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Symphony Bank results keep hitting sour notes: CEO hopes to succeed by taking bank ‘to the people’

Symphony Bank’s palatial branch along East 96th Street-outfitted with a copper roof, towering domed ceiling and heated parking lot-was designed to telegraph wealth and stability. But instead, the $5 million Taj Mahal became the most prominent symbol of the bank’s excesses and one reason the startup has lost money every year since its founding in June 2005. The bank, which has no other branches, has torn through two management teams and piled up annual losses of $2 million or more…

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Commentary: Earl Harris was a classic mentor

They say you should live such a long life that, when you die, you will have no friends left to attend your funeral. Last month, Earl Harris passed away at the age of 90 and he went one better. At his request, he had no funeral at all. The only mark of his passing was a short obituary in The Indianapolis Star undoubtedly paid for by his family as per Starowner Gannett Co.’s policy. Permit me to add a little…

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Companies prepare for tougher breach law: Writer of security bill wanted more protections

Imagine a busy local bank that signs several new accounts weekly. With each new customer, the bank receives that person’s Social Security number, home and business addresses, and entire financial history. But what if a computer containing all that personal information-so useful for identity theft-is stolen from the building? Should the company notify its customers of the possible danger or hope the information itself is safe and keep quiet to avoid scandal? To answer those questions, the Indiana General Assembly…

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Angels invest where others fear to tread: Wealthy entrepreneurs join forces to create HALO Capital Group

Some high-tech companies are so risky that even venture capitalists quiver. That’s when they turn to angels, who aren’t afraid to fly to the rescue of cash-strapped innovators with chancy yet possibly lucrative ideas. Last year, two dozen of central Indiana’s most successful business veterans decided to intercede on behalf of Hoosier entrepreneurs. They formed HALO Capital Group, a network of angel investors who seek to speculate on promising Indiana startups. Every other month, the HALO group meets at a…

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Biz cards get creative: Smaller firms turning to bolder graphics to stand out

In the face of tough economic times, many small businesses are cutting back on advertising and canceling direct mailings as they tighten their financial belts. But some are still looking to stand out by jazzing up a basic: business cards. That’s good news for local graphic design firms that specialize in business-card customization-an industry that generates an estimated $1.2 billion each year nationally. “Business has improved in this economic climate because creative cards are a cheap marketing tool,” said Don…

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Housing slump not all bad news: Slow residential market boosts some small businesses

Many homeowners watching the housing market are fretting about their property values as for-sale signs linger, foreclosure postings dot neighborhoods and credit is harder to come by. But the housing turmoil is actually helping some local businesses-particularly those specializing in marketing properties and helping to sell them. “There are positives and negatives to the housing slump,” said Brian Mayo, owner of Life Homes Inc., an Indianapolis-based property-sales and -management company started in 2005. “Purely from our business’s perspective, we’re one…

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VOICES FROM THE INDUSTRY: As business property taxes rise, who really pays the bill?

All Indiana counties revised property tax bills as a result of an outcry by thousands of homeowners who fought back when they saw their 2007 tax reassessments and bills. Assessors had to go back to work and try again. So, they did. The new bills are out, and while it may be good news for homeowners, you can bet commercial property owners aren’t turning cartwheels in the parking lot. The average assessment for commercial properties (where you shop, work and…

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RETURN ON TECHNOLOGY: Business isn’t losing any sleep over new technology

I’ve been looking over some business polls from 2007 and 2008, and I have to tell you I’m disappointed. As a technology columnist, I’d hoped that companies would be perpetually lathered over all sorts of thorny technical issues that only new purchases could solve and that I could critique. Silly me. But still, I went into the exercise with high hopes. After all, isn’t every aspect of a business permeated by breakable, worrisome technology of all kinds? And doesn’t every…

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SMALL BUSINESS PROFILE: MATRIX LABEL SYSTEMS INC.: Label maker manufacturing growth – again Fourth expansion project set to open this summer

SMALL BUSINESS PROFILE MATRIX LABEL SYSTEMS INC. Label maker manufacturing growth – again Fourth expansion project set to open this summer Within a month, Plainfield-based Matrix Label Systems Inc. will break ground on a fourth addition to its central Indiana facility, adding nearly 17,000 square feet of warehouse space and potentially more workers. That’s just the latest growth spurt at the 23-year-old company that started out of a garage and now has 50 employees and $15 million in annual revenue….

