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Carmel auto finance firm calling it quits after 33 years, terminating 127 employees

March 30, 2020

Carmel-based auto finance company Coastal Credit LLC plans to end operations and terminate all of its employees by the middle of this year, the company said in a letter to the state.

Karuna Therapeutics, led by former Lilly research leader, opens Carmel office

March 27, 2020 | Kurt Christian

Karuna Therapeutics Inc., a publicly traded biopharmaceutical company, is developing a potential blockbuster treatment for schizophrenia that got its start at Eli Lilly and Co. decades ago.

Calls to Carmel-based travel insurer quadruple with coronavirus concerns

March 18, 2020 | Kurt Christian

Seven Corners, a global travel insurance company, is hiring and redeploying staff in the midst of the pandemic.

Carmel approves paid-leave funds for coronavirus-related absences

March 16, 2020

The Carmel City Council on Monday passed an ordinance to provide additional paid leave to city employees who need to miss work due to the spread of COVID-19.

Carmel Plan Commission to consider hundreds of new residences next week

March 13, 2020 | Kurt Christian

Carmel’s Plan Commission is set to consider several residential proposals Tuesday involving more than 270 new homes, as well as a rezoning of nearly 23 acres in Carmel’s central core for redevelopment.

Carmel veterinarian indicted in high-profile racehorse doping scheme

March 11, 2020 | The Washington Post and IBJ Staff and Associated Press

Gregory Skelton, owner of Skelton Equine Sports Medicine LLC, was charged in a conspiracy that involved creating and giving performance-enhancing drugs to racehorses, leading to the death of at least one high-profile horse.

Carmel City Council directs panel to review Hotel Carmichael cost overruns

March 3, 2020 | Kurt Christian

The Carmel City Council on Monday voted to have its four-person finance committee look into what led to $18.5 million in cost overruns on the Hotel Carmichael project. It rejected a proposal have the entire council involved in the review.

Huge cost overruns on Carmel hotel fuel questions about construction costs

February 28, 2020 | Kurt Christian

The cost of the 122-room, city-backed hotel has swelled to $58.5 million, up from $40 million when the Carmel City Council green-lighted it two years ago. Some councilors have called for an audit to dig into the details.

Carmel-based Shepherd Financial fueling growth with acquisitions

February 27, 2020 | Kurt Christian

Shepherd Financial LLC is planning to grow its workforce by 50 employees over the next five years, tripling its statewide staff, with a majority of those hires in Carmel.

Carmel man indicted on 28 fraud charges related to scheme using PayPal, eBay

February 21, 2020 | IBJ Staff

Tuong Quoc Ho, 32, conducted “an elaborate scheme to defraud businesses, consumers, suppliers, financial institutions, credit card holders, credit card companies, and identity theft victims for personal monetary gain,” U.S. Attorney Josh Minkler’s office said in a statement.

Schafer Powder Coatings moving from Carmel to Whitestown

February 19, 2020 | Kurt Christian

The company, which pulled the plug on a smaller expansion last fall, was lured to Boone County by a bigger facility that will more than double its footprint.

An early look at Carmel Clay Public Library’s $40M main branch expansion

February 17, 2020 | Kurt Christian

Carmel Clay Public Library Director Bob Swanay is scheduled to deliver an annual report on the library’s activities Monday during the City Council meeting.

Carmel startup Shiftlab using AI platform to help companies with staffing, scheduling

February 14, 2020 | Anthony Schoettle

The software-as-a-service company, which was founded in the second quarter of last year, recently secured a local tech veteran as its CEO and hit its primary goal on its seed round of funding.

Carmel’s Midtown, City Center, Clay Terrace welcoming new tenants

February 12, 2020 | Kurt Christian

From local restaurant Garden Table to the French cosmetics shop Sephora, retailers are setting their sights on the city’s hottest shopping and dining areas.

Editorial: Cost overruns for Carmel-backed hotel deserve deep scrutiny by city council

February 7, 2020

One point everyone can agree on is that, over the past two years, construction costs have skyrocketed, thanks to higher prices for materials and a severe labor shortage. But other developers who spoke to IBJ say those setbacks alone would not explain a nearly 50% increase in the project’s cost.

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