Indianapolis Business Journal

The $175 million Center for Performing Arts was in danger of becoming an albatross for Carmel after its debut some four years ago. Thanks to new leadership and a strategic plan, it has closed its books on its 2013-14 season with a profit. Andrea Davis details even more ambitious plans to boost fundraising and audience engagement. Also this week, Jared Council profiles a new app from Indiana developers that blends all aspects of music consumption, and Lou Harry drops in on The Grub House, a new greasy spoon.

Charles Venable inherited a shaky situation as the new CEO of the Indianapolis Museum of Art, including disappointing attendance figures and a penchant for overspending. In this week's issue, Lou Harry surveys Venable's first two years on the job as he has tried to right the ship. Also in this issue, Scott Olson notes new investments in the once-blighted Holy Cross neighborhood, and Kathleen McLaughlin shares the state's plans to create a bicentennial plaza by the Statehouse.

Herff Jones is a quiet company, turning the academic merchandise market into a $700 million business with little fanfare. So quiet that it was able to change its name to Varsity Brands Inc. and move its headquarters from Indianapolis to Memphis with few realizing it. This week, IBJ sheds light on the transition and reports that the employee-owned company is for sale. In Focus, Scott Olson spotlights the palatial white elephants in Indy's real estate market. And in A&E Etc., Lou Harry reviews Milktooth in Fletcher Place.

On a basketball team, Rick Fuson would be both your sixth man and most valuable player--a guy who hustles for every rebound and has a knack for giving you what you need when you need it. Anthony Schoettle reports that these traits made him the ideal candidate to take over as the Indiana Pacers' new president. Also in this issue, we present the Michael A. Carroll Award to Rollin Dick,  the former CFO of Conseco devoted to not-for-profit board service and supporting the arts. And in A&E Etc., Lou Harry has a surprising dining review of Broad Ripple's new beer barn Hopcat.

IBJ’s inaugural Interview Issue showcases conversations with some of the Indianapolis area’s biggest thinkers and innovators, from such established executives as Jeff Smulyan to community leaders including Lewis Ferebee, from newsmakers like Angela Braly to up-and-coming leaders like Denver Hutt.

The I-465 and Michigan Road interchange would be the front doorstep to a $25 million sports complex with facilities for hockey, basketball, and volleyball, under a plan from Indiana Ice owner Paul Skjodt. In this week's IBJ, Anthony Schoettle has details on the proposal. Also this week, J.K. Wall has the latest on the legal brawl between Steve Hilbert and hardware magnate John Menard. And in A&E Etc., Lou Harry pulls up a seat at Javier's Hacienda, which has taken the place of the fabled El Sol on East Washington Street.

Hamilton County leaders are working with businesses to avoid budget-busting surprises in tax revenue. Reporter Andrea Davis explains their focus on combatting tax appeals on commercial properties, especially for businesses that already have benefitted from tax incentives. Also this week, Anthony Schoettle documents an exodus of longtime sportswriters from The Indianapolis Star. And Cory Schouten has the details on a court battle over an historic home in Fall Creek Place that was demolished without authorization.

Two of downtown's largest office buildings are close to getting new owners. Scott Olson reports on the likely fates of the 36-story Regions Tower and 30-story Market Tower. Also this week, Kathleen McLaughlin reveals how Monarch Beverage Co. is taking aim at state regulators in its aggressive bid to break into hard-liquor wholesaling. And in A&E Etc., Lou Harry recounts the tale of a lost sculpture designed by Roy Lichtenstein that now resides on the front lawn of the Indianapolis Museum of Art.

The Indiana Blood Center is set to lose more than one-third of its revenue early next year as some big hospital clients defect to the American Red Cross. J.K. Wall explains how the 62-year-old institution plans to reinvent itself. Also this week, Anthony Schoettle provides the view from the stands as Indy's pro sports franchise all post attendance gains. Is the city's fan base becoming overextended? And be sure to catch Lou Harry's Arts & Entertainment Season Preview, available in your subscription copy or in IBJ at newsstands.

The theme of this week's issue is "comebacks." Scott Olson reacquaints us with homebuilder Brad Davis and Paul Estridge Jr., whose prominant companies faltered during the housing downturn but have re-emerged in new incarnations. Norm Heikens explains how Hoosier incomes are rebouding. And in A&E, Lou Harry shows off the latest great games from GenCon as the nation's board- and card-game renaissance continues. 

Eli Lilly and Co. once was a pioneer in biotech drugs and treating autoimmune diseases, but abandoned the fields in 1991. Subsequently, biotech autoimmune medicines have become best-sellers. This week, J.K. Wall details how Lilly has been trying to get back in the game. Also this week, Anthony Schoettle reports the Indianapolis Indians' stock buy-back offer might be undervaluing the franchise. And in A&E Etc., Lou Harry reviews Bar Rio.

The cost of the Marion County's new criminal justice center could provoke sticker shock, but the novel way that Mayor Greg Ballard wants to finance it could put voters at ease. Kathleen McLaughlin examines the all-inclusive model that would boil down costs down to a single annual fee. Also in this week's issue, Andrea Davis tells the story of a Zionsville family that turned a summer project into a peanut-butter manufacturing business. And in A&E Etc., Mike Lopresti swaps baseball stories with Indianapolis Indians icon Max Schumacher.

This week, see what a Minnesota developer has planned for a 15-story building across the street from Bankers Life Fieldhouse downtown and find out why Center Township's trustee was driving a car with with police plates.  In Focus, check out ways banks are trying to appeal to wary millennials. And in A&E, see what our review crew thought of the new Yolk eatery in CityWay.

Budget hawks in Carmel want the city to be more prudent in cutting deals with developers. Andrea Davis explains how money will get tighter in coming years. Also in this week's issue, Scott Olson reveals plans for a five-story office building in Broad Ripple, just as the furor over another neighborhood-topping structure dies down. And in A&E Etc., Lou Harry reviews Fletcher Place newcomer Chilly Water Brewing Co.

Two friends have turned their enthusiasm for drones into a manufacturing operation projected to produce up to $10 million in revenue next year. IBJ's Dan Human has the story on AirDroids and its briefcase-sized Pocket Drone. Also this week, Andrea Davis profiles an Anderson-based financial planner who uses cookikng lessons to teach fiscal principles. And in A&E Etc., Lou Harry conducts an exit interview with Theatre on the Square's Ron Spencer, a foundational figure in local contemporary theater.

Growing demand for high-end, low-maintenance living is fueling an apartment-building boom in Indianapolis’ northern suburbs—and raising concerns among some leaders about the risks of adding too much too fast. Andrea Davis examines changing attitudes toward apartments and whether the market can bounce back from the big influx. Also in this issue, Dennis Barbosa outlines a proposal to move Indianapolis police officers into the city's most dangerous neighborhoods. And in A&E Etc., Mike Lopresti visits all five minor-league baseball franchises in the state.

Ambrose Property Group is making a name for itself by buying struggling office properties and reviving them. This week, Scott Olson focuses on its latest diamond-in-the-rough project as Ambrose takes a stab at rehabbing a 436,000-square-foot complex at 500 N. Meridian. Also in thio week's issue, Kathleen McLaughin details the Indy Chamber's effort to stem membership losses. And in Focus, Dan Human profiles the family firm Pillow Logistics as its owners prepare for a generational shift in leadership.