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VOICES FROM THE INDUSTRY: New tax break makes Indiana more attractive than ever

Rapid growth in the high-tech fields of biotechnology and life science has made Indiana a shining example of how promoting emerging industries can transform an agricultural and manufacturingbased economy into a national leader in innovation. It has done so by creating an environment in which knowledge-based businesses can thrive. Building on this success, Indiana continues to position itself as a leader in emerging technologies. A new tax law that took effect this year will present another major step toward this…

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Inventors wary of reform bill: Radical changes to U.S. patent law may be hindrance to small players

A federal bill expected to receive a vote from the Senate this year would trigger the most radical changes to the U.S. patent system in more than 50 years. Supporters of the Patent Reform Act of 2007 want to switch to a “first-to-file” system that would grant patent rights to the first person to file an application. The United States is the lone country still using a “first-to-invent” system that rewards an inventor who first conceives the innovation, even if…

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Firm that sells sunglasses for large heads lands Wal-Mart deal

In March 2006, USA Today picked up a local newspaper’s profile of Indianapolis-based Fatheadz Inc., the company Rico Elmore
and two partners founded in 2005 to sell eyeglass frames for larger heads. That eventually led to the company’s big break:
A Wal-Mart Stores Inc. executive read the article and ordered buyers to track down Fatheadz to make a deal.

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Fans give dancing a whirl: Many studios report seeing a boost in enrollment, younger students

As millions of television viewers have been swept up in the twirl of the ABC reality series hit “Dancing with the Stars,” local studios are cashing in on the craze as everyday folks try to learn to dance like fall winner Helio Castroneves. Dance studio owners said they’ve seen a surge in business since the television program debuted in 2005, and the tempo has picked up with each new season. Simply Ballroom owner Romaric Cansino said he surveys all new…

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VIEWPOINT: Improving health: more than a January fad

As I waited in line at the cafeteria just into the new year, I watched the man in front of me. It would be easy to assume the salad and wrap station would provide patrons with a healthful lunch option. Yet I saw a generous portion of fried chicken in a spinach tortilla topped with a pile of cheese and several servings of salad dressing. The man might have started with good intentions, but in a matter of seconds a…

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Community education keeping up with business: Lawrence Township, other districts making classes more convenient

Thirteen years ago, long before the current commotion over escalating property taxes in Marion County, a local public school superintendent became embroiled in a similar uproar. Residents of Lawrence Township in 1994 challenged former district leader Bernard McKenzie to rein in what they perceived as excessive spending of taxpayer funds. He responded by creating the Lawrence Township Community Education Program as a testament to the citizens and their support. Today, it has grown to serve about 6,000 people annually and…

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‘ Set the bar high’: LESSONS LEARNED KEVIN TEASLEY President, GEO Foundation CEO, 21st Century Charter Schools

KEVIN TEASLEY President, GEO Foundation CEO, 21st Century Charter Schools Kevin Teasley didn’t have clear-cut expectations when he and a small group of reform-minded dreamers opened 21st Century Charter School in 2002. The publicly funded-yet-independent schools were brand new in Indiana, and no one really knew what came next. Would 21st Century’s one-room schoolhouse approach draw talented teachers? Would students respond to a different kind of education? Organizers had high hopes, to be sure, but they operated more on instinct…

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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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PROFILE: AimFire Marketing: Job hopping led marketer to become her own boss AimFire’s specialty: Optimizing Internet search engine results

AimFire Marketing Job hopping led marketer to become her own boss AimFire’s specialty: Optimizing Internet search engine results Little more than three years ago, Susan Young’s custom Brownsburg home had two extra bedrooms, and the daily commute to Synergy Marketing Group in Indianapolis kept her home and office in separate worlds. Today, Young has two new babies: her 7-month-old daughter, Elaina, and her young business, AimFire Marketing. One of those once-empty rooms is now the heart of her six-figure career….

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