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Were IPL earnings too big?: Secret biz plan: Execs feared state would order refunds

October 17, 2005

In May 2003, the top brass at IPALCO Enterprises Inc. was running the numbers and saw potential regulatory trouble down the line. The latest projections showed the Indianapolis Power & Light Co. parent would earn a return on equity more than double the industry average for years to come, according to a confidential business plan drafted that spring. Not only might state regulators question whether IPALCO was earning too much money from customers, they also might apply existing case law…

Lathering up for a buyout?: Local hair care products biz Kenra could fetch $80 million

October 24, 2005

Kenra LLC, a locally based hair-care products manufacturer that has nearly tripled its revenue in six years, is looking for a buyer. New York-based Giulliani Capital Advisors LLC is helping the 76-year-old company find a suitor, according to sources familiar with the situation. Kenra reported its annual sales doubled last year to $80 million on the strength of a new line called Kenra Platinum, an upscale haircare collection. Company officials told Women’s Wear Daily in March sales could increase another…

State revamps health coverage: New health savings accounts and high-deductible policies could help stem rising costs

October 31, 2005

Indiana state government will unveil a fresh approach to insurance coverage next year when it offers health savings accounts to its 33,000 employees and their dependents. The state wants employees to take more control of their health care and consequently harness spiraling costs, Personnel Director Debra Minott said. The high-deductible AnthemBy-Design plan it chose to accomplish that will be offered as one of five coverage options during an open enrollment that starts Oct. 31. “We really see a looming crisis…

Public markets are sometimes a double-edged sword: Many companies enjoy access to capital, but others complain regulatory compliance costs are just too high

October 31, 2005

For young and growing companies, initial public offerings are a bit like climbing a mountain: a long, harsh toil to reach a distant summit. But planting a flag at the peak isn’t enough. To make the journey worthwhile, companies must stay there. The payoff can be enormous, in the form of ready access to capital. But operating at such a high altitude requires careful footing. And the effort costs more than some can afford. “It’s a double-edged sword,” said George…

Kite flies third plan for Nora project: Developer scales back condos, dangles Whole Foods Market

November 7, 2005

Developer Paul Kite is back for a third round in his battle with Nora residents to develop a condominium/retail project on the last undeveloped corner of 86th Street and Keystone Avenue. In plans submitted to the city and to neighborhood groups, Kite’s PK Capital LLC has drastically trimmed the number of condo units planned for the 13 acres, but reintroduced the concept of a specialty grocery on the site. PK is working to bring the state’s first Whole Foods Market…

VOICES FROM THE INDUSTRY: Putting construction, engineering into laymen’s terms

November 7, 2005

Sometimes those of us in the construction industry-like many other professions-forget we have our own technical vocabulary that many laymen simply don’t understand. Like some of my colleagues, I have occasionally started tossing around the lingo of our industry before business and civic leaders from other fields and have seen the confused look that comes over their faces. I have to stop and define my terms. With that situation in mind, I thought it might be helpful to put together…

BEHIND THE NEWS: Feds say exec pilfered passport, but judge isn’t convinced

November 7, 2005

Here’s a new twist in the already surreal saga of James T. O’Neal Jr., the Carmel native preparing to stand trial in Orlando on charges he swindled millions of dollars from executives here and in Florida. In late September, a new court filing charges, the 59-year-old Orlando resident swiped his passport and the Social Security cards for himself and his family from a repository of court records in Indianapolis. “It is a reasonable assumption that he will continue to take…

Winona troubles spread: Ex-owner of closed hospital seeks bankruptcy protection, dampening creditors’ hopes

November 7, 2005

Winona Memorial Hospital’s former owner filed for bankruptcy last month, a move that’s likely to hinder efforts to recover millions of dollars for the defunct Indianapolis hospital’s creditors. Texas-based Leland Medical Centers Inc. filed Oct. 14, three days after its CEO, Charles Simons, filed for personal bankruptcy, according to bankruptcy court records. The privately held company, which was created in 1992, once owned a small chain of Texas hospitals with physicians. But Simons acknowledged in a deposition last spring that…

Industry races to promote itself: Statewide motorsports group hopes to thwart competition from other U.S. markets

November 28, 2005

Area motorsports leaders are gearing up for another run at unifying the industry and assuring the region retains its status as one of the world’s leading motorsports markets. Organizers of the latest effort promise they won’t spin their wheels this time around. They’re casting a wider net-going statewide with a motorsports association-to attract more members and build more clout with the media, local and state lawmakers, and service providers, such as banks and insurance companies. The Indiana Motorsports Association Inc….

