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

January 23, 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…

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…

Super Bowl no longer ‘right moment’: Lilly shifts Cialis ads, will focus on programs aimed toward adults

January 9, 2006

As the Indianapolis Colts gear up for a run to next month’s Super Bowl, Eli Lilly and Co. already has decided to watch from the sidelines after two straight appearances during the big game. In a marketing strategy shift, the Indianapolis drugmaker will forgo TV commercials for its erectile dysfunction drug Cialis during the Super Bowl and the Winter Olympics, which begin Feb. 10. Cialis competitors Viagra and Levitra may join it on the bench, as the pharmaceutical industry trends…

Education, work force key hurdles to new economy:

January 2, 2006

Having recently returned to Indiana after a 15-year absence, I see a region filled with both challenges and opportunities. The Central Indiana Corporate Partnership, the organization I’ve returned to serve as president and CEO, is focused on long-term economic prosperity for our region. To this end, our people are our most valuable resource. Unfortunately, central Indiana faces a significant challenge in making our human capital match our goal of a knowledgebased, 21st-century economy. Indiana ranks 46th in the educational attainment…

Startup fills growing drug-trial niche: Indianapolis-based Anaclim focuses on recruiting minority patients

January 2, 2006

A new Indianapolis company plans to attack the chronic shortage of minority patients in drug trials armed only with 11 employees and the wisdom of a couple Eli Lilly and Co. executives. However, the founders of Anaclim believe they’ll find ample success by focusing exclusively on the growing push for diversity in the $10 billion contractresearch industry. Anaclim, which occupies a mostly empty office at Intech Park, could double its staff quickly and start raking in eight-figure revenue within three…

Drug costs on chopping block: M-Plan introduces pill-splitting program

January 2, 2006

Indiana’s second-largest insurer, M-Plan Inc., welcomed some of its customers to the new year with a pill-splitting program that can chop prescription drug costs in half. The Indianapolis-based health maintenance organization became part of a growing crowd of insurers endorsing a money-saving concept long practiced by doctors and patients. However, pill splitting still stirs a healthy dose of concern over safety in some corners of the pharmaceutical world. “I’ve had arguments with insurance companies about this for years,” said Skip…

New governor brings business mentality to state government:

December 26, 2005

As he took office in January, Gov. Mitch Daniels’ first order of business was just that: Apply a business mind-set to state government. That meant efforts to improve the efficiency and cooperation of state agen- Envisioned by Republicans as a publicprivate partnership, IEDC swallowed and replaced more than half a dozen boards and agencies such as the Indiana Depart cies. It also meant key changes to economic development. The creation of the Indiana Economic Development Corp. was one of his…

BEHIND THE NEWS: A peek inside Guidant-J&J-Boston Scientific drama

December 19, 2005

Corporate attorneys aren’t paid to write riveting prose. But the battle to buy Guidant Corp. is so drenched with drama that even the company’s normally bonedry regulatory filings make compelling reading these days. Here’s one gem in a recent filing: Just hours after Guidant sued Johnson & Johnson the morning of Nov. 7-an in-yourface tactic aimed at forcing J&J to close on its $25.4 billion purchase of the Indianapolis company-Guidant CEO Ron Dollens phoned a top J&J executive in an…

ERODING FOUNDATION: Endowment’s assets fall with Lilly stock; heavy sale of shares dim chances for rebound

December 12, 2005

Endowment’s assets fall with Lilly stock; heavy sale of shares dim chances for rebound Wall Street is chipping away at Indianapolis’ most-venerable philanthropic institution. The value of Lilly Endowment’s primary asset-Eli Lilly and Co. shares-has dropped by more than half since 2000, forcing leaders to sell additional shares in order to give away hundreds of millions of dollars as required each year. Still, the privately run endowment remains a major Eli Lilly shareholder, with nearly 148 million shares of the company’s…

States crimp Zyprexa access: Medicaid restrictions cutting into sales of Lilly’s top drug

November 28, 2005

Eli Lilly and Co.’s top seller Zyprexa, pummeled in recent quarters by concerns over side effects, now faces a growing challenge from some of its biggest customers: state Medicaid programs. Citing high costs, more than a half dozen states have moved Zyprexa and other pricey anti-psychotics off preferred drug lists or made it harder for doctors to prescribe them for patients on Medicaid, the state-federal program that provides health care coverage for the poor and disabled. Georgia, for instance, saved…

Hispanic market his target: Ponce Publicidad founder focuses on fast-growing demographic group

