Glendale lands Flat Top Grill
Indy is becoming a hotbed for chain stir-fry restaurants. A popular player, Flat Top Grill, has signed a letter of intent with developer Kite Realty Group Trust to open a new…
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Zing, L’ex and Eddie Merlot
A couple of restaurant updates today:
Workers are adding a wraparound balcony to Zing, a new small-plate restaurant in the old Payton’s Place at 543 Indiana Ave. Restaurateurs…Strip-mall developer scales back as housing slump hurts small retail centers
A local developer known for its strip centers has stopped building new projects, scaled back its staff, and is trying to
unload several of its properties in an apparent bid to survive. Williams Realty Group earlier this year
shuttered its custom-home-building operation, DayMarc Homes, and now observers are wondering if owners Dave
Crockett and Marc Freije can keep the rest of Williams afloat.Hat World shows sign of recovering from lackluster year
The locally based headwear retailer Hat World made a name for itself by snatching up competitors and opening hundreds of
stores around the country. However, after sluggish sales in the fiscal year that ended Feb. 2, the company–a
unit of Nashville, Tenn.-based Genesco Inc.–says it plans to open fewer stores than usual this year so
officials can put their focus back on existing operations.Airport parking strategy might cut garage rates while still boosting revenue
Busy touting restaurants, artwork and other luxuries of the $1.1 billion midfield terminal, the Indianapolis Airport Authority
is still grappling with a few details arguably more important to passengers. Among them: How much will it cost to park? The
answer might be among the more surprising aspects of midfield. Officials are considering slashing rates
for the 5,900-space successor to Indianapolis International’s existing 1,776-space garage.BEHIND THE NEWS: Former Carmel exec goes from fast lane to jail cell
Just a few years ago, Carmel businessman Edward Okun was living the high life. By last year, his personal holdings had grown to include four mansions, a helicopter, three airplanes, 20 automobiles, and a 130-foot yacht. Today, Okun is in a Virginia jail, is represented by a public defender, and faces the prospect of spending the rest of his life behind bars. And, angry investors say, rightfully so. They charge-and government investigators agree-that Okun financed his lavish lifestyle by misappropriating…
Big crowds greet IRL in Edmonton
The Indy Racing League’s foray into Edmonton is looking good.
Sources on the ground there for this weekend’s race report that IRL race signage and promotional material posted by city officials is evident along streets,…
BW3, Madame Walker & Adobo
Wow, what a busy day. First off: No luck so far snagging a rendering of the new Buffalo Wild Wings under construction along Washington Street…
Airport forecasts fewer passengers
Airline woes will crimp the number of passengers expected to use Indianapolis International Airport next year, the airport authority projects in a 2009 budget the board will consider at its meeting tomorrow. About 4.1 million passengers are expected to pass through boarding gates – 6 percent fewer than previously forecast for 2009 but similar to […]
Shapiro’s, Harry & Izzy’s confirmed for terminal
As IBJ reported in May, Shapiro’s Deli and Harry & Izzy’s restaurants will open locations at the new midfield terminal at Indianapolis International Airport. SSP America, the airport’s United Kingdom-based food operator, confirmed the report today in a statement. The airport authority announced in April that Cafe Patachou, 96th Street Steakburgers, King David Dogs and […]
Commentary: I’m getting a taste for this stock
With supreme overconfidence garnered as a result of the Finish Line investment return discussed in my March 24 column, I instructed my retirement plan to purchase shares of Steak n Shake at $6 and change. Steak n Shake owns and operates full-service restaurants with counter and dining room seating. It also has drive-through and carryout service. I have enjoyed Steak n Shake for years, particularly the double steak burger platter and genuine chili. The place is always clean, the food…
Ex-franchisees sue Noble Roman’s
Nine former Noble Roman’s franchisees and a current operator have filed a lawsuit charging that the Indianapolis chain lied
to them about the costs and risks of opening one of its pizza and sub restaurants. The franchisees say the 1,000-restaurant
chain aggressively marketed its stand-alone, dual-brand Noble Roman’s and Tuscano’s Italian Style Subs restaurants without
testing the concept–a scheme they contend was designed to inflate the company’s stock price so owners could unload shares
at a profit.THE TRAVELING LIFE: Visiting Katmandu, Nepal: The unrest of the story
Upon arrival in Katmandu, Nepal, we learned from our tour guide that the American Information Agency was bombed the day before, causing the peace corps representatives to be evacuated, along with the families of all U.S. Embassy staff. Maoist terrorists abducted 700 students and boycotted the city, closing down a dozen industries with a strike, killings and riots. The King dissolved the government, declared a state of emergency and imposed a curfew. The royal massacre of the then King and…
UPDATE: New tourism chief known for energy
Seattle hospitality leaders say Indianapolis made a good choice in selecting current Seattle Convention and Visitors Bureau CEO Donald P. Welsh as its new tourism leader. “[Welsh] has been a driving force in getting the state to talk about tourism and engaging the governor and mayor,” said Anthony Anton, president of the Washington Restaurant Association. […]
More manufacturing? Maybe Butler did it: University’s accelerator helps plants boost business
Ten years ago, Bob McAfee bought SaniServ, an 80-year-old Mooresville institution that pioneered the making of softserve ice cream machines for restaurants. Despite the manufacturer’s longevity, a handful of competitors-one of them much larger and two roughly the same size-had cut into market share, causing SaniServ’s annual revenue to stall at about $10 million. Determined to improve upon the figure, but unsure how to go about it, McAfee turned to the Butler Business Accelerator. The 2-year-old consultancy on the Butler…
Columbia Club woos companies to boost membership
The 119-year-old Columbia Club downtown is offering corporate discounts for the first time in an effort to boost revenue and
curb declining memberships. Previously, the Monument Circle institution sold memberships only on an individual basis. Under
the new plan, corporations will receive a significant discount, on a sliding scale, if five or more employees join.Rink-Savoy, Fresh Market & more
Rink-Savoy honored
A $7.4-million renovation of the Rink-Savoy apartment building downtown (shown here) has won first place in a competition that honors the best in developments that utilize low income housing tax…Indy Racing League enters talks for new TV deal: Negotiations start this month with ABC/ESPN, but deal may be shopped to other networks to gauge interest
After the checkered flag dropped on this year’s Indianapolis 500, the green flag fell on negotiations for a new television contract between the Indy Racing League and ABC/ESPN. The current deal doesn’t expire until the end of next season, but the contract calls for the parties to discuss an extension starting this month. Sources close to both sides said ABC/ESPN pays the IRL about $10 million annually, but getting that kind of guaranteed cash beyond 2009 could be difficult. Still,…
ECONOMIC ANALYSIS: Sky-high gas prices are revving up the political rhetoric
From all the noise surrounding gasoline prices, you’d think nobody actually benefited from the high prices. But, of course, some folks do benefit. Let’s figure out who they might be. Obviously, consumers don’t benefit. The average car owner in the United States pays about $80 more per month with gas at $4 per gallon than he did back when it was $2.25. Not good news, of course, but hardly the end of the world. Folks who provide goods and services…
IU, Bloomington disagree over best sites for biz development
Indiana University and the city of Bloomington are at odds over how best to commercialize the university’s discoveries–or,
more specifically, where to commercialize them.