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Republic Airways ponders employee concessions: But union complains about ‘disingenuous’ memo

March 7, 2005

A memo by Republic Airways warns of the need for employee concessions if ailing partner U.S. Airways ceases operations, Teamsters officials said. The union representing 1,000 cockpit crew members and 600 flight attendants at Republic’s Chautauqua Airlines unit has found itself-not the Indianapolis company-on the defensive, however. Union leaders are wrinkled at what they say is a disingenuous memo Republic CEO Bryan Bedford sent to workers about seven weeks ago, alleging that the union has withheld information from pilots and…

Charter One Bank plans Indiana growth: Acquisition allows new owner to leverage 60 branches

March 21, 2005

Two and a half years ago, Charter One Bank had nary a single Indiana branch. Since then, it’s quietly built 60. Charter One is preparing an all-out assault on the Indiana bank market. Under the leadership of its new Indiana president and CEO, Norman S. Hatch, the bank plans to add 10 branches in 2005 and increase its Indiana head count from 400 to 500 employees. Hatch, who took charge Jan. 2, had been vice president of middle-market banking for…

Lilly faction seeks split of exec roles: Shareholder group wants to separate chair, CEO jobs

March 21, 2005

The shareholders think Lilly should separate its chairman and CEO roles. Sidney Taurel currently holds both jobs and the title of president. The group wants an independent chairman. It’s one of six shareholder proposals on the agenda for Lilly’s April 18 annual meeting at its headquarters. The move would address “a leadership crisis at our company” created by the lack of access to affordable medicines, according to the proposal listed in Lilly’s recently filed proxy statement. Lilly’s board disagrees and…

Chicago Express is not only asset ATA Holdings to jettison: More than $1.7 million for Boeing 727s won’t land in ATA’s pocket

March 28, 2005

As ATA Holdings Corp. prepares to ditch its Chicago Express commuter line after a tiresome series of low-ball bids, another batch of its aircraft about to be sold won’t fetch much attention-or even a dime-for the Indianapolis carrier. Up to seven of ATA’s former Boeing 727s and as many as 20 engines for the tri-engine aircraft are to be sold by early April for at least $1.7 million, according to documents filed by ATA earlier this month in U.S. District…

State tourism effort set for new format: Lawmakers create separate department; supporters think changes could lead to less bureaucracy, more funds

April 4, 2005

After years of languishing in the Department of Commerce, lawmakers passed legislation late last month creating a separate Department of Tourism and Community Development that will report to Lt. Gov. Becky Skillman starting July 1. The commerce department already has been dissolved, effective Feb. 1, and the state’s economic development programs have been handed to the new Indiana Economic Development Corp. Tourism supporters are hopeful that by removing a layer of bureaucracy, the department can capture more funding. “It was…

New owner brings hope for Eastgate property: Demolition would pave way for redevelopment

April 11, 2005

Every end is a beginning, the proverb goes. Accordingly, the probable demolition of nearly vacant Eastgate Mall by new owners JTL Capital LLC isn’t causing much heartbreak among city officials and east-side residents. “I was thrilled to hear they plan to demolish [Eastgate],” said Ruth Ann Walker, a member of the Warren Township Development Commission. “It opens that parcel up for bigger and better things.” What that might be isn’t yet clear, and Dallas-based JTL so far has divulged little…

With cash tight, ATA trading new planes for old: Smaller version of 737 can be loaded and unloaded more quickly, allowing for more flights per day

April 18, 2005

Plans by ATA Holdings Corp. to slash its number of aircraft by nearly half include replacing its sleek, new jets with smaller, older Boeing 737s that can fly more trips daily, generating more cash than the larger planes that now dominate its fleet. The Indianapolis-based parent of ATA Airlines wants to lease a dozen 737-300s and 737-500s-relatively stubby planes that date as far back as 1984. Meanwhile, ATA is returning 18 of the 33 Boeing 737-800s it had at the…

Special Report: Flawed funding: Years of guaranteed increases set stage for school crisis

