A publication of
JANUARY 2014
Up-and-coming Fun events just part of mission for CYP
JANUARY 2014 The Business Connection 1
2 The Business Connection JANUARY 2014
Contents
Also inside
On the cover
Chamber Connection . . . . . . . . . . . . . . . . . . . . .12
Clockwise from left are Zach Greiner, Manohar Balapa, Dylan Merriman, Rebecca Pebley and Ashley Readling at Columbus Young Professionals’ ugly sweater party. Photo by April Knox. Story page 8.
Mark McNulty column . . . . . . . . . . . . . . . . . . . . 16 On the Move . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20 Business Leads . . . . . . . . . . . . . . . . . . . . . . . . . . . 21 Morton Marcus column . . . . . . . . . . . . . . . . . . 22 Veneer company page 4
Business Indicators . . . . . . . . . . . . . . . . . . . . . . . 22 Comments should be sent to Doug Showalter, The Republic, 333 Second St., Columbus, IN 47201 or call 812-379-5625 or dshowalter@therepublic. com. Advertising information: Call 812-379-5652. ©2014 by Home News Enterprises. All rights reserved. Reproduction of stories, photographs and advertisements without permission is prohibited.
Braced for growth page 14
Around the Watercooler page 18
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JANUARY 2014 The Business Connection 3
Any way you slice it Renaissance Specialty Veneer Products finds the right wood for every application By Barney Quick n photos by Greg Jones
R
enaissance Specialty Veneer Products is another example of a Columbus-based firm with a small crew operating from a moderately sized building on the city’s edge that is global in the scope of its operations. RSVP’s supplier base spans several continents, and it sells its products throughout North America. A stroll through the company’s warehouse with co-owner and account manager Ben Clift drives that point home. He lifts a sheet of figured bubinga, a wood originating in Africa. “We bought it in Germany,” he says. “There’s a lot of trading done in the veneer business.” Nearby is a stack of koa, a Hawaiian wood used in wall paneling and musical instruments. He speaks of a eucalyptus supplier in Uruguay who grows the trees “like corn. Then he thins out the rows.” The basic work flow for a company like RSVP consists of buying logs, having them sliced to RSVP specifications at a mill and then selling the resulting sheets. RSVP has a sales staff and offices in Chicago and central Pennsylvania in addition to its Columbus
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Opposite page top: RSVP owners Jerome Jacquard, left, and Ben Clift stand in the main warehouse in front of an open pallet of santos rosewood veneer. Opposite page bottom left: This walnut sunburst hangs in the showroom. It has been featured in trade publications and was given to Jacquard by the widow of John Gruenwald, former president of the David R. Webb Co. and an industry leader. Opposite page bottom right: A pair of sapele pommelle veneer leaves laid together in a bookmatch pattern. Left: A pallet of Lyptus veneer sits in the warehouse. Bottom: All pallets are wrapped in black plastic to protect the veneers from light and loss of moisture.
headquarters. Marketing and finding customers mainly consist of distributing a newsletter, participation in trade shows and an Internet presence. “The industry isn’t all that big,” says Clift. “People tend to know each other. There’s a constant flurry of information about who is doing what, such as merging or going out of business.” He notes that the industry used to be bigger: “In the early 1970s, there were around 50 veneer mills in the US. Now there are about 15.” That’s also true of RSVP’s own staff size. Before the housing downturn, it consisted of 30 employees, and now it’s down to around 20. Clift cites the weakness of the dollar vis-a-vis the euro as having a major impact on business: “When we look at buying in Europe, if the exchange rate drops before an invoice is due, we’re in the driver’s seat, but if it goes the other way, it puts extra pressure on our sales people.” Jerome Jacquard, also a co-owner and account manager, observes that “with transportation and communication occurring ever faster, it’s easy for activity to follow cheap labor. That’s kind of what we’re up against. I’d say the biggest change in our industry in the last 15 years has been the Internet.” One way this has played itself out is the deepening involvement of China. “They used to come here and buy veneer,” says Clift. “Now, they come here and buy logs, or send our veneer back as furniture.” One way the company maintains a competitive footing is achieving certification by the Forest Stewardship Council, a group founded in 1993 that sets standards for responsible forest management. FSC JANUARY 2014 The Business Connection 5
certification is stringent, involving the entire chain of custody for a given wood product. A particular type of eucalyptus, brand-named Red Grandis by Urufor, the Uruguayan company that grows it, requires the FSC’s highest level of certification. RSVP is the sole U.S. supplier. Red Grandis, known for its ability to withstand a variety of weather conditions, is used for windows, doors, cabinets and moldings. The tagging system used in the RSVP warehouse ensures that the sequence of sheets in a stack of veneer is traceable to the cutting of the logs. Flipping through a stack indicates a great deal about a particular tree — its layers and textures. Matching the leaves, as veneer sheets are known, from a given log section, or flitch, for particular aesthetic effects can be done a number of ways. Book matching results in mirror images of wood grain patterns being placed side by side. Slip matching makes for repeating patterns across a panel. Balance matching, center matching and butt matching each result in particular types of patterns based on placement of the leaves as well as considerations such as leaf width. RSVP belongs to both the Hardwood Plywood and Veneer Association and the Architectural Woodwork Institute. Both organizations are good resources for staying abreast of trends and practices that are at the
Right: Account manager Scott Wright displays black limba veneer. Bottom left and right: The kitchen of Ben and Cami Clift features bubinga and cherry cabinets. Opposite page top: Bird’s-eye maple veneer. Opposite page bottom: RSVP has a fleet of trucks to enable same-day delivery in surrounding states.
