Retail

Banks scale back real estate needs as transactions shift online

April 23, 2013
Scott Olson
After zooming higher in the last decade, the number of bank branches in Indiana slipped to 2,056 in 2011, the lowest level since 2006.
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After raid, pet store owner agrees to quit selling animals

April 23, 2013
 IBJ Staff
Animal control officers found hundreds of violations in March at The Fish Bowl, 2101 East Michigan St. The owner plans to continue operating his business as a pet-supply store.
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Senate bill jeopardizes tax-free online shopping

April 22, 2013
Associated Press
States could force Internet retailers to collect sales taxes under a bill that overwhelmingly passed a test vote in the U.S. Senate on Monday.
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Food trucks find patchwork of rules in northern suburbs

April 13, 2013
Andrea Muirragui Davis
As the food truck industry heats up in Indianapolis, leaders of its fast-growing northern suburbs are starting to rewrite the rules of the road.
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Finish Line expects sales to leap in Macy’s deal

April 12, 2013
Scott Olson
Becoming the exclusive athletic footwear partner of the department store chain could increase Finish Line's annual revenue as much as 30 percent, executives say. Finish Line apparel will start appearing in Macy's this weekend.
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Steak n Shake facing new suit over mandatory menu pricing

April 10, 2013
Scott Olson
Another Steak n Shake franchise owner is suing the company over its controversial practice that prohibits restaurants in the chain from setting their own menu prices, even after a federal appeals court sided with a franchisee.
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Simon taps Pace bonds to fund energy projects

April 8, 2013
Bloomberg News
Indianapolis-based Simon Property Group Inc. is among borrowers funding projects from rooftop solar panels to energy-savings systems using so-called Pace financing.
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Mobile boutique takes pop-up retail on the roadRestricted Content

April 6, 2013
Jill McCarter
Heather Hogan Pirowski, owner of Retro 101, is among a growing number of retailers who have chosen the nomadic lifestyle . Looking for an alternative to the fixed overhead of a permanent location, they set up shop at a site for a few days or weeks, then pack up and move on.
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Greenwood pet store stocked with exotic critters

April 5, 2013
Associated Press
From tarantulas to emperor scorpions and monitor lizards, Pandemonium Exotics caters to enthusiasts looking for pets beyond a dog or cat.
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Charlie & Barney's ends 36-year restaurant run

April 3, 2013
Scott Olson
Indianapolis chain Charlie & Barney's, known for its chili, has closed its flagship downtown location, leaving it without a restaurant for the first time since its 1977 founding.
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Appeals court upholds Marsh's $18.2M award from Roche

April 1, 2013
 IBJ Staff, Jennifer Nelson / The Indiana Lawyer
The Indiana Court of Appeals upheld an $18.2 million judgment Monday in favor of Marsh Supermarkets LLC on its complaint alleging that Roche breached a contract to sublease space in the Fishers building that houses Marsh’s headquarters.
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Senators stalling Indiana online sales-tax proposal

March 29, 2013
Associated Press
Some key state senators are sidelining a bill that would make Amazon.com and other online-only retailers start collecting Indiana's 7-percent sales tax this summer.
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Higher payroll taxes take toll on restaurants

March 28, 2013
Associated Press
So far, 2013 has been "a roller coaster ride" for Indiana eateries, according the state trade association's president. Industry observers say a 2-percent increase in the payroll tax is a likely culprit in a nationwide sales decline.
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Finish Line hits snag in new running segment

March 28, 2013
Scott Olson
The athletic footwear and clothing company said Thursday that its fiscal fourth-quarter earnings dropped 18 percent due to lackluster sales at stores open at least a year.
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Local REITs charge ahead of pack in bull market

March 27, 2013
Scott Olson
Indiana real estate investment trusts are hitting new highs while outpacing the bull market and their peers in the usually hardy and suddenly hot sector.
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Whole Foods shelves store slated for Fishers

