The sliding value of the U.S. dollar is boosting financial results for some of Indiana’s big exporters. The dollar recently
hit its lowest point in 15 years against an index of other major currencies, such as the euro, the Chinese yuan and Canadian
dollar.
Alan G. Symons’ company, Fast Tek Group LLC, lost a court fight with Fishers-based competitor Product Action International
LLC in February. So Symons pushed Fast Tek into Chapter 11 bankruptcy protection in June–a move that clears the way for a
suitor to buy the assets without being saddled with the liabilities.
Growing up in Detroit, Andrew T. Porter had an early education in men’s fashion. The son of a minister, he recalls admiring the Sunday best of his father and members of the congregation. In his neighborhood, “there was a clothing store on every corner,” Porter said. “I always had an eye for putting things together. It came naturally to me.” Porter remained a student of fashion, even though he worked in manufacturing. When a friend who owned a Detroit clothing…
Electro-Spec Aerospace niche helped business’ revenue skyrocket Decades later, Franklin electroplating firm working to diversify its customer base It all started with spoons. These days, Franklin-based Electro-Spec is a $5 million a year electroplating company that produces components for the automotive, telecommunications and medicaldevice industries. That’s quite a change from its origins in 1959, when the company focused on spiffing up antique silverware. “It did silver and gold plating of family heirlooms,” said President Jeff Smith, who bought the company…
Riverside Manufacturing was a sleepy New Castle firm with $5 million in sales when Fred Merritt bought it to try his hand
at running a company. Five years later, Riverside’s sales have grown a whopping 800 percent, it dominates its industry, and
Merritt, 39, is ready to work his magic on an Indianapolis company.
This week marks the start of my tenure as director of Ball State University’s Bureau of Business Research. I take over from Pat Barkey, whose thoughts on the state’s economy have long graced this column. His will be hard shoes to fill. I have read over many of Pat’s old columns, and the one thing that stands out is how much we agree on the issues facing the state-and their solutions. Contrary to the old stereotypes, hard-headed economists usually come…
Less than a decade ago, diesel engines were viewed as loud pollution machines punching holes in the ozone. Now their cleaner,
quieter cousins are powering a resurgent Cummins Inc.
Miss Sugar repeated her dominance of the candy- and cakeeating contest at the Indiana State Fair. “Ya gonna write about property taxes again this week?” she asked as we rode the Ferris wheel high above the fairground lights. “I should, but I can’t,” I said. “My mind fades out when the topic comes up.” “So whatcha gonna write about?” she asked, chewing her taffy vigorously. “Plymouth,” I replied. “Da rock or da old car?” Miss Sugar asked. “The city in…
As a commercial and appellate litigator for Indianapolis-based law firm Baker & Daniels LLP, Kathy Osborn represents business and individual clients in state and federal court. She has faced formidable challenges, but one outside the courtroom proved especially difficult for the 42-year-old first-time mom: how to quiet her colicky son Harper when he awoke crying every night. A music lover, Osborn was certain she could find a musical mobile that would play a variety of soothing songs long enough to…
But that’s changing now, as the orthopedics juggernaut in Warsaw has spawned another company. Formed a year ago, OrthoPediatrics in October will launch its first 10 orthopedic implants designed especially for kids. The startup hopes to do research at the offices and hospital of OrthoIndy, a group of orthopedic physicians in Indianapolis. OrthoPediatrics’ niche is one that has been shunned by the larger orthopedic implant companies based in the northern Indiana city-Zimmer Holdings Corp., Biomet Inc. and DePuy Orthopaedics Inc….
There is an ancient Chinese proverb that says, “May you live in interesting times.” The saying possesses a sort of electric connotation, with hopes that one experiences an exciting lifetime. Yet in the historical use of this proverb, the interpretation of “interesting times” hasn’t always meant “good times,” with some recitals implying “dangerous times.” For investors, our times are certainly interesting. We have a global economy that is booming. Economic growth across the planet has never been in such harmony….
Five leaders of Indiana’s life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part of the Indianapolis Business Journal’s Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment bank Credit Suisse’s Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state’s life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a biotechnology company focused on the treatment of cancer through receptor-targeted…
When Hilton McBroom founded McBroom Electric in his parents’ garage in the midst of the Depression, he couldn’t have envisioned that the company would exist 75 years later-or what it would be doing. Back then, McBroom repaired anything someone would pay him to fix. Over the years, the company evolved from repairing washers, dryers and furnace motors (and selling Maytag products) to fixing electric motors in manufacturing machinery to its current concentration-repairing and remanufacturing specialty devices used by industrial customers…
Anchor Lou Dobbs of CNN is a pest to some folks and a hero for others. His recurring economic message laments a view of U.S. workers losing out as companies send jobs overseas. Dobbs’ critics, of course, cite his convenient omission of the many interna tional companies that invest in U.S. communities through new manufacturing plants, research facilities and other initiatives. Love the debate or detest it, but consider this: Hasn’t Dobbs helped stir a discussion about how the new…
Goodnews serves up economic and business reports about Indiana. Recently, I read his draft press release: “Indiana’s personal income rose to $211.1 billion in the first quarter of 2007. That is an increase of $8.2 billion, more than 4 percent in the past year.” “Is that it?” I asked. “Those are the latest facts from the U.S. Bureau of Economic Analysis,” he said. “Anything else would be putting a spin on the basic truth.” “Goodie,” I said, using his nickname,…
Of all the components of finding and hiring the right employees, employers consider interviewing job candidates the most difficult. If not done well, interviews can lead an employer to make the wrong decision. Why? Because job candidates rehearse their answers to the traditional interview questions, telling the employers what they want to hear. However, if employers ask behavioral based questions, job candidates can’t manipulate their answers as easily. Perhaps a scenario-a composite taken from typical real-life episodes-will illustrate the difference…
Banker Steve Tolen is attempting to resuscitate the electric car. Tolen believes conditions are ripe for an upstart automaker
to launch a safe battery-powered vehicle capable of rapid acceleration, highway speeds and over 100 miles of distance between
charges.
“Aye,” Fergus affirmed. “They’ll have tornado alerts and heavy-rain warnings,” I said. “They’ll flood us with high-water forecasts, beat upon us with hail reports, and show us maps that make us abandon all outdoor activity while we glue ourselves to the TV.” “‘Tis so,” nodded Fergus. “Those weather people are worse than economists when it comes to urging data on us,” I insisted. “Could be,” Fergus said. “No doubt about it,” I replied. “It wasn’t in the papers or on…
You usually have to swallow your pride when it comes time to forecast the growth of the Indiana economy. That’s because no matter what your heart says, your head tells you what the best forecast will be. That is the one that pulls up well short of growth in the rest of the country. There are a lot of talented people working hard around the state trying to change that. And if the full truth be told, most of our…
There’s been something peculiar going on in the business media in Indiana over the last few weeks. We’ve been beating ourselves up because the state is losing manufacturing jobs. Headlines about the decline are popping up, and state and local development officials are facing the bright light of media scrutiny. The chatter on Internet “talk-back” forums serves up plenty of people to blame-the governor, the unions, the Chinese and even our neighbors who buy imported goods. But if I could…
