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Articles

BEHIND THE NEWS: Smulyan bid puts Emmis board member Bayh in hot seat

July 10, 2006

Susan Bayh is at ease in the corporate world. The wife of U.S. Sen. Evan Bayh is a former Eli Lilly and Co. attorney who now serves on six public company boards, collecting more than $400,000 in fees a year. Among those companies are Indianapolis’ WellPoint Inc. and Emmis Communications Corp., where she serves as lead director of the eight-person board. But even the 46-year-old boardroom veteran must be feeling a little banged up these days. That’s because at Emmis,…

INVESTING: Time to ditch widely touted-but wrong-investing rules

July 3, 2006

We love a good conspiracy in America. The FBI just spent millions of dollars looking for Jimmy Hoffa again, and again came up empty. We’ll be talking about who killed JFK until our grandkids are gone. Today, I am going to start a new one, and when you read this you are going to want your finance professor’s head on a platter. There is a conspiracy to keep you from making money. I can’t pinpoint the exact beginning of the…

Distributor hits 2nd century in growth mode: Indiana Oxygen uses Ohio outlet, Internet to expand

June 12, 2006

The Indiana Oxygen Co. building is highly visible to motorists traveling Interstate 465 on the northwest side, but the company’s forte isn’t as widely known. Founded in 1915, Indiana Oxygen is the oldest gas and welding supplier in the United States. But to the surprise of many, the medical relationship the name implies hardly exists. Despite the confusion, the company’s flame burns bright, as annual revenue this year will top $30 million. Part of Indiana Oxygen’s recent growth stems from…

PROFILE DAVE BROWN: Passion for history, people drives manager’s hobby

June 5, 2006

Instead, Brown transforms himself from a 21st century theater director for the IMAX 3D Theater at White River State Park into a 19th century Civil War soldier as a re-enactor with Indianapolis-based Mid States Living History Association Inc. Brown’s interest in the past began as a child. He was fascinated with older people in his small town of Hagerstown, Ind. “I would sit at the old soda fountain in the drugstore and talk to old folks about their lives and…

Hazmat conference to stress preparation: Topics include corporate readiness, Katrina lessons

June 5, 2006

Organizers of the Indiana Hazardous Materials & Environmental Safety Conference are hoping Hurricane Katrina’s demonstration of mass destruction will be a wake-up call for businesses and communities ill prepared for disaster. Corporate participation in the 18-year-old conference has waned a bit in recent years as hazardous and safety planning became more standardized. Some companies have become too detached after outsourcing their emergency preparation to consultants, said Stephen Nash, chairman of the Indiana Forum for Environmental Safety, which sponsors the June…

Conrad high-rise condos sell fast: Only 4 of 15 residences left; biz leaders among buyers

May 29, 2006

Eli Lilly and Co. President John Lechleiter is among the wealthy buyers who have snapped up all but four of the 15 private residences perched atop the Conrad Hotel downtown. Lechleiter will be on the 23rd floor, one level from the top. Pete Piazza, president of Piazza Produce Inc., will be on the 22nd. And insuranceindustry executive Jack Mead will be on the 21st. The 15 residences fill the top six floors of the new $100 million tower. They start…

Executive Pay Special Report: WORTH IT?: Top brass still collects big packages, but ties to company performance grow

May 29, 2006

Michael Doar once had to give back part of his salary. How times change. Now CEO of Indianapolis-based Hurco Cos. Inc., Doar offers more bang-for-the-buck than any chief executive in the state, according to an in-depth study of salaries and shareholder returns by IBJ. One would shudder at the t h o u g h t o f Hurco’s board asking Doar to forfeit a penny of his modest salary, as he did one year in the ’90s when the…

Entrepreneurs keep day jobs: Moonlighting helps owners mitigate startup risks

May 29, 2006

Inventions at various stages of development are scattered around Qamar Shafeek’s ranch-style home on Indianapolis’ east side. An unnamed doohickey attached to a curtain rod pulls drapes open and shut along with the sliding glass door. A voice box gadget tells the single father when the garage or side doors open, alerting him to his children’s comings and goings. And a plastic pinwheel with tennis balls attached to the ends is making its way from a napkin-sketch idea to a…

Area construction employment surging: Workers stay busy as industry experiences 15 consecutive months of job growth

May 22, 2006

Building tradesmen in central Indiana don’t need a mind-numbing jobs report to tell them construction workers are in high demand. They need not look any further than their apprentice programs and union halls to gauge the industry’s health. The way the barometer works is simple: Full apprentice classes mean contractors are hiring and empty union halls mean they’re working. “When the benches are empty, that’s a good thing,” said Mike Kerr, a principal at locally based contractor F.A. Wilhelm Construction…

Pepper, others commended for their safety programs: Area contractors turn to technology to track job-site performance

