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Fishers planning tech incubator: Town hires former IU Emerging Technology Center chief to lead biz park

Fast-growing Fishers has the kind of assets economic developers dream about-strong schools, affordable housing and median family income of $81,971. Now the town wants to build on that foundation by adding a high-tech business park to its list of amenities. “Businesses are looking to come to a site where they can find employees with the requisite level of education and the ability to get additional education close by. Education is the key,” said Fishers Town Council President Scott Faultless. “We…

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HHGregg faces lawsuit over dryer installations: Vents often installed improperly, customers claim

Appliance retailer HHGregg is facing allegations that it improperly installed dryer vents in potentially thousands of consumers’ homes, despite warnings that such vents could cause fires or other safety hazards. A lawsuit filed in U.S. District Court claims the Indianapolis-based retailer installed plastic or foil “slinky” vents, even though many dryer manufacturers specifically call for heavy metal ducts to be used. The suit asks that HHGregg replace the improper vents and pay an unspecified amount in fees and damages. “Our…

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Entrepreneur has high hopes for deck-chair markers

In late May, Darrell Bowman launched Lounge Hats LLC, an Indianapolis-based company that makes fabric covers that fit over
beach or pool-side chaise lounges to make one thing clear: This seat is taken. Bowman withdrew $20,000 from personal savings
and added another $50,000 from an investor, his friend Mike Oswalt, to start the company. He runs Lounge Hats out of his garage,
hiring a Chinese company to sew the hats and contracting with a local printer to finish them off.

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A&E: Chinese art from within and without

This week, China art at the Indianapolis Art Center. And a famous scroll finds itself in remarkable company at the Indianapolis Museum of Art. Anyone who has set foot into the Indianapolis Art Center has bumped into the name Fehsenfeld. It is, after all, half the moniker of the center’s Churchman-Fehsenfeld Gallery. And so I think some skepticism was to be expected when I heard that one of the two artistic worlds showcased in the Indianapolis Art Center’s “Two Worlds,…

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Commentary: Wishing Nat City a speedy recovery

On June 19, The New York Times business section led with an article titled, “Regional Banks are Rocked.” The accompanying graphic indicated that National City Bank lost 86 percent of its market value since the beginning of this year. No wonder. The news has not been good. On June 10, Peter Raskind, chairman and CEO of National City, acknowledged publicly that on Feb. 5, the bank had been placed under a memorandum of understanding by the comptroller of the currency….

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Ailing Steak n Shake rehires ad agency, but will pact stick?

Local advertising powerhouse Young & Laramore signed a new contract with Steak n Shake, one of its flagship clients, just
two weeks ago, but ad industry observers can’t help but wonder if the 18-year-old relationship is about to run its course.
Before the ink on the contract was dry, the struggling hamburger chain had a new board chairman who is likely to shuffle Steak
n Shake’s executive suite and take the company in a new direction.

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Director pay rising with demands on corporate boards: Some members manage to serve multiple Indiana public companies; median compensation exceeds $59,000

Joe Ruffolo learned a great deal over 35 years as an executive at PepsiCo., Squibb Corp., Reynolds Aluminum and North American Van Lines. Now running his own investment banking company, Fort Wayne-based Ruffolo Benson LLC, Ruffolo also holds seats on a halfdozen company boards. Executive compensation experts say that’s too much on one plate. Ruffolo is one of a handful of Hoosiers who serve as independent board directors of more than one Indiana-based public company. Experts say it’s an increasingly…

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SPORTS: Before ESPN, there was McKay and ‘Wide World’

It might be a bit over the top to say that a man I met only once and barely knew had a profound influence on my life, but that’s how I felt about Jim McKay. Thus, when I tuned in to view the Belmont Stakes on June 7 and the lead story was not of Big Brown’s (failed) bid for the Triple Crown but of Jim McKay’s passing at the age of 86, I admit I felt a sudden pang…

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INDIANAPOLIS BUSINESS JOURNAL:

INDIANAPOLIS B sJOuRNAL E S TA B L I S H E D 1 9 8 0 L O C A L LY OW N E D 41 E. WASHINGTON STREET, SUITE 200 INDIANAPOLIS, IN 46204-3592 317-634-6200 Fax: 317-263-5060 Editorial Fax: 317-263-5406 E-mail address: info-ibj@ibj.comWeb site address: www.ibj.comChris Katterjohn VICE PRESIDENT/ SALES & OPERATIONS Greg Morris EDITORIAL Editor – Tom Harton Managing Editor – Greg Andrews Associate Editors – Andrea Muirragui Davis Tawn Parent Focus Editor – Jeff Newman Online…

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VOICES FROM THE INDUSTRY: Logistics still driving central Indiana industrial market

