Indianapolis Business Journal

While the cheers from the IndyCar paddock were loud in the wake of the news that Roger Penske is buying the open wheel racing series and Indianapolis Motor Speedway, that doesn't mean smooth sailing for either property. IndyCar still faces significant obstacles with sponsorship and viewership, and the track could use upgrades to bring it up to speed for modern audiences, Anthony Schoettle reports. Also in this week's issue, Susan Orr digs into problems with IndyGo vendors that are disrupting the Red Line's operations and hurting the transit agency's bottom line. And Mickey Shuey examines how groups that stage large events in convention cities like Indianapolis have reacted to local plans to expand capacity for events and visitors.

In this week's issue, Anthony Schoettle has the backstory behind Shining a Light on Indianapolis, a multimillion-dollar light, sound and video show designed for Monument Circle that will play nightly beginning Nov. 9. Tourism officials think it will bring tens of thousands of people to the heart of the city annually. John Russell explores the options for St. Vincent and its flagship campus on West 86^th Street. Keeping it competitive long-term could take hundreds of millions of dollars, so might it be better off building a new campus to order? And we have one last look at the positions of Indianapolis mayoral candidates Joe Hogsett and Jim Merritt before Election Day.

In this week's issue, John Russell takes a close look at the 15 percent rate increase that Duke Energy Indiana has proposed for its customers. There’s been a lot of pushback from those who have tried to analyze the rationale for the rate hike from information Duke submitted to the state, and many have accused the utility of making it difficult to critique the financial case. Anthony Schoettle explores how universities in Indiana are playing matchmaker between angel investors and startups with ties to their schools. And Susan Orr details a lawsuit filed by J.P. Morgan Securities against one of its former Indianapolis financial advisers, alleging that he has been improperly soliciting clients to follow him to a new job with another investment firm.

In this week's issue, Mickey Shuey assesses the health of the downtown restaurant market in the wake of a spate of closings of high-profile eateries. The issue also includes a story on a painter who is adept at using data to ring up sales, and a story on on how colleges are bracing for a decline in the number of high school graduates. In addition, Greg Andrews writes about new ownership of Story, Indiana, in the wake of the death of the longtime public face of the attraction.

In this week’s issue, Mickey Shuey has a comprehensive accounting of the 18 new hotels that have been proposed for downtown Indianapolis. There’s an unprecedented number of rooms in the pipeline, but experts don’t expect all of the hotels to materialize. Also, in this issue, Anthony Schoettle explains how California’s Fair Pay to Play Act is vexing the Indianapolis-based NCAA and appears to be at the forefront of a significant shift in attitude toward allowing college athletes to earn money. And Susan Orr explores complaints against a local investment firm from clients who say brokers steered them into unsuitable investments.

Indiana-based Beck's Hybrids is the third-largest supplier of corn seed and fourth-largest supplier of soybean seed in the United States. A rare family-owned firm duking it out with corporate megastars, Beck's hits well above its weight, Anthony Schoettle reports. Also in this week's issue, Sam Stall brings us up to speed on the aggressive Nashville-based firm behind the Big Woods family of restaurants, Quaff ON! Brewing Co., Hard Truth Distilling Co. and the 325-acre culinary tourism complex Hard Truth Hills. And Lindsey Erdody reports that Indianapolis black leaders are pressing the mayoral candidates for specific details on how they would address the challenges facing the African American community. They’re asking explicitly for a black agenda, and were disappointed when Mayor Joe Hogsett said their concerns would be covered by his wider economic plan.

KAR Auction Services' roots in the physical car auction industry go back decades, but its leaders see a fateful fork in the road ahead. Greg Andrews reports that they're investing heavily in their digital business with the goal of becoming an industry leader in online auctions and in the use of data to strengthen and expand business relationships. Also in this week's issue, Mickey Shuey reports that the quasi-governmental agency that owns the city's major sports facilities is facing scrutiny from industry experts who say the group isn't properly insured for catastrophic events. And Samm Quinn explains how an administrator at a west-side high school is helping shape the characters of students by hosting barbershop sessions and cutting their hair.

As workers and employers face the annual open-enrollment season for health insurance coverage this fall, many are seeing double-digit percentage increases in premiums. John Russell reports that the dynamic is prompting even more folks to consider high-deductible plans, which sometimes have the unintended consequence of dissuading people from seeking care. Also in this week's paper, Samm Quinn explains how some Westfield residents have become skeptical of how quickly the city is growing and are pushing back against a deluge of new housing proposals. And Susan Orr takes a closer look at the next step in IndyGo's stretagy to attract more riders: Working with employers and schools along the beefed-up route system to make specialized pitches to their employees and students.

This week, Mickey Shuey takes a closer look at the big split at the heart of high-end developer Litz and Eaton. At least a dozen subcontractors and suppliers say they’re owed more than $500,000, and work has stalled on more than $16 million in projects. Also in this week’s issue, Susan Orr gets a handle on how companies in central Indiana are dealing with the expenses of tariffs in the trade war between the U.S. and China. And Samm Quinn gets us better acquainted with the first class of chefs to take residence at the Fishers Test Kitchen. Focusing on street foods, they’ll use the test kitchen to learn the ropes and then launch their concepts.

