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Lilly Endowment crawls toward diversification goal: Bear market, low Lilly stock price slow selloff

Lilly Endowment Inc. is still on its journey to sell off $2 billion of its Eli Lilly and Co. shares. But after a slow start and a few stops for rest, it may take a little longer to get there than originally thought. The endowment, the single largest holder of Lilly stock, announced its plan to diversify its holdings back in July 2006. For nearly 70 years, the not-for-profit held its wealth almost exclusively in the pharmaceutical company’s stock. So…

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VIEWPOINT: Advancing manufacturing is key to future

We’ve all heard it: Our economy is creeping to a crawl. Skyhigh oil prices, a weak housing market and the struggling U.S. dollar are discouraging consumers and business owners alike. Fears about our nation’s fiscal health are shaking broader confidence in the banking industry, the system of global trade, and even our public image abroad. In the face of such adversity, it’s helpful to remember that Americans have faced daunting challenges in the past. In tougher times, such as the…

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VOICES FROM THE INDUSTRY: China, higher education and our economic future

In mid-September, I’ll be traveling to China’s Liaoning province as part of a delegation led by Indiana State University, hosted by Liaoning University. We’ll arrive in the country too late for the Olympics, but we’ll be there to talk about another form of global competition-economic development. It’s appropriate that the two universities are co-hosting a conference on economic development issues, given the importance of human capital in our economy. It’s especially appropriate for China, where higher education has become a…

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VIEWPOINT: Recruiting: If you lie down with dogs …

The recent episode involving former IU basketball coach Kelvin Sampson underscores how badly broken is our system of recruiting and qualifying top leaders. Reference checks by highly paid professional recruiters failed to turn up the true nature of this leader. Yes, we all were aware of his lack of character at the University of Oklahoma, but were there signs of this lack of character in his past at Montana Tech or Washington State University? One would hope the recruiters went…

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VIEWPOINT: Recruiting: If you lie down with dogs …

The recent episode involving former IU basketball coach Kelvin Sampson underscores how badly broken is our system of recruiting and qualifying top leaders. Reference checks by highly paid professional recruiters failed to turn up the true nature of this leader. Yes, we all were aware of his lack of character at the University of Oklahoma, but were there signs of this lack of character in his past at Montana Tech or Washington State University? One would hope the recruiters went…

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Anderson gets a 50-foot rabbit

Nestle has gotten the green light from the city of Anderson to build a 50-foot-tall rabbit near the companyâ??s
new Nesquik plant along I-69.

The steel and fiberglass rabbit will look like the smiling cartoon logo thatâ??s been on…

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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…

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Brightpoint moving HQ back to Indianapolis from Plainfield

Wireless-device distributor Brightpoint Inc. is moving its headquarters from Plainfield to northwest Indianapolis, near
where it was founded almost 20 years ago. The company, which has about 65 headquarters employees and about
1,000 workers in Indiana, plans to share a new building with software developer Interactive Intelligence
Inc. and engineering firm Woolpert Inc. along Interstate 465 north of West 71st Street.

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Regulators fight to assess health risks in local plant: Sensient Flavors files lawsuit to prevent inspection

Federal regulators specializing in chronic-disease prevention are attempting to investigate a west-side food additives manufacturing plant. But Sensient Flavors is fighting in federal court in Indianapolis to prevent their inspection. On July 14, Sensient sued the National Institute for Occupational Safety and Health, part of the Atlanta-based Centers for Disease Control and Prevention. Sensient Flavors is an Indianapolisbased subsidiary of Sensient Technologies Corp., a publicly traded Milwaukee firm that makes artificial colors, flavors and fragrances used in a variety of…

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EYE ON THE PIE: Uneven job growth plagues state

Should the next U.S. president be concerned about uneven job growth? Or should he just let the market determine which states prosper and which struggle? There is no explicit national job policy to bring employment to slow-growing areas. Neither Sen. Barack Obama nor Sen. John McCain has ventured to discuss the issue. Job growth is left to the states, with each competing against the others in an expensive battle of subsidies. From 2002 to 2007, the number of U.S. jobs…

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Incentives as a way of life

Competition for jobs and investment has become so fierce that companies with a good growth plan are firmly
in the driverâ??s seat.

A local example is Bowen Engineering Corp., which is asking for $290,000 in incentives from Indianapolis to
move its…

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Entrepreneur has high hopes for deck-chair markers

In late May, Darrell Bowman launched Lounge Hats LLC, an Indianapolis-based company that makes fabric covers that fit over
beach or pool-side chaise lounges to make one thing clear: This seat is taken. Bowman withdrew $20,000 from personal savings
and added another $50,000 from an investor, his friend Mike Oswalt, to start the company. He runs Lounge Hats out of his garage,
hiring a Chinese company to sew the hats and contracting with a local printer to finish them off.

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Networks help practices extend their reach:

Outside of Indiana, the local law firm of Bose McKinney & Evans LLP has a nominal presence in Washington, D.C., and Raleigh, N.C. Yet, the midsize practice with roughly 130 lawyers in Indianapolis is handling an immigration issue for a fellow firm in India and is encouraged about prospects in Argentina, Colombia and Puerto Rico. Global gigs typically are reserved for larger rivals with an international scope. But scores of firms that want to expand their reach, without the risk…

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The next 100 years

Thereâ??s nothing like travel to change oneâ??s perspective on the world.

Graham Toft, perhaps the stateâ??s most experienced economic development expert, has traveled a lot in the past
couple of years, consulting to state governments worried about rebounding from their doldrums.

The…

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INVESTING: It’s time to put together list of stocks to purchase

I’m sure you’ve noticed by now that the stock market is having a few problems. Your statements are getting a little harder to open, and it’s a little more difficult to stay interested in potential investments. I hear from some people, though, who haven’t lost all of their money yet, and they want to know what and when they should buy. My answer is the same as it has been since late September: nothing and not yet. But at this…

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More manufacturing? Maybe Butler did it: University’s accelerator helps plants boost business

Ten years ago, Bob McAfee bought SaniServ, an 80-year-old Mooresville institution that pioneered the making of softserve ice cream machines for restaurants. Despite the manufacturer’s longevity, a handful of competitors-one of them much larger and two roughly the same size-had cut into market share, causing SaniServ’s annual revenue to stall at about $10 million. Determined to improve upon the figure, but unsure how to go about it, McAfee turned to the Butler Business Accelerator. The 2-year-old consultancy on the Butler…

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Powerway lays off 14 after losing software deal with Chrysler

Locally based Powerway Inc. is scrambling to shrink its work force and remake its business plan after the firm’s most lucrative
customer–the ailing automaker Chrysler LLC–said it will no longer use Powerway software or mandate its use among the company’s
hundreds of suppliers. Powerway laid off 14 employees and slashed salaries for many who remain after it learned of Chrysler’s
plans on June 6.

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VOICES FROM THE INDUSTRY: There are Six Sigma options; Here’s a look at six of them

While many manufacturing companies are implementing Six Sigma for continuous process improvement, it may not be the most practical solution for every company. Smaller manufacturers can benefit from applying many of the tools found in the Six Sigma methodology, but on a more manageable scale for daily process improvement. While far from a complete list, the following six practical tools may be used by smaller companies who are motivated to continually streamline production and improve productivity: Key performance indicators Most…

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