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BEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall

December 12, 2005

As if Marsh Supermarkets Inc. didn’t have enough problems, here’s another whopper: The company has a drastically underfunded employee pension plan-to the tune of $44 million. That figure is disclosed deep within a Securities and Exchange Commission filing the company submitted in June. It shows the pension plan had assets of $39 million, less than half its $83 million in projected obligations. It’s a big shortfall, and one analysts say is sure to draw the attention of potential suitors. An…

Water treaty on tap: Mediated agreement calls for Carmel to pay Indy $36.2M

December 5, 2005

Carmel and its big-city neighbor to the south have a truce in hand to end a 3-1/2-year war over what Carmel will pay to buy Indianapolis-owned water distribution lines serving 6,000 customers in the Hamilton County community. The proposed purchase price: $36.2 million, according to documents recently filed with state regulators. Carmel officials say the deal eventually should improve water pressure and lower fire insurance rates, and make it easier to plan for growth. It also would give affected residents…

Cable firms call foe a phony: Group touting itself as consumer group funded by biz giants

November 21, 2005

At first glance, Consumers for Cable Choice appears to be one of those grass-roots organizations likely to have a framed picture of Ralph Nader on its wall. You know, the kind of activist group whose religion is social justice, whose bible is Mother Jones, and to whom eternal damnation would be to accept a penny from greedy and manipulative Big Business. Not so with Consumers for Cable Choice. The Indianapolis group that advocates more competition in cable and relaxed regulation…

Merry Realty Inc.: Big plans for small firm Real estate agency tries to win business by teaching buyers rules of the game

November 21, 2005

Real estate agency tries to win business by teaching buyers rules of the game Large agencies may dominate the residential real estate game, but Indianapolis-based Merry Realty is trying to prove a small player still can make a big name for itself. For years, Merry Realty has focused its efforts on properties in Indianapolis, but it is rapidly expanding into a more diverse market, targeting booming areas like Hamilton County while staying loyal to its inner-city roots. Real estate broker…

Technology proposals get business focus: IEDC requests new 21st Century Fund applications

November 21, 2005

It’s been 18 months since state government requested new technology proposals from startups or academics. The days of waiting are now finished. “We’re in business,” said the Indiana Economic Development Corp.’s new director of entrepreneurship, Bruce Kidd. “The open sign is in the window. We want to start accepting applications again.” On Nov. 16, the IEDC issued a request for applications to its $75 million 21st Century Research and Technology Fund. Much has changed since March 2004, when the state…

Lawrence, Crane build on base realignment: Economic developers hope to increase job count

November 21, 2005

Now that Indiana has survived the latest round of military base closings relatively unscathed, state leaders are turning to their next task: spurring economic development around the state’s two largest remaining military assets. After two years of review, the military’s Base Realignment and Closure process concluded Nov. 9 when Congress allowed the BRAC commission’s recommendations to become law. When the commission unveiled its recommendations this spring, state officials were relieved the Crane Naval Surface Warfare Center in southwest Indiana would…

MASTER OF THE PLAN: Ultra-prepared president has Purdue primed for ‘pre-eminence’

November 14, 2005

It’s half-past eight on a Monday morning and Martin Jischke is at his desk, poring over notes. This is how Purdue University’s president spends his days and most of his nights-preparing to be prepared. At any time, Jischke could be interacting with students, alumni, faculty, legislators or business leaders. He wants to be ready for their questions with clear, articulate answers, no matter the subject. His responses seem off-thecuff, but make no mistake: Jischke has studied and considered his position…

Health Care Crusade: Physicians push for universal health coverage in Indiana

November 7, 2005

ome heart muscle had already died by the time family members coaxed the 50-something uninsured man into visiting Bloomington Hospital a few weeks ago. The patient had suffered severe chest pains two days before his hospital visit but didn’t seek treatment, said Dr. Rob Stone, an emergencyroom physician there. “It was clearly because he was afraid of the bill,” Stone said. By the time he made it to the hospital, the man was suffering a second heart attack. Now he…

