The IBJ Podcast

What will restaurants, offices look like when economy reopens?

Last week, Indiana Gov. Eric Holcomb told businesses they needed to start planning to reopen, although he didn’t set a particular date—or, what’s probably more likely, a schedule of how restrictions gradually would loosen. That process could start as soon as early May.

So, what do companies and restaurant think reopening will look like in a world still very wary of the coronavirus pandemic? How do they envision minimizing the risks for their employees and customers? Should restaurants still allow patrons to wait in lobbies? Should they be required to wear masks? How many people should be allowed in an elevator at once? Or in the office bathroom? Will 6-foot-tall cubicles make a comeback?

For this week’s edition of The IBJ Podcast, host Mason King and reporters Anthony Schoettle and Mickey Shuey focus on two of the biggest workplace sectors: offices and restaurants. There’s precious little consensus about the necessary precautions, although most decision-makers agree that we won’t get back to anything resembling “normal” until there’s a vaccine. And that could take a year or more.

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

How buying and selling homes have changed in the COVID era

Home sales in central Indiana have tumbled since the coronavirus crisis told hold in March. Home showings have cratered. The number of owners deciding to list their homes for sale has slumped well below average. That said, people are still buying and selling homes in central Indiana, even as public officials ask us to severely limit personal contact and any non-essential travel outside the home.

How are homes still moving? Good real estate agents are nothing if not entrepreneurial, and they’ve created some clever workarounds. What used to be a face-to-face, high-touch business has gone digital. Some owners are taking a more active role in marketing. Some closings now have more in common with the drive-through window at Portillo’s than a suit-and-tie office meeting.  

To help explain these abrupt strategic maneuvers and what it will take to get the market back on track, IBJ Podcast host Mason King interviewed two of the best-connected people in the local real estate market: Shelley Specchio, CEO of MIBOR, and Jim Litten, president of F.C. Tucker Co. Inc.

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

The pressures of working and parenting at home in a pandemic

Mason King, the host of The IBJ Podcast, focuses this week on the pressures and challenges of trying to fulfill your obligations as an employee, spouse and parent during the "new normal" of sequestration, in an environment where those responsibilities easily collide.

These dramas are playing out in a thousand different ways, so King invited local families to pose questions for his podcast interview with human resources expert Liz Malatestinic. One of the most common: “Is it reasonable for employers to expect their workers to put in eight- or 10 hours of work every day and be responsive within minutes under these circumstances?” The obvious follow-up: “What if my boss doesn’t care?”

The families also shared some of the strategies they’ve employed to stay organized and ahead of potential meltdowns—either from children or the parents.

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

What you need to know about unemployment now

Just a few weeks ago, Indiana's new jobless claims numbered just a few thousand a week. Then the coronavirus shuttered the economy and Gov. Eric Holcomb ordered non-essential businesses to close. The result: The last week in March saw 146,243 new unemployment claims.

The surge has flooded the state's computer system and its call center, and the Department of Workforce Department is quickly hiring and training new staff to handle the workload and get unemployed Hoosiers answers and benefits as quickly as possible.

But the situation is complicated by the CARES Act, a law passed by Congress that expands who is eligible for payments and dramatically increases the amount workers can receive, moves that require the Department of Workforce Development to reprogram its software and retrain staff.

The DWD's chief of staff, Josh Richardson, talks with host Mason King about who is now eligible, how soon they'll begin receiving benefits and how the agency is adjusting to the flood of applicants.

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

Sahm's—one restaurant group's story about the effect of the coronavirus

Ed Sahm and his son, Eddie Sahm, started planning for the shutdown of the restaurant industry weeks before the coronavirus outbreak led city and state officials to order the closures.

And so they were a little more ready than most owners to refocus Sahm's 16 restaurants. The result is an operation to benefit the not-for-profit Second Helpings, offer takeout at some locations, and open a series of marketplaces, where customers can get grocery items, including produce, cleaning products and, yes, toilet paper.

