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Audits give high marks to drug-testing programs: Labor organization says results show effort is working

March 27, 2006

Owners of building projects in central Indiana need not worry about laborers from certain organizations showing up for jobs with bloodshot eyes or slurred speech. Audits conducted on drug- and alcoholabuse testing programs operated by some of the state’s labor groups confirm what most in the industry say they already knew-that the system is working. The inspections were done at the urging of the Metro Indianapolis Coalition for Construction Safety, a local voluntary program of construction contractors, subcontractors and the…

Federal patent legislation could mean major changes: Proposed reform act could cut down on ‘trolling’ and litigation by switching approvals to a first-to-file system

March 20, 2006

Pending federal legislation could bring sweeping changes to a patent system critics say is broken and in need of repair. The Patent Reform Act-before Congress since last year-presents the most substantial overhaul in decades. Significant changes include creating a process to challenge patents after they are granted and awarding a patent to the first person to submit paperwork. Patents currently are granted to the first person who hatched the invention, regardless of when documents were filed. Time frames, though, can…

Hospitality madness: City wants to grow reputation as Final Four’s ideal site

March 20, 2006

Bill Evans’ phone rang at 11 p.m. It was a basketball team. The players wanted milkshakes. He popped up like he was bouncing on one of those mini-trampolines mascots use to dunk basketballs at halftime. He tapped his partner on the shoulder. They rolled two coolers to the downtown Steak n Shake. He ordered milkshakes. Large ones. Two for each player. They put the shakes in the coolers and rolled them through the downtown night to the team hotel. The…

WellPoint freezes pensions: Insurer joins national trend, shifts focus to 401(k) plan

March 20, 2006

WellPoint Inc. quietly froze pension contributions for most of its 42,000 employees earlier this year, a move that draws criticism but falls in step with what many other big employers are doing. The Indianapolis-based health insurance giant noted deep in an annual report filed late last month that on Jan. 1 it stopped adding pay credits to the pension accounts of employees not nearing retirement. The insurer rang up a $2.5 billion profit last year and, unlike some other companies…

Markey’s sells off sales unit: Move by audio-visual firm creates new tech company

March 20, 2006

Markey’s Audio Visual, a south-side company that’s decked the stage for some of corporate America’s flashiest meetings and conventions, has sold its equipment sales and integration unit to a new firm owned by a competitor and by a family member. Sensory Technologies is held by Anne and Andy Sellers, principals of Indianapolis-based Video Images LLC-and by Kevin Markey, who headed Markey’s sales and integration. The sale last week, for an undisclosed price, allows the 47-year-old Markey’s to focus on its…

Lilly says hands off Gemzar: Drugmaker files suit to keep cancer drug off generic market

March 13, 2006

Fresh off one blockbuster patent defense, Eli Lilly and Co. mounted another last month when it filed suit to protect its billiondollar cancer drug Gemzar. The Indianapolis drugmaker sued Teva Pharmaceutical Industries Ltd. and a subsidiary, Sicor Pharmaceuticals Inc., to prevent them from selling generic versions of Gemzar, which treats several forms of cancer and comprises 9 percent of Lilly’s worldwide sales. Lilly learned in January that California-based Sicor had filed so-called “abbreviated new drug applications” with the U.S. Food…

BEHIND THE NEWS Auditor jabs Obsidian as it prepares to go private:

March 13, 2006

If all goes as planned, a Tim Durham-led investment group will take publicly traded Obsidian Enterprises Inc. private by the end of the month. The Indianapolis company’s five-year run on Wall Street has been inglorious by any measure. Stock in the transportation and manufacturing firm has tumbled, from a split-adjusted $12 in 2001 to $1.80 today. Over the last three years, Obsidian has posted a combined $22 million in losses. As if that weren’t enough, now the company’s former outside…

New support group aids entrepreneurs: Growing network quick to attract diverse membership

