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ECONOMIC ANALYSIS: Revised data shows state faring better than thought

If you were watching this space to see what-if any-silver lining for Indiana could be found in the harsh blows about to fall on the high pay, full benefit, Big Three automaker production jobs I promised to talk about last week, I ask your forbearance. The Toyota Corp. has beaten me to the punch. The company’s announcement that it plans to build its top-selling Camry in Lafayette says it better than any words I could come up with. The future…

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You can take it to the bank: Financial experts say state’s economy is rising, merger mania isn’t over and regulatory laws could take a toll

On Feb. 24, IBJ Publisher Chris Katterjohn, Managing Editor Greg Andrews and banking reporter Matt Kish sat down with four leaders from Indianapolis’ banking and finance sector: Judith Ripley, director of the Indiana Department of Financial Institutions; Kit Stolen, CEO of Union Federal Bank of Indianapolis; Steve Beck, president and CEO of the Indiana Venture Center; and Keith Slifer, senior vice president of LaSalle Bank. Among the topics of conversation: How’s the state’s economy doing? Are more bank mergers on…

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BEHIND THE NEWS Auditor jabs Obsidian as it prepares to go private:

If all goes as planned, a Tim Durham-led investment group will take publicly traded Obsidian Enterprises Inc. private by the end of the month. The Indianapolis company’s five-year run on Wall Street has been inglorious by any measure. Stock in the transportation and manufacturing firm has tumbled, from a split-adjusted $12 in 2001 to $1.80 today. Over the last three years, Obsidian has posted a combined $22 million in losses. As if that weren’t enough, now the company’s former outside…

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Emerging India: Indians explore prospects in Indiana: Delegation of 15 execs finds opportunities during tour of Indianapolis, Purdue tech park

Indians explore prospects in Indiana Delegation of 15 execs finds opportunities during tour of Indianapolis, Purdue tech park J.V.V. Satyanarayana spent the last three years launching his Chennai, India-based software firm. But after only 24 hours in Indianapolis, he was ready to expand his operation. Satyanarayana was part of a delegation of 15 Indian executives who visited Indiana last week. His business, SVL Infotech, manages the IT end of medical billing. It has 100 employees and handles claims worth $100…

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Emerging India: Opportunity or threat?: Indiana businesses brace for growing global competition

Opportunity or threat? Indiana businesses brace for growing global competition Next month, President Bush will make his first official visit to India. To most of the American media, it’ll be just one more round of global terrorism discussions with a distant foreign nation, perhaps worthy of a brief. The Indian press knows better. Six weeks ahead of Bush’s trip, banner headlines about it ran in every newspaper. Al Hubbard knows better, too. Friends with Bush since their days at Harvard…

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Roll the cameras: State cranks up efforts to court film industry under new task force

North Carolina offers a 15-percent tax credit to filmmakers to help offset production costs. The credit recently helped sway a national retailer to shoot an in-store commercial there instead of in Indiana. While the $600,000 production hardly compares to a multimillion-dollar motion picture, losing it was a big deal for local companies that didn’t get the work. Holli Hanley of Grand Illusion Lighting Inc. in Zionsville, which rents lighting equipment to production companies, lamented the loss. “Everyone in the entire…

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VIEWPOINT: Our schools let talent go to waste

We have two kinds of schools: those that encourage each child to be all he/she can be and those that focus on being efficient institutions for groups of children. The first kind of school finds ways to help each child who struggles, meets each child’s educational needs, and finds ways to provide each child with the context to achieve as much as he/she can at the most appropriate pace. The second kind of school is focused on making sure as…

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Firm retools after CEO exit: Norwood gives up on sale, to close 2 plants

In recent months, Norwood Promotional Products has settled a lawsuit with its distributors, lost its CEO, put itself up for sale, and then taken itself off the block. Last week, the 2,000-employee company announced plant closings in Iowa and Pennsylvania. The swirl of activity is no cause for concern, according to Norwood officials, who say the No. 2 player in the promotional products industry is doing fine and will stay in Indianapolis. The privately held company-known for making customized products…

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EYE ON THE PIE: Let’s revisit the State of the State

Quite appropriately, Gov. Mitch Daniels did not make any claims about “a revitalized Indiana economy” in his recent State of the State speech. He stuck to the theme that we are on track to turning the economy around rather than proclaiming any victory. This restraint was well-warranted. Indiana ranked 45th among the 50 states in its rate of employment growth for the past year (November-to-November figures). The nation added jobs at a 1.5-percent rate. Our 0.3-percent increase beat out only…

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Firm retools after CEO exit: Norwood gives up on sale, to close 2 plants

