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As Illinois prepares to join Michigan in the recreational pot market on Wednesday, officials are renewing warnings to consumers against carrying such products over state lines.
Podcast host Mason King talks with IBJ Managing Editor Lesley Weidenbener and reporter Anthony Schoettle about Penske Corp.’s acquisition of the Indianapolis Motor Speedway, Eli Lilly and Co.’s biggest acquisition ever, trucking giant Celadon’s demise, Ambrose’s decision to pull back from the GM stamping plant site and more.
When he first pursued public office, Pete Buttigieg emphasized his McKinsey experience, claiming he was “part of billion-dollar decisions made by Fortune 500 companies.”
The school’s action comes six weeks after McCarty guided the unranked Purple Aces’ stunning 67-64 upset of then-No. 1 Kentucky, his alma mater, on its home court.
2019 was a year of big changes—some good, some bad, but all interesting. Here’s a rundown of the biggest news of the year.
The law, which passed with bipartisan support in April, created funding plans for most of a $360 million renovation of Bankers Life Fieldhouse and the construction of a $150 million soccer stadium for the Indy Eleven by diverting millions of dollars in annual state tax revenue to the Capital Improvement Board.
Penske—one of the most influential companies in the history of auto racing—will become just the fourth owner of the iconic track and will take over a series that many believe is on the upswing after many years of struggle.
Despite no state or federal elections in 2019, Indianapolis and its suburbs made plenty of political news. Voters across the state cast ballots in municipal elections, re-electing Indianapolis Mayor Joe Hogsett plus three Hamilton County mayors. The year also brought plenty of 2020 news.
The deal, which is expected to close by mid-2020, will swell Elanco from the world’s fourth-largest animal health player to the second-largest, behind only New Jersey-based Zoetis.
Ambrose had detailed plans in 2018 for a $1.4 billion, mixed-use development called Waterside—and said construction would start in 2019. But on Sept. 27, Ambrose said it planned to reposition its business and move away from mixed-use and office projects, including Waterside.
When Scotty’s filed for Chapter 11 bankruptcy protection in December 2018, it had 19 locations, including seven Indianapolis-area Scotty’s Brewhouses and a Thr3e Wise Men Brewing Co. in Broad Ripple. By the middle of this year, most of those had closed, including all the Indianapolis-area sites.
The December announcement brought to a bitter close one of central Indiana’s great entrepreneurial success stories. Stephen Russell, the son of a New York City taxi driver, launched the business with a single truck in 1985 and grow it into the largest provider of international truckload services in North America, with more than 150,000 annual border crossings between the United States, Canada and Mexico.
In August, GateHouse Media, a chain backed by an investment firm, announced it was buying Virginia-based USA Today and Gannett Co., which owned The Indianapolis Star, for $12.06 a share in cash and stock, or $1.4 billion. The deal closed in November.
In one of the year’s highest-profile tech deals, two out-of-state private equity firms took a majority stake in Fishers-based tech company ClearObject, which for years has ranked among the fastest-growing firms in the Indianapolis area.
Aleesia Johnson, a longtime ally of charter schools, was named superintendent of the state’s largest school district—Indianapolis Public Schools—in June, after filling the job on an interim basis for several months.
Inez Evans started as IndyGo’s president and CEO just before the Red Line launched in September—a time of great promise but also complications.
Aasif Bade has brought in a new team and made a series of promotions as he’s looked to pivot the Ambrose’s focus from a mishmash of developments to more projects in the e-commerce and industrial sectors—in hopes of capitalizing on continued growth and market demand.
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Launched in 1980, the food bank crossed the threshold this year of delivering more than half a billion pounds of goods over the life of the organization. And it’s ramping up aggressive plans to more than double its annual distribution total.
Officials are asking the public to steer clear of the area as heavy equipment is used to install and fill the sand traps and fight erosion during a time of high water levels on the lake.
