DECEMBER 9-15, 2013
We know Herb Simon as a shopping mall magnate and owner of the Indiana Pacers, but he has additional interest (quite literally) in baseball. IBJ's Anthony Schoettle reveals that Simon is part of a consortium looking to raise $100 million to buy several minor-league franchises. It already has purchased a team in Bowling Green, Ky. In Focus, Scott Olson profiles developer Joe Whitsett, who is helping drive the herd of apartment projects headed for downtown. And in A&E, Lou Harry makes merry with the Phoenix Theatre's holiday show, "A Very Phoenix Xmas."
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Herb Simon helping fund that will acquire minor-league franchises
Herb Simon serves on the advisory board of an investment fund that is raising $100 million to buy minor league baseball teams.
Read MoreSuit slams ex-insiders of Bank of Indiana
Racketeering, fraud and “negligent oversight” are juicy ingredients in any lawsuit. But a recently filed complaint against Bank of Indiana may take the trophy in the otherwise sound-but-sleepy world of Indiana banking, not just for the nature of the allegations but that they’re aimed at the boardroom.
Read MoreShares of Indiana retailers surge in 2013
Shares of The Finish Line Inc., HHGregg Inc. and Shoe Carnival Inc. have been on a tear this year, rebounding to outperform the major stock indexes and rising at least 40 percent in value through the first of December. By comparison, the S&P 500 has gained about 28 percent.
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2-1-1 call centers see demand soar, but funding tight
Open 24 hours a day, seven days a week, Indianapolis-based Connect2Help is the busiest of Indiana’s 11 2-1-1 call centers, receiving more than 265,000 calls last year.
Read MoreColleges go social in quest for young alumni donors
University and foundation leaders throughout the state are trying to find ways to target donors 35 and younger, through online tools that could be critical to future fundraising strategies.
Read MoreProsecutors concede no ground in Tim Durham’s appeal
In a new brief, the government insists it pursued wiretaps in late 2009 only after investigating the business using less-invasive techniques for 7-1/2 months.
Read MoreAnthem, insurance trust create Obamacare alternative
Anthem Blue Cross and Blue Shield has teamed up with the Indiana Manufacturers Association to give small manufacturers an option to side-step one of Obamacare’s new community rating restrictions.
Read MoreInsurance bargain-hunters might miss out on subsidies
Hoosiers who sign up for “zero premium” health insurance in the new Obamacare exchanges might end up leaving thousands of dollars on the table. An estimated 250,000 uninsured Hoosiers could qualify for health insurance in the Obamacare exchanges that would cost them nothing—at least upfront.
Read MoreFinal piece of city land-swap deal almost done
Indianapolis Fire Department Credit Union officials are set to sign off on a deal with the city to build a facility downtown near College Avenue. That would clear the way for a $43 million project on the credit union’s current Mass Ave site.
Read MoreRegion registering impressive tech-job gains
Indianapolis’ and Carmel’s work forces were so lacking in high-tech jobs in 2001 that the void led to breakneck-speed hiring over the past 12 years as the cities caught up—faster than almost any other place in the United States.
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Whitsett pivots to market-rate apartment projects
Next up is a renovation of the vacant Consolidated Building and a redevelopment of the Indianapolis Star headquarters property, both on North Pennsylvania Street. The projects will add 600 market-rate apartments to downtown.
Read MoreLauth acquires new apartment property in Greenfield
The local developer’s purchase of the complex is part of a shift within the company to complement its traditional development business with acquired properties.
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Velocity plan for downtown signals mind-set shift
For too long, we’ve built our downtown primarily as a place to visit—whether for work, a convention or a sporting event—then leave.
Read MoreMAURER: Who’s reading this newspaper—and others?
You can learn a lot about a person by finding out what newspapers they read.
Read MoreWords can skew policy
When I wrote for IBJ last year, the word causing me the most difficulty was “progressives,” which I used in order to ask, “Where are all the progressives?” meaning persons willing to advocate street repair and other basic investments to improve our lives.
Read MoreThe pope and capitalism
American Catholics, including this convert, see much to admire in our new pope. But Catholic conservatives find it frustrating when church pronouncements on political and economic issues embrace leftist rhetoric and ignore reality.
Read MoreKim: Investors must sidestep unnecessary fund taxes
Mutual funds must conform to U.S. tax law to maintain their status, making this a tricky time of year for fund investors holding their shares in taxable accounts (i.e., not in 401(k) or IRA accounts).
Read MoreHicks: Health reform among forces stifling economy
Over the next couple of weeks, I will be traveling to many of Indiana’s cities to explain my 2014 economic forecast. I will tell audiences that the national economy will perform poorly, and that we will not return to pre-recession employment numbers this year.
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Michigan architecture firm opening local office
A Michigan-based engineering and architecture firm is expanding to Indianapolis and has signed a lease to occupy space on Massachusetts Avenue.
Read MoreSmulyan grooving to debt-reduction rhythm
Emmis Communications Corp. founder and CEO Jeff Smulyan recently told Billboard that getting a better grip on debt after the Great Recession “is probably the most gratifying thing of my career.”
Read MoreDistributor plans 60 hires for hub in Plainfield
A New York logistics and distribution company plans to add about 60 jobs in Plainfield.
Read MorePROXY CORNER: Steel Dynamics Inc.
Fort Wayne-based Steel Dynamics Inc. is one of the largst steel producers and metals recyclers in the United States.
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