Indianapolis Business Journal - July 31 - August 6, 2017]


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In This Issue

Front Page

Extent of Carmel borrowing unusual for Indiana; Brainard says investments pay off

Carmel's total liabilities have swelled to nearly $1.2 billion including principal, interest and other debt payments, according to the Indiana Department of Local Government Finance.

Flat-fee payment model bypasses traditional health insurance

Without dozens of insurance claims to file and follow up, physicians cut administrative overhead, reduce costs and keep their practices limited to a few hundred patients, rather than a few thousand.

Safeway stores get fix-up under new owners

Local grocery chain Safeway, hatched during World War II, has outlasted other homegrown competitors at a time large nationals are increasing their market share.

Top Stories

Vaping industry takes off after monopoly removed

Indiana’s once-struggling vaping industry is expanding again now that a new state law has eliminated a monopoly that strangled manufacturers’ ability to sell their products here.

Coding schools offer chance to restart

Who attends coding boot camps? It might surprise you.

Final miles of I-69 expected to take years, $1.5 billion to complete

Gov. Eric Holcomb included $554.3 million in state funding for the Martinsville-to-Indianapolis stretch of I-69, known as Section 6, in his recently released $5.1 billion Next Level Roads Plan.

Legal skirmishes break out over ITT documents, data

In digital and hard-copy form, the company controlled a massive trove of records—many of them academic transcripts and other student records that will need to live on for decades.

Condo developer moving to Herron-Morton as part of $18.4M project

Onyx+East plans to overhaul a historic building on Central Avenue for its headquarters and build 60 condominiums in the north-side neighborhood.

Federal audit: Indiana student data systems lacked 'adequate oversight'

State education officials say no sensitive data was improperly accessed and that steps are being taken to tighten security.

New IndyCar kits get high marks on opening day of testing

After spending the day testing the sleek, stylish cars on Indianapolis' 2.5-mile oval, two racing veterans left the opening day screening by insisting the cars run even better than they look.


Private equity firms' acquisition targets get pricey

Private equity funds are getting larger, and new players are entering the market. This translates into more competition for deals, which is driving up prices.

Cincinnati-based First Financial buying MainSource for $1B

The two banks have overlapping footprints. As a result, First Financial said that after the merger is complete it expects to close 45 to 50 offices.

Bank of America veteran to serve as market chief

Andy Crask has worked for Bank of America in Indianapolis since 2000, most recently as a senior relationship manager for global commercial banking.

Insurance agencies agree to merger

The two firms that are merging, Brownsburg-based Hometown Insurance and Zionsville-based Ward Insurance Services, have a combined 16 employees.

Indiana closes out fiscal year with $1.8 billion in reserve

State officials say Indiana closed out the 2017 fiscal year that ended in June with a budget surplus of $42 million.

A&E, etc.

TRY THIS: Exploring Indiana’s underground

Who said Indiana has no natural wonders? You just have to go below the surface.

DINING: Revamped Fall Creek Place restaurant shifts emphasis to late-day breakfast

The interior of 22nd St. Diner holds no spinning-stool counter or revolving dessert display, and while there is an emphasis on breakfast foods, they don’t come in the standard diner shapes and sizes.

LOPRESTI: Fifty years later, another IU coach has designs on Pasadena

A Rose Bowl berth is on Tom Allen's radar, but there are more achievable goals to accomplish first.


EDITORIAL: Health care debate needs sanity

What we need is reasoned debate by smart people willing to put politics aside to find answers—probably answers that no one will find wholly satisfying but could become the basis of a health care system that is fair and affordable and can change with technology and innovation that is constantly evolving.

LINEBARGER: Trade, NAFTA boost state’s economy

More than any other free-trade agreement, NAFTA has helped Cummins Inc. compete for more customers.

KENNEDY: Contrasts in leadership

Indianapolis Mayor Joe Hogsett has shown leadership in his handling of the police shooting of an unarmed black man.

MADDOX: Trump’s greatest legacy will be the courts

Despite amateur hour in the White House, Trump’s greatest legacy will be the conservative men and women he appoints to the federal courts. This is ironic given that, for most of his life, Trump was a Democrat and has acknowledged not having a strong ideological foundation for his political positions.

LETTER: Bohanon & Styring column offers no solutions

Like it or not, we are headed for a single-payer national health care system.

LETTER: Stop the negative rhetoric

We don’t need more negative campaigning.

LETTER: Let’s hope for civility in U.S. Senate race

I don’t have much hope that the Senate race will be anything but ugly.

BOHANON & STYRING:Breaking down the Purdue-Kaplan deal

Purdue University's purchase of online college Kaplan University should be considered in the context of at least two economic principles: composite goods and division of labor.

KIM: Recognize role luck plays in success in investing, life

Even the hardest workers and best decision makers among us will fail to succeed consistently without luck.

In Brief

The Cabaret finds permanent home in historic building

The Cabaret will lease from Buckingham a portion of the Metzger Building, the former Rollerland skating rink at 924 N. Pennsylvania St. that houses the Arts Council of Indianapolis and Gallery 924.

Lilly to pay up to $400M to buy rights for early-stage immune drug

The deal is Eli Lilly and Co.'s latest push into a growing disease area for such disorders as arthritis, lupus and multiple sclerosis.

Local apartment complex sells for state record $90.6 million

The second-largest apartment property in Indianapolis has traded hands for more than twice as much as it sold for just eight years ago.


Records for July 31-Aug. 6, 2017

Here are the records listings for July 31-Aug. 6, 2017.

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