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VOICES FROM THE INDUSTRY: Mediocre planning efforts don’t invite people to stay

Analysts say the housing market is slowing in Indianapolis and across the nation. Perhaps that’s why three significant, real estate developments have attracted so much local media coverage recently. In one story, the City-County Council approved the development of 28 condos in Broad Ripple, despite strong resistance from the neighborhood association. Meanwhile, local planning councils easily approved two new developments-a subdivision on the far northeast side of town that will feature almost 2,000 homes and a large condominium complex in…

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Turned away, twice: Hot biotech inventor scores coastal cash after local VCs say no

When a proven Indiana life scientist invents a promising medical technology, you’d expect local venture capitalists would snap to attention. So when Lafayette-based Ash Access Technology Inc. announced March 14 it had landed $6 million in venture capital, it was surprising to note the names of the investors in the deal. None were based inside state lines. But Dr. Stephen Ash wasn’t shocked. After all, he’s been through this before. “I don’t know what happened,” Ash said. “I was disappointed….

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More students seek degree online: Working, career-hopping adults drawn by flexible degree format

ITT Educational Services Inc. may nearly double by the end of this year the number of degree programs it offers entirely through online instruction as the school seeks to enroll students who can’t make class because of work or family obligations. Six online bachelor degree programs and two online associate degree programs are in various stages of regulatory and accreditation review, according to the Carmel-based technical education provider, which has 38,800 students enrolled at schools in 28 states. President and…

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CHRIS KATTERJOHN Commentary: ‘Dallas’-like TV hit in our future?

Just as the popular prime-time soap opera “Dallas” emerged from Texas oil-industry lore, “Indiana” someday could become a mega-hit on television. After, that is, the state becomes the “Texas of biofuels” and the lurid, steamy tales of Big Biofuel begin to play out. I’m not sure who came up with “Texas of biofuels,” but the analogy surfaced after the recent announcement that the world’s largest soybean processing plant and biodiesel facility will be built in northern Indiana. With this project,…

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TechPoint names up-and-coming Mira nominees: Annual award celebrates excellence in innovation

TechPoint won’t distribute its annual Mira awards until its banquet at the Indiana Roof Ballroom May 19. But the state’s largest high-tech trade association has completed the nomination process for its top awards, pulling together a list of 49 innovative companies and educators in such categories as information technology, life sciences and advanced manufacturing. About 750 people usually attend the Mira banquet. But the awards are meant to reverberate among a far wider population all year long as confirmation which…

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Federal patent legislation could mean major changes: Proposed reform act could cut down on ‘trolling’ and litigation by switching approvals to a first-to-file system

Pending federal legislation could bring sweeping changes to a patent system critics say is broken and in need of repair. The Patent Reform Act-before Congress since last year-presents the most substantial overhaul in decades. Significant changes include creating a process to challenge patents after they are granted and awarding a patent to the first person to submit paperwork. Patents currently are granted to the first person who hatched the invention, regardless of when documents were filed. Time frames, though, can…

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RETURN ON TECHNOLOGY: Behold the upcoming Vista of Microsoft operating system

Microsoft has announced how it’s going to package and sell its brand new operating system, now called “Vista,” but long code-named “Longhorn.” The company has devoted a big chunk of its home page to a single link to more information about Vista (www.microsoft.com). Of course, you can’t buy it yet, because it hasn’t been released, but you can look at screen captures of it. Be ready to read a while. Vista is coming in six flavors, two of which are…

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Markey’s sells off sales unit: Move by audio-visual firm creates new tech company

Markey’s Audio Visual, a south-side company that’s decked the stage for some of corporate America’s flashiest meetings and conventions, has sold its equipment sales and integration unit to a new firm owned by a competitor and by a family member. Sensory Technologies is held by Anne and Andy Sellers, principals of Indianapolis-based Video Images LLC-and by Kevin Markey, who headed Markey’s sales and integration. The sale last week, for an undisclosed price, allows the 47-year-old Markey’s to focus on its…

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Irwin to idle failed foray into venture capital: $20 million fund formed during dot-com boom, focused on financial software

Indiana’s sixth-largest venture capital fund is winding down. Founded in 1999, Irwin Ventures LLC is a subsidiary of Columbus-based Irwin Financial Corp. The fund, which in recent years reported assets of $20 million, focused on seed and early-stage investments in startup firms that create financial services software and technology. But Irwin Ventures’ speculative investments didn’t pan out as expected. “Based on the results since inception, this line of business was a financial disaster,” said Ross Demmerle, an analyst with Louisville-based…