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Truly
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forefront of the industry’s advancement. The company was founded in 2004. It gradually moved operations from its former location on Indianapolis Road to its present site on County Road 50W south of Columbus, with administrative facilities completing the move in December 2012. Both Clift and Jacquard are native Hoosiers, from southeast Indiana and Bloomington, respectively. “I went to David R. Webb for a summer job while I was going to Purdue and fell in love with the industry,” says Clift. They seem somewhat wistful when discussing the present state of their chosen field. “Unfortunately, not a lot of young people are going into this business,” notes Clift. “The opportunities are not like they were when we were young.” He says that “qualities that would serve someone well in the veneer field would include computer skills and a love of the natural product.” They still have veneer work in their blood. “You meet a lot of interesting people in this business,” says Jacquard. Adds Clift, “It’s somewhat artistic. Trees are like people; no two are alike.”
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JANUARY 2014 The Business Connection 7
CYP 2.0
Young professionals group goes in new direction to connect with the community By Barney Quick photos by Carla Clark, Greg jones and April Knox
C
olumbus Young Professionals is “hitting its second stride,” according to President Zach Greiner. The group had briefly been under an umbrella also encompassing two other local organizations, but recently struck out on its own again. It is reassessing its role in the community, as well as some of its internal functions. There are nearly 100 members of CYP. “Our definition of ‘young’ is under 40,” says Greiner. He says that the target group is the 20-to-40 age bracket. “The question of defining a young professional always comes up when we’re doing strategic planning. The image is that of a suit and tie, but the reality includes artists and skilled tradespeople.” The majority of members are out-of-towners who have moved to Columbus for a job. “I think there’s a lot of comfort in finding events like ours, where there’s a shared experience of the city,” Greiner observes. CYP is emerging from a period during which it shared administrative resources with Leadership Bartholomew County and the Columbus Area Multi-Ethnic Organization. “There was only one paid person, and the rest were volunteers,”
Zach Greiner is president of Columbus Young Professionals.
Cheryl Wright and Kristin Munn listen as Laura Garrett talks about obesity trends during a Columbus Young Professionals meeting. 8 The Business Connection JANUARY 2014
explains Greiner. He says that regaining autonomy has allowed CYP to focus on its own structure, which includes three committees and a 13-member board. “There is no overlap on the board,” says Greiner, a business banker at MainSource. “Everybody works for a different company.” The three committees are life, community and careers. They are, respectively, concerned with social interaction opportunities, volunteering and leadership development. The life committee is perhaps best known for its Third Thursday program, a once-a-month, after-work gettogether at a local restaurant. “Even nonmembers like to dip their toes in that,” says Greiner. The community committee is excited about Ignite, a project designed to enlist the local arts community as well as a broad cross-section of citizens. It’s basically a two-tiered contest, one for art’s role in the city’s life, and one for wide-ranging ideas about the city’s direction. Ignite is based on a concept called Pecha Kucha, which was devised in Tokyo in 2003. Pecha Kucha has been characterized as “speed geeking” and sometimes by the slogan, “Enlighten us, but make it quick.” Pecha Kucha events are fast-paced forums for sharing ideas. “Chamber of Commerce President Cindy Frey introduced it to us,” Left: Members of Columbus Young Professionals, including Brooke Hawkins, help participants in the Deja Vu Art and Fine Craft Show dismantle and move their displays. Below: CYP members, from left, Cheryl Wright, Brittany Diebolt and Ashley Readling also assisted at the event.
JANUARY 2014 The Business Connection 9
Drew Wyant, center, talks with a group of friends during the Columbus Young Professionals’ ugly sweater party.
says Greiner. “We’re taking that concept and applying it to fostering change in Columbus.” Ignite will be held from 7 to 9 p.m. May 2. The location is pending. Prizes will be offered for the best general community development idea and the best artist’s presentation. “The forum for the artists will be a PowerPoint presentation,” explains Greiner. “There won’t be a whole lot of restrictions. Each artist will get 20 seconds per slide, so they’ll have to put a good flow of conversation into it.” Aspects of the event such as themes and the nature of the prizes are yet to be determined. The first step will be to solicit and receive submissions in both categories. CYP will then form a screening committee and select judges. “I think there are a lot of great ideas in Columbus,” says Greiner. “The key is finding the people who have them.” CYP, in conjunction with The Republic, also bestows annual 20 Under 40 Awards. They recognize those in the CYP age range who are demonstrating leadership in their career fields and the community. City residents submit one-page nomination letters that are reviewed by a selection committee. The awards ceremony is part of CYP’s annual meeting. CYP takes part in a number of volunteer-driven events in Columbus. At Christmas, it helps with the Firemen’s Cheer Fund, which raises money for toys, food and clothing for the area’s underprivileged children. In October,
Brennan Rotert, left, and Jenifer Slabaugh display their Christmas finery.
