Indianapolis Business Journal – October 19-25, 2018


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In This Issue

Front Page

Circle at crossroads: Monument Circle faces growing calls for upgrades

Downtown Indy leaders say the city can’t afford to let the Circle fall into disrepair or become a turnoff for visitors.

Kite to build 2 hotels at Pan Am Plaza; city to spend $120M on attached meeting space

The Capital Improvement Board has selected a Kite Realty Group plan from among three proposals in its effort to expand the city’s convention capacity. The CIB is expected to vote Friday to move the project forward.

Endocyte’s $2.1B deal with Novartis comes after years of setbacks

The West Lafayette biotech firm’s stock traded as low as $1.41 last fall, following multiple setbacks and restructurings. But the stock had soared to $24 Thursday morning after news that it would be acquired by Novartis.

Top Stories

FedEx’s $1.5B investment in Indy will expand capacity, add jobs, strengthen airport finances

The upgrade and expansion of the giant shipper’s 320-acre, 2.5 million-square-foot complex is driven by the need to keep pace with steady growth in e-commerce activity.

City revives state tool in effort to boost three struggling corridors

The city is in the process of setting up “redevelopment areas” surrounding North Post Road between 38th and 42nd Streets, the West 38th Street area known as International Marketplace, and a corridor of Brookville Road that contains the former Navistar and Ford Visteon plants.

Simon to weather, maybe even benefit from Sears’ decline, analysts say

Indianapolis-based Simon Property Group and other mall landlords actually might be looking forward to redeveloping Sears’ massive stores with more promising tenants as the once-mighty retailer enters bankruptcy.

Insurer Anthem agrees to pay record $16M for massive data breach

The nation’s second-largest health insurer has agreed to pay the government a record amount to settle potential privacy violations in the biggest known health care hack in U.S. history, officials said Monday.

High Alpha venture studio launches worker-safety software firm

Indianapolis-based venture studio High Alpha on Tuesday announced the start of a new cloud-based software firm that plans to market business-safety applications to reduce and prevent injuries for maintenance workers.


National Bank of Indianapolis retains focus on central Indiana market

Today—as it was in 1993 when the bank launched—its leaders focus on reaching customers in four categories: small to medium-sized businesses, professionals, not-for-profit organizations and money management. “We haven’t changed that strategy in 25 years,” said Mickey Maurer, the bank’s board chairman.

Investors most bearish on global economy since crash, survey says


Editorial: Circle must remain a showpiece but don’t overthink space

IBJ urges leaders from Downtown Indy and the city to continue looking for ways to better fund infrastructure improvements both on the Circle and its Meridian Street and Market Street spokes. That must be a funding priority.

GREG MORRIS: A continuing fight against food insecurity

Gleaners Food Bank of Indiana and IBJ partnered this month to share the urgency of hunger and its many side effects.

P.E. MacAllister: A centenarian’s take on the rebirth of Indianapolis

The story of our transformation has bipartisan authors, but growth was fueled by an outstanding succession of Republican leaders.

Rebecca Buchan: Expand your workforce to include the deaf

Hiring a deaf person is inviting someone into your organization who carries a unique perspective on the world, and likely, to your company.

Cecil Bohanon & Nick Curott: Sears just didn’t keep up; others should take note

Sears got started doing exactly what Amazon is doing now: offering low prices and home delivery. But the larger point is this: In free markets, firms have to serve customers better than their rivals.

Jalene Hahn: Selecting the appropriate investment rollercoaster

Risk tolerance, risk capacity and risk perception are the fundamental elements of your risk profile. The best way to construct your portfolio and ensure you can hang on for the whole ride is when you evaluate and discuss these risk elements individually and not as a composite assessment.

Charlotte Westerhaus-Renfrow: How to successfully give constructive feedback

Effective feedback is imperative to helping a workplace thrive—whether by increasing and maintaining quality performance from employees, improving flaws, helping with new skills, or creating a growth mindset in employees.

URBAN DESIGN: Parking has outsized influence on downtown’s built environment

Do we want to be known as a lively urban place … or a place for parking?

Letter: Nickel Plate plan ignores public will

Most people would support a trail that leaves the tracks intact. But they reject a vision of the right of way’s “destiny” that involves pop-up shops, drone zones and aromatic gardens.

In Brief

UPDATE: Braun raises more than Donnelly in Q3, but Donnelly leads in cash on hand

Sen. Joe Donnelly’s campaign reported a personal record in fundraising in the third quarter, but opponent Mike Braun’s campaign said it raised nearly twice as much, thanks to a boost from personal loans.

Hogsett’s $1.17B budget passes City-County Council by unanimous vote

The administration plans to spend $126 million on roads and bridges in 2019, about $30 million more than is slated to be spent this year.

Downtown steakhouse closes after parent company’s bankruptcy

Downtown’s jam-packed steakhouse scene has become a little less crowded after the closure of an upscale player that debuted in Indianapolis in 2017.

Pacers keep key piece in place by giving Turner $72M deal

The signing means Indiana will have two key players—center Myles Turner and All-Star guard Victor Oladipo—under contract for the next three seasons.

Lime, Bird seeking to capitalize on scooter-mania, sources say

Both Bird and Lime, which have entered dozens of markets this year, including Indianapolis, are seeking hundreds of millions of dollars in new capital, according to sources.


Explore: Teeing up on the Simon links

A day on the Asherwood links carries a hefty price tag—starting at $1,500 per foursome—but it also comes with bragging rights.

MIKE LOPRESTI: Will the Pacers bring relief? A stroll through the home schedule

The Blue & Gold will be tested, but LeBron’s move to LA won’t hurt any feelings here.