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Indianapolis Business Journal - April 17-23, 2017

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In This Issue

Front Page

Missteps, market shifts bury once-thriving HHGregg

The 62-year-old company is joining the trash heap of failed appliance and electronics retailers, done in by a long list of problems—including overexpansion and a collapse in sales of consumer electronics.

Mind Trust drawing big dollars from national donors

The reputation the education reform group has engendered with its work in the city has spread—and therefore so has its donor base.


Top Stories

Marsh exit strategy: Sell individual stores?

Struggling Marsh Supermarkets’ best bet at this point would be to close underperforming stores and find buyers for its most profitable ones, industry experts say.

Local TV news stations abandon or reduce use of pricey choppers

The costly use of helicopters to cover weather-related stories, traffic accidents and snarls, and sporting events is on the decline nationwide.

Bill pits affordable housing against property rights

Affordable housing advocates are worried that a bill lawmakers sent to Gov. Eric Holcomb will exacerbate what they say is a shortage of inexpensive options for Hoosier families.

First quarter sees few big venture capital deals in Indiana

Indiana companies grabbed $27.3 million in venture funding in the first quarter, in line with other recent quarters. But nearly half of that amount went to one firm.

Quiet change found in Indiana bill could mean bigger voucher program

A bill that quietly crossed a crucial legislative hurdle last week would allow private schools to begin receiving state funding from their first day of operation.


Focus

City has plan for City-County Building plaza, but can it be done for $9M?

Rundell Ernstberger Associates' design features an interactive fountain and an event lawn accommodating up to 1,500 people. The first proposal, from another architect, was scrapped because it was too expensive.

Exterior of downtown bank headquarters getting major overhaul

The National Bank of Indianapolis is set to begin upgrading the facade of its flagship location at Pennsylvania and Market streets—the first improvement to the building's outside in more than 40 years.

Indianapolis furniture manufacturer relocating to Whitestown

Facility Concepts Inc., one the country’s largest commercial furniture makers, plans to move its headquarters and 117 jobs to a $10 million development in AllPoints at Anson by Duke Realty and Browning Investments.

Top Simon exec exiting company

David Contis, Simon Property Group's president of mall operations, is resigning from the Indianapolis-based retail real estate giant to "spend more time with his family," the firm said in an SEC filing.


A&E, etc.

LOPRESTI: Pitcher Josh Lindblom’s story is more than you see on mound

Victory Field's proximity to Riley Children's Hospital makes it the perfect home after time in majors.

LOU'S VIEWS: Inspired by vinyl

James Brown, President Trump, Malcolm X and more make appearances in latest exhibit by artist Lobyn Hamilton.

DINING: Revisit yields rewards at new Mile Square Bistro

After a second trip to Mile Square Bistro, what lingered were the flavors and not the cost.


Opinion

EDITORIAL: Don’t price public out of public records

Gov. Eric Holcomb should veto House Bill 1523.

MORRIS: A frustrating tale of credit card fraud

Sometimes the security process that we depend upon goes haywire.

SINDER: Ricker’s ‘restaurant’ is unfair interpretation of alcohol laws

Ricker’s end-around of long-established state law is not a one-time occurrence; it is instead just the latest in a years-long battle to fix the game in a way that would favor his business.

FLORIDA & HUBER: Indy’s urban opportunity: high tech investment, inclusive growth

Across the nation, a new age of “winner-take-all” urbanism has emerged; a small group of elite cities reap the spoils of migrating talent. Cities become increasingly divided into pockets of prosperity and poverty.

FEIGENBAUM: Typical tensions set up final legislative debates

Five different tensions typically intersect to shape legislative activity, and will do so again as lawmakers look to leave Indianapolis April 21 or 22.

URBAN DESIGN: Living on the edge with public space

It's all about the details when it comes to parks, plazas and streetscapes.

SKARBECK: Investors may find bargains among out-of-favor retailers

Nine retailers have filed for bankruptcy in the first three months of 2017, a pace that would exceed the 18 bankruptcies recorded in 2009.

BOHANON & STYRING: Don't get carried away with 'America First'

America First is a nice slogan, but let’s not push things too far.

LETTER: Single-payer idea flawed

Costs associated with obesity and life style are 70 percent of the result of high-cost care.

LETTER: Ricker’s played by rules

Ricker’s met the qualifications for an in-store restaurant alcohol permit by having $200,000 in food sales and a dining room capacity of at least 25. He went through the public hearings and was approved by both the local board and the ATC.


In Brief

China auto-parts maker to build $80M plant in Greenfield, hire 441

A Beijing-based manufacturer of brake and suspension systems has chosen the Indianapolis area as the site of its first U.S. production facility.

Email software firm 250ok plans to invest $1.6M, add 53 jobs

The company, which develops email-management software, plans to add space at its existing headquarters at 9247 N. Meridian St.

F1 driver Alonso to miss Monaco Grand Prix to race at Indy 500

Two-time Formula One champion Fernando Alonso plans to race for McLaren at the Indianapolis 500, marking McLaren's first Indy 500 appearance in 38 years.

Chamber to bring national pitch program for entrepreneurs to Indy

Called 1 Million Cups, the weekly program has a format designed to be more collaborative and educational than more typical pitch events. It's already in more than 100 other communities.


Records

Records for May 15-21, 2017

Here are the records listings for May 15-21, 2017.

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