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Peter Schnitzler

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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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Government officials dangle incentives, attracting firms across county lines

Marion County economic development officials are proud of their latest headquarters attraction. Bowen Engineering Corp.
will inject 103 high-paying jobs into the Indianapolis economy immediately. And over time, the company expects
to add another 138. Their average salaries will top $70,000. The deal didn’t require Mayor Greg Ballard
to travel to Japan, or even to another state. Bowen Engineering is moving all of 8.4 miles, from its former
home in Fishers to the 8800 block of North Meridian 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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Ontario Systems names new president & CEO

One of Indiana’s biggest information technology companies is adding new leadership. Muncie-based Ontario Systems LLC, which develops debt-collection software, has named Tony Reisz as its new president and CEO. He replaces Ontario co-founder Wil Davis, who continues as chairman. Davis was not immediately available for comment. But co-founder Ron Fauquher said top management jobs had […]

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Recession squeezes local logistics industry

State economic development leaders remain bullish on Indiana’s future as a logistics hub even as two local players have been
forced into bankruptcy and others struggle with high fuel prices.

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CMG Worldwide takes tussle over vintage baseball cards to court

New York Yankees first baseman Lou Gehrig died in 1941 of a disease that came to bear his name. Six years later, second baseman
Jackie Robinson famously broke through baseball’s color barrier with the Brooklyn Dodgers, earning the league minimum $5,000.
He died in 1972. Mark Roesler believes the best earning years still lie ahead for both legendary players, as well as many
others like them. But first he must untangle their image rights in federal court in Indianapolis.

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Fishers planning tech incubator: Town hires former IU Emerging Technology Center chief to lead biz park

Fast-growing Fishers has the kind of assets economic developers dream about-strong schools, affordable housing and median family income of $81,971. Now the town wants to build on that foundation by adding a high-tech business park to its list of amenities. “Businesses are looking to come to a site where they can find employees with the requisite level of education and the ability to get additional education close by. Education is the key,” said Fishers Town Council President Scott Faultless. “We…

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UPDATE: Telamon plans to double local headcount

Carmel-based telecommunications firm Telamon Corp. announced this morning that it plans to add 250 jobs by 2012 and invest $3 million to update its local operations. The expansion would roughly double the 259 employees now at Telamon’s Carmel headquarters. The Indiana Economic Development Corp. offered $1.25 million in performance-based tax credits and up to $230,000 […]

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State Chamber of Commerce sues Christian counterpart

On June 15, the Indiana Chamber of Commerce, which represents more than 4,800 businesses around the state, filed a federal
lawsuit against the upstart Indiana Christian Chamber of Commerce. The complaint alleges trademark infringement, unfair competition,
counterfeiting and forgery.

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ExactTarget board adds heavyweights

ExactTarget, the local maker of e-mail marketing software, has attracted a pair of heavyweights to its board of directors. This morning the company announced the addition of CareerBuilder.com CEO Matthew Ferguson and venture capitalist Timothy Maudlin. Their expertise should boost fast-growing ExactTarget’s attempt at an initial public offering. In December the company filed paperwork with […]

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Former IU official decides to go solo: Mark Long’s consulting firm will assist entrepreneurs and innovative startups

Indiana University’s former economic development chief, Mark Long, shepherded dozens of scientists and entrepreneurs as they started businesses. Now he’s launched one of his own. This month, Long formed the consultancy Long Performance Advisors Inc. Based in Greenwood, it’s a platform for him to share his expertise in business formation and incubation. Long plans to help startups patent their intellectual property, write their business plans, and sharpen their proposals for federal money. In short, all the things he used to…

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Indianapolis tech sector shows modest growth

It’s still no Silicon Valley, but Indianapolis’ high-tech economy enjoyed a modest expansion last year, according to the latest annual Cybercities report issued by the American Electronics Association. The good news is that high tech employment grew in Indianapolis and surrounding counties last year, albeit by only 2 percent. The growth gave the region a […]

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Middle-market firms pack punch, study shows

Mid-sized companies are a lot like middle children in a family, a new Indiana Chamber of Commerce study has found. They tend to achieve a lot, but don’t get the attention they deserve. The businesses amount to only 3 percent of all businesses in the state, yet generate 30 percent of the jobs and more […]

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Director pay rising with demands on corporate boards: Some members manage to serve multiple Indiana public companies; median compensation exceeds $59,000

Joe Ruffolo learned a great deal over 35 years as an executive at PepsiCo., Squibb Corp., Reynolds Aluminum and North American Van Lines. Now running his own investment banking company, Fort Wayne-based Ruffolo Benson LLC, Ruffolo also holds seats on a halfdozen company boards. Executive compensation experts say that’s too much on one plate. Ruffolo is one of a handful of Hoosiers who serve as independent board directors of more than one Indiana-based public company. Experts say it’s an increasingly…

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Two central Indiana racinos debut amid tough economy

The next few weeks will be critical for the state’s two new racinos, which need to open with a splash to meet their ambitious
projections of drawing more than 3 million visitors apiece annually. Hoosier Park in Anderson will open June 2, and Indiana
Downs in Shelbyville will follow a week later.

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Dwindling unemployment trust nears crisis point: Fund that once held $1.6 billion may face insolvency

Indiana’s Unemployment Insurance Trust Fund is running out of money-fast. It opened this decade with $16.6 billion in assets. By the end of last year, it had dwindled to $302 million. And last month, the Indiana Department of Workforce Development said the balance was just $80 million. Though DWD in early May received $300 million in taxes collected from employers, the infusion is only a shortterm fix. By year’s end, the fund is expected to be short on cash again….

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Manufacturing solid in Indiana, study shows

Thanks to its improved efficiency, manufacturing is in much better shape in Indiana than conventional wisdom suggests, a new study says. The state is holding its own in workers employed in the sector, said the study, sponsored by Conexus, an Indianapolis-based not-for-profit that promotes manufacturing and logistics. Moreover, Indiana manufacturing workers are among the most […]

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Angels invest where others fear to tread: Wealthy entrepreneurs join forces to create HALO Capital Group

Some high-tech companies are so risky that even venture capitalists quiver. That’s when they turn to angels, who aren’t afraid to fly to the rescue of cash-strapped innovators with chancy yet possibly lucrative ideas. Last year, two dozen of central Indiana’s most successful business veterans decided to intercede on behalf of Hoosier entrepreneurs. They formed HALO Capital Group, a network of angel investors who seek to speculate on promising Indiana startups. Every other month, the HALO group meets at a…

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