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BEHIND THE NEWS: Tumult, ouster cast uncertainty over premier employer

Why did Sallie Mae cast off June McCormack last month, sending one of Indiana’s highest-profile female executives packing? After all, she’s just the sort of seasoned manager the student loan company seems to need as it grapples with some of the biggest challenges in its 25-year history as a public company. The company isn’t commenting, and McCormack said a nondisclosure agreement she signed on her way out the door limits what she can say. Yet what she does say is…

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Schools bring business into the classroom: Students learn from CEOs, race-car drivers, others

When Marian College asked racecar driver Michael Crawford to help launch the school’s entrepreneur-in-residence program and mentor students about realworld business, he wasn’t sure if it was such a great idea. “My hesitation was I didn’t want to pursue it right away,” Crawford said. “What happens if I go out of business? That would be embarrassing.” But he decided to do it because he believes his experience as an entrepreneur is more realistic than anything the students will read about…

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EYE ON THE PIE: Tying up the loose ends of 2007

I prevailed on Evelyn Elkhorn to meet at the new Dunkin’ Donuts. “Doughnuts are both fattening and addictive,” she protested. “Doughnuts are delightful, and life should not be conducted as if its extension is its objective,” I insisted. She yielded, ordering a coffee and two over-sized doughnuts. As we found a convenient table, she asked, “What subject haven’t you covered this year that you wish you had?” That was a tough one. I am free to write what I wish….

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Of battles won and trouble ahead: Peterson says state action key to city’s future

Democrat Bart Peterson leaves office in early January after two terms as mayor of Indianapolis. Succeeding him will be Republican Greg Ballard, a former lieutenant colonel in the U.S. Marine Corps who parlayed property-tax outrage into a surprise win. As Peterson, 49, prepared to leave office, he sat down with IBJ. The following is an edited version of the interview. IBJ: You didn’t expect to be stepping down this year. What was the most significant priority you had planned for…

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SMALL BUSINESS PROFILE: RIPPLE BAGEL & DELI LLC: Now for something completely different Retirees sell medical-supply firm, try deli business

SMALL BUSINESS PROFILE RIPPLE BAGEL & DELI LLC Now for something completely different Retirees sell medical-supply firm, try deli business Often, when retirees aren’t ready to really retire, they line up consulting gigs or take a part-time job in their industry. When Ken and Susan Richman sold their locally based medical-supply distribution business, Fulfillment Plus, to employees in 2002, they decided to start a business in an entirely new industry-one known for a high failure rate. The Richmans had no…

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ECONOMIC ANALYSIS: Why state’s job growth is better than neighbors’

For the past week or so, I have been flooded by phone calls from colleagues in Illinois and Michigan, chortling over a new marketing campaign launched by Hoosiers. The privately financed billboards and radio spots ask businesses and residents whether they are tired of high taxes and unresponsive government. If so, they are invited to “Come on IN” to Indiana. It’s high-order fun this holiday season. Indiana sits as a small island of growth in the Midwest, and it is…

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Local chocolate firm leads organic pack: Endangered Species enjoys soaring sales, employment

While Hershey, Pa., may be considered the chocolate capital of the United States, Indianapolis is home to one of the fastest – growing and most fascinating makers of the sweet treat. Though it was founded in Oregon in 1993, Endangered Species Chocolate Co. has achieved most of its growth since being acquired and transplanted to Hoosier soil in 2005 by Wayne Zink and Randy Deer. Curt VanderMeer joined the company shortly after it came to Indianapolis; he became the third…

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Malls are ‘soft targets’ for terrorism, experts say: Risks aren’t scaring away holiday shoppers

The deadly shooting spree at a Nebraska mall this month highlighted a challenge confronting Simon Property Group Inc. and other shopping center operators: how to protect their properties from violent acts, or even terrorism, while also leaving them welcoming to shoppers. Most retail real estate owners have ramped up security since the 9/11 terrorist attacks, though experts say shopping centers, like schools, remain “soft targets” for terrorism. “Shopping center owners have been very concerned about security for their patrons for…

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Biz issues move to back seat: Property-tax reform leaves little time for other work

Reforming the state’s property tax system will consume so much of the legislative session that the Indiana General Assembly isn’t expected to give much attention to other issues pertinent to the business community. Compounding matters is the fact that the session, which runs from mid-January to mid-March, is of the short variety, meaning legislators have less time to debate issues than they would during the long, odd-year meetings. “I think [property tax reform] is the most intense and voluminous issue…

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Commentary: A foreign investment that is sure to pay off

As the year draws to a close, the business community remains focused on taxes and the health of the economy. The governor’s privatization of the Indiana Toll Road generated a windfall of $3 billion. If managed properly, that money should fund Indiana’s road and bridge repair work. However, perhaps we should consider investing some of the interest to radically change our stature in the global economy. Canada possesses coastlines along the Atlantic, Pacific and Arctic oceans; has abundant natural resources,…

