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BEHIND THE NEWS: Tightening credit markets cast shadow over megadeals

Almost overnight, the nation’s lending climate has tightened dramatically, and the timing couldn’t be worse for two Indianapolis companies. A pair of private equity firms are trying to line up billions of dollars in debt financing to complete their $5.6 billion purchase of locally based Allison Transmission from General Motors Corp. Meanwhile, locally based Finish Line Inc. plans to rely on debt to pay nearly the entire cost of its $1.5 billion acquisition of Tennessee-based Genesco Inc. Those deals still…

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SURF THIS: With tech tasks, define success before measuring it

I had a boss once who was infamous for his adages, always having one of these nuggets immediately at the ready. True, he would occasionally misfire, tossing off a “let’s throw it against the wall and see what sticks” when the situation may have clearly called for something more genteel like “run it up the flagpole and see who salutes.” But most of the time, he was right on the money. One of his favorites was the old “How do…

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MICKEY MAURER Commentary: Banker’s exit won’t end good deeds

Indiana, as you know, has not escaped the inevitable crush of consolidation in the banking industry. No one should have been surprised by the announcement that First Indiana Corp. was selling itself to an out-of-state bank, Milwaukee-headquartered Marshall & Isley Corp. In spite of the best efforts of M&I, The National Bank of Indianapolis, of which I am chairman of the board, will add business as a result of this transaction. Some of First Indiana’s customers prefer to deal with…

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Merger has bank near top: Huntington a big player after acquisition of Sky

Huntington Bancshares Inc. entered the Indianapolis market in 1986 and since has led a relatively unassuming existence, barely cracking the top 10 in local deposit amounts and operating just a few dozen branches. So, the Columbus, Ohio-based bank is entering uncharted territory following its $3.6 billion acquisition of fellow Buckeye bank Sky Financial Group Inc. in Bowling Green. Huntington completed its purchase of Sky on July 2, making it the 24th-largest domestic bank in the United States in terms of…

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Dealers say mileage mandates are too much, too soon: But consumer group contends heightened demand for fuel-efficient vehicles should allay industry’s fears

The region’s largest consumer advocacy group is trying to counter efforts by Indiana car dealers who want to water down higher fuel economy standards passed by the U.S. Senate. Citizens Action Coalition has been rallying its base to pressure the Indiana delegation to stand behind aggressive fuel economy targets that would require a carmaker’s fleet to average 35 miles per gallon by 2018. With gas supplies pinched and prices relatively high,”this is a very current and important issue,” said Dave…

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Entrepreneurs getting younger: Corporate downsizing gives rise to ‘e-generation’

From selling shark tooth necklaces to his neighbors during summer vacations in Florida to running an online auction site that benefits charities, he’s no stranger to the hard work that comes with starting a business. “I’m interested in new things and looking into new things,” said Gough, who is among a burgeoning group of young entrepreneurs not content to work for others. They’d rather strike out on their own. In fact, nearly 71 percent of the 1,474 youth who participated…

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ECONOMIC ANALYSIS: The link between taxes and high health care costs

“Things that can’t go on forever don’t.” If those famous words of the otherwise obscure Nixon-era economic adviser Herbert Stein apply to anything, it is health care spending. Most of us recognize that health care is expensive, breaking the budgets of many households, pressuring businesses and even challenging the spending capacity of giant federal programs like Medicare and Medicaid. What is less clear is why this is so, and what can, or should, be done about it. We spent more…

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Strides taken in life sciences, experts say: Industry panel: Thanks to ongoing efforts, Indiana has experienced serious progress as biomedical hotbed during last 5 years

Five leaders of Indiana’s life sciences industry offered their perspectives at the Indiana Convention Center June 26 as part of the Indianapolis Business Journal’s Power Breakfast Series. The panelists: Mike Arpey, managing director of global investment bank Credit Suisse’s Asset Management Division and manager of the $73 million Indiana Future Fund for BioCrossroads, the state’s life sciences economicdevelopment initiative. Ron Ellis, co-founder, president and CEO of Lafayettebased Endocyte Inc., a biotechnology company focused on the treatment of cancer through receptor-targeted…

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EYE ON THE PIE: Taxes pay for what Hoosiers want

Good people, me included, have been making dumb statements about the property tax mess in Indiana. The problem is that we don’t know enough to talk or write intelligently on the topic. The result is that we can be led by our noses into an even worse mess. “Abolish the property tax!” some demand. Then what? Abolition of the property tax means raising some other taxes or fees, unless government spending on services decreases. The state has been urging counties…

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NOTIONS: A property tax sigh of relief and a reform wish list