For the past 10-plus years, central Indiana has benefitted from growth in the distribution/logistics industry with hundreds of new jobs and millions of square feet of new facilities. We’ve seen massive facilities go up one right after another, often topping the square footage of our tallest downtown skyscrapers. In the past eight years alone, the square footage of central Indiana distribution centers has more than doubled from 20 million square feet to 51 million square feet. And we’re not just…

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VOICES FROM THE INDUSTRY: There are Six Sigma options; Here’s a look at six of them

While many manufacturing companies are implementing Six Sigma for continuous process improvement, it may not be the most practical solution for every company. Smaller manufacturers can benefit from applying many of the tools found in the Six Sigma methodology, but on a more manageable scale for daily process improvement. While far from a complete list, the following six practical tools may be used by smaller companies who are motivated to continually streamline production and improve productivity: Key performance indicators Most…

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Installation of Booker art moves to July 14: Nine works sprinkled downtown were inspired by auto industry, Madam Walker, among others

Now the city is ramping up to show off 10 pieces from New Yorkbased artist Chakaia Booker-all but one of which she is creating specifically for Indianapolis. Set to roll out July 14, the ambitious outdoor show features nine pieces Booker came up with after three visits to the city. One existing piece, a 6-foot sculpture made of steel and tires that resembles a palm tree, will be installed at the Indianapolis Art Center’s ArtsPark. Her new work was inspired…

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Commentary: Listen, learn at summer camp

The war in Iraq is intolerable and interminable. We are struggling with a recession, a flawed energy policy, a weak dollar and an enormous government deficit. President Bush has earned a lower approval rating than Cinderella’s stepmother-and I’m sitting here thinking, “What if the election of 2000 had gone the other way?” Join me and pose that question to Ron Klain at the men’s edition of Mickey’s Camp this summer. Klain is arguably one of the most well-known national Democrats…

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VOICES FROM THE INDUSTRY: Remember the consumer in ‘consumer-driven’ plans

While many businesses have made the phrase “consumerdirected health care” a standard part of benefits conversations, too many have failed to do the one thing that will make this approach successful: treat employees like consumers. Instead, employers have “communicat ed” this new benefit trend the same old way, with jargon-laced handouts, uninformative brochures and dry presentations. No wonder all employees aren’t embracing consumer-directed health care. Researchers wouldn’t be surprised by employees’ slow adoption. Studies show that employees typically are more…

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RETURN ON TECHNOLOGY: No, WiFi isn’t killing you … or even making you sick

The other morning I woke up feeling like the bottom of a garbage collector’s shoe. It must have been due to my wireless signal. Maybe I’m “allergic” to my WiFi, like some people in Santa Fe, N.M., say they are. Television station KOB had the story May 20. And yep, there are just three letters in the call sign. The station goes back to 1948. Apparently, so do the sensibilities of some of the residents of Santa Fe. A group…

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INVESTING: Betting against the crowd is a good way to invest

It’s time for a gut check on sentiment. In the stock market, sentiment is a contrary indicator, meaning that if everyone thinks the same thing (such as oil is going to $200 a barrel soon), your safer bet is to go the other way. Wall Street history is loaded with juicy examples of this theory at work. One of my favorites is Time magazine’s making Jeff Bezos, the CEO of Amazon, Man of the Year in 1999, right before the…

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Officials turn up call for 2-year degrees: State putting emphasis on higher education options

State and local leaders are turning up the amp on the importance of higher education, but they’re also trying to tune students into the message that being college-educated doesn’t have to mean spending four years at a university. In recent weeks, both Indianapolis Mayor Greg Ballard and Indiana Gov. Mitch Daniels have loudly proclaimed the state’s need for more workers with twoyear degrees. While government officials have long said the state needs a more educated work force to attract business,…

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IPIC’s BioWorksU virtual effort wins acclaim:

A new Web site developed locally and designed to attract youngsters to careers in the life sciences sector now shares something in common with the wildly popular Club Penguin site. The Indianapolis Private Industry Council, with assistance from locally based Creative Street Media Group, created BioWorksU.com. And while more educational and likely more appealing to a larger age group than Club Penguin, the two were among recent Webby Awards finalists. Called the “Oscars of the Internet” by The New York…

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Indy Racing League enters talks for new TV deal: Negotiations start this month with ABC/ESPN, but deal may be shopped to other networks to gauge interest

After the checkered flag dropped on this year’s Indianapolis 500, the green flag fell on negotiations for a new television contract between the Indy Racing League and ABC/ESPN. The current deal doesn’t expire until the end of next season, but the contract calls for the parties to discuss an extension starting this month. Sources close to both sides said ABC/ESPN pays the IRL about $10 million annually, but getting that kind of guaranteed cash beyond 2009 could be difficult. Still,…

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