market that is not a stimulant, meaning users are less likely to abuse it. The makers of Adderall and Concerta have advertised their drugs in magazines geared to parents of kids with ADHD. And Lilly has been running television ads aimed at adults who may not realize they have the disorder. ADHD symptoms include impulsivity, trouble concentrating, disorganization, procrastination and hyperactivity. Several…

M-Plan might be ready to deal: State’s No. 2 health insurer talks merger with Ohio firm

M-Plan Inc., Indiana’s second-largest health insurer, has entered preliminary talks that could lead to a merger with Ohio’s oldest medical insurer. A source familiar with the discussions said they have centered on merging M-Plan’s Indianapolisbased parent, The HealthCare Group LLC, with Cleveland-based Medical Mutual of Ohio. The source, who asked not to be identified, said Medical Mutual would end up with the majority stake. M-Plan, a nearly 20-year-old insurer owned partly by the city’s Clarian and Community hospital systems, would…