The IBJ Podcast

Pete the Planner explains what's scaring him about the economy right now

It's been nearly four months since host Mason King sat down with Peter "Pete the Planner" Dunn to talk about personal finance. In fact, their last get together took place in person—and it was March 12, what some are now calling Black Thursday 2020, the day Wall Street suffered its largest single-day percentage drop since 1987.

Pete talks about what he got right and wrong about the economy, jobs and the stock market the last time he and King talked. And Pete explains what is scaring him the most about the economy right now.

Plus, he offers advice for people who are in financial trouble right now because of the pandemic, those who are at risk of trouble and those who are likely to escape relatively unscathed, if not in a better position than when the pandemic started.

You can read more in Dunn's "Pete the Planner" columns for IBJ.

 

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

 

Advice for hiring and nurturing a diverse workforce

Angela Freeman is an attorney at Barnes & Thornburg, formerly a molecular biologist at Eli Lilly and Co., and is finishing up a six-year stint on the board of the not-for-profit Women & Hi Tech, the last year as president. And in those roles, she's served on a number of search and hiring committees, which have often been charged with hiring diverse candidates.

Freeman talks with podcast host Mason King about the biases that exist in hiring and promoting and explains some of the mistakes that companies make when they seek to diversify their workforce. Here's one: If a company doesn't have a diversity statement, a diversity committee or a diversity officer, "that is a big red flag" to minority candidates. And it's not good enough to have the only person of color on an executive team be that diversity officer.

Among her many suggestions, Freeman recommends using a diverse committee for hiring (rather than leaving the job to one individual) and then assigning new employees, especially minority hires, to mentors who are invested in their success.

You can learn more about Freeman in this profile by IBJ reporter Anthony Schoettle.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

 

Indy Black Chamber of Commerce wants city support

The city of Indianapolis and Indy Chamber are close partners. Not only does Indy Chamber's Develop Indy division have a $1 million contract to handle the city's economic development efforts, the city has also given it millions of dollars for grants and loans to help companies deal with the pandemic.

The Indy Black Chamber of Commerce, which launched in 2015, wants a piece of that action.

Host Mason King with the Black Chamber's Larry Williams about why he thinks the city should be working more with his organization—and providing it funding. And Mason also talks with Angela Smith Jones, the deputy mayor of economic development, about the reasons the city is working with Indy Chamber.

Read more about the issue in reporter Samm Quinn's story in this week's IBJ.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

Will the Indy 500 run with fans in the stands? IMS officials say yes.

Indianapolis Motor Speedway officials are putting all their energy into running the Indy 500 with fans in August, despite continuing concerns about big crowds and the coronavirus.

In fact, just weeks after IMS announced that NASCAR's Brickyard 400 would run in front of empty stands, the track's new owner—Roger Penske—said the Indy 500 would not run if fans couldn't be there.

So we talked with IBJ reporter Anthony Schoettle about the Indy 500 and his conversation with IMS President Doug Boles about the track's plans.

You can read Anthony's Q&A with Boles by clicking here. And see our story about Penske's comments about the race and fans.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

Should the city help pay for damage done to businesses downtown?

Protests focused on racial inequality and police treatment of African Americans boiled over on May 29-30 into violence and vandalism that left businesses across downtown damaged and looted.

Eric Wells, president of the Stadium Village Business Association, says the city failed to adequately protect businesses and has not communicated a plan or a vision for bringing the city's core back after the one-two punch of coronavirus and the riots. 

She talks with podcast host Mason King about ways the city could step up to help businesses not just survive but thrive again. 

Then Mason talks with Mayor Joe Hogsett's chief of staff, Thomas Cook, about the city's reaction, whether it acted quickly enough to quell the violence and how the administration plans to move forward from here.

You can read about the actions the Stadium Village Business Association is requesting here. Wells is also one of four columnists featured in IBJ talking about the protests and the damage.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

Quiet not-for-profit powers big innovations in energy, transportation

Those familiar with Indianapolis-based Energy Systems Network say it’s one of the most innovative organizations in energy and transportation—not only in the state, but in the nation. But it’s not particularly well-known. Its officials prefer to work in the background while pushing forward initiatives like IndyGo’s bus rapid transit program, the Blue Indy electric car-sharing program, and an early initiative that helps some of the state’s biggest manufacturers make big moves in heavy-duty hybrid industry, including buses and trucks.

