hamilton county business magazine-december/january 2012

Focus: Banking and Finance

December 2011 • January 2012

Arbuckle’s Railroad Place

Cultural Arts Road Trip

Qualifying for a Bank Loan

Plus...

HC Welcomes Super Bowl fans

North Region Hotel QuarterbackPaul O’Connor and HCCVB DeputyDirector Karen Radcliff sporthandmade Super Scarves

North Region Hotel QuarterbackPaul O’Connor and HCCVB DeputyDirector Karen Radcliff sporthandmade Super Scarves

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December/January

December 2011 • January 2012/Hamilton County Business Magazine4

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Entrepreneur

Ethics

Focus Column/Banking

Marketing Column

Personal Finance Column

The Pitch-In

Dining Out

Chamber Pages

Hamilton County History

Business Resource Directory

Cover photo by Mark Lee, Great Exposures Feat

ures

’11/’12

12 Super Bowl

16 Getting a Bank Loan

Noblesville’s Robert Arbuckle

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19 Cultural Arts Tour

Hamilton County Business Magazine/December 2011 • January 2012 5

Please send news items and photos to [email protected]

Submission does not guarantee publication

Subscription $20/yearTo subscribe or advertise, contact Mike Corbett at

[email protected] 2011/2012 Hamilton County Media Group.

All rights reserved.

Creative DirectorMelanie Malone ~ [email protected]

CorrespondentsDeb Buehler ~ [email protected]

Jeff Curts ~ [email protected] Demaree ~ [email protected]

Stephanie Carlson Curtis ~ [email protected] Held ~ [email protected]

Chris Owens ~ [email protected]

w w w. h a m i l to n co u n t y b u s i n e s s . co mPublished six times per year by the Hamilton County Media Group

PO Box 502, Noblesville, IN 46061 • 317-774-7747

Editor/PublisherMike Corbett ~ [email protected]

ContributorsEmmett Dulaney DBA ~ [email protected]

David Heighway ~ [email protected] Slaughter ~ [email protected]

J. Michelle Sybesma ~ [email protected] Thompson ~ [email protected]

Dr. Charles Waldo ~ [email protected] J. Wilhelm PhD ~ [email protected]

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Reflections from the campaign trail

My political campaign is behind me. In case you missed it, the incumbent mayor beat back my challenge in Noblesville, though many are assuring me that 35% against a Republican incumbent starting from scratch in Hamilton County isn’t bad.

The past four months have been some of the most exciting of my life. I’ve never worked harder but also seldom enjoyed myself more. A political campaign is a real adventure. I learned a lot and grew a bit. Here are a few reflections.

ParanoiaI have a new appreciation for political personalities and why candidates act the way they do. Because each vote is at stake, the need for votes be-comes almost compulsive, and the candidate is always seeking clues as to where each person stands. Every small thing becomes filled with meaning; an unreturned phone call or email carries much more weight when it hap-pens in a campaign. I don’t particularly like that feeling, and I tried hard to guard against it, but it’s a reality on the campaign trail.

The Endless PursuitIn business, we set goals, devise strategies to meet them and execute the plan, with success based on sales or some other metric. It’s a nice, neat package and a time-tested formula. Maybe it’s my inexperience, but dur-ing a campaign, in the absence of metrics except the final one on election day, it’s full speed ahead at all times. I suppose if a candidate can afford to conduct interim polling, he or she might know where they stand mid-campaign. But when you don’t have that kind of information you are always operating on “high” and, well, it’s exhausting. You never know when it’s OK to rest, so you don’t.

Negative CampaigningThis a touchy subject. I stood accused of this in my campaign even though I tried hard to keep the discussion civil. I listened to those who said they weren’t interested in what I thought of my opponent’s record, they only wanted to hear what I would do to improve things. The problem is, my opponent ran on his record, so if I intended to improve things, I had to explain how I would do those things better, which meant I had to address his record. I don’t see how to cleanse a campaign of that sort of rhetoric without making it so sanitary that you avoid discussing important issues.

In the end I think people object to the tone of negative campaigning more than the substance. It doesn’t have to be mean. Questioning an opponent’s


Letter from the Editor/December 2011 • January 2012

Mike CorbettEditor and Publisher

Editor and Publisher


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Thank you to everyone who called, emailed, posted on facebook, wrote a letter or just pulled me aside in support of the effort. It truly was a privilege to run.


Emmett Dulaney

Entrepreneur

A Lesson from the Pumpkin PatchYour power position affects your negotiating ability

Sometimes, concepts seem overly simplis-tic on the paper of a textbook, making it difficult to understand how they would ever apply in the real world. One of the goals of entrepreneurship education is for students to learn that those principles tru-ly do apply and to suffer the consequences while still in school so they won’t be so vulnerable to them after they graduate. Many times, it only takes a simple lesson for it to hit home, such as the case with Michael Porter’s Five Forces Model.

A standard of both management and marketing disciplines, the Five Forces Model identifies five different areas to evaluate for an industry, the goal being to strategize how to have the best hand. One of the five areas is the power of the

supplier. It is unfortunate to find yourself in a position where the supplier of a good you need can dictate terms unfavorable to you. Since that concept is easily under-stood, most business plans just state that the business intends to have more than one supplier so they will never be in a situation where they can’t impose their own terms. That is a lot easier said than done, as students at Anderson University learned this fall.

In October, nineteen students ran a fam-ily fun park, which included a hayride, concessions, games, live music, and a

to get the pumpkins near the stand and drove with them back to the field where there were others to load. Try as they might, it was not possible to safely put that many pumpkins in that type of ve-hicle. It maxed out at around 200, mean-ing that the costs of getting the pumpkins now had to be spread over a smaller quantity, cutting into the profit.When the van was full, and sagging like a teenager’s jeans, the farmer handed them a bill and told them to drive to the cashier. As they were driving, they did the math and found it to be 20% more per pound than the agreed upon price. When brought to the farmer’s attention, his re-sponse was “You should have locked it in.”

The price that existed on Thursday and the price that existed at 7am on Saturday morning went up by 20% at 8am when the van was loaded and the farmer had the power. The choices that existed in that moment were to pay the increased price, or unload all the pumpkins and leave empty handed (a more costly undertak-ing). The supplier genuinely had all the power in the relationship at that moment and a concept that had existed only on paper became a reality that those students suddenly grasped and will never forget.

pumpkin patch. The pumpkin patch was such an integral part of setting the scene for the business that it was advertised in every promotional piece and was includ-ed in a package deal marketed through Groupon (two pumpkins included with admission and games). Not only were the pumpkins used for aesthetics, but they were intended as a profit item as well. Un-fortunately, all the promotion was done in September, before students got the news of a pumpkin shortage.

The shortage raised the price of pump-kins at the wholesale and retail levels and tipped the tables out of favor for the fam-ily fun park. Not purchasing pumpkins was never an option since the promo-tions were already underway and it was important to meet expectations of those who came to the park. The students hit the phones and called around until they found a pumpkin patch on the east side of Indianapolis that agreed to supply a large quantity at a reasonable price per pound compared to what others were charging. Computing gasoline, labor, and other expenses involved with making the pumpkin run, it worked out to be slightly cheaper than buying them locally and would thus be worth the effort. On Thursday, the students arranged with the farmer to purchase and transport the pumpkins on Saturday morning (he said to be there at 8am), and reserved a van. At 7am on Saturday morning, they called to say they were on the way and confirmed the price; he said he would be waiting.

At 8am, they pulled into the farm with the intent of loading a cargo van with 300 pumpkins. The farmer told them not

Emmett Dulaney teaches entrepreneurship and business at Anderson University.

All the promotion was done in Septem-ber, before students got the news of a pumpkin shortage.

More from Porter:Michael Porter’s classic book On Com-petition was updated and expanded in 2008 (ISBN: 978-1422126967). Not many business books have stood the test of time the way this one has and it is well worth the read.


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that others are honest. It is often difficult for subordinates who trust and are loyal to their superiors to think of them as less than hon-est. Subordinates who fall prey to these two heuristics can unwittingly become involved in unethical behavior. They may have felt that they were “just obeying orders” – the classic good Nazi defense. That defense did not work for the war criminals at Nurem-berg and it does not work in courts of law today.