The medication Taltz has been found to treat several maladies, and it’s certainly helping Eli Lilly and Co. solve the problem of how to replace the sales from some of its older medicines. John Russell reports that Taltz is on course to reach blockbuster status with $1 billion-plus in annual sales. Also in this week’s issue, Samm Quinn examines the fight between the residents of one of Carmel’s oldest neighborhoods and a group proposing a four-unit townhouse by its main entry. Their concern isn’t just the project itself, but whether it will lead to more redevelopment that eliminates affordable housing and detracts from the charm of the neighborhood. And you’ll also want to check out our Arts and Entertainment Season Preview, with its events calendar and stories about new developments at Fonseca Theatre, Newfields and Carmel’s Center for Performing Arts.

Bloomington-based Upland Brewing Co. has opened two Indianapolis restaurants in the last year, which might seem like a switch in focus for the third-largest brewery in the state. Susan Orr reports that Upland sees its pubs in part as marketing tools and brand ambassadors for its beers. Also in this week’s issue, Anthony Schoettle has a wide-ranging story about the many challenges the Indianapolis Colts face now that centerpiece Andrew Luck is out of the picture. Nearly every aspect of the organization needs rethinking, from ticket sales to marketing to personnel moves. And Hayleigh Colombo takes a deep dive into how tech firm Genesys, which has more than 800 employees in Indianapolis, is trying to change its hiring practices to move the needle on its percentage of female employees.

This week, John Russell catches up with serial entrepreneur Don Brown and his latest startup, LifeOmic. The company’s main product focuses on using powerful data analysis to help doctors and patients predict medical risks, but it’s also finding surprise success with consumer apps for maintaining healthy habits. Also on the front page this week, Susan Orr prepares us for the debut of the Red Line on Sept. 1. IndyGo is expecting big things from the rapid transit route running north-south through the middle of the city, including a 69 percent increase in ridership along the corridor by this time next year. And Samm Quinn has an update on Zionsville’s Creekside Corporate Park, which required millions of dollars in investment from the town but currently has just one occupant.

In this week’s issue, Hayleigh Colombo explores the controversy surrounding the decision by the Children’s Museum of Indianapolis to demolish the 91-year-old Drake apartment building next to its campus. Historic preservation advocates are holding out hope for a reprieve, but the museum says it’s not interested in selling the building. Also this week, Mickey Shuey reports that Indianapolis Public Schools is about to embark on a comprehensive study of 71 properties—including schools and other buildings—to determine which ones should be closed or sold. Samm Quinn gets ahead of a big contract to be awarded by the Department of Education that could bring hundreds of jobs to Fishers. And Anthony Schoettle explores troubles at New York-based Voxx International that could lead it to sell locally based subsidiary, Klipsch, which has been a bright point for the company in recent years.

This week, John Russell takes a close look at Indianapolis Power & Light’s electricity rates. Ten years ago, they were the cheapest among the top 20 largest cities in America. But the utility has raised them 57 percent over the past decade, and it's gearing up to raise them again. Also in this week’s paper, Anthony Schoettle examines the possible repercussions of the proposed acquisition of Indianapolis Star owner Gannett by New York-based Gatehouse Media. Gatehouse would become the largest newspaper chain in the country, and many media industry observers fear that it will try to find cost savings by cutting positions in Gannett newsrooms. And Lindsey Erdody explains the seemingly counter-intuitive merger of Planned Parenthood of Indiana and Kentucky and a Planned Parenthood affiliate in the Pacific Northwest and Hawaiian islands. The combination is meant to share the Western chapter’s resources with the struggling Midwestern affiliate.

In the latest issue, Hayleigh Colombo reports that the Blue Indy electric car-sharing service hasn’t yet made a profit in four years and won’t any time in the near future. But officials say they’re in it for the long haul. Also this week, Mickey Shuey reports that Indy Parks is grappling with the future of its 13 public golf courses as interest in the sport wanes and the need for maintenance and upgrades increases. Two courses are slated to close, and two others have been recommended for closure in an Indy parks study. And Susan Orr catches up with chef Jonathan Brooks after the first anniversary of his near-east side restaurant Beholder. Brooks made a name for himself in the national culinary scene with Milktooth, and expectations were high for Beholder. But business has been slow to build since its debut.

In this week's issues, John Russell reports that private addiction treatment centers are springing up across central Indiana, with out-of-state companies spending millions of dollars in the race to treat people with substance-abuse disorders. And in many cases, they are opening high-end facilities in wealthy neighborhoods, and refusing low-income Medicaid patients in favor of those with higher-paying private insurance plans. Also in this week’s paper, Sorell Grow explains how U.S. Senator Todd Young of Indiana has become a crusader for raising the minimum age for buying tobacco to 21. The issue might not seem like a natural fit for Young, but he says he feels a moral imperative to act. And in Focus, Samm Quinn explains how local country clubs are evolving to meet the needs of millennials.

In this week's issue, Lindsey Erdody examines the track record of Elevate Ventures, which acts as the venture capital arm of the Indiana Economic Development Corp. and has invested $91 million in 313 companies. The returns so far have been modest, but Elevate isn’t necessarily all about the bottom line. Anthony Schoettle profiles Jason Hammer and Nigel Laskowski, the hosts of "The Hammer and Nigel Show" on WIBC. The station’s risk in 2016 of installing two rock n roll DJ as hosts of a news talk show appears to have paid off. And Greg Andrews asks Emmis Communications CEO Jeff Smulyan how he plans to remake the company now that he sees diminishing opportunity for growth in the radio business.

In this week's issue, John Russell profiles MindX, a startup aiming to revolutionize the measurement of pain—a notoriously tough challenge. The issue also features a profile by Susan Orr of Royal Pin Leisure Centers, which has diversified in response to the declining popularity of league bowling. And Hayleigh Colombo throws the spotlight on a not-for-profit that pays cash bail for poor people. Its motto is, "Freedom should be free."