Butler construction project targeted for fall ’06 finish: Student housing, rec center to join historic campus

November 7, 2005

The landscape around Butler University’s historic Hinkle Fieldhouse is undergoing dramatic changes not seen on the private campus since the early 1960s. Construction began in May on a $50 million project to build a student recreation center west of the 77-year-old arena and student housing to the east. Both should be finished by the start of the fall semester in August. The construction projects are the largest since Irwin Library, Clowes Memorial Hall and Lilly Hall were built in 1961,…

S.S. Purdue taking on water:

November 7, 2005

Rome may have been burning but, in West Lafayette, Purdue University is leaking. The university has proposed a complex funding plan to address crumbling infrastructure resulting from declining state funding. Purdue President Martin Jischke proposes that Purdue set aside $15 million annually for repairs, money that would come from sources including $60 million in bonds to address half of the $120 million deferred repair backlog. The bonds would be paid off through budget reallocations and revenue from student fees for…

Startups offered a fast track: Motorsports-themed incubator gets green light in Brownsburg

October 31, 2005

Hendricks County officials hope a new business incubator there revs the engines of local entrepreneurs. The motorsports-themed facility, to be known as Fast-Start, got the green light after a year-long feasibility study concluded the project was a logical fit for a community that already houses Prudhomme Racing, John Force Racing and Bill Simpson’s Impact Racing. “It would help achieve some of our goals in Brownsburg,” said Jeanette Baker, town council president and treasurer of the Hendricks County Economic Development Partnership,…

Credit-counseling mandate causing stir: Critics contend providers, including some under investigation, will unfairly profit from new bankruptcy law

October 31, 2005

The reform measures that took effect Oct. 17 will make it harder for filers to wipe away unsecured debt by steering more of them toward Chapter 13-instead of Chapter 7-which requires them to repay at least some obligations. But consumers wishing to declare bankruptcy must first undergo credit counseling within 180 days of filing and finish debtoreducation courses before exiting the courts. Critics contend the extra step will add more time to the pre-filing phase and increase the cost for…

Emerging Tech, Johnson centers team up: Partnership links incubator’s startups with entrepreneurship students

October 24, 2005

Now as executive director of Indiana University’s Johnson Center for Entrepreneurship & Innovation, he has high hopes for his latest effort to introduce students to the real world of business. The Johnson Center, based in Bloomington, opened an office earlier this month at the Indiana University Emerging Technologies Center in downtown Indianapolis. The space gives MBA students the opportunity to provide consulting services to the 22 startups at the incubator. Unlike BSU seniors in the “spine-sweating” course who present an…

EYE ON THE PIE: Time to realign taxes with services

October 24, 2005

Many folks want to get rid of property taxes. They think property taxes are o l d – fa s h i o n e d , although most who think so have not thought through the issue. These property-tax abolitionists want to use income or sales taxes, which they contend are more “fair,” whatever that means. They forget that one aspect of “fairness” is to relate taxes to services received. This is called beneficiary taxation. An example of beneficiary…

BioStorage gets set for major expansion: Three-year-old local firm eyeing West Coast, Europe

October 24, 2005

The 60 industrial-size freezers standing in formation like soldiers at attention look unassuming from the outside, but their contents are invaluable. Stored at temperatures of minus-80 degrees Celsius, the millions of biological samples inside the far-west-side warehouse represent the future of disease research and drug development. The repository is operated by BioStorage Technologies, a 3-year-old venture created by a pair of researchers who met at the local office of Princeton, N.J.-based Covance Inc., a drug-development services firm. Oscar Moralez developed…

Affordable housing gets $2.3 million:

October 24, 2005

The City-County Council on Oct. 10 voted to allocate $1.5 million in federal grant money and $800,000 from the Indianapolis Housing Trust Fund toward affordable-housing efforts. One project that will benefit from the federal money is the Rink-Savoy redevelopment at Illinois and Vermont streets, which will create 62 rental units and five condominiums for low-income households. That project will receive $235,000. Westside Community Development Corp. will receive $248,000 to support the construction of 23 homes, all of which will be…