The Importance of ContextWould you prefer to buy a bag of potato chips that are 75% fat free or chips that are labeled 25% fat? In fact, these two bags are identical, but it is the framing of the mes-sage that motivates our likely response – to purchase the bag labeled 75% fat free. Fram-ing can have a profound effect on ethical de-cision making as well because it establishes the context in which truths are articulated and understood. Framing effects have many implications in marketing communication to customers as well as management com-munications to stakeholder groups within and outside a company. A CEO who frames his or her responsibilities solely in terms of maximizing shareholder value may neglect other stakeholder interests such as those of the employees, suppliers, customers and the community.

We’ve all no doubt heard of or used the adage “slippery slope.” This heuristic, called process refers to a process of decision making that engages a person in making a series of smaller incremental decisions that can lead eventually to a more significant outcome that may involve unanticipated unethical results. Reinforced by the social proof heuristic (“everyone is doing it”), an employee may at first participate in a singular incident of petty theft of company property. They may then support another

In my last column I discussed the unethical practice of “wardrobing” (buying an outfit or other non-consumable product, wearing or using it, and then returning it for a full refund). When challenged, wardrobers will often defend their actions with the argu-ment that “everyone is doing it,” and they will actually believe that that rationalization is sufficient to justify their actions.

A psychological influence to dispense with thorough rational analysis is known as a heuristic – preconceived notions or ways of thinking about unknowns. Heuristics serve as guides in the investigation or solution of a problem. The danger of heuristics in ethi-cal decision making is that they can desensi-tize us to important ethical questions.

The heuristic that resulted in the rational-ization by the wardrober in this example is called the theory of social proof wherein clues as to proper behavior are taken from the actions of others. We all no doubt tried to employ the social proof heuristic on our parents when we were younger, most likely with little success. But when employed by adults, it can be a powerful rationalization used to justify bad behavior.

One of the most powerful heuristics in business is obedience to authority. All of us tend to follow authority. As a result, we are much more likely to get involved in unethi-cal behavior when influenced to do so by an authority figure – whether we are aware that the behavior is ethical or not. This blind obedience can be reinforced by the false consensus effect, the tendency to believe

employee involved in petty theft by making false statements about inventory shrink-age. Incidents of petty theft may increase in frequency and in value. Eventually, major thievery may result. The employee who looks the other way when another employee is engaged in company theft is also on the slippery slope process.

Another heuristic that can be dangerous to companies developing new products and their eventual customers is sunk costs and the related phenomenon called escalation of commitment. Managers may fight to main-tain a new product in which much has been invested even after safety issues related to customer use have been detected. The Ford Pinto is a classic example of how sunk costs in a dangerous product resulted not in the product being recalled and fixed, but an es-calated commitment to continue to sell the product while increasing the expenditures in lobbying against revised safety legisla-tion in the automotive industry. The costs in human life, human suffering, and also to Ford’s reputation and bottom line were all devastating. The drug industry is particular-ly susceptible to this heuristic because of the huge sums of capital required in new drug development leading up to final approval. Witness the debacles of the Dalkon Shield, Fen Phen, and Vioxx to name a few.

Justifying Irrational BehaviorCognitive dissonance is the psychological tendency that interferes with rational pro-cessing of information that is counter to our

Insidious Influences: HeuristicsHidden factors that affect your decisions

Bill Wilhelm

Ethics

People detest losses more than they enjoy gains, about twice as much.

Heuristics can de-sensitize us to important ethical questions…


existing beliefs. Once someone has taken a position on an issue they tend to cognitively screen out new evidence that contradicts their position. Related to the confirmation bias in which we seek out evidence that supports our position, the interplay of these psychological manifestations can lead to what can appear as foolhardy or dishon-est positions about complex ethical issues. Could the effects of cognitive dissonance and confirmation bias been instrumental in the downfall of one of the largest U.S. accounting firms, Arthur Andersen in their dogged support of the unethical practices of their client Enron? The evidence would seem to suggest as much.

Loss aversion is a more persuasive heuristic in decision making than the prospect of gain. This irrational behavior in decision making was first uncovered in the work of Daniel Kahneman for which he won the 2002 Nobel Prize in Economics. People de-test losses more than they enjoy gains, about twice as much. Loss aversion is interrelated with the endowment effect, the notion that we value things and attach ourselves to them more than we valued them to begin with. When we own something we begin to value it more than other people do. As Dan Ariely points out in his excellent best seller, Predictably Irrational, “In many transactions why does the owner believe that his possession is worth more than the potential owner is willing to pay? There’s an old saying, ‘One man’s ceiling is another man’s floor.’”

In summary, heuristics can lead people to make irrational decisions and, when combined with personal biases such as the self-serving bias, can result in quite nega-tive outcomes. As shown in example at the beginning of this article about the power of the social proof heuristic, these insidious influences can lead to unethical choices. By becoming aware of these influences we can help minimize their effects. Forewarned is forearmed.

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A Touchdown For Local Tourism


he countdown clock staring at Karen Rad-cliff in her office is starting to come into fo-cus now. What once seemed like an eternity is now first and goal. Super Bowl XLVI (46), scheduled to be played at Lucas Oil Stadium in Indianapolis on February 5, promises to provide both an international stage and economic boost for not just Indianapolis,

but all of Central Indiana and specifically, Hamilton County. Radcliff, Deputy Direc-tor of the Hamilton County Visitor and Convention (HCCVB) the past 16 years, is part of an army of volunteer coordinators who have been anticipating a certain Sunday in February since the game was awarded to the area back in May of 2008.

“It’s been exciting and presents such a unique opportunity to help lead a regional effort of this magnitude,” offered Radcliff,

who co-chairs the Super Celebration Com-mittee, a multi-county promotional effort designed to bring out-of-town visitors and local fans into neighboring communities for a week long party prior to the big game filled with special deals, meals and events at local venues. In Hamilton County, three areas covering more than 80 locations have been designated as Super Celebration sites: the I-69 corridor at exits 3/5, the I-69 corri-dor at exits 10 and into downtown Nobles-ville, and US SR 31 in Carmel and Westfield. “It’s a really cool concept, where we’re working closely to develop a consistent mes-sage with our communities and merchants to ensure similar signage, décor, welcoming information, but still trying to showcase the unique aspects of each community. The lo-cal face of this event isn’t any one particular city, but Hamilton County as an area.”

Regarding the economic impact, Radcliff added, “we currently have around 2,000 hotel rooms contracted throughout the county, and fully expect to be sold out well before February.” The minimum stay for guests is four nights, Thursday-Sunday, which is considered peak time for the super weekend. The game is expected to draw

In Hamilton County, three areas covering more than 80 locations have been designated as Super Celebration sites…

County Rolls out the Welcome Mat for Super Bowl VisitorsStory and photos by Jeff Curts Super Bowl Extra Points:

- While Indianapolis is the smallest city to host the big game, it scores points as being the clos- est in proximity to other NFL franchises, according to Bill Benner, former sportswriter and current volunteer co-chair of the media operations and media relations committee. “Chicago, Detroit, St. Louis, Kansas City, Cincin- nati, Cleveland, Pittsburgh, Nashville and Green Bay are all within a comfortable driving dis- tance to Indianapolis.” “We’re positioning this as the best Super Bowl fans have attended without having a game ticket”.

- The Super Scarf program (see cover) has exceeded expectations. The scarves are souvenirs for volunteers and the Host Com- mittee initially expected about 8000. To date, more than 11,000 have been knitted, crocheted or woven. Volunteers at the Indiana Women’s Prison are sewing on the patches.

- Social media’s presence will be felt as well and local businesses could receive a boost. A Super Bowl app will be available to visitors and the media, with information ranging from maps of the area to restaurant menus and locations to sleep, drink, and shop.

- Dr. Michael Hicks, Director of Bureau of Business Research at Ball State University, conservatively measures the one-time impact of the Super Bowl at $365 million in total economic activity. The game will benefit communities in terms of wages, the value of goods and services sold and in tax receipts and expenditures. Source: http:// cber.iweb.bsu.edu/research/superbowlstudy.pdf


T

SeekingSeeking


13Hamilton County Business Magazine/December 2011 • January 2012

Local banker and Steelers apologist Daniel Hayes gets his game face on.

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and engage the Minority and Women Owned Businesses (MWBE) of opportuni-ties available surrounding Super Bowl XLVI. To date, 26 Hamilton County firms have signed up for the program, and while there are no guarantees regarding contracts or work related to the game, it gives businesses an introduction to potential local partners and exposure to other procurement op-portunities.

