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Peter Schnitzler

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Mass-transit movement focuses on education: Passenger projections, search for director delay effort

Efforts to secure a mass-transit system for central Indiana are moving ahead. But not rapidly. Several mass-transit bills are pending in the General Assembly-including one requiring the Indiana Department of Transportation to study building a rail system from Indianapolis to Muncie, and another encouraging development of mass-transit systems across the state. But neither is likely to result in immediate funding for a system serving Indianapolis commuters. Local mass-transit advocates still are a long way from winning over lawmakers and others…

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Virtual bank making ‘solid’ move into lending: First Internet Bancorp. expands into mortgages with Landmark acquisition

Online banks usually avoid brick-and-mortar overhead. Eliminating expense is the core of their business advantage. So why did First Internet Bancorp spend $12 million to acquire traditional mortgage lender and savings bank Landmark Financial Corp. and its two Indianapolis branches? Because the acquisition of Landmark provides First Internet an opportunity to finally broach the mortgage market. Landmark, which traces its roots back to 1925, is best known as a new-construction underwriter in the local home and commercial builder market. Its…

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Auto-job slide accelerating

Indiana’s automotive manufacturing employment for the last decade peaked at 142,000 in 1999. Since then, the sector has shed
20,300 jobs-a staggering one-seventh of its total. Another 5,220 are slated to be cut soon. And there’s no end in sight.

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Oxford BioSignals poised to add up to 120 jobs: Indiana’s life sciences market, $2.7 million in incentives attract medical startup

How does aviation technology conceived at Oxford University and developed with the help of Rolls-Royce end up being tested at Methodist Hospital and commercialized in Carmel? Oxford BioSignals Medical CEO Frank Cheng knows the answer. Even better, he can explain why his startup is poised to add 120 jobs over the next few years. “At this point, I don’t see anything we can’t do right here in Indiana,” he said. Formed in 2000, Oxford BioSignals began its life when research…

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Oxford BioSignals to create up to 120 jobs

How does aviation technology conceived at Oxford University and developed with the help of Rolls-Royce end up being tested at Methodist Hospital and commercialized in Carmel? Oxford BioSignals Medical CEO Frank Cheng knows the answer. Even better, he can explain why his startup is poised to add 120 jobs over the next few years. “At […]

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J.D. Byrider disputes sale of three dealerships: Franchisees may balk at increasing cost of business

Used-car chain J.D. Byrider spent the last year recovering from the tragic death of its founder. It responded by posting its highest sales ever, $690 million. “It’s been tough emotionally,” said Steven E. Wedding, chief financial officer and president of franchising for the Carmel-based company, incorporated as Byrider Franchising Inc. “But from a business standpoint, we were prepared to carry on.” Even so, the late James F. DeVoe is clearly missed. Without him at the helm, Byrider has become embroiled…

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Could big year mean IPO for Aprimo?: Analyst expects software firm to go public in near future, but company execs aren’t ready to discuss possibility

Last year was a good one for fast-growing local marketing software-maker Aprimo Inc. And this year could be even better. “It’s not the beginning of the end; it’s the end of the beginning,” said Aprimo investor Mark Koulogeorge, managing general partner of the Chicago-based venture capital firm MK Capital. “This is the second or third inning of a very long ballgame.” In 2006, Aprimo quietly grew from about 220 to 300 employees and moved into a new headquarters just east…

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Off to slow start, French Lick fears threat from ‘racinos’

French Lick Resorts & Casino is already struggling, less than four months after its launch. And the casino’s owners are downright
terrified legislators soon will allow both of the state’s horse-racing tracks to become “racinos” and add up to 5,000 slot
machines.

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Brightpoint’s buy turns the tables

On Feb. 20, Plainfield-based cell phone distributor Brightpoint Inc. announced a blockbuster deal to buy Dangaard, its largest
European rival, for $308 million, a reversal of fortunes from five years ago between the competitors.

