Purdue Federal Credit Union, which has a branch at 113th Avenue and Broadway in Crown Point, was named by Forbes magazine as the No. 1 credit union in Indiana.
Forbes ranked credit unions in all 50 states as part of its America’s Best Credit Unions in East State 2022 list. It partnered with the market research firm Statista to rank the country’s 5,400 credit unions.
West Lafayette-based Purdue Federal, which has a branch at 11330 Broadway in Crown Point, topped the five Indiana credit unions that made the cut.
“Our entire Purdue Federal team is ecstatic to be recognized as the number one credit union in Indiana by Forbes and Statista,” said Purdue Federal President and CEO Bob Falk. “We strive each and every day to provide our members with excellent service, competitive products and user-friendly digital services to meet their individual needs. We are humbled by this honor and look forward to continuing to serve our valued members in Indiana and beyond.”
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Forbes ranked Evansville Teachers Federal Credit Union second in Indiana. Centra Credit Union, Via Credit Union and FORUM Credit Union rounded out the top five.
The business magazine and Statista surveyed 26,000 customers about credit unions where they have or previously had checking accounts. They were asked to rate overall satisfaction, customer service, financial advice, branch services, digital offering and trust, terms and conditions.
NWI Business Ins and Outs: Den Asian Bistro, Bankquet pop-up restaurant, Spenga Fitness Center, Encore Car Wash, Potato Express opening; Consider the Lilies closing
Open
A new sushi restaurant has rolled into Dyer.
Den Asian Bistro opened Wednesday. The new restaurant is serving authentic pan-Asian cuisine in the former Bin 27 Grille space in the Galleria Buildings on U.S. 30.
The restaurant at 275 Joliet St. specializes in Japanese, Chinese, Thai and Korean. Owner Kevin Goa describes it as Asian fusion.
Joseph S. Pete
‘Indoor-outdoor space’ with fountain
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
Joseph S. Pete
‘Expansive menu’
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
Joseph S. Pete
Full sushi bar
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
The house roll, the Den Roulette, consists of shrimp tempura, avocado, cream cheese, scallop, tobiko, tempura crunch and scallion. The twist is it includes a spicy mystery piece and the person who gets it must take a shot of sake from the plate.
Joseph S. Pete
Full bar
“We created it ourselves,” he said. “Our sushi chef did. One piece of the roll has a special flavor.”
The full bar includes sake, wine, cocktails, Japanese whiskeys and imported Asian beer.
Joseph S. Pete
Indoor and outdoor seating
Den Asian Bistro sits about 60 people in its 3,000-square-foot space. It also has an outdoor patio.
“There’s outdoor seating by a water fountain,” he said. “There’s a bar and family dining. There’s a section where we can open the roof. It’s what we call indoor outdoor dining.”
Joseph S. Pete
Right by the state line
The restaurant employs about a dozen people. Gao expects it to draw from both Indiana and Illinois since it’s so close to the border. He’s hoping eventually to open a few more locations in Northwest Indiana.
He describes it as fine dining without high-end prices.
Joseph S. Pete
Open daily
Den Asian Bistro will be open from 10:30 a.m. to 9 p.m. weekdays and 12-10 p.m. Fridays and Saturdays.
For more information, visit denasianbistro.com or find the business on Facebook.
Joseph S. Pete
Coming soon
Encore Car Wash is coming soon to Hammond.
The car wash will be located next to the new Culver’s near the Cabela’s and Super Walmart southwest of the Indianapolis Boulevard exit on Interstate 80/94.
Encore Car Wash is a chain that opened its first location at 16340 S. Lincoln Highway in Plainfield and plans to open in Hammond this fall. It will expand to Westmont and Oak Lawn next year.
“At Encore, we want to change the way you think when you think about a car wash. With a return to good old-fashioned service and all of the most modern technology,” the business said on its website. “From our beautiful washes — featuring reclaimed brick from historic buildings in the city of Chicago and exterior murals by various artists — to our state-of-the-art equipment, we aim to make every trip to Encore worth your while. And then some.”
For more information, visit encorecarwash.com or email [email protected].
Joseph S. Pete
Pop-up
The Bankquet in downtown Griffith opened a pop-up restaurant on its outdoor patio this summer.
The banquet hall occupies a historic bank building at 101 E. Main St. in Griffith. It hosts weddings, other special events and performances.
The pop-up restaurant offers al fresco dining for dinner and Sunday brunch. The hours and menu vary from week to week. It’s served brioche French toast, salads, pizza, charcuterie, farm-raised pulled pork and small plates like spiced corn fritter, baked artisan brie fondue and chicken wings.
Joseph S. Pete
Now open
The Bankquet’s pop-up restaurant also has featured live performances from acoustic singer-songwriters.
For more information, call 219-313-2051 or find The Bankquet on Facebook.
Joseph S. Pete
Coming soon
Spenga will soon offer spin, strength and yoga in Valparaiso.
A Spenga Fitness Center is opening for business soon at 91 Silhavy Road in Valparaiso Walk, where it is now taking membership presales.
The Homer Glen-based company aims to “deliver cardiovascular strength and flexibility training through a combination of spin, strength and yoga workouts.” Founded in 2015, Inc. magazine ranked it as the 43rd fastest-growing privately owned franchise in the Midwest.
The fitness chain has five locations in Chicagoland. The Valparaiso location is just the second in Indiana after Carmel.
It offers 60-minute workouts that put equal emphasis on cardio, strength and flexibility to attain a high caloric burn and “maximize your results without breaking down your body.”
Encouraging members to work smarter not harder, Spenga employs instructors who personalize every workout. It has a 20-20-20 format in which gym-goers complete one segment and move on to the next one.
Workouts include spinning, strength training and medicine balls. It offers multisensory experiences with aromatherapy and DJ-inspired playlists filled with energizing tracks.
The gym’s current presale hours are from 10 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday but it will be open longer when it opens for business this fall.
For more information, call 219-767-9375.
Joseph S. Pete
Open
Potato Express has found a permanent home in downtown Hammond.
The restaurant specializing in loaded potatoes first opened in the Hammond Development Corp.’s pop-up cafe space in the former Blue Room Cafe in downtown Hammond.
It now has a permanent home in the former Philly Steaks and Fresh Lemonade at 5252 Hohman Ave.
Joseph S. Pete
Potato-themed menu
The menu includes many specialty spuds topped with pot roast, jerk chicken, Italian beef, alfredo and taco meat as well as toppings like cheese, broccoli, chili, bacon, chicken and steak. The hearty breakfast potato is topped with sausage, turkey ham, hash browns, sausage gravy and egg.
It also has soul bowls, a Thanksgiving Overload feast and sides like greens, mac and cheese, broccoli and red beans and rice.
