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Articles

VOICES FROM THE INDUSTRY: Vibrant city can be built without oceans, mountains

May 23, 2005

In late April and early May, two things happened. The Legislature adjourned on time and Forbes magazine released its seventh annual list of the best (and worst) metro areas to develop businesses and careers. Forbes based its ranking on business costs, living costs, education levels of the work force, qualityof-life issues as well as job and income growth and migration patterns. Indianapolis ranked 33rd out of 150 of the country’s largest metro areas, and there’s some good news in that…

Elite execs raking it in: As pay swells, critics urge restraint

May 9, 2005

Special Report: Elite execs raking it in As pay swells, critics urge restraint Highest-paid Indiana public company executives in fiscal ’04. Includes salary, bonus and other annual compensation, as well as long-term pay and stock option grants. 1) includes $1.7 million signing bonus received upon becoming CEO and president in August 2004 Turns out life’s certainties stretch way beyond the cliché about death and taxes, especially in corporate Indiana. If you’re a top executive at one of Indiana’s biggest public…

Stutz’s future includes condos: Developer envisions high-rise, nightclub as part of biz center

May 9, 2005

Stutz Business Center owner and visionary Turner Woodard last month rolled out a 10-year master plan for the Stutz that could bring condominiums, retail and a high-rise tower to the former auto-manufacturing plant at 10th Street and Capitol Avenue. Right now, Woodard concedes many of his plans are dreams. But with a blossoming life sciences corridor just to the west along the Central Canal, Woodard said he wants the 80-year-old Stutz to continue to be a hub of activity as…

Demand stokes Coke: After slump, Citizens Gas unit adds workers, expects profit

May 9, 2005

The bituminous-belching behemoth is as close as this city gets to 19th century industry. It is an anathema to economic strategists who would leave smokestacks behind and recast Indianapolis as a haven for the clean rooms of high- and biotechnology. And neighbors fear it’s the source of elevated levels of benzene and other chemicals blamed for cancer. Yet the politically and environmentally incorrect Indianapolis Coke appears to be on a comeback-at least financially. The subsidiary of Citizens Gas & Coke…

Cleanliness is being undervalued EYE ON THE PIE Morton Marcus:

May 9, 2005

This column has been too glum recently. That is the result of observing what happens in the General Assembly where the many good things done (for example: a stiffer open alcohol container bill) are outweighed by the silliness (daylight-saving time). Let’s take a rest and praise some people who are doing something noble and important. A coalition of clergy, civic groups and labor unions are trying to get higher wages and benefits for janitors in the Indianapolis area. Currently, most…

Applied Engineering Services Inc.: Engineering firm builds clientele slowly

May 9, 2005

Starting a new company is a tricky business, even if you’ve done everything right. Applied Engineering Services had the funding, the contacts and the skills it needed when it started in 1998. Still, the first year or so was hardly easy. “We didn’t hit the ground running,” recalled Terry DeBoo, one of the principals in the company. “The first year was pretty tough.” Applied Engineering is a consulting engineering firm that focuses much of its business on the central utility…

Convention payoffs won’t be instant: New deals, development unlikely until construction begins

May 9, 2005

The much-ballyhooed battle about funding for a new stadium and expanded convention center downtown appears to be over, but it will be some time before the victors get the spoils. Although state lawmakers authorized a series of tax increases to pay for the $900 million project, plenty of work remains to realize the promised payoffs-increased convention business, additional development and a shot at hosting the Super Bowl. “I don’t expect to see any of that until construction starts,” said Indianapolis…

STATEHOUSE DISPATCH: With session behind him, Daniels readying for next one

May 9, 2005

At the beginning of the session, Gov. Mitch Daniels told Hoosiers to fasten their seat belts. We told you to expect the session to follow Mario Andretti’s philosophy: “If everything seems under control, you’re just not going fast enough.” The session began like a heat at the U.S. Nationals drag races in Clermont-quickly out of the blocks. Things seemed to bog down midway, reminding us of the Brickyard 400. The finish held form, however, with the governor downing the legislative…

Organizers have turned pro: It’s a hot field where most practitioners are women

May 9, 2005

You know who they are-the “neatniks” who always have everything so well organized. You can practically see a thought bubble hovering over them that says: “A place for everything and everything in its place.” Now they’ve discovered they can capitalize on their natural tendencies by becoming professional organizers. It’s a hot field that’s growing as fast as the paper piles in you-know-who’s office. Membership in the National Association of Professional Organizers has soared from 2,100 in February 2004 to 3,300…

STATEHOUSE DISPATCH: Budget process smoother, but effect uncertain

May 2, 2005

As legislative veterans well know, there is nothing like a deadline to force action. The April 29 date for final adjournment of the Indiana General Assembly’s 2005 session did just that-helped along by new House rules requiring a proposed budget to be available to lawmakers at least 24 hours before a final vote. After some four months of sorting through philosophical issues, fiscal issues, political issues and sometimes even personal issues, lawmakers finally reached agreement on a biennial budget. At…

