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BEHIND THE NEWS: Smulyan has dual roles, complicating buyout bid

May 15, 2006

The most interesting line in the press release announcing Jeff Smulyan’s proposal to buy out other Emmis Communications Corp. shareholders and take the company private didn’t appear until the second page. “[Smulyan] advised Emmis’ board that [he] will not agree to any other transaction involving Emmis or his shares of Emmis,” the statement read. The unequivocal message to buyout firms and rival radio companies: Don’t bother making a bid to buy my company. If you do, you’re wasting your time….

EYE ON THE PIE: Sometimes competition is a bad thing

May 8, 2006

You are getting older, living alone. You want to continue living where you are. You don’t want to move in with your children and you think they might not want you. You don’t want to move to some assisted-living place and give up so much of what you have known for so long. You are disabled or otherwise unable to cook for yourself. Where do you turn? Your first thought is Meals on Wheels. You (or a member of your…

Colleges tweak study-abroad programs: As student participation rises, schools make changes to offset loss of tuition

May 8, 2006

The University of Indianapolis used to forfeit thousands of dollars in tuition from students studying abroad in the shadows of the Acropolis in ancient Greece. That is no longer an issue, however, because U of I assumed full ownership of its branch campus in Athens two years ago from separate management that previously received tuition from students spending a semester there. “That’s one way we can cut back on the loss, because they’re still enrolled with us,” said Mimi Chase,…

Opera in fight to avoid finale: Organization embraces co-productions as a way to keep the Fat Lady at bay

May 8, 2006

It might be facing a $350,000 deficit, a round of staff cuts and a scaled-back production schedule, but the Indianapolis Opera isn’t ready to cue the Fat Lady quite yet. Instead, the not-for-profit arts organization is employing a series of cost-saving measures intended to keep her off the stage indefinitely-including a greater emphasis on sharing production expenses with other opera companies. Co-producing is an increasingly popular strategy among performing arts groups looking to make the most of their limited resources….

SPORTS: This is the time and place for an open-wheel marriage

May 8, 2006

It’s May, so here’s something we should want to see even more than the field of (we hope) 33 taking the green flag on Race Day, something we should want to hear even more than Tom Carnegie’s baritone, something we should believe would have an even more positive long-term impact on open-wheel racing than a victory by Danica Patrick. Indeed, the best news to come out of this May would be the great news for next May. And that would…

BULLS & BEARS: Marsh, Suros deals a study in how to value businesses

May 8, 2006

Two recent Indianapolis business deals have provided local investors with excellent case studies in business valuation. What is truly instructive is that these acquisitions are polar opposites based on the valuation methods employed and in the future expectations the buyers have for these two businesses. They are the announced purchase of Marsh Supermarkets Inc. for $88 million by Florida-based Sun Capital Partners and the acquisition of Suros Surgical Systems for $240 million by Massachusetts-based Hologic Inc. In the Marsh acquisition,…

Bloomington’s Cook tightens women’s health focus: New business unit plans summer product rollout

May 8, 2006

Privately held Cook Inc. has added a seventh business unit in a bid to strengthen its presence in the growing market for gender-specific health care products, a move that could bring jobs to southern Indiana. The Bloomington-based medicaldevice maker will unveil its Women’s Health unit May 8 in Spencer. The unit actually started operating last September, initially taking on a combination of products pulled from the company’s urological unit, also in Spencer. But Women’s Health leader Christina AnnÃ© said it…

Boutique high schools could bolster work force: Movement targets students who need extra help and otherwise might not pursue higher education

May 1, 2006

Two school districts have received pivotal funding for “early college high schools” to prepare secondary students for the rigors of college and give them the opportunity to earn college credits before setting foot on campus. The initiative also could be a plus for area employers to the extent it improves the pool of qualified workers locally. Indianapolis Public Schools’ Crispus Attucks Medical Magnet/Early College High School and the Metropolitan School District of Wayne Township’s Early College High School each received…

