Thomas Wyatt Wilson Binford | |
|---|---|
| Born | (1924-04-06)April 6, 1924 Indianapolis[1] |
| Died | January 14, 1999(1999-01-14) (aged 74) Indianapolis |
| Burial place | Crown Hill Cemetery and Arboretum, Section 61, Lot 26 39°49′11″N86°10′38″W / 39.8196247°N 86.1771826°W /39.8196247; -86.1771826 |
| Alma mater | Princeton University |
| Occupation(s) | Entrepreneur andphilanthropist |
| Known for | Acting President ofDepauw University (1975-76) Chairman and CEO ofIndiana National Corporation (1976–1981) |
Thomas Wyatt Wilson Binford (April 6, 1924 – January 14, 1999)[2] was anIndianapolis-basedentrepreneur andphilanthropist. One of Indianapolis' most influential men, Thomas W. Binford, was a pioneer, visionary, andcivil rights leader. He participated in civic, philanthropic, cultural, and political aspects of the city and state and was valued for his sensitivity, wise counsel, personal and financial support, and sincerity. In addition to his many personal interests, Binford spearheaded a group to buy theIndiana Pacers basketball team in 1975 and served as its president and general manager for one year. From 1974 to 1995, Binford served as the Chief Steward of theIndianapolis 500, presiding over its transition fromUnited States Auto Club governance toIndy Racing League governance.[citation needed]
Binford attendedPrinceton University, where he was a member ofPhi Beta Kappa. He was interim president ofDePauw University in 1975–76.[3] Although he did not have any prior banking experience, Binford was electedchairman andchief executive officer ofIndiana National Corporation, the holding company for the largest bank in the state of Indiana, from 1976 to 1981, turning the company around after it lost money during the1973–75 recession.[4] He was instrumental in bringing theColts to Indianapolis. His greatest contribution was creating an environment in the city of Indianapolis where issues of civil rights and race could be discussed productively and without rancor.[citation needed] A street in northeastern Indianapolis was renamed Binford Boulevard in his honor.[5]
Binford began serving as chief steward during the1973 Indianapolis 500. In 1978, Binford was a candidate in theFISA presidential election but lost the election toJean-Marie Balestre by 29 votes to 11. His most notable races include the1981 Indianapolis 500 and the1995 Indianapolis 500. Binford penalizedBobby Unser one lap for illegal passes under a caution in 1981. His penalty was overruled by a USAC appeals board five months later. In 1995, Binford penalized Jacques Villeneuve early in the race for a restart violation and later gave a stop-and-go penalty toScott Goodyear after Goodyear passed the pace car on the final restart. The 1995 race was his last as chief steward before retiring in 1996.
Binford suffered a cerebral hemorrhage while he was at his office in Indianapolis and later died atMethodist Hospital.[6] He is buried atCrown Hill Cemetery inIndianapolis.[7]
Binford, Thomas Wyatt.
After five tumultuous years, Thomas W. Binford is ready for a change. "There's time to step up, and a time to step down," the chairman of Indiana National Corp. said Wednesday. "Five years ago, it was time to step up and do something. Now, it's done." What Binford did was help Indiana National turn itself around. The holding company, owner of Indiana's oldest and second largest bank, was foundering in 1976 when Binford was asked to take off his academic robes and become INB's chairman. Although he had no professional banking experience, he had what one outside expert called "a case study in turnaround management." Throughout those five years, Binford maintained that his goal was to build up Indiana National's management, to set the company on a firm footing and "to work myself out of a job."
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