If you crave even more potatoes, you can get a side of fries, cheese fries, loaded fries or mashed potatoes to go along with your loaded potato.
Joseph S. Pete
All your potato needs
Potato Express offers dine-in, carryout and delivery through DoorDash and GrubHub.
Catering to the work crowd in downtown Hammond, the restaurant is open from 11 a.m. to 5 p.m. Monday through Friday.
For more information, call 219-545-5735 or find the business on Facebook.
Joseph S. Pete
Closing
Consider the Lilies Giftery at 8237 Forest Ave. in Munster is shuttering after four years.
Named after the Bible quote “consider the lilies of the field, how they grow; they toil not, neither do they spin,” the boutique gift shop sold handcrafted goods from more than 50 vendors. While it mainly stocked the work of local artisans like Tiddleywink Toffee, the Gourmet Goddess and Mother Wilma’s Marshmallow Factory, it also carried products from as far away as Kenya.
“Thanks be to God for the past four years of ‘Considering the Lilies’ and all his goodness and blessing. We announce with bittersweet emotions that our little shop will be closing. The last six weeks have been a whirlwind as we were approached to sell our property for a new incoming development. After prayer, advice and confirmation, we decided it was best to do so.”
A liquidation sale started Friday, with everything initially marked down by 50%. The store stocks a variety of goods from vendors like Flannel Candle Co., Poppies Candles & Gifts and Bird and Bear Dolls.
Joseph S. Pete
Liquidation sale
“Words cannot express our gratitude and thanks to all of you for your support and friendship through these years,” the owners posted on Facebook. “A special thank you to all the artisans who made my shop all that it could be with your beautiful handcrafted goods. Thank you, also, to my incredible staff in Jen, Darla, Alex, Mara and Diane and my sisters’ cheerleading along the way. Such an amazing gift. Thank you to my family, hubby, kids grandkids, parents, siblings and dear friends for loads of help, affirmation and encouragement continuously through it all.”
Munster resident Julie Kapteyn opened the business out of a love pop-up craft and artisan markets like The Fetching Market and a wish there was a permanent brick-and-mortar place she could go to buy handmade goods like jewelry, home decor, handbags candles and leather journals.
She expressed gratitude to all her customers over the years.
“Last but not least, thank you to all the beautiful people of this community and beyond who chose to shop local or small, support local artisans and give me the privilege of serving you in this way,” the business posted on Facebook. “You have blessed me beyond words and may our friendship live on.”
Joseph S. Pete
NWI Business Ins and Outs: Glorious Coffee and Teas, Jamba, craft brewery and Esca Kitchen open
Effort to curb CEO pay failed, IU study finds
A new study found an effort by Congress to curb CEO pay has failed.
Professors from Indiana University, the University of Chicago Booth School of Business and University of Texas examined a provision in the Tax Cuts and Jobs Act of 2017 that repealed an exemption allowing companies to deduct significant amounts of performance-based pay.
The legislation was supposed to shift the pay of top executives away from stock and performance bonuses “that can lead to a myopic emphasis on short-term results.” The hope was to incentivize companies to implement cash-based fixed compensation instead.
But the study found the change in law ultimately had little effect. CEO compensation either stayed the same or grew.
“It’s very politically amenable right now to say they’re going to tax these corporations and these executives and it’s going to reduce income inequality, but our research — and that of others — suggests that taxes are just not a big enough stick to change the structure or the magnitude of executive compensation,” said Bridget Stomberg, associate professor of accounting and a Weimer Faculty Fellow at the IU Kelley School of Business. “We found no statistical effects, which is counter to what Congress intended. We looked very hard and see no evidence of a reduction in CEO pay.”
The journal Contemporary Accounting Research published the article, entitled “Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation.” It was researched and written by Stomberg, University of Texas Associate Professor of Accounting Lisa De Simone and Booth Assistant Professor of Accounting Charles McClure. De Simone and McClure co-host the “Taxes for the Masses” podcast.
Their study looked at CEO pay before and after the tax policy change. It found no substantive differences in compensation mix, pay-performance sensitivity or total compensation.
Publicly traded companies were able to deduct up to $1 million in C-suite pay from their taxes since 1994, unless it was linked to company performance.
When Congress slashed the corporate tax rate from 35% to 21% in 2017, it got rid of that exemption. The study looked at CEO pay when the new tax rules took effect in 2017 and 2018 and then in 2019 and 2020.
“Even three full years after the law took effect, we didn’t see any evidence of a reduction in CEO pay,” she said.
The authors concluded tax regulation likely would not be effective at limiting executive compensation and reducing income inequality, a policy strategy pursued in cities like Portland and San Francisco.
“If Congress’ fundamental assumption about the relative importance of taxes in the design of executive compensation is overstated, its ability to shift current compensation practices through changes in tax policy is also likely overstated,” the authors said. “Our results and those from prior studies suggest increases in firms’ cost of executive compensation do little to reduce its amount.”
NWI Business Ins and Outs: Den Asian Bistro, Bankquet pop-up restaurant, Spenga Fitness Center, Encore Car Wash, Potato Express opening; Consider the Lilies closing
Open
A new sushi restaurant has rolled into Dyer.
Den Asian Bistro opened Wednesday. The new restaurant is serving authentic pan-Asian cuisine in the former Bin 27 Grille space in the Galleria Buildings on U.S. 30.
The restaurant at 275 Joliet St. specializes in Japanese, Chinese, Thai and Korean. Owner Kevin Goa describes it as Asian fusion.
Joseph S. Pete
‘Indoor-outdoor space’ with fountain
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
Joseph S. Pete
‘Expansive menu’
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
Joseph S. Pete
Full sushi bar
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
The house roll, the Den Roulette, consists of shrimp tempura, avocado, cream cheese, scallop, tobiko, tempura crunch and scallion. The twist is it includes a spicy mystery piece and the person who gets it must take a shot of sake from the plate.
Joseph S. Pete
Full bar
“We created it ourselves,” he said. “Our sushi chef did. One piece of the roll has a special flavor.”
The full bar includes sake, wine, cocktails, Japanese whiskeys and imported Asian beer.
Joseph S. Pete
Indoor and outdoor seating
Den Asian Bistro sits about 60 people in its 3,000-square-foot space. It also has an outdoor patio.
“There’s outdoor seating by a water fountain,” he said. “There’s a bar and family dining. There’s a section where we can open the roof. It’s what we call indoor outdoor dining.”
Joseph S. Pete
Right by the state line
The restaurant employs about a dozen people. Gao expects it to draw from both Indiana and Illinois since it’s so close to the border. He’s hoping eventually to open a few more locations in Northwest Indiana.
He describes it as fine dining without high-end prices.
Joseph S. Pete
Open daily
Den Asian Bistro will be open from 10:30 a.m. to 9 p.m. weekdays and 12-10 p.m. Fridays and Saturdays.
