Indianapolis Business Journal

Within days of a group of Indiana utilities asking regulators for permission last month to charge ratepayers for revenue they stood to lose because of the COVID-19 pandemic, thousands of people from all corners of Indiana sent a flurry of complaints to the Statehouse. Utilities say they are dealing with a rare challenge, but the outpouring of reaction seems to show that Indiana customers are in no mood for another rate increase, John Russell reports. Also in this week’s issue, Greg Andrews surveys the renewed hostilities between real estate magnates David Simon and Bobby Taubman now that Simon is pulling back from a $3.6 billion to buy the latter’s company. And Susan Orr explores the difficulties that Indiana economists face when trying to forecast the future of the state’s economy.

In this issue, Lindsey Erdody takes stock of how the state plans to dole out the $2.6 billion in relief aid it was allocated by the federal government. The issue also includes a look at the performance of car dealers, who are struggling with depleted inventories at the same time customers are returning to showrooms. And Greg Andrews' Behind the News column looks at the push and pull between retail landlords and tenants over whether tenants should receive rent concessions. In addition, the issue includes the latest installment of Impact Indiana, including a story on a business-community partnership that's seeking to reduce diabetes in three neighborhoods.  

After taking the one-two punch of the coronavirus crisis and damage from rioting, downtown is at a crossroads. The latest issue of IBJ tackles the question of how the city's core can recover. And Vop Osili, Erica Wells, Deborah Daniels and Marshawn Wolley share their perspectives on what needs to come next. Also in this issue, Marc Allan examines how WISH-TV Channel 8 has covered the racial equality demonstrations, their sometimes violent aftermath and the city’s response. Last year, WISH was purchased by Indianapolis native DuJuan McCoy, who became the only black owner of a TV station in a Top 50 U.S. market. One of his goals as an owner has been to increase and deepen the station’s coverage of diversity issues. And Anthony Schoettle reports on the run on bicycles at local bike shops, as riding has surged in popularity during pandemic lockdowns.

Our sixth annual Innovation Issue takes a deep dive into “design thinking”—the name for a particular way of coming up with products and services to solve customers’ problems. It also explores how implicit bias can undermine innovation and how a little-known not-for-profit is helping pioneer innovation at the intersection of power and transportation. In addition, check out profiles of the Low brothers, who are serial entrepreneurs in the field of life sciences, and Beth St. Clair, who's using improv to foster leadership and teamwork in the workplace.

In this week's issue, Susan Orr explores how eight Indiana public companies landed loans under the Paycheck Protection Program, which was intended to support small businesses. The issue also includes a story by Sam Stall on the Indiana Donor Network's new capability to recover organs for transplantation at its own facility, and a story by Lindsey Erdody on how rich unemployment payouts to laid-off workers are complicating efforts to rehire them. In addition, sports columnist Mike Lopresti looks back at 1945, the last year in which May lacked an Indianapolis 500.

In this week's issue, Mickey Shuey takes a deep dive into the debt problems facing Indianapolis-area hotels in the wake of the COVID-19 devastation. The issue also explores the refinancing boom spurred by low interest rates and the outlook for gyms as they prepare to reopen. With sporting events still shutdown, columnist Mike Lopresti looks back at some classic games involving Indiana teams and imagines new endings.

As we begin tiptoeing back toward the office and other workplaces, John Russell examines the latest information on who is most vulnerable to COVID-19. That includes seniors and people with high blood pressure, diabetes, kidney disease and other chronic conditions. Also in this week’s issue, Samm Quinn explores how couples who have been planning their dream weddings for months and even years have needed to completely reimagine their nuptials—or postpone them until 2021—due to coronavirus crisis. And Lindsey Erdody profiles the five Democrats vying for Susan Brooks' seat in the 5th Congressional District. (You'll recall we featured the GOP hopefuls last week.)

The novel coronavirus has much of our attention for the time being, but there are more high-stakes decisions to make on the horizon. Republican Congresswoman Susan Brooks isn't seeking reelection this year, which has led to a deluge of candidates in the 5th District. Fifteen of them are in the GOP, and Lindsey Erdody has profiled each one while also outlining what is so different about this year's election. (The Democrats are next week.) Also in this week's issue, John Russell delves into the growing effort to beat back the coronavirus by tracing the personal contacts of people who have tested positive. And Samm Quinn explores the mounting crisis of unpaid apartment rent as millions of Hoosier file for initial unemployment benefits every week.

This week, as companies start to plan their reopenings, IBJ takes a comprehensive look at what post-pandemic workplaces will look like, from offices and restaurants to factories. We also feature a Q&A with an infectious disease specialist who shares insights on how to execute a reopening in the safest possible way. In other news, we profile Probo Medical, which is experiencing explosive growth, and run down the state's plans to encourage vote by mail in the June 2 primary.

Indianapolis businesses and not-for-profits are expected to file a deluge of lawsuits against insurance companies over their refusal to pay claims related to the COVID-19 crisis. Susan Orr examines the legal issues and digs into the arguments in two suits that were among the first to be filed. Also this week, Anthony Schoettle reports on the financial hit local TV stations are taking despite the boost in ratings caused by the coronavirus. And John Russell looks at the low levels of public health funding in Indiana and explores whether that has hindered the state as it battles COVID-19.