While fans, both local and out-of-town, will be directed toward activities such as the NFL Experience and the Super Bowl Village in downtown Indy, many Hamilton County businesses and hospitality entities are ex-pected to be a hub for guests and should re-ceive a considerable spike in business. Count Paul O’Connor, General Manager of the Renaissance Hotel in Carmel, as one of the event’s biggest supporters. “I’m very excited, it’s a feather in the cap of the region to host the Super Bowl and all the ancillary events that come with it,” remarked O’Connor, whose hotel is at capacity for game week. “The fact that Indianapolis is the smallest city to host the game helps compress busi-

ness from downtown to the north end.” He believes the layout will ensure Indianapolis a spot in the annual Super Bowl rotation. Like many area business people with a vested interest, O’Connor has lent a hand in the effort to organize and assist his peers in putting their best foot forward. As a “Hotel Quarterback”, he’ll serve as a liaison to other hotels, providing information on details such as coordinating delivery schedules, employee transportation, snow removal, and other logistics.

Meanwhile, Kevin Ryder, owner of Woody’s Library Restaurant in Carmel, sees the syn-ergy in the hospitality sector and simplifies the game’s potential impact. “Everything’s better when there’s a big event. If the hotels are full, it’s good for business.” Ryder has operated Woody’s for 14 years and is bullish on the area. “It’s an exciting time. An event of this nature and the attention it brings, not just to Indianapolis, but to Hamilton County and Central Indiana, is hard to duplicate. As merchants and as a community, it gives us a real opportunity to showcase ourselves and what we have to offer.” v

Football fans Cathy, Erin, Paige, and Michael Eacret can’t wait for the Super Bowl.

around 150,000 visitors, and with only ap-proximately 20,000 hotel rooms available in Indianapolis, that leaves a lot of room for Hamilton County and nearby areas. The fans demographic profile also inspires local tourism and business leaders. As Radcliff points out, the economic development ben-efits “come not only through spending, but also visitation.” According to data from past Super Bowls, 65% of those who attend the game are key decision-makers within their company, and based on a positive experi-ence, most would consider hosting a busi-ness meeting in the area, and a few would discuss expansion or even establishing a business. While the Indianapolis host com-mittee doesn’t plan to do a study, Dianna Boyce, Director of Communications for the organizing group, adds prior research from host cities have measured the impact of

hosting a Super Bowl game gen-erating between $125 million

to $400 million. Local companies can reap

potential benefits as well through participation

in the NFL’s Emerging Business Program, a

joint effort by the league

and Indianap- olis host committee to inform


ven before you walk through the leaded glass door of Arbuckle’s Railroad Place in Noblesville, the vintage railroad cars let you know you’re in for a unique experience. Inside, gas lights lend a soft glow and old-time ambience, high-lighting a treasure trove of items from past eras—a train bell, an assortment of old tools, a tandem bicycle, a stuffed-animal covered piano advertising “Arbuckle’s Rail-road Place - Free Pretzels & Beer (root).”

The memorabilia is showcased alongside Arbuckle’s tools of the trade—spools of thread, reels of ribbon, fabrics, quilts and sewing machines, antique and new. Every

item has a story. So does 89-year-old Robert Ar-buckle, the heart and soul of the business.

Early yearsArbuckle was born in Leba-non and graduated from Fairmount High School in the early 1940s. It was there that he met Adeline Mart Nall, the drama teacher famous for mentoring James Dean and getting him in front of the cameras. “Adeline Mart Nall had a big influence on my life,” Arbuckle says. “I was very thankful for her guidance in public speaking and acting.”

Cameras figured prominently for Ar-buckle as well—but he was behind them, taking the shots. After graduation he moved to Noblesville where his father, a Purdue graduate, had begun teaching the semester before. Arbuckle recalls that his father bought him a 4 x 5 Speed Graphic camera—“the epitome of a press photogra-pher’s camera. . .back when cameras were as big as automobile batteries and weighed about the same.” He attended a professional

photography school in Winona Lake before setting off to Uptown Chicago to make his name. “I thought I was a hot-shot photog-rapher,” he quips.

World War II tanked that career before it got off the ground. Arbuckle was sworn into the Navy on October 13, 1942 at the Palmer House Hotel, and soon found himself in Cuba, living in a tent and drink-ing out of a blister bag while monitoring German submarine activity. Before long, he was selected to attend officer’s training school, where he earned an engineering degree. Arbuckle never did see combat, but he did take the U.S.S. South Dakota from

By Shari Held ~ Photos by Mark Lee

Arbuckle’s daughter, Sara Carter, works at the shop


San Diego, around the Panama Canal to Philadelphia where the Navy retired it. The Navy didn’t retire him, however.

“When it came time for me to be dis-charged, the Navy said they would put me in the Reserves and call whenever they needed me,” Arbuckle says. “Next year on October 13th I will have served in the Navy, active and reserve, for 70 years. I’m still waiting for that call.”

Putting down roots Arbuckle returned to Noblesville after the war and married his sweetheart, Beverly Pfaff. They had two daughters—Sara, who works with her father, and Linda. At that time, Noblesville’s economy was a mix of industry and agriculture instead of the “service economy” and “bedroom commu-

nity” it is today. “We attract a lot of people into Hamilton County because of our good educational system and because we have the land for expansion,” Arbuckle says. “But, I see the

loss of our industrial base as a tragic thing.”Arbuckle put his engi-neering degree to good use, converting treadle sewing machines to electric machines. In 1948 he opened his first store on the north side of the Square, becom-ing a dealer for the major brands—Pfaff, Necchi, White, Singer and Viking—once new machines became readily available. “I’ve been in the sewing machine business ever since,” he says.

Twelve years later he left the Square—a move precipitated by a one-hour time limit the City placed on parking. Adequate space for loading and unloading trucks was already a challenge, but when the City called Boggs Wrecker Service to tow a customer’s car, that was the last straw. “I said, I got to get out of here,” Arbuckle says. “I bought this place and I have parking for 200 automobiles now. I solved the problem of loading, unloading, parking and traffic, and we also got more square feet and more room to breathe.”

Arbuckle may have taken a roundabout route into the sewing machine business, but he’s had no regrets. “It brings in very creative people,” he says. “People who are making something and are positive in their attitude. That’s been the wonderful part about the business I’m in. It makes for a pleasant lifestyle.”

Going with the flowIn the ‘70s, Arbuckle became an inde-pendent dealer, buying sewing machines from a Japanese family and merchandising them under the Arbuckle name. “I was very proud of what we produced,” he says. “And all our machines were marked ‘from Noblesville, Indiana.’” Business was good, and he expanded into fabrics and notions.

Around that time he also began breeding horses and started a livery business. His horse and carriage rides were sought after for weddings, and the City of Indianapolis tried to hire him to provide carriage rides around the Circle—an offer he refused. “I

had other fish to fry,” he says. Arbuckle did, however, “put on the dog” for Mel Simon’s Indy 500 parties, which were attended by Hollywood movie stars and celebrities. He opted out of the livery business around 1980, but you can still see the harnesses and photos displayed in the store.

Other ventures that came and went include an office machinery department and bottled gas sales. “We’ve just had to go with the flow to stay in business,” Arbuckle says. “And we are still doing it.” He’s pragmatic when it comes to the future of his busi-ness. “It’s disappearing,” he says, noting the decline in home sewing today.

His advice for young entrepreneurs start-ing out in business today: “Marry a woman who’s got lots of money.”

A zest for lifeYou’d think at age 89, Arbuckle might entertain thoughts of slowing down. Not so. He enjoys riding his bike—both for exercise and in local parades. In fact, one section of his shop is devoted to bicycle sales and repair. He’s a big advocate of developing the Midland Trail, which passes right by his place, as a bike and hiking trail, and tying it into the Monon Trail.

Another passion is ballroom dancing. Every Sunday night you’ll find him at the Continental Dance Club on Indy’s west side, where he learned his first dance steps 30 years ago.

But his store is where you’ll find him six days a week. “This is my social life,” he says. “Where could I have more fun that I have right here? They say if you find a job you like, you’ll never have to do a day’s work in your life!” v

Robert Arbuckle

June • July 2011/Hamilton County Business Magazine16 December 2011 • January 2012/Hamilton County Business Magazine16

in Noblesville and Fishers. A Sheridan branch opened in 1990.

