Indianapolis Business Journal - August 31 - September 6, 2018

Indianapolis Business Journal - August 31 - September 6, 2018


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In This Issue

Front Page

Tax appeals mushroom as Lilly, city squabble over years of assessments

The Indianapolis-based drugmaker has appealed its annual tax bill for its two massive campuses south of downtown every year since 2012.

United Way revamping approach to funding

Some social service leaders are worried about the shift in strategy toward grant allocations and away from annual allocations.

Top Stories

Dental care out of reach for many poor Indy residents

In Indianapolis’ 10 poorest census tracts, 60 percent of residents had not visited a dentist within 12 months, according to an IBJ analysis of CDC and Census Bureau research. But in the 10 tracts with the lowest poverty rates, just 25 percent hadn’t.

Homeowner groups step into short-term rental controversy

Airbnb reported that Indiana renters hosted 175,000 guests in 2017, who collectively earned more than $21 million by making their spaces available to travelers. But some homeowner groups want to ban the practice.

Dwarfed by rivals, Office360 is growing, acquiring other firms

The Indianapolis-based office-supplies company had revenue near $38 million last year and is on target to hit $43 million this year. If the company hits its projections, revenue will have nearly tripled since 2013.

ITT Educational’s CEO, directors scoff at $250M lawsuit

Attorneys for the defendants have asked the court to discuss the case, arguing it falls far short of the standards needed to warrant a full-blown trial.

Q&A:Gregg Keesling helps former inmates stay out of jail

Gregg Keesling runs the Indianapolis social enterprise RecycleForce, which provides transitional jobs to formerly incarcerated people in its electronics recycling operation.

State lawmakers inquire about plans for Nickel Plate Railroad

Two lawmakers sent letters to the Indianapolis City-County Council this week encouraging them to investigate whether the city owns any portion of the Nickel Plate Railroad line.

IPS starts process of finding new uses for Broad Ripple, John Marshall high schools

IPS is first seeking potential “civic and public uses” for the schools. But it also plans to study other opportunities, such as residential, retail or commercial opportunities.

UPDATE: City to cap number of scooters Bird, Lime can bring back to Indy

The companies, which applied for licenses this month, received final approvals Tuesday and were given a date for when they can resume service in Indianapolis.


Developers say Stringtown near downtown could become hot spot

Stringtown is surrounded by activity or proposed activity: at IUPUI to the east, 16 Tech to the north, the former Central State Hospital site to the west, and the former GM stamping plant to the south.

All-Star Real Estate Agents: The Indy area's top teams and solo sellers

Three longtime high performers retain the top spots in IBJ's All-Star team rankings, while Mike Duncan marks 20 years as an agent by topping IBJ's list of solo stars.

Retiree goes modern, spare in Fountain Square home

After scouting around the Fountain Square area for an empty lot on which to build, Mike Wright discovered the work of architect Brian Burtch, principal at Neon Architecture.

Residential Real Estate: Marketplace for August 31, 2018

While the number of homes for sale has crept up through the summer, the available inventory still lags last year significantly.


EDITORIAL: Lilly acted inappropriately when it pulled logo off Daly’s car

We understand that companies face difficult decisions when it comes to protecting their brands. But IBJ posits that Lilly's decision to punish a race car driver for something his father said before he was born is the kind of decision that can set back progress made on racial tolerance and equality.

MICKEY MAURER: Put these Hoosier authors on your ‘to read’ list

Here are three books you should take on a fall or winter getaway.

Mike Smith: If we can put a man on the moon, we can beat poverty

Of course, poverty is everywhere, but it is worse in Indianapolis than in most major metro areas. Our general poverty rate of 20.8 percent and our child poverty rate of 31.9 percent are both well above national averages, and we are one of the 10 worst cities in America when it comes to economic mobility.

Chris Watts: John McCain, Bob Dole and the soul of Indiana’s GOP

John McCain and Bob Dole both put national interest over political expediency: country first, to crib McCain’s 2008 slogan. If we defined a “Dole/McCain Republican,” he or she would be a traditional conservative with a streak of pragmatism, a willingness to compromise and an appreciation for bipartisanship.

Santiago Jaramillo: How Crew Carwash excels at customer service

Employees at Crew are not only encouraged to use their best judgment; they’re praised for it. Recognition is a crucial part of the company culture, and managers frequently recognize team members via meeting shout-outs, mobile push notifications and personal interactions.

KIM: Purdue revolutionizing college finance with Back a Boiler

If the Purdue degree is valuable and leads to a well-paying job, Purdue and the student both benefit. If not, Purdue absorbs some or even all the financial pain.

BOHANON & STYRING: Our robust growth isn’t sustainable without fundamental change

Is the current GDP growth the beginning of a new period of robust 20th-century-like growth? Or simply a one-time growth spurt that will revert to the anemic growth of recent decades?

Letter: IPS surplus depleted by state cuts, inflation

For a district with an annual budget of about $260 million, it is easy to understand that steadily decreasing state revenues, inflation, a long-overdue increase to teacher pay and holding the cost of employee benefits neutral would quickly deplete an $8 million surplus from the prior year.

In Brief

Husband-and-wife team rehabbing former hospital as apartment building

Justin Stuehrenberg and Katherine Bannon bought the 77-year-old brick edifice in the emerging Bates-Hendricks neighborhood for a song and completely gutted it. The new apartments will be available for lease next month.

Work begins on remaking former Milano Inn restaurant site

The South Bend-based developer that last year bought the landmark restaurant and the block on which it sits is searching for office and retail tenants for the space.

IndyCar awarded $3.9M for scrubbed Boston races

A race organizer’s failure to bring promised IndyCar Boston Grand Prix Labor Day weekend races to the finish line has resulted in an award of nearly $4 million in damages to the open-wheel racing series.

National event center operator makes plans for first Indiana facility

A Utah-based company that runs dozens of event centers across the United States is making plans to open its first Indiana venue, in Carmel.


Records for Aug. 31-Sept. 6, 2018

Here are the records listings for Aug. 31-Sept. 6, 2018.


MIKE LOPRESTI: At kickoff time, let’s review some interesting anniversaries

From a rare Hoosier victory to Knute Rockne's hiring, these are football events worth remembering.

Whether for team building or birthday partying, getting out of a locked room is all the rage

You’ve got exactly one hour before the bomb explodes/the boat sinks/the guards realize you are escaping from prison. Can you and your co-workers, pals and/or family members get out in time?

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