For more information, visit denasianbistro.com or find the business on Facebook.
Joseph S. Pete
Coming soon
Encore Car Wash is coming soon to Hammond.
The car wash will be located next to the new Culver’s near the Cabela’s and Super Walmart southwest of the Indianapolis Boulevard exit on Interstate 80/94.
Encore Car Wash is a chain that opened its first location at 16340 S. Lincoln Highway in Plainfield and plans to open in Hammond this fall. It will expand to Westmont and Oak Lawn next year.
“At Encore, we want to change the way you think when you think about a car wash. With a return to good old-fashioned service and all of the most modern technology,” the business said on its website. “From our beautiful washes — featuring reclaimed brick from historic buildings in the city of Chicago and exterior murals by various artists — to our state-of-the-art equipment, we aim to make every trip to Encore worth your while. And then some.”
For more information, visit encorecarwash.com or email [email protected].
Joseph S. Pete
Pop-up
The Bankquet in downtown Griffith opened a pop-up restaurant on its outdoor patio this summer.
The banquet hall occupies a historic bank building at 101 E. Main St. in Griffith. It hosts weddings, other special events and performances.
The pop-up restaurant offers al fresco dining for dinner and Sunday brunch. The hours and menu vary from week to week. It’s served brioche French toast, salads, pizza, charcuterie, farm-raised pulled pork and small plates like spiced corn fritter, baked artisan brie fondue and chicken wings.
Joseph S. Pete
Now open
The Bankquet’s pop-up restaurant also has featured live performances from acoustic singer-songwriters.
For more information, call 219-313-2051 or find The Bankquet on Facebook.
Joseph S. Pete
Coming soon
Spenga will soon offer spin, strength and yoga in Valparaiso.
A Spenga Fitness Center is opening for business soon at 91 Silhavy Road in Valparaiso Walk, where it is now taking membership presales.
The Homer Glen-based company aims to “deliver cardiovascular strength and flexibility training through a combination of spin, strength and yoga workouts.” Founded in 2015, Inc. magazine ranked it as the 43rd fastest-growing privately owned franchise in the Midwest.
The fitness chain has five locations in Chicagoland. The Valparaiso location is just the second in Indiana after Carmel.
It offers 60-minute workouts that put equal emphasis on cardio, strength and flexibility to attain a high caloric burn and “maximize your results without breaking down your body.”
Encouraging members to work smarter not harder, Spenga employs instructors who personalize every workout. It has a 20-20-20 format in which gym-goers complete one segment and move on to the next one.
Workouts include spinning, strength training and medicine balls. It offers multisensory experiences with aromatherapy and DJ-inspired playlists filled with energizing tracks.
The gym’s current presale hours are from 10 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday but it will be open longer when it opens for business this fall.
For more information, call 219-767-9375.
Joseph S. Pete
Open
Potato Express has found a permanent home in downtown Hammond.
The restaurant specializing in loaded potatoes first opened in the Hammond Development Corp.’s pop-up cafe space in the former Blue Room Cafe in downtown Hammond.
It now has a permanent home in the former Philly Steaks and Fresh Lemonade at 5252 Hohman Ave.
Joseph S. Pete
Potato-themed menu
The menu includes many specialty spuds topped with pot roast, jerk chicken, Italian beef, alfredo and taco meat as well as toppings like cheese, broccoli, chili, bacon, chicken and steak. The hearty breakfast potato is topped with sausage, turkey ham, hash browns, sausage gravy and egg.
It also has soul bowls, a Thanksgiving Overload feast and sides like greens, mac and cheese, broccoli and red beans and rice.
If you crave even more potatoes, you can get a side of fries, cheese fries, loaded fries or mashed potatoes to go along with your loaded potato.
Joseph S. Pete
All your potato needs
Potato Express offers dine-in, carryout and delivery through DoorDash and GrubHub.
Catering to the work crowd in downtown Hammond, the restaurant is open from 11 a.m. to 5 p.m. Monday through Friday.
For more information, call 219-545-5735 or find the business on Facebook.
Joseph S. Pete
Closing
Consider the Lilies Giftery at 8237 Forest Ave. in Munster is shuttering after four years.
Named after the Bible quote “consider the lilies of the field, how they grow; they toil not, neither do they spin,” the boutique gift shop sold handcrafted goods from more than 50 vendors. While it mainly stocked the work of local artisans like Tiddleywink Toffee, the Gourmet Goddess and Mother Wilma’s Marshmallow Factory, it also carried products from as far away as Kenya.
“Thanks be to God for the past four years of ‘Considering the Lilies’ and all his goodness and blessing. We announce with bittersweet emotions that our little shop will be closing. The last six weeks have been a whirlwind as we were approached to sell our property for a new incoming development. After prayer, advice and confirmation, we decided it was best to do so.”
A liquidation sale started Friday, with everything initially marked down by 50%. The store stocks a variety of goods from vendors like Flannel Candle Co., Poppies Candles & Gifts and Bird and Bear Dolls.
Joseph S. Pete
Liquidation sale
“Words cannot express our gratitude and thanks to all of you for your support and friendship through these years,” the owners posted on Facebook. “A special thank you to all the artisans who made my shop all that it could be with your beautiful handcrafted goods. Thank you, also, to my incredible staff in Jen, Darla, Alex, Mara and Diane and my sisters’ cheerleading along the way. Such an amazing gift. Thank you to my family, hubby, kids grandkids, parents, siblings and dear friends for loads of help, affirmation and encouragement continuously through it all.”
Munster resident Julie Kapteyn opened the business out of a love pop-up craft and artisan markets like The Fetching Market and a wish there was a permanent brick-and-mortar place she could go to buy handmade goods like jewelry, home decor, handbags candles and leather journals.
She expressed gratitude to all her customers over the years.
“Last but not least, thank you to all the beautiful people of this community and beyond who chose to shop local or small, support local artisans and give me the privilege of serving you in this way,” the business posted on Facebook. “You have blessed me beyond words and may our friendship live on.”
Joseph S. Pete
NWI Business Ins and Outs: Glorious Coffee and Teas, Jamba, craft brewery and Esca Kitchen open
Effort to curb CEO pay failed, IU study finds
A new study found an effort by Congress to curb CEO pay has failed.
Professors from Indiana University, the University of Chicago Booth School of Business and University of Texas examined a provision in the Tax Cuts and Jobs Act of 2017 that repealed an exemption allowing companies to deduct significant amounts of performance-based pay.
The legislation was supposed to shift the pay of top executives away from stock and performance bonuses “that can lead to a myopic emphasis on short-term results.” The hope was to incentivize companies to implement cash-based fixed compensation instead.
But the study found the change in law ultimately had little effect. CEO compensation either stayed the same or grew.