Emmis fights radio doubt: CEO Smulyan defends his struggling industry as stock price continues to slide

May 1, 2006

Emmis Communications Corp.’s stock has fallen 80 percent in six years. Revenue from its radio stations is falling short of Wall Street expectations. And its bid for Major League Baseball’s Washington Nationals is running third in a three-horse race. But Emmis CEO Jeff Smulyan is as optimistic as he’s been in months. “I’m upbeat because I think this industry is ready to turn the corner, and Emmis is turning the corner,” Smulyan told Wall Street analysts after his company released…

EYE ON THE PIE: Mysteries abound in Indiana

May 1, 2006

There is so much I do not understand about Indiana. After living here for 35 years, after visiting every county and traveling almost every mile of state highway, after making friends with thousands of Hoosiers, I am in the dark on so many issues. Here are three examples: Example 1: What do Mitch Daniels, Arnold Schwarzenegger of California, and Kathleen Blanco of Louisiana have in common? They are all governors who have massive approval deficits. According to Survey USA (and…

Telecom CEO cited mother’s death in plea to avoid fine: Utility regulators stood firm on $1.1 penalty against Micronet; Wyoming company plans to appeal

April 24, 2006

Of all the curious legal filings with the Indiana Utility Regulatory Commission since the late 1800s, Frank Santa’s might be the first to use the death of a mother as a defense against financial sanctions. And it’s likely the first utility filing in the last 100 years to include the death certificate of a Hungarian widow. The president of Casper, Wyo.-based Micronet Inc. stated in a Feb. 3 filing with the IURC that his firm shouldn’t have to pay a…

Right decision crucial for small firms:

April 24, 2006

Of course, trying to be less subjective does not mean you shouldn’t consider “fit” with the organization’s culture. In a small company, fit can be critical. One way to attempt to reduce early turnover is to use the “realistic job preview,” in which prospective employees are given both the positive and negative aspects of the job, as opposed to the traditional approach of “selling” the firm. If individuals aren’t going to enjoy the job, it’s better to know it before…

Negotiations halted over sale of HealthCare Group: M-Plan owner, Medical Mutual ‘agree to disagree’ but leave door open

April 24, 2006

A plan to merge the parent of Indiana’s largest HMO with an Ohio insurer has fallen through, but both companies continue to shop for other deals. Cleveland-based Medical Mutual of Ohio a month ago cut off negotiations to buy The HealthCare Group LLC of Indianapolis, which operates M-Plan Inc. But Medical Mutual “would never say never” to future overtures, said Michael Taddeo, the insurer’s vice president of national network development. “We’ve agreed to disagree,” he said, declining to elaborate on…

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

April 24, 2006

Ingersoll Rand Security Technologies has been named NASCAR’s first official provider of security products, a deal that could mean substantial growth for the company’s Carmel headquarters and an Indianapolis manufacturing plant, which together already employ 900. IRST is a division of Bermuda-based behemoth Ingersoll-Rand Co., which is better known for agricultural, construction and transportation equipment sold under names such as Bobcat and Thermo King. The link with the racing circuit is expected to drive home the point that Ingersoll-Rand is…

Real estate club members gain industry knowledge: Indiana University organization enjoys growth spurt

April 24, 2006

As the new headquarters building for Simon Property Group Inc. was going up downtown last fall, a group of Indiana University students donned hard hats and toured the 13-story building. After riding the construction elevator to the top floor, students got a bird’s-eye view of the city and a firsthand account from the developers about the building’s cost, size and challenges in constructing it. The students were members of the IU Real Estate Club, and the tour of the 350,000-square-foot…

Keeping up with CEDIA: Group’s new boss shares successes, challenges

April 17, 2006

The locally based Certified Electronics Designers & Installers Association recently selected Don Gilpin as its new executive director. Gilpin, 42, is an eightyear veteran of the trade group and had served as executive vice president. The Minnesota native and Franklin College graduate spoke with IBJ about his appointment and the issues facing the organization. IBJ: As executive director of CEDIA, what is your role? GILPIN: CEDIA has different departments within it, and they range from expo to marketing to legislative…