While the past five years have been harsh ones in the banking industry, Miller believes that an upside has been a growing trust in community banks. “A community banker knows the business or person well and won’t make a knee-jerk reaction (to a loan application),” she said. “Tons of people have reduced their mortgages with community banks. They can walk in and talk to somebody.”

For businesses, “Now’s the time to try to get long-term fixed rates for loans on long-term assets like your home or buildings,” she advised.

Before making an appointment to apply for the loan or refinancing, however, Miller said a little homework is in order:

Get an assessment of your business plan. Ask an outside accountant or CPA to review and comment on it. If you have a relationship with a banker, ask him or her for an opinion before you start the loan ap-plication process.

Do some self-assessment. Take a thorough and totally honest look at your cash flow. If you’re thinking of expanding, determine what additional income it can generate. Make sure you answer the most important question: Can I make the payments.

Get your financial house in order “Banks will loan money if you have good credit and good collateral,” said Chuck Crow, chairman and CEO of the Hamilton County-based Community Bank. “There’s an opportunity out there to restructure your position.”

A banker for 42 years, Crow is well-versed in how the industry works. He has been actively involved for many of those years in state and national banking associations, often holding leadership positions.

The decision to loan money doesn’t end with the customary handshake in the lending officer’s office. Like the Baileys faced in “It’s A Wonderful Life,” bank examiners regularly investigate an institu-tion’s soundness.

“The bank has to prove to examiners that the decision (to loan money) was a good one,” said Crow, explaining that banks are restricted on the types of investments they can make. They earn their money from high-grade, government-back securities, municipal bonds or higher quality loans.

“Be really truthful with yourself in the pro forma.” a key document for businesses to complete when wanting a loan, he coun-seled, smiling as he adds, “We never see a pro forma say, ‘I’m not going to make it’.”

Use realistic numbers about the cost to expand, the salary and benefits increase for new employees and the size of payment you can make. Consider honestly how much – or how much more -- of your product you’ll be able to sell. You can anticipate questions about this, whether the answer is 1,000 or 10.

“Bankers take a little risk, but can’t take risk all the time,” Crow pointed out. “Who would’ve made a loan to the guy who in-vented the hula-hoop?”

L

Focus: Banking/Finance

Banks are loaning money when you prove you’re credit-worthy

Loosening the purse strings

By Rosalyn Demaree

ocal bankers would like to debunk a myth they hear all too often.

Banks are making loans, they say, although more stringent regulatory oversight and the impact of losses nationwide may make it a little harder to get one now compared to five years ago.

Today’s low interest rates can help busi-nesses lower their cost on interest and may make this the time to refinance loans, said Karen Miller, president and CEO of The Farmers Bank.

“It’s not easier (to get a loan) than it was five to 10 years ago,” Miller explained. “In some cases it could be harder. Banks are a little more particular about which companies they loan to and scrutinize information more.”

But, she points out, that pushback can be good. Answering tough questions about business plans can help businesses, particu-larly start-up ones, find success.

And Miller knows more than a little bit about success. A banker since 1985, she is one of four women running an Indiana-headquartered bank. Under her leadership since 2005, Farmers Bank grew its Hamilton County imprint this year, opening branches


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Look at your collateral to support the loan. Things happen unexpectedly that create problems making loan payments, including health changes, marital situations, an economic downturn or the loss of a job.

“Some bad things happen unfortunately,” he said. “Banks don’t want to be the bad guy. We’ll work with everybody as much as we can as long as there’s cooperation on both sides.” Extending credit and renew-ing the note can be options before collateral is liquidated.

Study your financial history before the bank does. Financial statements, several years of tax returns and an assessment of the value of what you’ve accumulated will be examined before a loan is approved.

This can be the tallest hurdle for young entrepreneurs to overcome because they haven’t had time to accumulate a lot of net worth, Crow said. They often need parents, other relatives and friends to help get them started, and then look at a commercial loan when the business is under way.

He doesn’t say that to discourage start-up business owners. “If you

believe in an idea and are willing to be all in,

roll the dice and try the idea.” SBA loans bridge gaps

Loans from the Small Busi-ness Administration can

help bridge the gap when funds can’t be secured

from banks, relatives or friends.

“The SBA has some exceptional

packages that First Farmers, as well

as other community banks, have been successful in applying to small businesses,” said Tade J. Powell, vice president of First Farmers Bank & Trust, which specializes in commercial and agricultural business loans. He points out, however, that applying for and processing an SBA loan can be a little more complicated and time-consuming than a commercial loan’s timeframe. “Banks that specialize in commercial lending and are well capitalized are still very active in commercial lending; however, the regulato-

ry environment is making the underwriting process much more dependent on current documentation,” he said.

Before going for a loan, self-evaluate busi-ness plans quarterly and have copies of per-tinent records – including profit/loss state-ments, asset/liability schedules, income and property taxes, compensation, and overhead expenses – ready, Powell recommended. That way, the institution better understands the dynamics of your business and how to structure the lending relationship. v


in the business, is also significant. As men-tioned, it is unlikely that a bank will finance 100% of the collateral, so it is expected that you will put some of your own funds into the deal. This shows your commitment to the loan. An owner’s equity versus the debt is strong leverage needed to sustain a busi-ness, especially in a tough economy. External factors, including the state of the economy, potential new bank regulations or possible changes in your life, are also considered.

#5 – Documentation!Be prepared. Normally two or three years of personal and business tax returns are required, along with your interim business financials. Most banks will also like to see a personal financial statement, which can be supplied by your banker. If this is a new business, an extensive business plan is also imperative, as it incorporates all the facets of starting a company. The net worth and cash flow are key indicators of the strength of your business. Other factors reviewed are sales and profitabil-ity trends. These financials will help a banker determine a business’s credit-worthiness.

#6 – Know Your BankerThe economic landscape and new financial regulations have changed underwriting dramatically. Loans that once were getting approved easily are now not. Enhancements such as using the Small Business Administra-tion (SBA) can help improve your case. Find out if your lender is an SBA Preferred Lender, as this can speed up the turnaround time and potentially strengthen the deal. You need your banker to know your business now more than ever and, in turn, you need to have a strong relationship with your banker. This, along with being prepared and understanding what a bank is seeking, will give your business an advantage in the loan decision process.

Courtney LloydQualifying for Bank LoansHere’s what to expect when you submit an application.

funds to continue making existing loan payments, along with the new loan pay-ment. Cash is king, and if your company is not generating enough it is unlikely that the company can afford to add more debt. A bank does not want to put you in a worse condition and, in a sense, set you up to fail. Understand your financial statements and make sure your company has a strong cash flow. Money in the checking account does not always necessarily support this.

#3 – The Case for CollateralWhat assets can you pledge as a source of repayment? Rarely are banks originating unsecured loans, so a lender wants to know

what the secondary source of repayment will be. This can be accounts receivable, inventory, equipment, real estate, etc. Many companies need capital to purchase supplies when new projects are coming in. In this case, the accounts receivable would be collateral in case of default. Banks normally will only use a percentage of the value as collateral.

#4 – The Equity EquationYour down payment, or the equity you have

Your business is growing. More projects are coming in, you need to hire more employees, or you would like to purchase a bigger loca-tion. Whatever the scenario, you have decided that you need some financial help. Before you approach a bank for a loan, here are six tips to help understand how lenders evaluate your application and what you can expect.

#1 – You are one of the most important fac-tors in the decision-making process.This includes your personal credit history and credit score. You are your business, and you are the one paying the company’s debt, so this is a vital indicator in a loan decision. In most cases, you will be asked to personally guarantee the loan. Pull your personal credit report from annualcreditreport.com –review it to make sure there aren’t any errors and that it is up to date. It can take three to four weeks for mistakes to be corrected, so starting early is helpful as you want to be sure that the lender is pulling the accurate report the first time. Also, your managerial expertise and experience are relevant as poor management has been most frequently cited as the reason businesses fail. Highlighting your education and history in the field is beneficial.

#2 – Repaying the Debt.Lenders will determine if the business can generate enough cash and manage those

Focus: Banking/Finance

Courtney Lloyd is a Relationship Manager at STAR Bank. Contact her at [email protected]

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“You can observe a lot by watching.” That Yogi Berra witticism is at the heart of the Cicero Arts and Culture Mobile Workshop. Financed by a Community Conversation Workshop grant from Ball State University and Indiana Humanities, the Cicero Plan Commission invited about 50 people on a day-long road trip to see what similar com-munities are doing to develop their cultural offerings. Here’s a travelogue on the day’s

events and observations from a follow up meeting.