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Commentary: New library ready for Digital Age

Dec. 9 was slated to be the Big Day for Indianapolis’ new Central Library. After five years and more than $150 million, the project-which seemed preposterous from the start-has finally come to fruition and sits ready for a grand opening. From the beginning, I wondered how you even move an entire library. What’s more, how do you set it up in a new location, then tear it down and move it back? Imagine moving hundreds of thousands of books, magazines…

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ECONOMIC ANALYSIS: Why eliminating property taxes is a bad idea

Judging from the many yard signs I’ve seen, a repeal of property taxes is a popular sentiment in the state. Too bad, because that would be an uncommon departure from Hoosier practicality and wisdom. Like most states, Indiana taxes income, consumption and wealth. We use these taxes to fund different levels of government. Critics of Indiana’s property taxes are right to be flummoxed. I’ve even argued that many of the consequences of Indiana’s property taxes are worse than most critics…

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BEHIND THE NEWS: Steak n Shake troubles may cut chance of sale

Here’s a silver lining to The Steak n Shake Co.’s deepening woes: They might scare off potential buyers, keeping the locally based diner chain independent for the foreseeable future. “While Steak n Shake continues to look at alternatives to increase shareholder value, we believe the business will need to be stabilized to attract any meaningful interest,” CL King & Associates analyst Michael Gallo wrote in a new report. Indeed, getting the 491-restaurant chain back on track could take a long…

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SURF THIS: Custom cards: A gift that has you written all over it

I was in Texas a couple of weeks ago addressing a marketing conference organized by Strategic Fulfillment Group. The room was full of smart, progressive marketing minds, all sharing ideas about how to best address their respective customers. The focus of my presentation was building better online shopping environments, so we were all pretty well entrenched in the concepts, methods, and trends of selling online. Yet even this esteemed company didn’t come up with the innovative idea that Starbucks would…

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NOTIONS: Surefire CPR for the high cost of government

Last Saturday, my wife Cherí and awoke to a beautiful fall day. Having no o b l i g a t i o n s , w decided to take spontaneous trip to Orange County, to see the restored West Baden Springs Hotel Despite the rash of stoplights on State Road 37 and a flurry of pre-game traffic for the Old Oaken Bucket clash, the drive was a breeze. Cherí had never been to West Baden Springs. So the beautifully…

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INVESTING: Signs point to strong rally in agricultural commodities

The biggest stories of 2007 have been oil’s relentless rise and China’s growing presence on the world stage. These two are obviously related, as energy needs in China help push oil prices higher. But things move in cycles, and as the world economies slow down and U.S. stocks move into a bear market, there is another way to play these two stories that should continue to dominate our lives the next five years. The next several years could be characterized…

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SPORTS: The Irish fired-and hired-themselves into a stew

If you are among those who believe-and I am among them-that the University of Notre Dame treated Tyrone Willingham unjustly three years ago when it fired him as its football coach just three seasons into his tenure, then you probably share my sense that what goes around has come around in South Bend. If you also are among those who believe-and, again, I am among them-that one of the reasons Charlie Weis is a chunky fellow is because he’s so…

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VIEWPOINT: The high cost of traffic Band-Aids

According to the article titled “Traffic Transformation?” in the Oct. 15 IBJ, the Indiana Department of Transportation is working on a roughly $600 million plan to relieve traffic congestion in the area of interstates 465 and 69. Hold on a second! What is really broken here? I contend little to nothing. Yes, roadways need maintenance and upkeep, but these roadways operate just fine. Because this area is congested at the morning and evening rush hour, the perception exists that these…

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BEHIND THE NEWS: Founding family tossed from slumping Man Alive

Embattled Finish Line Inc. has quietly sent the family that founded and ran its Man Alive chain packing. The company on Nov. 12 announced the appointment of former Haggar Clothing Co. executive Lou Spagna as president of the struggling 96-store urban apparel chain. Tucked in the press release was a quote from Finish Line President Glenn Lyon expressing “our appreciation to the Bublick family for the service they have provided.” It was a major overhaul. Gone are Jeff Bublick, 47,…

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EDITORIAL: Stunning victory a call to change: But Ballard shouldn’t forget past

Stunning victory a call to change But Ballard shouldn’t forget past The shock has faded and reality is starting to set in. Indianapolis really will have a new mayor in 2008. Republican Greg Ballard’s victory over two-time incumbent Mayor Bart Peterson was more than an election stunner of historic proportions-it was a rare case of voters turning over a city to someone they knew little about. Ballard, under-funded and under-supported by his own party, pulled off his epic upset for…

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