February 27, 2006

But it’s not because Roots doesn’t know how to write HTML code. Rather, he’s got so much business coming in the doors he doesn’t have any free time for turning wrenches on his own site-www.squishdesigns.com. That’s a good problem to have for an entrepreneur who’s still dotting the “i”s on his LLC application. He credits the influx of business to a new networking group for entrepreneurs that is attracting a sizeable contingent of women and minority business owners. The group-which…

Lilly shares primed for rebound?: Stock analysts say 2006 may yield a rise in price out of the $50 range

February 27, 2006

Higher new-product sales, an influx of Medicare money, and improved market conditions might be just what the doctor ordered to bump Eli Lilly and Co. stock out of the funk it settled into last spring. However, as the Indianapolis company strives to meet 2006 earnings projections, analysts still see plenty to fret about, including declining sales of the company’s top-selling drug, the antipsychotic Zyprexa. Lilly shares dipped below $60 last May and spent the rest of 2005 oscillating beneath that…

PETER SCHNITZLER Commentary: Embrace India while you still can

February 27, 2006

PETER SCHNITZLER Commentary Embrace India while you still can India will fool you, if you don’t pay attention. The term “developing nation” doesn’t begin to do it justice. Having traveled internationally a number of times before, I thought I was prepared for whatever culture shocks awaited more than 8,000 miles away. I anticipated the heaving crowds, the livestock in the crumbling streets, even the abject poverty. I didn’t expect innovation. And especially not entrepreneurship on par with the kind found…

Emerging India: Opportunity or threat?: Indiana businesses brace for growing global competition

February 27, 2006

Opportunity or threat? Indiana businesses brace for growing global competition Next month, President Bush will make his first official visit to India. To most of the American media, it’ll be just one more round of global terrorism discussions with a distant foreign nation, perhaps worthy of a brief. The Indian press knows better. Six weeks ahead of Bush’s trip, banner headlines about it ran in every newspaper. Al Hubbard knows better, too. Friends with Bush since their days at Harvard…

Bank profit see-sawed before sale: Union Fed investors may have tired of volatile performance

February 13, 2006

Union Federal Bank’s profits have gone up and down like an electrocardiogram since a group of elite investors bought a major stake in the privately held institution in 1999. That wildly inconsistent performance likely played a role in the decision by investors to sell the bank, experts say. On Feb. 3, both the bank and its parent company were sold to Bowling Green, Ohio-based Sky Financial Group Inc. for $330 million. The bank had been the thirdlargest in town. After…

‘Lighting’ the way for women in the trades: Pair overcomes obstacles with tenacity, hard work and attention to the smallest detail

February 13, 2006

If women have a tough time breaking into the construction trades, then Melanie Goldman, president of Goldman Electrical Contracting Inc., and Carla Partin, a union journeyman electrician, have managed to beat the odds. Both women have encountered obstacles in this mostly male field, but both were determined to succeed. Goldman, 32, runs the electrical company she owns with her husband, Bill. She has heard men say many times “Just have your husband call me,” but she doesn’t let that pass….

Omni Severin seeks lot for expansion: Downtown parking garage, grand ballroom on drawing board

February 13, 2006

The Omni Severin Hotel has confirmed it’s negotiating to buy the surface parking lot immediately east of the hotel, which it wants to redevelop into a parking garage capped by a 12,000-square-foot ballroom. Tourism officials love the idea, but some parking lot managers say it’s unnecessary. “We’re buying it for a reason,” said Chris Ratay, the hotel’s area director of sales and marketing. “This would allow us to have our own parking facility.” Today, the hotel’s valets run across the…

BULLS & BEARS: Investing for the long term: Buffett does it; so can you

February 13, 2006

Have you dreamed of creating your own business empire? Well, if you have an investment portfolio that contains a group of stocks, congratulations. You and Jeffrey Immelt at General Electric Corp. have a lot in common. GE is a company composed of a diverse group of separate businesses. And since stocks represent a fractional ownership of a business, the separate holdings in your portfolio, when combined, are analogous to running your own mini-conglomerate. One technique you can use to track…