April 18, 2005

Indiana’s decades-long effort to protect shrinking school corporations from drastic cutbacks may well backfire on the very districts that most depend on it-including Indianapolis Public Schools. Critics say the promise of more money regardless of enrollment has allowed some school systems to bloat their budgets, and now state legislators are poised to let the air out. School funding already represents more than one-third of Indiana’s $24 billion, twoyear budget, and lawmakers want to rein in expenses and eliminate a projected…

NOTIONS: Race for the cure; reach for the phone

April 25, 2005

Spring has exploded in my urban garden. The climbing hydrangeas race up the trellises. The perennials ascend toward azure blue. And the flowering crab has erupted like a Fourth of July firework. It was a hard winter for us. Last fall, two shrubs by the stone bench turned brown and we couldn’t save them. In December, the blue spruce by the back gate shed its needles and died. And my fellow gardener, who planted this place and nurtured it with…

Experts see improving market: Higher occupancy rates, more construction projects mean good news for landlords, developers

April 25, 2005

IBJ: Is your sector of the construction or real estate industry better or worse off than a year ago and why? BURK: Overall, I think the Indianapolis office market is better off than it was a year ago. The occupancy rate for the 29-million-plus square feet of multitenant office properties in the market increased by about 2 percent last year, to 82.5 percent. There was positive net absorption of about 600,000 square feet, most of which occurred in the suburbs….

Massive retail project on tee: Britton Golf Course buyers plan 85-acre development that could rival Clay Terrace

April 25, 2005

The development group that invested $16 million to buy Britton Golf Course in Fishers is pressing forward with its plan to convert the property into a retail center that would rival Clay Terrace in Carmel. The purchase earlier this month, following Fishers Town Council approval, represents the first significant real estate project for the group of local investors formed under the Britton Park Development LLC name. Bordering State Road 37 and East 131st Street, the 104-acre golf course is the…

New Symphony Bancorp raises $15 million: Nearly 200 investors stake quality-service-oriented de novo bank on Marion-Hamilton county line

May 2, 2005

Flush with $15 million, Symphony Bank is nearly ready to take the stage. A group of nearly 200 investors contributed the money necessary to underwrite the new bank, which will be at 3737 E. 96th St., just south of the border between Hamilton and Marion counties. Symphony Bancorp President and CEO Steve Tolen said dedication to customer service will differentiate his de novo bank from its stiff competition. “When we looked at the marketplace, we felt while we may be…

IU planning logistics center: University seeks funds for facility to provide services to TDL industry

May 2, 2005

Indiana University officials say they’re shopping for a site near the airport or in Plainfield for a laboratory to help grow the state’s transportation-distribution-logistics industry-known as TDL. The IU Supply Chain Control Center would evaluate for companies the feasibility and cost benefits of new technologies that could be used to improve sourcing, production and product distribution. The service would be provided at no or little cost. But the center faces a logistics challenge of its own-a delivery of cash. IU…

Heartland Golf Cars and Equipment Co.: Golf cars have become hot commodity Local firm has ridden the trend to profitability ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business, he

May 23, 2005

ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business, he advises, “Don’t go into it on a shoestring. You have to have a business plan and be committed to working long hours. It’s not only working harder, it’s the workmanship, too. It may sound like an old clichÃ©, but it’s very true.” * Golf cars are no longer just for sport. These electric- or gasoline-powered cars may…

Interns follow unique paths: Some internships offer more freedom, creativity

June 6, 2005

Internships can offer valuable learning experiences for college students looking to land the ideal job following graduation. But few provide an opportunity quite like the one extended by the Indianapolis Cultural Development Commission in its quest to market the city as a cultural destination. By summer’s end, three undergrads will have traipsed the Hoosier state visiting fairs and festivals in a van decorated with the large, red arrow becoming synonymous with the promotional campaign. Whether their itinerary includes stops at…

City to land more aircraft mechanics: Lease calls for Republic to add 186 jobs

June 13, 2005

Republic Airways Holdings plans to add nearly 200 aircraft maintenance jobs at Indianapolis International Airport, based on employment projections in a lease the carrier recently signed for a new hangar. The Indianapolis-based regional carrier that employs 114 mechanics here “agrees to use commercially reasonable efforts to achieve average employment of 300 full-time Indiana resident employees at the facility … at an average salary of $18 per hour during the first year,” states a lease signed April 15 with the Indianapolis…