Cop merger might have just enough: Backers make concessions in effort to build majority

October 24, 2005

It’ll be close. But Mayor Bart Peterson may have just enough support to make his proposed police merger a reality. The City-County Council is expected to vote on the issue Oct. 31. Advocates are hurriedly negotiating with key players, hoping lastminute concessions will pull a handful of councilors off the fence. “I don’t think it’s going to be a wide margin either way,” said Peterson, a Democrat. “But I do believe it will pass. Because at the end of the…

Speaking of health care: Local experts weigh in on rising costs, the uninsured and whether our current system needs an overhaul Public health priorities, executive salaries and the “gold rush” of health care construction were among the topics tackled Sept

October 3, 2005

Public health priorities, executive salaries and the “gold rush” of health care construction were among the topics tackled Sept. 21 in the latest installment of Indianapolis Business Journal’s Power Breakfast Series. IBJ reporter Tom Murphy moderated the panel discussion, attended by some of the area’s foremost health care experts. Following is an edited transcript of the often-spirited discussion, which included a brief interruption by protestors seeking medical insurance coverage for janitorial staff who clean Anthem Inc. buildings. IBJ: Can you…

VOICES FROM THE INDUSTRY: Does your 401(k) work as well as most pension plans?

September 26, 2005

This is definitely not the headline most workers wanted to see on the business section of the newspaper: “Traditional e m p l oy e r- f u n d e d pension plans outperformed worker-funded 401(k) plans during bear market.” The findings, based on a study conducted by the employee-ben efit consulting firm of Watson Wyatt Worldwide, bolstered critics’ arguments that 401(k) and similar retirement plans are not up to the task, when compared with defined-benefit pension plans, of…

How Clarian funds building projects:

September 26, 2005

Clarian Health Partners CEO Dan Evans offers a simple explanation for how the People Mover, Clarian’s futuristic rail system, came to be a few years ago. “People ask me all the time how we paid for it. I said, ‘Thank the stock market,'” he said. The bull market of the late 1990s allowed Clarian to use mostly investment income to fund the $40 million transportation project that opened in 2003 and connects its three downtown hospitals: Methodist, IU and Riley…

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People

Susie Ripley

Articles

BEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall

Water treaty on tap: Mediated agreement calls for Carmel to pay Indy $36.2M

Cable firms call foe a phony: Group touting itself as consumer group funded by biz giants

Merry Realty Inc.: Big plans for small firm Real estate agency tries to win business by teaching buyers rules of the game

Technology proposals get business focus: IEDC requests new 21st Century Fund applications

Lawrence, Crane build on base realignment: Economic developers hope to increase job count

MASTER OF THE PLAN: Ultra-prepared president has Purdue primed for ‘pre-eminence’

Health Care Crusade: Physicians push for universal health coverage in Indiana

Butler construction project targeted for fall ’06 finish: Student housing, rec center to join historic campus

S.S. Purdue taking on water:

Startups offered a fast track: Motorsports-themed incubator gets green light in Brownsburg

Credit-counseling mandate causing stir: Critics contend providers, including some under investigation, will unfairly profit from new bankruptcy law

Emerging Tech, Johnson centers team up: Partnership links incubator’s startups with entrepreneurship students

EYE ON THE PIE: Time to realign taxes with services

BioStorage gets set for major expansion: Three-year-old local firm eyeing West Coast, Europe

Affordable housing gets $2.3 million:

Cop merger might have just enough: Backers make concessions in effort to build majority

Speaking of health care: Local experts weigh in on rising costs, the uninsured and whether our current system needs an overhaul Public health priorities, executive salaries and the “gold rush” of health care construction were among the topics tackled Sept

VOICES FROM THE INDUSTRY: Does your 401(k) work as well as most pension plans?

How Clarian funds building projects: