The IBJ Podcast with Mason King

This week’s episode features a guest folks in central Indiana know so well – at least in one context – that she requires little introduction. Kristi Lee has been a core cast member of “The Bob & Tom Show” for nearly 40 years and is heard daily on close to 100 radio stations nationwide that carry the Indianapolis-based show. Her role is deceptively simple: reading news stories, cracking some jokes, chatting with guests and generally trying to maintain some sense of decorum. She left the show briefly in 2016 to expand her horizons after original co-host Bob Kevoian retired, but she returned after about seven months.

She’s an open book when on the air but there’s only so much time for biographical details when you’re competing for the microphone with a pack of comedians. For this week’s episode of the IBJ podcast, host Mason King asked Lee to fill in the blanks and discuss the elements of her life and broadcasting career that don’t often get discussed. She covers growing up on the west side of Indianapolis as a child of divorce, the career path she almost followed into aviation, and her days as a teenage wunderkind in Indianapolis radio. She also discusses what it’s like to essentially grow up in a frat house, her role in throwing one of the city’s biggest parties, her high-level work for nonprofits, her sibling-like relationship with the late Kevoian, her post-retirement goals and how she wants to be remembered.

The southeast side of Indianapolis has been home to seven generations of the Waterman family, which has farmed parcels in the area for much of that time. About 50 years ago, Bruce and Carol Waterman took a big step toward a new, public-facing endeavor called Waterman’s Family Farm. Those seeds planted on 50 acres at 7010 E. Raymond St. soon brought folks from across central Indiana for you-pick produce — including strawberries, tomatoes and corn — and its five-week Fall Festival for autumn enthusiasts and families who love playgrounds, corn mazes and amusement rides. This year’s festival with several added attractions is its biggest yet.

Waterman’s Family Farm was founded in 1978. Bruce and Carol’s children and grandchildren are now intimately involved in running the attraction. Bruce, who had a passion for farming the family land, passed away several years ago. An outside party now handles farming responsibilities, and Bruce’s descendants are leaning even more heavily on the agritourism side of the Waterman legacy to make their living.

Scott Waterman, co-owner of Waterman’s Family Farm, and his daughter, Taylor Waterman, are the guests this week on the IBJ Podcast to discuss the growth of the festival, which attracted about 15,000 ticketed attendees last year and already has surpassed that total this year. They also discuss the challenges of running a seasonal business and their devotion to promoting agriculture in Indianapolis even as most of the farms in the area have long since been supplanted by housing and highways.

In 2020, Bloomington-based device maker Cook Medical and several Indianapolis-based nonprofits announced plans to build a $15 million manufacturing facility on Indy’s near-eastside. The goal was to create about 100 jobs for residents of the high-poverty neighborhood. Those 100 employees then would receive key services from Goodwill of Central & Southern Indiana to ensure the workers and their families have the food, housing and education they need to succeed. Goodwill Commercial Services would run the plant, which would make medical devices for Cook. And to ensure employees and other area residents had access to healthy food, Cook also planned to develop a grocery store next door named Indy Fresh Market, employing another 40 people.

Cook Medical President Pete Yonkman returns to the IBJ Podcast this week to deliver an update on the facilities and how well Cook and its partners have been able to deliver on their goals. In particular, he discusses the grocery’s struggle to reach the break-even point, the process for addressing crime in the neighborhood and whether this blueprint for community investment has caught on elsewhere.

Fishers-based Round Room LCC is the sixth-largest private company in Indiana. You’re forgiven for not knowing the name, although the brand it represents is one of the most recognizable in the United States and provides goods and services to more than 100 million people. And Round Room is in the midst of a major growth spurt that could put it higher on the list of Indiana private companies, although it’s unlikely to change from what owner and CEO Scott Moorehead calls “the best company that nobody knows about in the state.”

The easiest way to explain Round Room is to say that it is one of the nation’s largest independent wireless retailers with exclusive agreements with Verizon. It currently owns or has franchised about 1,550 stores in about 45 states. The sign on the outside will say Verizon, and the interior will look like any other Verizon store, but there’s decent chance just about anywhere in the country that you’re walking in a Round Room store. And the numbers are growing fast: Round Room counted about 1,300 stores at the beginning of this year, and Moorehead projects the number will be somewhere in the 1,600 to 1,650 range by the end of the year with annual revenue close to $3 billion. Round Room’s employee count is just under 3,000 people, including about 500 added just this year.