November 28, 2005

The Bank of Central America is moving into Florida and other parts of the southeast United States. While this development might not seem significant for central Indiana business operators, Roberto Ponce thinks it’s a sign. “The burgeoning Hispanic market within the U.S. is becoming a major factor,” said Ponce, president of Indianapolis-based Ponce Publicidad. “If domestic businesses don’t realize that and reach out to this segment, others from beyond our borders will.” Ponce thinks his firm is uniquely positioned to…

Database puts 800 technology researchers in reach: Indiana Information Network hopes to link businesses with industry expertise through extensive online portal

November 14, 2005

A Web-based melting pot of intellectual resources intended to aid technology transfer to the market boasts 800 researchers in 40 fields that businesses can tap for help. Indiana Innovation Network is an offshoot of Access Technology Across Indiana, or ATAIN, which was formed about 12 years ago as an alliance of universities, research institutions and businesses statewide. The alliance, led by John Schneider, assistant vice president for industry research at Purdue, helps research facilities commercialize their technology. IIN, founded by…

Industry: Let’s build minority business: Construction consortium working on diversity

October 31, 2005

A consortium of some of central Indiana’s biggest players in construction has set its sights on improving minority involvement in the $8-billion-a-year industry. The Indiana Construction Roundtable, an organization made up of some of the biggest users and providers of construction services, on Oct. 12 approved a diversity outreach initiative. The ambitious plan aims to increase minority participation in the construction industry by rewarding contractors who support education and training, employ minorities and women, and mentor small minority- and women-owned…

Trying to strike oil in public markets: Indianapolis-based Calumet Specialty Products files for IPO, hopes to raise $140 million

October 17, 2005

An Indianapolis-based oil company with ties to a wealthy local family plans to go public in what analysts describe as a hot-butvolatile market. Calumet Specialty Products Partners LP wants to raise $140 million by selling 6.4 million units at an expected price of $22 each, according to papers filed this month with the U.S. Securities and Exchange Commission. Calumet has been part of the private business empire of the Fehsenfeld family, which 35 years ago founded Heritage Environmental Services, a…

Pathway to growth: Production firm’s storytelling attracts national attention

October 10, 2005

Despite a wall lined with Emmy Awards and a client list including ESPN and VH1, Pathway Productions founder Michael Husain is as eager to talk about corporate work and Web site development as his firm’s latest Peyton Manning documentary or his work showcased in this year’s Heartland Film Festival. “The new media side of our business, and that includes Web site development, grew 100 percent in each of the last two years,” Husain said. “So you can see why we’re…

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

October 3, 2005

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…

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

October 3, 2005

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…

How to make money in the bear-market minefield INVESTING Keenan Hauke: How to make money in the bear-market minefield

October 3, 2005

INVESTING How to make money in the bear-market minefield All year, you’ve been reading my description of what the end of a bull market looks like. Major indexes move higher but fewer and fewer stocks participate in the rally. A case in point: On Sept. 9, the S&P 500 came within two points of its early August high, but 60 percent fewer stocks hit new highs in September than in August. Hmm. Apple Computer is one of those stocks I…

Pocket-protector crowd to preach quality: Group plans first conference to promote better practices in information technology

September 19, 2005

Because of them, people stocked basements with food, guns and ammo. Others fell prostrate on hilltops and sang Kumbaya. There was fear software developers would inadvertently destroy the world with the infamous Y2K computer glitch, in the opening hours of 2000. These days, however, it is the developers who are worried-about things like how a glitch can give hackers access to customer credit card and Social Security numbers. Or get companies in trouble when software doesn’t capture information required by…

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Articles

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

Super Bowl no longer ‘right moment’: Lilly shifts Cialis ads, will focus on programs aimed toward adults

Education, work force key hurdles to new economy:

Startup fills growing drug-trial niche: Indianapolis-based Anaclim focuses on recruiting minority patients

Drug costs on chopping block: M-Plan introduces pill-splitting program

New governor brings business mentality to state government:

BEHIND THE NEWS: A peek inside Guidant-J&J-Boston Scientific drama

ERODING FOUNDATION: Endowment’s assets fall with Lilly stock; heavy sale of shares dim chances for rebound

States crimp Zyprexa access: Medicaid restrictions cutting into sales of Lilly’s top drug

Hispanic market his target: Ponce Publicidad founder focuses on fast-growing demographic group

Database puts 800 technology researchers in reach: Indiana Information Network hopes to link businesses with industry expertise through extensive online portal

Industry: Let’s build minority business: Construction consortium working on diversity

Trying to strike oil in public markets: Indianapolis-based Calumet Specialty Products files for IPO, hopes to raise $140 million

Pathway to growth: Production firm’s storytelling attracts national attention

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

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

How to make money in the bear-market minefield INVESTING Keenan Hauke: How to make money in the bear-market minefield

Pocket-protector crowd to preach quality: Group plans first conference to promote better practices in information technology