EYE ON THE PIE Who says Indiana isn’t progressive?:

February 6, 2006

You probably don’t know Gary Price and never even heard of him, but he is at the center of important changes in the construction industry. Don’t get me wrong; Price is not doing this by himself. He is part of a remarkably progressive set of activities that are demonstrating how social objectives and private interests can be integrated. Price has an association management company; as such, he is the executive director of several organizations. He specializes in construction-related associations. The…

INVESTING: Confused by Guidant? Here’s the CliffsNotes version

January 30, 2006

I’ve developed whiplash trying to follow the Guidant story. This situation has it all: drama, suspense, confusion, even death. I am going to offer a quick rehash of what has happened, what it can mean locally and what, if any, profit opportunities remain. To get the entire story straight would take a new series called “CSI Indianapolis,” but here is a CliffsNotes version instead. Guidant was a division of Eli Lilly until 1995. Lilly spun Guidant off at around $5…

INVESTING: Confused by Guidant? Here’s the CliffsNotes version

January 23, 2006

Biz-incentive plan may be beefed up: Legislators seek to strengthen EDGE program by doubling retention tax credit to $10 million

January 16, 2006

Indiana’s showcase business incentive program is about to go through another tweaking. At the request of the Indiana Economic Development Corp., legislators are considering changing the EDGE tax credit program to give it more teeth to retain existing jobs. Since 1994, Indiana has used the Economic Development for a Growing Economy, or EDGE credit, to spur private-sector job growth. The program allows budding companies to abate state payroll taxes for new employees. Over the last 12 years, Indiana has authorized…

Big bank heading for sale?: Union Fed, parent firm mum as talk of mergers intensifies

January 9, 2006

Officials with the companies in Fort Wayne and here aren’t saying one way or the other. “We have nothing to announce,” said Alvin “Kit” Stolen, CEO of Union Federal since 2002. “We officially wouldn’t comment or address those kinds of rumors or speculation.” The privately held companies are among the largest financial firms headquartered in Indiana. Union Federal has more than $3.4 billion in assets and ranks as the city’s third-largest bank. Waterfield ranked 51st nationwide in mortgage originations in…

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Articles

Audits give high marks to drug-testing programs: Labor organization says results show effort is working

Federal patent legislation could mean major changes: Proposed reform act could cut down on ‘trolling’ and litigation by switching approvals to a first-to-file system

Hospitality madness: City wants to grow reputation as Final Four’s ideal site

WellPoint freezes pensions: Insurer joins national trend, shifts focus to 401(k) plan

Markey’s sells off sales unit: Move by audio-visual firm creates new tech company

Lilly says hands off Gemzar: Drugmaker files suit to keep cancer drug off generic market

BEHIND THE NEWS Auditor jabs Obsidian as it prepares to go private:

New support group aids entrepreneurs: Growing network quick to attract diverse membership

Lilly shares primed for rebound?: Stock analysts say 2006 may yield a rise in price out of the $50 range

PETER SCHNITZLER Commentary: Embrace India while you still can

Emerging India: Opportunity or threat?: Indiana businesses brace for growing global competition

Bank profit see-sawed before sale: Union Fed investors may have tired of volatile performance

‘Lighting’ the way for women in the trades: Pair overcomes obstacles with tenacity, hard work and attention to the smallest detail

Omni Severin seeks lot for expansion: Downtown parking garage, grand ballroom on drawing board

BULLS & BEARS: Investing for the long term: Buffett does it; so can you

EYE ON THE PIE Who says Indiana isn’t progressive?:

INVESTING: Confused by Guidant? Here’s the CliffsNotes version

INVESTING: Confused by Guidant? Here’s the CliffsNotes version

Biz-incentive plan may be beefed up: Legislators seek to strengthen EDGE program by doubling retention tax credit to $10 million

Big bank heading for sale?: Union Fed, parent firm mum as talk of mergers intensifies