Retail

Red Key's rules will live on after owner's death

April 5, 2010
J.K. Wall
Russel Settle, 92, was renowned for telling customers at the landmark Red Key Tavern to mind their manners in the northside pub featured in a Dan Wakefield novel.
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Tenant exit leaves Circle Centre 4th floor almost vacant

April 1, 2010
Scott Olson
Departure of GameWorks arcade leaves another 27,000 square feet of vacant space on the mall's fourth floor, which has struggled for years to keep tenants.
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Fishers approves $19M auto mall development

April 1, 2010
Kathleen McLaughlin
The town has agreed to create a tax-increment financing district to help fund infrastructure improvements for Butler Automotive Group's proposed development.
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Famous handbag maker hits local retailers with lawsuits

March 31, 2010
Kathleen McLaughlin
In an effort to crack down on knockoffs, famous handbag designer Coach Inc. has hit at least three local retailers with trademark-infringement lawsuits.
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General Growth preparing to file finance plan

March 29, 2010
Bloomberg News
General Growth is weighing options to exit Chapter 11 protection, with competing bids from Indianapolis-based Simon Property Group Inc. and Brookfield Asset Management Inc.
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Finish Line reports big jump in sales, profit

March 25, 2010
Cory Schouten
Shares of athletic retail specialist The Finish Line Inc. were soaring in after-hours trading Thursday after the company reported strong fourth-quarter sales and a growing pile of cash on its pristine balance sheet.
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Local beverage entrepreneur retrenches with new venture

March 25, 2010
Scott Olson
J. Smoke Wallin launches Pelican Brands LLP to help booze companies market and distribute their products after his attempts to acquire underperforming brands fizzled due to the credit crunch.
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Fishers Town Council set to review auto mall plans

March 25, 2010
Butler Automotive Group is proposing a $19 million development along Indiana 37 that could include five auto dealerships and create about 230 jobs.
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Blue Bell ice cream coming to Indianapolis

March 19, 2010
Scott Olson
Texas-based Blue Bell Creameries will begin selling its ice cream in nine metropolitan Meijer stores beginning April 5. Distribution will be assisted by the building of a 12,000-square-foot facility on the northwest side.
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Shoe Carnival profit beats estimates

March 18, 2010
Evansville-based shoe and apparel retailer reports strong sales of boots and athletic footwear.
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Noble Roman's boosts profit in 2009

March 17, 2010
 IBJ Staff
Indianapolis-based Noble Roman's Inc. improved its bottom line in 2009, reporting a $1.7 million profit despite revenue that dropped 16 percent to $7.5 million.
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Simon weighs new General Growth bid, sources say

March 17, 2010
Associated Press
Simon Property Group Inc. is considering raising its $10 billion buyout offer for rival shopping mall owner General Growth Properties Inc. as early as this week.
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Bakehouse drives growth for Scholars Inn

March 16, 2010
Peter Schnitzler
Bakehouse watch
                           video
                           iconScholars Inn’s growth engine is its wholesale bakery, which distributes granola and other fresh products across state lines thanks to deals with partners like Kroger.
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Former Saturn franchise in Fishers enters new orbit

March 11, 2010
Chris O'Malley
An All Things Automotive franchise is replacing Saturn of Fishers. The concept, aimed particularly at displaced Saturn dealers, involves used-car sales and service bays stocked by Carquest.
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General Growth investors add $3.93B to Brookfield plan

March 8, 2010
Bloomberg News
The cash payment matches a provision of a competing bid by Indianapolis-based Simon Property Group Inc., which has offered to buy its biggest competitor for more than $10 billion and pay all unsecured creditors.
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Hearings on Walgreens' bid to sell alcohol continued

March 1, 2010
Scott Olson
The Illinois-based drugstore chain is seeking to sell beer and wine at 29 of its stores in Marion County. Opponents argue that the county already has granted enough permits.
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Regulators take interest in Simon's play for Prime Outlets

February 27, 2010
Bloomberg News
The Federal Trade Commission has contacted Gap Inc. about Simon Property Group's proposed acquisition of Prime Outlets Acquisition Co.
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NCAA plans to battle counterfeiters during the men's Final Four

February 27, 2010
Scott Olson
A National Collegiate Athletic Association posse will be supplemented by local police officers in search of unlicensed T-shirts and other memorabilia.
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Tech-savvy Scotty's owner eyes national expansion

February 27, 2010
Andrea Muirragui Davis
Scotty watch videoScott Wise has five Scotty's Brewhouse locations and is set to debut the Scotty's Lakehouse concept Monday. Within 10 years, he'd like to have restaurants in the Southeast and on the West Coast.
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Scotty's owner planning to open microbrewery

February 26, 2010
Andrea Muirragui Davis
Indianapolis restaurateur Scott Wise is moving forward with plans to launch Scotty’s Thr3e Wise Men Brewing Co., a microbrewery that will produce craft beer for his eateries and the public. It will share space with another startup craft brewer.
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Battle for General Growth biggest real estate fight in years

February 25, 2010
Bloomberg News
The battle for General Growth Properties Inc., owner of more than 200 U.S. malls, is turning into the biggest real estate skirmish since the sale of Sam Zell's Equity Office Properties Trust.
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Brookfield deal doesn't put Simon out of General Growth game

February 25, 2010
Bloomberg News
The bid by Simon Property was an "initial salvo" and the Brookfield plan likely will prompt a new offer from the Indianapolis-based mall owner, real estate research analyst says.
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Simon's $10 billion bid for bankrupt General Growth roils retailingRestricted Content

February 20, 2010
Cory Schouten
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
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HHGregg's faster growth boosts risk, potential rewardsRestricted Content

February 13, 2010
Greg Andrews
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly that number within the next year.
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Herb Simon purchases Kirkus book review journal

February 11, 2010
Scott Olson
In a move not necessarily stranger than fiction, Herb Simon has bought Kirkus Reviews, the venerable journal of prepublication book reviews. The owner of the Indiana Pacers co-owns an independent bookstore in California and is described as a voracious reader.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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