Indianapolis Business Journal - May 1-7, 2017
In This Issue
$135M CityWay expansion stokes apartment boom
Construction on the second phase of CityWay is expected to begin in early June, further transforming downtown by adding 400 more rentals to the already booming apartment market.
Biz interests mostly pleased with legislative session
Although lawmakers OK'd less than half the $50 million annual pledge business leaders wanted for expanding state-funded preschool, they passed a major infrastructure bill that businesses favored.
Indy 500's first presenting sponsor sees growth spike, gears up for more
Since local entrepreneur Mike Protogere bought D-A Lubricant Co. Inc. in 2002, the manufacturer of oil, grease, antifreeze and other industrial products has shifted into overdrive and punched the gas.
Mainscape founder secretly assisted feds with American Senior Communities probe
The fact that Dave Mazanowski, whose firm provided landscaping services to the nursing home chain's properties, had been cooperating with investigators was revealed publicly for the first time in a recent court filing.
Owners lavish more than love on pets—and businesses respond
U.S. spending on pets has increased every year since at least 1994, with the largest boost—nearly 11 percent—occurring last year.
New food transport rules could boost big trucking firms most
Indianapolis-based Celadon Group Inc. is banking that a new federal food safety rule will help it take a bite out of its competition—in part because smaller carriers won’t be able to afford to comply.
Purdue to acquire Kaplan University, launch online program
Purdue's acquisition of Kaplan includes 15 campuses, 32,000 students and 3,000 employees. All Kaplan University students and faculty will transition to the new university, which will use the Purdue name.
Emmis to sell off more radio assets after new agreement with lender
Under the terms of a newly renegotiated credit agreement, Emmis has until next summer to sell off at least $80 million in assets.
Local wiener eatery hawking franchises for convenience stores
King David Dogs is pursuing growth through gas stations and travel plazas by franchising kiosk-sized versions of its downtown restaurant, known for its quarter-pound, all-beef hot dogs.
Greenwood mayor leads push to turn downtown into residential, retail hub
Mayor Mark Myers, a second-term Republican, hopes to take a page from the playbooks of Carmel and Fishers, which have drawn more residents downtown by creating a commercial and residential hub.
Historic east-side church once again in danger of demolition
The congregation that owns the St. John United Church of Christ in Cumberland says $75,000 needs to be raised within the next few weeks to pay for upkeep or the structure will be demolished as soon as June 1.
Hope floats: North-side plumbing firm rehabbing building for HQ move
Hope Plumbing expects to sink $1 million into the project about a block from its current home to accommodate its growth. It's seeking a tax abatement from the city to help offset costs.
LOU'S VIEWS: In ‘The Open Hand,’ generosity may—or may not—have strings attached
Plus, ‘Mad Mad Hercules’ takes a non-Disney look at the mythological hero.
DINING: New steakhouse is no Fogo de Chao (or Tucanos either)
Rodizio Grill brings Brazilian-style table-side meat cutting to Carmel.
LOPRESTI: For Indiana’s biggest sports brands, misery loves company
Colts, Pacers and IU's basketball Hoosiers meet at an unhappy crossroads.
EDITORIAL: Liquor stand-off on tap for 2018
Too often, lawmakers ignore what’s in the best interests of consumers. It’s a regrettable vice likely to be on full display next year if legislators honor their promise to tackle a full overhaul of Indiana’s alcohol laws in 2018.
MORRIS: Being a smart health consumer isn’t easy
Trying to make sense of why a prescription is $320 at one place and $68 down the street.
COOK: Strong session for economic development
Addressing everything from more direct flights to increased funding for emerging technologies, legislators gave businesses plenty to be happy about in 2017.
FLAMM & SCHLOSS: Abandon wall, expand green cards
The bottom line: Building a 2,000-mile wall on our southern border makes little sense and could have big repercussions—most of them negative. Some campaign promises are best left unfulfilled. This is one of them.
FEIGENBAUM: A few policy cans kicked down road to next session
If you thought the state’s transportation woes and future needs were magically resolved via passage of the mega-funding package, your deficient vision should bar you from driving in the future.
SKARBECK: Annual proxy statements are worth scrutinizing
Just as with political elections, shareholders should take the time to vote their proxies.
BOHANON & STYRING: Gender pay gap is real--and there's a reason for it
Women tend to choose lower-paying occupations, and are more likely to have career interruptions for childbearing/child care and for care of elderly relatives. This results in lower pay.
LETTER: Be fair to vape products
Vapor products are a new, potentially life-changing technology that provide many with a viable avenue to tobacco cessation.
LETTER: Tolls are bad idea
Interstate tolls increase supply chain shipping costs, making businesses less competitive and raising consumer prices.
Speedway to ban smoking in grandstands starting in October
Beginning with the Red Bull Air Race, most of the smoke spectators see and smell from the Indianapolis Motor Speedway grandstands will waft from exhaust pipes or screeching tires.
Garrison to step down as WIBC talk-show host after 20 years
Conservative radio host Greg Garrison plans to retire from his weekday show in June, he announced Monday on the air.
Local software company makes two acquisitions
Indianapolis-based technology company TCC Software Solutions has acquired two business-consulting companies in a deal that is expected to help TCC expand into different markets.
Credit ratings agency downgrades bonds issued for I-69 project
The most recent downgrade was driven by concerns over whether the company hired to design and build the segment will be able to meet its financial obligations.
Sales of existing homes in the Indianapolis area jump 19 percent
Existing-home sales in central Indiana soared in March while rising for the 16th month out of the last 17.
Carmel advertising agency changes hands
After recovering from the loss of a big client in 2014, the founder and CEO of Fat Atom Marketing has handed over the keys to two employees.
Records for May 1-7, 2017
Here are the records listings forMay 1-7, 2017.