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Builders pine for acreage: Earlham expects big bucks from land freed by deal

July 11, 2005

Like vultures circling a lone man in the desert, local developers and home builders are jockeying to swoop in and take 413 acres of prime Carmel land when owner Earlham College gives it up following its settlement with Conner Prairie. But Earlham, recognizing the prominence of the last large undeveloped tract in eastern Carmel, isn’t going gently. Interested parties-more than two dozen, at last count-will be required to undergo a formal proposal process before one can feast on the farmland….

Taking the pulse of life sciences: Experts weigh in on whether Indiana is keeping up in the economic development race

June 27, 2005

IBJ: Is Indiana gaining ground against other states in the race to grow as a life sciences hub? What are some specific benchmarks that underscore your opinion? JOHNSON: Indiana is gaining ground, but Indiana already starts on really very substantial ground. There are a lot of outside validations of that and I think it’s important for this audience to hear a couple of them because there is nothing like having people on the outside pay attention to what we’re doing…

Watchdogs wishing for tough IURC: Consumer, biz groups hope Daniels picks commissioner who’ll say ‘no’ to utilities

June 20, 2005

Industrial and consumer interests say Gov. Mitch Daniels needs to fill a pending vacancy at the Indiana Utility Regulatory Commission with a regulator “able to say no” to utility companies. The IURC has too often allowed utilities to pass on increased costs for fuel or purchased power, for example, through so-called tracking mechanisms rather than through traditional rate cases that take into consideration offsetting reductions in other costs, they complain. “It’s important to be able to say no to the…

ECONOMIC ANALYSIS: Until Indiana diversifies, economy will struggle

June 20, 2005

Sure, General Motors Corp. is in trouble, and quite a few Indiana communities are directly in harm’s way. The headlines say it all. Plant closings-above and beyond those already planned-are on the way. GM bonds are rated as junk. Its market share is at an historic low. And it’s discounting just about everything on the lot. For a company that has been the No. 1 automaker in the world for four generations, its recent stumbles have to be humbling. Pressed…

Seed funding falling short: BioCrossroads to offer $6 million less than originally hoped

June 13, 2005

It’s the Catch-22 of entrepreneurship. Attracting investment money is most difficult during the earliest days, exactly when startups need it most. BioCrossroads hopes to break that tricky cycle with its new $4 million seed-stage venture capital fund, Indiana Seed Fund I. But when fund raising was launched last year, the life sciences initiative aimed for $10 million. At about $250,000 per deal, BioCrossroads can do up to 15 deals-or two dozen fewer than it had intended. “We would certainly have…

Dads let these moms soar: Some couples find it makes more sense for the father to be in the stay-at-home parent role

June 13, 2005

Sometimes they do it for economic reasons. Or perhaps they don’t want their children to be raised by baby sitters. Whatever the case, some couples find it makes more sense for the dad to be a stay-at-home parent. And sometimes-as with the couples in this story-that decision has helped enable the moms’ careers to soar. Debra Minott, director of the Indiana Personnel Department, was working for Eli Lilly and Co. in San Diego when she had her second child in…

VIEWPOINT: Arts are a good investment for business

June 6, 2005

This summer, there are two red-letter days for the arts and cultural scene as well as our city and state: the official opening of the new home of the Herron School of Art on the IUPUI campus, which was set for June 3, and the dedication of the Indianapolis Art Center’s ARTSPARK Aug. 21. These events are only two of the many activities in 2005 that will help position Indianapolis as an arts and cultural destination, a goal set by…

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…

Heirs spar for exec’s riches: Grandson of Lilly officer who died in ’77 fights widow’s trust

June 6, 2005

Robert E. Koffenberger joined Eli Lilly and Co. as a salesman in 1939. By the time he retired in 1974, he was one of the company’s highest-level executives, a member of the board of directors-and an immensely wealthy man. Now, 28 years after the Indianapolis executive’s death, a fight over that fortune has split his grandchildren. One of the eight has launched a court fight here charging that his brother and sister-in-law took advantage of the cloudy mind of Koffenberger’s…

A quiet force: King helped revitalize city behind scenes

May 30, 2005

Coming of age in the 1950s, Tom King thought he’d make a pretty good engineer. “I grew up during what I call the ‘Sputnik Era’. Anybody who was a halfway decent student was going to be an engineer,” says the newly retired president of the Lilly Foundation. “When I saw what engineers did, I discovered I wouldn’t make a very good one.” Instead, King found himself a niche constructing some of the most complex local economic development projects of the…

Building trades set for takeoff: Construction companies line up for first set of bids on $300M midfield terminal

May 9, 2005

The Indianapolis Airport Authority board on May 9 is expected to vote to approve the letting of the first six construction packages. They’re worth a total of $70 million, said Midfield Program Manager John Kish. That’s about a quarter of the $300 million terminal building’s price tag. The $974 million midfield project also includes a new airport entrance at I-70 and Six Points Road. But it’s the terminal building that has broad appeal to the trades. “I’d say this is…