Over 11 years, the small not-for-profit has generated about $750 million in direct investments in ESN-related projects from public, private and philanthropic sources. In the latest edition of The IBJ Podcast, host Mason King speaks with CEO Paul Mitchell about how ESN has helped power so many high-profile initiatives. Not every project has been a winner. Blue Indy folded earlier this year, although Mitchell says it still could pay dividends for the city. And he details one of ESN’s flashiest projects: the Indy Autonomous Challenge, an IndyCar-style race with cars completely controlled by computers scheduled to take place next year.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

"When can we be with Grandma and Grandpa?" and other COVID questions families are asking

Conversations around the family dinner table during the coronavirus crisis have taken on incredibly high stakes. Deciding whether or not the kids can see Grandma and Grandpa over the weekend now requires research into the latest physical distancing guidelines and any chronic conditions they might have. Deciding whether or not to play baseball, basketball or soccer in youth summer leagues requires a serious calculation of the risks and rewards, as well as a working knowledge of all of the precautions that coaches and venues will take. Some families are agonizing over whether to let their young children go back to day care. Some already are weighing what to do when—or if—schools open in the fall.

For this week’s edition of The IBJ Podcast, host Mason King asked local families to share the questions they’ve been wrestling with—and added a few of his own. The topics above are all covered, as well as best practices for wearing masks, eating at restaurants and taking safe vacations. Our experts this week are Heidi Hancher-Rauch, who is an associate professor and director of the public health program at the University of Indianapolis, and Kara Cecil, an assistant professor of public health at University of Indianapolis. Both have families with kids and are willing to share the thought processes that have led to their decisions on these vital questions

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

Holcomb campaign faces peril of managing COVID crisis in public spotlight

Indiana Gov. Eric Holcomb has put himself in the public spotlight—or, if you will, the crosshairs of public opinion—nearly every weekday for the last two months, hosting press conferences about the state’s response to the coronavirus crisis. It is not an easy job, as the governor and his staff must address new fatalities, respond to questions that have no easy answer, and ask residents to make difficult sacrifices to beat an enemy we don’t totally understand.

This also happens to be an election year. On one hand, Holcomb has the opportunity to show voters how he can handle a dire crisis—and without having to spend a dime from his immense campaign war chest. On the other hand, if he makes an obvious mistake or miscalculates how quickly the state should reopen, it’ll be in front of millions of voters with a deep, vested interest in the outcome.

In this week’s edition of The IBJ Podcast, host Mason King examines the political risks and potential rewards of managing the state’s response to COVID-19 in real time and in the public eye nearly every day. His guests are reporter Lindsey Erdody, who has written about this topic in the latest issue of IBJ, and Robert Dion, associate political science professor at the University of Evansville.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

Wedding season walloped by COVID leads to postponements, tears, pizza parties

Hundreds of thousands of couple who for months have been picking preachers, flowers, venues, bridesmaid dresses, reception menus and deejay playlists now find themselves making a no-win decision: Do we keep the dates for our spring 2020 wedding and scale it way down, or do we reschedule the whole shebang and hope we’re not in the middle of another wave of infections?

The coronavirus crisis and its social-distancing protocols have wreaked havoc on the multibillion-dollar wedding industry—not to mention the lives of an untold number of couples who thought they’d be betrothed by fall. In this week’s edition of The IBJ Podcast, host Mason King explores the tumult from the perspective of two Indianapolis women: a bride who decided to keep her wedding date—May 2—and scale the festivities way down (including an after-party with pizza); and a wedding planner who had 23 weddings on the books for this year but now spends much of her time working on Plan Bs and Plan Cs for clients.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.

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Felix Mendelssohn's "Wedding March," from "A Midsummer's Night Dream," arranged for drunk organist (or sober organist pretending to be drunk) by Jonathan Mui.

The rent is due, and tenants are struggling as unemployment soars

As the economy swan-dives into a deep recession due to the coronavirus crisis, many of the people who live in apartments or rented homes find themselves in a frightening bind. Unemployment has surged in the working-class sectors, making it difficult for tens of thousands of tenants in Indiana to make their monthly rent payments. According to industry estimates, about 8% to 10% of renters were delinquent on their April rents, both in Indiana and nationwide.

Tenants in Indiana have been shielded from eviction since mid-March thanks to a moratorium issued by Gov. Eric Holcomb. But that doesn’t make their past-due rents go away. Advocates for both low-income residents and for landlords say more must be done to aid renters. Both sides are working their political connections to establish an emergency rental assistance program, that would help tenants cover the rent and keep revenue flowing for apartment owners.

For this week’s edition of The IBJ Podcast, host Mason King interviews Lynne Peterson, president of the Indiana Apartment Association, and Andrew Bradley, policy director for Prosperity Indiana, about the need for assistance and the fix that both tenants and landlords find themselves in.

The IBJ Podcast is brought to you by the law firm Krieg DeVault.