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it holds a pumpkin-carving contest, the results of which are displayed at Night of a Thousand Jacks, a fundraiser for Advocates for Children. CYP also has served beverages at the Ethnic Expo beer garden, donating the proceeds to Eastside Community Center. CYP’s Young Professionals Network is another monthly get-together, in this case on fourth Tuesdays at lunchtime. Attendees hear from guest speakers representing local organizations. Recent speakers have updated the network on the Columbus Area Chamber of Commerce, United Way of Bartholomew County and the city’s arts district. Greiner sees CYP’s return to stand-alone status as an opportunity to redefine its mission. “In our strategic planning sessions, we sense that we are moving toward a role as a forum for getting young professionals connected,” he says. The board is also examining ways to make membership easier. “Funding right now comes from annual dues, but we’re looking at possible changes in that structure,” Greiner says. The reason for this push is to ensure that CYP has a distinct identity among the city’s civic organizations. Greiner feels that, due to the demographic conveyed by its name, it is distinguished by an inclination toward outside-the-box thinking. “Two unique things about us are our uncommon way of addressing issues and not having set ways of making decisions.”
Ryan Hou, founder of LHP Software, was the keynote speaker at the 2013 20 Under 40 Awards.
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JANUARY 2014 The Business Connection 11
chamberc January 2014
Monthly publication of the Columbus Area Chamber of Commerc
From the president
The experts agree: There’s reason for optimism in 2014 In early November, a panel of qualified experts shared predictions on what we can expect from the global, national, state and local economies in the coming year. The setting was the Indiana University Economic Outlook Cindy Frey Breakfast, held at Columbus Learning Center in partnership with Indiana University Purdue University Columbus. According to these specialists, while growth will likely be slow, there is some good news. The global outlook was delivered by Ellie Mafi-Kreft, an assistant professor of economics and public policy at IU. She predicts the global economy will strengthen in 2014, with GDP expected to rise by nearly 4 percent, up from 2.9 percent in 2013. Charles A. Trzcinka, a finance professor at the Kelley School of Business at IU, reported on the nation’s financial future, noting the U.S. economy should achieve a modest 1.7 percent total growth
12 The Business Connection JANUARY 2014
by the end of 2013. During the first half of 2014 Trzcinka forecasts the same growth rate, but said if Congress can resolve federal budget and debt ceiling issues, overall growth could reach 3 percent by the end of 2014. Theresa Williams, director of IU’s Center for Education and Research in Retailing, provided a state forecast. She forecasts unemployment to close at 6.8 percent in 2014, down from 8.1 percent in 2013. Full employment, according to Williams, should be reached in 2016 with a 5.5 percent overall unemployment rate. At the local level, IUPUC assistant professor Ryan M. Brewer told attendees that despite global economic and national political risks, the greater Columbus area can expect modest, slow growth in 2014. He added that leading indicators, including Columbus housing permits, home sales and home prices, have trended upward since 2008 as new jobs were added, creating demand in an era of historically low mortgage rates. The growth in the city’s gross domestic product
rate exceeds that of both Indiana and the nation, he added. “Over the past 12 months, a number of Columbus firms have announced the launch of new products and services, new business ventures, record sales and plans for expansion. The total equity returns of these enterprises have performed very well, with companies including Cummins, Sunright America, Toyota and LHP reporting banner years in terms of revenue,” Brewer said. He concluded by saying that a continued focus on local development, a cooperative synergy among municipal and business leaders, and continued emphasis on intangible assets, including a well-educated populace that values productivity, teamwork and a spirit of volunteerism, will all facilitate moderate growth in greater Columbus in the new year. Again this year the Chamber of Commerce board and staff are committed to expanding a healthy local economy and developing a more vibrant community in which businesses and people can thrive.
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Jan. 10 — TEN Talk, 8 to 9:30 a.m., Columbus Area Visitors Center Jan. 27 — Third House Session, 7:30 to 8:30 a.m., Columbus City Hall
Third House Sessions begin
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The Columbus Area Chamber of Commerce’s annual Third House Sessions will begin at 7:30 a.m. Monday, Jan. 27, at City Hall, 123 Washington St. These sessions are open and free to the public. The Third House Sessions provide an outstanding opportunity to meet the legislators who represent you and your businesses during the legislative session. The sessions will be held each Monday morning through March 10. Sessions are canceled if Bartholomew Consolidated School Corp. cancels classes.
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JANUARY 2014 The Business Connection 13
Carmel firm’s ankle brace a good fit for Manning By Anthony Schoettle n Indianapolis Business Journal
C
armel entrepreneur Rick Peters is a devoted Indianapolis Colts fan, but he jumped out of his living room recliner on the evening of Nov. 13 when he saw an ESPN report on Denver Broncos quarterback Peyton Manning’s bad ankle. Manning hurt the ankle in a loss — ironically at Indianapolis — on Oct. 20 and had aggravated it so badly in the subsequent two games that there were whispers the future Hall-of-Famer might miss the Nov. 17 game against division rival Kansas City. Standing in front of his television, Peters, founder of Carmel-based Ultra Athlete LLC — a small manufacturing firm with a growing reputation for state-of-the-art ankle braces — figured he could do for Manning what he had done for numerous athletes before. So the next morning, a Thursday, Peters took one of his company’s newest ankle braces, the Ultra CTS — which had just hit the market in January — and popped it in a FedEx box to Denver’s head trainer without so much as a phone call.
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The CTS, Peters told the Indianapolis Business Journal, was perfect for Manning’s high ankle sprain. Not only does it extend high up on the ankle, it is designed to be lighter and less bulky while at the same time offering more support than other braces, Peters explained, adding that the user’s body heat molds the specially developed resin to the leg and foot. “It offers support, but also allows an athlete to retain his mobility, and that’s key,” Peters said. “Once it molds to your lower leg, it’s very comfortable.” Peters figured his brace would arrive in Denver on Friday, just in time for Manning, a former Colt, to give it a two-day test spin before Sunday’s crucial game. That Sunday, when NBC’s cameras zoomed in on Manning’s lower leg, Peters immediately noticed his newest creation, made especially for acute injuries, nestled around Manning’s right ankle and wrapped under a layer of athletic tape. It was sweet satisfaction for the 53-year-old inventor who’s spent the last 30 years designing and developing ankle braces.
