COVID-19 uncertainty makes economic predictions more difficult
Economists are struggling to understand how bad the fallout might get and how long it might take to recover.
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Retail real estate scions to battle in court–again
David Simon and Bobby Taubman are battling now in court over whether Simon Property Group is obligated to complete the $3.6 billion purchase of Michigan-based Taubman Centers that it announced in February.
City’s last traditional costume shop closes permanently after 50 years in business
Costumes by Margie, which opened in 1970, almost changed ownership last month, but the pandemic ruined those plans
IndyCar plans season’s first races with fans in stands next month
Tickets are being sold for races July 11 and 12 at Road America, a four-mile, 14-turn road course in Wisconsin where fans can spread out. And a limited number of tickets will be available for the races at the short oval at Iowa Speedway on July 17 and 18.
Simon sues tenant Brooks Brothers, seeks $8.7M in unpaid rent
The suit, filed Wednesday in Marion County Superior Court, says the retailer failed to pay rent for April, May and June while closed during the pandemic.
Sen. Rubio introduces bill to help NCAA make uniform compensation changes
Florida Sen. Marco Rubio’s bill would protect the NCAA from being challenged in court if the association changes its rules to allow athletes to earn money for endorsement deals and personal appearances.
Rival Taubman says Simon has buyer’s remorse on mall merger
Taubman Centers said in a filing alleging illegal termination that rival mall landlord Simon Property Group knowingly assumed the risks of the pandemic at the time their $3.6 billion merger deal was announced.
Protesters sue city over IMPD’s use of tear gas, pepper balls during demonstrations
The American Civil Liberties Union of Indiana filed the lawsuit Thursday in the U.S. District Court for the Southern District of Indiana on behalf of Indy10 Black Lives Matter and three individuals.
Six-story apartment building planned for vacant lot on Carmel’s Main Street
A developer is reworking his plans for an apartment building on Carmel’s Main Street to align the proposed $17 million project with future needs of residents and increase its chances of getting city approval.
Area homebuilders see applications sink for first time this year
Permit filings had been on the rise in nine of the last 10 months before pandemic-related issues finally took a toll on numbers last month.
Mass Ave Toys closes after 14-year run
The owner, who has operated toy stores for more than 40 years, said she closed the shop so she could retire.
Indiana’s K-12 schools won’t face state funding cuts, Holcomb says
Gov. Eric Holcomb and state lawmakers have agreed to move forward with the current budget, he said during a scheduled video conference. That includes maintaining the planned $183 million increase in school funding.
Area existing-home sales sank 23% in May as prices hit all-time high
May’s sales decline in the 16-county central Indiana area came on top of a 16.8% year-over-year decrease in April.
Carmel City Council OKs more than $27M for developer bonds, tax shortfall
The Carmel City Council approved bonds for four development projects and covered a property-tax shortfall at its Monday meeting.
City partnership aims to reimagine public safety in Indianapolis with community’s help
The goal of the partnership with the Criminal Justice Lab at the New York University School of Law is to create a new community-driven and community-monitored vision of criminal justice in Indianapolis.
Simon Property, Brookfield, Authentic Brands in talks to buy J.C. Penney
Authentic and Simon Property Group also are in discussions with Brooks Brothers Inc. on a joint bid that would be part of a potential bankruptcy filing by that clothing retailer.
Lilly testing third potential treatment for COVID-19
The Indianapolis-based drugmaker said it is launching a global trial for the anti-inflammatory drug baricitinib, which it launched two years ago to treat moderately to severely active rheumatoid arthritis.
Car dealers hungry for inventory after factory shutdowns leave lots depleted
Automakers essentially halted production for eight weeks—from mid-March through mid-May—as the pandemic wreaked havoc on supply chains and sparked concern for autoworker safety.
IndyGo running out of office space, but board members don’t agree on fix
IndyGo is investigating whether to purchase the former Harrison College site for millions of dollars to use as additional space—but some board members are not convinced doing so is a good idea.
Pandemic propels telemedicine’s growth into overdrive
Telemedicine is a $21 billion worldwide industry that has long promised to overhaul health care but struggled as recently as six months ago to get steady traction.