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Car dealers to offer license plates

Hoosiers wanting to avoid the hassle of waiting in line at the BMV will soon have an option, but will have to pay about $20
to use it. The Indiana Bureau of Motor Vehicles is launching a project to allow automobile dealers across the state to provide
title and license-plate registrations.

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Local software maker teams with Microsoft

Autobase Inc. has inked a partnership with tech heavyweight Microsoft Corp. that might fuel growth for the Indianapolis-based
marketing-software maker. The deal will allow Autobase to piggyback its software on Microsoft’s as the Seattle company launches
products aimed at auto dealers.

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Technology-friendly legislation quietly advances: Bills could spur patent commercialization and more

A handful of bills pending in the General Assembly could have a major impact on Indiana’s high-tech sector. Legislation under consideration could stimulate increased commercialization of patented Indiana technology, channel more money toward development of alternative fuels, require regular review of Indiana’s certified technology parks, and more. Tech leaders are optimistic about the chances their agenda will be approved. “It’s the reason we married up with CICP,” said Ron Brumbarger, chairman of TechPoint, a trade association for Indiana high-tech companies….

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Forensic engineering firm seeks defense work: New initiative hopes to help other local firms follow in Wolf Technical’s footsteps

After 30 years in the forensic-engineering business, Wolf Technical Services Inc. has analyzed everything from deadly car crashes to patent infringement. Now, Indianapolis-based Wolf is hoping to diversify into a new area: federal defense contracting. It’s a field local corporate leaders hope Indiana will tap much more frequently in the years to come. “We don’t quite know at the moment where this could lead,” said Wolf Director of Client Relations Joseph Ward. “And that’s the fun part.” The 30-employee Wolf’s…

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City Securities aims to earn mega-deal: If approved, $450 million bond plan would pay off pre-1977 police, fire pensions

If Mayor Bart Peterson gets his wish, a $450 million bond issue finally will settle Indianapolis’ long-standing dilemma over underfunded police and firefighter pensions once and for all. It will also generate up to $9 million in professional fees. And locally based City Securities Corp. is laying the groundwork to earn a lion’s share-even though investment banking is dominated by giant companies in Manhattan. “I would assume that most of Wall Street has made a call,” said City Securities Vice…

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Tech firm Powerway seeking rebound

Powerway Inc., the Indianapolis-based maker of manufacturing quality-control software that grew like gangbusters in the 1990s
and aimed for an initial public offering, has endured a dog of a half-decade. But that soon could change. Powerway just hired
an IT industry turnaround expert as CEO.

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Buyout boom isn’t all bad for Hoosiers

Announcements that major Indiana companies have been acquired are traditionally met with trepidation. But a rash of recent
buyouts of Indiana companies shows they’re not always bad news.

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National Guard proposing new monument

The Indiana National Guard wants to build a downtown monument to commemorate its centuries of history. But concerns over design
threaten to derail the $2.5 million proposal before it gets off the drawing board.

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Successful software veteran forms investment firm: Mark Hill’s $5 million underwrites startup BlueLock

When local IT entrepreneur Mark Hill sold his banking software company in August 2005, he emphasized the potential upside for the area entrepreneurial community. Now he’s making good on his word. Not content to bask on a beach somewhere, Hill has organized an Indianapolisbased private investment company called Collina Ventures. With $10 million under management-all provided by Hill-Collina already has made its first investment. This month, it risked $5 million in startup cash to organize Indianapolis-based Blue-Lock LLC, a computer-hosting…

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Neighbors examine the BioCrossroads’ approach: Collaboration, not competition, now key for Midwestern life science industry

Five years ago, when the BioCrossroads initiative debuted, pundits compared its challenge to a foot race on a track crowded with competitors. And they noted a handful of traditional biotech hub cities like San Diego or Boston enjoyed a huge head start. Today, a better analogy might be a rising tide that lifts all boats. “The pie is getting bigger. It’s not a zero-sum game,” said Walt Plosila, vice president and leader of the technology partnership practice for Columbus, Ohio-based…

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