“It’s strong validation for all the hard work and the thousands and thousands of decisions you have to make during design and development,” Peters said. “To see one of the greatest athletes on one of the world’s biggest stages wearing your product is pretty fulfilling.” Manning also wore the brace in Denver’s matchup at New England on Nov. 24. Peters thinks his invention could have a profound impact on the Broncos’ season. “I know that injury,” said Peters, an Indiana State University graduate and a certified athletic trainer. “I don’t think he could have played without that brace.” While Peters was thrilled Manning chose to use the unsolicited gift from Ultra Athlete, he wasn’t necessarily surprised. “That’s what we do. We help athletes — from youth to pro — prevent, recover from and play through ankle injuries,” Peters said. “So why not Peyton Manning?” Recent sales for Peters’ 15-year-old company seem to back up his claims. Ultra Athlete’s sales nearly doubled in 2012 and
Associated press photos
Opposite page: Layers of tape over a brace protect Peyton Manning’s ankle during a game in Denver. Above: With defensive linemen diving at his ankles while also getting to his blind side, Manning is vulnerable to injury.
are up 112 percent through the first nine months of this year compared to the same period a year ago. More than 80 percent of the company’s sales are to athletes, with the other part sold strictly for medical use. Not only are Ultra Athlete’s products designed and developed in Carmel, the injection molding for the plastic shells is done at Noblesvillebased Metro Plastics Technologies Inc., and they are manufactured by Fortville-based Genesis Plastics Welding. “Making the product locally helps us better handle quality control,” Peters said. “Supporting other Indiana companies also feels like the right thing to do.” Peters’ passion for addressing ankle issues goes back to his days as a student trainer at ISU in the early 1980s. “I saw that ankle injuries were one of the most common problems for all athletes,” Peters said. “The old lace-up ankle braces were such an old technology, and a lot of times, they were simply ineffective.” Working with a Terre Haute-area high school as part of an ISU class, Peters used a jigsaw to fashion his first ankle brace from parts of a McDonald’s food tray and other items commonly found in a training room.
Peters patented his first ankle brace in 1984, revolutionizing the industry by adding a hinge to traditional stirrup braces for greater mobility. In 1989, he founded Active Ankle Systems. “The ankle brace technology basically hadn’t changed for 100 years,” said Ned Shannon, University of Indianapolis head athletic trainer. “Rick changed all that. He moved the ankle brace ahead light years. His products allow athletes who would otherwise be sidelined to get back in the game.” Peters, who now holds 18 patents, left Active Ankle in 1996 because he said investors behind the operation wanted to diversify into other types of braces and products. Active Ankle Systems, which is now owned by Kansas-based Cramer Products Inc., remains a market leader in braces. In 1998, Peters founded Athlete Protection Gear LLC, which changed its name to Ultra Athlete LLC in 2001 and began marketing products under the Ultra Ankle brand. Peters buried himself in research and development for several years. Slowly, he built a mostly Midwestern distribution network and began to gain a following with athletes from the grass-roots level to major colleges and even some professionals. His customer base grew to include athletes from almost every see ankle on page 17
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coach’s corner
Mark McNulty
Getting your team above the line for greater results If you are like many entrepreneurs, as your business has grown, the demands on your time have grown with it. As you gain new customers, you personally get busier, and you never seem to have enough time to get everything done. You look for things to hand off to members of your team, but you can never find enough to give them, or it will take longer to explain it than to just do it yourself. Besides, nobody can do it as well as you can anyway. Does this sound familiar? If it does, then your future growth will be limited by your personal capacity until you learn how to unleash the power of your team. By understanding the six simple phases of behaviors that people go through in the workplace, you can put a plan in place to teach your team the behaviors and attitudes necessary to contribute in new and bigger ways, and become more comfortable delegating to them at the same time. The bottom line is that if you feel that you cannot delegate important tasks to your team, it is your fault for not preparing them properly. When I talk about behaviors, I always reference the “line in the sand,” which is the line below which behaviors need to be redirected, and above which behaviors need to be reinforced. You will notice that I said redirected, not corrected. When we correct people, we create tension and animosity; when we redirect people, we defuse tension and create opportunity. If you want to know more about redirecting, read “Whale Done!” by Ken Blanchard. I look at behaviors on a 6 point scale, ranging from -3 to +3, with that mythical line drawn at the zero point. You need to assess where your team members are and focus on moving them up the scale one step at a time. While we want everyone to be a +3 as quickly as possible, making behavioral
16 The Business Connection JANUARY 2014