“It’s very politically amenable right now to say they’re going to tax these corporations and these executives and it’s going to reduce income inequality, but our research — and that of others — suggests that taxes are just not a big enough stick to change the structure or the magnitude of executive compensation,” said Bridget Stomberg, associate professor of accounting and a Weimer Faculty Fellow at the IU Kelley School of Business. “We found no statistical effects, which is counter to what Congress intended. We looked very hard and see no evidence of a reduction in CEO pay.”
The journal Contemporary Accounting Research published the article, entitled “Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation.” It was researched and written by Stomberg, University of Texas Associate Professor of Accounting Lisa De Simone and Booth Assistant Professor of Accounting Charles McClure. De Simone and McClure co-host the “Taxes for the Masses” podcast.
Their study looked at CEO pay before and after the tax policy change. It found no substantive differences in compensation mix, pay-performance sensitivity or total compensation.
Publicly traded companies were able to deduct up to $1 million in C-suite pay from their taxes since 1994, unless it was linked to company performance.
When Congress slashed the corporate tax rate from 35% to 21% in 2017, it got rid of that exemption. The study looked at CEO pay when the new tax rules took effect in 2017 and 2018 and then in 2019 and 2020.
“Even three full years after the law took effect, we didn’t see any evidence of a reduction in CEO pay,” she said.
The authors concluded tax regulation likely would not be effective at limiting executive compensation and reducing income inequality, a policy strategy pursued in cities like Portland and San Francisco.
“If Congress’ fundamental assumption about the relative importance of taxes in the design of executive compensation is overstated, its ability to shift current compensation practices through changes in tax policy is also likely overstated,” the authors said. “Our results and those from prior studies suggest increases in firms’ cost of executive compensation do little to reduce its amount.”
NWI Business Ins and Outs: Den Asian Bistro, Bankquet pop-up restaurant, Spenga Fitness Center, Encore Car Wash, Potato Express opening; Consider the Lilies closing
Open
A new sushi restaurant has rolled into Dyer.
Den Asian Bistro opened Wednesday. The new restaurant is serving authentic pan-Asian cuisine in the former Bin 27 Grille space in the Galleria Buildings on U.S. 30.
The restaurant at 275 Joliet St. specializes in Japanese, Chinese, Thai and Korean. Owner Kevin Goa describes it as Asian fusion.
Joseph S. Pete
‘Indoor-outdoor space’ with fountain
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
Joseph S. Pete
‘Expansive menu’
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
Joseph S. Pete
Full sushi bar
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
The house roll, the Den Roulette, consists of shrimp tempura, avocado, cream cheese, scallop, tobiko, tempura crunch and scallion. The twist is it includes a spicy mystery piece and the person who gets it must take a shot of sake from the plate.
Joseph S. Pete
Full bar
“We created it ourselves,” he said. “Our sushi chef did. One piece of the roll has a special flavor.”
The full bar includes sake, wine, cocktails, Japanese whiskeys and imported Asian beer.
Joseph S. Pete
Indoor and outdoor seating
Den Asian Bistro sits about 60 people in its 3,000-square-foot space. It also has an outdoor patio.
“There’s outdoor seating by a water fountain,” he said. “There’s a bar and family dining. There’s a section where we can open the roof. It’s what we call indoor outdoor dining.”
Joseph S. Pete
Right by the state line
The restaurant employs about a dozen people. Gao expects it to draw from both Indiana and Illinois since it’s so close to the border. He’s hoping eventually to open a few more locations in Northwest Indiana.
He describes it as fine dining without high-end prices.
Joseph S. Pete
Open daily
Den Asian Bistro will be open from 10:30 a.m. to 9 p.m. weekdays and 12-10 p.m. Fridays and Saturdays.
For more information, visit denasianbistro.com or find the business on Facebook.
Joseph S. Pete
Coming soon
Encore Car Wash is coming soon to Hammond.
The car wash will be located next to the new Culver’s near the Cabela’s and Super Walmart southwest of the Indianapolis Boulevard exit on Interstate 80/94.
Encore Car Wash is a chain that opened its first location at 16340 S. Lincoln Highway in Plainfield and plans to open in Hammond this fall. It will expand to Westmont and Oak Lawn next year.
“At Encore, we want to change the way you think when you think about a car wash. With a return to good old-fashioned service and all of the most modern technology,” the business said on its website. “From our beautiful washes — featuring reclaimed brick from historic buildings in the city of Chicago and exterior murals by various artists — to our state-of-the-art equipment, we aim to make every trip to Encore worth your while. And then some.”
For more information, visit encorecarwash.com or email [email protected].
Joseph S. Pete
Pop-up
The Bankquet in downtown Griffith opened a pop-up restaurant on its outdoor patio this summer.
The banquet hall occupies a historic bank building at 101 E. Main St. in Griffith. It hosts weddings, other special events and performances.
The pop-up restaurant offers al fresco dining for dinner and Sunday brunch. The hours and menu vary from week to week. It’s served brioche French toast, salads, pizza, charcuterie, farm-raised pulled pork and small plates like spiced corn fritter, baked artisan brie fondue and chicken wings.
Joseph S. Pete
Now open
The Bankquet’s pop-up restaurant also has featured live performances from acoustic singer-songwriters.
For more information, call 219-313-2051 or find The Bankquet on Facebook.
Joseph S. Pete
Coming soon
Spenga will soon offer spin, strength and yoga in Valparaiso.
A Spenga Fitness Center is opening for business soon at 91 Silhavy Road in Valparaiso Walk, where it is now taking membership presales.
The Homer Glen-based company aims to “deliver cardiovascular strength and flexibility training through a combination of spin, strength and yoga workouts.” Founded in 2015, Inc. magazine ranked it as the 43rd fastest-growing privately owned franchise in the Midwest.
The fitness chain has five locations in Chicagoland. The Valparaiso location is just the second in Indiana after Carmel.
It offers 60-minute workouts that put equal emphasis on cardio, strength and flexibility to attain a high caloric burn and “maximize your results without breaking down your body.”
Encouraging members to work smarter not harder, Spenga employs instructors who personalize every workout. It has a 20-20-20 format in which gym-goers complete one segment and move on to the next one.
Workouts include spinning, strength training and medicine balls. It offers multisensory experiences with aromatherapy and DJ-inspired playlists filled with energizing tracks.
The gym’s current presale hours are from 10 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday but it will be open longer when it opens for business this fall.
For more information, call 219-767-9375.
Joseph S. Pete
Open
Potato Express has found a permanent home in downtown Hammond.
The restaurant specializing in loaded potatoes first opened in the Hammond Development Corp.’s pop-up cafe space in the former Blue Room Cafe in downtown Hammond.
