Articles

Wells Fargo sees city as ripe for expansion: Commercial banking, capital management key to Indianapolis plan

Wells Fargo & Co. took a couple of quiet but important steps earlier this year as part of a plan to build a major presence in the Indianapolis banking and financial services market. The San Franciscobased corporation in March opened a local Commercial Banking Division headed by longtime banking executive Lex Curry and a capital management office headed by well-known stock manager Tom Pence. The moves, by the nation’s fifth-largest bank in terms of assets, are part of a corporate…

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CHRIS KATTERJOHN Commentary: China Syndrome hits 21st century

The Chinese have taken a keen interest in U.S. corporations of late. Just this year, a Chinese firm acquired the personal computer business of IBM Corp., and a consortium led by a large Chinese conglomerate investigated-but dropped-the idea of buying appliance maker Maytag. Though they involved long-standing and cherished American brands, neither deal raised too much reaction from American business executives or politicians in Washington. By contrast, when China’s CNOOC Ltd. offered in June to acquire California-based Unocal, all hell…

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Auto auction board hikes own pay: Adesa Inc. also sent executive packing with full-sized severance

Vehicle auction giant Adesa Inc., which already pays one of the richest sums to its directors of any local company, has jacked up its annual board retainer 50 percent. Meanwhile, the Carmel-based company also has disclosed details of a severance package it paid to Executive Vice President James P. Hallett worth more than $1.3 million, not including the value of his stock options. Both events were disclosed in documents filed recently with the Securities and Exchange Commission. The eight-person board…

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SPORTS: Artest’s future bright as long as Bird’s in his corner

In this space and in other media forums, I have expressed optimism that the Indiana Pacers’ Ron Artest will (a) make it through an entire NBA season without incident, (b) perform like the selfless allstar he has been and can be again, and (c) therefore justify the Pacer management’s faith in keeping him in a blue-and-gold uniform. What I fear, of course, is that he’ll do (d) none of the above. Artest’s talent is obvious. Unfortunately, so is his volatile,…

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INVESTING: Rising rates could create opportunities for profit

Interest rates are interesting, right? Well, to a market geek like me, maybe. I know the rest of you take a glancing look at borrowing costs maybe once a month, and you might have even stopped doing that, given that rates have been pretty much unchanged over the past year and a half. A quick bond primer: When you watch CNBC and someone says bonds are falling, that means interest rates are rising, which causes bond prices to fall. When…

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Narrow Gate Media LLC: Brothers help others sell via the Web They’ve developed a template that can be tweaked to create unique sites

“People would always tell me I had the personality and social skills that made me a good salesman,” said Vaught, who, with his older brother Tim Vaught, founded Narrow Gate Media LLC in January 2000 in Indianapolis. For example, when Tom Vaught bought a motor scooter for his paper route, all his friends wanted to ride it, and he let them-in exchange for delivering the newspapers. “They got to ride the scooter and I still collected the money” from the…

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Diversity marketing gains steam in central Indiana: Ad agencies helping convey cultural revelancy

Ethnic or diversity marketing, once confined to major cities such as Dallas, New York and Los Angeles, is taking hold in Indianapolis. “We have seen a gradual but growing response among clients to communicate to a multicultural audience,” said Clyde Bodkin, president of locally based Bodkin Associates Inc. “Not everyone is in the same place, but smart companies are finding culturally sensitive, culturally relevant ways to communicate to their target markets.” Diversity marketing is the fastest-growing sector of Bodkin’s 14-person…

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Historic battle settled: Prairie pact lays out plans without judging past practices

But whatever Earlham College puts in the 41-year history of credits and debits, it will have no bearing on the resolution of a decades-long dispute over control of the Hamilton County attraction. That deal is largely done. Carter and Earlham board Chairman Mark B. Myers ended nearly two years of negotiation July 5, putting quill-topped ballpoint to paper in front of a cheering crowd in the museum’s Welcome Center. The agreement-which frees Conner Prairie from Earlham’s control and calls for…

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Women find niche leading credit unions: Unique nature of those financial institutions may explain why females thrive there

Karla Salisbury started her career at a savings and loan that was later purchased by an out-of-state bank. After a few years, she foresaw that she might have to relocate to advance in the company, “and that was not part of my plan,” Salisbury said. So she did some research to see where her best opportunities might be. One thing she investigated was how many women there were in upper management in banks vs. credit unions. She found the top…

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CHRIS KATTERJOHN Commentary: The Prairie is saved at last!

