Purdue’s Income Share Agreement Program Takes On Philanthropic Component

We covered Purdue’s new income share agreement program, a measure to help students lessen the debt they incur, in BizVoice last year.

Purdue recently announced its “Back a Boiler” program has added a philanthropic aspect by allowing donors to contribute as well. A release from the school has more:

Beginning this fall, Purdue students who apply to take part in Back a Boiler – designed to offer students and their families an alternative financing option – may also apply for available funding support from the new Pave the Way program.

Addressing Purdue alumni and friends at a dinner in Naples, Florida, President Mitch Daniels recognized the support of Bob and Patti Truitt, Purdue alumni who approached the university about expanding Back a Boiler so that donors could participate, in addition to investors.

“Our hope is that we can not only help students finance their education, but also help teach the importance of charitable giving, including the joy and importance of giving back to Purdue,” said Bob Truitt, a 1962 graduate of Purdue’s School of Aeronautics and Astronautics. “Patti and I are honored to make the initial commitment to Pave the Way.”

Back a Boiler participants receive education funding in exchange for an agreed-upon percentage of their post-graduation income over a set number of months. In addition to signing a Back a Boiler contract, Pave the Way participants are asked to make a voluntary pledge. After graduation, students fulfill their Back a Boiler commitment and are encouraged to donate to Purdue through charitable giving, creating an evergreen Pave the Way fund to benefit future students.

“It’s what we like to call a virtuous cycle,” said Amy Noah, vice president for development, Purdue Research Foundation. “We’re grateful to Bob and Patti for establishing an ongoing legacy of philanthropy, and we’re hopeful that our generous alumni and friends will be interested in supporting future generations of Boilermakers through this new way of giving to Purdue.”

To learn more, visit purdue.edu/evertrue/pavetheway.

Razor Sharp: Roanoke Barber Rex Ottinger Reflects on a Lifetime of Memories

Roanoke barber Rex Otttinger has seen it all – a steady stream of loyal customers, an unruly flood and leaner times during the long-hair trend of the 1970s.

And feel free to sleep in his chair, but interruptions like phones and TV are no-nos at this barber shop. In fact, Ottinger has never had a phone in the store – and never will.

Read about this Huntington County success story in the new BizVoice.

Hoosier Farm Families Earn Bicentennial Honor from State

It’s not every day someone presents a sheepskin deed signed by a past President of the United States. Linda (Saltzman) McCall sent this image to me of her family’s farm deed, signed by James Monroe. She said she’s pleasantly surprised by the shape it’s in considering it hung in the family’s home, enduring myriad temperature fluctuations through the years.

Saltzman and her family were one of four that received Hoosier Homestead Bicentennial Awards from the Indiana State Department of Agriculture last summer – an honor reserved for those whose families have had a farm in the state for at least 200 years.

Read the article about the honorees in the latest edition of BizVoice.

Remembering Bill Hudnut; My Interview with Him on Getting the Colts

Indianapolis Mayor Bill Hudnut was the first mayor I have a memory of. When I read of his passing over the weekend, it took me back to all the landmark accomplishments that took place during his 16 years in office.

I also thought about the lively and interesting phone interview I had with him in the summer of 2011. The Chamber’s BizVoice® magazine was doing a section on famed business deals and I got the best one: the Circle City landing the Colts.

I found Mayor Hudnut more than willing to take a stroll down memory lane and share his opinions.

An excerpt from the interview:

“We thought we’d get a franchise because the league was expanding, not the relocation of an existing one. (Owner) Al Davis of the Oakland Raiders moved (the team) to Los Angeles and, secondly, there was a strike, so they weren’t going to expand – which certainly was sort of a blow to us. But we were pregnant with the thing; we had to keep on building it as an expansion to the convention center. That’s the way it was promoted to the public – that it would justify itself whether or not it was used 12 days a year for a football game.”

Read the full Q&A (you have to love his detail and memory of the events). Also read the full BizVoice article.

‘Take the Long Way Home’: Todd Miller of Myers Spring a 2016 Chamber Volunteer of the Year

Todd Miller grew up in the small town of Twelve Mile in Cass County. Ironically, it’s about 12 miles from Logansport, where Miller resides and runs his family’s business, Myers Spring Company.

Miller’s journey, however, is anything but a short drive. In fact, at one point, he wasn’t even sure he wanted to be involved with the company that his grandfather started in a garage in 1946.

When Miller attended Purdue University to pursue a degree in engineering, he followed his musical passion and joined the school’s glee club. Traveling throughout the state and country with the group opened Miller’s eyes to the possibility of meeting new people and experiencing new cultures. As manager of the glee club, he met fascinating people and at one event dined with astronauts Gene Cernan and Neil Armstrong.

Those were pivotal moments for Miller. His grandfather passed away in 1985, and Miller’s father took over the company. Miller’s intention was to join the business after he finished school.

Read the full story in BizVoice.

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Dynamic Duo: Edwin the Duck Creators Named 2016 Dynamic Leaders of the Year

If it looks like a duck, walks like a duck … it’s likely a duck – as the idiom conveys. However, if it syncs with mobile apps, teaches life lessons and takes the Internet of Things to a whole new level, it might be better described as a groundbreaking, transformational gadget the likes of which the children’s toy industry has never seen.

That was the hope when Don Inmon and Matt MacBeth, two innovators with minds for engineering and a collective desire to navigate the turbulent skies of the tech spectrum, developed pi lab and its flagship product – Edwin the Duck.

Edwin is a rubber duck that includes a Bluetooth speaker, a thermometer that gauges bath water, a night light that works in tandem with apps and much more, allowing children to follow along with interactive stories, play games and enjoy sing-alongs.

Tens of thousands of units have been sold (via online and brick and mortar stores like Amazon, Apple Store, Best Buy, Target and Toys ‘R Us) and are already in the hands of children around the globe.

Read the full story in BizVoice.

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Master Strategy: Fishers Named 2016 Community of the Year

“Fishers could have stayed nothing more than what it was when I moved there in 1995: a nice place to live with lovely vinyl apartments. But it’s not that (today). And that’s not an accident; it got there with a strong plan,” declares John McDonald, CEO of Fishers-based CloudOne.

No matter who you talk to – business leaders, local officials or longtime residents – they all cite adopting the vision in recent years to become a “smart, vibrant, entrepreneurial city” as the turning point for Fishers. They credit Mayor Scott Fadness for instilling that, with the backing of the city council.

What’s followed is quite the transformation.

Major economic announcements are the new norm, not the exception. Innovation is now synonymous with the fast-growing locale.

That speaks to how dominant a player Fishers has become in the last several years in business attraction and expansion. It boasts an impressive entrepreneurial spirit thanks to Launch Fishers, the largest collaborative co-working space in the state (if not the Midwest)…

Read the full story in BizVoice.

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