Still, the effort is not profitable. It's just enough to put some of Sahm's employees back to work, help the community and keep the company afloat for a few more weeks.

Host Mason King talks with Eddie Sahm about how he and his dad made key decisions and how they're making it work.

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

How can companies survive the economic calamity of COVID-19?

The economy is at a standstill thanks to closures caused by fear about the spread of COVID-19. But it will likely come roaring back once the nation gets the coronavirus outbreak under control, says Phil Powell, the associate dean of academics programs at the IU Kelley School of Business in Indianapolis.

Powell talks to podcast host Mason King about how companies should approach what he believes will be a deep but short recession and steps they should take now to shore up their financial situation.

"It's your job to survive and to make sure that when these social controls are lifted and everybody starts to come back out that you're ready for business," Powell said.

Click here to read IBJ stories about the effect of the coronavirus outbreak in central Indiana.

 

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

 

 

Pete the Planner talks about the virus, the impact on the economy and what to think about your portfolio

IBJ's personal finance columnist Peter Dunn is more worried about what the global pandemic will do to the economy than he is about what it will do (or has done) to the stock market.

And he's most concerned about that economic impact on individuals and families—especially those who are vulnerable to layoffs. And so he talks with podcast host Mason King about what people can do to prepare for what he believes will soon be a recession. The goal, he said, is to "get lean."

He also talks about the power of fear, why you shouldn't try to time the market, and why the stock market crash does, in fact, hurt those who are either about to retire or are newly retired. 

Click here to read Pete's latest column for IBJ and see all of his columns here.

 

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

 

These downtown hotel projects appear stalled

Nineteen hotel projects have been announced for downtown. If every one of them opens, they would add 4,203 more rooms to the central district of Indianapolis—an increase of more than 50%.

But experts say it's unlikely all of those hotels will be built and opened. And in fact, three appear at least temporarily stalled.

Host Mason King talks with IBJ real estate reporter Mickey Shuey about which projects may be on the ropes and which ones appear most likely to make it.

And King interviews Drew Dimond, president of Indianapolis-based Dimond Hotel Consulting Group, about the hotel market and what determines whether a project comes to fruition. And Dimond explains what he sees as a weakness in the Indy market.

Read Shuey's story in this week's IBJ for more about the downtown hotel projects. 

(IBJ photo/Eric Learned)

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

 

Jon Laramore traded a prestigious law firm job for a gig helping low-income Hoosiers

Jon Laramore served as chief counsel for two governors and spent 10 years at what was then Faegre Baker Daniels.

But he left in 2015 to become executive director at Indiana Legal Services, the state's largest, independent low-income law clinic, where he's expanded the number of people served as well as the organization's staff.

He talks with host Mason King about the legal needs of people in poverty, those who have been released from prison and clients facing health challenges.

And King questions Laramore about his experiences arguing—and winning—two cases at the U.S. Supreme Court.

You can read more about Laramore in John Russell's Q&A at IBJ.com.

(IBJ photo/Eric Learned)

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

 

Indy readies for 2021 All-Star Game—to be love letter to basketball

IBJ's Mickey Shuey headed to Chicago for the 2020 NBA All-Star Game to see how the Windy City hosted what has become one of sports' biggest weekends.

He wasn't alone, of course. Indy's All-Star Game host committee sent a big contingent to Chicago as well, to make sure they're as ready as possible to host some 100,000 fans when the game lands at Bankers Life Fieldhouse next year.

Shuey details what he and Indy officials learned in Chicago and explains how the local host committee plans to make the 2021 game special. One goal is to focus on Indiana's basketball heritage and celebrate the game—creating a sort of love letter to the sport, Shuey says.

To learn more, read Shuey's story about Indy's planning for the 2021 game.

The music in this podcast is "2 Hearts" and is compliments of Patrick Patrikios, who has made it available through a Creative Commons license on YouTube.

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