Better air access to Western cities key to Indiana’s technology and bioscience industries is high on the wish list for executives
and travel managers who responded to a survey commissioned by Indianapolis International Airport.
Service offers household help for elderly, infirm Julie Sullivan’s “a-ha” moment came when she was trying to coordinate home care for her elderly grandfather in Huntington while she was in Indianapolis. Even though, as a supervisor at Visteon, she had significant control over her schedule, Sullivan said she couldn’t visit as often as she needed. “I thought, ‘My word, what does the rest of the world do?'” she said. So Sullivan set out to help, starting a local franchise of…
Banker Steve Tolen is attempting to resuscitate the electric car. Tolen believes conditions are ripe for an upstart automaker
to launch a safe battery-powered vehicle capable of rapid acceleration, highway speeds and over 100 miles of distance between
charges.
The road Indiana is traveling to help the nation reduce its dependence on foreign oil could be in for a bumpier ride than even the worst Hoosier highways. Indiana is at the epicenter of the renewable fuels movement and has provided economic incentives for the construction of a dozen new ethanol plants, four of which should be operating by the end of the year. Annually, the 380 million bushels of corn that will be used to make more than 1…
Local women forge a path to the top in health care management Health care is the second-fastest-growing sector of the U.S. economy, employing more than 12 million workers, according to the National Institute for Occupational Safety and Health. Women make up nearly 80 percent of the health care work force, and increasingly they’re moving into the executive ranks. Locally, St. Vincent Indianapolis Hospital, Riley Hospital for Children and Noblesville’s Riverview Hospital all have women at the helm. And women hold top…
Hubert Humphrey once noted that “the moral test of government is how it treats those who are in the dawn of life, the children; those who are in the twilight of life, the elderly; and those who are in the shadows of life, the sick, the needy and the handicapped.” Our population continues to age. The number of seniors in Indianapolis is on the threshold of doubling-from 95,500 in 2000 to 187,500 in 2040. Therefore, it is incumbent on us…
I was delighted to receive a new disc from the U.S. Bureau of Economic Analysis containing the latest annual data on economic conditions in every county in the nation. Now I have a more detailed picture of how our state functions and is changing. For example, the daily flows of commuters between counties within and outside Indiana are essential to our economic health. By commuting, Hoosier workers find better jobs and firms get the best workers. Commuting is easier when…
AFTER HOURS LAURA WILSON Being prepared is more than a Scouting slogan Longtime Boy Scouts volunteer Laura Wilson learned firsthand the importance of the scouts’ motto-“Be prepared.” A vice president of com munications at the Indiana Bankers Association, Wilson accompanied her two sons on a camping trip last year to New Salem, Ill., where the scouts went on a nearly 20-mile hike on the Lincoln Pilgrimage trail from New Salem to Springfield. Later that night, she learned the hard way…
It’s been 15 months since Central Indiana Corporate Partnership CEO Mark Miles wrote in these pages that he felt like Rip Van Winkle when he returned to the city after being away for 15 years. Miles has done anything but sleep since he got back. Neither has the CICP board of directors. That group should be congratulated for making an outstanding choice of a new leader and for taking bold steps forward. This seems to have been a perfect match…
A recent article in Strategy+business magazine estimated that “the world’s urban infrastructure needs a $41 trillion makeover” between now and 2030. The article explained that $41 trillion is roughly equivalent to the “2006 market capitalization of all shares held in all stock markets in the world.” Some experts think that “new technology” will be the answer, and it may be when nanotechnology takes over the world. For now, however, the trend usually reinforces the trend, and we do the same…
After a stint in public accounting, Whetzel went to work for Fleming Packaging Co., a firm that duplicated and distributed videotapes. After taking some losses on a couple of projects, the owners of Fleming didn’t see the potential for video duplication and distribution, so Whetzel and business partner Charlie Seldon bought the company in 1991. Doing the deal wasn’t easy. “I borrowed from family, refinanced the house, and took everything out of savings,” he said. “I was dead broke and…
Less than two years after being driven out of Adesa Inc. as unceremoniously as a Buick down its auction lanes, James Hallett
is back behind the wheel of the nation’s No. 2 wholesale vehicle-auction company.
INDIANAPOLIS HAS: Seating for up to 73,000 and a retractable roof at Lucas Oil Stadium, set to open in 2008. The press box seats 200, but event space could be converted for additional media use. PRACTICE FACILITIES NFL WANTS: Comparable practice facilities for both Super Bowl teams, including a covered field with the same turf as the stadium, locker rooms for players and coaches, meeting rooms, and laundry service. INDIANAPOLIS HAS: The Colts’ 56th Street football complex. Bid organizers have…
Many Hoosier stocks are on a tear, posting year-to-date gains rivaling the numbers we saw in the frothy late 1990s, before the Internet bubble burst. But market analysts say the comparison stops there. The companies posting gains are old-line manufacturers like Cummins Inc., not dot-com startups built on hype. And the appreciation is built upon a solid foundation-rapid increases in profit. Indeed, New York-based Citigroup noted that corporate profits are up 115 percent since the last recession ended in the…
International Center pairs local hosts, visiting delegates to promote cultural understanding When a group of Iraqi editors and writers visited Indianapolis last summer as part of the U.S. State Department’s International Visitor Leadership Program, they learned about American journalism and Hoosier hospitality. Florence May, a member of the International Center of Indianapolis’ board and president of Simply Hospitality-an Indianapolis-based special-event planning company-hosted the group for dinner in her home. May grew up in a military family and has lived throughout…
Milwaukee native Trevor Ocock figures his interest in transit dates to age 3. At least that’s what his mother tells him. But the transit bug overtook him at Franklin University in Columbus, Ohio, as he was earning a degree in business administration and human resources management. Soon, he was washing buses for Ohio State University’s transit line. Later, he drove an OSU bus-met lots of ladies that way-and eventually became its operations manager. “I have always liked to be around…
Few Hoosiers had heard of O’Reilly Auto Parts before the Missouri-based company built a massive distribution center in Hendricks County and bought the naming rights to Indianapolis Raceway Park last June. Now, the company, which was founded in 1957 and went public in 1993, figures to become a major retail presence here. Already, 14 stores have cropped up here among 35 that opened statewide. That makes 1,700 stores in 25 states for the company that reported revenue of $2.3 billion…
It’s an age-old strategy: A private equity firm buys a company, bolsters its performance, then pockets a tidy profit by taking it public or selling it outright. Los Angeles-based Freeman Spogli & Co., the majority owner of Hhgregg Inc. the past two years, last month revealed plans for a $170 million initial public offering for the consumer electronics retailer. You can be sure other private equity firms that have scooped up local companies in recent years have the same exit…
The diversification of the state’s two enormous public pension funds into private equity is transforming Indiana’s venture capital sector. And their $155 million Indiana Investment Fund is the largest factor in the equation. If it’s successful, the Indiana Public Employees’ Retirement Fund and the Indiana State Teachers’ Retirement Fund will save Hoosiers untold millions of dollars and help launch a host of new high-tech companies. If it’s not, taxpayers will one day have to foot the bill. Indiana State Budget…
The biggest acquisition in the 34-year history of ATA Airlines will steer it closer to its charter roots and further from a scheduled-service binge that led to bankruptcy three years ago. Analysts say the $315 million deal to buy Atlanta-based World Air Holdings will broaden the revenue base and bring economies of scale for ATA’s newly renamed parent, Global Aero Logistics. It also hands ATA a cargo business worth $100 million in 2005. The deal should give the Manhattan vulture…