improvements is a step-by-step process that will take time. The six phases of behavior are: -3 Denial, -2 Excuses, -1 Blame, +1 Responsibility, +2 Accountability, +3 Ownership. Listen and watch your team, and learn where they are on this scale and plan improvements to get each of them up one point on the scale every three to six months. Let’s take a look at what each phase is all about. Denial – This is the most basic of bad behaviors that companies tolerate without firing people. Employees in denial simply refuse to even acknowledge there is a problem. The No. 1 reason for this is a lack of trust in others. The key to moving an employee from Denial to Excuses is establishing a level of trust. They have to know they won’t get fired or demoted if they acknowledge the situation. Excuses – Also known as “Reasons,” employees at the excuse level are beginning to acknowledge that things may not be completely right, but are still trying to make the case that the problems really aren’t as big a deal due to circumstances. At this stage, employees tend to focus on surface level symptoms instead of underlying problems. The key to moving an employee from Excuses to Blame is getting them to acknowledge the underlying problems instead of the symptoms they can explain away. Blame – At this level, employees are now fully acknowledging there are real problems that need to be solved. They just don’t want to be viewed as the source of the problem. The key to moving from Blame to Responsibility is teaching them that it doesn’t matter who did what right now, it only matters that the actions to resolve the problem are identified and carried out. Responsibility – At the responsibility level, employees are focused on performing the actions required of them, responding
to challenges as they arise by doing what they believe is their part. They are not yet feeling accountable for the results of their actions, allowing them to insulate themselves somewhat from the actual end results. At this stage you can delegate tasks to complete, but you retain accountability for the results. The key to moving from Responsibility to Accountability is teaching them to focus on the desired results, which also means you will need to teach them and share with them the results you seek for your clients and your business. Accountability – Now your team is focused on getting the desired results and working together to figure out the actions required to achieve them. The team is problem solving and assigning responsibility for actions necessary to solve problems. They are not yet being proactive to prevent problems in the first place. At this stage you can delegate accountability for results in addition to responsibility for tasks, but you must do so with an explicit agreement on the results you seek. The key to moving them from Accountability to Ownership is empowering them to make decisions about their part of the business and how to meet their customers’ needs. Ownership – At this level, the team is selfmanaging and actively involved in strategic planning for their areas, developing proactive plans to not just solve problems but to prevent them from happening by anticipating customer and company needs. Employees at this level are engaged in conversations about the company at all levels and understand how all the pieces fit together to benefit the employees, the customers and your business. Mark McNulty is a business coach with ActionCoach Business Coaching. He can be reached at 372-7377 or mark@coachmark.biz.
ankle continued from page 15 Indiana college and high-profile national programs, such as the Louisiana State University football team and the University of Connecticut women’s basketball team. On the professional level, members of the Tennessee Titans, Indianapolis Colts and Detroit Lions began to use Ultra Ankle products. “I never know where they’re going to turn up,” Peters said. “Peyton Manning is our most highprofile user so far. LeBron James hasn’t used our brace — yet.” While the company has begun to score more high-profile clients and exposure, there also have been changes behind the scenes. In November 2012, the company brought in a handful of new investors from Indiana, Ohio and Illinois. Several employees were added, bulking the staff up to seven (not including outsourced manufacturing) with plans to double to 14 in the next year. Notably, Tom Vanneman, 57, was hired last year as CEO. Vanneman is a serial entrepreneur who has assisted several successful early-stage private and public companies, including Acordia, Software Artistry and Escient Technologies. Vanneman said his top priorities are to develop distribution channels on the East and West coasts
and help grow the staff. He thinks if he can achieve his objectives, Ultra Athlete sales could increase up to 110 percent in 2014. Ultra Athlete’s products are currently sold through three channels: catalogs, the company’s website and distributors who sell directly to teams. Mass retailers do not sell the products, Vanneman said, because they would want a lower wholesale price than is possible. As sales ramp up, though, that could become a possibility. Ultra Athlete markets three models: the Ultra Zoom, which is made for prevention and sells for $44.95; the Ultra High-5, which is for chronic ankle instability and recovering athletes and sells for $59.95; and the Ultra CTS, which sells for $119.95. After only 10 months on the market, the CTS — the brace Manning is using — already accounts for 25 percent of the firm’s revenue this year. The annual U.S. market for ankle braces is $300 million — and the world market is double that, according to Maryland-based research firm Frost & Sullivan. The ankle-brace product category ranks second only to knee bracing in overall annual revenue and is the second-fastest-growing product in the brace category in the United States — 4.8 percent annually — behind only neck and back braces, according to Frost & Sullivan.
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JANUARY 2014 The Business Connection 17
Around the WATERCOOLER Mainsource opens in hope
The Hope branch of MainSource bank opened at 8475 N. State Road 9, Hope, formerly the location of the Old National Bank office. MainSource is based in Greensburg and currently operates four full-service offices in Bartholomew County as well as offices in Shelby, Johnson and Decatur counties. MainSource purchased some Old National Assets, including the Hope branch, in September.
Holiday inn express receives newcomer award
Holiday Inn Express & Suites Columbus/ Edinburgh recently received the 2013 Newcomer Award from InterContinental Hotels Group, recognizing it as one of the 10 best properties to join the IHG system in the past year, either as a new development or a conversion property. The hotel is one of 11 owned and operated by Sprague Co. Hotel Developers in Indiana and is currently ranked fourth among approximately 2,800 Holiday Inn Express hotels worldwide. Janeen and Nick Sprague, Andrea Stewart and Farrah Carr received the award at the recent IHG Americas Investors & Leadership Conference in Las Vegas.
