News & Analysis

UPDATE: Simon shares climb after profit beats estimates

February 5, 2010
Bloomberg News
The company raised its average rent per square foot at both regional malls and outlet centers even as U.S. consumer spending flagged.
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Businesses walk fine line when supporting Colts

February 5, 2010
Scott Olson
As Super Bowl approaches, companies unaffiliated with the Colts avoid becoming victims of the NFL's strict trademark-enforcement policies by supporting the team in generic fashion.
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Hoosier Motor Club closing call center, cutting 61 jobs

February 5, 2010
Scott Olson
The AAA Hoosier Motor Club is closing its call center on Guion Road and consolidating operations with five other clubs.
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Simon Property's quarterly profit tumbles

February 5, 2010
Bloomberg News
Quarterly revenue remained flat at about $1 billion, but profit fell 41 percent, from $196.4 million to $115.9 million.
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National unemployment rate drops to 9.7 percent

February 5, 2010
Associated Press
January's report offers hope that employers may start adding jobs soon. Excluding the beleaguered construction industry, the private sector as a whole added 63,000 positions.
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Ex-Indiana player Leary arrested in fraud case

February 5, 2010
Associated Press
The 39-year-old Leary was being held Friday in the Monroe County Jail in Bloomington on charges out of Allen County.
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Simon, partner selling European malls for $981M

February 5, 2010
Bloomberg News
Unibail-Rodamco SE, Europe's biggest shopping-center owner, has agreed to pay Simon Property Group and Ivanhoe Cambridge Inc. $981 million for stakes in seven malls in France and Poland.
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Sources: NCAA talking to CBS, Turner Sports about hoops deal

February 5, 2010
Anthony Schoettle
CBS and Turner Sports are discussing a joint bid for the broadcast rights to the NCAA men's basketball tournament rights if the NCAA decides to opt out of its current deal.
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Harrison College names new president

February 5, 2010
J.K. Wall
Son of long-time president set to lead Indianapolis for-profit, adult-centered school during historic growth phase.
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Fair Finance investors file motion for receiver to control assets

February 4, 2010
Greg Andrews
The motion filed in an Ohio court is aimed at preventing funds from disappearing while investigations continue.
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Republic Airways to shut down Lynx Aviation

February 4, 2010
Associated Press
Indianapolis-based Republic Airways Holdings Inc. will shut down Lynx Aviation, a regional flying unit that operates Bombardier Q400 propeller planes. The changes will mean 175 people will lose their jobs.
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Mississippi settles Zyprexa suit against Lilly for over $18M

February 4, 2010
Associated Press
Mississippi will receive $18.5 million from Indianapolis-based drugmaker Eli Lilly and Co. as part of a settlement over claims the company promoted the anti-psychotic Zyprexa for ailments it was not federally approved to treat.
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Prominent local car dealer Tom Wood dies

February 4, 2010
Indianapolis car dealer Tom Wood died Thursday morning after battling lung cancer. Wood grew his business from a single dealership he purchased in 1967.
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City lists former Winona Hospital for sale

February 4, 2010
Peter Schnitzler
Indianapolis' Metropolitan Development Commission sets $667,500 minimum price for the long-vacant property at Meridian and 32nd Streets.
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Indiana politicians consider Super Bowl ticket offer

February 4, 2010
Kathleen McLaughlin
The big question for many politicians isn't about ethics. Rather, it's whether to shell out $800 per ticket, plus hotel costs and airfare.
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Movie Gallery files second bankruptcy in two years

February 4, 2010
Bloomberg News
The second-largest company in the movie-rental business behind Blockbuster Inc. is immediately closing 760 locations. The chain operates 14 stores in central Indiana, according to its Web site.
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Baldwin & Lyons swings to a fourth-quarter profit

February 4, 2010
J.K. Wall
Indianapolis-based trucking fleet insurer benefits from investment gains after large losses the previous year.
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Logistics firm closing in Plainfield, leaving 126 jobless

February 4, 2010
NAL Worldwide, which provides third-party logistics and supply-chain services, plans to close its Plainfield location March 31.
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Hill-Rom profit up 40 percent

February 4, 2010
J.K. Wall
Batesville maker of hospital equipment meets analysts' expectations, then raises full-year profit forecast.
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HHGregg's profit, sales rise

February 4, 2010
HHGregg's profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store sales. The opening of 19 stores helped offset the decrease.
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Brightpoint profit up despite declining revenue

February 4, 2010
 IBJ Staff
Wireless device distributor Brightpoint Inc. saw revenue decline in the fourth quarter, but the Indianapolis-based company still managed to bounce back from $346 million year-ago loss with an $18.3 million quarterly profit.
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UPDATE: Glasscock retirement marks WellPoint's maturation

February 3, 2010
J.K. Wall
Larry Glasscock will step down March 1 as WellPoint CEO Angela Braly takes over leadership of the company's board. She replaced Glasscock as CEO on June 1, 2007.
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Key business issues clear mid-session hurdle

February 3, 2010
Kathleen McLaughlin
The first half of a short session will close Wednesday, meaning bills must have passed out of either the House or Senate to stay alive. Legislation regarding unemployment taxes and township-government reform easily met that deadline.
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Super Bowl legacy project taking shape on east side

February 3, 2010
Scott Olson
A revitalization project that helped Indianapolis land the 2012 Super Bowl is beginning to take shape. Organizers hope to build and rehab about 300 housing units, including the Jefferson Apartments "homeownership incubator."
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PNC to pay back bailout money, sell division

February 3, 2010
 IBJ Staff and Associated Press
PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.
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