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Young entrepreneurs cash in on ring tones: West Coast VCs have big plans for local Web startup

As students at Warren Central High School just a few years ago, Michael Slate and David Hosei used to dream about becoming entrepreneurs. They started like many of them: cutting grass and selling candy door-to-door. Today, they rub elbows with West Coast venture capitalists. In April, the pair announced that Silicon Valley-based VantagePoint Venture Partners had invested in their Internet startup 3GUpload, a Web portal for the exchange of cell phone ring tones. Founded in a Purdue University dorm room…

Animated startup foresees big growth in life sciences: Company produces 3-D graphics with young talent

Harlon Wilson and Kurtis Rush originally intended their Indianapolis-based upstart business to provide 3-D animation for use in court cases. But if they had stuck to that business plan, Medical Animatics Inc. could not have produced the video to the hilarious “Urine Stream,” a song parody of Abba’s “Dancing Queen.” Here’s a sample of the chorus: So when you get the chance, undo your pants … And make a urine stream, gold and clean, oh it’s such a dream. Urine…

RETURN ON TECHNOLOGY: We need more Googles to take on government

As I write this, two of the biggest titans on the planet have just fought each other to a standstill. In one corner is the U.S. Department of Justice (DOJ). In the other corner, the search engine company Google. In 2005, the DOJ wanted to revive the Child Online Protection Act (COPA), which had already been swatted down by the Supreme Court as unconstitutional. The law didn’t address child pornography, as has often been assumed in the case, but only…

Concierge helps famous, fashionable: Conrad job gets exciting during big events

It looked like a photo shoot for GQ or Elle. Guests wore denim that probably won’t show up in American stores until next year, if even then. Other guests checking into the Conrad Indianapolis for the July 2 U.S. Grand Prix wore sparkling diamonds and designer apparel. They carried Coach handbags of all shapes and sizes, setting them on the concierge desk as they awaited delivery of their luggage. Without fail, Lynna Mills would peek around the bags and cordially…

NOTIONS: Hailing the hare in the land of the tepid tortoise

I was going to play smart aleck this week. I was going to write in hick dialect. I was going to lambaste us Hoosiers over our stubborn adherence to the status quo, our penchant to take things slow, our preference for partisanship, our pooh-poohing of progress and our bull-headed gumption to go it alone in a global economy. Then news broke that Indiana has the highest high school dropout rate in America. So I figured that for two reasons, I’d…

Westview soldiers on amid health care explosion: Hospital fares well against larger, newer competition

A touch-screen directory, a grove of potted trees and a muffin-bearing kiosk greet visitors entering the six-story atrium at the new Clarian North Medical Center in Carmel. A much milder scene awaits people walking into Westview Hospital a few miles away, on the west side of Indianapolis. There, a lonely player piano spills soft tunes into a one-story lobby filled with clusters of chairs and pamphlets on volunteering. “Quiet! Healing in Progress” reads a nearby sign. Indiana’s lone osteopathic hospital…

BULLS & BEARS: History suggests market ready to make large run

Two weeks ago in this space, I pointed out that investors are close to joining an exclusive club-there are only three previous seven-year periods where an investor lost money in the U.S. stock market. The last seven-year dry spell was from the start of 1968 through the end of 1974. In that span, $100,000 an investor put to work withered to $90,000. By the end of 1974, inflation, oil-price spikes, an unpopular war and an unpopular president had left investors…

Knowledge is Power: Women need to be active participants in planning for a secure financial future

Women need to be active participants in planning for a secure financial future When Elaine E. Bedel started her practice as a certified financial planner nearly 30 years ago, she and her colleagues spent most of their time educating clients on the basics of developing an overall strategy for their financial future. Up until then, the typical retirement revolved around employer pensions and maybe a few outside investments. And most clients were men. It was typical for the husband to handle…

BRIAN WILLIAMS Commentary:

On June 1, Gov. Mitch Daniels and officials from the Indiana Public Employees Retirement Fund announced the Indiana Investment Fund, a $100 million investment vehicle. The fund will invest in early-stage startups and loans to mature firms. It will invest in Indiana-What’s wrong with local investment pros? based agriculture, manufacturing, information technology, transportation and life sciences companies. Credit Suisse was selected to manage this new fund. As a global investment bank, Credit Suisse certainly has skilled bankers who can evaluate…

Charter school group to buy Greek Church: Purchaser wants to talk to neighborhood about needs

A not-for-profit that runs roughly 60 schools nationwide has agreed to purchase the Holy Trinity Greek Orthodox church at 40th and Pennsylvania streets. Imagine Schools Nonprofit Inc. hopes to set up a charter school at the site, but Jason Bryant, the corporation’s vice president in charge of Illinois and Indiana operations, said it first wanted to hold community meetings to get input on what’s needed. “There is flexibility for each individual school to set its own curriculum,” Bryant said. The…

New law provides Realtors an edge

A new state law backed by Realtors that critics say stifles cut-rate competition already has prompted a discount brokerage, California-based HomeYeah!, to shutter its operations here.

