Indianapolis Business Journal - March 27 - April 2, 2017


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In This Issue

Front Page

Wise investment? Voucher system's effectiveness tough to judge

Over six years, the state has spent more than a half billion dollars on vouchers. During that time, Indiana’s program has expanded, giving more students access to vouchers than in any other state—despite mixed evidence from researchers that vouchers help students achieve.

City gives up on stalled 21c hotel, will seek new proposals

City officials are scrapping plans to help finance construction of a long-awaited 21c hotel proposed as part of a $55 million redevelopment of Old City Hall and are putting the property back up for bid.

Coach decision puts IU’s Glass on the hot seat

Glass has transformed the culture of IU's athletic department for the better, IU sources said, but that legacy could be obscured by whom he hires to replace Tom Crean as men's basketball coach.

Top Stories

Reeling casinos seek breaks from Statehouse

Indiana lawmakers are working to keep afloat the state’s crippled casino industry in an effort to shore up declining tax revenue and spur investment.

Proposed exits on I-69 route suggest opportunities—and headaches

The Indiana Department of Transportation this month released plans detailing the location of interchanges along the final leg of Interstate 69, information that’s expected to spark investment.

ITT Tech nightmare escalates for Indianapolis credit union

The Eli Lilly Federal Credit lost a bundle on loans to ITT Technical Institute students a few years ago. Now the credit union, which adopted the Elements Financial moniker two years ago, may get hit with a lawsuit from the bankruptcy trustee for the now-defunct for-profit school operator.

UPDATE: Lilly to invest $85M in Indy as part of diabetes expansion

The expansion at the Lilly Technology Center southwest of downtown is part of an $850 million investment the company is making this year in its U.S. research labs, manufacturing plants and other operations.

Musician accuses conductor Urbanski, ISO of age discrimination

A federal lawsuit filed by principal bassoonist John Wetherill accuses Music Director Krzysztof Urbanski and Indianapolis Symphony Orchestra managers of trying to push out musicians older than 40 to replace them with younger and lower-paid performers.

PROXY CORNER: Bioanalytical Systems Inc.

West Lafayette-based Bioanalytical Systems Inc. provides contract-research services to the pharmaceutical industry.


Female homebuilders find success, despite small numbers

The Builders Association of Greater Indianapolis estimates that no more than 10 of its 150 members are women, with many of them building few homes.

Retired designer turns two condos into one for penthouse over Mass Ave

It was quite a change, to say the least, from the Jim O’Neils’ previous abode—a large but traditional home on 116th Street.

Demographics snapshot

Central Indiana home sales fall after 15 straight months of increases

February's decrease in existing-home sales came amid a steep increase in prices and a big decline in housing inventory.

Area home builders see 14-month streak come to an end

After more than a year of experiencing rising demand for new homes, Indianapolis-area builders had an off month in February.

A&E, etc.

LOU'S VIEWS: A battle royal brightens Bloomington

Long live "King Charles III," the justly acclaimed play getting its local debut via Cardinal Stage Company.

LOPRESTI: Interested in IU coaching vacancy? Fill out our questionnaire

We require more information to complete your application, just to make sure you’re our kind of guy—maybe even have a chance to be another Bob Knight and one day win national championships.

DINING: Outsider becomes stakeholder in local steakburgers match

Freddy’s Frozen Custard & Steakburgers dares to tread in Steak n Shake territory.


EDITORIAL: Research vouchers to assess value

Whether those students who attend private schools on a state-funded voucher are getting a better education remains a question. And whether those left behind at public schools are harmed by the changes is another.

MAURER: A belated stroll through the topics of 2016

I know it’s not January, but I have been taking a hiatus from this column in order to complete a book.

WAGNER: Mentoring women to be Democratic leaders

Our focus should be on electing women, who are woefully underrepresented in office, as well as nurturing women who already are on a professional career track but who might be looking to give back in other ways—perhaps a year or two in public service or fundraising for a candidate or taking on a leadership role in the community.

WESTERHAUS-RENFROW: A leader’s apology in a tweet

The good news is, people don’t expect online perfection from even the savviest leaders. People understand that leaders are bound to make mistakes when using online platforms to connect with stakeholders, share knowledge and increase transparency.

LETTER: VA irresponsible in Crown Hill ‘debacle’

The Department of Veterans Affairs made the absolute minimum effort required by law, which was the purchase of legal ads in a local newspaper, and several notices in the Federal Register.

LETTER: IBJ falls for quality-of-life hype

Where do I find evidence to support the contention in the IBJ editorial from March 20 that “companies increasingly base decisions on where to invest and hire on quality-of-life issues”?

FEIGENBAUM: State spending won’t increase much, even if revenue does

History suggests to expect only some tinkering at the margins—although some of those margins might be in the tens of millions of dollars, enough to fund some new initiatives, fully fund former pilot programs, or shore up existing line items.

BOHANON & STYRING: The economics of immigrating illegally are alluring

One doesn’t have to bless or even condone illegal immigration to understand the powerful incentives driving it.

KIM: A cautionary tale we’ll call ‘Lefty and the Gambler’

PGA superstar Phil “Lefty” Mickelson may be called to testify in the insider trading trial of sports-bettor William “Billy” Walters.

In Brief

$15M renovation gives Marriott North first major refresh

The 315-room hotel, built in 1998 at Keystone at the Crossing, now boasts several amenities and improvements that give it a more modern feel.

Hoosier inventor's foundation gives UIndy $5M to start engineering school

The university said the gift from the R.B. Annis Educational Foundation “will advance the university’s strategy to address Indiana’s increasing demand for skilled engineers and STEM-related professions.”

Cook Group CEO leads smaller list of Indiana billionaires

Hotel and billboard magnate Dean White, who had been a fixture in the annual rankings by Forbes for years, fell from the list after his death in September at 93.

Speedway hires financial executive as town manager

Jacob Blasdel will take the position April 17, succeeding Ian Nicolini, who handled the job for more than two years before leaving the position in November to join the Indy Chamber.

RadioShack bankruptcy claims Indianapolis stores

Eleven stores in Indiana, including four in Indianapolis, are on the closure list. Five area stores escaped the list.


Records for March 27-April 2, 2017

Here are the records listings for March 27-April 2, 2017.

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