Government and public health officials for weeks have been saying the COVID-19 crisis in Indiana hasn't yet peaked. This week, John Russell delves into what goes into projecting the peak and when it's likely to hit. The issue also features a story from Lindsey Erdody exploring Lilly Endowment's outsized role in funding safety-net services for the state's most vulnerable during the crisis. And Mickey Shuey explores how the pandemic might affect the timetable for the $360 million Bankers Life Fieldhouse renovation project. In addition, Mark Montieth tells the tale of the Indianapolis Indians' 1955 stock sale. A share bought back then for $10 now is worth some $46,000.

We’ve blown up the typical lineup of the paper this week to bring you a wide-ranging package of profiles, focusing on small businesses that have been impacted by the coronavirus crisis. We ask the owners how they’re seeking to persevere—and potentially gain a competitive advantage when normalcy returns. Also in this week’s issue, Samm Quinn explores how nearly $350 billion in federal money earmarked by the CARES Act could help keep Indiana small businesses going. And Mickey Shuey explains how Indianapolis’ major cultural institutions—such as the Indianapolis Symphony Orchestra and Indiana Repertory Theatre—are assessing the damage and planning to survive big hits to their operating revenue.

Prior to March, Dr. Kristina Box was an almost anonymous public servant, despite her relatively high rank as state heath commissioner. Now she’s front-and-center every day as the state’s point person in batting the COVID-19 epidemic, which has claimed dozens of lives and threatens to overwhelm hospitals. John Russell profiles career-long obstetrician and gynecologist who now plays a key role in containing the spread of the disease and shaping the state’s recovery from a catastrophic event. Also in this week’s issue, Susan Orr explains how central Indiana banks are handling commercial customers who suddenly have found themselves unable to make loan payments because of pandemic-related business disruptions. And Greg Andrews examines how the coronavirus is thwarting years of hard-earned progress for Indianapolis-based Republic Airways.

Coverage of the repercussions of the COVID-19 crisis dominates our front page this week. Reporters Mickey Shuey and Kurt Christian hit the trenches to learn what small businesses are doing to survive. Samm Quinn explores the challenges facing low-wage workers, who typically have very little cushion for work stoppages. And Greg Andrews has a fascinating piece about the Indianapolis-based NCAA, which was forced to cancel March Madness. The group relies heavily on the hundreds of millions of dollars it earns annually through its TV contracts for the tournament. This raises the question of how the governing body for collegiate sports can function without that revenue.

Mickey Shuey surveys the city’s grand vision for the Castleton shopping center corridor. A new report on the potential for remaking the area calls for spending $93 million over several years on infrastructure to improve connectivity and walkability, encourage new housing and heightening the visitor experience. Also in this week’s issue, Samm Quinn explores how Indianapolis leaders plan to root out historical inequalities of race, place and identity throughout city-county government. And Susan Orr has the latest on three housing and hotel projects that are in the works at the former Fort Benjamin Harrison site in Lawrence.

Anthony Schoettle reports that the long-planned 16 Tech Innovation District along Indiana Avenue has reached a pivotal moment. The first office building in the $500 million project will open in June, which could serve as a catalyst for tremendous growth on the 50-acre campus and elsewhere downtown. Also in this week’s issue, Mickey Shuey takes a close look at the effects so far of the coronavirus epidemic on Indianapolis’ tourism industry. And Lindsey Erdody unpacks the tensions between state lawmakers and Indianapolis officials as the Legislature considers several bills aimed directly the Circle City. Some folks say lawmakers are inserting themselves too far into local affairs.

This week, Kurt Christian takes a close look at the cost overruns for Carmel’s Hotel Carmichael project and whether they’re consistent with rising construction costs industrywide. Experts say material and labor costs have increased by 20 percent or more in recent years, but the 46 percent rise in the Carmichael project’s cost is definitely outside the norm. Also in this week’s issue, Lindsey Erdody reports that Indiana could have a significant role to play in the Democratic primary process. The heated battle for the nomination suggests the state could have a contested primary on May 5, and that could pack a punch for the state’s economy in terms of campaign events, advertisements and staffing. And Susan Orr reports that the city of Indianapolis is looking at whether it can secure $72 million in funding for a long-planned Decatur Township road project that supporters say would spark economic activity along one of the county’s least-developed corridors.

John Russell has a story of dissension in one of central Indiana’s wealthiest neighborhoods. Geist Reservoir is in serious need of regular maintenance to clear out weeds and algae, and more than 1,400 households want the state to approve a special taxing district to pay for it. But others oppose the move, saying the taxes would mostly benefit lakefront property owners, not those who live a few blocks away. Also in this week’s paper, Samm Quinn reveals that the state’s schools for the deaf and blind in Indianapolis will need nearly $100 million in upgrades over the next 20 years, which has spurred officials to consider building new schools on a shared site. But some advocates, lawmakers and alumni worry that the state is motivated by the value of the real estate for the two campuses on the north side, which would be very attractive to developers. And Lindsey Erdody explores scenarios for the outcome of the investigation into a former Indianapolis gambling company and how two casinos planned for Gary and Terre Haute might be affected.