KokomoAlthough Kokomo, the seat of Howard County, is consider-ably larger than Cicero and isn’t a lakefront community, it has made a number of changes to its downtown in the past few years that may be instructive. For instance, it removed 400 parking meters. It replaced traffic signals with stop signs in an effort to slow traffic and make the downtown more pedestrian friendly. It added rain gardens and bike lanes, and used stimulus funds to buy three trolleys. Rid-ership on the free trolley system is about 800/day, 8 times higher than expected.

Cicero group takes to the road in search of ideasStory and photos by Mike Corbett

Landscape

Touring theCultural

Winona LakeAbout forty miles east of Culver, adjacent to the Kosciusko County seat of Warsaw, is the Village At Winona, situated on Winona Lake’s eastern shore. This community has a colorful history of boom and bust cycles. It has long been a hub of evangelical religious gatherings, which at their peak drew hundreds of thou-sands for summertime conferences. Buildings would go up in the boom times, which would then fall to neglect during the busts.

The Cicero tour focused on the efforts of pri-vate developer Brent Wilcoxsen, who arrived during a bust period in the mid 90’s and be-gan developing properties along a canal into a planned unit development of European-style artisans cottages. He now owns 39 residences and businesses in the Village, which he leases to artists seeking showroom space.


CulverMidway between Indianapolis and Chicago, Culver has a smaller population than Cicero in the Winter, but larger in Summer when it grows by about 5000 people. It is in Marshall County and is best known as the home of the Culver Military Academy, which adds nearly a thousand students and faculty to its base town population of 1500. Downtown is on the west shore of Lake Maxinkuckee, the state’s 2nd largest natural lake. Homes around the lake are mostly owned by summer resi-dents from Chicago and Indianapolis, each about 100 miles away. It boasts more than its share of fine dining restaurants, due mostly to its summer residents.

Culver has received a number of grants recently, designated to revitalize the down-town area with new sidewalks, curbs, gutters, street lighting, tree wells and electrical con-duit. Most of the attention was focused on the lakefront, which features an impressive public dock. Left: Group lunch in lakefront pavilion

Right: Galleries at The Village at Winona

Follow upSeveral weeks later, Cicero Plan Commission Director Paul Munoz convened a follow up meeting of tour attendees, local citizens and interest groups. They discussed ideas from the tour and reasons people might want to visit Cicero. They learned about the developing Nickel Plate Arts Trail and train excursions by the Indiana Transportation Museum. The question of the night was: “What would entice passengers to get off the train in Cicero?”

The largest concern among the groups pres-ent was the need for better communication so local residents and visitors alike can be better informed about what’s happening in town. It’s the start of a long process that will help Cicero update its strategic plan, identify its unique attributes and develop them into attractions for both residents and visitors. v


Dark, Milk or White Chocolate Bark,Peanut Clusters, Pecan Logs, Turtles

GoshenOur final stop on the tour was the City of Goshen, population 37,000, seat of Elkhart County in the region known as Michiana along the Michigan-Indiana border. We arrived in time to participate in their First Friday event, which draws 5,000 people in an average month and up to 18,000 in July and January, its two most popular events. The event is sponsored by its Main Street organi-

The Village has launched a number of art initiatives to capitalize on the large artists’ community that has formed over the years. It has established an art commission, launched a Heritage Trail Art project and holds six major art events annually. Wilcoxsen feels the Village has reached a stage where it competes with Disney World for business.

zation, and run by local businesspeople. Most are volunteers, though one receives a stipend for taking the lead organizational role for each event.

Business owners shared their opinions on the reasons behind their First Fridays’ phenom-enal success, and generally agreed that par-ticipation by local merchants is key. They also stressed the importance of having the local municipal government behind them.

Left top and middle: Galleries at The Village at Winona

Left bottom: The Palace Theater in Goshen is owned by a local church and is used for Sunday services.

Below: First Friday in downtown Goshen

Bottom: Cicero bus tourists meet local merchants at a Wine Tasting Room in Goshen

Follow up meeting at Red Bridge Park in Cicero

December 2011 • January 2012/Hamilton County Business Magazine

2) Acts with integrity, is known as a “truth teller,” and takes responsibility for own actions; 3) Adapts to cultural differences whether in a domestic or foreign assignment; 4) Seeks broad business knowledge and wants to understand how his company “fits together;” 5) Is committed to making a positive difference in whatever role he finds himself and can put the organization above self if necessary;6) Brings out the best in people, individually or in teams; 7) Is insightful, is able to see things from new angles and perspectives; 8) Has the courage to take reasonable risks and go against the status quo; 9) Seeks and uses feedback to better own performance; 10) Learns from the inevitable mistakes and doesn’t make the same mistake twice; 11) Is open to and able to handle criticism, and avoids being overly defensive; From Winning by Jack Welch, Ph.D., Harper Collins Books. Welch is the retired Chairman and CEO of General Electric Company, as much known for its talent as its products. While his extra-marital af-fairs may rightly be criticized, Fortune 500 CEO’s regularly rated Welch as their most admired CEO. Boardrooms are different than bedrooms. 1) Integrity.Telling the truth. Being authentic (He takes a lot of personal flak on this one.); 2) Continual learner. High degree of intellectual curiosity; 3) Maturity. Able to stand the heat. Confident but not arrogant; 4) Positive energy. Thrives on action and relishes change. Contagious enthusiasm; 5) Able to energize others. Optimistic, great communicator, concerned about others’ well being;

In the last issue, I suggested employees need to find ways to be regarded by their employer as a “specialty employee” just as my wife and I think of the My Dad’s Sweet Corn brand as a “specialty product.” If you are mentally classified by your employer as a specialty employee, you have so many skills and so much knowledge and experi-ence, coupled with a winning personality, that your employer simply can’t – and won’t -- lose you. So you get paid more, get choicer assignments, get more variety in your work, are far less likely to be laid off in tough times, and move ahead faster.

So, what are those “specialty” features against which you can measure your actual performance? There are literally thousands of books and articles that report the results of both anecdotal and very large studies on the key qualities of “fast trackers.” There are hundreds of individual traits listed in these publications. But, when tallying which

traits are most frequently mentioned, the “10%/90% Rule” holds true: 10% of the total traits are listed in 90% of the studies. Here are the “fast tracker” (aka specialty) traits from two of my favorite books on the subject. While they might seem more appli-cable to managers or technical personnel, for the most part every employee would do well to work by them.

From High Flyers: Developing the Next Gen-eration of Leaders, by Dr. Morgan W. Mc-Call, Jr., Harvard Business School Press. McCall asserts that the specialty employee:1) Continually seeks opportunities to learn and do new things;

6) Edge – The ability to make tough “go” or “no go” decisions in a decisive manner. 7) Execution – Can push through all the inevitable problems and obstacles in any project; 8) Passion – Exhibits authentic excitement about the job and the people doing it; 9) Is able to “see around corners.” Has a “sixth sense” of what is coming, usually gained from experiences, often unhappy ones; 10) Hires, develops and keeps great people. Maintains deep “bench strength.”11) Is resilient and able to bounce back from the inevitable set-backs. “Smarts” and “Smarts” While it is essential that any person want-ing to move ahead in an organization, especially a large, blue chip company, have a fair degree of IQ “smarts” (GPA, SAT, GRE, GMAT, etc.) one doesn’t have to be “Mensa smart” to succeed. When you look at the above factors, it becomes clear most are of the EQ (Emotional Intelligence) type – the “soft side” of managing. In fact, almost all studies of competencies factors found in successful managers show that 80% – 90% are of the EQ type.

Did you assess your day-to-day job per-formance against the above criteria? How did you do? Even if you are not a manager or business owner, these qualities can be developed as an individual contributor. If there are some “holes,” you may want to get and devour the above books. How do you acquire EQ competencies? Just being aware of what they are is a good place to start. Try Dr. Daniel Goleman’s ground-breaking book, Working With Emotional Intelligence.

Dr. Charles Waldo is a retired Professor of Marketing at Anderson University’s Falls School of Business

Are you a Specialty Employee?Experts Agree that Certain Qualities help you Stand Out

Charles Waldo

Marketing

Here are the “fast tracker” (aka specialty) traits from two of my favorite books on the subject.