Bank boss eyes No. 1: New Fifth Third chief plans expansion, faces tough Chase

The view from John Pelizzari’s 14th-floor office in downtown’s Capital Center is a good one. The recently hired president and CEO of Cincinnati-based Fifth Third Bancorp’s central Indiana operations can see the rooftops of many of downtown’s landmarks. And he likes it that way. He’s used to the view from the top. From 2001 to 2005, Pelizzari, 50, captained the ship for Fifth Third’s northern Michigan affiliate, which enjoyed a whopping 28-percent market share, more than 10 percentage points higher…

ECONOMIC ANALYSIS: State’s ‘circuit breaker’ law worsens flawed tax system

Fifty years ago, economist Charles Tiebout expressed a vision of how freeing local governments to pursue their own unique strategies for setting taxes and providing services could produce an efficient outcome much like the private marketplace. He called it “voting with your feet.” The idea was simple-by moving, people could sort themselves out and live in communities that came closest to providing the tax and expenditure combinations they valued most. Reality is quite a bit more complicated. When people move…

New technology could put chill on hotspots: Emerging wireless access cards let users tap into the Internet anywhere they can receive cellular signals

The “hot spots” that drive wirelessfidelity access-better known as WiFi-might be in for a cool-down. WiFi enables Internet users to log on without a wire connection, as long as they are in a hot-spot area. The sites have become so common that the number worldwide surpassed the 100,000 mark earlier this year, according to JiWire, a Web-based hotspot information provider. Thousands of businesses, universities and municipalities have invested in the technology. But wireless phone companies are challenging the technology with…

Indiana Rail Road on track for customer growth: Acquisition of Canadian Pacific line brings more jobs

What little some people see of active railroads these days is when they catch a glimpse of Indiana Rail Road Co.’s Ferrari-red engines pulling hopper cars from downstate coal mines up to Indianapolis Power & Light’s Harding Street generating station, south of town. “People feel like railroads are a dying industry,” said Thomas Hoback, founder and CEO of Indiana Rail Road, the 20-yearold freight concern based in Indianapolis. Looks can be as deceiving as the speed of a locomotive approaching…

CHRIS KATTERJOHN Commentary: A midsummer reflection on fireworks

What a great Independence Day weekend. Like many businesses, IBJ Corp. took both Monday and Tuesday off for a midsummer break. The four-day weekend squeezed our deadlines a bit, but we happily paid the price. After a strong first half of the year, we deserved the break, and I don’t think we missed much by not being here. On Wednesday morning, it was as if all the July 4 fireworks blew the humidity out of the atmosphere. We woke up…

Developer goes west with retail: Lauth’s Brownsburg Station to cover nearly 70 acres

Lauth Property Group soon will break ground on Brownsburg Station, a massive retail complex that will be one of the largest in the Indianapolis area. The Brownsburg property, which will be roughly 500,000 square feet and sit on almost 70 acres, will take advantage of the west side’s rapidly growing suburbs. The project received preliminary approval from the town of Brownsburg in late June and needs only to clear a few minor hurdles before building can begin. Tenants could move…

ABDUL-HAKIM SHABAZZ Commentary: Sex-offender laws often miss the mark

Although I consider myself a reasonably intelligent individual, there are some things I don’t understand, like why there’s Braille at drive-through ATMs, why some bookmarks cost $1 (it would be easier to use the dollar), and why we have most sex-offender laws. There are numerous sex-offender laws going into effect July 1 in Indiana. Some make sense, like lifetime probation for sexually violent persons that can be revoked should an offender commit another offense. There are some, like Marion County’s…

BEHIND THE NEWS: A spicy spat is under wraps: Judge seals auditor lawsuit

National Wine and Spirits Inc., Indianapolis’ eighthlargest private company, in early June sued accounting giant Ernst & Young, charging “fraud and deception.” But don’t expect to peek into the court file to get the juicy details. Marion Superior Court Judge S.K. Reid on June 20 granted National Wine’s motion to seal the complaint. Court filings suggest the liquor distributor filed the motion at the behest of E&Y-which argued that because the dispute arose out of arbitration, and that process is…