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Articles

United Way campaign facing dual challenges this year: Onetime gifts, charitable response to Katrina devastation complicates already-complex fund drive

September 19, 2005

It’s never easy for United Way of Central Indiana-raising money seldom is. But this year, organizers went into the annual fund-raising drive with an additional challenge: replacing $1.5 million in one-time donations that helped get the 2004 campaign to its $36.6 million goal. Their task is complicated by the fact that this year’s effort started just as the philanthropic response to Hurricane Katrina kicked into high gear. Americans have given nearly $1 billion to disaster relief already, and the impact…

BEHIND THE NEWS: Beneficiaries of Lilly largesse lose bid to spank bank

September 19, 2005

Round one goes to National City Bank of Indiana. An Indianapolis judge last week signaled he plans to dismiss litigation filed by two big beneficiaries of Ruth Lilly’s estate, Washington, D.C.-based Americans for the Arts and the Chicago-based Poetry Foundation. The groups charged the bank bungled management of her assets, costing them tens of millions of dollars. Judge Charles Deiter on Sept. 12 canceled a 10-day trial that was to start Sept. 26 and asked the bank to submit a…

EndGenitor might hold key to repairing blood vessels: Biomedical startup researchers grow cells from umbilical cord fluid

September 19, 2005

En d G e n i t o r Technologies Inc. is a prime example of the type of company BioCrossroads, central Indiana’s life sciences initiative, covets. Founded on the scientific discoveries of two Indiana University School of Medicine researchers, the venture is on the cusp of producing stem cells that someday could repair the blood vessels of heart attack victims and diabetics. Drs. Mervin Yoder, 52, and David Ingram, 39, company cofounders and professors at the Herman B Wells…

TOM HARTON Commentary: Where business, disaster meet

September 12, 2005

We don’t do weather. Business newspapers don’t ask reporters to stand in bitter cold to demonstrate that it’s uncomfortable. We don’t warn our readers about the dangers of a storm by assigning a reporter to stand in the middle of one. When the wind and rain send things crashing down around us, we become consumers of news just like everyone else. Last week, we broke our rule. No, we didn’t brave the elements, but what happened in New Orleans and…

INVESTING: Strong stocks in strong industries have greatest promise

September 5, 2005

Let’s get ready to make some money. I know the cocktail party talk is still centered around the crazy real estate world, but nothing beats the stock market if you know where to go. A lot of investors bought into the media hype about selling in May and going away. This easy-to-remember phrase has resonance because, over the last 50 years, stock market performance has been better from November through April than May through October. As an investing strategy, however,…

Ancient sport of kings still appeals to Hoosiers: Hickory Hall Polo Club keeps game alive on Boone County farm

September 5, 2005

A handful of noisy chickens and a small herd of goats meander around two neatly kept barns that house about a dozen horses, their stalls overlooking the 10-acre field that’s 300 yards long and 160 yards wide. As horses emerge from their stalls with the help of the Chandlers’ assistant, it becomes clear these are no common steeds. Their deep chests heave with each breath, their nostrils sucking in air like a Hoover, ribs lightly protruding through their lean physiques….

City’s mall gamble paid off: After 10 years, Circle Centre at core of rejuvenated downtown

September 5, 2005

In February, Goldsmith suspended construction while he and advisers analyzed options. Within months, he gave Circle Centre the green light, and construction resumed-but not because he was convinced the project would succeed. “In the end, we decided job creation in the urban core and the psychological survival of the city were dependent on some development occurring downtown,” recalled Goldsmith, now a professor at Harvard University. “We went forward with the mall with great anxiety.” Today, 10 years after the September…

Indianapolis responds to Katrina devastation:

September 5, 2005

Local philanthropic response to the epic disaster was almost immediate. Television and radio stations alike urged central Indiana audiences to make donations at dozens of collection sites, and the Salvation Army’s Indiana Division broke out its red kettles to help. The corporate community also responded. Gifts made by IBJ’s deadline include: Indianapolis-based Eli Lilly and Co. said it will contribute $1 million to the American Red Cross and match all contributions made by its U.S. employees. Lilly also will give…

Lilly battles five-year flu: Analysts: Drugmaker primed for rebound from Prozac defeat

August 29, 2005

It’s been a challenging five years for Eli Lilly and Co., which has launched nine new drugs yet seen the price of its stock fall by half, wiping out more than $60 billion in market value. However, company officials say the drugmaker has rallied from the jarring setback it received Aug. 9, 2000-when a federal appeals court invalidated Prozac’s patent protection-and are optimistic better times lie ahead. They say the company is positioned to increase profit and revenue, thanks to…

Trio use experience to start consultancy: State-government veterans met while at FSSA

August 29, 2005

Three veterans of state government have pooled their years of management experience to launch the women-owned business consultancy Engaging Solutions LLC. Led by Venita Moore and Debra Simmons Wilson, the company set up shop in the Indiana Black Expo building on North Meridian Street this spring to provide fiscal management, strategic planning, outreach, training and economic development services. They and part-time principal Tammy Butler Robinson say the firm’s focus on serving government agencies, not-forprofits and faith-based organizations fits their backgrounds….

