Indianapolis Business Journal - June 5-11, 2017
In This Issue
Landlord's Marsh bet leaves trail of foreclosures
Landlords across Indiana are feeling the pain from the collapse of Marsh Supermarkets, but none more so than a Canadian firm that had as many as 12 of the grocer’s stores in its portfolio.
Lids embraces digital revolution, adapts to shifting shopping habits
CEO David Baxter, who was hired in May 2016, is aiming to marry the best of online retailing with brick-and-mortar stores, to lift the company’s profit margin to where it was five years ago.
Lumina kicks venture capital arm into high gear
Over the past year, Indianapolis-based Lumina Foundation has aggressively moved in a novel direction for a grant-making not-for-profit, funneling more of its $1.2 billion endowment into venture capital.
Subpoena scuffle puts American Senior Communities fraud case on contentious course
Prosecutors argue that subpoenas issued by counsel for the nursing home company's former CEO are overly broad and "an abuse of process."
Bellwether Cook blood-clot-filter case heads to trial
The first case against Bloomington-based Cook Group from patients who say the company’s blood-clot filters malfunctioned is headed for trial this fall in Indianapolis.
Demand for welders outstrips worker supply
Facing a tight market, area employers are using headhunters, offering signing bonuses and developing in-house training to fill open positions for welders.
Charities caught in Celadon founder’s estate dispute
Several local not-for-profit and community groups are caught in a family dispute over the $31 million estate of Stephen Russell, the Celadon Group Inc. co-founder who died last year at age 76.
New owners of Gold Building weighing restaurant or office addition
The project could take shape on property directly adjacent to the City Market, in addition to $8 million in renovations planned to spiff up the Gold Building and a neighboring office complex.
UPDATE: Fishers plans to develop 70-acre park on Geist Reservoir
City officials are determined to acquire the land to bring public recreation to the area largely populated by private, upscale homes. They're willing to use eminent domain if necessary.
Fever try to keep sponsorship, ticket sales up as star moves to front office
Fueled by the farewell tour of 15-year veteran and fan favorite Tamika Catchings, the WNBA team had a stellar 2016 in terms of attendance and revenue. But Fever officials are more intent on looking forward than back as the 2017 season tips off.
LOPRESTI: 82-year-old coach embarks on last turnaround project
Jerry Hoover has revived more high school basketball programs than you can count on one hand.
LOU'S VIEWS: Mini golf returns to the IMA
After a successful opening round last summer, mini golf has returned to the Indianapolis Museum of Art with a mostly new set of 18 artist-designed links.
EDITORIAL: Best innovation may be investment in people
Indiana should try to boost the state’s anemic population growth and fuel its economy by pulling out all the stops to attract talent, starting with luring Hoosier ex-pats back home.
CATE: Planning matters in climate battle
Indiana University has announced a $55 million initiative—Prepared for Environmental Change—in collaboration with a bipartisan coalition of government, industry and community leaders. It is part of IU’s Grand Challenges commitment to address some of the most critical issues facing our state.
KENNEDY: Framing the social safety net
Attitudes about social welfare can be divided into two utterly incompatible categories: The use of citizens’ tax monies to provide a safety net is viewed either as charity or as self-interest, properly understood.
STAUFFER & SCHLOSS: Focus should be on preventing unintended pregnancies
It astonishes us that politicians continue their assault on birth control and the medically underserved.
BOHANON & STYRING: Federal spending never forgets a crisis
During a crisis, government grows in scope, power and budget. All recede somewhat after the crisis. But never to pre-crisis levels.
KIM: Kushners throw spotlight on dubious EB-5 program
Unlike the original aim of EB-5, many projects that qualify would have happened anyway. Access to cheap financing just increases profits of developers.
LETTER: Vonnegut Museum persists
We are gathering steam, garnering loyal local support at all levels, national recognition, and international press and continue to prove our worth.
California man accused of defrauding former Colt of more than $4.5M
Kenneth Ray Cleveland stands accused of defrauding a 13-year NFL player while serving as his financial adviser.
Indy-based restaurants to open new locations in Fashion Mall
The additions to the food court will include a concept from Cafe Patachou founder Martha Hoover.
IEDC's Steff to join Trump's Department of Commerce
Ian Steff, who was named Indiana’s first chief innovation officer less than a year ago, accepted a position in the Trump administration this week to help boost domestic manufacturing.
UPDATE: Noblesville says museum mishandled chemicals on park grounds
City officials said Wednesday that they have asked the Indiana Transportation Museum to clean up the contamination. An ITM official suggested the city's move was motivated by a debate over the fate of the Nickel Plate Railroad.
Records for June 5-11, 2017
Here are the records listings for June 5-11, 2017.