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STATEHOUSE DISPATCH: Kenley’s funding plan has momentum despite critics

Remember when Republican Gov. Mitch Daniels felt “car-bombed” by House Democrats when they refused to provide a quorum for votes on 132 bills? Then Senate Tax and Fiscal Policy Committee Chairman Luke Kenley, RNoblesville, must have felt last week that his plan to help finance a new stadium for the Indianapolis Colts and an expansion for the Indiana Convention Center was hit by rocket-propelled grenades. Kenley proposed to finance the two projects through a combination of private, state and local…

Wood flooring companies put bounce under ball: Hoops tourney signals competitive bidding season

With March Madness, the NBA playoff race and high school state tournaments reaching a feverish pitch, many Hoosiers are eyeing bouncing balls and hanging hoops. But Kevin Price and his staff are more focused on the floor below. Price’s company has carved out a profitable niche supplying, painting, polishing and servicing the hardwood that keeps basketballs bouncing. “I’m sure a lot of people just think of it as a floor,” said Price, Indianapolis’ regional sales manager for Cincinnati Floor Co….

Chicago Express is not only asset ATA Holdings to jettison: More than $1.7 million for Boeing 727s won’t land in ATA’s pocket

As ATA Holdings Corp. prepares to ditch its Chicago Express commuter line after a tiresome series of low-ball bids, another batch of its aircraft about to be sold won’t fetch much attention-or even a dime-for the Indianapolis carrier. Up to seven of ATA’s former Boeing 727s and as many as 20 engines for the tri-engine aircraft are to be sold by early April for at least $1.7 million, according to documents filed by ATA earlier this month in U.S. District…

Million dollar baby: Hospital reaps benefits of caring for high-profile boy A public relations jackpot

The Afghan boy may have arrived last month at Riley Hospital for Children with heart trouble and a need for complicated surgery. But behind those soft, brown eyes and that adorable smile lies a 12-cylinder marketing engine. A sample of the 15-month-old’s power: Qudrat’s often-reported story created at least $1 million in free media for Riley, according to hospital officials. That’s 10 times the amount Riley spends on print or broadcast advertising in a year. He could be responsible for…

Rehabs help schoolhouses rock: Threatened properties receive new life as apartments

As several local developers have discovered, some of the functional design aspects of school buildings also make attractive components of a successful apartment building. At least two north-side elementary schools closed by Indianapolis Public Schools in the early 1980s have been transformed into apartment communities, and another developer has found a niche turning old high schools in some of the state’s smaller cities into senior housing. By keeping the historic character of the buildings and serving a lower-income population, these…

VOICES FROM THE INDUSTRY: There are reasons for rising school construction costs More technology More sports

Public school officials around the state have received sharp criticism in recent years for authorizing construction that critics decry as ostentatious and excessively expensive. Chief among the targets, but not exclusively, are athletic facilities that are often perceived as superior to all but the largest of our NCAA Division I colleges and universities. Without taking sides in the fray, I would simply remind everyone that K-12 education is basically a community function driven by local decisions. The bulk of the…

Conseco Insurance Group plans sales rebound: Insurer boosts product line, agent recruitment

Conseco Insurance Group just closed the book on a disappointing 2004 but its leaders already have a jump on several initiatives to prevent a repeat in 2005. The Conseco Inc. subsidiary launched two new life insurance products earlier this year and is aiming for a 25-percent increase in new business in 2005, according to Brad Corbin, the insurance group’s new executive vice president of sales. The insurer also has started burning some phone lines to boost the independent sales force…

VIEWPOINT: Congress and Indiana class actions The class-action problem CAFA’s fix Unintended consequences

Congress recently passed the Class Action Fairness Act of 2005 (CAFA), intending to lower the costs and risks class-action litigation imposes on businesses. CAFA works primarily by moving certain large class actions out of state courts and into federal courts. This seemingly elegant solution assumes that litigating in federal court will be quicker, cheaper and yield a better result than litigating in state court. However CAFA’s complexity, combined with the good job most state courts are already doing, undermines that…

NOTIONS: My son’s latest lesson in censorship

My son, Austin, phoned a few weeks back. He was excited. Well, he was as excited as a 16-yearold can be (read: a little). The cast list had just been posted for the spring musical at his high school. For the second year, Austin had landed a part-not a lead, he said, but for a sophomore, a good part. Rehearsals were to begin immediately. I uttered my fatherly bravos. We said goodbye. And I shared the news with his grandparents,…

INVESTING: Somnambulant stocks a good buy for patient investors

The longer the base, the higher in space. For any technical analysis geeks out there (like me), this phrase brings visions of money raining from the skies. Stocks that have moved sideways for years or have been stuck in trading ranges can, under the right conditions, unlock massive wealth. The trick is to find these gems. Extremely long-term trading ranges exist because investors typically forget about the stock. The owners are frustrated but don’t want to sell, so they figuratively…

Struggling IndyGo pays big for technology expertise: At $94 an hour, IT director raises some eyebrows