Moorehead returns to the IBJ Podcast this week to discuss what’s driving the growth spurt. He also explains why selling phones and wireless service is a recession-resistant business. As Moorehead explains, artificial intelligence is now an important part of the business. And he goes into some detail describing Round Room’s evolving relationship with Verizon, currently the 28th largest member of the Fortune 500.

Adam Weber and Andrew Clark seem to be cut from similar cloth. Before working in the technology sector, they both earned degrees in the liberal arts at Ball State University. The eventually worked together at tech firm BlueBridge Digital, which was co-founded by Weber. Clark joined Weber again at the firm Emplify, which was an evolved version of BlueBridge and was acquired in 2021 for $50 million. Weber and Clark knew they enjoyed working with each other and kept their eyes peeled for the right idea.

They founded it in February and made the decision to team up over dinner. Named Helm, the company evaluates executive teams to find points of friction that can slow growth. Helm then helps the CEO improve group dynamics and accelerate performance. Weber and Clark work closely together, in part because new artificial intelligence tools can handle responsibilities that would have required as many as 20 full-time employees just five years ago. The tools also have helped eliminate major startup costs. In fact, Weber and Clark have no plans for the foreseeable future to hire a third person or to seek investor capital. They’re a two-man band.

In this week’s edition of the podcast, Weber and Clark discuss the ways creating a startup has changed in the age of AI and why they enjoy working together. They also address the challenges of evaluating top executives and the five main signals they apply to client companies.

On Friday, IBJ reported that a coalition of Indianapolis business, civic and institutional leaders is developing an ambitious plan to reshape downtown’s west side, including a near-complete reworking of West Street and major changes to the street’s connections with Interstates 65 and 70. The concept calls for lowering sections of West Street, recessing portions of the interstates at the two gateways and building streets, pedestrian connections and public spaces above some of the roadways. Led by the Indy Chamber, the coalition is fleshing out its vision and soon could face the formidable task of getting buy-in from the state, the city, two major universities, some of Indy’s biggest employers and other property owners.

This might be a tough one to get your arms around, so this week’s podcast features two interviews with people who were close to the process of conceptualizing the so-called Downtown West Innovation District. IBJ Editor Lesley Weidenbener sat down with Matt Mindrum, the CEO of the Indy Chamber, to discuss the big picture, the potential economic benefit and the complex vision for financing the project. Then you’ll hear podcast host Mason King’s interview with Brenda Freije, president and CEO of the transit-focused nonprofit Rethink Coalition, about specific changes proposed for four sections of West Street.

Once upon a time, our relationship with consumer technology started and ended with how we could tell time. In the 1800s, your pocket watch or your wristwatch might have been the most complicated and vital piece of technology you owned, and folks passed them down over generations as signature artifacts of the original owners. Today, watches or the personal devices we use to tell time are unimaginable complex and versatile, compared to a century ago, but they’re surprisingly disposable. Their obsolescence is practically guaranteed within five years. No one is bragging about refurbishing and wearing their father’s iPhone as a cherished keepsake.

Adam Fleddermann approached the watch-making industry from two directions. He brought a deep respect for the role mechanical watches used to play in business and family life while leveraging his up-to-the-minute professional expertise in logistics. Over a few years he turned a hobby into a family business, designing his own watch models, sourcing parts from the global supply chain and arranging to have them assembled by artisans in Kokomo. His brand of watches inspired by German culture is known as Fleddermann Von Rieste, and one of the latest models is a limited-edition timepiece licensed by Purdue University using several of the school’s signature design elements. In this week’s edition of the IBJ Podcast, Fleddermann discusses the entrepreneurial origins of his Indianapolis-based company during the pandemic and his drive to create sophisticated timepieces that can survive to become multigenerational heirlooms. He also discusses finding the right entry point when nearly everyone owns a device that tells time and the high-end watch market is populated with several famous brands.

For its 10th movie, Bloomington-based Pigasus Pictures has mounted its biggest production yet, with a $10 million budget and a key role played by one of Hollywood’s biggest stars. Indiana has more than its fair share of inspirational sports movies, and Pigasus is diving deep into the genre with “Little Five,” the story of the first Women’s Little 500 bicycle race on Indiana University’s Bloomington campus. Pigasus is the lead production company, but it received a boost from co-producer Somewhere Pictures, founded by Oscar-winning actress Anne Hathaway.