22

Personal Finance

Saving Taxes through Smart GivingYear End Strategies to Put You in the Holiday Spirit

and donor advised funds don’t qualify. Unless Congress acts, December 31, 2011 will be the last date to take advantage of this.

Asset Worth More than Cost BasisMost of your assets have likely decreased in value recently. But if you have held them for quite a while, they could still be worth more than the price you paid for them or their value when you inherited them.

Transferring an appreciated asset to char-ity—stocks, bonds, real estate, etc—allows you to claim a charitable deduction for the fair market value of the gift and avoid the capital gains tax you would have paid when you sold it. For those in the 25% income tax bracket (who also pay a 15% long-term capital gains rate), that could be a 40% tax savings.

These gifts can be given outright or be used to fund charitable arrangements that can return lifetime income such as a charitable remainder unitrust or charitable gift annuity.

Life InsuranceI recently spoke with a business owner who has a rather common problem. He took out several life insurance policies when his chil-dren were younger. The kids are grown and gone, and the whole life policies are paid up. Keeping them artificially inflates the value of his personal balance sheet and makes it more likely his estate will owe federal estate tax.

We talked about giving one of those policies to charity. He has two options. First, he could retain ownership of the policy and simply change the beneficiary designation. Upon his passing, the charity would receive the proceeds outside of probate, and his taxable estate would be reduced. Second, he could claim an income tax deduction today by mak-

Most people (Warren Buffett excluded) are interested in shrinking their tax bill. Giving to charity is a key way to do that. But you don’t have to write a check. Smart charitable gifts involve giving something other than cash. So whether you are generous or a Grinch, here are some ideas to spark your interest.

IRA Charitable RolloverThose age 70 ½ or older are required to take minimum distributions from individual retirement accounts (IRA). Distributions from traditional IRAs increase your taxable income. Per the Pension Protection Act of 2006, you can make annual charitable distributions up to $100,000 from your IRA, satisfying your mini-mum distribution and excluding the amounts from taxable income.

Imagine a married 73 year-old with a $400,000 regular IRA and adjusted gross income of $70,000. Making her 4.05% required distribu-tion ($16,200) to charity could save her $4,050 in federal income taxes.

This scenario is especially beneficial for those who do not itemize deductions, are already at their deduction limit for the year, are having deductions phased out because

of income, or don’t need to take the minimum distribution for living expenses. Distributions must be made directly to a public charity, such as a university or a community foundation, from the IRA trustee. Private foundations

ing a charity the owner and beneficiary of the policy. He would be making a substantial gift without writing a check.

Savings BondsSeries EE is the most common type of savings bond. Donors purchase these at a discount and owe tax on the accumulated interest when the bond is sold. Unfortunately, gifting Series EE bonds to charity still triggers income tax, but it also qualifies for a tax deduction.

Imagine this: a donor has a Series EE bond with a face value of $10,000. He purchased it years ago for $5,000. If he redeems the bond or gifts it to charity, his income would increase by $5,000 (the accumulated interest income). But his income tax deduction would be $10,000. If he can claim the full amount of the deduction, he would owe no tax on the transaction.

Donor Advised Fund: Your BFFA donor advised fund (DAF) is an alternative to a private foundation. You fund the DAF with assets and receive an immediate income tax deduction. You then have flexibility on the distribution. You can make grants to charities at any time, even years in the future. DAFs enjoy higher tax deduction limits compared to private foundations and don’t require a separate tax return. Utilizing a community foundation to administer your DAF can also enable you to involve your family in giving decisions.

Every Who in Whoville knows how generosity can change the heart of the giver and the receiver. But making non-cash gifts to charity can make you shrewder than the average Who.

Mark Robbins

Mark Robbins is a CPA and vice president of the Legacy Fund. Contact him at [email protected]

Non-cash gifts make you look brilliant.



Notes from all over the county…The Entrepreneurship Advancement Cen-ter recognized several Hamilton County businesses at its first Entrepreneurship Celebration. Teacher Sharon Brimberry (Sheridan) won for outstanding high school entrepreneurship educator, Indy IT Professionals (Fishers) won the emerg-ing business award, Golars (Fishers) the established business award, and Allegient (Indianapolis), the mature business award. NatureNURTURE won the Second An-nual Community Business Plan Competi-tion and received a $15,000 consulting package to help start the business.

The EAC is also administering a new small business loan program called the Small Enterprise Loan Fund (SELF). The fund is targeted at new and existing businesses in rural areas of Hamilton County. Get details from [email protected].

Noblesville’s Ace Hardware is downsizing from more than 15,000 square feet in a stand alone building to a little over 9,000 square feet in the Noblesville Square Shop-ping Center on SR 32. Owners Pat and Allison Deary opened the store five years ago and quickly realized the store was too large. Almost all the inven-tory will fit into the smaller space. The current store will close December 31 and reopen around Feb. 1.

At Carmel City Center, Authentic Sports Collectibles is re-establishing a retail store after first opening at 116th and Range Line 8 years ago. Nature’s Karma is also moving from Clay Terrace. They join 6 retail/service businesses and 4 restaurants in the mixed use development. Periculum Capital is locating its headquarters in the James Building, which houses the Tark-

ington and Studio Theaters. Up the street, the Swanky Abode opened in the Indiana Design Center.

The Indiana Soccer Association will relocate its state offices at Grand Park, Westfield’s planned athletic facility, which is expected to open to some field play next year and be fully operational by 2013. The ISA has 85,000 members state-wide.

Godby Home Furnishings opened its fourth full-line furniture store in the former O’Malia’s grocery store space in Carmel’s Meridian Village Plaza Shopping Center. The Westfield-based retailer closed a clearance store in the same shopping center earlier this year. Godby has stores in Westfield, Noblesville, Carmel and Avon.

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Serving Up the Classics in CiceroJackson Station Café

Dining Out

Story and photos by Chris Owens

consider senti-mental appeal. Waking up on a Saturday to go out for a big plate of biscuits and gravy is enticing because it was almost a weekly ritual for my father and me. Finishing the day with a bowl of homemade soup or a plate of beef Manhattan

reminds me of our family dinner time here in Central Indiana. Visit Jackson Station Café in Cicero and you’ll find a large menu full of similar choices, a great view, friendly staff and a place in which I’ve managed to find some nostalgic favorites.

The familiar site, located just northeast of Morse Reservoir at 400 West Jackson Street, has been home to several restau-rants over the years, but seemingly none with this variety of featured foods on their menu. Jackson Station reopened in June of 2011 under new owners and family busi-ness partners, George Chiamopoulous and his Uncle Nick.

Though owning a restaurant is a new ven-ture for George, he’s been working in them for several years and has vowed to make Jackson Station the best eatery in town. His family of Greek origin was originally from Chicago and George’s parents moved the family to Indiana when Nick decided to open the first of his many establishments in Kokomo. “I’ve just been with him forever. Seven restaurants later I actually own my own now” said George when speaking of his Uncle. This venture is the latest for Nick who owns a number of other restaurants around the area.

The menu at Jackson Station is not short on options. “It’s a wide variety,” according

As the cold weather settles in for another Indiana winter it seems like my thoughts, at least around meals, turn to the classics. Some may call it comfort food, but in my opinion it’s far more than that. M-W.com defines comfort food as “food prepared in a traditional style having a usually nostalgic or sentimental appeal.” I tie seasons and

times of the year to favorite foods and win-ter is definitely a season I equate with food that should make you feel good.

I have my own definition of the classics in terms of cuisine. Memories of places I’d eat with my dad, our family’s Southern roots, and family recipes have shaped what I

to George, “It’s got Italian, it’s got a little Chinese, a little Greek, a little Mexican, and a lot of American.” I mentioned the phrase “the classics” to George when describing my take on his menu. “That’s a great way to describe it,” he says. “You’ve got all these chain places changing their menus and we just keep it simple and, as you said, classic.” It is apparent that quality and consistency are two major goals set by ownership for the Jackson Station staff. “We buy top prod-uct, we don’t buy generic, we take pride in what we do, we cook everything home-style, everything is fresh and nothing is out of the box, it’s just really good food.”

Jackson Station Café also boasts a family feel to go along with the memories some of their dishes are bound to bring back. According to George,” it’s like a big family here, you can actually go sit down at a table and talk with people for a few minutes”. It is a very family-friendly atmosphere.” Given his Uncle’s success in the restaurant business, the support of his family, and a growing business in Cicero, I asked George if he had plans to expand. “I don’t plan on stopping here,” he responded. I look forward to watching them grow.