Elite execs raking it in: As pay swells, critics urge restraint

May 9, 2005

Special Report: Elite execs raking it in As pay swells, critics urge restraint Highest-paid Indiana public company executives in fiscal ’04. Includes salary, bonus and other annual compensation, as well as long-term pay and stock option grants. 1) includes $1.7 million signing bonus received upon becoming CEO and president in August 2004 Turns out life’s certainties stretch way beyond the clichÃ© about death and taxes, especially in corporate Indiana. If you’re a top executive at one of Indiana’s biggest public…

Applied Engineering Services Inc.: Engineering firm builds clientele slowly

May 9, 2005

Starting a new company is a tricky business, even if you’ve done everything right. Applied Engineering Services had the funding, the contacts and the skills it needed when it started in 1998. Still, the first year or so was hardly easy. “We didn’t hit the ground running,” recalled Terry DeBoo, one of the principals in the company. “The first year was pretty tough.” Applied Engineering is a consulting engineering firm that focuses much of its business on the central utility…

Stock options lose favor, but still fuel big pay totals:

May 9, 2005

The numbers boggle the mind and dominate the pay totals. Last year, Eli Lilly and Co. boss Sidney Taurel received stock options that could balloon in value to $18 million over the next decade, even if the company’s shares underperform the stock market’s historical average return. The grant of options to buy 400,000 shares of stock accounted for nearly 80 percent of the $23 million in compensation doled out last year to Lilly’s chairman, CEO and president. Options made up…

Cialis teeing off marketing efforts with PGA Tour: Spending could rival Viagra’s NASCAR, MLB deals

May 9, 2005

Cialis, Eli Lilly and Co.’s erectile dysfunction drug, is teeing off its second season as a sponsor of the PGA Tour with several major marketing initiatives. The increased spending levels, sports marketers said, rival Viagra’s commitments in NASCAR and Major League Baseball. Lilly officials said a 24-plus-percent market share for the drug just 18 months after its debut proves the marketing strategy is working. Lilly makes the drug in partnership with Bothell, Wash.-based Icos Corp. In addition to serving as…

Forums seek out diamonds in rough: Future Fund events link VCs with entrepreneurs

May 2, 2005

With $15 million to plow into early-stage companies, Indianapolis-based Pearl Street Venture Funds is one of several venture capital firms searching for promising technologies to fortify with a cash infusion. In return, the investors hope to stumble upon the next Eli Lilly and Co., or at the very least, an enterprise that eventually becomes profitable and attractive enough for acquisition. The process of locating such diamonds in the rough, however, can be arduous and time-consuming. To that end, the Indiana…

Sales, new spec space in the cards at Intech: Intech One and Two likely to fetch top dollar, draw national interest, investment broker says

May 2, 2005

Two years ago, Lauth Property Group Inc.’s Intech Park was arguably the most prominent sign of central Indiana’s soft office market. The northwest-side park’s largest buildings, Intech One and Two, had entire floors vacant and awaiting completion. Acterna LLC was pulling out of its 140,000-square-foot building, a retreat symbolic of the technology bust’s effect on the larger suburban office market. Today, helped by a robust investment market and Intech’s recent state designation as a certified technology park, Lauth hopes the…

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…

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….

United Way enlists help from execs: Program provides extra muscle for annual fund-raising campaign

April 25, 2005

So UWCI will pitch the program with renewed fervor as agency leaders make the rounds of local businesses this year. They’ll point to networking opportunities and leadership skills, community awareness and self-confidence. And they’ll sing the praises of a revamped training program intended to be a big part of the answer. New this year are sessions on effective selling methods, project management and leadership development, intended to strengthen the appeal to employers and employees alike. “We really want to make…

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Articles

Builders pine for acreage: Earlham expects big bucks from land freed by deal

Taking the pulse of life sciences: Experts weigh in on whether Indiana is keeping up in the economic development race

Watchdogs wishing for tough IURC: Consumer, biz groups hope Daniels picks commissioner who’ll say ‘no’ to utilities

ECONOMIC ANALYSIS: Until Indiana diversifies, economy will struggle

Seed funding falling short: BioCrossroads to offer $6 million less than originally hoped

Dads let these moms soar: Some couples find it makes more sense for the father to be in the stay-at-home parent role

VIEWPOINT: Arts are a good investment for business

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

Heirs spar for exec’s riches: Grandson of Lilly officer who died in ’77 fights widow’s trust

A quiet force: King helped revitalize city behind scenes

Building trades set for takeoff: Construction companies line up for first set of bids on $300M midfield terminal

Elite execs raking it in: As pay swells, critics urge restraint

Applied Engineering Services Inc.: Engineering firm builds clientele slowly

Stock options lose favor, but still fuel big pay totals:

Cialis teeing off marketing efforts with PGA Tour: Spending could rival Viagra’s NASCAR, MLB deals

Forums seek out diamonds in rough: Future Fund events link VCs with entrepreneurs

Sales, new spec space in the cards at Intech: Intech One and Two likely to fetch top dollar, draw national interest, investment broker says

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

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

United Way enlists help from execs: Program provides extra muscle for annual fund-raising campaign