Pigasus CEO Zachary Spicer returns to the IBJ Podcast this week to talk about one of the recent low points in his career that inspired him to develop a movie about the first Women’s Little 500. He discusses the evolution of the concept, raising the $10 million and his longtime connection with Hathway that led to her company’s participation. He also reminisces about filming in Bloomington, where he attended IU, and how the football team’s national championship helped the production team. Plus, we get the lowdown on the Pigasus project “Trash Mountain,” that debuted last Friday at the Toronto International Film Festival.

The financial media’s laser pointer is often so jittery that it’s tough to figure out which developments are most important to your financial life. The topic that received the most focus last week was rising bond yields. As we’ll discuss in this week’s podcast, that issue could have serious legs, and its feet appear to be pointing downhill.

You might be surprised to know that the yield on a 10-year U.S. Treasury bond is considered by many to be the most important interest rate in the world. It plays a big role in determining your cost when you borrow money – from a mortgage to a car loan to a credit card. And news that yields are rising means that bonds are falling out of favor in the marketplace, indicating there’s considerable anxiety over the government’s ability to handle inflation, budget deficits and the war in Iran, among several concerns.

In this week’s edition of the IBJ Podcast, Peter Dunn, aka IBJ columnist Pete the Planner, joins us to help focus on the meaning behind rising bond yields. He also discusses the duality that many Americans face in the current financial system, in which some folks thrive and others fall behind. You’ve probably heard it referred to as the K-shaped economy.

IBJ celebrated philanthropy, nonprofit organizations and the businesses who support them at our second annual Nonprofit Excellence Awards event on Aug. 4 at the Indiana Roof Ballroom.

During the event, IBJ reporter Dave Lindquist interviewed Taggart Birge, the 2025 winner of the Philanthropist of the Year Award. Tag, who is a real estate investor, and his wife annually support scholarships, education programs and public art, among other efforts.

For this week’s IBJ Podcast, we bring you that conversation.

Dave talks in detail with Tag about how he and his wife have settled on their philanthropic strategy and the personal connections that led them to focus particularly on helping disadvantaged students. And you’ll hear Tag answer questions submitted by those in the room at the event.

You can find a full video of the 2026 Nonprofit Excellence Awards event here.

For all of the people who have said at some point in their lives, “Wouldn’t it be fun to open a small bookstore,” consider the story of Julia Breakey and Jake Budler, a married couple who opened Tomorrow Bookstore on Mass Ave in 2023. They hurdled all of the concerns that likely dissuade most folks from following through. Questions like, “How do I get startup capital?” How do I compete with Amazon?” “Why try to sell printed books in an increasingly digital world?” And “How can I, a constitutionally introspective person, survive a career that requires intense customer service?”

The origin story of Tomorrow Books seems all the more unlikely given that Breakey and Budler hail from South Africa and are in their very early 30s. But they had a built-in advantage, in that Jake has a wealth of expertise related to startups as an employee of a global firm that supports high-growth entrepreneurs. In this week’s edition of the podcast, Julia and Jake explain how they chose to settle in Indianapolis and open their own business, how they divide the duties of running a bookstore, how they found the right mix of financing and why they have embraced the recent wave of new independent booksellers in Indianapolis instead of considering them competitors.

On July 27, public officials in West Lafayette joined local business leaders and executives from the Fort Wayne-based Parkview Health system to break ground on the site of a planned $200 million hospital and medical office building expected to create 250 health care jobs. The Lafayette/West Lafayette area already is served by two hospitals in the IU Health and Franciscan Health systems, but the leaders assembled said the area’s growth made clear the need for the new facility.

Meanwhile, Parkview has been working through an agreement with Lebanon-based Witham Health Services, which provides medical services to residents throughout Boone County, to join Parkview later this year. That would bring Witham’s hospital under Parkview’s purview, as well as several clinics across the area. Parkview is also building a freestanding emergency department and urgent care facility in Marion. And Parkview and Noblesville-based Riverview Health are nearly a year into a managed-services agreement aimed at getting the struggling county-owned hospital system’s finances in order.

Parkview started growing outside of the Fort Wayne area in 1995 and now counts more than a dozen hospitals, medical centers and health institutes across northern Indiana and northwest Ohio. And It’s looking to continue to expand. In this week’s podcast, Dr. Greg Johnson and John Bowen, two Parkview executives leading the system’s growth, discuss the push into central Indiana and what makes it attractive for expansion. They also cover how they determine demand for another market player, what they think differentiates Parkview from other systems, and how they plan to staff the West Lafayette hospital.

