Indianapolis Business Journal - March 9-15, 2018


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In This Issue

Front Page

Recruiting scandal hangs over March Madness

The tournament has become so big that sports experts doubt a federal investigation alleging dozens of prominent players, coaches and schools broke NCAA rules will hurt sponsor support.

Simon sisters among top political donors nationwide

Carmel philanthropists and sisters Deborah Simon and Cindy Simon Skjodt have become big-time campaign donors this election cycle.

State set to unleash new venture funding

The Hogsett administration and the City-County Council are weighing whether to kill a little-known organization that has quietly worked the past two decades on the redevelopment of key downtown projects.

Top Stories

Critics say downtown development group should go

The Hogsett administration and City-County Council are weighing whether to kill a little-known organization that has quietly worked for two decades on the key downtown redevelopments.

After split driven by succession planning, family-owned Crew Carwash is in growth mode

This year, Indianapolis’ largest car wash chain—which is also one of the nation’s largest—marks its 70th anniversary. Sort of.

Greenwood firm ensnared in case involving Manning, Al Jazeera

A private-investigations firm hired by Peyton Manning’s lawyers is facing a broadcaster’s petition to turn over information it uncovered about a documentary.

Adviser admits defrauding former Colt of $4.7M

Under the terms of the plea agreement, Kenneth Ray Cleveland of suburban Los Angeles is required to make restitution to former Colt Cory Redding.

Q&A: Indy Pride’s first staffer says RFRA became a ‘real overall positive’

Chris Handberg, 38, worked at the Domestic Violence Network, The Julian Center and as a youth pastor in Anderson before becoming executive director of Indy Pride.

IPS delays tax-hike referendums to November after criticism

Indianapolis Public Schools is backing off on its plan to ask voters in May to support a major tax hike to pay for the city's schools, instead deciding to work with the Indy Chamber to revise its proposal and delay the referendums until November.

Highland sets new course with $1.6M golf-training academy

As part of a strategic plan to guide it into the future, the 99-year-old golf club has an arrangement to share the 9,200-square-foot indoor training facility with Butler University, which uses Highland as its home course.

Buyers of east-side relic proposing $30M redevelopment for schools

The long-vacant P.R. Mallory building on East Washington Street is closer to becoming occupied, after plans to bring the Purdue Polytechnic High School there stalled over higher-than-expected renovation costs.


Banks have returned to commercial real estate in a big way, but regulators urge caution

The segment crashed in the financial crisis that began in 2008, forcing banks to write off billions of dollars in loans. But it’s roared back since, and last year national commercial real estate lending surpassed its 2008 peak.

Transaction data suggest bitcoin may be losing popularity

The average number of trades recorded daily has roughly dropped in half from the December highs and touched its lowest in two years last month, even as bitcoin became a household name and roared back to near $11,000.

$1B First Financial-MainSource deal gives boost to army of advisers

Completing the transaction will be highly profitable for the investment banking firms representing the institutions.

Former stockbroker Buck to be sentenced in April

Thomas. J. Buck, a former top investment broker who was fired by the local office of Merrill Lynch in 2015 after nearly 34 years with the firm, is scheduled to be sentenced next month after pleading guilty in January to one count of securities fraud.

U.S. problem-bank list continues to shrink

The number of financial institutions on the Federal Deposit Insurance Corp.’s problem-bank list has fallen below 100 for the first time in a decade.


EDITORIAL: Foreign trade trips are must-dos in today’s world

In all, international trade supported more than 812,000 jobs in 2014, a number that’s almost certainly grown. That’s more than one of every five jobs in the state. Those kinds of numbers don’t happen by chance. 

MORRIS: Suburbs shouldn’t turn backs on Indy

It's not unreasonable to consider regional taxing solutions for infrastructure.

KENNEDY: Blaming the victim will not fix the problem

Right now, that “blame game” describes some of the arguments being made by opponents of Indianapolis Public Schools’ operating referendum—which has now been put off until November.

SINGELL: Deconstructing the myth of the English major

Some might not realize the liberal arts encompass most of the STEM disciplines and provide unparalleled preparation for professional graduate school. 