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Time switch creating computer nightmare: Technology experts predict change to daylight-saving could be Y2K all over again

If you have an important meeting starting April 2, beware of relying on your computer for a reminder-there’s a fair chance you’ll be late. The state’s first-ever switch to daylight-saving time will leave thousands of computers confused about what time it is, and their users not much better off. PC clocks have to be adjusted just like the cuckoo over the mantle, but if you forget to switch the timezone setting from “Indiana (East)” to “Eastern Time”-or neglect to check…

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Forum Credit Union buys health-care consultant: Financial institution beefing up commercial services

Forum Credit Union, central Indiana’s largest credit union, has acquired Indianapolis-based health-care consulting firm Health Care Economics Inc. And banks are piping mad about it. “It’s part of our effort to meet the needs of what our members have been asking us to do,” said Andrew Mattingly, senior vice president of strategy and marketing for Fishers-based Forum. “They want to put all of their finances together [at one institution].” Health Care Economics primarily serves as a business consultant to medical…

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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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BRIAN WILLIAMS Commentary: Indiana’s life sciences future starts today

Indiana’s life sciences future starts today In 2004, BioCrossroads was awarded a comprehensive grant by the Lumina Foundation for Education to study Indiana’s life sciences K-12 education standing. One of the goals of the study was to find ways to improve student performance in science, math and technology in Indiana at the K-12 level. This study rightly identified an area where meaningful results can be achieved through concerted effort. More important, individuals at Marian College, who recognize the impact of…

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VOICES FROM THE INDUSTRY: Fixed-rate mortgage loans remain a relative bargain

Mortgage lenders have found all sorts of creative ways to get money into the hands of eager buyers, with interestonly, piggy-back and no-doc loans. While these loans have provided opportunities to fund more house than ever, the opportunity to sleep peacefully knowing your payments are locked in place makes fixed-rate mortgages a desirable option for many homeowners these days. Closing gap Even with interest rates inching up, fixed-rate mortgages never looked better compared to adjustable-rate mortgages, or ARMs, and short-term…

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Aprimo gears up for IPO: Acquisitions, internal growth put software firm in position to consider public leap

Fast-growing marketing-software-maker Aprimo Inc. is positioning itself for an initial public offering, likely within the next 18 months. “I think they have big plans in the marketplace,” said Kimberly Collins, senior analyst for Stamford, Conn.-based technology research firm Gartner Inc. “Clearly, Aprimo would like to … file an IPO. I think they want very much to be the next Unica in the marketplace,” referring to a direct rival that went public last August. Founded in 1998, Indianapolis-based Aprimo makes a…

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EYE ON THE PIE: Here’s a recipe for business success

Clovis Crowder did not become a leading Hoosier executive by default. He did not inherit his position. He earned it. A man of rugged countenance, imposing stature and brilliant intellect, he is often mentioned as a candidate for high elected office, but humbly declines all such invitations. Also, he has no ambition to be a university president or a basketball coach. Recently, he and I had the following conversation: MM: “Tell me, Mr. Crowder, what has been the essential feature…

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Indiana’s universities give industry a boost: State touts wealth of higher-ed insurance programs

Politicians seem so much more 21st century when they talk about attracting life sciences and information technology jobs to Indiana. But they’re not about to ignore the state’s second-largest employer-the often-overlooked insurance industry. Indiana insurers employ more than 60,000 Hoosiers, second only to farming, and pay an average annual salary of $47,500, nearly $10,000 more than the state average, according to a 2004 study by Purdue University. Moreover, the industry boasts some of the state’s largest public and private companies-WellPoint…

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RETURN ON TECHNOLOGY: Is too much news leaving you woozy these days?

When it comes to news, there are two kinds of consumers: the “E.F. Hutton people” and the “cocktail party people.” E.F. Huttoners have it easy. Cocktail partiers are only now getting some help making their lives more manageable. Years ago, E.F. Hutton ran a series of commercials that would always take place in a crowded spot, like a restaurant or plaza. One actor would be talking about his investment advice and preface it with, “Well, my broker is E.F. Hutton,…

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Making the grade: Pay-for-performance system nearing reality for local physicians

Central Indiana stands on the leading edge of a national push by health care insurance systems to link doctors’ pay with their performance. The Indiana Health Information Exchange-a not-for-profit collaboration among some of the state’s largest health care providers-is developing a program that uses data collected from insurers and care providers to produce quality reports. Those reports then will be sent to doctors and used by the insurers to develop incentive programs for reimbursement. The goal: Start a system by…

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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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