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    David Bordenkecher

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Articles

Standard Life sale leads to lawsuit over price: Kentucky buyer claims $652,000 refund is owed

November 21, 2005

Standard Management Corp. last week disclosed a new round of financial challenges and was hit with a lawsuit by a Kentucky company that bought its Standard Life Insurance subsidiary earlier this year. Louisville-based Capital Assurance Corp. accuses Standard Management of breaching terms of the contract to sell Standard Life and seeks a $652,126 refund, according to the lawsuit filed Nov. 14 in federal court in Indianapolis. Standard claims it owes only $43,000 in what it deems a “purchase-price adjustment dispute,”…

‘Backward’ thinking seen as key to future: Students hope experiential history puts them on promising career path

November 21, 2005

As counterintuitive as it sounds, “experiential history” is one of seven key careers, besides usual suspects like logistics and bioinformatics, that are the focus of the University of Indianapolis’ Institute for Emerging Careers. No, drug testing of college faculty isn’t among the emerging careers. The institute was formed last year with a $750,000 Lilly Endowment grant. It aims to stem the so-called “brain drain” of Indiana’s college graduates to other states in search of work-in part by pointing them in…

Higher stadium price looms: Hurricanes likely to blow up costs for construction projects

November 21, 2005

The Gulf Coast hurricanes may push construction costs sharply higher for several years, experts say, potentially adding millions of dollars in costs to the $625 million football stadium as well as other public projects in their early stages. “Even a 1-percent cost increase on a project like [the stadium] is significant, and the effects from these hurricanes is likely to be higher than that,” said Patrick Barkey, an economist and director of economic and policy studies at the Miller College…

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…

BEHIND THE NEWS: Hilbert’s next act: Jumping into private equity game

November 14, 2005

Stephen Hilbert suffered another legal defeat last week. But don’t bet the founder and ex-CEO of Conseco Inc. is sitting around feeling sorry for himself. In fact, this fall Hilbert, 59, is quietly launching a major new business, one that will get him back into the acquisition game, a field he savored during his two decades atop Conseco. Details are sketchy, because Hilbert isn’t talking. But here’s what a little snooping turned up: Attorneys in July filed papers with the…

Auto firms steer clear of a trial: Automotive Finance Corp., Dealer Services settle suits, sidelining 12 employees

November 14, 2005

Vehicle auction giant Adesa Inc. and a firm founded by ex-employees have halted a demolition derby in which each alleged the other tried to wreck its competing vehicle finance business. Prominent in the settlement reached last week in Hamilton Superior Court between Adesa’s Automotive Finance Corp. and newcomer Dealer Services Corp.-both based in Carmel-is a requirement that a dozen DSC employees take paid leaves of absence ranging from two to six months. A u t o m o t ive…

RETURN ON TECHNOLOGY: Will vicious bloggers be downfall of business?

November 14, 2005

A Forbes magazine cover story has set the techie world ablaze with indignation (www.forbes.com). Forbes, perhaps most famous for its list of the world’s wealthiest people, in its Nov. 14 issue ran a piece by Daniel Lyons portraying Internet blogs as nothing short of terrorist weapons targeting American businesses. In “Attack of the Blogs,” Lyons lists people and companies that were humiliated, brought low, had their share values demolished, or were otherwise savaged by vindictive bloggers. For the uninitiated, “blog”…

Ice Miller experiment turns financial corner: IMSS is only area sports agency licensed by NFL, NBA

November 7, 2005

At a time when many sports agents are getting squeezed out by mega-agencies with Shaquille O’Neal’s mass and New York Yankee-like resources, a small Indianapolis firm is becoming a real player. A curious experiment launched in August 2001 by local law firm Ice Miller has become a profitable venture despite long odds and a slow start. “It’s fair to say that launching this effort has been harder than we thought,” said IM Sports Services LLC Chairman John R. Thornburgh. “After…

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…

SPORTS Bill Benner: Peyton on paychecks and his final pass

November 7, 2005

Part II of my no X’s-and-O’s interview with Indianapolis Colts quarterback Peyton Manning: Benner: Conseco Fieldhouse could be called the House That Reggie Miller Built. Obviously, a great number of people have been involved in the new stadium. Yet it could be known as the House That Peyton Built. How do you feel about your role in elevating the franchise to the point where the stadium became a necessity? Manning: It gets me excited. That we can have a state-of-the-art…

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…

BEHIND THE NEWS: Zyprexa staggers, spurring worries over Eli Lilly’s future

October 31, 2005

Sure, Eli Lilly and Co. has a promising portfolio of new drugs and other potential blockbusters in the pipeline. But every time the Indianapolis drugmaker reports profits, Wall Street analysts spend much of their time slicing and dicing one number: Zyprexa sales. Their greatest fear: The schizophrenia medication will stop pulling its weight before other drugs pick up the slack, sapping sales and profits and further depressing the company’s already deflated stock. Indeed, the stakes are huge. Zyprexa sales in…

Banks embrace checking reprieve: Growing program frees potential customers

October 31, 2005

Banks and credit unions statewide will soon have a larger pool of customers to tap into when a central Indiana program that helps people barred from opening checking accounts expands. Get Checking, a national program that began at the University of Wisconsin-Milwaukee in 2001, is a way for people who have landed on the ChexSystem register-a list of consumers barred from opening an account-to get off the list. People find themselves in ChexSystem due to bouncing too many checks, failing…

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…

Medicaid presents crime of opportunity: Fraud investigators see steady stream of people ripping off the system

October 31, 2005

Pictures may be worth a thousand words, but they could cost dentist Michael Bajza $200,000 and six months of home detention. The Griffith dentist pleaded guilty in federal court this month to one count of health care fraud. He admitted asking Medicaid for reimbursement of oral Xrays when he knew his employees had only taken photographs of patients’ teeth. Bajza and Thomas Hoshour, a former operator of central Indiana detox centers who is scheduled for sentencing Nov. 4, are but…

Industry: Let’s build minority business: Construction consortium working on diversity

October 31, 2005

A consortium of some of central Indiana’s biggest players in construction has set its sights on improving minority involvement in the $8-billion-a-year industry. The Indiana Construction Roundtable, an organization made up of some of the biggest users and providers of construction services, on Oct. 12 approved a diversity outreach initiative. The ambitious plan aims to increase minority participation in the construction industry by rewarding contractors who support education and training, employ minorities and women, and mentor small minority- and women-owned…

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…

Ahnafield helps disabled achieve self-dependence: 34-year-old firm makes high-tech mobility products

October 24, 2005

Driving a road sweeper when he was 18 years old, Ryan Kruse never saw the train that slammed into his vehicle and turned him into a quadriplegic. College and other plans for the future seemed out of reach for Kruse, who was paralyzed from his chest down that day 13 years ago. But recently, Kruse, who is working on a second bachelor’s degree at IUPUI, traveled to Georgia to celebrate his grandmother’s 80th birthday. He drove. With only limited use…

NOTIONS: Blessed by quality, cursed by access

October 24, 2005

Hetrick last week won the Lawrence H. Einhorn, M.D. Award from the Little Red Door Cancer Agency. A cancer survivor himself, Hetrick was recognized, in part, for IBJ columns about people with cancer, especially his wife, Pam Klein, who died in March at 49. He also was honored for advocating anti-smoking legislation. Following are excerpts from his prepared acceptance remarks. I don’t deserve this award. I don’t wield a scalpel, administer chemotherapy, invent drugs, change bed pans, hold patients’ hands,…

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…

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