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2011 NEWSMAKER: Simon collects big raise, takes on Amazon.com

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Newsmakers
Simon
                              takes on Amazon.com Melangton Daniels White in crosshairs as reformers target IPS

Simon Property Group Inc. took a big step in 2011 to lock down its well-respected CEO, already the state’s highest-paid chief executive.

The company signed an employment agreement with CEO David Simon that will keep him as head of the Indianapolis-based company the next eight years.

The deal gives Simon, 49, a one-time award of 1 million long-term-incentive performance units—worth $120 million at the current share price—that begin vesting in six years as part of the agreement.

“David Simon is widely recognized as the leading CEO in our industry and one of the top executives in corporate America,” Simon Property said in an e-mailed statement. “The board believes it is in the best interest of SPG shareholders to secure Mr. Simon’s continued service as CEO for at least the next eight years through this equity-based retention plan with long-term vesting.”

Simon has been CEO of the real estate investment trust since 1995.

Simon Simon

He received a pay package of cash, stock and perks valued at $24.6 million for 2010. About $13.3 million came in the form of stock awards that will pay out only if Simon achieves certain targets in the future.

Shortly after landing his long-term deal, Simon aimed his famous ire at Amazon and its sales-tax advantage. The company filed suit against the Indiana Department of Revenue in an attempt to force the state to collect sales taxes from Amazon.com Inc.

The mall powerhouse said it filed the suit not to collect “monetary damages,” but to level the playing field for Indiana’s brick-and-mortar retailers, including the tenants at its 27 Indiana shopping centers.

David Simon has made no secret of his annoyance at the tax advantage Amazon enjoys, summing up his position at an address to the Economic Club of Indiana in 2010.

“[The] Internet has a distinct advantage, which in my opinion is unfair,” he said at the time. “And hopefully we’re looking for fairness in our tax system. If you sell it in the physical world versus the virtual world, it ought to be the same. We need to level the playing field tax-wise.”•

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  1. Of what value is selling alcoholic beverages to State Fair patrons when there are many families with children attending. Is this the message we want to give children attending and participating in the Fair, another venue with alooholic consumption onsite. Is this to promote beer and wine production in the state which are great for the breweries and wineries, but where does this end up 10-15 years from now, lots more drinkers for the alcoholic contents. If these drinks are so important, why not remove the alcohol content and the flavor and drink itself similar to soft drinks would be the novelty, not the alcoholic content and its affects on the drinker. There is no social or material benefit from drinking alcoholic beverages, mostly people want to get slightly or highly drunk.

  2. I did;nt know anyone in Indiana could count- WHY did they NOT SAY just HOW this would be enforced? Because it WON;T! NOW- with that said- BIG BROTHER is ALIVE in this Article-why take any comment if it won't appease YOU PEOPLE- that's NOT American- with EVERYTHING you indicated is NOT said-I can see WHY it say's o Comments- YOU are COMMIES- BIG BROTHER and most likely- voted for Obama!

  3. In Europe there are schools for hairdressing but you don't get a license afterwards but you are required to assist in turkey and Italy its 7 years in japan it's 10 years England 2 so these people who assist know how to do hair their not just anybody and if your an owner and you hire someone with no experience then ur an idiot I've known stylist from different countries with no license but they are professional clean and safe they have no license but they have experience a license doesn't mean anything look at all the bad hairdressers in the world that have fried peoples hair okay but they have a license doesn't make them a professional at their job I think they should get rid of it because stateboard robs stylist and owners and they fine you for the dumbest f***ing things oh ur license isn't displayed 100$ oh ur wearing open toe shoes fine, oh there's ONE HAIR IN UR BRUSH that's a fine it's like really? So I think they need to go or ease up on their regulations because their too strict

  4. Exciting times in Carmel.

  5. Twenty years ago when we moved to Indy I was a stay at home mom and knew not very many people.WIBC was my family and friends for the most part. It was informative, civil, and humerous with Dave the KING. Terri, Jeff, Stever, Big Joe, Matt, Pat and Crumie. I loved them all, and they seemed to love each other. I didn't mind Greg Garrison, but I was not a Rush fan. NOW I can't stand Chicks and all their giggly opinions. Tony Katz is to abrasive that early in the morning(or really any time). I will tune in on Saturday morning for the usual fun and priceless information from Pat and Crumie, mornings it will be 90.1

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