Hilbert defeated on life policies: Conseco had purchased $87.5M in coverage in ’98

May 2, 2005

Seven years ago, Conseco Inc. purchased $87.5 million in life insurance coverage for company founder Stephen Hilbert and his wife, a move that seemed to assure vast wealth would pass on to the Hilbert family after their deaths. But in a new ruling, Chicago bankruptcy Judge Carol Doyle said Conseco’s obligation to provide coverage terminated when the company filed for Chapter 11 protection in December 2002. As a result, she ruled, Hilbert family trusts, which had filed millions of dollars…

The old college try: Struggling IndyGo courting campuses to boost ridership

May 2, 2005

One solution for a city bus system struggling to lure riders might be academic-get college students on board. The Indianapolis Public Transportation Corp. is in talks with colleges and vocational schools about the potential of discounted fares for students who opt to take the bus to and from campus. The push also has a longer-term goal of conditioning students to use public transportation after they graduate to the work world. Financially sputtering IndyGo, which finished 2004 in the black only…

State should target schools, not tourism EYE ON THE PIE Morton Marcus ______:

May 2, 2005

Our dear friends in the Indiana General Assembly continue to support the idea that tourism should be a state-subsidized industry. It is bad enough that we subsidize biotechnology and the Indianapolis Colts, even though we would object if any of the Colts used some of that good biotech to enhance performance. The first problem with tourism is that it creates very few well-paid jobs. Most jobs in tourism make our workers servants to other people who leave their towels on…

Charter service center works to broaden its reach: Collaborative programs a focus for organization

April 25, 2005

No charter school is an island-at least not from Kevin Teasley’s perspective. In fact, the independence at the very core of the charter movement creates demand for the kind of assistance his Charter School Service Center offers. “The fact that we have our own charter school makes us more helpful to others,” said Teasley, CEO of Indianapolis-based Greater Educational Opportunities Foundation. “We know what they need. Or at least we think we do.” GEO Foundation, which operates 21st Century Charter…

Experts see improving market: Higher occupancy rates, more construction projects mean good news for landlords, developers

April 25, 2005

IBJ: Is your sector of the construction or real estate industry better or worse off than a year ago and why? BURK: Overall, I think the Indianapolis office market is better off than it was a year ago. The occupancy rate for the 29-million-plus square feet of multitenant office properties in the market increased by about 2 percent last year, to 82.5 percent. There was positive net absorption of about 600,000 square feet, most of which occurred in the suburbs….

EYE ON THE PIE: Lessons from a low-profile death

April 25, 2005

Worldwide, about 57 million people will die this year. Few will make headlines like Pope John Paul II and Terri Schiavo did. Many will die as did Kianna Rowe Karnes of Indianapolis, attended by family but abused or neglected by the health profession. Karnes was 44 when she died a few weeks ago from kidney cancer. She was not brain dead. She was not at the end of a long life, but in the rich, middle years where she could…

Health builders thinking small: Local hospital development in for change

April 25, 2005

Just north of Indianapolis, Clarian Health Partners plans to open a 170-bed hospital this December, a suburban complement to the 76-bed hospital it opened last December in Avon. To the south, St. Francis Hospital and Health Centers unveiled a heart center in March, counterbalancing the two stand-alone heart hospitals that sprang up on the north side a few years ago. These projects offer a snapshot of how health care development has progressed over the past few years in central Indiana….

Kite’s plan sparking controversy: Condos near Fashion Mall likely to face ‘battle royal’

April 25, 2005

A partnership headed by Paul Kite has ambitious plans for a mixed-use development featuring midrise condominium towers and retail space on the last undeveloped corner of 86th Street and Keystone Avenue. A proposal from PK Capital LLC, Kite’s partnership, calls for more than 180 condos and about 60,000 square feet of retail space on the north side of 86th Street between Haverstick Road and Keystone Avenue. The 10-acre property lies just south of Our Lady of Peace Cemetery and a…

STATEHOUSE DISPATCH: General Assembly’s shooting the three! Boom Baby!

April 25, 2005

Typically, when lawmakers are this near to reaching agreement on a state budget, it’s some time in early or mid-May, and we’re trying to pepper this column with analogies to the Indianapolis 500. However, we started the year with a race analogy-the one about Mario Andretti suggesting that if you felt like you were under control you weren’t going fast enough-and since the Indiana Pacers seemed destined for a brief playoff run this year, we probably ought to stick to…

SPORTS: Pacers’ comeback year extends post-season roll

April 25, 2005

Or to pile on a landfill. A season on the stink. In the hours and days following that fateful evening of Nov. 19 at the Palace of Auburn Hills, Mich., where a momentary lapse turned into a monumental set of calamitous circumstances, it seemed there would be little for the Indiana Pacers to salvage. A championship was simply out of the question, and with the removal of that “One Goal”-the team’s marketing slogan-it seemed the season would be nothing more…

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