High risk could mean high payoff for ad agency: Young & Laramore eschews local, regional work to take aim at national targets

December 5, 2005

Locally based advertising agency Young & Laramore won another national account in November, and with the announcement unveiled a strategy to eschew local and regional work to shoot for the industry’s biggest targets. Minnesota-based Red Wing Shoe Co. chose Young & Laramore to help it launch a line of casual footwear targeted at a mainstream men’s and women’s market. The 100-year-old shoemaker has made a name for itself with its hiking, hunting and work boots. Though terms were not disclosed,…

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…

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…

Malls fight for tax savings: Owners see appeals pay off; inconsistencies plague process

December 19, 2005

Shopping mall owners were ecstatic when their property tax bills dropped as a result of reassessment in 2002. Some of them are even giddier now. Three of Indianapolis’ enclosed malls-Castleton Square, Lafayette Square and Glendale-have since won large appeals and had their combined annual property taxes reduced almost $1 million. Pending appeals of the taxes at Circle Centre and Fashion Mall will be decided within months and could mean even more money in the pockets of mall owners. Before 2002,…

Duke, Bremner pairing bearing fruit for both companies: Venture surpasses goals with $100 million in projects

December 19, 2005

A year after forming a joint venture to pursue health care development, Duke Realty Corp. and Bremner Healthcare Real Estate are preparing to storm the Southeast, one of Duke’s stronghold markets, by opening offices in Atlanta and Miami, and by bringing on a new partner. Announced last December, Duke’s and Bremner’s joint venture this year locked up $100 million worth of projects, ranging from a medical office building on Michigan Road in Hamilton County to an outpatient hospital in Summit,…

New airport control tower has a blind spot: More than 300 feet of runway obscured by FedEx hub will be closed, dozed to give controllers view

January 2, 2006

Indianapolis International Airport this month will launch a highly unusual project-shortening a runway. Perhaps just as odd is the reason: Controllers in the airport’s new air traffic control tower, opening next spring, won’t be able to see the southern 324 feet of the 7,604-foot crosswind runway. The FedEx hub is in the way. “The control tower needs to see the surface of the runway,” said John Kish, manager of the $1 billion midfield terminal construction project that necessitated the new…

New ATA shares harder to land: Public offering not expected as airline exits bankruptcy

January 2, 2006

You probably wouldn’t want to buy shares of the first discount airline in recent years to file bankruptcy reorganization-not unless you’re a short-seller or a relative of Norman Vincent Peale. Not in this airline climate. But even they won’t have a chance to buy shares being issued in ATA Holdings Corp. after the Indianapolis airline emerges from Chapter 11 as early as next month. ATA was delisted from Nasdaq shortly after it filed for bankruptcy in October 2004. Old shares…

VIEWPOINT: Foreign study deserves government support

January 16, 2006

The goal of “crosscultural understanding” is now practically a mantra at every university, and the federal government has joined the chorus. President Bush has proclaimed, “America’s leadership and national security rest on our commitment to educate and pre pare our youth for active engagement in the international community.” And in November, the U.S. Senate designated 2006 as the “Year of Study Abroad.” The Senate resolution maintains that education abroad promotes the nation’s “security, stability and economic vitality.” It notes with…

NOTIONS: Failing to learn from the past, condemned to repeat it

January 16, 2006

It was raining in London the morning before New Year’s Eve. As we emerged from the St. Paul’s tube stop to a gust of wintry air, my friend Cheri wrapped her black topcoat a bit tighter, I buttoned my Navy blue, and we pulled on our gloves and scarves, and opened umbrellas to ward off the cold and damp. We walked briskly past the north churchyard of St. Paul’s Cathedral, turned the corner and climbed the front steps. Inside, we…

EYE ON THE PIE: Let’s revisit the State of the State

January 23, 2006

Quite appropriately, Gov. Mitch Daniels did not make any claims about “a revitalized Indiana economy” in his recent State of the State speech. He stuck to the theme that we are on track to turning the economy around rather than proclaiming any victory. This restraint was well-warranted. Indiana ranked 45th among the 50 states in its rate of employment growth for the past year (November-to-November figures). The nation added jobs at a 1.5-percent rate. Our 0.3-percent increase beat out only…

EYE ON THE PIE: Let’s revisit the State of the State

January 30, 2006

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Articles

Were IPL earnings too big?: Secret biz plan: Execs feared state would order refunds

Lathering up for a buyout?: Local hair care products biz Kenra could fetch $80 million

State revamps health coverage: New health savings accounts and high-deductible policies could help stem rising costs

Public markets are sometimes a double-edged sword: Many companies enjoy access to capital, but others complain regulatory compliance costs are just too high

Kite flies third plan for Nora project: Developer scales back condos, dangles Whole Foods Market

VOICES FROM THE INDUSTRY: Putting construction, engineering into laymen’s terms

BEHIND THE NEWS: Feds say exec pilfered passport, but judge isn’t convinced

Winona troubles spread: Ex-owner of closed hospital seeks bankruptcy protection, dampening creditors’ hopes

Industry races to promote itself: Statewide motorsports group hopes to thwart competition from other U.S. markets

High risk could mean high payoff for ad agency: Young & Laramore eschews local, regional work to take aim at national targets

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

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

Malls fight for tax savings: Owners see appeals pay off; inconsistencies plague process

Duke, Bremner pairing bearing fruit for both companies: Venture surpasses goals with $100 million in projects

New airport control tower has a blind spot: More than 300 feet of runway obscured by FedEx hub will be closed, dozed to give controllers view

New ATA shares harder to land: Public offering not expected as airline exits bankruptcy

VIEWPOINT: Foreign study deserves government support

NOTIONS: Failing to learn from the past, condemned to repeat it

EYE ON THE PIE: Let’s revisit the State of the State

EYE ON THE PIE: Let’s revisit the State of the State