May 22, 2006

Hand-held computer devices are becoming as common as hardhats and heavy equipment on the job sites of Pepper Construction Company of Indiana Inc. The Chicago-based contractor’s Indianapolis location began using the hightech gadgetry about 18 months ago to track job-site safety and tie the results to bonus amounts awarded to supervisors. While the company has tracked safety performance for years via written reports, the new system lets everyone from executives to subcontractors view the information almost immediately after it’s loaded…

Battle of the brands: Planners go back to drawing board after city slogan nixed

May 15, 2006

They thought they had a winner with The New Midwest. They even had the logo-a stylized “I”-all figured out. And a color palette. But then they hit a bump in the road. When Mark Miles became CEO of the Central Indiana Corporate Partnership in January, he joined the big group and said the slogan was a dud. At the least, he said, participants should run it by focus groups. They only had to run it by two before they realized…

Selling change at Lilly: Company overhauls strategy its thousands of sales reps use to tout drugs to doctors

May 15, 2006

Eli Lilly and Co. is rolling out a new approach to selling drugs, one that aims to build deeper relationships with doctors while cutting the number of sales reps knocking on their office door. The reorganization project, dubbed “sales force of the future,” is just what the doctor ordered, according to Lilly executives. They say physicians want fewer sales calls and a deeper knowledge base from those who still stop by. “Doctors want that primarily because they’re treating patients and…

Former Lilly exec to head CoLucid: White leaves Boston firm to return to Indiana

May 8, 2006

CoLucid Pharmaceuticals Inc., a drug development company Eli Lilly and Co. spun out last year, has attracted Jim White as its first CEO. White was a longtime Lilly executive before spending the past five years in Boston helping grow Hypnion Inc., another pharmaceutical startup that so far has attracted $80 million from venture capitalists. “We have a lot of great talent in the state that leaves because we haven’t had the kind of jobs to retain those folks,” White said….

ECONOMIC ANALYSIS: A primer on understanding the mystery of gas prices

May 8, 2006

You usually don’t get a lot of space when you write a letter to the editor of your local newspaper. So when I’ve read those despairing cries of outrage and mystification at the behavior of gas prices recently, I have managed to resist the urge to respond in kind. Explaining energy prices-or any price, for that matter-isn’t quite as hard as hitting a curve ball in baseball, but both explanations take more than the 3 or 4 inches of column…

Refiner enjoys oil boom: Calumet Specialty Products sees stock price take off

May 8, 2006

Indianapolis is headquarters for Little Oil-Calumet Specialty Products Partners LP. Few locally have heard of the west-side refining and petroleum products company, let alone of its Jan. 25 initial public stock offering that raised $144 million. Calumet is controlled by an equally obscure group of families that still own the bulk of company shares. Yet shares of little Calumet-sales last year of $1.3 billion-are up 40 percent since the January IPO intended to fuel acquisitions. The appreciation is partly due…

Bloomington’s Cook tightens women’s health focus: New business unit plans summer product rollout

May 8, 2006

Privately held Cook Inc. has added a seventh business unit in a bid to strengthen its presence in the growing market for gender-specific health care products, a move that could bring jobs to southern Indiana. The Bloomington-based medicaldevice maker will unveil its Women’s Health unit May 8 in Spencer. The unit actually started operating last September, initially taking on a combination of products pulled from the company’s urological unit, also in Spencer. But Women’s Health leader Christina Anné said it…

CHRIS KATTERJOHN Commentary: Textbook cases of entrepreneurism

May 1, 2006

You get an idea; you build a business; you sell it and make a bundle. So it was with the recent deals that took out IBJ’s No. 1 and No. 2 fastest-growing companies from 2005, Performance Assessment Network and Suros Surgical. We can bemoan the loss of headquarters, but let’s face it, these are the kinds of payoffs most entrepreneurs dream of. In just a little over five short years, PAN investors put up $7.5 million in capital and sold…

At age 2, Future Fund still work in progress: So far, 7 startups have received investments from BioCrossroads

May 1, 2006

For two years now, the $73 million Indiana Future Fund has been at work in the Indiana life sciences market. BioCrossroads, Indiana’s public-private life sciences economic development initiative, is pleased with the results so far. “When we put the Indiana Future Fund together and surveyed the landscape, there were only two or three [local venture capital] firms that really identified themselves as in [the life sciences] area,” said BioCrossroads President David Johnson. “Now we see much more traffic than we…

Ivy Tech to focus more on results, not just growth: Student success and broader ties with employers among goals of community college system’s five-year plan

April 24, 2006

After growing its enrollment 75 percent the last decade, Ivy Tech Community College of Indiana is shifting its focus to student retention. A top administrator also wants to expand the number of training courses offered at businesses, as a way to supplement the system’s $253 million annual budget. Some who’ve studied the state’s educational system have recommended that Ivy Tech spend more to hire additional full-time faculty to strengthen its effectiveness. The school’s five-year student retention plan calls for doubling…

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

April 17, 2006

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…

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