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A New York company has closed on its acquisition of Lafayette Square Mall and hired a management company to run the property. The new owner, Ashkenazy Acquisition Corp., plans to keep the 1.2 million-square-foot property as a regional mall and focus on filling vacant anchor spaces, since most of the smaller spaces are full, said […]
A giant Australian shopping mall company with four Indianapolis properties has put itself up for sale after a buying spree of U.S. malls drove it into financial problems. Centro Properties Group said today it is “evaluating options” to secure its financial viability. The company has a deadline of Feb. 15 to refinance $3.4 billion in […]
The Indianapolis law firm of Bingham McHale has merged with McTurnan & Turner, which specializes in litigation. Both are downtown in Market Tower. Ten attorneys and seven support staff from McTurnan & Turner will join Bingham McHale, the firms announced today. A Bingham McHale spokesman said the merger will add business litigation prowess to an […]
Eli Lilly and Co. will hand over documents to a United Kingdom agency that is investigating whether it and two other drugmakers bribed the administration of former Iraqi dictator Saddam Hussein. The U.K.’s Serious Fraud Office has requested documents from locally based Lilly as well as from U.K.-based GlaxoSmithKline and AstraZeneca, according to a Bloomberg […]
“… Frankly, if it comes down to another piece of art or another cop on the street, that’s not a close call.”
So said Greg Ballard in a post-election interview with IBJ.
With Ballard now officially on the job as mayor of…
A unit of Citizens Gas proposes building a natural-gas-fueled steam plant in Speedway to serve large employers in the town
of 12,800.
When I came on board as IBJ’s arts and entertainment editor back in May, I had no idea to what degree critical coverage of Indianapolis’ cultural offerings would be embraced by the publication and its readers. Well, I’m happy to report that the response has been terrific. And so, shortly after this weekly A&E column of reviews began appearing in IBJ, we launched a Thursday e-mail blast of previews and ticket giveaways (sign up for free at www.ibj.com/enews). That, too,…
For most of this decade, the Indianapolis residential real estate market enjoyed a good run. But in 2007 it muddled through
the doldrums just like the rest of the country, and builders pulled out all the stops to avoid getting stuck with inventory.
The Republican party dominated city government here in the 1970s, ’80s and ’90s, and for much of that time it was assumed that the party’s lock on city hall was tamper-proof. Voters proved that theory wrong in 1999. Whether it was changing demographics or the fatigue that sets in when one party rules for too long, the public turned the mayor’s office over to Democrat Bart Peterson. Four years later, Peterson easily won re-election and the Democrats won the City-County…
It was a big year for downtown development proposals. Two in particular grabbed headlines: Legends District SoDo and Penn
Centre.
When John Stowers was looking to move on from his job managing several nightclubs for an Indianapolisbased partnership in 2002, he and his wife, Patti, wanted to buy a bar he could run. In the process of venue shopping, they stumbled across a space for lease-The Terrace at Market Tower, a restaurant on the second floor of the office building at 10 W. Market St. Like other so-called amenity restaurants, The Terrace was more a perk for building tenants than…
No one is immortal, of course. When you are no longer able to do so, who will preserve your business and protect your family as you do today? There are two interrelated aspects to this simple question: Who will manage the business and who will be trustee of any trusts you may create for your family? A critical element of family businesssuccession planning is the selection and training of the next generation of managers. Can more than one child serve…
Retailers and restaurateurs have flooded Indianapolis International Airport with letters-of-interest for space in the midfield
terminal, which is scheduled to open in late 2008. The demand is “more than five times” the number of concession spaces available,
airport managers say.
At the beginning of 2007, few people outside WellPoint Inc. had even heard of Angela Braly. Nine months later, Fortune magazine
named her the fourth most powerful woman in business.
Well, the day is here when you finally get the keys to the offices on the 25th floor of the City-County Building. Congratulations. I knew you had the election in the bag all the way. Yeah, right. Anyway, I’ve noticed you have formed a number of transition teams to bring you up to speed on the various forms and functions of citycounty government. Folks way smarter than I have provided reams of information that will provide you a road map…
The retail juggernaut at 86th Street and Keystone Avenue could get even stronger in the next several years. Locally based
Premier Properties USA Inc. revealed plans in 2007 for a $750 million redevelopment of a prime corner near The Fashion Mall
at Keystone.
I prevailed on Evelyn Elkhorn to meet at the new Dunkin’ Donuts. “Doughnuts are both fattening and addictive,” she protested. “Doughnuts are delightful, and life should not be conducted as if its extension is its objective,” I insisted. She yielded, ordering a coffee and two over-sized doughnuts. As we found a convenient table, she asked, “What subject haven’t you covered this year that you wish you had?” That was a tough one. I am free to write what I wish….
An acquisition that looked daring and bold when it was announced quickly blew up on Finish Line Inc. The Indianapolis retailer
agreed in June to buy Tennessee-based Genesco Inc.–parent of Journeys, Hat World and other mall chains–for $1.5 billion
in
cash.
Meetings can motivate and inspire. Productive meetings draw the best ideas out of people. Bad meetings, however, suck the life out of attendees. While endless meetings are legendary in big companies, entrepreneurial businesses face simi lar challenges. Several times daily, somebody has the great idea to have a meeting. If you look at my calendar any Sunday night, you’ll see only a handful of meetings scheduled for the next week. But look back at the week on Friday night, and…
Indiana’s largest locally based bank, First Indiana Corp., decided to end 92 years of independence in 2007, agreeing in July
to sell itself to Milwaukee-based Marshall & Ilsley Corp. for $529 million in cash, or $32 a share.
