Indianapolis Business Journal - December 7-13

Indianapolis Business Journal - December 7-13 - 2018


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In This Issue

Front Page

2019 mayoral, council races taking shape

With city elections less than a year away, Mayor Joe Hogsett has a big campaign war chest, with at least $2.2 million as of January, the latest filing available.

Unique CEO leads torrid Salesforce expansion

The driving force behind the explosive growth of Salesforce’s Indianapolis-based Marketing Cloud unit stays out of the local spotlight but is internationally renowned in tech circles.

Restless retiree rebuilds storied speaker brand

In the little less than two years since Dave Kelley bought KLH, the company has developed more than a dozen new audio products.

Top Stories

Entrepreneur finds financial success with deep-tissue therapy

Entrepreneur Michael Arnolt teamed with an inventor more than 20 years ago to launch an enterprise that has sold thousands of steel therapy instruments and trained thousands of clinicians.

In an era of TV merger mania, WTHR still standing pat

The frenzy of deal-making inevitably leads to speculation about the future of WTHR-TV Channel 13—which, incredibly, has been under the ownership of the same family—the Wolfes of Columbus, Ohio—since 1975.

Pacers Bikeshare rolling out major expansion in 2019

The Indiana Pacers Bikeshare program plans to roll out 23 new stations next summer—some of which will be miles away from the Mile Square.

Q&A with Chelsea Haring-Cozzi, CHIP's new executive director

Chelsea Haring-Cozzi knows, through a close relative’s experience, how important a safety net can be in keeping people from becoming homeless.

IPS leader Ferebee takes top job in Washington, D.C., school district

Lewis Ferebee will be the next chancellor of D.C. Public Schools, officials announced Monday, leaving a leadership hole at Indianapolis Public Schools, where he has served for five years.

Council Dems seek to raise $1M from increased parking meter collections

The proposal would decrease the hours in which free parking meters are available across the city, extend fee hours on certain days, and impose Sunday parking meter fees.

Browning plans $157M mixed-use development in downtown Fishers

The project is slated for the north and south sides of 116th Street and will include residential, retail, a high-end boutique hotel and a six-story office building.


After years of effort, 16 Tech innovation district finally starting construction

Developers of 16 Tech—a consortium of offices, laboratories, housing and retail space—believe the campus will become a powerful economic engine by fostering collaboration and innovation.

Proposed Fishers workforce housing project misses out on tax credits

RealAmerica Development LLC's plan to build 70 income-based apartments in downtown Fishers has been passed over for housing tax credits that would have helped finance the project.

Local apartment brokerage Tikijian Associates bought by Cushman & Wakefield

George Tikijian, who founded the company in 2005, said the deal was finalized Thursday following several months of internal deliberation.


Editorial: City would benefit if Hogsett faces stiff re-election fight

It’s preposterous that Republicans find themselves in this predicament. There are plenty of issues on which Hogsett should be vulnerable, from last spring’s pothole catastrophe to his continued struggles to combat violent crime.

NATE FELTMAN: It’s time for us to act on talent initiatives

Legislature should view all matters that come before it in 2019 through a human-capital lens.

Sheila Kennedy: Challenges to democracy come from within

Gerrymandering is a frontal assault on democracy. A pre-midterm electoral analysis from the Cook Report really brought home the extent of that assault: Just one out of 20 Americans lives in a competitive Congressional District.

Michael Farren & Anne Philpot: Indianapolis dodged the Amazon HQ2 iceberg

Many politicians and economic development officials see the ruse for what it is, but they feel trapped because every other city and state is doing it. Politically, they can’t risk letting their neighbors outcompete them.

KIM: Break free from anchors, short-term focus to boost returns

The problem with anchoring is, it fails to recognize the extreme volatility inherent in stocks.

BOHANON & CUROTT: State sometimes benefits too much from civil forfeiture

Economists view fines, forfeitures, jail sentences or other sanctions as a “price” imposed on undesirable activity. But if the price is too high, punishment becomes disproportionate to the crime.

Westerhaus-Renfrow: Lesson from losing Amazon—attract more millennials

Indianapolis needs to attract out-of-state millennials. And this needs to happen quickly. Perhaps the best starting point for shifting workforce demographics is to look around and see which states are successfully attracting millennials.

