Indianapolis Business Journal - March 16-22, 2018
In This Issue
Few sites leap out for possible downtown mega-hotel
Only the Pan Am Plaza and a city-owned parking garage on Illinois Street jump out as prime locations for the mega-hotel Visit Indy wants downtown, hospitality industry observers say.
Emmis CEO says he's preparing to diversify, not wind down
While it might appear that Jeff Smulyan is preparing to either liquidate or parachute out of the company he founded in 1979, he says that couldn’t be further from the truth.
Hogsett retools tactics on commuter tax
Mayor Joe Hogsett hopes to convince legislators that other Indiana cities, not just Indianapolis, could benefit from a non-resident income tax or the redistribution of income tax revenue.
Regulators consider IPL request to collect $96.7M more annually from customers
The utility is asking state regulators for permission to increase the “fixed charge” on its 490,000 customers from $17 to $27 a month, and increase energy-usage charges also.
Republic escapes turbulence, but still combats pilot shortage
In many respects, Indianapolis-based Republic Airline Inc. is on surer footing now than when it filed for Chapter 11 bankruptcy protection in February 2016.
State stops millions in fraudulent tax refunds
Thanks to a fraud-prevention program the Indiana Department of Revenue implemented in 2014, hackers looking to collect refunds owed to other individuals seem to be targeting Hoosiers less often.
Lilly revives proposals that would lower takeover barriers
The company’s board is asking shareholders to support two corporate-governance proposals, including one that would eliminate a requirement that buyout bids garner at least 80 percent shareholder approval.
Q&A: Newman is growing ABA, getting back into ad game
Joe Newman turns 81 this month but has no plans to slow down. He’s restarting his advertising career, with two clients already signed.
Lawmakers don't act to waive $50M fee in Caesars/Centaur deal
Las Vegas-based Caesars is arguing the costly transfer fee should not be applied to its $1.7 billion deal to acquire Indianapolis-based Centaur Gaming and its racinos in Anderson and Shelbyville.
Council unanimously OKs Hogsett plan to spend $14.5M on pothole repairs
Mayor Joe Hogsett called for the use of the emergency funds after tens of thousands of complaints came in about the condition of city streets that had been littered with potholes after a rough winter with rapid changes in weather.
Dated and drab, Broad Ripple Park ready for reboot
City park leaders are seeking public input as they kick-start a master-planning process for improvements to the 62-acre piece of land along the White River.
Thompson Thrift deviates from playbook with restaurant-anchored Fishers project
The $110 million Yard at Fishers District will feature about 15 restaurants, including two St. Elmo-owned concepts; a Sun King tasting room; a dual-branded hotel; and hundreds of apartments.
Flaherty & Collins breaks ground on $41M Kansas City project
The Yards will consist of 232 market-rate apartments, ranging from studios to two-bedroom units, and 3,150 square feet of retail space.
Council gives 'final attempt at negotiation' for Nora residents opposed to development
Council member Colleen Fanning said the action gives neighbors another chance to have their say in a redevelopment proposal that could affect what’s been deemed Haverstick Woods.
Mainstreet nixes ambitious Arizona plan, terminates at least 70 workers
The Carmel-based developer and operator of senior care facilities blamed high start-up costs and a challenging reimbursement environment for decision to pull out of Arizona.
EDITORIAL: Regional cooperation is bigger than an Indy commuter tax
Mayor Joe Hogsett and his team can be credible leaders on the issue if they develop a plan showing how Indianapolis infrastructure will be maintained in the long term.
MAURER: Meyer is an upgrade for local Republicans
State Senate District 29 needs a thoughtful representative who will work within the law.
GUY & MARCUS: Where you stand determines if you sit
Not providing seats denies jobs to how many thousands? What portion of those on disability payments are out of the workforce because employers fail to provide opportunities to sit on the job? We do not know.
SHUR: Law keeps short-term rentals from going underground
Short-term rentals are opening up the state to a new slice of prospective tourists, catering to travelers who, for any number of reasons, might be less inclined or simply unwilling to stay in hotels.
URBAN DESIGN: Modernism’s lack of humanity lingers in downtown towers
As a rule, Post-World War II buildings turned their back on the public realm.
IN THE WORKPLACE: Job references and the true risks of remaining silent
All business owners should want to know as much as possible about a person before making a job offer. After all, the investment you are making is enormous.
FEIGENBAUM: Less experienced lawmakers come off the bench in closing days
With so many leading lawmakers with long years of experience in conference-committee deliberations leaving and being replaced by those who have played only supporting roles in recent sessions, we’re seeing a change in how conference committees operate.
SKARBECK: Forum covered broad terrain, from ‘second-level thinking’ to fraud
The CFA Society of Indianapolis held its 2018 Annual Investment Forum this month, and a variety of invited speakers provided for an interesting day of discussion.
BOHANON & CUROTT: The Amazon equation includes costs, too
Any choice you make implies you forgo some alternative. The value of that next-best alternative is the cost of the choice.
LETTER: Tax law doesn’t help small businesses
I might see a nominal cut in my taxes this year, but it won’t be enough to hire an employee, give raises or grow my business.
BAILEY: Amazon, ignore our crazy potholes
Past administrations (both sides of the aisle) have put street “replacement” on a back burner allowing our important infrastructure to crumble.
Fieldhouse to lose Bankers Life moniker after insurer declines to renew naming deal
The 18,165-seat sports and entertainment venue known as Bankers Life Fieldhouse isn't going anywhere, but the moniker will disappear next year.
Purdue mulls policy to limit Wi-Fi access on campus
The biggest broadband consumption on Purdue's network is from gaming sites, streamed music and assorted video providers.
Porkopolis targets local market for first location outside Arizona
A barbecue joint started by an Arizona radio personality from Ohio will make its first venture outside of the Phoenix area when it opens this spring.
Council approves ordinance to crack down on high-crime hotels
Council member Jared Evans, who authored the proposal, said there are 15 hotels in the city with problematic ratios that are resulting in a drain on police and fire resources.
Colts exhibit sticks largely to positive playbook
"Indianapolis Colts: The Exhibit," which opened on March 10 and runs through January 2020, is a celebratory view of the team’s impact on Indianapolis and Indiana and its on-field successes.
LOPRESTI: The tournament’s top 10 Indiana dream crushers
From Gordon Hayward's wayward shot to a perfect season spoiled in 1975, we've taken some big hits.