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Cheat Sheet: Thursday's biggest stories

If you read one thing today, read this.

Joe Tamborello and Allison L. Carter
Gwen Robinson is the owner of Aj’s Lounge, which is closing its door on Senate Avenue on Saturday. Robinson hopes to find a new location in the neighborhood.

1. How Bill Polian's Colts went from joke to contender.

When Polian became GM of the Colts, he was dealing with a not-so-awesome team in a basketball-crazed state. But then he picked Manning over Leaf. Then he saw potential in Jeff Saturday, who was working in a North Carolina hardware store at the time. Then he made decisions that helped the Colts keep winning and winning and winning.

Now he'll become just the fourth Colt inducted into the Hall of Fame.

But not every draft pick was golden. See his best and worst picks.

2. What the resignation of IndyCar's Derrick Walker means.

IndyCar's president will step down, effective August 31. It's the end of an often tumultuous tenure at the top. Some are happy to see him leave; others hailed him as an effective leader. Either way, the series will have to move on, and who will replace him?

"Whether it's being president or race director, it's a really hard job," Ed Carpenter said. "It's hard to find a good candidate to replace a good candidate."

3. Take a look at the new Pacers.

It took less than a month for the Indiana Pacers to undergo a massive change. Now, will those changes move the team up in the standings?

Download the IndyStar's Pacers app for Apple and Android.

4. Indy's oldest African-American-owned bar is moving.

It's a place where politicians and police officers go to share secrets. AJ's Lounge will close on Saturday. Owner Gwen Robinson hopes to find a new location by the end of August.

AJ Robinson, the original owner, came to Indy to better himself and his family. It was a good move.

See more stories of life in Indy.

These are your rights during a police encounter.

5. Monument Circle will be changing.

Indy's Big Car Collective is using a $200,000 grant to turn Indy's most iconic setting into a pedestrian-friendly place for walking, hanging out, yoga, shows and more. Traffic will be narrowed to one lane for driving and one lane for parking. The rest of the space will be used to offer more hangout spaces, tables, opportunities for art and more.

A new playground is also coming to Downtown.