Earth Fare grocery chain bagging all of its stores
Following a round of closures earlier in the year, the high-end, organic-heavy chain says “challenges in the retail industry” have hindered its ability to pay off debt.
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Hamilton County chief deputy treasurer files suit against former coworker, political foe
Hamilton County Chief Deputy Treasurer Kim Good is pursuing defamation charges against a former co-worker who claimed Good engaged in nepotism and fired her to cover it up.
Stocks rise on Wall Street, but China’s main market dives
Technology companies led U.S. stocks higher in midday trading Monday as global markets mostly calmed down following a sharp sell-off last week over worries about the spreading virus outbreak in China.
UPDATE: Simon, partners bid $81 million for bankrupt Forever 21 chain
The deal is the latest evidence of Simon’s willingness to step into an ownership role to rescue mall chains that overexpanded and made other blunders as the internet roiled the fashion-retailing industry.
Survey: U.S. factories expand for first time since July
New orders, production and export orders all grew last month. Factory hiring dropped for the sixth straight month but at a slower pace than it did in December.
Indianapolis-based Miller Pipeline sold as part of $850M deal
CenterPoint Energy Inc. has agreed to sell two subsidiaries, including Indianapolis-based Miller Pipeline, for $850 million to infrastructure services provider PowerTeam Services LLC, the companies announced Monday. Miller Pipeline employs more than 3,500 people.
IBJ Podcast: Colts legend Gary Brackett wants to turn his underdog story into a movie
Gary Brackett talks with podcast host Mason King about the challenges of making a movie, why he thinks he has a good story to tell and why he’s not just funding the movie’s $2.2 million to $2.5 million budget.
Billionaire Bloomberg proposes tax plan aimed at wealthy
Billionaire Democratic presidential candidate Mike Bloomberg is unveiling a tax plan that would target the richest Americans—increasing rates on capital gains and corporate gains as well as introducing a new 5% surtax on incomes above $5 million.
China readies cushion for virus shock when markets re-open
China’s central bank announced plans Sunday to inject 1.2 trillion yuan (about $173 billion) into the economy to cushion the shock to financial markets from the outbreak of the new virus when trading resumes Monday.
Carmel hotel project more than $20 million over original budget
City officials, on Friday night, said the total price tag for the city-backed Hotel Carmichael project has risen to $58.5 million due to rising construction and labor costs.
Judge orders mediation in fight between city, Ambrose over Waterside project
Marion Superior Court Judge Timothy Oakes said he does not believe the court system was the correct arena for the dispute, which he said is more of a business conflict than a legal matter.
Former Colt Gary Brackett raising money for a movie about his life
The Indianapolis restaurateur, who owns the Stacked Pickle chain, has been working since 2017 to bring his story to the big screen; this month, he launched a crowdfunding campaign to help raise part of the cost.
New public media company draws on savvy of hedge fund manager
Industry veteran Jeff Smulyan is pairing with a low-profile New York hedge fund manager once described as “the most important, least known man in TV.”
Can BlueIndy flop become transit opportunity for city?
Stakeholders tell IBJ they’d like to see the electric-car-sharing service’s infrastructure continue to be used in some fashion.
Like never before, marketers are using your personal data to tailor their messages
Your smartphone, tablets, speakers and smart TVs are all acting as magnifying glasses for companies that pay billions of dollars to get an up-close and personal view of you.
Delta, American Airlines suspend flights between U.S., China
Delta Air Lines and American Airlines are the first U.S.-based airlines to do so and join several international carriers that have stopped flying to China as the coronavirus outbreak continues to spread.
Developer plans 384-unit apartment complex as part of 137-acre south-side project
Locally-based Sheehan Development is seeking approval to rezone land on the northwest corner of South Arlington Avenue and East County Line Road—directly east of Interstate 65—for a project with multifamily, commercial and light industrial uses.
VW plots U.S. truck expansion with $2.9 billion Navistar offer
Volkswagen has offered to buy the rest of Navistar International Corp. to secure a bridgehead in the U.S. heavy-truck market and step up its challenge to Daimler and Volvo.
Amazon’s latest milestone: 150 million Prime members
The staggering number of Prime members is sure to spook other retailers. Analysts have said Prime subscribers typically spend more of their money at Amazon than other places.
U.S. worker compensation growth slowed a bit in 2019
Americans’ pay and benefits rose at a solid pace last year, but at a slightly slower rate than in 2018, the Labor Department said Friday.