Indianapolis Business Journal

The Indy Eleven appears to face long odds in landing a Major League Soccer franchise, a requirement the team needs to meet under pending state legislation to get more than $100 million for a stadium. Anthony Schoettle reports on the obstacles in the team’s way. Also this week, Greg Andrews has a terrific piece about the final days of Indianapolis-based HHGregg Inc. and allegations that it continued to take customer deposits on merchandise long after executives had cause to doubt it could fulfill the orders. And Susan Orr reports that hundreds of current and former members of the military have filed lawsuits against an Indianapolis maker of earplugs that were supposed to protect them from explosive combat noise.

A global partnership with Japanese personal-computer maker Lenovo—to be rolled out Feb. 25—and $34.8 million in funding secured in October has Scale Computing poised for explosive growth. Anthony Schoettle explores what’s next, including the possibility of an initial public offering. Also in this week’s issue, Hayleigh Colombo explains how a $4.3 million Lilly Endowment grant could transform a one-mile stretch of East 10th Street into a hotbed for the arts. And Susan Orr profiles Kelly Birk, a trailblazer in the local financial planning market.

First up, Hayleigh Colombo takes a closer look at the city’s 50-year deal that turned over operation of its parking meters—not to mention the majority of the revenue--to a private consortium. Also in this issue, John Russell digs into the troubled finances of The Barrington, a 271-unit retirement community in Carmel whose owner has filed for bankruptcy and is deep underwater. And Susan Orr checks in with celebrated chef Greg Hardesty about his latest venture, Studio C.

IBJ's Forty Under 40 Class of 2019 is here! Entrepreneurs, doctors and government officials join executives from banking, manufacturing and not-for-profits on IBJ's annual list of central Indiana's rising stars. Also in this week’s issue, Hayleigh Colombo examines the tenure of Indiana University President Michael McRobbie, whose low-key style belies the dramatic transformation occurring under his watch. And Mickey Shuey check on the city progress in drafting a plan to transform the Castleton area.

The Indiana IoT Lab in Fishers—which is only about a year old—is just about out of space for new tenants. In this week's issue, Anthony Schoettle explores what has made the lab so busy. Plus, Lindsey Erdody explores how the government shutdown affected small businesses—and why the pain isn't over yet. Samm Quinn explains why Westfield is banking on advanced manufacturing (in addition to youth sports) as it looks to carve out a economic niche.

The number of homeless people who died in Indianapolis hit the highest point in 2018 since advocates started keeping records more than a decade ago. Hayleigh Colombo has broken new ground on this major public safety issue by investigating the causes of death. She also explores what can be done about the trend and why some seemingly obvious solutions are far from cure-alls. Also in this week’s issue, Anthony Schoettle details concerns that the rash of local acquisitions could be eroding Indianapolis’ tech ecosystem before it fully blossoms. And Lindsey Erdody marks the progress that Gov. Eric Holcomb has made on one of his top priorities—making sure the Hoosier workforce is adequately prepared to fill the skilled jobs companies need to grow.

Ersal Ozdemir, the owner of the Indy Eleven, has big plans for a stadium surrounded by housing, retail and office space—but where to put it? Mickey Shuey explores the most likely candidates around Indianapolis. Also in this week’s issue, Susan Orr reports that FullBeauty Brands, a retailer of plus-sized apparel with a deep history in Indianapolis, has a debt load of $1.3 billion and is about to declare bankruptcy. And Anthony Schoettle asks Daniel Jones—the son of famed tech entrepreneur Scott Jones—about his plans to take market share from Uber and Lyft with an unusual approach to ride-sharing.

In this week’s issue, Mickey Shuey reveals the sweeping changes proposed for Indiana’s meagerly funded state tourism bureau, in hopes of boosting the dollars available for marketing and attracting new visitors. Greg Andrews explains how James Burkhart, the former CEO of nursing home giant American Senior Communities, is trying to get his felony conviction for fraud thrown out while he serves a nearly 10-year prison sentence. And Lindsey Erdody has IBJ’s annual accounting of the biggest philanthropic gifts across the state. The big winner for 2018: sleepy Wabash College.

Eastern Star Church on Indianapolis’ far-east side is building low-cost homes, apartments and retail space to serve the residents of Marion County’s most poverty-stricken zip codes and create a more stable sense of community. Hayleigh Colombo explains how Eastern Star is pulling it off. Also in this week’s issue, Samm Quinn details the explosive growth of downtown Fishers that has occurred seemingly overnight. And Susan Orr has the scoop on plans to transform part of Riverside Park in Indianapolis into a 650-seat amphitheater that will become home for the Indianapolis Shakespeare Company.