Letter: Democrats divide us by harping on diversity

True equality will never occur until we concentrate on electing the most qualified person regardless of sex, race or sexual preference.

Letter: Civility is a virtue

Civility is seen as a vice instead of a virtue and creating an environment of xenophobia and nationalism to gain short term policy wins is unwisely lauded.

In Brief

Greenwood-based One Click Ventures acquired by eyewear heavyweight

Randy Stocklin, who founded the company with his wife, Angie Stocklin, will remain with the company.

North-side office buildings sell for $17M

The two properties straddling the Castleton and Lake Clearwater areas recently received slick updates from their previous owner.

Council approves Marion County's switch to vote centers starting next year

Marion County voters will be able to cast their vote at any polling place in the county starting next year as Indianapolis becomes what is known as a “vote center” county.

Big Ten football title game draws second-largest crowd in 7 years

The spectators on hand for Ohio State’s 45-24 defeat of Northwestern at Lucas Oil Stadium inched past last year’s game attendance by about 500 people, but fell short of a complete sellout.

Front Page

Carmel spine surgeon wins $112M verdict in royalty battle with Medtronic

At issue in the five-year legal dispute was whether Dr. Rick Sasso was properly compensated for various inventions, and whether Minnesota-based Medtronic paid him sufficient royalties as spelled out in their agreements.

Special Sections

2018 CFO of the Year: Blake Koriath

Under Koriath’s financial leadership, the venture studio raised more than $100 million in 2018.

2018 CFO of the Year: Carl Dodds

Since Dodds joined the company in 2010, revenue per full-time employee has rocketed from $250,000 to $875,000.

2018 CFO of the Year: Christopher Myrvold

Since Myrvold joined the real estate firm 14 years ago, assets have ballooned from about $300 million to nearly $1.5 billion.

2018 CFO of the Year: Laurie Schrader

Schrader helped lead her 1,600-employee law firm to six consecutive years of growth in revenue and profitability.

2018 CFO of the Year: Cindy Gordon

Since Gordon joined the real estate development firm in 1998, it has undergone explosive growth.

2018 CFO of the Year: Kurt Humphrey

Humphrey keeps the business side of the Colts humming while also playing a key role in the team's philanthropic efforts.

2018 CFO of the Year: Jim Ryan

Ryan has helped the bank become more efficient and expand into a major new market, Minneapolis.

2018 CFO of the Year: John Gallina

Gallina has been with the health insurance giant since 1994 and has been at the financial helm since 2016.

2018 CFO of the Year: Scott Higgs

Higgs has helped swell Invesque's portfolio of health care and senior living properties to more than 100.

2018 CFO of the Year: Joseph Slater

Under Slater's financial leadership, the food bank has established a $9.5 million endowment while cutting operating expenses by more than $1 million a year.

2018 CFO of the Year: Craig Baird

2018 CFO of the Year: Latoya Alexander Botteron

Since Botteron came on board in 2010, Central Indiana Corporate Partnership’s revenue has jumped from $10.8 million to $17.8 million and staff increased from 39 to 98.

2018 CFO of the Year: Fady Qaddoura

For three consecutive years, Qaddoura managed balanced city budgets after a decade of deficits averaging $55 million per year, helping the city maintain its AAA credit rating.

2018 CFO of the Year: Barbara A. Lawrence

For Lawrence, being CFO of a sheriff’s department means managing the books and finding innovative financial solutions to meet the needs not just of 860 employees but also of 2,500 inmates and 1,600 registered sex offenders.

2018 CFO of the Year: Marlene A. Weatherwax

Under Weatherwax's watch, the hospital acquired several primary and specialty physician practices and funded more than $100 million of building and equipment acquisitions with operating cash and some long-term, tax-exempt financing.


MIKE LOPRESTI: Unheralded IUPUI has its own interesting hoops story

Two buddies from a small town in Kentucky are determined to put the Jaguars on a winning course.

Party-ready sweet treats from the IBJ staff

As we at IBJ get ready for our own holiday gatherings, we thought it would be fun to share a few of our favorite festive recipes.

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