Historic building for sale
SEYMOUR — The Knights of Pythias building is the latest focus of efforts by Seymour Main Street to attract and retain businesses in the city’s historic downtown. “Our mission is to improve one block at a time,” group Vice President Mary Ann Pardieck told The Tribune. The Knights of Pythias building was erected in 1892 and initially housed a men’s clothing store along with the lodge for the fraternal organization. Seymour Main Street now owns the building and plans to sell the three-story structure once work is completed. The building’s stained-glass windows, which were imported from Europe and hold round, 18 The Business Connection JANUARY 2014
From left, Chief Operating Officer Andrea Stewart, General Manager Farrah Carr, owner Janeen Sprague and Marketing and Technology Director Nick Sprague of Sprague Co. Hotel Developers. blue, faceted jewels, have been refurbished and reinstalled. Other improvements in the two-year, $125,000 project include a new restroom, a new roof, updated doors and lighting and the removal of paneling and flooring. Pardieck said the work is nearing completion and the property should be on the market soon. She hopes to see it become the home of a restaurant and loft apartments or a mixed use of retail and office space. “We’re going to sell it, and hopefully a new business will be here for the historic downtown,” Pardieck said. “Whatever (storefront) the retail goes in, we are happy to have it.”
Salin chooses Data Cave
Salin Bank and Trust Co. has selected Columbus-based Data Cave as its new co-location provider. Data Cave will serve as the primary data center for much of Salin Bank’s critical IT infrastructure.
Pacers get help from Disney
INDIANAPOLIS — The Indiana Pacers are turning to Disney to improve customer service at Bankers Life Fieldhouse. Pacers Chief Operating Officer Rick Fuson and customer loyalty director Sasha Williams have spent three days training at Walt Disney Co.’s Disney Institute in Florida on ways to improve visitors’ experience. The institute will send staff to Indianapolis to train field house workers ranging from ticket takers to security staff. Disney has already worked in Indianapolis during the 2012 Super Bowl. Its sports projects also include the FIFA World Cup soccer tournament in South Africa and work with the Orlando Magic. Indianapolis sports marketer David Morton tells the Indianapolis Business Journal that he expects that adopting a Disney-like approach to visitors will pay off for the Pacers.
Manufacturer moving into former school
HELMSBURG — An old elementary school building Brown County will soon have a new industrial occupant. The old school in the community of Helmsburg had for 20 years housed a sock factory until a 2011 fire damaged one of the auxiliary buildings at the site. That caused the company For Bare Feet to move its 160 workers to a factory in Martinsville. Beamery Group of Whitestown has purchased the school from Brown County for $417,000. That company makes natural timber frames and other construction materials. Beamery Group’s proposal to county officials says it expects to have 25 workers in its first year at the site. That workforce could grow to about 55 workers in the third year.
Audio Source honored
Audio Source, with locations in Columbus and Greenwood, has been included on the list of Top 50 retailers of aftermarket in-vehicle technology businesses compiled by Mobile Electronics magazine. The 50 retailers on the list are now eligible to be named Retailer of the Year.
detergent maker to expand
MERRILLVILLE — A northwestern Indiana company that makes single-load detergent packets for dishwashers and clothes washers is planning to add about 100 workers in the coming 18 months. Merrillville-based MonoSol is in the midst of a $39 million expansion at its LaPorte plant. MonoSol President Scott Bening says the company also is looking for another northwestern Indiana site to build another production facility next year. MonoSol is owned by a Japanese company and is the largest producer of the water-soluble capsules such as Tide Pods. MonoSol executive John Gornto says it expects about 70 percent of the new employees to be for manufacturing positions.
Army urged to reject Peabody permit
INDIANAPOLIS — Two environmental groups want the U.S. Army Corps of Engineers to reject a permit for Peabody Energy Corp. to expand a mine in southwestern Indiana. The Sierra Club and Hoosier Environmental Council say in objections filed with the Army Corps that Peabody hasn’t fully assessed the environmental impacts of the proposed expansion
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of its Somerville surface coal mine. The groups say the project would destroy local streams and worsen water pollution from coal waste runoff. Peabody needs a permit under the Clean Water Act to fill in nearly 16 miles of local streams to open up more than 1,700 acres in Gibson County for strip-mining. Mike Ricketts of the Army Corps says it could take several months to decide on Peabody’s permit.
plant reopening delayed
CAMBRIDGE CITY — A food-processing company says it has pushed back the date for restarting a closed factory in eastern Indiana. Sugar Creek Packing Co. officials say the delay comes because of changes in construction plans for a sewage treatment plant at the former Really Cool Foods plant near Cambridge City. The Washington Court House, Ohio-based company had planned to begin limited production in July but has delayed that until early 2015. Really Cool Foods had about 130 workers when it shut down in 2011, having never come close to its plans for having 1,000 employees. Sugar Creek bought the factory last year and plans to eventually have 400 workers there. — Staff and Wire Reports
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JANUARY 2014 The Business Connection 19
on the move David L. Yount of Franklin has joined the law firm of Deppe Fredbeck & Boll of Columbus and Franklin as an associate attorney. He practices in the firm’s Franklin office. He is a graduate of Hillsdale College and Indiana University School of Law.
David L. Yount
Children’s Hospital in Indianapolis, where she was pediatric chief resident. Dr. Alyssa Lovell of Doctors Park Family Medicine graduated from the University of Iowa, Carver College of Medicine. She completed residencies at Broadlawns Medical Center in Des Moines, Iowa, and Southern Illinois University in Springfield. Dr. Matthew Lovell, an orthopedic surgeon with Southern Indiana Orthopedics, graduated from the University of Iowa, Carver College of Medicine and completed his residency at Southern Illinois University.
