The IBJ Podcast

The NCAA has 850 million reasons to love its deal with CBS and Turner Sports

CBS and Turner Sports will pay the not-for-profit NCAA some $850 million this year for the right to broadcast, stream and otherwise present the Men's Basketball Tournament. That will equal about 70% of the organization's revenue for the year.

IBJ columnist and investigative reporter Greg Andrews explains why the rights to March Madness is so valuable even as the media landscape changes quickly. And he tells host Mason King why it's unlikely that the NCAA or its broadcast partners will want to renegotiate the deal—which runs through 2032.

You could read more details about the NCAA's contract and see a breakdown of the value of the contract by year in Andrews' story in this week's IBJ. 

Three women explain how the pandemic impacted their jobs and their lives

One year after the pandemic hit Indiana, three women talk about how it has affected their jobs and how that has affected their psyches. 

Kelly Tingle, who kept her job in internal communications at Cummins Inc. but had to adjust to working at home; Lisette Woloszyk, who lost her job at the J.W. Marriott but has since found a new one; and Andrea Haydon, who has started her own design firm after being laid off from Ratio Design, talk with host Mason King about their anxieties, their fears and their hope about the future.

The women were among 11 central Indiana residents IBJ profiled in last week's issue. You can see all the profiles here.

From left to right: Andrea Haydon; Kelly Tingle and her daughter, Elena; and Lisette Woloszyk

Restaurants rejoice in looser limits for March Madness

After a long year crushed by the pandemic, restaurants—especially those located downtown—are reveling in a series of announcements that could help push their recoveries forward.

First, the NCAA announced it would stage its entire March Madness men's basketball tournament in central Indiana. Then, the Indy-based organization said it would allow a limited number of fans to attend. And finally, the Marion County Health Department increased the capacity limits for bars and restaurants.

So host Mason King talked with Mike Cranfill, co-owner of The District Tap, and Mike Cunningham, owner of Cunningham Group, which owns 35 restaurants with plans to open several more soon, about what the NCAA tournament will mean for them.

Plus, the restaurateurs catch us up on how they've fared throughout the past year.

You can read more about the projected impact of the NCAA tournament on restaurants in a story by IBJ reporter Susan Orr. Plus, check out all of IBJ's NCAA tournament coverage at The Rebound.

What happens to downtown if workers stay remote?

When Salesforce announced that, even after the pandemic, it planned to let many employees work from home most of the time, a ripple of dread spread across downtown. After all, some 2,000 Salesforce employees worked downtown before COVID struck, patronizing restaurants and retailers.

Other companies have indicated that they, too, plan to reevaluate how many people need to work in an office, and therefore, how much office space they actually need.

It's too soon to know for sure how many downtown workers might not be back. But to try to get a handle on the possibilities, host Mason King talks with IBJ real estate reporter Mickey Shuey about what he's hearing on the street.

Plus, Mason talks with Adam Broderick, managing broker for the Indianapolis office of Chicago-based JLL, about how the market is shifting as well as restauranteur Ed Rudisell about what that could mean for businesses that depend on downtown workers.

You can read more in Shuey's story at IBJ.com.

Why business execs are pushing back against legislative interference in Indy

More than 60 business and not-for-profit executives have signed a letter telling lawmakers to back off proposals that would restrict or usurp power from city government in Indianapolis.

Leaders from Eli Lilly and Co., Elanco Animal Health, Roche Diagnostics, Anthem Inc., Salesforce and Cummins Inc. are among those who endorsed the message that city government should be allowed to make decisions affecting the city. 

The letter was a reaction to separate bills that would strip the mayor of authority to oversee the police department, ban the city from regulating landlord/tenant relations, withhold tax revenue from the IndyGo bus system and more. 

Host Mason King talks with Indy Chamber CEO Michael Huber and Jobvite CEO Aman Brar about why each signed the letter and what they want to see the General Assembly do now.

Click here to see the letter. You can also learn more from this story by IBJ reporter Lindsey Erdody.

Spiffing up downtown Indy before March Madness comes to town

The city and several community organizations are launching clean-up efforts, street upgrades and art projects to beautify downtown and nearby areas in advance of the NCAA tournament in March.

Similar beautification efforts have accompanied other big events, including the Super Bowl and past NCAA Final Fours, but this year is different. Downtown still shows signs of the violence that spilled over from racial protests last May and the pandemic has left more storefronts and restaurant spaces empty.

So host Mason King talks with Downtown Indy Inc.'s Bob Schultz, Keep Indianapolis Beautiful's Jeremy Kranowitz and the Arts Council of Indianapolis' Julie Goodman about the projects and cleanups they have planned.

To learn more, read IBJ reporter Mickey Shuey's story about beautifying downtown and then read about the grant the Lilly Endowment is making fuel the efforts.

Turner Woodard talks saving the Stutz—and then selling the majority share

Twenty-eight years ago, developer Turner Woodard bought the historic Stutz factory complex, which was built in 1911-1912 by Harry Stutz, who founded the Stutz Motorcar Co.

The 400,000-square-foot factory at 10^th Street and Capitol Avenue produced cars until 1935, when the Great Depression forced the company to close. Eli Lilly and Co. then used the site for manufacturing.

When Woodard got his hands on it, the complex had been vacant for a decade—but he had a vision to bring it back to life, create a place for companies seeking a creative space and celebrate its auto industry history. And over the years, that vision has made the Stutz a home to artist studios, tech startups and even small manufacturers. 

Last week, Woodard announced he had sold majority interest in the complex to real estate investment firm SomeraRoad Inc., although Woodard and his son have retained a minority interest. 

Woodard talked to host Mason King about his adventure restoring the Stutz, about his decision to sell a majority share and what the new owners have in store for the building.

You can also read more about the sale in this story from IBJ's Susan Orr.

Should you talk to your adult kids about their inheritance?

In this week's podcast, Peter "Pete the Planner" Dunn says parents aren't doing their adult kids any favors when they share details about their net worth or finances. In fact, doing so can cause far more problems than it solves.

Dunn explores these problems with podcast host Mason King and gives some advice about what money issues are appropriate to talk about with your adult kids. Hint: Stay away from the dollar signs!

You can read Dunn's column about the issue—and all of his other IBJ columns—by clicking here.

Indy startup CarSnoop aims to change the way you buy your next car

After decades working in car sales, Cole Keesling knows what buyers want and how dealerships work.

So he created a website an app called CarSnoop that helps connect buyers and sellers in a way that helps both.

Keesling talks with host Mason King about how he developed the idea, what it took to go from concept to product and the marketing push CarSnoop has underway.

Want to learn more? Read IBJ reporter Anthony Schoettle's story about CarSnoop at IBJ.com.

 

What must Indy do to be ready to host all of March Madness?

The NCAA made it official last week: Indianapolis will host the entire March Madness men's basketball tournament this spring.

That's every team. Every game. With the goal of creating a coronavirus-free zone for players, team staffs, officials and a few hundred family members who will be allowed to attend each game.

The logistics needed to pull this off are incredible. But Indianapolis officials tell IBJ reporter Mickey Shuey they are up to the task. So podcast host Mason King talks with Shuey about what he's learned and what's left to figure out.

To learn more, check out Mickey's story about the city's plans for the tournament here.