The familiar site has been home to several restaurants over the years, but seemingly none with this variety of featured foods.

Bell of Recognition for 4th Quarter 2011 Cheryl Schulz, Alexander’s on the Water

1st Quarter Bell of Recognition Nominees:Beck’s Hybrids

Edward Jones/Corey SylvesterAlice’s Restaurant/Alice O’Brian

HA

MIL

TON

NO

RTH

Upcoming Events!DECEMBER 2011Tuesday, December 6HNCC Holiday Celebration ~ 11:30 am Red Bridge Park Community Building, Entertainment: Indiana Academy Bell Choir

HamiltonNorth Chamber

70 N. Byron StreetCicero, IN 46034

317-984-4079JANUARY 2012Tuesday, January 1HNCC Luncheon ~ 11:30 amHamilton Heights High School, Speaker: Tony Cook, Superintendent, Hamilton Heights School Corporation

ALIvE AfTER fIvE AT ARCAdIA WINE & SPIRITS

Kid Again, LLCJennifer Davis160 S. Peru StreetCicero, IN 46034(317) 984-1300

Erika’s PlaceCheryl Hunter/Erika Flanders40 W. Jackson St.P.O. Box 156Cicero, IN 46034(317) 984-9303

Mark Robbins, The Legacy Fund explains to Chamber members the purpose of the The Legacy Fund

SEPTEMBER LuNCHEoN

Brenda Myers, Hamilton County Convention & Visitors Bureau

Chamber membersnetworking and sampling at Arcadia Wine & Spirits

Debbie Laird, Agape Therapeutic Riding Center presents the Business Spotlight

oCToBER LuNCHEoN

Abe Evans, representing Town of Atlanta

Bill Cook, Town of Arcadia

Kay Hartley, Town of Cicero

Zeke Turner, Cicero Economic Development Committee

Brandon Anderson, owner of Arcadia Wine & Spirits, is joined by friends and HNCC Board Members in cutting the ribbon to open his new downtown Arcadia store

NEW MEMBERS

Ternion AdvisorsTed Spurgeon110 N. Jackson StreetSuite 210Cicero, IN 46034(317) 836-1333


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Noblesville Chamber601 Conner Street

Noblesville, IN 46060317-773-0086

DECEMBER 2011 JANUARY 2012UPCOMING EVENTS!

January 9 – 7:30 a.m.Legislative BreakfastThe Mansion at Oak Hill - 5801 E. 116th Street

January 19 – 7:30 a.m.Legislative BreakfastGolf 365 - 9625 E. 150th Street Suite 101

January 25 – 11:30 a.m.Membership LuncheonThe Mansion at Oak Hill - 5801 E. 116th Street

January 26 – 5:00 – 7:00 p.m.Business After Hours – All-CountyConner Prairie - 13400 Allisonville Road

FEBRUARY 2012 February 13 – 7:30 a.m.Legislative BreakfastThe Mansion at Oak Hill - 5801 E. 116th Street

February 22 – 4:30 – 6:30 p.m.Membership LuncheonHarbour Trees - 333 Regents Park Lane

December 7 – 11:30 a.m. Holiday Membership Luncheon Purgatory Golf Club

December 8 – 4:30 – 6:30 p.m.Holiday Business After Hours Mr. G’s Liquor

Seek out our new members at the next Chamber event you attend and help them feel welcome!

Photographs courtesy of Steve Furlow, The Times

NEW MEMBERS

Bob KeeneyNoblesville Youth

Baseball

Blair CarmosinoThe Carmosino

Group

Glenn Troyer, Krieg DeVault, LLP, was awarded the first Aspiring Person Award presented by Aspire Indiana. The presentation took place at a recent Chamber membership luncheon. In addition to his legal work on behalf of the organization, Mr. Troyer was recognized for the significant and positive impact he has had on the community.

A TASTE of BuSINESS IN NoBLESvILLE!2012 Taste of Business in Noblesville will be held Tuesday, March 27. Hamilton County 4-H Fairgrounds from 4:30 – 7:00 p.m.

ASPIRING PERSoNSFirehouse Subs Winner - Bistro Award sponsored by Logan Street Signs & Banners Aubrey Kelley, Mike Harmon, Yuri Harmon, Michael Lowry and Jonathan Burgoni

Ginger’s Café Winner - People’s Choice Award sponsored by Duke Energy & The Farmers Bank Mikki Perrine & Jackie Bolden Presenting the award, Willy Wonka (aka Syd Loomis, The Farmers Bank)

Godby Home Furnishings Winner - Best in Show Award sponsored by Chamber Legacy Partners, Community Bank & Riverview Hospital Chamber President Sharon McMahon with Chris Cline and Bethany Young

Indiana Members Credit Union Winner - Most Creative Award sponsored by Comcast Business Class & Spotlight Indianapolis Ann Ashley, Lonnie Carpenter and Samantha Knowles

This exciting and very popular event showcases a wide variety of Chamber member businesses and restaurants. Hundreds of area residents enjoy the creative, fun and often yummy displays! Go to www.noblesvilechamber.com for more information! Pictured below are last year’s award winners.

Golf in January?? Get in the swing now! Don’t miss the Business After Hours on Thursday, January 19 at Golf 365, located at 9625 E. 150th Street Suite 101.

Noblesville Chamber committees are looking for great volunteers. Contact the Chamber office, 317-773-0086, if you would like to serve.

This year’s Christmas Lighting Ceremony will be held November 25, the Friday following Thanksgiving at the Judicial Center.

JANUARY 2012Tuesday, January 1HNCC Luncheon ~ 11:30 amHamilton Heights High School, Speaker: Tony Cook, Superintendent, Hamilton Heights School Corporation


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Sheridan Chamber407 S. Main Street

P.o. Box 202Sheridan, IN 46069

317-758-1311

Thursday, December 1st, Member Christmas LuncheonSheridan Community Center - 300 E. 6th StreetSheridan, Indiana 46069

Derek Arrowood will be giving us the “ State of the Schools” addressThe SHS Choir will be performing.Please get your reservations in earlyemail to: chambermail@sheridanchamber .org

Be sure to visit the Sheridan Chamber Website, www.sheridanchamber.org for information on all upcoming events!

Mayor Andy Cook.

Peter Feeney, Rev. V.J. Stover, Bob & Helen Hamilton, Bob Halcomb, & Rev. Carol Fritz

Held on September 22, 2011 at The Palomino Ballroom, ZionsvilleOur Guest Speaker was Andy CookMayor of Westfield, Indiana

Sheridan Chamber of Commerce Annual Dinner

2011 Monthly Luncheon Dates

Door Prizesat the

Sheridan Chamber

of Commerce Annual Dinner.

Business of the Year was Sheridan Florist, Patty Nicholas, Rachel Spencer, Parvind Gillim

President Parvin Gillim.

Buffet at the Sheridan Chamber of Commerce Annual Dinner.

Edna, Travis, Erin, Rachel and Jennifer at Sheridan Chamber of Commerce Annual Dinner.

Jill & Steve Biddle, Greg & Sharie Morgan, & Del & Maxine Burtner

30 December 2011 • January 2012/Hamilton County Business Magazine

DECEMBER 2011Holiday Membership Luncheon Thursday, December 15th ~ 11:00 a.m. - 1:00 p.m. The Bridgewater Club ~ 3535 East 161st StEnjoy holiday entertainment and door prizes as we celebrate the season and recognize some special volunteers. $15/members with reservations • $20/all others Register online at www.westfield-chamber.org by Friday, December 9th - 317.804.3030 W

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MARK YOUR CALENDARS Westfield Chamber130 Penn Street

P.o. Box 534Westfield, IN 46074

317-804-3030

LANTERN AWARd WINNERS

Rob Garret accepts the Lantern Award “Business of the Year” on behalf of Ameriana Bank.

Tom Warner, Frontier Sponsor

Sponsored by

Keltie Domina awards Jim Gapinski with the Beacon Award “Citizen of the Year”.

RIBBoN CuTTINGS

Kim Thompson, owner of Huntington Learning Center received the Wick Award “Volunteer of the Year” Body One Physical

Therapy & Sports Rehabilitation

Godby Home Furnishing

Maple Park Village

All Chamber event dates, times and locations are subject to change. Please call 317-804-3030 or

visit www.westfield-chamber.org for details.

