Indianapolis Business Journal – June 7-13, 2019




In This Issue

Front Page

Upgrades might give Indiana Pacers upper hand in naming-rights deal

Pacers Sports & Entertainment is going down to the wire in lining up a new sponsor for the fieldhouse. But the wait might give it extra leverage to strike an especially lucrative deal.

Undaunted by internet, Indianapolis Public Library adds branches, boosts visits

The Indianapolis Public Library system is on a physical growth spurt, even in an increasingly digital age where a growing portion of its collection exists only online.

Tax credit change poised to boost supply of venture capital from out of state

Indiana startups might soon have an easier time attracting out-of-state investments thanks to a change lawmakers made this year to an instrumental tax incentive program.

Top Stories

Indianapolis joins effort to turn Nickel Plate into trail

Indianapolis has joined Fishers and Noblesville in a quest to turn the Nickel Plate Railroad into a 17-mile trail connecting the three communities and is seeking millions in state funds to make it happen.

IndyGo faces challenges as early adopter of electric fleet

The transit system has hit some speed bumps as it works to implement a new model of electric bus that will be its fleet for the Red Line, the rapid-transit route that begins service Labor Day weekend.

Bloomington soap makers call themselves ‘equality extremists’

Three former Indiana University roommates are trying to prove a business with socially responsible, equitable business practices can be successful in a dog-eat-dog world.

Indy credit union pays a price to put ITT nightmare to rest

Elements Financial, formerly the Eli Lilly Federal Credit Union, is among seven credit unions that collectively agreed to pay $7.5 million to settle a lawsuit brought by ITT Educational Services' bankruptcy trustee.

Q&A with John Bales, founder of Biodynamic Ventures

Bales is among a growing number of entrepreneurs trying to get in on the ground floor of what is being called the “green rush.”

SteadyServ up for sale after turnaround plan fails; creditor makes bid

The once-promising company is under pressure to work out a sale quickly since a $1 million loan it obtained to keep it operating through bankruptcy is due to be repaid June 7.

St. Vincent adds 24-hour urgent care to its microhospitals

The Indianapolis-based health system said the move will give patients more treatment options. It has opened five tiny hospitals in the last two years, and plans to open three more later this year.

Former mayor urges school leaders to ‘step up’ to protect charter schools

As the school choice debate emerges as an issue in the presidential election, Bart Peterson, an architect of Indianapolis’ charter-school movement, says the schools aren’t fighting back strongly enough against their critics.

Zionsville Town Council rejects controversial apartment proposal

The Zionsville Town Council voted 4-3 Monday night to reject a 184-unit apartment project proposed just south of the town’s quaint downtown village. A vote on the project ended in a deadlock a month ago.


‘Agile and adaptable’ is the formula for Butler’s biz school and its soon-to-open new home

The Andre B. Lacy School of Business operates in an ecosystem filled with in-state competitors that dwarf it in size. Dean Steve Standifird figures if you can’t match them in size, you’d better be more agile and adaptable.

IPS settles lawsuits tied to ex-counselor

Indiana State seeks tuition hike, new fee

District sued over bullying incidents


Hogsett’s infrastructure plan puts regionalism on front burner

NATE FELTMAN: Holcomb’s first term is welcome surprise

The governor has accomplished a lot by working across the aisle and sometimes bucking Republican orthodoxy.

‘Pro-life’ crowd, be careful what you wish for

The future of equality requires Republicans, too

Maggie Phelps: Leadership lessons from a new parent

There’s no way around being vulnerable as a parent because the most precious person in your life is constantly at risk. Being vulnerable at work means you connect with people deeply and you build mutual trust.

HAHN: How your money personality affects your financial health

As I read and learned more about handling money and finances, I was able to see how my actions undermined my long-term goals, and I was able to make changes.

BOHANON & CUROTT: Indiana will be big loser in Trump’s war with Mexico

If President Trump’s new round of tariffs–this time aganst Mexico–is implemented, it will raise costs for producers, lower returns for investors, raise prices for consumers, and destroy jobs.

Letter: Repeal device tax

I’m grateful a fellow Hoosier, congresswoman Jackie Walorski, is joining with other members of Congress on both sides of the aisle to introduce the Protect Medical Innovation Act. The bill would repeal the medical device tax, which threatens future innovations that could save lives and pave the way for more effective treatments for patients like me.

Letter: Please spare us Varvel’s commentary

Varvel is a very gifted cartoonist, but his bromance with the Pence family does him no good, nor the rest of us.

Letter: Another take on berry size

Strawberry plants in California bloom for six to nine months, continuously producing fruit. That fruit does not stay consistently large for the entire season.

In Brief

Leaders unveil plans for developing White River in Marion, Hamilton counties

The White River Vision Plan, unveiled Monday morning by community leaders from Marion and Hamilton counties, makes key development recommendations to seven "anchor areas" along a 58-mile stretch of the river.

Aldi seeking approval for first store in Fishers

The Germany-based discount grocery chain has asked a city committee for permission to make architectural changes to the front of a store that was vacated by another grocer last summer.

Carmel-based Rook Security acquired by English firm

Rook Security, an 11-year-old firm that specializes in cyber-threat detection and response services, had been on a torrid growth pace for most of this decade but has downsized its workforce more than 60 percent over the past three years.

Downtown architecture firm plans move, mixed-use project on College Avenue

Lancer + Beebe LLC has purchased property for a new headquarters on downtown’s eastern edge that also would include retail and residential space.

Clay resigns from City-County Council following tumultuous tenure

Stephen Clay was persona on grata on the council after being expelled from the Democratic caucus for a leadership coup in 2018.


MIKE LOPRESTI: Ten sports legends made in Indianapolis

They’re not from the city, but the time they spent here made them household names.