News & Analysis

Running guru Kennedy joins Athletic Annex ownership

October 2, 2014
Bob Kennedy has become a partner of the longtime northwest-side specialty running and walking retailer, while maintaining his ownership of a three-store chain in San Diego.
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Lilly to end development of lupus drug after trial failure

October 2, 2014
Associated Press
Tabalumab was expected to generate about $250 million to $300 million a year in sales in several years.
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Board ponders new Indiana school 'A-F' grades

October 1, 2014
Associated Press
Indiana education leaders inched closer Wednesday to approving a new system for grading the state's schools, nearly a year after a secret overhaul of the school-grading formula by then-Schools Superintendent Tony Bennett was revealed.
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WISH-TV expanding daily newscasts by four hours

October 1, 2014
Jeff Newman, Anthony Schoettle
WISH-TV Channel 8, which will lose its 58-year affiliation with CBS-TV at the end of the year, is planning to fill some of the programming void with local news coverage, the Indianapolis station announced Wednesday.
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Pagenaud convinces Penske to expand to 4 IndyCar entries

October 1, 2014
Associated Press
Team Penske this week added the Frenchman to its IndyCar lineup, which will have four full-time cars next season for the first time in team history.
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UPDATE: Angie's suitors could include Amazon, Yelp, IAC

October 1, 2014
Jared Council
Amazon has been developing its own local services marketplace. Yelp is the leading consumer-review service in the retail space. Website Holding company IAC, meanwhile, has a big stash of cash and owns competitor HomeAdvisor.com.
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U.S. construction spending slumps 0.8 percent

October 1, 2014
Associated Press
U.S. construction spending fell in August, the second decline in the past three months, with housing, non-residential and government projects all showing weakness.
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Manufacturing index shows slower growth

October 1, 2014
Associated Press
The pace of U.S. manufacturing growth slowed in September, as expectations for hiring and new orders slipped from their August levels.
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Shopping malls brace for wave of consolidation

October 1, 2014
Bloomberg News
There's a hunger in the retail industry for lower-tier, "B" shopping centers, seen as a bargain by potential owners. A $4.3 billion deal in the works involving a Simon Property Group spinoff could trigger more transactions.
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What if high court rejects gay marriage cases?

October 1, 2014
Associated Press analysis
Almost everyone is calling for the Supreme Court to step in and make a decision on gay marriage, but not getting involved is a possibility. The issue was on the agenda when the justices met in private Monday to decide new cases to hear this term.
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UPDATE: Amtrak angles to keep control of Hoosier State route

October 1, 2014
Kathleen McLaughlin
A little-used, delay-plagued passenger rail line from Indianapolis to Chicago has become a battleground, as Amtrak tries to fend off competition invited by the Indiana Department of Transportation.
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Pair of top Pence aides leaving administration

October 1, 2014
Associated Press
Indiana Gov. Mike Pence announced Tuesday that personnel director Anita Samuel and former workforce development commissioner Scott Sanders are exiting their positions.
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U.S. judge blocks Obamacare tax rule for non-exchange states

September 30, 2014
Bloomberg News
An Oklahoma federal judge dealt a blow to President Barack Obama’s health-care law, invalidating IRS rules aimed at making policies affordable for consumers around the country.
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Purdue, Indiana State receive U.S. innovation grants

September 30, 2014
Associated Press
Purdue and Indiana State universities are among 24 colleges and universities receiving grants from the Education Department to foster innovation in college value and efficiency.
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Report: Angie's List hires bankers to explore sale

September 30, 2014
 IBJ Staff
The Financial Times said the Indianapolis consumer-review company already has had conversations with prospective buyers but "is not wedded to selling itself."
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Fuson replaces Morris as Indiana Pacers president

September 30, 2014
 IBJ Staff
The Indiana Pacers on Tuesday announced a front-office shuffle that will see longtime executive Rick Fuson replace Jim Morris as president of Pacers Sports & Entertainment. Morris will become vice chairman.
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Indiana AG proposes home contractor registry

September 30, 2014
Associated Press
Attorney General Greg Zoeller wants Indiana lawmakers to approve a state registry for home-remodeling contractors to boost consumer protections against would-be scammers.
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Government: NFL TV 'blackout' rule unsportsmanlike

September 30, 2014
Associated Press
The vote won't actually end blackouts, which are written into the NFL's private contracts with broadcast and cable companies. But it means responsibility for blackouts now lies entirely with the NFL and its television partners, not the government.
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Prospective Salesforce tower spurs proposal, concerns

September 30, 2014
Jared Council
News that Salesforce.com wants a signature office tower downtown already has sparked an overture from one developer, shined a spotlight on available sites, and triggered fears about the impact on office vacancy rates.
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Developer plans $9.1M project on Fountain Square parking lot

September 30, 2014
Scott Olson
City officials have selected Deylen Realty's proposal to build a five-story apartment-and-retail project on a surface parking lot the city has owned for years.
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Four-story addition proposed for Mass Ave. office building

September 30, 2014
Scott Olson
Gershman Partners, which bought the Marott Center less than a year ago, wants to build the addition on an adjacent surface lot.
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BKD gets bigger with Chicago, Dallas acquisitions

September 30, 2014
 IBJ Staff
National accounting powerhouse BKD LLP, which has major operations in Indianapolis, is expanding its territory with two acquisitions announced this week.
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Indiana casinos want wagering, admission taxes cut

September 30, 2014
Associated Press
A legislative committee is weighing requests from Indiana casino operators to reduce the state's wagering tax rates and eliminate the $3 admission tax for everyone who enters a riverboat, even if not gambling.
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Southeast-side CDC names new president

September 30, 2014
Southeast Neighborhood Development Inc. selected a veteran city official to take over the position from its current president, who is retiring.
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Cumberland eyes pavilion for markets, festivals

September 30, 2014
Associated Press
Town officials are eyeing a $1 million project to turn the former Schreiber Lumber pavilion near Carroll Road into a trailhead to host farmers markets, festivals, fundraisers and more.
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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

  3. I've been looking for news on Corner Bakery, too, but there doesn't seem to be any info out there. I prefer them over Panera and Paradise so can't wait to see where they'll be!

  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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