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Indiana firms lose ground on Fortune 500 list

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Indiana has again placed six firms in the Fortune 500 list of largest U.S. companies, but the competition pushed most of them further back in the pack this year.

Indianapolis-based health insurer WellPoint Inc. led the Hoosier delegation, placing 47th on the 2013 list with $61.7 billion in revenue for its latest fiscal year. That’s down slightly from 45th, in 2012.

Wal-Mart Stores Inc. topped the 2013 Fortune 500 with $469.2 billion in revenue. Fortune magazine on Monday released the list, which bases its rankings on revenue.

The 2013 list retains five of the six firms that appeared in 2012. Indianapolis pharmaceutical giant Eli Lilly and Co., which posted revenue of $22.6 billion, dropped in the rankings from 119th in 2012 to 130th this year. Columbus-based engine-maker Cummins Inc., which reported revenue of $17.3 billion, slipped to 160th from 150th in 2012.

Steel Dynamics Inc. of Fort Wayne descended from 323rd in 2012 to 354th this year, on revenue of $7.3 billion. Merrillville-based utility NiSource Inc. fell from 409th to 480th, with $5.1 billion in revenue.

Simon Property Group Inc. was Indiana’s one rising star in the top 500 this year, sneaking onto the list at 497th after placing 543rd in 2012. A retail-based real estate investment trust, Simon collected $4.9 billion in revenue for its most recent fiscal year.

Last year marked the return of Indianapolis-based BrightPoint Inc. to the list, as the firm rose to 463rd for its first appearance since 2009. BrightPoint was acquired in October by California-based Ingram Micro Inc. , which placed 76th on this year’s list with revenue of $37.8 billion.
 

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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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