Few things in the not-for-profit world have gotten my dander up more than the ongoing saga of Conner Prairie the last two years. More to the point, I have been dismayed by the disrespect and lack of gratitude shown by Earlham College toward a dedicated board and CEO who worked so hard to put the museum on the map before being summarily fired by the school in 2003. Thanks to reporter Andrea Muirragui Davis, our newspaper has led the local…

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SPORTS: If heroes fail as role models, put yourself in the game

– Luke 12:48 In light of the above Scripture, many would agree that among the most blessed creatures on this Earth are professional athletes. As has been noted often, they receive handsome compensation to play games, and it doesn’t really get much better than that, does it? Along with the fortune, however, comes celebrity, and from celebrity comes attention. That means there are no non-public public moments. The spotlight illuminates both the good and the bad. These thoughts come to…

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South downtown parking lot eyed for mixed use: Project slated to include ground-floor retail, with residential or office space above

A Lafayette developer has a parking lot on the southeast corner of Meridian and South streets under contract with plans for a mid-rise, mixed-use building. Developer John Teibel plans to purchase the 1.4-acre lot from local investors Robert and Karen Dittemore, who have owned the lot for several years, said Scott Langdon, who is representing the couple. The lot is across the street from Eli Lilly and Co.’s Faris/Brougher complex. Plans call for the first floor of Meridian Overlook to…

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RETURN ON TECHNOLOGY: Here’s the secret to painless wireless hookups

Last time, in the June 27 issue, we explored the basics of data WiFi, which is often just called “wireless.” This time, we’ll look at how you hook up your laptop or notebook to a wireless provider. Wireless works pretty much like a cell phone does, except that you’re exchanging data packets, not voice. Therefore, you need the computer equivalent of a cell phone. Most new notebook computers come with built-in wireless hardware that you’ll never physically see, because it’s…

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Living wills get surge of interest: Lawyers, caregivers, estate planners field more questions about advance directives in wake of Schiavo case

When Mick Meiners brings up living wills these days, his clients tend to pay more attention than they did before the Terri Schiavo case dominated headlines. “In the past, people would say, ‘Yeah, that might be something I might get to or it’s something my parents should do,'” said Meiners, a certified financial planner with Financial Plans & Strategies Inc. of Indianapolis. The St. Vincent Hospice also has seen a spike in interest, with more phone calls from people asking…

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SPORTS: NBA’s delayed-entry rule, Michelin’s move and more

So much news, so little space. Item: The NBA and its players’ association enter into a new collective bargaining agreement that will increase the age for draft eligibility to 19, or to one year after an athlete’s high school class has graduated. Reaction: Perhaps the NBA and its players’ association believed they were tossing those involved in college basketball a bone by raising the age limit. If so, it is a bone that likely will stick in the throats of…

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Ball State fosters alliance with film production pros: Center aims to help students and industry

It’s a film school without the film school. Buoyed by a $20 million grant from Indianapolis-based Lilly Endowment Inc., Ball State University’s digital learning efforts are making way for a wave of projects worthy of attention on and off campus. Recent graduate Jaron Henrie-McCrea rode the swell all the way to the Student Academy Awards last month, winning an Oscar for his short film, “Knock Knock.” Less than a week later, global industry group Media Communications Association-International honored three other…

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ITT paid for feds’ aggression: Sweeping probe didn’t lead to charges against firm, top execs

On a chilly winter morning 16 months ago, federal investigators converged on ITT Educational Services Inc.’s Carmel headquarters and 10 of its 77 campuses, gathering documents in a high-profile raid that rattled investors and sent the company’s shares into a free fall. Now, the U.S. Attorney’s Office in Houston, which obtained the search warrants authorizing the raid, acknowledges its sweeping criminal probe failed to turn up evidence that would justify charges against the company or its top brass. The turnabout,…

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By George: Speedway owner gains clout in Formula One negotiations

There may be a silver lining to the cloud that descended over Indianapolis Motor Speedway at last month’s U.S. Grand Prix: President Tony George has emerged unscathed from a public relations standpoint and has never had more control over the Formula One race his track hosts. Michelin, the French tire maker for the 14 cars that withdrew from the race because of tire-safety concerns, has offered to refund fans’ ticket costs. That’s a $10 million to $12 million expense the…

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Jail plan calls for speedier courts: Prosecutor still seeking more beds

Marion County Prosecutor Carl Brizzi’s colleagues say relieving jail overcrowding is a question of efficiency. Since jail is meant to be a temporary stop for alleged criminals, they argue, improvements in the process from booking to trial can largely eliminate the need for early release. So why is Brizzi the lone wolf still clamoring to add more jail beds? “Everyone says that you can’t build your way out. How do you know that?” asked Brizzi, a Republican. “We seem to…

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SPORTS: Keep F1 and its cash coming back to Speedway

I enjoy auto racing but must admit Formula One is not my cup of motor oil. On assignment for the local daily, I was at the initial U.S. Grand Prix at the Indianapolis Motor Speedway, wrote a less-than-positive column about it, and haven’t been back since. I liked the technology and the spectacle of the passionate, flag-waving fans, but everything else I viewed with disdain. Particularly distasteful was/is the smugness that permeates the F1 atmosphere. It emanates from the series’…

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