Financially struggling IndyGo is paying a handsome sum to its information technology director, hired to help turn around a city bus system that began 2004 with a $4 million budget deficit. Dale Meyers would earn about $188,000 if he worked 40 hours a week, based on a $94-an-hour employment agreement inked last July. Meyers’ pay would dwarf the $120,000 annual salary of Indy-Go CEO Gilbert Holmes. It’s also salty compared to others’ in his field. The median pay for an…

National lobbyist meets with gov: Small-business advocate says health care is still the toughest issue for owners

The National Federation of Independent Business is the nation’s largest small-business advocacy group, representing 600,000 members in all 50 states. Its voice in Washington, D.C., is Dan Danner, an Ohio native and Purdue University graduate, who is the organization’s lead lobbyist. During a recent visit to the NFIB’s Indiana office, Danner sat down with IBJ to address issues critical to the state’s smallbusiness owners. IBJ: As chief lobbyist for the NFIB, how do you get the organization’s message to federal…

The seeds of original thinking grow sales SALES:

OK, true confession time. My first attempt at a sales gig was selling flower seeds. That’s right, seeds. The ones you would order from the back of a comic book. I was 9. The incentive was a “prize.” Of course, you could select your own prize, and the prizes were the kind that would make a 9-year-old do anything because these were “must-have” prizes. My wild-eyed eyes were set on X-ray vision glasses. As I said, “must-have.” I remember Mom’s…

Software-maker expands through public incentives: Exact Target must prepare for market’s consolidation

It made for a great photo-op. With the morning sun shining brilliantly through the windows, Exact Target showed off its brand new headquarters in the Guaranty Building on Monument Circle. It was the second day of spring. Bipartisan smiles were the first item on the agenda. Gov. Mitch Daniels, a Republican, was there to celebrate the fast-growing e-mail software-maker’s $1.14 million package of government incentives. So was Mayor Bart Peterson, a Democrat. Exact Target had earned its tax credits, abatements…

Carmel Central Park project keeping contractors busy: $55M project on Monon won’t open until 2007

There won’t be skyscrapers, horsedrawn carriages or a subway stop, but come 2007, Carmel will have its very own Central Park. Officials broke ground in November on the 161-acre site bordered by College Avenue, 116th Street, Westfield Avenue and 111th Street. When completed, Central Park will be the largest in the Carmel Clay Parks and Recreation 280-acre system. The $55 million project isn’t anywhere near the scope of the New York City original, but construction manager Geupel DeMars Hagerman still…

BULLS & BEARS: Understanding the effect of increasing interest rates

Interest rates are a major variable in the evaluation of any investment, whether it’s stocks, bonds, real estate … you name it. As interest rates change, they alter the value of all financial assets. Simple mathematics shows that, as interest rates rise, the present value of a dollar to be received tomorrow is worth less to an investor today. Thus, when interest rates rise, the prices of all investments move down in value. And conversely, when interest rates fall, investment…

VOICES FROM THE INDUSTRY: New tax law provides significant deductions for industry Contractors, architects, engineers stand to benefit For example Replacement legislation Another example

A new tax break known as the “Production Deduction” was signed into law by President Bush late last year and is effective for years beginning after Dec. 31, 2004. Construction contractors and engineers and architects involved in construction projects can benefit from this important new tax deduction. Upon announcement, the legislation raised many issues, and the IRS recently issued guidance to clarify them. For 2005 and 2006, the deduction is equal to the lesser of 3 percent of the taxpayer’s…

Purdue ousts biz guru: Director fired amid shakeup of high-profile tech incubator

The billboards read “Go Businessmakers,” but the yellow flag is up. Purdue University is reorganizing its primary program to assist high-tech startups and has fired the director. Part of Purdue’s nationally recognized effort to transform raw university research into viable businesses, the Gateways Program had been managed since October 1998 by Sam Florance, a former investment banker and management consultant. Purdue closed Gateways and eliminated Florance’s position on March 14, IBJ has learned. On March 18, Joseph B. Hornett, senior…

TAWN PARENT Commentary: The importance of being different

Well, there’s a conversation-starter you don’t hear every day, I thought. It was inane even for the preschool crowd, which is known for the inanity of their questions. “Um, I think it’s a Kenmore,” I replied. “Oh,” he said. “Ours is an Oreck XL Classic commercial-grade vacuum with a bristled-edge cleaning system, long-lasting drive belts, an easy-load bag dock, metaxalloy motor fan, pile-lifting roller brush and non-marring bumper,” or something to that effect. That’s when I realized Henry was no…

BEHIND THE NEWS: In scandals’ wake, firms endure financial wringer Process mapping Too high a cost

Last year was excruciating for executives at many of Indiana’s public companies, but not for the usual reasons, like a slumping economy or sliding stock market. Instead, it was because they had to devote thousands of employee hours and millions of dollars to comply with a controversial new rule, Section 404 of the 2002 Sarbanes-Oxley corporate-accountability law. The rule requires companies to assess the internal accounting controls they have in place to ensure their financial reporting is accurate and reliable-and…