SPORTS: ‘Our’ future extends beyond Marion County line

June 13, 2005

NOBLESVILLE-That Gov. Mitch Daniels, aboard his RV-1, was caught in the daily late-afternoon I-69, State Road 37 traffic snarl and was a half-hour late for his Hamilton County town meeting here last week represented a theme of his presentation. We are no longer a city, but a region. With that in mind, Our Man Mitch has been venturing to the counties contiguous to Marion, pitching the pending 1-percent food and beverage tax that will supply a small-emphasis on small, an…

VOICES FROM THE INDUSTRY: Indiana must not let TDL opportunities elude its grasp

June 13, 2005

Unlike some other Hoosier economic initiatives, much of the required infrastructure to rapidly advance TDL into significant growth is already in place. More Interstate highways cross the state An economic development analyst determining the physical advantages of Indiana might initially be challenged. Indiana has no oceans. No mountains. No temperate climate. But the Hoosier state does possess one singular unmatched physical plus: It is the state geographically closest to the bulk of most U.S. major markets. For more than a…

Rose-Hulman looks ahead: Search for new president could take a year

June 20, 2005

But trustees currently have a higher priority: Let the dust settle. “It’s only been a couple of days,” said Rose-Hulman Chairman Robert Bright. “Nothing’s been established for sure yet.” It took the Terre Haute engineering school 10 months to find and narrow the field of 60 candidates that produced Midgley-nearly the length of his presidential stint. Most expect the search for his successor to last at least as long. In the meantime, Rose-Hulman has a more pressing task. It must…

Debate over health care development takes legal twist: Three county-imposed construction moratoriums face federal lawsuits

June 20, 2005

Hospitals and developers recently filed lawsuits in U.S. District Court against three counties that enacted moratoriums to slow health care construction in their territory. The Sisters of St. Francis Health Services Inc. sued Morgan County in April, and some Kentucky-based companies filed complaints against Clark and Floyd counties June 13. County officials say they need to make sure their county-owned hospitals remain viable in the face of more development. They also argue that providers want to enter their turf and…

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Articles

Republic Airways ponders employee concessions: But union complains about ‘disingenuous’ memo

Charter One Bank plans Indiana growth: Acquisition allows new owner to leverage 60 branches

Lilly faction seeks split of exec roles: Shareholder group wants to separate chair, CEO jobs

Chicago Express is not only asset ATA Holdings to jettison: More than $1.7 million for Boeing 727s won’t land in ATA’s pocket

State tourism effort set for new format: Lawmakers create separate department; supporters think changes could lead to less bureaucracy, more funds

New owner brings hope for Eastgate property: Demolition would pave way for redevelopment

With cash tight, ATA trading new planes for old: Smaller version of 737 can be loaded and unloaded more quickly, allowing for more flights per day

Special Report: Flawed funding: Years of guaranteed increases set stage for school crisis

NOTIONS: Race for the cure; reach for the phone

Experts see improving market: Higher occupancy rates, more construction projects mean good news for landlords, developers

Massive retail project on tee: Britton Golf Course buyers plan 85-acre development that could rival Clay Terrace

New Symphony Bancorp raises $15 million: Nearly 200 investors stake quality-service-oriented de novo bank on Marion-Hamilton county line

IU planning logistics center: University seeks funds for facility to provide services to TDL industry

Heartland Golf Cars and Equipment Co.: Golf cars have become hot commodity Local firm has ridden the trend to profitability ram said. He credits solid financing at startup as key to the success of Heartland. To anyone interested in starting a business, he

Interns follow unique paths: Some internships offer more freedom, creativity

City to land more aircraft mechanics: Lease calls for Republic to add 186 jobs

SPORTS: ‘Our’ future extends beyond Marion County line

VOICES FROM THE INDUSTRY: Indiana must not let TDL opportunities elude its grasp

Rose-Hulman looks ahead: Search for new president could take a year

Debate over health care development takes legal twist: Three county-imposed construction moratoriums face federal lawsuits