FELLA: Let’s take the executive out of ‘executive presence’

Authentic, unique presence comes from the inside out, not the outside in. In other words, it can’t be created by someone else telling you how to act.

FEIGENBAUM: Lawmakers coasting to session end with no drama

Now that Hoosiers can purchase alcohol at retail on Sundays thanks to (technically) emergency legislation signed into law even before conference committees had begun to convene, some even question why legislators should stay in Indianapolis through March 14.

KIM: Did you pass or fail February’s market test?

Pundits blamed the correction on fears over rising inflation/interest rates, a more “hawkish” Fed, and the breakdown of a misused option product used to place leveraged bets on market volatility.

BOHANON & CUROTT: No, trade wars are not easy to win, Mr. President

Apparently, Trump thinks he is declaring war on foreigners. But in reality, he is declaring war on Americans.

In Brief

National tour of 'Hamilton' coming to Indianapolis

Broadway phenomenon “Hamilton: An American Musical” is scheduled for Indianapolis as part of an upcoming national tour of the show, but fans will need to be patient.

Purdue online school gets final regulatory approval

The school said Purdue University Global received a notice of approval Monday from the Higher Learning Commission, a regional university accrediting body.

Manufacturer plans $72 million plant, 89 jobs in Lebanon

The company that makes the water-soluble film used to create products such as Tide Pods and Cascade ActionPacs plans to break ground on the 150,000-square-foot manufacturing plant this summer.

Ownership changes ahead for Corner Wine Bar

The restaurant and watering hole has been a Broad Ripple fixture since its opening in 1982. Its current owners say Wednesday will be the final day of operation on their watch.

Mainstreet nixes ambitious Arizona plan, terminates at least 70 workers

The Carmel-based developer and operator of senior care facilities blamed high start-up costs and a challenging reimbursement environment for decision to pull out of Arizona.


GUNTERMAN: Lawmakers put suppression over free speech

Welcome to Indiana schools, where the First Amendment is merely a portion of a social studies exam.

TANSELLE: Student media must be treated as part of curriculum

Students have other avenues for the expression of their free speech rights without interference or regulation by school administrators.

SHEPARD: Driveable streets or wider interstates?

We have the chance to rethink the community we should be building for future decades.

WOLLEY: The rural and urban divide on guns

The General Assembly seems to think we need more access to guns and less regulation. I think we need less access.

SHELLA: Time for a balanced approach to gun debate

I know guns are not the sole factor in the recent flurry of mass killings in America, but they are a factor.

LEPPERT: Why Georgia? Yes, you are definitely on my mind

The nation is experiencing another cultural shift in the debate on gun violence. The private sector has entered the fray.

HALE: Parkland massacre exposes promise of young people

These kids are seizing their power to take a stand in sophisticated and effective ways unique to themselves.

WAGNER: When bad things happen, criticizing doesn’t help

I'd just like it if people took a deep breath before they jumped into the debate. These are difficult situations.

DANIELS: With Amazon, we shouldn’t sell ourselves short

Our humility may serve us well, if we can just avoid the strong temptation to undersell ourselves.

RITZ: Unlicensed teachers in public schools is a bad idea

Use the emergency permit if you must, and put in supports toward licensing.

PARR: Judge policy decisions on results, not intentions

Freedom is messy. That is not to say we should sit idly back and say, 'That's just the way it is.'

SMITH: Quest for affluence has left us with poverty of the soul

Smart TVs everywhere, free WiFi and Obamacare do not assuage the poverty of the soul.

SIDDIQUI: Close Islamic center vote shows we have work to do

As a former civil rights investigator, I have rarely heard prejudice stated directly.

SHABAZZ: Good riddance to the horrific reign of Stephen Clay

It's people like Clay and his supporters who give Indy a bad name and it's why they should never be allowed anywhere near power or authority.


Cocktails the pros swear by

Top Indy bartenders didn't don't merely follow recipes and serve drinks. They savor the complex interplay among ingredients and have strong opinions about what makes a great cocktail.

LOPRESTI: Sectional week … where the excitement lives

Packed gyms and old rivalries are still staples of the tournament's first weekend.

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