It now has a permanent home in the former Philly Steaks and Fresh Lemonade at 5252 Hohman Ave.
Joseph S. Pete
Potato-themed menu
The menu includes many specialty spuds topped with pot roast, jerk chicken, Italian beef, alfredo and taco meat as well as toppings like cheese, broccoli, chili, bacon, chicken and steak. The hearty breakfast potato is topped with sausage, turkey ham, hash browns, sausage gravy and egg.
It also has soul bowls, a Thanksgiving Overload feast and sides like greens, mac and cheese, broccoli and red beans and rice.
If you crave even more potatoes, you can get a side of fries, cheese fries, loaded fries or mashed potatoes to go along with your loaded potato.
Joseph S. Pete
All your potato needs
Potato Express offers dine-in, carryout and delivery through DoorDash and GrubHub.
Catering to the work crowd in downtown Hammond, the restaurant is open from 11 a.m. to 5 p.m. Monday through Friday.
For more information, call 219-545-5735 or find the business on Facebook.
Joseph S. Pete
Closing
Consider the Lilies Giftery at 8237 Forest Ave. in Munster is shuttering after four years.
Named after the Bible quote “consider the lilies of the field, how they grow; they toil not, neither do they spin,” the boutique gift shop sold handcrafted goods from more than 50 vendors. While it mainly stocked the work of local artisans like Tiddleywink Toffee, the Gourmet Goddess and Mother Wilma’s Marshmallow Factory, it also carried products from as far away as Kenya.
“Thanks be to God for the past four years of ‘Considering the Lilies’ and all his goodness and blessing. We announce with bittersweet emotions that our little shop will be closing. The last six weeks have been a whirlwind as we were approached to sell our property for a new incoming development. After prayer, advice and confirmation, we decided it was best to do so.”
A liquidation sale started Friday, with everything initially marked down by 50%. The store stocks a variety of goods from vendors like Flannel Candle Co., Poppies Candles & Gifts and Bird and Bear Dolls.
Joseph S. Pete
Liquidation sale
“Words cannot express our gratitude and thanks to all of you for your support and friendship through these years,” the owners posted on Facebook. “A special thank you to all the artisans who made my shop all that it could be with your beautiful handcrafted goods. Thank you, also, to my incredible staff in Jen, Darla, Alex, Mara and Diane and my sisters’ cheerleading along the way. Such an amazing gift. Thank you to my family, hubby, kids grandkids, parents, siblings and dear friends for loads of help, affirmation and encouragement continuously through it all.”
Munster resident Julie Kapteyn opened the business out of a love pop-up craft and artisan markets like The Fetching Market and a wish there was a permanent brick-and-mortar place she could go to buy handmade goods like jewelry, home decor, handbags candles and leather journals.
She expressed gratitude to all her customers over the years.
“Last but not least, thank you to all the beautiful people of this community and beyond who chose to shop local or small, support local artisans and give me the privilege of serving you in this way,” the business posted on Facebook. “You have blessed me beyond words and may our friendship live on.”
Joseph S. Pete
NWI Business Ins and Outs: Glorious Coffee and Teas, Jamba, craft brewery and Esca Kitchen open
Effort to curb CEO pay failed, IU study finds
A new study found an effort by Congress to curb CEO pay has failed.
Professors from Indiana University, the University of Chicago Booth School of Business and University of Texas examined a provision in the Tax Cuts and Jobs Act of 2017 that repealed an exemption allowing companies to deduct significant amounts of performance-based pay.
The legislation was supposed to shift the pay of top executives away from stock and performance bonuses “that can lead to a myopic emphasis on short-term results.” The hope was to incentivize companies to implement cash-based fixed compensation instead.
But the study found the change in law ultimately had little effect. CEO compensation either stayed the same or grew.
“It’s very politically amenable right now to say they’re going to tax these corporations and these executives and it’s going to reduce income inequality, but our research — and that of others — suggests that taxes are just not a big enough stick to change the structure or the magnitude of executive compensation,” said Bridget Stomberg, associate professor of accounting and a Weimer Faculty Fellow at the IU Kelley School of Business. “We found no statistical effects, which is counter to what Congress intended. We looked very hard and see no evidence of a reduction in CEO pay.”
The journal Contemporary Accounting Research published the article, entitled “Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation.” It was researched and written by Stomberg, University of Texas Associate Professor of Accounting Lisa De Simone and Booth Assistant Professor of Accounting Charles McClure. De Simone and McClure co-host the “Taxes for the Masses” podcast.
Their study looked at CEO pay before and after the tax policy change. It found no substantive differences in compensation mix, pay-performance sensitivity or total compensation.
Publicly traded companies were able to deduct up to $1 million in C-suite pay from their taxes since 1994, unless it was linked to company performance.
When Congress slashed the corporate tax rate from 35% to 21% in 2017, it got rid of that exemption. The study looked at CEO pay when the new tax rules took effect in 2017 and 2018 and then in 2019 and 2020.
“Even three full years after the law took effect, we didn’t see any evidence of a reduction in CEO pay,” she said.
The authors concluded tax regulation likely would not be effective at limiting executive compensation and reducing income inequality, a policy strategy pursued in cities like Portland and San Francisco.
“If Congress’ fundamental assumption about the relative importance of taxes in the design of executive compensation is overstated, its ability to shift current compensation practices through changes in tax policy is also likely overstated,” the authors said. “Our results and those from prior studies suggest increases in firms’ cost of executive compensation do little to reduce its amount.”
NWI Business Ins and Outs: Den Asian Bistro, Bankquet pop-up restaurant, Spenga Fitness Center, Encore Car Wash, Potato Express opening; Consider the Lilies closing
Open
A new sushi restaurant has rolled into Dyer.
Den Asian Bistro opened Wednesday. The new restaurant is serving authentic pan-Asian cuisine in the former Bin 27 Grille space in the Galleria Buildings on U.S. 30.
The restaurant at 275 Joliet St. specializes in Japanese, Chinese, Thai and Korean. Owner Kevin Goa describes it as Asian fusion.
Joseph S. Pete
‘Indoor-outdoor space’ with fountain
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
Joseph S. Pete
‘Expansive menu’
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
Joseph S. Pete
Full sushi bar
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
The house roll, the Den Roulette, consists of shrimp tempura, avocado, cream cheese, scallop, tobiko, tempura crunch and scallion. The twist is it includes a spicy mystery piece and the person who gets it must take a shot of sake from the plate.
Joseph S. Pete
Full bar
“We created it ourselves,” he said. “Our sushi chef did. One piece of the roll has a special flavor.”
The full bar includes sake, wine, cocktails, Japanese whiskeys and imported Asian beer.
Joseph S. Pete
Indoor and outdoor seating
Den Asian Bistro sits about 60 people in its 3,000-square-foot space. It also has an outdoor patio.