Here's an amazing second act in the career of an Indiana journalism luminary.

Longtime subscribers to the Lafayette Journal and Courier newspaper read the work of Dave Bangert over 32 years in his roles as a reporter, editor and columnist. He was so highly regarded that in early 2021 he became one of a handful of journalists to receive the Sagamore of the Wabash. That’s a statewide honor awarded by the governor for outstanding leadership, achievements and/or civic contributions. One could assume it was meant as a career capper. Bangert had taken a buyout from newspaper owner Gannett in late 2020, with vague plans to get a normal day job for several years until hitting typical retirement age.

That’s not what happened. Within a few months he received a few obvious signs that his news career might not be over. He soon started carving out a home for himself on the online Substack platform named Based in Lafayette, allowing him to create a news website and shoot stories to subscribers via email. He quickly became a one-man news bureau for Lafayette, West Lafayette and the rest of Tippecanoe County, making all the editorial decisions himself and leveraging sources he developed over three decades. He has nearly 10,000 subscribers between two basic tiers — some who receive a limited amount of content for free and others who pay a fee to see everything. (The latter options are $7 per month, $70 per year or $150 per year.) He works just as hard as he did for the Journal and Courier, but now it’s all on his own terms. In this week’s episode of the podcast, Bangert explains how he knew it was time to get back in the game, how he assembled the business plan, how he covers his turf as a one-man band and what he has learned about the news business from his view on Substack.

Josh Driver, CEO of Indianapolis-based Selflessly, jokes that he’s practically in a common law marriage with his AI assistant, named Phil. (That’s short for “philanthropy,” which is Selflessly’s focus.) They’re a good match: Phil handles much of the administrative drudgery and helps clients figure out their philanthropic strategies so Driver can stay focused on big-picture strategy and client relations. But they get into the occasional tiff, and Phil can overstep his bounds. In fact, he recently went way off script with a client.

Such an episode points up the risks in turning over so much responsibility to AI. But Driver sees Phil as an indispensable tool and interwove it into Selflessly’s recent from-the-ground-up platform rebuild. His interest in AI’s potential was piqued once he began using it to bypass some of the pitfalls of having attention-deficit/hyperactivity disorder. Recent episodes of the IBJ Podcast have focused on potential long-term risks of the widespread use of AI. In this week’s edition, we use Selflessly as a case study in how AI is being used by a small business right now. Driver also discusses his early career in emergency medicine — specifically, burn and wound care — and how that led him to technology and nonprofits.

Election Day is scheduled for Nov. 3, so we’re just a bit more than three months away. This is the midterms, so there’s a lot at stake at the federal and state levels, in additional to many referendums for local school districts. On July 16, President Trump delivered a 26-minute prime-time address about election security, warning us that our elections are vulnerable to fraud and need immediate attention. Among his claims, Trump said China was able to acquire 220 million U.S. voter files in 2020 and wants to exploit that data. He also said a Department of Homeland Security investigation found that 278,000 noncitizens are registered to vote in federal elections.

Regular listeners of the IBJ Podcast know we already had scheduled a return visit with Chetrice Romero, senior cybersecurity adviser for law firm Ice Miller, to talk specifically about election security, so the president’s address gave us even more grist for the mill. Romero has worked extensively with the state and federal government on election security and is currently consulting with state and county officials on November’s election. In this week’s edition of IBJ Podcast, she starts off by putting Trump’s comments in context and gauging the threat level of his claims. She then goes in great detail explaining the many steps that local and state officials are taking in Indiana to secure the election. And she weighs in on proposals to go back to an all-paper voting system.

This is prime parks season for folks in Indianapolis who want to hit splash pads, climb jungle gyms or just grab some grass in the shade. What they’re finding is dozens of parks with new or improved trails, sports fields, shelters, bathrooms, water features and playgrounds. The Indy Parks Department is nearing the finish of $150 million in upgrades to about a third of its 218 parks, using a huge infusion of funds outside of its typical $6 million annual budget for capital improvements.
Some of the projects are wholesale transformations, such as turning Riverside Golf Course into Riverside Adventure Park. Some are more modest but perform the essential service of providing safe and modern playgrounds for neighborhood kids. In this week’s edition of the IBJ Podcast, Indy Parks leaders Brittany Crone and Andre Denman discuss the funding and execution of this extraordinary wave of upgrades and how several of the biggest projects came about. They also tackle the question of what comes next, given the size of the annual capital improvements budget. And they discuss the likelihood of creating new parks in a city with some recreation gaps.

