SEPTEMBER 19-25, 2016
Interactive Intelligence Group Inc. employees are set to ring up more than $100 million in gains from stock options and restricted stock doled out by the company, thanks to the company buyout from a competitor. Jared Council stacks up this windfall against the enormous local wealth infusion from the sale of ExactTarget Inc. Also in this week’s issue, Hayleigh Colombo explores how competition for students is heating up between area schools. And in A&E Etc., Lou Harry weighs in on Rebar Indy, the swank downtown eatery that took the place of the dog-eared Legal Beagle.
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Interactive’s windfall big—but won’t create wealth ExactTarget sale did
Tech observers said they view Interactive’s sale as a net positive for the city, mostly because exit events spur some employees to invest their money and talent in new places.
Read MoreDeveloper revives 317-acre project for Westfield
Developer Chris R. White initially proposed the $300 million project known as Aurora in 2006 but it fell victim to the Great Recession.
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$2M ad campaign helps drive ticket sales for debut air race at IMS
Tourism officials say they don’t know what kind of economic impact to expect from the event but note plenty of hotel rooms are available now for the Oct. 1-2 event.
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Coroner’s office wants out of downtown building by January
The office will likely remain in the 25,000-square-foot, privately owned building at 521 W. McCarty St. the next two years while the city explores whether to move the office or have a building constructed.
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New hope surfaces for victims of Durham’s Ponzi scheme
An appeals court ruling has cleared the way for Fair Finance Co.'s bankruptcy trustee to revive a lawsuit against one of the company's lenders,a Fortune 500 company with extensive resources. The trustee was able to extract a $35 million settlement from another one of the company's lenders.
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Competition for school kids heats up across Indy
Public schools—including traditional, district-run schools and charters—are employing ever-more sophisticated advertising and marketing campaigns in an effort to meet enrollment targets by the time the official state count day rolls around.
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Super-sized laundry co-op serves 55 hospitals, 700 clinics
Just two years after United Hospital Services pushed into Kokomo by merging with North Central Indiana Linen Service, the co-op is planning its next move—this time into northwest Indiana.
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FedEx planning $170 million in improvements at airport hub
According to a tax-abatement application with the city, FedEx plans to install $170 million in new package-sorting equipment, while adding 27 full-time jobs and 178 part-time jobs. It would also retain 728 full-time and about 3,200 part-time workers.
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City Securities being acquired by fast-growing regional brokerage Stifel
The sale ends a 92-year run of ownership by the Peterson family, which opened the business five years before the onset of the Great Depression and built a preeminent position in the municipal bond business that continues today.
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Indy cracks nation’s top 10 for tech-firm office deals
Firms signed lease deals for nearly 1 million square feet of office space between mid-2015 and mid-2016 in Indy’s metro area, led by a mammoth deal for Salesforce.com, according to a national study.
Read MoreFocusBack to Top
New wave of downtown apartment projects to test demand
Construction of Penrose on Mass, Park at Pulliam Square and the second phase of CityWay will add another thousand units by the end of 2018.
Read MoreOpinionBack to Top
EDITORIAL: ITT missteps sowed fate
The Obama administration wasn’t picking on for-profit education companies to be obstinate—it had real concerns that the sector’s expensive diplomas too often left students awash in debt while failing to properly prepare them for gainful employment.
Read MoreMORRIS: Vote yes for mass transit on Nov. 8
After years of study, the reasons this is needed are numerous and well known.
Read MoreMEREDITH: What makes public schools great?
The Every Student Succeeds Act enables states and school districts to tailor the federal law to meet the needs of their community, schools and kids.
Read MoreMANISCALO: Do your customers trust your business?
The most significant action a company can take to win customers and build trust is to enhance the humanness of their experience.
Read MoreSKARBECK: Candidates fail to address nation’s financial problems
If you listen to the presidential candidates, you would think there is unlimited money available to cut taxes and spend taxpayer money like a drunken sailor.
Read MoreBOHANON & STYRING: Taxes are paid by people, not corporations
You’ll never shake hands with any corporation, nor any other non-human entity, that ever paid a dime in taxes. Flesh-and-blood people pay all taxes.
Read MoreLETTER: Agents list incomplete
The Bonwell Tanner Group with lead agents Randie Bonwell and Karen Tanner were not featured as one of the top teams in IBJ’s 2015 All-Star Agents list but stats would have ranked it No. 16.
Read MoreLETTER: Liquor laws aren’t failing
We have made mistakes trying to change liquor laws before, and if we are not careful, we will make mistakes doing so again.
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Redevelopment deal could save historic Cumberland church
After a drawn-out drama over the structure’s fate, TWG Development LLC has agreed to buy the century-old building and convert it into senior housing, contingent upon receiving federal tax credits.
Read MoreVerdure Sciences plans to build $3.5M HQ in Noblesville
Verdure Sciences has filed plans with Noblesville to build a 15,000-square-foot facility on a 7-acre property in the Metro Enterprise Park near the southwest corner of Pleasant Street and Union Chapel Road.
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CityWay YMCA to be renamed after donation from Irsay family
The YMCA at Cityway will be renamed the Irsay Family YMCA at CityWay after Indianapolis Colts owner Jim Irsay and his family made a multimillion-dollar donation to the organization.
Read MoreE-commerce firm investing $4.75M to open 75-worker Plainfield fulfillment center
VMInnovations will distribute everything from electronics to baby products from a 160,000-square-foot building it is renovating at 2812 Airwest Blvd.
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NCAA pulls 7 postseason events from North Carolina due to LGBT law
The Indianapolis-based NCAA said the decision by its board of governors came "because of the cumulative actions taken by the state concerning civil rights protections."
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