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Legislature revisits multistate insurance compact: Proposed bill awaiting House consideration could cut red tape and improve speed of products to market

The Indiana General Assembly is taking another stab at a bill that could make life easier for some insurance sectors by pushing products to market at a faster clip. A proposal that would allow Indiana to join a multistate compact for life insurance, disability, annuity and long-termcare products passed the Senate earlier this legislative session and awaits consideration in the House of Representatives. The bill died there last year. However, new state Insurance Commissioner Jim Atterholt thinks it has a…

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BULLS & BEARS: Making sense of market’s oil turmoil will take time

The price of crude oil hit $55 a barrel last week. The oil “experts” are all over the news predicting doomsday scenarios of economic ruin. Their concerns are that no new oil fields are being discovered, many of the oil-producing countries are run by kooks, fat Americans are buying bigger and bigger SUVs, and China’s thirst for oil is just getting whetted. All of these are valid and logical concerns. And Lord help us all if the Chinese take a…

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RETURN ON TECHNOLOGY: How to enjoy wi-fi ‘hot spots’ on the road

I recently stayed at a charming hotel in California that dates back more than a century. At least, it was charming to me. It’s been retrofitted many times over the years as it’s struggled to stay no more than 30 years behind the times. It has two elevators, only one of which is completely automatic. The other still has its manual operations lever, and is apparently used only for freight. Most of the room doors still have the old key…

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FAMILY BUSINESS: Consider having lawyer audit your business Small doses of advice from all of the professionals you consult with can prevent serious problems in the future

Many family business owners view their lawyer as a necessary evil. It’s almost as though we carry some deadly disease; call your lawyer only when the life of your business depends on it! But just as physicians have learned to control smallpox with small doses of vac cine, administered over time, the owners of a family business can also use regular doses of lawyers and other advisers to minimize the risks of the many problems that can put your business…

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Radio Slayer?: The 3.6-ounce iPod could become a 500-pound gorilla

The 3.6-ounce iPod could become a 500-pound gorilla Radio’s death knell has tolled before. In the 1950s, television was supposed to kill radio. And in the last 30 years, there have been a cavalcade of challengers from cassette tapes and Walkmans to compact discs and portable disc players. Even though a record $20 billion was spent nationally in radio advertising in 2004, a new predator on the landscape has the potential to take a serious bite out of the industry’s lifeblood….

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Banks find niche with small loans: Three new arrivals affecting local lending community

The city’s small-business lending market is a bit more crowded now that three out-ofstate competitors have entered the fray. McLean, Va.-based Capital One Federal Savings Bank, Oakland, Calif.-based Innovative Bank and Providence, R.I.-based Charter One Bank are wasting no time letting fellow lenders know they’re serious about serving the small-business community. Capital One, Innovative and Charter One ranked second, third and fourth, respectively, in the number of U.S. Small Business Administration 7(a) loans they dispensed during December. The leader for…

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Banking turnaround specialist returns home: First National names former People’s exec as CEO

One of the nation’s most successful bankers has returned to Indiana. After four years spent spearheading the turnaround of deeply troubled City National Bank in Charleston, W.Va., Jerry Francis took the helm at Kokomobased First National Bank & Trust Feb. 9. Francis is best known locally from his days as president of People’s Bank Corp. He left Indianapolis in 2001 after Fifth Third Bancorp bought People’s for $228 million. But his name is recognized across the nation thanks to the…

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WellPoint gets warm welcome on market: Analysts see many reasons for stock’s attractiveness

The new year dawned bright for WellPoint Inc., with the freshly formed company’s stock price in the middle of what one analyst called “somewhat extraordinary” growth. Shares for the insurer jumped nearly $8 apiece on Dec. 1 to close at $109.10 the first day they traded under the WellPoint Inc. name. Before that date, the shares traded under Anthem Inc. Steady growth continued from there. The price hit a 52-week high Jan. 19 when it closed at $123.60, according to…

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Area deals reach new pinnacle: Anthem’s $22.7 billion purchase of Wellpoint heads busy year for acquisitions

In 2004, Indianapolis had plenty of both, crushing all previous local merger-andacquisition records. IBJ tracks business deals larger than $5 million involving area companies in which financial terms are available. Last year, there were 56 of them, worth a grand total of $31 billion. Anthem Inc.’s massive $22.7 billion acquisition of Wellpoint Health Networks Inc. led the pack. Before 2004, $17 billion was the most M&A activity Indianapolis had ever seen in a single year. All by itself, Anthem’s deal…

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Partners bet on Capitol block: Shiel Sexton teams up with Gregory & Appel to redevelop old factory

An Indianapolis contracting company is deepening its near-north-side roots-and exploring another avenue of the real estate business-with a multimillion-dollar plan to renovate and rent out an 85-year-old building just blocks from its Capitol Avenue headquarters. Shiel Sexton Co. Inc. has agreed to spend more than $5 million on the 60,000-square-foot brick building at 1402 N. Capitol Ave., restoring the property to its former glory and transforming it from industrial to office use. The company also is seeking tenants for a…

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A family cashes in on the nursing shortage: Noblesville company grows rapidly by filling void

A Noblesville family took on the U.S. nursing shortage in 1999 armed with only $30,000 and a home computer and wound up creating a multimillion-dollar business. The nursing shortage still lingers, but the family’s company, Innovative Placements Inc., takes in more than $8 million in annual revenue by filling employment gaps with traveling nurses. Twin sisters Retha Clark and Letha Engelman, and Letha’s husband, John, place more than 100 nurses in 39 states. They want to add 50 more nurses…

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Regulators probe Galyan’s trades: Investigation reason for leave of absence for McDonald stockbroker Dave Knall

Securities regulators are investigating allegations of insider trading in Galyan’s Trading Co. stock before the company’s sale to Dick’s Sporting Goods Inc. last summer, IBJ has learned. Sources said those under scrutiny include star Indianapolis stockbroker Dave Knall and his son James, who worked with his father at a McDonald Investments office on 96th Street in Indianapolis. Dave Knall, 60, one of the nation’s top-producing stockbrokers, has been on a voluntarily leave of absence from McDonald since Dec. 3. The…

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