“There’s outdoor seating by a water fountain,” he said. “There’s a bar and family dining. There’s a section where we can open the roof. It’s what we call indoor outdoor dining.”
Joseph S. Pete
Right by the state line
The restaurant employs about a dozen people. Gao expects it to draw from both Indiana and Illinois since it’s so close to the border. He’s hoping eventually to open a few more locations in Northwest Indiana.
He describes it as fine dining without high-end prices.
Joseph S. Pete
Open daily
Den Asian Bistro will be open from 10:30 a.m. to 9 p.m. weekdays and 12-10 p.m. Fridays and Saturdays.
For more information, visit denasianbistro.com or find the business on Facebook.
Joseph S. Pete
Coming soon
Encore Car Wash is coming soon to Hammond.
The car wash will be located next to the new Culver’s near the Cabela’s and Super Walmart southwest of the Indianapolis Boulevard exit on Interstate 80/94.
Encore Car Wash is a chain that opened its first location at 16340 S. Lincoln Highway in Plainfield and plans to open in Hammond this fall. It will expand to Westmont and Oak Lawn next year.
“At Encore, we want to change the way you think when you think about a car wash. With a return to good old-fashioned service and all of the most modern technology,” the business said on its website. “From our beautiful washes — featuring reclaimed brick from historic buildings in the city of Chicago and exterior murals by various artists — to our state-of-the-art equipment, we aim to make every trip to Encore worth your while. And then some.”
For more information, visit encorecarwash.com or email [email protected].
Joseph S. Pete
Pop-up
The Bankquet in downtown Griffith opened a pop-up restaurant on its outdoor patio this summer.
The banquet hall occupies a historic bank building at 101 E. Main St. in Griffith. It hosts weddings, other special events and performances.
The pop-up restaurant offers al fresco dining for dinner and Sunday brunch. The hours and menu vary from week to week. It’s served brioche French toast, salads, pizza, charcuterie, farm-raised pulled pork and small plates like spiced corn fritter, baked artisan brie fondue and chicken wings.
Joseph S. Pete
Now open
The Bankquet’s pop-up restaurant also has featured live performances from acoustic singer-songwriters.
For more information, call 219-313-2051 or find The Bankquet on Facebook.
Joseph S. Pete
Coming soon
Spenga will soon offer spin, strength and yoga in Valparaiso.
A Spenga Fitness Center is opening for business soon at 91 Silhavy Road in Valparaiso Walk, where it is now taking membership presales.
The Homer Glen-based company aims to “deliver cardiovascular strength and flexibility training through a combination of spin, strength and yoga workouts.” Founded in 2015, Inc. magazine ranked it as the 43rd fastest-growing privately owned franchise in the Midwest.
The fitness chain has five locations in Chicagoland. The Valparaiso location is just the second in Indiana after Carmel.
It offers 60-minute workouts that put equal emphasis on cardio, strength and flexibility to attain a high caloric burn and “maximize your results without breaking down your body.”
Encouraging members to work smarter not harder, Spenga employs instructors who personalize every workout. It has a 20-20-20 format in which gym-goers complete one segment and move on to the next one.
Workouts include spinning, strength training and medicine balls. It offers multisensory experiences with aromatherapy and DJ-inspired playlists filled with energizing tracks.
The gym’s current presale hours are from 10 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday but it will be open longer when it opens for business this fall.
For more information, call 219-767-9375.
Joseph S. Pete
Open
Potato Express has found a permanent home in downtown Hammond.
The restaurant specializing in loaded potatoes first opened in the Hammond Development Corp.’s pop-up cafe space in the former Blue Room Cafe in downtown Hammond.
It now has a permanent home in the former Philly Steaks and Fresh Lemonade at 5252 Hohman Ave.
Joseph S. Pete
Potato-themed menu
The menu includes many specialty spuds topped with pot roast, jerk chicken, Italian beef, alfredo and taco meat as well as toppings like cheese, broccoli, chili, bacon, chicken and steak. The hearty breakfast potato is topped with sausage, turkey ham, hash browns, sausage gravy and egg.
It also has soul bowls, a Thanksgiving Overload feast and sides like greens, mac and cheese, broccoli and red beans and rice.
If you crave even more potatoes, you can get a side of fries, cheese fries, loaded fries or mashed potatoes to go along with your loaded potato.
Joseph S. Pete
All your potato needs
Potato Express offers dine-in, carryout and delivery through DoorDash and GrubHub.
Catering to the work crowd in downtown Hammond, the restaurant is open from 11 a.m. to 5 p.m. Monday through Friday.
For more information, call 219-545-5735 or find the business on Facebook.
Joseph S. Pete
Closing
Consider the Lilies Giftery at 8237 Forest Ave. in Munster is shuttering after four years.
Named after the Bible quote “consider the lilies of the field, how they grow; they toil not, neither do they spin,” the boutique gift shop sold handcrafted goods from more than 50 vendors. While it mainly stocked the work of local artisans like Tiddleywink Toffee, the Gourmet Goddess and Mother Wilma’s Marshmallow Factory, it also carried products from as far away as Kenya.
“Thanks be to God for the past four years of ‘Considering the Lilies’ and all his goodness and blessing. We announce with bittersweet emotions that our little shop will be closing. The last six weeks have been a whirlwind as we were approached to sell our property for a new incoming development. After prayer, advice and confirmation, we decided it was best to do so.”
A liquidation sale started Friday, with everything initially marked down by 50%. The store stocks a variety of goods from vendors like Flannel Candle Co., Poppies Candles & Gifts and Bird and Bear Dolls.
Joseph S. Pete
Liquidation sale
“Words cannot express our gratitude and thanks to all of you for your support and friendship through these years,” the owners posted on Facebook. “A special thank you to all the artisans who made my shop all that it could be with your beautiful handcrafted goods. Thank you, also, to my incredible staff in Jen, Darla, Alex, Mara and Diane and my sisters’ cheerleading along the way. Such an amazing gift. Thank you to my family, hubby, kids grandkids, parents, siblings and dear friends for loads of help, affirmation and encouragement continuously through it all.”
Munster resident Julie Kapteyn opened the business out of a love pop-up craft and artisan markets like The Fetching Market and a wish there was a permanent brick-and-mortar place she could go to buy handmade goods like jewelry, home decor, handbags candles and leather journals.
She expressed gratitude to all her customers over the years.
“Last but not least, thank you to all the beautiful people of this community and beyond who chose to shop local or small, support local artisans and give me the privilege of serving you in this way,” the business posted on Facebook. “You have blessed me beyond words and may our friendship live on.”
Joseph S. Pete
NWI Business Ins and Outs: Glorious Coffee and Teas, Jamba, craft brewery and Esca Kitchen open
Effort to curb CEO pay failed, IU study finds
A new study found an effort by Congress to curb CEO pay has failed.
