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Utility customers to receive millions of dollars in credits: Tentative agreement with PSI would settle disputes, compensate ratepayers for risks related to merger

PSI Energy Inc. has reached a preliminary settlement with the state’s utility consumer counselor on how its 750,000 Indiana ratepayers will fare under the merger of parent Cinergy Corp. with Duke Energy. Details of the agreement aren’t ready to be released, said Angeline Protogere, spokeswoman for the Plainfield-based utility. But filings both sides made last month with the Indiana Utility Regulatory Commission suggest that ratepayers could receive credits on their bills 21 percent greater than previously estimated by PSI. The…

Women inventors pursue their creative dreams: From doggie car seats to valve-less hydraulic systems, these visionaries keep creating practical products

Windshield wipers, disposable cell phones, Scotchgardâ„¢, the first automatic dishwasher, disposable diapers, Barbie dolls, nonreflective glass, brassieres, CPR mannequins and “whiteout.” These items have one key feature in common-they were all invented by women. Since the U.S. Patent and Trademark Office does not keep gender statistics, it is impossible to know exactly how many patents women hold. One thing is certain: since 1809 when Mary Dixon Kies became the first woman to receive a patent from the government, many other…

Star’s weekly battles Nuvo for young readers: As Intake turns 2, independent tabloid fights on

Tracking the readership of a free newspaper is like trying to bottle a vapor. What’s not difficult to determine is advertisers’ desire to target young consumers. “Advertisers increasingly want that young, upwardly mobile audience,” said newspaper analyst John Morton. “And they’ll pay to be a part of a product that can deliver it.” Central Indiana’s two biggest newspapers aimed at readers with a strong interest in the city’s night life and only a fleeting concern about long-term savings plans have…

SPORTS: The season that should have silenced BCS bashers

On a recent Sunday morning, the talking head on ESPN introduced NCAA Division I-AA football playoff highlights by saying, “And now let’s go to the action from where they actually decide the championship on the field.” Ah, how tiresome. How unfresh. How unoriginal. Just another shot taken at the Bowl Championship Series, another regurgitation of the media mantra aimed at the decision-makers in Division I who refuse to enact a championship playoff. So, this year, we must settle for the…

There’s more than one way to remove tattoos:

It’s not known when the practice of tattooing began, but Egyptian mummies dating back to 1300 B.C. have shown evidence of blue tattoo marks. Today, for many reasons, people are having tattoos removed. Here’s how: Dermabrasion: A small portion of the tattoo is sprayed with a solution that freezes the area. The tattoo is then sanded with a rotary abrasive instrument, removing the surface and middle layers of skin. Excision: An injection of a local anesthetic is applied to numb…

CHRIS KATTERJOHN Commentary: Guidant scenario recalls ’80s-almost

Last week, I was itching for a fight. When Boston Scientific surprised all but the deepest of insiders with its bid for Guidant, I was suddenly transported back to the 1980s, an era of hostile takeovers so intense it spawned books and movies. Some called it “The Decade of Greed.” Every day there was news of a new hostile takeover or a bidding war or a leveraged buyout of epic proportions. And there were names and personalities to match. Remember…

INVESTING: It’s a tricky market, but opportunities to profit remain

A lot of people were hoping for, and found, a year-end rally. I said in late October that the S&P 500 might hit a new rally high, but after that selling would come. Now that we are at that point, I see more upside potential. I am not changing my view that, in the big picture, stocks will be in for a rough ride next year. But the market could go higher than I expected before major selling takes over….

NOTIONS: Lamenting the uncivil right to push me and mine

Several weeks ago, the Carmel City Council voted 4-3 to ban workplace smoking. Before casting their ayes and nays, some councilors explained why they would vote a particular way. One councilor said he had smoked for years and finally quit. He said it was a wise decision. He urged other smokers to quit, too. Then he issued another plea to smokers: He said that even if they wouldn’t quit, they should voluntarily stop smoking in places where their secondhand smoke…

BEHIND THE NEWS: Another mark against Marsh: It has big pension shortfall

As if Marsh Supermarkets Inc. didn’t have enough problems, here’s another whopper: The company has a drastically underfunded employee pension plan-to the tune of $44 million. That figure is disclosed deep within a Securities and Exchange Commission filing the company submitted in June. It shows the pension plan had assets of $39 million, less than half its $83 million in projected obligations. It’s a big shortfall, and one analysts say is sure to draw the attention of potential suitors. An…

Game not over for J&J: Johnson & Johnson may still beat rival in fight for Guidant

Boston Scientific Corp. earned instant front-runner status in the bidding war for Guidant Corp. when it unveiled a $25 billion offer on Dec. 5 that trumped a Johnson & Johnson proposal by more than $3 billion. However, market watchers say, J&J can regain the lead simply by counterpunching with a comparable offer. They say the immense New Jersey-based conglomerate offers more stability and is the better long-term option for Guidant shareholders who want to hold onto the buyer’s stock after…