In recent months, Norwood Promotional Products has settled a lawsuit with its distributors, lost its CEO, put itself up for sale, and then taken itself off the block. Last week, the 2,000-employee company announced plant closings in Iowa and Pennsylvania. The swirl of activity is no cause for concern, according to Norwood officials, who say the No. 2 player in the promotional products industry is doing fine and will stay in Indianapolis. The privately held company-known for making customized products…

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EYE ON THE PIE: Let’s revisit the State of the State

Quite appropriately, Gov. Mitch Daniels did not make any claims about “a revitalized Indiana economy” in his recent State of the State speech. He stuck to the theme that we are on track to turning the economy around rather than proclaiming any victory. This restraint was well-warranted. Indiana ranked 45th among the 50 states in its rate of employment growth for the past year (November-to-November figures). The nation added jobs at a 1.5-percent rate. Our 0.3-percent increase beat out only…

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VIEWPOINT: Our schools let talent go to waste

We have two kinds of schools: those that encourage each child to be all he/she can be and those that focus on being efficient institutions for groups of children. The first kind of school finds ways to help each child who struggles, meets each child’s educational needs, and finds ways to provide each child with the context to achieve as much as he/she can at the most appropriate pace. The second kind of school is focused on making sure as…

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ECONOMIC ANALYSIS: The new economic reality: It’s all about the work force

Since these words usually find their way out onto the Internet, I thought I’d work in the following phrase to get the hit counters for the new year off to a good start: Evolution vs. intelligent design. Ah, that should do it. I can hear the sounds of computer mouse clicks already. And, believe it or not, there’s an economic angle to that debate. Not literally, of course. Economics is pretty important, but I will concede that the creation of…

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From FFA to DNA: Businesses view convention as more than a gathering of corn growers

Don’t call it the Future Farmers of America. That went out of style with pastel suits and parachute pants. The organization is now known as the FFA. And it’s no longer just a gathering of crop jockeys. The change in moniker partly illustrates why business leaders are so excited for the first of at least seven annual conventions the organization will stage in the Circle City starting in late October. “FFA is a premier, if not the premier, youth organization…

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ECONOMIC ANALYSIS: We want to spur economy, but what’s the best way?

If you want to get an idea just how hot the topic of economic development is in Indiana these days, take a stroll over to the Department of Insurance’s Web page. Instead of finding notices of regulatory proceedings or a lineby-line listing of the insurance code, you’ll get a spirited, enthusiastic rundown of all of the reasons Indiana is a great state in which to locate your insurance company. If you happen to own one, that is. That’s a little…

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Education, work force key hurdles to new economy:

Having recently returned to Indiana after a 15-year absence, I see a region filled with both challenges and opportunities. The Central Indiana Corporate Partnership, the organization I’ve returned to serve as president and CEO, is focused on long-term economic prosperity for our region. To this end, our people are our most valuable resource. Unfortunately, central Indiana faces a significant challenge in making our human capital match our goal of a knowledgebased, 21st-century economy. Indiana ranks 46th in the educational attainment…

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Drug costs on chopping block: M-Plan introduces pill-splitting program

Indiana’s second-largest insurer, M-Plan Inc., welcomed some of its customers to the new year with a pill-splitting program that can chop prescription drug costs in half. The Indianapolis-based health maintenance organization became part of a growing crowd of insurers endorsing a money-saving concept long practiced by doctors and patients. However, pill splitting still stirs a healthy dose of concern over safety in some corners of the pharmaceutical world. “I’ve had arguments with insurance companies about this for years,” said Skip…

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In the new year, building on the successes of 2005:

This past year was one of the most active and successful in our city’s history. We pushed through legislation to fund an expansion of the Indiana Convention Center and build a new multi-purpose stadium, both of which will be tremendous boons to our region’s economy, pumping in more than $2.25 billion in investment and creating more than 4,200 permanent jobs over the next 10 years. In addition, through the leadership of the governor and legislature, a one-of-a-kind regional funding solution…

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2006: Making Indianapolis a family affair:

What’s the most pressing issue facing Indianapolis now and in the future? Depending on a pundit’s passion, answers can range from maintaining a professional sports team to supporting the cultural and arts community, from improving the quality of public schools and parks to making affordable housing available, from low taxes to a state-of-the art public mass transit system. Yet each of these areas, while they may reflect an interest group’s unwavering and at times irrational fixation, taken at face value…

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VIEWPOINT: Indiana: The Cyber Crossroads of America?

Can a state whose identity as the “Crossroads of America” in the 20th century maintain that distinction in the 21st century? Can Indiana, with numerous railroads and highways passing through it, find a competitive advantage in a world that increasingly bypasses rails and roads in favor of the virtual marketplace? Absolutely-if it is willing once again to serve as a central hub for the thoroughfares so important to the virtual marketplace and purposefully sets out to build them. Not so…

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