Bank’s price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity

April 17, 2006

No wonder word leaked early this year that Union Federal Bank was about to be sold. A new federal filing reveals that a deal had been brewing since early last year-spawned largely by mounting frustration among investors that they were unable to turn their stake in the bank’s privately held parent, Fort Wayne-based Waterfield Mortgage Co., into cash. “The concerns over liquidity were voiced by many shareholders at Waterfield Mortgage’s annual shareholders’ meeting in the spring of 2004,” according to…

SPORTS Bill Benner: Is blowing up Pacers roster a risk worth taking?

April 17, 2006

On the last day of the regular season, many professional teams schedule “fan appreciation” ceremonies. Judging by the numbers of empty seats in Conseco Fieldhouse, the Indiana Pacers might hold “fan depreciation” night April 19 when the regular season comes to a merciful conclusion. The paying customers, as is their wont, are voting with their feet. Time to spend their evenings at home, or outdoors, enjoying the benefits of daylight-saving time (blame it on Mitch!), rather than witnessing another dark…

Paid boards spur not-for-profit debate: Critics: If directors won’t give time, who will?

April 17, 2006

Indianapolis-based USA Funds is a large, complex organization, and members of its governing board are busy people. Same goes for the NCAA, another local not-for-profit with a national reach, a nine-figure budget and directors who are anything but professional volunteers. The two organizations have one key difference, though: USA Funds pays its board members. The NCAA does not. “It’s simply the nature of the world,” said Norm Lefstein, an Indiana University law professor who chairs the compensation committee at student-loan…

CFO had humble start: Eli Lilly veteran lands in high-profile, high-pressure role

April 17, 2006

Derica Rice started figuring out his future the day he glanced in his mother’s refrigerator and actually paid attention to the insulin vials stored there. Eli Lilly and Co.’s new chief financial officer recalled being home at the end of a summer. He was fresh off an internship with another company and was in casual job talks with Lilly representatives. He had seen the clear vials his mother, Inez-a Type II diabetic-stored in her fridge, but he never read the…

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Articles

BEHIND THE NEWS: Smulyan has dual roles, complicating buyout bid

EYE ON THE PIE: Sometimes competition is a bad thing

Colleges tweak study-abroad programs: As student participation rises, schools make changes to offset loss of tuition

Opera in fight to avoid finale: Organization embraces co-productions as a way to keep the Fat Lady at bay

SPORTS: This is the time and place for an open-wheel marriage

BULLS & BEARS: Marsh, Suros deals a study in how to value businesses

Bloomington’s Cook tightens women’s health focus: New business unit plans summer product rollout

Boutique high schools could bolster work force: Movement targets students who need extra help and otherwise might not pursue higher education

Emmis fights radio doubt: CEO Smulyan defends his struggling industry as stock price continues to slide

EYE ON THE PIE: Mysteries abound in Indiana

Telecom CEO cited mother’s death in plea to avoid fine: Utility regulators stood firm on $1.1 penalty against Micronet; Wyoming company plans to appeal

Right decision crucial for small firms:

Negotiations halted over sale of HealthCare Group: M-Plan owner, Medical Mutual ‘agree to disagree’ but leave door open

NASCAR a big deal for IRST: Role as security products provider could be worth $100M

Real estate club members gain industry knowledge: Indiana University organization enjoys growth spurt

Keeping up with CEDIA: Group’s new boss shares successes, challenges

Bank’s price fell $100M: Union Federal buyer cut offer as negotiations dragged on; investors pushed for liquidity

SPORTS Bill Benner: Is blowing up Pacers roster a risk worth taking?

Paid boards spur not-for-profit debate: Critics: If directors won’t give time, who will?

CFO had humble start: Eli Lilly veteran lands in high-profile, high-pressure role