Harrison can catch, but won’t pitch
Marvin Harrison is a football superstar, but he sure isn’t a commercial superstar. Harrison had a deal with Degree antiperspirant in the late 1990s and another with the Got Milk campaign following the…
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Fillenwarth Dennerline appeals jury verdict
The Indianapolis law firm socked by an $18 million jury verdict two years ago over the collapse of a health insurance trust has appealed to the state’s highest court. If Fillenwarth Dennerline Grothe & Towe can escape the verdict, the firm might be relieved of an agreement it struck with the Indiana Department of Insurance […]
Vaunted program hits turbulence
Ball State Universityâ??s entrepreneurship program has long been considered one of the stateâ??s crown jewels in
business academics.Former funeral director Don Kuratko started the program before entrepreneurship was cool and pushed it to
national prominence. Real-world business types like the…Crean chasing Hoeppner’s record
Indiana University basketball coach Tom Crean hasn’t even coached his first game for the Hoosiers, and he’s already breaking records. Yesterday, Crean signed the richest coaching contract in IU history, a 10-year $23.6…
McGowan Insurance building new headquarters
McGowan Insurance Group Inc. plans to spend $2.5 million to build its new headquarters at 340 N. Capitol Ave. As part of the expansion, McGowan will also add 13 jobs. The office building will occupy what is now vacant land east of Bourbon Street Distillery. McGowan announced the plan this morning. The 75-year-old insurance agency […]
Ex-WellPoint VP sues, says he was axed for testifying in drug case
WellPoint Inc. prides itself on working to hold down the rising cost of health care. But to hear one of its former vice
presidents tell it, the company retaliated against him when he worked to do just that. In a lawsuit against
WellPoint, Dr. Randy Axelrod claims his former employer forced him out when he tried to curtail a drugmaker’s
controversial pricing strategy that was costing WellPoint money.RETURN ON TECHNOLOGY: Can you still do business while unconnected? Amid the legions of the digital fanatics are the professionals who just say no to gizmos and gadgets
I’m not big on those classification schemes that put people into categories. You know what I mean, schemes such as, “There are two kinds of people in the world: those who classify others, and those who don’t.” I’m not sold on Myers-Briggs, for example. I consider it a parlor game with no significant predictive value. All classification schemes leak around the edges, so I avoid them for the most part. However, there is one categorization to which I now subscribe:…
Eiteljorg takes artifact ownership dispute to court: Quarrels over origins rare but troubling for museums
A New Mexico man claims an artifact in the Eiteljorg Museum of American Indians and Western Art’s collection was stolen from him in 1984 before it was purchased and donated to the Indianapolis museum in 1989. Artifacts dealer Robert Vandenberg says the American Indian war shirt-a long, fringed shirt made of hide-is worth as much as $200,000 and he is asking the Eiteljorg to hand it over. The museum, on the other hand, says Indianapolis businessman Harrison Eiteljorg had clear…
Murky motive adds intrigue to Old National loan saga
In the buttoned-down world of banking, it doesn't get much stranger than this: An Indianapolis loan officer with a strong reputation is suddenly dismissed after his employer charges he falsified lending documents. The bank says the fraud exposes it to potential losses approaching $20 million. And here's the kicker: The employer hasn't accused the banker of committing the wrongdoing for personal gain.