NOTIONS Bruce Hetrick: Here’s how to avoid a difficult taxing situation

Bruce Hetrick is on vacation this week. In his absence, this column, which appeared on Dec. 10, 2001, is being reprinted. If I were a betting man (and what entrepreneur isn’t?), I’d bet that you bought something from an out-of-state firm for yourself or your company this year. I’d bet that you logged onto the Internet and purchased new books, computers or pantyhose. I’d bet that you shopped via catalog for your niece or nephew, and shipped that tutu or…

Clarian nabs UAC building: Hospital network wins bid for former corporate headquarters

Clarian Health Partners is polishing a deal to buy the former Union Acceptance Corp. headquarters on North Shadeland Avenue, a move that plants a large footprint for the burgeoning hospital network squarely in a competitor’s east-side back yard. Clarian made the winning bid for the 126,000-square-foot building at a Nov. 15 auction, but the sale had not closed as of Nov. 30, said Bob Getts of Colliers Turley Martin Tucker, which ran the auction. He referred all questions to Clarian….

Legislators face election-year gamble: Legalized Cherry Masters could generate $300M annually

The lure of easy gambling money is always an enormous temptation for cash-strapped legislators. But in 2006, the stakes will be higher than ever. Bars and restaurants are organizing an attempt to legalize electronic poker machines, commonly known as Cherry Masters. By one count, as many as 40,000 operate illegally around the state. Under government administration, Cherry Masters could generate $300 million in annual tax revenue for state and local governments, advocates of legalization say. That would fill a lot…

TOM HARTON Commentary: Key Cinema steps aside for Godzilla

Ron Keedy is more philosophical than bitter as he watches his business model-if not his livelihood-slip away. Keedy, the owner of Key Cinemas, is converting his 6-year-old artfilm house on South Keystone Avenue into an outlet for secondrun, family-friendly movies. Art films are his passion, but Keedy, 60, is being squeezed out of the business by Landmark Theatres, a national chain of art film cinemas opening Dec. 9 at the Fashion Mall at Keystone at the Crossing. No one would…

BEHIND THE NEWS: ATA’s new flight plan: Rely on military for bulk of revenue

ATA Holdings Corp. has been so busy in recent months slashing scheduled service and reducing costs in other ways that its comparatively problem-free militarycharter business has received almost no public attention. But new filings in bankruptcy court show that business is expected to generate nearly 52 percent of ATA’s revenue in 2006, providing stability and a steady profit as the airline tries to regain its footing in scheduled service. The company, which sought Chapter 11 protection in October 2004, hopes…

Water treaty on tap: Mediated agreement calls for Carmel to pay Indy $36.2M

Carmel and its big-city neighbor to the south have a truce in hand to end a 3-1/2-year war over what Carmel will pay to buy Indianapolis-owned water distribution lines serving 6,000 customers in the Hamilton County community. The proposed purchase price: $36.2 million, according to documents recently filed with state regulators. Carmel officials say the deal eventually should improve water pressure and lower fire insurance rates, and make it easier to plan for growth. It also would give affected residents…

Landlords may face big holes: If groceries close, centers would suffer

Marsh Supermarkets Inc. serves as an anchor tenant for dozens of central Indiana shopping centers. So if the company or a buyer ends up closing stores, centers across the region could be left with gaping holes. Not only can large vacant spaces in shopping centers make them look blighted. They also reduce customer counts at smaller retailers that feed off grocery store traffic, retail experts say. “People go to the grocery store once or twice or three times in a…

ISO program gets high marks:

An Indianapolis Symphony Orchestra program that incorporates art and music into elementary schools benefits students and teachers, according to an independent study released this month. ISO’s School Partnership Program is in its sixth year. In the program, ISO and the schools collaborate to create lesson plans and curricula incorporating the arts into classrooms and core subject areas. The study, performed by Robert Horowitz, associate director of the Center for Arts Education Research at Teachers College, Columbia University, evaluated progress at…

BULLS & BEARS: Buffett colleague Munger is also a man of wisdom

I am reading the book “Poor Charlie’s Almanack,” edited by Peter Kaufman. It’s mostly a compilation of advice from Charlie Munger, vice chairman of Berkshire Hathaway and chairman of Wesco Financial, which is 80-percent owned by Berkshire. Munger, 81, owns Berkshire Hathaway stock worth $1.6 billion. Like Berkshire Chairman Warren Buffett, Munger hails from Omaha and as a youngster worked at the Buffett and Son grocery owned by Warren’s grandfather. The two were reacquainted in the early 1960s and became…