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IPS student arrested for gun possession

A 16-year-old Indianapolis Public Schools student was arrested Thursday for bringing a gun to school, according to police. The student was apprehended by Emmerich Manual High School security at about 2 p.m. after finding a .38-caliber handgun in his pants pocket. A school administrator called police after two male students were caught smoking in a restroom and searched. The student was charged with possession of a firearm and possession of a firearm on school property.

Former Colt opening downtown event venue

Former Indianapolis Colt Gary Padjen is turning a vacant 18,000-square-foot building near Lucas Oil Stadium into a venue he is hopeful will host everything from Super Bowl and other corporate parties to concerts and mixed martial arts bouts.

Downtown’s Nestle Inn under new ownership

Nearly 12 years after opening Nestle Inn Bed & Breakfast, Steve and Barb Tegarden decided to sell the business at 637 N. East St. to marketing and hospitality veteran Leesa Smith and her husband.

Shoe Carnival quarterly earnings rise 15 percent

The Indiana-based footwear and accessories company reported Thursday that its earnings rose to $10.5 million for the period ended Oct. 29, up from $9.1 million a year ago.

IU unveils $15M donor for biz-school expansion

Bigger and better surroundings for undergrads at Indiana University’s Kelley School of Business will be named Hodge Hall, in honor of an alumnus James Hodge, who is giving $15 million for the project.

Shelbyville’s SCB Bank scrambles for capital

A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.

Mass Ave deal’s brokerage fee raising eyebrows

A real estate brokerage picked by the city to spearhead redevelopment of a prime Mass Ave parcel occupied by the Indianapolis Fire Department stands to collect a million-dollar-plus payday if it closes the deal.

IPS hopes new high school attracts high-achievers

Christine Collier, the longtime leader of the Center for Inquiry elementary and middle schools, is designing a high school within the Indianapolis Public Schools system that officials hope will draw students who now attend some of the highest-achieving K-8 schools in the IPS system.

Bank hits Centre Properties with $43M suit

Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.

Ski-lodge-themed facility planned for Union Station

The NFL is spending hundreds of thousands of dollars to build a posh 15,000-square-foot hospitality area inside Union Station’s Grand Hall for this year’s Super Bowl. The facility will be a perk for the league’s best corporate partners, former players and coaches, and other high-rollers.