State revenue collections show impact of COVID-19 pandemic
Indiana’s monthly revenue report, released Friday, shows that the state is still falling short of the funds that were expected when the forecast was made last December.
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Elanco’s big job: Making the Bayer deal work
Now that the company has closed its $6.9 billion acquisition of the German conglomerate’s animal-health division, it must now swiftly and carefully integrate the two sprawling companies in the midst of a pandemic.
After years of struggle, WhatFriendsDo finds its wings
The online platform designed to rally support around people who are sick or otherwise in need is now on a path to expansion.
Independent music venues face closures without help
About 60 entertainment stages, bars and studios across Indiana have joined forces in a new association to fight for government assistance they say is needed to survive.
Pandemic thrusts downtown’s homelessness problem to fore
For weeks, camps of people experiencing homelessness and those suffering from substance use disorders have settled in on Monument Circle and near City Market.
IndyGo predicts long-term ridership, tax revenue drops from pandemic
Though work on the Purple Line and Blue Line bus rapid transit lines will continue, transit system says some other planned route improvements are on hold.
Plan for major apartment project next to Walker Theatre moves ahead
The proposed complex next to the Madam Walker Legacy Center would include about 344 apartment units ranging from studios to three bedrooms, with most of those likely used by IUPUI students.
ClusterTruck raising $2 million to help it expand
Chris Baggott, ClusterTruck co-founder and CEO, told IBJ that the company will use the money to expand and add new locations in its home city, Kansas City and Columbus, Ohio.
KAR Global cuts 3,000 workers, could eliminate 2,000 more
In its second quarter, the Carmel-based company lost $32.3 million and saw year-over-year revenue plummet 42%, from $719.1 million to $419.0 million.
Vonnegut Museum shifts gears on Bluebeard-managed cafe plans
Fletcher Place restaurant Bluebeard, which was the museum’s original choice of cafe operator, says it can’t tackle the project right now because of uncertainty around the pandemic.
Calumet Specialty ekes out quarterly profit; CFO stepping down
The specialty hydrocarbon and fuels products producer said Keith Jennings would resign as executive vice president and chief financial officer as of Aug. 31, just eight months after joining the company.
Pavilion at Pan Am owners eye new venue to replace soon-to-be-razed building
The operators of the Pavilion at Pan Am Plaza event center are considering building a $15 million venue in downtown Indianapolis to replace the one Kite Realty Group plans to turn into rubble as part of its massive redevelopment of the plaza.
Kite Realty reports tough 2nd quarter, but exceeds expectations
Kite Realty Trust collected 80% of base rent from tenants in the second quarter despite the pandemic. That percentage jumped to 87% in July.
UPDATE: Two NCAA divisions call off fall championships
Within hours of the board’s announcement, the Division III presidents council canceled fall sports championship and determined they will not be made up in the spring.
The Whit owner lists property for sale, with asking price of up to $120M
The nine-story building features 334 apartment units, a 540-space garage and the 16-Bit Arcade+Bar.
Steak n Shake revives car-hop service at almost half its restaurants
In an effort to drum up more business during the pandemic, Indianapolis-based Steak n Shake is rolling out a modern version of a restaurant service method that was all the rage in the 1950s.
Allison Transmission turns quarterly profit despite 49% decline in revenue
Allison Transmission Holdings Inc. on Tuesday reported second-quarter earnings that surpassed Wall Street expectations but revenue that fell short.
Performance Racing Industry hoping to hold December trade show
More than 940 exhibitors have already registered for the event, which could bring upwards of 67,000 people to the Indiana Convention Center and generate an economic impact of $65.2 million. But county health officials haven’t yet approved the event.
Ambrose plans $75M redevelopment of former Navistar plant property
Ambrose acquired the 90-acre property at 5655 S. Brookville Road in mid-July for $8.2 million—more than five years after Illinois-based Navistar International Corp. shuttered its foundry operations there.
Lilly to start testing experimental treatment for COVID-19 in nursing homes
The Indianapolis-based drugmaker said it will enroll about 2,400 residents and staff of nursing homes to test an antibody it is developing with a Canadian biotech. Nursing homes account for about 40% of U.S. deaths from COVID-19.