School district revives defunct Marsh store as nifty preschool
Shelbyville Central Schools bought the property and spent $13 million on a wholesale renovation and redesign to accommodate hundreds of children.
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Cleveland-based firm buys Indy fiber network, plans $38M expansion
Cleveland-based Everstream Solutions LLC announced Tuesday that it has agreed to buy a 200-plus-mile Indianapolis-based fiber network from Dallas-based DataBank Ltd. and quadruple the network’s size. The service area will expand to cover Indianapolis and parts of Hamilton County.
Private equity firm to buy Carmel-based Orchard Software, fund growth
Founded in 1993, Orchard has grown to become the seventh-largest software development firm in the Indianapolis area, with 275 employees and $40 million in revenue for 2018.
Sanders pushes tax on companies where CEOs earn far more than workers
Under Sen. Bernie Sanders’ plan, the government would increase a firm’s corporate tax rate if its highest-paid employee earns more than 50 times what its average worker does—an attempt to encourage companies to distribute their profits more equitably.
Markets cap turbulent third quarter with positive end
U.S. stocks climbed Monday and gave one last nudge to ensure the Standard & Poor’s 500 emerged from yet another tumultuous quarter with a modest gain.
Elanco to reduce global workforce by 4.3%
The company is eliminating 250 jobs as part of a restructuring that’s expected to result in at least $12 million in savings in 2020.
Lab-testing giant enlists Hc1’s software to smarten test utilization
The Indianapolis-based company’s software employs machine learning to prevent health systems from ordering too many or too few tests, a mistake that can lead to missed diagnoses and costly procedures.
Plans for King Cole Building call for $21M redevelopment, Motto hotel
Indy Propco LLC, which has owned the 11-story building at 1 N. Meridian St. since January, wants to turn the property into a Motto by Hilton that would have at least 116 rooms, according to plans recently filed with the Indianapolis Historic Preservation Commission.
Marion County halts prosecutions for simple marijuana possession
The policy shift is meant to free up resources to focus on violent crime in Indianapolis. More serious marijuana offenses involving more than one ounce of pot will still be prosecuted.
Auto-auction giant KAR rebrands to reflect global scope
The rebranding of the company coincides with the debut of its new, $80 million headquarters in Carmel.
Indy Chamber endorses Hogsett in mayoral race
The Indy Chamber has endorsed Democractic incumbent Joe Hogsett in this year’s mayoral election, but also praised Republican challenger Jim Merritt for his work in the Indiana General Assembly.
California to let college athletes make money, defying NCAA
California will let college athletes hire agents and make money from endorsements, defying the Indianapolis-based NCAA and setting up a likely legal challenge that could reshape amateur sports in the United States.
Kenzie Academy raises $7.8M in venture capital
The tech apprenticeship and coding school said it plans to use the cash infusion to help it expand its tech-focused educational offerings and grow its enrollment nationally and in Indianapolis.
IBJ Podcast: This vice principal’s ‘barbershop’ helps turn boys into men
Fred Yeakey at Providence Chriso Rey High School in Indianapolis has found a way to encourage high school boys to let their hair down while he helps shape the way they see opportunities.
Forever 21 fashion chain files for Chapter 11 bankruptcy
Indianapolis-based Simon Property Group counts Forever 21 as its sixth-largest mall tenant, excluding department stores, with 99 outlets covering 1.5 million square feet, as of March 3.
Indiana election upgrade still leaves widespread use paperless voting
Security experts have urged for adoption across the country of paper-based voting systems, saying they are less vulnerable to manipulation and election workers can use those records to audit results.
Downtown restaurants too good to miss (and just happen to be located in hotels)
When a flight delay caused a late check in or a business meeting ran overtime, the on-site eatery at your hotel was the meal of last resort—and was nearly always approached with low expectations. That may still be the case in some areas, but it certainly isn’t in downtown Indianapolis.
The next exhibit at the Children’s Museum is always the CEO’s favorite
The Children’s Museum of Indianapolis CEO Jeffrey Patchen answers IBJ’s questions about the museum’s growth and what’s ahead.