Ryan Robinson has been named vice president of marketing and strategic development for SIHO Insurance Services. He comes to SIHO from JA Benefits, based in Bedford, where he worked as a broker/ employee benefits consultant for several years and prior to that was employed in sales with SIHO in the Bloomington market. A graduate of Indiana University, with a degree in management, Robinson is a licensed health, disability and life agent and has extensive experience in small and large group sales, community development and broker relationship development. His new position will involve key product development and creating and leading overall marketing and partnership strategies for continued growth at SIHO. Several physicians joined the medical staff at Columbus Regional Hospital in 2013. Dr. Firas Ghanem, interventional cardiologist with Southern Indiana Heart and Vascular, is a graduate of Tishreen University in Syria and completed a residency at East Carolina University in North Carolina. He also completed a fellowship in interventional cardiology at the University of Alabama and one in cardiovascular disease at Michigan State University. Dr. Degaulle Haile of OB/GYN Associates is a graduate of the University of Illinois College of Medicine and completed his residency at Medical College of Wisconsin. He is board certified in obstetrics and gynecology. Pediatrician Dr. Rachel Kerschner of Columbus Pedicatrics is a graduate of the University of Texas Medical Branch in Galveston, Texas, and completed her residency at St. Vincent Peyton Manning
20 The Business Connection JANUARY 2014
Missy Brodey, a native of Indianapolis, now of Columbus, has been appointed director of marketing and events for Harrison Lake County Club. She is a graduate of Indiana University Kelley School of Business, with a degree in marketing, and has worked in sales and management with Nordstrom, as regional marketing director with Wild Oats and in planning and management of events, including the Super Bowl, while working with a restaurant/ catering business in Indianapolis. Her new position will include building country club membership, promoting its newly renovated banquet facility and working with executive chef Dan Gruden and his staff in their efforts to continue building on the reputation of HLCC food, service and events.
David Abuaf
David Abuaf has joined Forman Investment Services as an investment manager. He is a graduate of the University of Chicago with a bachelor’s degree and a master’s degree in business administration and has more than 10 years of experience in portfolio management and investment research. He previously served as chief investment officer at Hefty Wealth Partners, worked on the foreign exchange currency desk for Republic National Bank, at Bear Stearns, and as a hedge fund research analyst at Morgan Stanley. — Staff Reports
BUSINESS LEADS COMMERCIAL BUILDING PERMITS 4050 CENTRAL AVE NEW COMMERCIAL BUILDING $800,000 BRIAN RUSSELL DEVELOPMENT, OWNER DRIFTWOOD BUILDERS, CONTRACTOR NEW COM BLDG 11620 SF 2223 POSHARD DR COMMERCIAL REMODEL $664,668 COLUMBUS HOSP/COL BEHAV HEALTH, OWNER LEDWINKA, DAN, CONTRACTOR COM/HVAC 2343 N NATIONAL RD COMMERCIAL REMODEL $59,000 LA RAZA PIZZA INC, OWNER BEESON MECHANICAL, CONTRACTOR PIZZA HUT HVAC 3470 W 450 S COMMERCIAL REMODEL $9,101 CIRCLE K, OWNER ROYALTY COMPANIES, CONTRACTOR COM ROOF/CIRCLE K 415 S GLADSTONE AVE NEW COMMERCIAL BUILDING $1,100,000 CASEY’S GENERAL STORE, OWNER LAWRENCE BUILDING CORP., CONTRACTOR NEW CASEY’S GEN STORE 4100 SF 530 PLAZA DR COMMERCIAL REMODEL $275,000 CLOCK, ADAM, OWNER SHAMROCK BUILDERS, CONTRACTOR COM REMODEL 4854 SF 1760 25TH ST COMMERCIAL REMODEL $2,000 DORANTES, JORGE AND BRITTANY, OWNER/CONTRACTOR TORTILLARIA/REM 301 WASHINGTON ST COMMERCIAL REMODEL
November
$300,000 CUMMINS, INC, OWNER TAYLOR BUILDING CORP, CONTRACTOR ROOF REPLACEMENT
2130 LAKECREST DR $171,400 3638 SF 2ST/RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR
2800 WILD ORCHID WAY $250,000 NEW 4434 SF RES/BMT/FAR PHILLIPS DEVELOPMENT INC, OWNER/CONTRACTOR
635 S MAPLETON ST FOUNDATION ONLY $0 CYBERMETRIC, OWNER DUNLAP GENERAL CONTRACTOR, CONTRACTOR CYBERMETRIC ADDN 10900 SF
5301 QUINCY DR $207,000 2985 SF RES/GAR SKAGGS BUILDERS INC
CERTIFICATES TO DO BUSINESS UNDER ASSUMED NAME
2225 CENTRAL AVE COMMERCIAL REMODEL $10,000 WILLMORE, GREG H, OWNER/ CONTRACTOR COM/REMODEL
RESIDENTIAL BUILDING PERMITS 2814 BUTTERCUP CT E $250,000 NEW 4034 SF RES/BMT/GAR PHILLIPS DEVELOPMENT INC, OWNER/CONTRACTOR 5985 CONIFER CT $235,000 NEW 2981 SF RES/GAR WAYMAN, JOE BUILDER. OWNER/ CONTRACTOR 14905 E 300 S $280,000 NEW RES NEWELL, NEAL, OWNER/ CONTRACTOR 15480 E 500 N $95,000 NEW 2295 SF RES FYE, DON & SUSAN, OWNER/ CONTRACTOR
2303 SHADOW BEND DR $137,500 NEW 2549 SF RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR 2174 SHADOW CREEK BLVD $126,000 NEW 2484 SF RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR 2184 SHADOW CREEK BLVD $114,800 NEW 2104 SF RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR 3819 TAYLOR DR $400,000 NEW 4105 SF RES/BMT/GAR SPOON CONSTRUCTION, OWNER/ CONTRACTOR 2830 TRILLIUM WAY $200,000 4441 SF RES/BMT/GAR PHILLIPS DEVELOPMENT INC, OWNER/CONTRACTOR 2850 TRILLIUM WAY $200,000 NEW 4558 SF RES/BMT/GAR PHILLIPS DEVELOPMENT INC, OWNER/CONTRACTOR
