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BEHIND THE NEWS: Former Carmel exec goes from fast lane to jail cell

Just a few years ago, Carmel businessman Edward Okun was living the high life. By last year, his personal holdings had grown to include four mansions, a helicopter, three airplanes, 20 automobiles, and a 130-foot yacht. Today, Okun is in a Virginia jail, is represented by a public defender, and faces the prospect of spending the rest of his life behind bars. And, angry investors say, rightfully so. They charge-and government investigators agree-that Okun financed his lavish lifestyle by misappropriating…

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Independent coffee shops feeling perkier than Starbucks

At a time when Starbucks is closing hundreds of stores nationwide, he and other local independent coffeehouse owners say they’re doing just fine, largely because they’re infusing their stores with personality and offering consumers an experience chain stores can’t replicate.

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BW3, Madame Walker & Adobo

Wow, what a busy day. First off: No luck so far snagging a rendering of the new Buffalo Wild Wings under construction along Washington Street…

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Suit challenges Pan Am move

A local attorney filed a lawsuit today challenging a city maneuver that cleared the way for private redevelopment of Pan Am Plaza. The suit, available

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10 local Starbucks will be among 600 nationwide closings

At least 10 local Starbucks stores are slated to close by early next year as part of a 600-store nationwide purge. The chain
has named only 50 of the stores it plans to close, including two in Indiana, but it has notified the others. Those include
at least six in Indianapolis and stores in Carmel, Greenwood and Beech Grove.

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Kempton is red-hot

Ever heard of Kempton? Itâ??s a burg between Indianapolis and Kokomo that just happens to be the second-fastest
growing town in the state.

Kemptonâ??s population last year was 716, an increase of 27 percent in just one year, according to an…

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Ex-franchisees sue Noble Roman’s

Nine former Noble Roman’s franchisees and a current operator have filed a lawsuit charging that the Indianapolis chain lied
to them about the costs and risks of opening one of its pizza and sub restaurants. The franchisees say the 1,000-restaurant
chain aggressively marketed its stand-alone, dual-brand Noble Roman’s and Tuscano’s Italian Style Subs restaurants without
testing the concept–a scheme they contend was designed to inflate the company’s stock price so owners could unload shares
at a profit.

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Ralston Square development lures bar, hotel, bowling alley

A trendy bar and an upscale hotel have agreed to anchor the 11-story Ralston Square project slated for South Street between
Meridian and Pennsylvania streets. The developers of the $60 million mixed-use project are moving forward after landing the
tenants necessary to secure a loan commitment, said Brian Epstein, president of locally based Urban Space Commercial Properties
and a partner on the project.

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Lender claims M&I Plaza when it fails to sell at auction

A Maryland company has taken ownership of downtown’s 28-story M&I Plaza just three months before a major tenant departure
leaves the skyscraper 70-percent vacant. The new owner is CapitalSource Inc., a commercial finance and investment firm based
in Chevy Chase, Md. It had been a lender to the former owner, which defaulted.

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Group plots public-private revival for midtown Meridian neighborhoods

There was a time when residents of Meridian Kessler, Butler Tarkington, and Broad Ripple viewed North Meridian Street as a
connection between their neighborhoods. These days, the road feels more like a divide-an intimidating commuter highway between
downtown and the northern suburbs that discourages pedestrian and bicycle traffic. A partnership of community groups including
the Meridian Street Foundation is hoping to change that by giving the neighborhoods a collective identity–Midtown–and mixing
private and public money to fund major infrastructure improvements.

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Ailing Steak n Shake rehires ad agency, but will pact stick?

Local advertising powerhouse Young & Laramore signed a new contract with Steak n Shake, one of its flagship clients, just
two weeks ago, but ad industry observers can’t help but wonder if the 18-year-old relationship is about to run its course.
Before the ink on the contract was dry, the struggling hamburger chain had a new board chairman who is likely to shuffle Steak
n Shake’s executive suite and take the company in a new direction.

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Infill coming to Fletcher Place

A local firm plans to break ground soon on two new infill buildings in Fletcher Place. The $1.7-million development, called Fletcher Place Terrace, will be built on…

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Car enthusiasts saving The Suds

A group of car collectors has bought an iconic Greenwood drive-in called The Suds and plans to reopen the landmark on Saturdays starting July 5. The Suds Hot Rod…

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Neighbors appeal CVS approval

The Old Northside Neighborhood Association is fighting an administrative approval of plans to build a CVS pharmacy at the southeast corner of 16th and Meridian streets. The Metropolitan Development…

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HHGregg tuned into growth

Undeterred by a rocky economy, locally based electronics retailer HHGregg is trailblazing into new markets on a quest to quadruple
in size. The firm’s “price and advice” mantra seems to be catching on. That’s no surprise to Jerry Throgmartin, a 33-year
veteran of Gregg who has served as the company’s chairman and CEO since 2003.

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Renaissance Bay & SpongeBob

A huge condo project along Keystone Avenue at 78th Street is coming out of the ground fast, and the developers now are offering tours to potential buyers. The $150-million…

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