The nightstand clock reads 5:17. Too early to wake up. But hey, I’ve been tossing and turning for hours, so why lie here any longer, pretending? The cause for this night’s insomnia is money. Money for two kids starting college. Money to replace the Money to paint the house. Money for employees’ salaries. Money for employees’ parking. Money for employees’ retirement. Money for employees’ health insurance. Money for their families’ health insurance. Money to get the yellow highway paint off…

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Scientific work experience gives attorneys a boost: Lab knowledge helpful in intellectual property work

At first thought, people might assume most attorneys have undergraduate degrees in political science or criminal justice. And while many do, those with backgrounds in engineering, chemistry, physics, and other sciences are being drawn more and more to law because of the growth of interest from businesses in intellectual property. Some IP attorneys decided to take the leap from working in the science world to the legal one, and those who did it say their time working in a lab…

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Indiana’s life sciences resources to be catalogued:

An idea fermenting for some time in the minds of several Indiana Health Industry Forum insiders has solidified into a plan to catalogue all life sciences-related resources across the state. The not-for-profit group, which promotes economic development in the health care and life sciences industries, will use the information to create strategies for communities, regions and the state to boost Indiana’s growth in the industry. Companies including Eli Lilly and Co., Roche Diagnostics and Zimmer Holdings have put the state…

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Industry takes deep breath over ozone: Tougher EPA standards could force costly emission controls, choke economic growth

Just when the nine-county metro area appeared back in the good graces of the federal government where ozone levels are concerned, the feds want to tighten the standard once more. Manufacturers and other businesses that pump pollutants into the air that combine with sunlight to produce ozone are “apprehensive” about the proposed new rules, said Patrick Bennett, vice president of environmental, energy and infrastructure at the Indiana Manufacturers Association. Businesses in non-attainment counties face possible restrictions on expansion of facilities…

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City steps up effort to help immigrants: Mayor’s wife spearheading program to better acclimate newcomers

The burgeoning number of immigrants arriving in Indianapolis have a new source available to help them navigate unfamiliar surroundings and the kaleidoscope of social support systems available. The Immigrant Welcome Center is a program launched in October that uses volunteers dubbed “natural helpers” to link foreign newcomers to such basic needs as health care, government and transportation services. Although the effort is nearly 9 months old, it’s just now getting up to speed as organizers are interviewing candidates to lead…

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ECONOMIC ANALYSIS: Long spoiled by low rates, nation now faces increase

It wasn’t long ago that writing an economic analysis column meant-surprise-that you analyzed the ups and downs of the economy. And if you came of age in the 1960s and ’70s, there were plenty of ups and downs to keep track of. Volatility in just about everything was higher then, with strikes, inflation and more frequent recessions the order of the day. And even though that environment has changed remarkably since the mid-’80s, the habit of peering at the data…

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‘Find your niche ‘:

His goal was to provide the proverbial one-stop shop, a place where “honey do” lists got done. Before long, he realized he may not have been aiming high enough. It seemed homeowners with not-so-handy honeys weren’t the only customers interested in what Schneller was selling. He also got calls from real estate agents who needed some last-minute home repairs completed before a sale could close. “They came to us with a laundry list of items,” Schneller said, ticking off an…

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A&E: Building connections at IU Museum

This week: An architectural art show at IU, Kurt Vonnegut’s board game, “Sissies” on stage, and an Indy Jazz Fest question. An art museum exhibition doesn’t have to be a multi-room blockbuster to be enormously satisfying. Case in point, “Architecture, Real and Imagined” (running through Sept. 2 at Indiana University Art Museum). It’s a must-see for architects and architectural students, but also an accessible show for anyone interested in where we live and how we adorn and perceive our environments….

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Bigger not best for all: drophead Many attorneys find greener pastures in smaller practices after leaving major firms

not Bigger leaving best for red all tape drophead Many attorneys find greener pastures in smaller practices after leaving major firms When lawyers Debra Miller and James Fisher fled legal powerhouse Ice Miller LLP and the prestigious partner status they had earned, their stable of coworkers swiftly sank from nearly 250 to none. Yet 15 months later, after the pair left the largest law firm in the city, they say they’re quite content practicing together at Miller & Fisher LLC,…

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HUMAN RESOURCES: If you hire in a hurry, you may feel bad for a long time

Of all the components of finding and hiring the right employees, employers consider interviewing job candidates the most difficult. If not done well, interviews can lead an employer to make the wrong decision. Why? Because job candidates rehearse their answers to the traditional interview questions, telling the employers what they want to hear. However, if employers ask behavioral based questions, job candidates can’t manipulate their answers as easily. Perhaps a scenario-a composite taken from typical real-life episodes-will illustrate the difference…

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Chrysler plant redevelopment might be slowed by lien

An Indianapolis firm that helped haul away the demolished DaimlerChrysler Corp. foundry last year has placed a mechanic’s
lien on the automaker’s property, potentially complicating the sale of the 34 acres already challenged by environmental issues.

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