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Indianapolis Business Journal - February 2-8, 2018

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In This Issue

Front Page

High-end homes enjoy golden sales year

Home sales of $1 million or more in the Indianapolis area have skyrocketed 143 percent since 2012. Last year, nearly 150 such homes were sold, compared to only 61 five years ago.

Ordinance would tie hotel licenses to police and fire runs

City officials are considering an ordinance to crack down on hotels and motels they say are a magnet for crime, pose a danger to area residents, and drain city police and fire resources.


Top Stories

Cunningham stable of eateries is about to get even bigger

Serial restaurateur Mike Cunningham's stable of eateries has swelled to 24,and he's taking over the closed Old Point Tavern on Massachusetts Avenue and Cerulean at The Alexander hotel in CityWay.

Amazon’s incentives sure to be whopping

Any tax-incentive package to lure Amazon’s HQ2 to Indiana could easily top half-a-billion dollars and climb to more than $1 billion.

Co-conspirator in bribery scheme aims to avoid slammer

With the help of friends and family who wrote letters in his support, the first defendant avoided prison time. The second, who's also casting himself as a model citizen who exercised bad judgment, is hoping for the same outcome.

Banks poised to reap big gains from tax reform

Bankers and industry experts say the federal tax reforms passed late last year will give an especially big boost to banks.

Former T2 exec embarks on downtown car club, auto storage project

Mike Simmons has bought the former Chef's Academy on East Washington Street and is refurbishing the building to appeal to car enthusiasts by adding meeting and event space.

Eleven to play rent free at Lucas Oil Stadium, bigger crowds expected

A deal to split the expenses of operating the 67,000-seat venue for 14 or 15 Eleven games this year is still being finalized.

With Carson's out, what's next for Circle Centre?

Real estate experts disagree over whether the prominent downtown space being vacated by Carson's makes more sense for another retailer (perhaps Target?) or for an office user.


Focus

Under-the-radar IEA Energy becomes big player in wind-farm construction

The Indianapolis-based company, which began with a single dump truck 71 years ago, is about to go public in a merger worth up to $345 million.

East Chicago coke plant hit with $5M air-pollution fine

The settlement, announced Jan. 25, also requires the plant's owners to spend $250,000 on lead abatement.

IURC chairmanship attracts 7 candidates

The five-person commission regulates $14 billion in electric, natural gas, telecommunications, water and sewer utilities. It approves utility projects and determines how much utilities can charge customers.

Citizens Energy earned $90M in latest fiscal year

Citizens Energy Group said profit nearly tripled, to $90.1 million, on higher operating revenue in the fiscal year ending Sept. 30.


A&E, etc.

LOPRESTI: Langford chasing legends on state all-time scoring list

We travel from Lebanon to Lewisville and beyond to see what the keepers of history are thinking.

LOU'S VIEWS: Gutsy Buck Creek takes rarely revived ‘The Rink’ for a spin

Antique hunters get excited about finding items seemingly lost to history. So do musical theater buffs.

DINING: Pizza and wine bar in Greencastle is well worth the trek

A top Indy chef posted about a great restaurant an hour away. So I hopped in the car.


Opinion

EDITORIAL: City must devise Circle Centre plan

A hulking retail property pocked with vacancies sends a terrible message about Indianapolis’ vitality to the throngs of conventioneers who walk its corridors.

FELTMAN: First of a three-part letter to Jeff Bezos

Bbased on our history and trajectory, it’s a pretty good bet that Indiana will continue on the path of good and innovative government, allowing your company to operate more efficiently here, thus allowing you to hire more talented colleagues and make more investments in your company.

KENNEDY: When opportunity knocks

A thoughtful revamping of the I-65/I-70 split can improve traffic flow, restore community connectivity and spur new economic development downtown.

BOSTIC: Using AI to combat opioid abuse

Indiana is extremely progressive in its response to the opioid epidemic, pursuing a data-driven approach coupled with tactical steps to broaden access to treatment centers.

FEIGENBAUM: Millennial legislative leader prepares for next role

Rep. David Ober isn’t destined to remain a lawmaker. He’s asked the IURC Nominating Committee (four former legislators are among its seven members) for its consideration to fill the IURC vacancy.

SKARBECK: Stock markets overseas may have more upside

With the United States perhaps in the later stages of an extended bull market, many pundits expect international and emerging stocks to outperform domestic stocks going forward.

BOHANON & CUROTT: Listen to statistics, but dig deeper for the truth

A statistic presented to buttress a particular political argument can, through a simple mathematical transformation, support an entirely different point of view.

LETTER: Raise women’s pay

House Bill 1390 and Senate Bill 93 hold employers accountable and give the Civil Rights Commission the jurisdiction to investigate and resolve complaints received by employees.

LETTER: Give us back our vote

Hoosier voters should choose their elected officials, not the other way around.


In Brief

Speedway to offer spendy lodging in tiny houses for Indy 500 weekend

For folks who want something a little more structurally solid than glamping but more homey than a hotel, the Indianapolis Motor Speedway plans to offer lodging for this year's Indy 500 in pint-sized houses.

Fishers organizing new event to replace Freedom Festival

The city of Fishers on Tuesday announced a new event to replace the Freedom Festival—a 29-year-old summer celebration that was called off last year over financial issues.

Banks to sell off five Indiana branches as part of $1B merger

Cincinnati-based First Financial Bancorp and Greensburg-based MainSource Financial Group have agreed to sell off five bank branches in Indiana to resolve regulatory concerns that could stand in the way of their planned merger.

Original Circle Centre jeweler closes doors

Workers at Andrews Jewelers on the second floor of the downtown mall could be seen on Monday packing up gems and baubles behind security gates.

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