Pension fund opens coffers: $506M could be boon for venture capitalists

August 22, 2005

The Public Employees’ Retirement Fund, Indiana’s largest pension system, is preparing to unleash half a billion dollars into venture capital, real estate and other privateequity investments. And the fund’s managers aim to put the bulk of it to work inside state lines. Hoosier venture capitalists are salivating at the prospect. T h a t ‘s t h e equivalent of nearly seven BioCrossroads Indiana Future Funds. “If there are excellent opportunities to invest in Indiana, we ought to be looking…

Safety Resources Inc.: Safety pays off for ex-engineer Clients look to local firm for training, advice

August 15, 2005

Clients look to local firm for training, advice Robert Baldwin repeatedly describes his business as keeping people safe and alive. At Safety Resources Inc., that translates to making sure workplace policies and practices meet or exceed government standards and clients’ employees are trained in the safest ways to work. That can mean anything from the proper operation of heavy construction machinery to the right floor wax to reduce slip-andfall accidents. After several years as a chemical engineer, Baldwin, 50, saw…

Past retail failures in China don’t scare Simon away: Developer’s partnership with Wal-Mart could be key

August 15, 2005

Executives of Simon Property Group Inc. are confident the shopping mall owner’s foray into China will prove successful, even though they acknowledge others have failed there. In a conference call with analysts late last month, the locally based real estate investment trust announced its plan to be the first American company to develop retailing projects in the communist country. Its first project will be a 500,000-squarefoot mall at Hangzhou, a city of 6 million people about two hours from Shanghai….

Rising star in GOP recasts job agency: New chief uses secret shoppers, dress code to shake up state’s work force development

August 8, 2005

Indiana Department of Workforce Development Commissioner Ronald Stiver says the world is flat, with the United States no longer having mountainous advantages over other nations. And Stiver knows Hoosiers must prepare for it to get even flatter. “You’re talking to the converted,” Stiver said. “I believe in the 21st century, the major lever for economic development will be work-force development.” Stiver, 31, is reorganizing DWD with the new flat world in mind. He envisions an agency that moves beyond doling…

University Place getting major makeover: New owner IUPUI investing $13M in renovation of 18-year-old hotel

August 1, 2005

A hotel built during an era in which Indianapolis first laid claim to its title of Amateur Sports Capital of the World has a new owner that is spending millions of dollars to bring the structure into the new century. University Place Conference Center & Hotel, on the campus of IUPUI, opened amid the fanfare of the Pan American Games hosted by Indianapolis in 1987. Nearly 4,500 athletes from 38 countries converged on downtown, including a throng of media that…

Auto auction board hikes own pay: Adesa Inc. also sent executive packing with full-sized severance

July 18, 2005

Vehicle auction giant Adesa Inc., which already pays one of the richest sums to its directors of any local company, has jacked up its annual board retainer 50 percent. Meanwhile, the Carmel-based company also has disclosed details of a severance package it paid to Executive Vice President James P. Hallett worth more than $1.3 million, not including the value of his stock options. Both events were disclosed in documents filed recently with the Securities and Exchange Commission. The eight-person board…

Program hopes to boost women in science: IUPUI to put female science students under one roof to nurture their interest in field often dominated by men

July 18, 2005

The “girls aren’t good at science” myth still exists, according to many science educators. That is why a new School of Science program at IUPUI hopes to do its part to dispel the label many say is created as early as elementary school. IUPUI’s Women in Science House will literally house together women studying science, providing a nurturing environ ment for female students who often feel isolated, a factor that can cause them to change majors, said Pam Crowell, director…

Diversity marketing gains steam in central Indiana: Ad agencies helping convey cultural revelancy

July 11, 2005

Ethnic or diversity marketing, once confined to major cities such as Dallas, New York and Los Angeles, is taking hold in Indianapolis. “We have seen a gradual but growing response among clients to communicate to a multicultural audience,” said Clyde Bodkin, president of locally based Bodkin Associates Inc. “Not everyone is in the same place, but smart companies are finding culturally sensitive, culturally relevant ways to communicate to their target markets.” Diversity marketing is the fastest-growing sector of Bodkin’s 14-person…

Historic battle settled: Prairie pact lays out plans without judging past practices

July 11, 2005

But whatever Earlham College puts in the 41-year history of credits and debits, it will have no bearing on the resolution of a decades-long dispute over control of the Hamilton County attraction. That deal is largely done. Carter and Earlham board Chairman Mark B. Myers ended nearly two years of negotiation July 5, putting quill-topped ballpoint to paper in front of a cheering crowd in the museum’s Welcome Center. The agreement-which frees Conner Prairie from Earlham’s control and calls for…

South downtown parking lot eyed for mixed use: Project slated to include ground-floor retail, with residential or office space above

July 11, 2005

A Lafayette developer has a parking lot on the southeast corner of Meridian and South streets under contract with plans for a mid-rise, mixed-use building. Developer John Teibel plans to purchase the 1.4-acre lot from local investors Robert and Karen Dittemore, who have owned the lot for several years, said Scott Langdon, who is representing the couple. The lot is across the street from Eli Lilly and Co.’s Faris/Brougher complex. Plans call for the first floor of Meridian Overlook to…

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