According to a report last month from the Social Security Administration, the trust fund that the government uses to help pay out benefits to retirees is expected to run out in late 2032. At that point, Social Security will only be able to pay 78% of your scheduled retirement benefits. This isn’t a surprise: We’ve known for many years it eventually would happen, but there hasn’t been enough political will in Washington, D.C., to rescue the system.

Late last year, President Trump began making references to the public retirement system used by Australia. On July 6, Trump made his most definitive declaration yet, saying his administration is looking at adopting the Australian system — or at least elements of the Australian system — and would try to get Congress onboard.

There is no magic wand in this scenario. Merging one system into another – or adding a giant appendage to the current system – wouldn’t be easy. As IBJ financial columnist Peter Dunn says in this week’s podcast, there could be significant tradeoffs. But who should take the biggest hit? In this week's discussion, Pete takes the point of view of employers and host Mason King has the perspective of someone who plans to retire soon. They also also hash out the viability of tweaking the current Social Security system to get the fund back on track.

Larry Smith grew up on the east side of Indianapolis. After graduating from Southport High School and then Williams College, he landed at Fortune 500 engine maker Cummins Inc. and quickly found himself on the fast track to upper management. By his early 30s he already was director of corporate strategy, but he felt a strong calling to a different path.

Smith switched gears and started a distinguished career in the Indy area’s nonprofit sector, holding leadership positions with such organizations as Lilly Family School of Philanthropy at Indiana University, YMCA of Greater Indianapolis, Indiana University’s Randall L. Tobias Center for Leadership Excellence and the Hamilton County Community Foundation. Then, in 2022, he received another calling – this one through actual phone calls and text messages – to take over as president and CEO of Fathers and Families Center, a modest Indianapolis nonprofit that provides counseling and other resources to help men become better fathers and stabilize their families. The mission harmonized with Smith’s lived experience, since he grew up without a father and himself became a father when he was 16.

On this week’s podcast, Smith lays out his plans to continue growing the capacity of the center with hopes of doubling the number of men served by its programs. To that end, it is in final stages of a $5.5 million fundraising campaign and preparing to move into a new headquarters near the Children’s Museum. Smith also explains his strategy for doubling revenue within five years or so, including a new focus on individual contributions.

Last week, an international alliance of intelligence agencies released a warning about the evolution of AI and how it soon will be able to overwhelm cyber protections used by governments and businesses. This will happen within a matter of months, according to the group, and companies should take an all-hands on deck approach to the threat. That means significant involvement from owners, top executives and other leaders.

To get a sense of the gravity of the warning, IBJ Podcast host Mason King invited cybersecurity expert Chetrice Romero to be the guest this week. Romero started her career in public relations but developed expertise in cybersecurity as a state and federal employee. Her positions have included cybersecurity program director for the Indiana Office of Technology and the Indiana Department of Homeland Security, and cybersecurity adviser and state coordinator for the federal Cybersecurity and Infrastructure Security Agency. She currently works for the law firm Ice Miller, helping clients prepare for cyber attacks and their aftermath. In this week’s podcast, Romero explains the risks involved in the looming AI-related threat and why the time to prepare is now. She also shares what she learned from her somber experience on the search and rescue task force responding to the Surfside condo building collapse in 2021.

In 2009, a freshly graduated Jason Flora opened a law firm in a tiny office on the west side of Indianapolis near Hispanic-run car lots, Honduran restaurants and Guatemalan grocery stores. In its early days, the firm was a one-man shop, with Flora, who speaks Spanish fluently, working 60 hours or more a week and often driving back and forth between Chicago’s immigration court and his office. Last month, Flora Legal Group ranked No. 3 on IBJ’s list of the region’s fastest-growing companies based on its two-year growth, which ballooned 250%. It now has 23 attorneys among its nearly 140 full-time employees, who handle thousands of cases per year. And yet the firm’s mission is essentially the same as it was in 2009: to protect the rights of immigrants and provide the legal services they need — particularly in immigration cases — to make their lives better and more prosperous.

In this week’s edition of the IBJ Podcast, Flora expounds on the evolution of his firm. As he explains it, one of the reasons he started his career as a street lawyer was due to the lack of interest from recruiters in established law firms. And he delves into how he learned he could be more valuable by pursuing more growth for the firm than he could by spending all of his time practicing law.