Professors from Indiana University, the University of Chicago Booth School of Business and University of Texas examined a provision in the Tax Cuts and Jobs Act of 2017 that repealed an exemption allowing companies to deduct significant amounts of performance-based pay.
The legislation was supposed to shift the pay of top executives away from stock and performance bonuses “that can lead to a myopic emphasis on short-term results.” The hope was to incentivize companies to implement cash-based fixed compensation instead.
But the study found the change in law ultimately had little effect. CEO compensation either stayed the same or grew.
“It’s very politically amenable right now to say they’re going to tax these corporations and these executives and it’s going to reduce income inequality, but our research — and that of others — suggests that taxes are just not a big enough stick to change the structure or the magnitude of executive compensation,” said Bridget Stomberg, associate professor of accounting and a Weimer Faculty Fellow at the IU Kelley School of Business. “We found no statistical effects, which is counter to what Congress intended. We looked very hard and see no evidence of a reduction in CEO pay.”
The journal Contemporary Accounting Research published the article, entitled “Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation.” It was researched and written by Stomberg, University of Texas Associate Professor of Accounting Lisa De Simone and Booth Assistant Professor of Accounting Charles McClure. De Simone and McClure co-host the “Taxes for the Masses” podcast.
Their study looked at CEO pay before and after the tax policy change. It found no substantive differences in compensation mix, pay-performance sensitivity or total compensation.
Publicly traded companies were able to deduct up to $1 million in C-suite pay from their taxes since 1994, unless it was linked to company performance.
When Congress slashed the corporate tax rate from 35% to 21% in 2017, it got rid of that exemption. The study looked at CEO pay when the new tax rules took effect in 2017 and 2018 and then in 2019 and 2020.
“Even three full years after the law took effect, we didn’t see any evidence of a reduction in CEO pay,” she said.
The authors concluded tax regulation likely would not be effective at limiting executive compensation and reducing income inequality, a policy strategy pursued in cities like Portland and San Francisco.
“If Congress’ fundamental assumption about the relative importance of taxes in the design of executive compensation is overstated, its ability to shift current compensation practices through changes in tax policy is also likely overstated,” the authors said. “Our results and those from prior studies suggest increases in firms’ cost of executive compensation do little to reduce its amount.”
NWI Business Ins and Outs: Den Asian Bistro, Bankquet pop-up restaurant, Spenga Fitness Center, Encore Car Wash, Potato Express opening; Consider the Lilies closing
Open
A new sushi restaurant has rolled into Dyer.
Den Asian Bistro opened Wednesday. The new restaurant is serving authentic pan-Asian cuisine in the former Bin 27 Grille space in the Galleria Buildings on U.S. 30.
The restaurant at 275 Joliet St. specializes in Japanese, Chinese, Thai and Korean. Owner Kevin Goa describes it as Asian fusion.
Joseph S. Pete
‘Indoor-outdoor space’ with fountain
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
Joseph S. Pete
‘Expansive menu’
The expansive menu includes sushi, Pad Thai, ramen, teriyaki, curry, hibachi and wok, featuring entrees like Mongolian beef and Thai garlic shrimp.
“We have a full-service bar, sushi, fresh fish, Japanese, Thai and Korean food,” he said. “It’s a new combination in this area.”
Joseph S. Pete
Full sushi bar
The restaurant has a full sushi bar with sushi rolls, nigiri and sashimi. Rolls include the Godzilla, Chicago, Fire Dragon, Cherry Blossom, Crazy Monkey, Bangkok Coconut and Wild Jalapeno. The T-Rex features tuna, salmon, white tuna, yellowtail, spicy mayo, eel sauce and sweet mango chili.
The house roll, the Den Roulette, consists of shrimp tempura, avocado, cream cheese, scallop, tobiko, tempura crunch and scallion. The twist is it includes a spicy mystery piece and the person who gets it must take a shot of sake from the plate.
Joseph S. Pete
Full bar
“We created it ourselves,” he said. “Our sushi chef did. One piece of the roll has a special flavor.”
The full bar includes sake, wine, cocktails, Japanese whiskeys and imported Asian beer.
Joseph S. Pete
Indoor and outdoor seating
Den Asian Bistro sits about 60 people in its 3,000-square-foot space. It also has an outdoor patio.
“There’s outdoor seating by a water fountain,” he said. “There’s a bar and family dining. There’s a section where we can open the roof. It’s what we call indoor outdoor dining.”
Joseph S. Pete
Right by the state line
The restaurant employs about a dozen people. Gao expects it to draw from both Indiana and Illinois since it’s so close to the border. He’s hoping eventually to open a few more locations in Northwest Indiana.
He describes it as fine dining without high-end prices.
Joseph S. Pete
Open daily
Den Asian Bistro will be open from 10:30 a.m. to 9 p.m. weekdays and 12-10 p.m. Fridays and Saturdays.
For more information, visit denasianbistro.com or find the business on Facebook.
Joseph S. Pete
Coming soon
Encore Car Wash is coming soon to Hammond.
The car wash will be located next to the new Culver’s near the Cabela’s and Super Walmart southwest of the Indianapolis Boulevard exit on Interstate 80/94.
Encore Car Wash is a chain that opened its first location at 16340 S. Lincoln Highway in Plainfield and plans to open in Hammond this fall. It will expand to Westmont and Oak Lawn next year.
“At Encore, we want to change the way you think when you think about a car wash. With a return to good old-fashioned service and all of the most modern technology,” the business said on its website. “From our beautiful washes — featuring reclaimed brick from historic buildings in the city of Chicago and exterior murals by various artists — to our state-of-the-art equipment, we aim to make every trip to Encore worth your while. And then some.”
For more information, visit encorecarwash.com or email [email protected].
Joseph S. Pete
Pop-up
The Bankquet in downtown Griffith opened a pop-up restaurant on its outdoor patio this summer.
The banquet hall occupies a historic bank building at 101 E. Main St. in Griffith. It hosts weddings, other special events and performances.
The pop-up restaurant offers al fresco dining for dinner and Sunday brunch. The hours and menu vary from week to week. It’s served brioche French toast, salads, pizza, charcuterie, farm-raised pulled pork and small plates like spiced corn fritter, baked artisan brie fondue and chicken wings.
Joseph S. Pete
Now open
The Bankquet’s pop-up restaurant also has featured live performances from acoustic singer-songwriters.
For more information, call 219-313-2051 or find The Bankquet on Facebook.
Joseph S. Pete
Coming soon
Spenga will soon offer spin, strength and yoga in Valparaiso.
A Spenga Fitness Center is opening for business soon at 91 Silhavy Road in Valparaiso Walk, where it is now taking membership presales.