March 26, 2013
Andrea Muirragui Davis
High-end grocery chain Whole Foods Market Inc. wants to triple the number of stores it operates, but the company has bagged plans for a location on 116th Street in Fishers.
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Bru, Mesh owner planning third eatery in Mass Ave neighborhood

March 26, 2013
Scott Olson
Mike Cunningham has signed a letter of intent to buy a building at 620 N. East St. that he said would house a "new American diner."
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Barron's enthrones Simon among world's best CEOs

March 25, 2013
Mason King
Already one of the most highly regarded CEOs in Indiana and in his industry, David Simon of Simon Property Group now is keeping company with the likes of Warren Buffett, Amazon's Jeff Bezos and Larry Page of Google.
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HHGregg manager sues over company's denial of bonuses

March 23, 2013
Scott Olson
Dwain Underwood charges the retailer should have included in its bonus calculations a $40 million life insurance payout it collected after executive chairman Jerry Throgmartin died last year.
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Two projects would give Nora Plaza a face-liftRestricted Content

March 23, 2013
Scott Olson
The developer of Nora Plaza is planning a $2 million redevelopment of a building that formerly housed Café Nora in the popular north-side shopping center, and anchor Whole Foods is expanding into 5,700 square feet of space north of its existing store.
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Steak n Shake’s value menu isn’t all that looks cheapRestricted Content

March 23, 2013
Greg Andrews
Investors may be undervaluing Biglari Holdings Inc., which owns Steak n Shake outright and holds 20 percent of Cracker Barrel.
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Centre Properties puts 3 strip centers into Chapter 11

March 19, 2013
Scott Olson
The Indianapolis developer said the bankruptcy filings are intended to prevent lender Bank of America from forcing the sale of RiverPlace Shops in Fishers, Raceway Market Shops in Indianapolis and Greenwood Crossing in Greenwood.
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With TV business ‘forever changed,’ HHGregg retoolsRestricted Content

March 16, 2013
Greg Andrews
CEO Dennis May said: "We see the HHGregg of the future as a home products store that also sells consumer electronics."
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Indy pet store raid finds hundreds of dead animals

March 15, 2013
Associated Press
Animal control officials who raided an Indianapolis pet store that failed an annual inspection say they found hundreds of dead small animals as well as other creatures living in filthy tanks and cages.
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Gerdt Furniture owners embroiled in $4M court fight

March 14, 2013
Scott Olson
A family dispute involving the owners of Gerdt Furniture & Interiors Inc. has led to a lawsuit accusing them of owing nearly $4 million in unpaid rent and loans.
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  1. How can any company that has the cash and other assets be allowed to simply foreclose and not pay the debt? Simon, pay the debt and sell the property yourself. Don't just stiff the bank with the loan and require them to find a buyer.

  2. If you only knew....

  3. The proposal is structured in such a way that a private company (who has competitors in the marketplace) has struck a deal to get "financing" through utility ratepayers via IPL. Competitors to BlueIndy are at disadvantage now. The story isn't "how green can we be" but how creative "financing" through captive ratepayers benefits a company whose proposal should sink or float in the competitive marketplace without customer funding. If it was a great idea there would be financing available. IBJ needs to be doing a story on the utility ratemaking piece of this (which is pretty complicated) but instead it suggests that folks are whining about paying for being green.

  4. The facts contained in your post make your position so much more credible than those based on sheer emotion. Thanks for enlightening us.

  5. Please consider a couple of economic realities: First, retail is more consolidated now than it was when malls like this were built. There used to be many department stores. Now, in essence, there is one--Macy's. Right off, you've eliminated the need for multiple anchor stores in malls. And in-line retailers have consolidated or folded or have stopped building new stores because so much of their business is now online. The Limited, for example, Next, malls are closing all over the country, even some of the former gems are now derelict.Times change. And finally, as the income level of any particular area declines, so do the retail offerings. Sad, but true.

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