2035 LAKECREST DR $164,200 NEW 3527 SF RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR
7220 W GOELLER BLVD $350,000 NEW 4959 SF RES/BMT/GAR VOGT, KENNETH, OWNER SKAGGS BUILDERS INC, CONTRACTOR
2095 LAKECREST DR $149,000 NEW 2909 SF RES/GAR BEAZER HOMES, OWNER/ CONTRACTOR
207 WESTBROOK CT $375,000 NEW RES SPOON CONSTRUCTION, OWNER/ CONTRACTOR
Phillip Roggow, DBA Dancing Goat Coffee LLC, DBA Bike Caffe, retain beverage and food, 4555 Central Ave., Columbus Dwight Grooms, DBA Westside Storage (rental storage space), 3543 Two Mile House Road, Columbus David A. McDowell Jr., DBA McDowell Construction & Design (construction), 3810 31st St., Columbus Stanley Wayne Melton, DBA W&J General Contracting (construction), 321 Jones St., Columbus Bobby England, DBA Bobby England Enterprises (public transportation), 934 California St., Columbus Richard, Luanne and Stephen Maddaloni, DBA L&R Physician Services, DBA E-Psychiatry (medical services), 7873 W. Deaver Road, Columbus Rajul Jain, DBA Jewel Tradition (jewelry), 3696 Sioux Trail, Columbus Gregory S. Simo, DBA Home Real Estate LLC, DBA Roscoe Rentals (real estate), 3129 25th St. PMB 326, Columbus Gregory S. Simo, DBA Home Real Estate LLC, DBA Equity Trust (real estate), 3129 25th St. PMB 326, Columbus William Gray, DBA Columbus East Bowling (high school bowling team), 2614 31st St., Columbus JANUARY 2014 The Business Connection 21
Eye on the pie
Morton Marcus
The devil is in the denominator While most folks have heard of the Terminator, many have forgotten the denominator. That’s the number below the line in a fraction. Fractions seem to have scared lots of folks even though they are all around us. Miles per gallon (mpg) is certainly well-known: miles driven divided by gallons of fuel used. The more miles you drive on a given amount of gas, the higher your mpg. The more gas you use for a given number of miles, the lower your mpg. Why then is another fraction such a mystery? Per capita personal income (PCPI) is simply total personal income (PI) divided by population (POP). The higher the PI for a given POP, the greater the per capita figure (PCPI). The more people (POP) you have for a given PI, the lower your PCPI. Local and state economic development folks like good news, even if it is the result of negative news. When the PCPI figures for 2012 were released recently, Indiana as a state was in the envious position of having the third-highest growth rate in the nation. How did this happen? Our personal income
growth was a stunning fifth-fastest in the country for the year. That was teamed with a 0.3 percent population growth, 37th among the states, and less than half as fast as the United States. The slower the growth in population, the faster the growth in PCPI. How did this play out on the county level? Well, a press release from Wabash County was ecstatic with the news the county’s PCPI grew 6.6 percent, faster than the nation (3.4 percent) and faster than the state (4.9 percent). Neglected in the Wabash chest pounding was that the population of the county declined by 0.6 percent. If your POP declines, your PCPI is boosted. A total of 54 of Indiana’s 92 counties saw POP decreases in 2012, according to the Census Bureau’s input to the PCPI numbers issued by the Bureau of Economic Analysis. PCPI has been recognized by our political leadership as an important, if not vital, measure of economic well-being. However, population decline is hardly the route to a more vital community. LaGrange County demonstrates healthy
growth. In 2012, this northern county, which depends heavily on manufacturing jobs in Elkhart County, ranked second in both PCPI and PI growth, with slow POP growth. Jennings County ranked first among the state’s counties in both PCPI and PI growth, but saw its POP drop during the year. Fast POP growth has a depressing effect on a PCPI increase. Johnson County, for example, had its 6.0 percent growth in PI become 4.7 percent growth in PCPI because of its 1.2 percent POP growth. Ideally, a community wants to see its PCPI grow because its personal income is growing faster than its population. Indiana’s favorable PCPI growth must be evaluated recognizing that 60 percent of our counties are losing population and that growth of personal income, like the growth of population, is becoming more concentrated. Morton Marcus is an independent economist, writer and speaker who can be contacted at mortonjmarcus@yahoo.com.
Business Indicators for Bartholomew County
July 2013
Aug. 2013 Sept. 2013 Oct. 2013
Labor Force % Chg from Year Ago
42,680 42,899 42,432 42,604 2.14% 3.36% 3.58% 2.78%
Employed % Chg from Year Ago
39,963 40,524 40,285 40,410 2.3% 4.3% 4.42% 3.58%
Unemployed % Chg from Year Ago
2,717 2,375 2,147 2,194 -0.18% -10.41% -10.09% -10.05%
Unemployment Rate 6.4 5.5 5.1 5.1 Chg from Year Ago -0.1 -0.9 -0.7 -0.8 — Center for Business and Economic Research, Ball State University 22 The Business Connection JANUARY 2014
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