AUGUST 22-28, 2016
Construction of a much-anticipated 21c museum and hotel slated to be built as part of a $55 million redevelopment of Old City Hall is not likely to start on time after the owner missed a deadline to secure financing. And this isn’t the only 21c project suffering a delay, Scott Olson reports. Also in this week’s paper, Hayleigh Colombo delves into Mayor Joe Hogsett’s plan to eliminate city pensions for new employees. And IBJ profiles 12 of the city’s most talented and accomplished chief technology officers in our CTO of the Year publication.
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Hogsett seeks to eliminate city pensions
Mayor Joe Hogsett wants to replace traditional pensions for future employees with a retirement option more like a private-sector 401(k) as a way to help erase the city’s multimillion-dollar deficit.
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Old City Hall hotel project faces financing delay
Construction of a 21c museum and hotel slated to be built as part of a $55 million redevelopment of Old City Hall is not likely to start on time after the owner missed a deadline to secure financing.
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City studies need for more hotels after losing 1,000+ rooms
The closure of a handful of hotels across the city has essentially wiped out the gains made when the JW Marriott opened with its 1,005 rooms. Now Visit Indy and the city’s Capital Improvement Board are studying whether the city needs more rooms and more convention center space.
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CountryMark revenue drops 40 percent as oil prices plunge in last two years
After a six-year run-up for the Indianapolis-based oil refiner that saw its revenue nearly double, the company has eliminated about 25 jobs, 2 percent of its workforce, in recent months.
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Kite Realty’s focus on primo locations serving it well
Kite Realty Group Trust has built an admirable record of picking winning locations for its centers and keeping them vibrant with tens of millions of dollars in upgrades.
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Anthem may sacrifice biz lines to get its Cigna deal
No one is sure whether Anthem and the Justice Department can hash out a settlement before the federal case to block the insurer's $54 billion acquisition of Cigna Corp. goes to trial in November.
Read MoreCrowdfunding rules for smaller investors foil firms
New federal rules designed to make it easier for small investors to use crowdfunding have hardly gotten traction in Indiana.
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Suburban megachurch expanding into downtown with big purchase
Traders Point Christian Church has acquired a 104-year-old building at the corner of 12th and Delaware streets and plans to spend $2 million to renovate it.
Read MoreIPS reveals sweeping plans to overhaul schools across city
Indianapolis Public Schools leaders revealed radical plans Tuesday to overhaul schools across the district, including converting John Marshall High School into a dedicated middle school.
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Candidates promise to end bickering in education—no matter who wins
The Republicans and Democrats running for governor and state superintendent say they’ll focus their energy on kids, although they have different plans to do so.
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Maxim party promoter sues Speedway over lackluster ticket sales
Karma International charges breach of contract in the lawsuit filed Tuesday, claiming damages of $817,500 in lost revenue from unsold tickets and tables at the party on Indy 500 race weekend.
Read MoreFile-management software firm grabs $1.1 million in first VC haul
SmartFile Inc. secured the investment from Vision Tech Angels and Elevate Ventures. It plans to use a majority of the cash on sales and marketing.
Read MoreTaft names new partner-in-charge for Indy office
The local office of regional law firm Taft Stettinius & Hollister LLP needed a leader to replace Robert J. Hicks, who earlier this year was promoted to managing partner of the entire firm.
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