Indianapolis Business Journal – May 24-30, 2019




In This Issue

Front Page

Questions loom over proposed Carmel rehabilitation hospital

Two out-of-state companies that want to build a 60-bed hospital in Carmel have a history of mass layoffs, at least one high-profile bankruptcy, and accusations of kickbacks and billing irregularities.

Young viewers skip local TV news, consume info online

While TV news has seen audience declines across many age categories, the biggest losses are with younger viewers.

One year in, nonstop Indy-Paris route flying high

Indianapolis International Airport officials say they’re encouraged by strong passenger bookings during the first year of Delta Air Lines Inc.’s nonstop service to Paris.

Top Stories

At year 20, Indiana Fever in ‘rebuild mode’

The Fever are coming off a couple of dismal seasons, with just nine wins in 2017 and a franchise-worst six last year. New leadership will be at the helm to try to pull off the turnaround.

CNO stuck in nightmare over alleged hedge fund fraud

CNO is mired in lawsuits related to the hedge fund's collapse—both as a plaintiff and as a defendant—that likely will take years more to play out.

Q&A with David Horth, IndyHumane CEO

Horth already has shaken things up as he tries to help the nearly 115-year-old agency thrive or, as he and the board say, be “better than our best.”

Kite, Milhaus planning 7-building apartment complex next to Glendale

Indianapolis-based mall owner Kite Realty Group Trust this month filed a request with the Marion County Board of Zoning Appeals to change zoning for some of the parking lots just east of the shopping center.

Prime site near Keystone, 96th Street interchange hits market for nearly $10M

The 18.1-acre parcel is one of the few remaining undeveloped sites of significant size on Indianapolis’ northern edge. Although it’s bordered by homes, local brokers foresee commercial development.

Analysis: McLaren’s failed Indy 500 effort was comedy of errors

McLaren CEO Zak Brown acknowledged Monday the team was woefully unprepared to qualify a car for the Indianapolis 500, and small oversights snowballed into the final result.


As Grand Park turns 5, Westfield says its big bet on youth sports complex is paying off

City officials say Grand Park is just starting to show its full promise, and they’re hopeful the TIF district generates enough revenue by 2023 to fully cover Grand Park’s debt payments.

BitLoft opens new Carmel office, grows staff

BitLoft, a local technology development firm, expanded its central Indiana footprint with an additional 7,200-square-foot location in Carmel. BitLoft recently added 10 employees and the company isn’t done growing.


Editorial: Mayoral candidates owe voters robust discussion of key issues, including poverty and education

Between now and the general election in November, IBJ will use this space to identify problems in the city and challenge Hogsett and Merritt to develop meaningful plans to address them.

GREG MORRIS: Memorial Day weekend always special in Indy

The combination of patriotism, tourism and tradition has no equal on our city’s calendar.

Evan Lubline: Policy change would harm state’s Medicare beneficiaries

Hoosiers could find themselves faced with fewer treatment options and longer drives to reach medical services, not to mention the possibility of more expensive care as the new facilities might charge more than the patients’ previous provider.

Alex Jorck: Alternatives to Green New Deal in a changing climate

The excellent research coming out of Purdue University’s Climate Change Research Center shows climate change is reducing our air and water quality, decreasing productivity of agricultural crops such as corn and soybeans, and causing record-breaking heat waves and more flooding. These negative impacts and others will only accelerate through the century, meaning inaction is an irresponsible and costly choice.

PETE THE PLANNER: Recognize cycles of financial opportunities, challenges

The goal is to be honest with yourself so you can be prepared for the challenges and ready to take advantage of the opportunities.

BOHANON & CUROTT: How farm-labor cost concerns led to creation of giant strawberry

Because a worker can pick a greater mass of strawberry with each muscle movement, a bigger berry–like machinery–substitutes for more expensive labor.

Kristen Cooper: What’s a startup to do when 100% of the team goes down?

Having a backup plan in place along with documented procedures will make difficult transitions less stressful and more productive for everybody on the team.

We aren’t a theocracy

Spend money on Earth

In Brief

IPS superintendent opening gets 11 applications

The Indianapolis Public Schools board this week will begin meeting in executive session to review applications, identify finalists, and determine next steps.

City files eminent domain suit to acquire, demolish Oaktree Apartments

The city of Indianapolis has called the 19-acre property southeast of the intersection of 42nd Street and Post Road a “threat to public health, safety and welfare.”

IMOCA changes name, refines mission without home base

More than two years after vacating its base of operations in Fountain Square, the city’s museum dedicated to contemporary art has formalized its metamorphosis into a more nomadic organization.

$175 million solar power project planned for central Indiana

Officials announced Tuesday that plans call for Brooklyn, New York-based Ranger Power to build the solar project in Shelby County starting in 2022.

Fashion retailer with seven area stores calling it quits

After trying to find a new owner, Ascena Retail Group announced Monday that it is preparing to close its Dressbarn clothing chain, which has about 650 stores throughout the country.


John Zody: Holcomb’s focus on glossy sales pitch is flawed

The economic development approach forged by a decade-plus of Republican control underinvests in human capital and fails to create quality jobs.

Melissa Proffitt: International perspective crucial in today’s economy

Gov. Holcomb’s Next Level agenda seeks to diversify and expand Indiana’s 21st century economy, and his international strategy is working.

Deborah Hearn Smith: It’s time for a green movement in Indianapolis

It is a terrible blemish on our city that environmental concerns take such a back seat in our ongoing growth and future.

John McDonald: 500 could be called the ‘Greatest Spectacle in Data’

The data gleaned from race cars and the drivers themselves is enabling teams to direct incremental improvements in a car’s performance.

Gary Varvel: Pence tells Liberty grads how to face fiery opposition

Suggesting that people of faith compromise their beliefs is nothing new.

Claire Fiddian-Green: By speaking up, we can all help Hoosiers thrive

As Americans, we have ample freedom to seek change aimed at addressing inequalities.

Greg Weaver: The promise of poetry to boost Indiana’s creativity

People who read poetry or experience other forms of art perform better when taking on tasks that call for creative solutions.

Dana Black: Do more to engage black voters than go to church

If a campaign’s only strategy is the black Christian church, that campaign’s message is failing to reach more than half the black population.

Leah McGrath: Be the change you want to see; vote in local elections

It comes down to each of us making the commitment to be more civic- and community-minded.

Karen Celestino-Horseman: The right (or not) to vote when convicted of a crime

Unless an individual is made to feel he or she is a part of society, rehabilitation becomes harder.

Brad Rateike: There’s still time for this Congress to do something

Providing political theater is not an accomplishment.

Ed DeLaney: A double loss—lost dignity and lost opportunity

The greatest sin of the Republican establishment in our state is its silent embrace of Trump.

Una Osili: U.S. must expand opportunities for women, girls

When women are part of shaping public policy, societies see more profound and long-lasting changes.

Anne Hathaway: Sen. Lugar’s legacy shines through women leadersnt template

The Lugar Series now has 529 alumni representing more than 70 Indiana counties.

Jennifer Hallowell: This May, let’s all do more for mental health

Indiana’s suicide rate—at more than 16%—is higher than the national average and has increased steadily over the last few years.

Adrianne Slash: Words for new grads and their new employers

Establish opportunities to learn from one another and commit to giving your best in all that you do.


MIKE LOPRESTI: One Indy 500 victory understates influence of Mario Andretti

Fifty years after his signature win, Speedway legend dismisses idea of a family curse.