This is our annual Year in Review issue, which is combined with the IBJ Book of Lists. Look back at 2018's historic blitz of downtown development and a flurry of health care construction. Development got underway at The Yard at Fishers District, just one of many Hamilton County projects. Catch up on everything Amazon HQ2 and see a month-by-month list of other stories.

IndyReads, the adult literacy not-for-profit founded in 1988, has entered a new chapter after years of steeping in red ink. Finishing his second year as CEO, Ryan King has turned around its finances and significantly altered its teaching model, Lindsey Erdody reports. Also in this week’s issue, Samm Quinn reports that while Fishers officials are eager to make progress on the proposed Nickel Plate Trail, Noblesville isn’t showing anywhere near the same kind of enthusiasm for its portion of the trail. And John Russell explains how consumers can prepare for a new requirement that hospitals publicly list their prices for a wide variety of procedures—although the price they pay might be different.

The Indiana Pacers are keen to cut a deal for significant improvements to Bankers Life Fieldhouse. This week, IBJ’s Mickey Shuey gets a handle on what those might be by looking at the current state of the art in other NBA venues. Also in this week’s issue, John Russell reports that two-thirds of Indiana’s nursing homes will get lighter reimbursement checks from the federal government next year for having too many patients readmitted to hospitals within a month of discharge. And in Focus, Lindsey Erdody has a complete demographic breakdown of the 2019 General Assembly, which has 21 new members.

The driving force behind the explosive growth of Salesforce’s Indianapolis-based Marketing Cloud unit stays out of the local spotlight but is internationally renowned in tech circles. Anthony Schoettle buttonholes Bob Stutz, the elusive legend in the software industry. Also in this week’s edition, Hayleigh Colombo explores how the 2019 municipal elections are shaping up now that Mayor Joe Hogsett has officially announced his intention to run again. And Greg Andrews gets a read on why WTHR-TV Channel 13 has so far been immune to the rash of broadcast mergers and acquisitions.

City convention officials are gearing up for a big financial ask of the Indiana General Assembly next year as they set out on a $120 million expansion of the Indiana Convention Center at Pan Am Plaza—and think about future sports and tourism needs. Hayleigh Colombo and Lindsey Erdody explain how they’re getting the ball rolling. Also in this week’s issue, Mickey Shuey examines the repercussions of Indy’s apartment boom on rents. And Samm Quinn delves into how Boone County is addressing a dearth of workers for open jobs.

Amazon’s decision to split its HQ2 project between New York City and Washington, D.C., exposed just how far Indianapolis lags behind other major metropolitan areas in terms of tech talent. Anthony Schoettle reports that local leaders are busy assessing the area’s weaknesses and discussing the massive effort that will be required to make up ground. Also in this week’s issue, Hayleigh Colombo details the findings of a new report showing that, in otherwise similar circumstances, black children in Indianapolis grow up to earn significantly less than their white peers. And in this week’s Explore section, Lesley Weidenbener has the lowdown on the new twists and turns in the Eiteljorg’s Jingle Rails layout.

One of central Indiana’s oldest public companies—a trucking insurer long known as Baldwin & Lyons before its recent name change—has skidded into red ink and pursuing “potential strategic partnerships or transactions.” That’s often shorthand for a company putting itself up for sale, Susan Orr reports. Also in this issue, Anthony Schoettle examines how the city's most popular local radio stations tread the line between embracing deep-pocketed baby boomers while trying to entice a younger audience. And in the latest issue of IBJ’s Forefront magazine, our columnists weigh in on the toxicity of today’s political debate.

When first revealed two years ago, the concept for The Yard in Fishers was pretty simple: a dining and entertainment complex with room for about a dozen restaurants and a hotel. As Samm Quinn reports, the project has evolved into something quite a bit bigger and more complex in its latter planning stages. Also in this week’s paper, Anthony Schoettle explores what the death of Mari Hulman George could mean for the Indianapolis Motor Speedway and other holdings of Hulman & Co. And you can find 22 inspiring profiles for the local leaders honored by IBJ this year as Women of Influence.

Technology touches nearly every corner of business nowadays, but even the biggest firms can’t do it all. That’s one big reason why corporate venture capital is on the upswing. Companies like Eli Lilly and Co., Simon Property Group, Allegion and Salesforce have established firms to invest in tech startups and other newish ventures that can help the mothership. IBJ’s Anthony Schoettle reports on how this is playing out locally. Also in this week’s paper, North of 96th reporter Samm Quinn has dialed her focus down down to several blocks near the Monon Trail in Carmel that are in the midst of a dramatic transformation with new developments and construction projects. And in Focus, John Russell profiles academic researchers at Indiana-based universities who also have developed careers as serial entrepreneurs who commercialize their discoveries.