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Indianapolis Business Journal - August 7-13, 2017

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In This Issue

Front Page

IndyGo uses eminent domain against unhappy businesses along rapid-transit line

A court battle is escalating between IndyGo and property owners along the proposed Red Line route fighting to protect their land from becoming part of the rapid-transit bus system.

Anthem takes harder line on ER visits

Starting Oct. 1, Anthem said, it could deny claims for hundreds of non-emergency diagnosis codes, such as bruises, rashes, minor burns, swimmer’s ear and athlete’s foot.

Radio ‘rebel’ WTTS unlikely success story

It’s one of the few stations in Indiana where listeners can hear—in the same hour—old-timer Bob Dylan, up-and-comer Imagine Dragons, superstar Adele and an unknown basement band.


Top Stories

Holcomb preparing to put $250M into startups

The state’s new Next Level Fund will invest up to $250 million over the next decade into a need Hoosier startups are starving for—venture capital.

Produce distributor Caito opens $32M facility that makes prepared foods for groceries

In January, the produce distributor opened a $32 million facility designed to cook and package meals and side dishes such as salads, pasta, deli meats and pinwheel sandwich wraps.

Cabinet post aims to unify state workforce efforts

As the incoming secretary of career connections and talent, Milo faces the task of unifying and clarifying a system that has been described by top Indiana leaders as disjointed.

National Lampoon sale closes book on era rife with scandal

Philadelphia-based PalmStar Media has bought National Lampoon Inc., a deal that severs the final ties between the company and a contingent of Indianapolis shareholders, including convicted fraudster Tim Durham.

Five Seasons sports club in Carmel to close in September

Company officials say the closure will be permanent and cost 84 employees their jobs. The decision comes a year after the owner of the club filed a request to rezone the property to allow for possible redevelopment.

Developer of $37M downtown apartment project seeks new construction schedule

Investment Property Advisors needs the adjustment to still qualify for a property-tax abatement tied to a second phase to its 9 on Canal apartment project.

PROXY CORNER: Determine Inc.

Carmel-based Determine Inc. develops and sells procurement software.


Focus

IMS revs up relationships with bevy of local tech firms

The Speedway contracts with nine software companies and four tech-services firms that are either based in central Indiana or have a substantial local outpost.

Tech jobs announcements in 2017 already top total for all of last year

Technology firms accounted for nearly one-third of job commitments announced by the state so far this year, the highest share among all industries.

Study: Indiana ranks 17th in data innovation

The rankings are based on three areas considered key to enabling data-driven innovation: “the availability of high-value data sets, the creation of important technologies, and the development of human and business capital.”

Elevate provides $1.5M to southwestern Indiana

A pool totaling $2.5 million will fund investments in local businesses, portfolio services, events for entrepreneurs and investors, marketing support, business coaching, access to professional resources, and more.

Amazon, in another sign of growth, holds job fair to hire 40,000-plus

About 1,500 of those hirings are expected to take place at the company's Whitestown facility, northwest of Indianapolis.


A&E, etc.

LOU'S VIEWS: Packaging science at State Museum

Plus Indiana limestone and the return of the Hoosier Salon.

DINING: Caplinger’s catches on with third area seafood location

Skepticism is understandable when it comes to seafood dining in the Midwest. Here's a reason to believe.

LOPRESTI: Vendors, ushers, security guards are familiar stadium faces

Consider Bill Hoke. Even a stroke couldn't keep him from his post at Hinkle Fieldhouse.


Opinion

EDITORIAL: City gets creative with Carrier cash

The city of Indianapolis' unusual offer to spend up to $2,000 per displaced Carrier employee deserves careful evaluation to determine its effectiveness.

MORRIS: Mayor Hogsett to be in hot seat

A fundraiser for Indianapolis Legal Aid Society promises good-natured ribbing for a good cause.

McCABE: The good, bad and ugly of Paris pull-out

What difference will our country’s withdrawal really make? There’s both good news and bad news.

CORLEY: Big-picture thinking can get you promoted

I will always remember a quote from my mentor, Ray Brown at Duke University: “You can’t keep your eyes on the hills when your nose is on the grindstone.”

LETTER: Media needs to look at reality of ACA

This standoff started when the ACA was force fed through the Democratic-led House and Senate, along partisan lines, as part of a partisan agenda, and among lies about the legislation’s effect on those who had health care.

LETTER: Short-term rentals unfair to others in neighborhood

The issue is not about governmental regulation but about the “sharing” property owners stealing value from their neighboring property owners.

BOHANON & STYRING: Don't sweat artificial intelligence. We'll adapt.

Ever since the dawn of the Industrial Revolution, we've been substituting machine power for muscle power. The main consequence has been that life has gotten better.

SKARBECK: After 8-year bull market, it's time to get cautious

A virtuous circle develops as rising tech stocks continue to attract new buyers and index funds must continue their purchases to maintain their proportion in the index.

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