BEHIND THE NEWS: Murky motive adds intrigue to Old National loan saga
In the buttoneddown world of banking, it doesn’t get much stranger than this: An Indianapolis loan officer with a strong reputation is suddenly dismissed after his employer charges he falsified lending documents. The bank says the fraud exposes it to potential losses approaching $20 million. And here’s the kicker: The employer hasn’t accused the banker of committing the wrongdoing for personal gain. There are no allegations, for instance, of setting up fictitious borrowers to scoop up bank cash on his…
RETURN ON TECHNOLOGY: Can you still do business while unconnected? Amid the legions of the digital fanatics are the professionals who just say no to gizmos and gadgets
I’m not big on those classification schemes that put people into categories. You know what I mean, schemes such as, “There are two kinds of people in the world: those who classify others, and those who don’t.” I’m not sold on Myers-Briggs, for example. I consider it a parlor game with no significant predictive value. All classification schemes leak around the edges, so I avoid them for the most part. However, there is one categorization to which I now subscribe:…
Eiteljorg takes artifact ownership dispute to court: Quarrels over origins rare but troubling for museums
A New Mexico man claims an artifact in the Eiteljorg Museum of American Indians and Western Art’s collection was stolen from him in 1984 before it was purchased and donated to the Indianapolis museum in 1989. Artifacts dealer Robert Vandenberg says the American Indian war shirt-a long, fringed shirt made of hide-is worth as much as $200,000 and he is asking the Eiteljorg to hand it over. The museum, on the other hand, says Indianapolis businessman Harrison Eiteljorg had clear…
George named motorcyclist of year
Indianapolis Motor Speedway CEO Tony George has been named 2008 “Motorcyclist of the Year” by Motorcyclist, one of the most widely circulated motorcycle magazines in the U.S., for his efforts to bring the…
UPDATE: Hospital exec resigns over ‘style’
Major Hospital CEO Tony Lennen says differences in personal style were key factors in his decision to resign suddenly on Monday. “There has been a lot of changes on our board,” Lennen, 50, said in an interview with IBJ. “I was uncomfortable. I don’t think we were in sync the way we used to be.” […]
Push for personal medicine boosts firm: Software developer RND is busy working on gene-based diagnostic devices
The future of medicine is personal. That’s been the mantra of the pharmaceutical industry for the last decade-since the human genome was sequenced for the first time. But before Eli Lilly and Co. and its peers can develop and sell drugs that treat only patients with a specific gene, it needs sophisticated devices to test if a patient has that gene. And those devices need sophisticated software to make them run. That’s where The RND Group Inc. comes in. The…
INVESTING: Candid e-mails chip away at Wall Street’s credibility
E-mail, today’s ubiquitous form of communication, is proving to be the smoking gun in a number of recent financial fiascos. The Securities and Exchange Commission recently released a draft of its investigation into the behavior of bond-rating firms during the subprime-mortgage-securitization craze. The report highlighted e-mails expressing the sentiment of the authors during the period-a sentiment in conflict with the Wall Street sales pitch being used to sell these securities to investors. One e-mail a Standard & Poor’s analyst sent…
VOICES FROM THE INDUSTRY: Genetic info act will do more than stop discrimination
The promise of personalized medicine-genetic tests that allow more informed and individualized health care decisions-has been blocked in recent times as patients struggle with the fear that those same genetic test results could bring genetic discrimination in the form of cancelled health insurance coverage or even the catastrophe of job loss. In 1997, Indiana enacted a state law protecting genetic screening or testing and prohibiting health insurers from considering any information obtained from such testing in a manner adverse to…
Interactive Intelligence looking past stock slump
Interactive Intelligence Inc. is enduring a serious stock slump. Its battered shares are trading around $10, about $20
off their 52-week peak. Yet CEO Don Brown remains so bullish on the software maker that he’s authorized a $10 million stock
buyback.EYE ON THE PIE: How I spent my summer vacation
Helen Heavybreath is one of the most intrusive persons in my life. She always wants to know, “Where have you been? What have you been doing? Whom did you see?” At least the woman’s grammar is good. Before she accosts me again, I will report my vacation activities. What do you think an economist would do this summer, given current circumstances? Quite naturally, high gasoline prices induced me to take a 3,000-mile driving vacation from Indiana into Colorado, New Mexico…
Startup NICO reassembles Suros’ management team: Medical-device maker aims to launch product soon
Medical-device maker Suros Surgical Systems was one of the fastest-growing companies in Indianapolis history. Just six years after forming it in 2000, founders sold it for $248 million. Is it any wonder they want to work together again? In late July, former Suros Chairman Jim Baumgardt and former Vice President of Sales Jeff Hanthorn joined locally based NICO Corp., the startup launched early this year by former Suros CEO Jim Pearson and Joseph Mark, one of Suros’ founders. The mission…