JANUARY 2012Membership Luncheon Thursday, January 19th ~ 11:00 a.m. - 1:00 p.m.Welcome to the Westfield Chamber 2012 The Bridgewater Club ~ 3535 East 161st St“Westfield Chamber 2012”: Meet new board members and committee chairs as they present their plans and projects for the upcoming year. $15 for members with reservations$20 – all others. Register online at www.westfield-chamber.org by Friday, January 13th 317-804-3030

All County Business After HoursThursday, January 26th ~ 4:30- 7:00 p.m.Super Bowl themed Networking event with members of all Hamilton County Chambers!Conner Prairie Museum ~ 13400 Allisonville Road, FishersNo Charge. Register online at www.westfield-chamber.org by January 24th

Best Wishes for Happy, Healthy Holiday Season and a Happy 2012!

Hamilton County Business Magazine/October • November 2011 31

32 December 2011 • January 2012/Hamilton County Business Magazine

Unfinished Business?The murder of Benjamin Fisher

Hamilton County History

David Heighway

Strawtown, (mostly known as a gin mill), and who made his money by selling liquor to the Indians. Later writers would refer to him as a “notorious character”.

The standard version of the story begins in March of 1821 when Shintaffer got into an argument with one of the Indians – supposedly about watering the liquor. Shintaffer knocked the Indian down and threw him into the fireplace, where the Indian was severely burned and possibly died. The conclusion happened in April and played out the way it did because Shintaffer had the only grindstone in the area. Fisher and some other farmers were in Straw-town to get some axes sharpened when a group of Indians, possibly Miami or Pottawatomie, came to take revenge on Shintaffer for his actions the month before. Armed with knives and tomahawks, they attacked the tavern. The farmers responded with their axes and whatever was at hand. They held off the Indians until Shintaffer was wounded, Fisher brained by a tomahawk, and one Indian was killed, at which point the Indians fled.

This story has been repeated for many years. There are versions from possibly Shintaffer himself (second- or third-hand), Benjamin’s daughter Mary Fisher Simmerman (1816-1884), and Benjamin’s son Charles Fisher (1819-1912). These would seem to be reliable sources, even though Fisher’s children were quite young when the incident occurred. However, when the story is viewed by a historian, oddities begin to appear.

1) The various versions have different counts for the parties involved, but it comes out as 4 to 6 farmers holding off 8 to 12 Indian warriors, which are pretty bad odds. Then, when one farmer was down and another wounded, thereby increasing those odds, the Indians abandoned the attack without complet-

hen doing historical research, the information sometimes leads you down strange paths and you find yourself investigating things that you didn’t expect. The murder of Benjamin Fisher is one such case. While looking at the War of 1812 and its presence in Hamilton County for the upcoming bicentennial, I came across Fisher’s story in the local histories. The more I looked at the case, which was the first known murder in the

coun-ty,

the more I began to wonder

about many of the tales

about it that have been passed down

through the years.

It happened in Strawtown which was a lively place (HCBM Feb./Mar. 2009). There are no contemporary accounts - the earliest version we have is from 1874, some 53 years after the fact. Fisher himself was born in 1791 in Pennsylvania and moved to Indiana after serving in War of 1812. He was an early settler of Fishersburg area, which would be named for him, in Madison County. The cause of the incident was a man named Philip Shintaffer (1776-1840), who ran a tavern in

ing what they came to do. This is pretty awesome hand-to-hand fighting skills on the part of the farm-ers and, unless one was named Bruce Lee, seems somewhat unlikely.

2) No guns were used – the Indians allegedly wanted silence, but nothing prevented one of the farmers from stepping into the trading post and picking up the rifle that would have been in every house.

3) For some unknown reason, Fisher was buried in Strawtown where he died, not sent home to his family and his own property, which was only about eight miles away. There was no official burial ground at Strawtown and no reason why that site would have been preferred. The grave was apparently left unmarked. Later historians would mention a “low mound” with no headstone near the Strawtown Cemetery. It could possibly be found with modern archeological techniques. It might have some interesting stories to tell.

4) The night after the killing, Shintaffer packed all of his goods and his family into a canoe and fled. (Presumably. he didn’t take the grindstone.) He followed White River to Greene County and settled there for a few years. The histories there refer to him a man of “considerable notoriety” having a

W

Fishersburg today

Hamilton County Business Magazine/October • November 2011

In 1875 the building now known as The Model Mill was erected.

After more than125 years service this space

still thrives in the heartof downtown Noblesville.

Three preferred caterers to suit any taste or budget. Let them

create a menu to perfectly complement your event.

Original architecture addscharacter and charm to this

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exposed wood beams all create warm and interesting event space.

Mill Top features six unique event spaces to accomodate

groups of near any size in style

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ous background and was sometimes partner with Shintaffer in business. He built the first businesses in Strawtown – a distillery and a horseracing track. Later, he became Overseer of the Poor for White River Township, (he had apparently built up a good client base). Another alleged participant was Jacob Colip, but he is also not mentioned in the earli-est versions and there is no record of his being in Hamilton County until 1823. No other participants are named.

Charles Fisher, the son of Benjamin, was two years old at the time of the attack. While he was too young to have witnessed anything, he told this story often. He was known for his stories. For example, he said that he had the powder horn that his father carried in the War of 1812. He also said that he had the tomahawk that his father was killed with. And he also said that he had pieces of his father’s skull from the attack and would show these pieces to visitors. (As a side note, Charles was also one of first

to say that Strawtown was named for the Delaware Chief Straw, a person that modern historians have found no evidence actually existed.)

In the final analysis, many of the stories don’t ap-pear to hold up and it’s not clear what might have actually happened. Native Americans have stood accused of this crime for 190 years, even though they gained nothing from it, not even revenge. No other possibilities seem to have been considered, including the short-tempered, violent man who fled immediately after the killing. With the signing of the Treaty of St. Mary’s in 1818, the Indians were already leaving the area, so the motives in all cases seem a little unclear. No matter what else may have happened, Benjamin Fisher was in the wrong place at the wrong time and left a conundrum for future historians.

“quick temper” and often being the defendant in court cases. He left there in 1832 and finally settled in Cass County, Michigan, where he is buried.

5) Finally, despite this being a sizable attack on an isolated settlement, there is no record of an official reaction. There was apparently no attempt to cap-ture the perpetrators, even though during the War of 1812, soldiers would chase Indian warriors from Franklin County all the way to the area of modern Hamilton County. Three years after the Strawtown fight, the governor would call out the militia be-cause of fears of retaliation for the Massacre on Fall Creek. But in this case – a wholesale assault and battle involving possibly 20 people and two deaths – nothing was said or done.

Some of the people who remained to tell the story were interesting characters – one of the alleged participants was Jacob Hire; although he’s not named in the earliest versions. He has a mysteri-

David Heighway is the Hamilton County Historian

David Heighway is the Hamilton County historian

Commercial Lease Space

River Edge Professional Centerand River Edge Market PlaceNoblesville, INCall John Landy at [email protected]

65,000 square feet of flexible floor plans. Design and build to your specifications. Time Share space available. Retail space also available from 1,600 square feet up.

Easy access and abundant parking! High speed internet. 3 minutes from Riverview Hospital.

Signs and Banners

Logan Street Signs & Banners1720 South 10th Street,Noblesville, IN317-773-7200 Open M-F 7-5www.loganstreetsigns.comwww.noblesvilletrophies.comwww.noblesville.com

Digitally printed signs and banners of any size, vehicle wraps and graphics, T-shirt printing, laser engraving. Great customer service, fast turn-around. Family Owned and Operated. Serving Noblesville and Hamilton County since 1992. Also home of Noblesville Trophies. 773-7391 Open M-F 9-6 Sat. 10-2

Rotary International

The Noblesville Midday Rotary Club is one of 32,000 local Rotary clubs throughout the world and six in Hamilton County. Open to all persons regardless of race, color, creed or politi-cal preference, Rotary brings together business and professional leaders to provide humanitarian service, encour-age high ethical standards in all voca-tions, and help build goodwill and peace in the world. Each club meets weekly. For more information on the Noblesville Midday Rotary Club. Call Mike Corbett at 774-7747

Service Club

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hamilton county business magazine-december/january 2012

Documents

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