The Homer Glen-based company aims to “deliver cardiovascular strength and flexibility training through a combination of spin, strength and yoga workouts.” Founded in 2015, Inc. magazine ranked it as the 43rd fastest-growing privately owned franchise in the Midwest.
The fitness chain has five locations in Chicagoland. The Valparaiso location is just the second in Indiana after Carmel.
It offers 60-minute workouts that put equal emphasis on cardio, strength and flexibility to attain a high caloric burn and “maximize your results without breaking down your body.”
Encouraging members to work smarter not harder, Spenga employs instructors who personalize every workout. It has a 20-20-20 format in which gym-goers complete one segment and move on to the next one.
Workouts include spinning, strength training and medicine balls. It offers multisensory experiences with aromatherapy and DJ-inspired playlists filled with energizing tracks.
The gym’s current presale hours are from 10 a.m. to 5 p.m. Monday through Friday and 10 a.m. to 2 p.m. Saturday but it will be open longer when it opens for business this fall.
For more information, call 219-767-9375.
Joseph S. Pete
Open
Potato Express has found a permanent home in downtown Hammond.
The restaurant specializing in loaded potatoes first opened in the Hammond Development Corp.’s pop-up cafe space in the former Blue Room Cafe in downtown Hammond.
It now has a permanent home in the former Philly Steaks and Fresh Lemonade at 5252 Hohman Ave.
Joseph S. Pete
Potato-themed menu
The menu includes many specialty spuds topped with pot roast, jerk chicken, Italian beef, alfredo and taco meat as well as toppings like cheese, broccoli, chili, bacon, chicken and steak. The hearty breakfast potato is topped with sausage, turkey ham, hash browns, sausage gravy and egg.
It also has soul bowls, a Thanksgiving Overload feast and sides like greens, mac and cheese, broccoli and red beans and rice.
If you crave even more potatoes, you can get a side of fries, cheese fries, loaded fries or mashed potatoes to go along with your loaded potato.
Joseph S. Pete
All your potato needs
Potato Express offers dine-in, carryout and delivery through DoorDash and GrubHub.
Catering to the work crowd in downtown Hammond, the restaurant is open from 11 a.m. to 5 p.m. Monday through Friday.
For more information, call 219-545-5735 or find the business on Facebook.
Joseph S. Pete
Closing
Consider the Lilies Giftery at 8237 Forest Ave. in Munster is shuttering after four years.
Named after the Bible quote “consider the lilies of the field, how they grow; they toil not, neither do they spin,” the boutique gift shop sold handcrafted goods from more than 50 vendors. While it mainly stocked the work of local artisans like Tiddleywink Toffee, the Gourmet Goddess and Mother Wilma’s Marshmallow Factory, it also carried products from as far away as Kenya.
“Thanks be to God for the past four years of ‘Considering the Lilies’ and all his goodness and blessing. We announce with bittersweet emotions that our little shop will be closing. The last six weeks have been a whirlwind as we were approached to sell our property for a new incoming development. After prayer, advice and confirmation, we decided it was best to do so.”
A liquidation sale started Friday, with everything initially marked down by 50%. The store stocks a variety of goods from vendors like Flannel Candle Co., Poppies Candles & Gifts and Bird and Bear Dolls.
Joseph S. Pete
Liquidation sale
“Words cannot express our gratitude and thanks to all of you for your support and friendship through these years,” the owners posted on Facebook. “A special thank you to all the artisans who made my shop all that it could be with your beautiful handcrafted goods. Thank you, also, to my incredible staff in Jen, Darla, Alex, Mara and Diane and my sisters’ cheerleading along the way. Such an amazing gift. Thank you to my family, hubby, kids grandkids, parents, siblings and dear friends for loads of help, affirmation and encouragement continuously through it all.”
Munster resident Julie Kapteyn opened the business out of a love pop-up craft and artisan markets like The Fetching Market and a wish there was a permanent brick-and-mortar place she could go to buy handmade goods like jewelry, home decor, handbags candles and leather journals.
She expressed gratitude to all her customers over the years.
“Last but not least, thank you to all the beautiful people of this community and beyond who chose to shop local or small, support local artisans and give me the privilege of serving you in this way,” the business posted on Facebook. “You have blessed me beyond words and may our friendship live on.”
Joseph S. Pete
NWI Business Ins and Outs: Glorious Coffee and Teas, Jamba, craft brewery and Esca Kitchen open
Effort to curb CEO pay failed, IU study finds
A new study found an effort by Congress to curb CEO pay has failed.
Professors from Indiana University, the University of Chicago Booth School of Business and University of Texas examined a provision in the Tax Cuts and Jobs Act of 2017 that repealed an exemption allowing companies to deduct significant amounts of performance-based pay.
The legislation was supposed to shift the pay of top executives away from stock and performance bonuses “that can lead to a myopic emphasis on short-term results.” The hope was to incentivize companies to implement cash-based fixed compensation instead.
But the study found the change in law ultimately had little effect. CEO compensation either stayed the same or grew.
“It’s very politically amenable right now to say they’re going to tax these corporations and these executives and it’s going to reduce income inequality, but our research — and that of others — suggests that taxes are just not a big enough stick to change the structure or the magnitude of executive compensation,” said Bridget Stomberg, associate professor of accounting and a Weimer Faculty Fellow at the IU Kelley School of Business. “We found no statistical effects, which is counter to what Congress intended. We looked very hard and see no evidence of a reduction in CEO pay.”
The journal Contemporary Accounting Research published the article, entitled “Examining the Effects of the Tax Cuts and Jobs Act on Executive Compensation.” It was researched and written by Stomberg, University of Texas Associate Professor of Accounting Lisa De Simone and Booth Assistant Professor of Accounting Charles McClure. De Simone and McClure co-host the “Taxes for the Masses” podcast.
Their study looked at CEO pay before and after the tax policy change. It found no substantive differences in compensation mix, pay-performance sensitivity or total compensation.
Publicly traded companies were able to deduct up to $1 million in C-suite pay from their taxes since 1994, unless it was linked to company performance.
When Congress slashed the corporate tax rate from 35% to 21% in 2017, it got rid of that exemption. The study looked at CEO pay when the new tax rules took effect in 2017 and 2018 and then in 2019 and 2020.
“Even three full years after the law took effect, we didn’t see any evidence of a reduction in CEO pay,” she said.
The authors concluded tax regulation likely would not be effective at limiting executive compensation and reducing income inequality, a policy strategy pursued in cities like Portland and San Francisco.
“If Congress’ fundamental assumption about the relative importance of taxes in the design of executive compensation is overstated, its ability to shift current compensation practices through changes in tax policy is also likely overstated,” the authors said. “Our results and those from prior studies suggest increases in firms’ cost of executive compensation do little to reduce its amount.”