Tuesday’s business headlines
INDIANAPOLIS (WISH) – Here’s a look at Tuesday’s business headlines.
New business projects
Indiana had the fifth most per capita at 189 business projects.
Site Selection Magazine says it moved up from the previous year.
The Midwest overall was strong with Ohio seeing a lot of new projects.
Texas led the list for a ninth straight year.
Mall values drop
U.S. mall values plunged an average 60% after appraisals in 2020.
Bloomberg says this is a sign of more pain to come for retail properties even as the economy emerges from pandemic-enforced lockdowns.
The malls are losing value as few buyers a willing to take risks on aging shopping centers as e-commerce continues to grab market share.
The biggest owners, such as Indianapolis-based Simon have started to triage properties, walking away from money-losers while reinvesting in viable locations.
Air travel confidence
The number of Americans traveling through airports is regularly topping a million a day.
The TSA says on the last day of the month, Feb. 28, the number of passengers passing through airports nationwide surpassed 1.9 million.
Government and Google
The U.S. government asked Google to fork over granular information on how its search engine works and makes money, seeking to prove that the internet is a giant monoply.
It is being asked to share data on how and where users search in those periods, the quantity of different types of ads and revenue from those ads.
The latest data request shows the government is pressing ahead under a new administration under Joe Biden.