Public Companies

WellPoint expects loss of 400,000 insured members this year

March 17, 2010
 IBJ Staff and Bloomberg News
Indianapolis-based health insurer expects revenue, profit to fall as persistently high unemployment reduces employer-sponsored insurance enrollment.
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Noble Roman's boosts profit in 2009

March 17, 2010
 IBJ Staff
Indianapolis-based Noble Roman's Inc. improved its bottom line in 2009, reporting a $1.7 million profit despite revenue that dropped 16 percent to $7.5 million.
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Cummins expects profit to grow 10 percent a year

March 16, 2010
Bloomberg News
Columbus-based Cummins Inc., North America’s largest maker of heavy-duty diesel truck engines, expects pretax profit to increase 10 percent a year and sales to grow 13 percent annually over the next five years.
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Simon, rival seek foreign investors to back General Growth bid

March 15, 2010
 IBJ Staff
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial Times of London.
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ITT Educational awards top managers substantial raises

March 10, 2010
Peter Schnitzler
The Carmel-based for-profit educator paid CEO Kevin M. Modany $7.6 million in total compensation last year, a 63-percent increase over 2008. And the rest of his management team all enjoyed pay increases of 45 percent or more.
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Simon Property CEO uses hard-nosed style to excel at acquisitions

March 6, 2010
Cory Schouten
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property Group Inc. into the nation's largest mall owner—is trying to land his biggest deal yet.
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Market surge doesn't lift Lilly EndowmentRestricted Content

March 6, 2010
Kathleen McLaughlin
Lilly Endowment's resistance to diversify its holdings reached a new height last year, as it failed to sell a single share of the underperforming Eli Lilly and Co. stock while the broader market surged.
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PROXY CORNER: Hurco Cos. Inc.

March 6, 2010
 IBJ Staff
Hurco Cos. Inc. designs and produces interactive computer controls, software and computerized machine systems for the worldwide metal-cutting and metal-forming industry.
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Three Indiana companies among world's most admired

March 5, 2010
Brightpoint, WellPoint and Cummins are recognized by Fortune magazine as being among the best in their industries.
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Creditors: General Growth biased toward Brookfield proposal

March 3, 2010
Bloomberg News
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property Group also has bid to acquire the bankrupt company.
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Lilly to shift more employees to Covance

February 26, 2010
J.K. Wall
Greenfield Labs operation expects to add 17 Eli Lilly and Co. workers after taking over staff of 264 in 2008 acquisition.
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Conseco shares fall after dip in fourth-quarter profits

February 26, 2010
J.K. Wall
Carmel-based insurer swings to a profit, but earnings from operations decline.
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Adesa parent turns profit, beats expectations

February 26, 2010
Scott Olson
KAR Auction Services reported a profit of $5.3 million in the fourth quarter after sustaining a loss in the same period in 2008. The company's CEO attributed the turnaround to several factors, including the completion of an initial public offering.
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General Growth plans to split in two to exit bankruptcy

February 24, 2010
Bloomberg News
General Growth Properties Inc. plans to split in two to exit bankrupty and will receive $2.63 billion in capital from Brookfield Asset Management Inc
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Simon's $10 billion bid for bankrupt General Growth roils retailingRestricted Content

February 20, 2010
Cory Schouten
Simon Property Group Inc. already is known for playing hardball with mall tenants over rent. So national retailers like The Gap Inc. and Limited Brands Inc. will be bracing for future lease negotiations if the nation's largest mall owner succeeds in a $10 billion bid to take over its nearest rival, the bankrupt General Growth Properties Inc.
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PROXY CORNER: Hill-Rom Holdings Inc.

February 20, 2010
 IBJ Staff
Hill-Rom Holdings Inc. produces hospital beds, mattresses, stretchers, furniture and hospital information-technology systems.
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Lilly asks shareholders to lower takeover barrier

February 20, 2010
J.K. Wall
Eli Lilly and Co. directors have recommended that shareholders toss out the drugmaker's most potent protection against unwanted takeovers: an 80-percent supermajority vote threshold for any shareholder mutiny to succeed.
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General Growth board sued for rejecting $10B Simon bid

February 20, 2010
Bloomberg News
Directors at Chicago-based General Growth Properties Inc. are being sued by a shareholder claiming they shouldn’t have rejected a $10 billion buyout offer from competitor Simon Property Group Inc.
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WellPoint hits bottom with customers

February 17, 2010
J.K. Wall
Even before WellPoint dissatisfied President Obama over its rate increases in California, it wasn't doing so hot satisfying its actual customers, according to the American Customer Satisfaction Index.
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General Growth snubs initial offer from rival Simon

February 17, 2010
Cory Schouten
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
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Simon making $10B bet on future of malls

February 16, 2010
Cory Schouten
Wall Street today is cheering Simon Property Group Inc.'s giant bet on the future of retail real estate, a sector that appeared left for dead just months ago. The nation's largest mall owner has offered $10 billion to take over its nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
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Simon offers $10 billion for General Growth

February 16, 2010
 IBJ Staff and Associated Press
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation's largest mall operator.
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Republic stock falls following departure of Frontier execRestricted Content

February 13, 2010
Chris O'Malley
CEO Bryan Bedford remains at the helm, but shares of Republic Airways have fallen nearly 30 percent following the departure of an executive deemed key to the operation of the regional airline’s first two branded carriers, Frontier Airlines and Midwest Airlines.
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HHGregg's faster growth boosts risk, potential rewardsRestricted Content

February 13, 2010
Greg Andrews
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly that number within the next year.
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Could WellPoint woes breathe life into health reform?

February 12, 2010
J.K. Wall
The firestorm created this week by Indianapolis-based health insurer WellPoint's spike in premiums could resurrect some parts of the languishing health reform bills.
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  1. Why not take some time to do some research before traveling to that Indiana town or city, and find the ones that are no smoking either inside, or have a patio? People like yourself are just being selfish, and unnecessarily trying to take away all indoor venues that smokers can enjoy themselves at. Last time I checked, it is still a free country, and businesses do respond to market pressure and will ban smoking, if there's enough demand by customers for it(i.e. Linebacker Lounge in South Bend, and Rack and Helen's in New Haven, IN, outside of Fort Wayne). Indiana law already unnecessarily forced restaurants with a bar area to be no smoking, so why not support those restaurants that were forced to ban smoking against their will? Also, I'm always surprised at the number of bars that chose to ban smoking on their own, in non-ban parts of Indiana I'll sometimes travel into. Whiting, IN(just southeast of Chicago) has at least a few bars that went no smoking on their own accord, and despite no selfish government ban forcing those bars to make that move against their will! I'd much rather have a balance of both smoking and non-smoking bars, rather than a complete bar smoking ban that'll only force more bars to close their doors. And besides IMO, there are much worser things to worry about, than cigarette smoke inside a bar. If you feel a bar is too smoky, then simply walk out and take your business to a different bar!

  2. As other states are realizing the harm in jailing offenders of marijuana...Indiana steps backwards into the script of Reefer Madness. Well...you guys voted for your Gov...up to you to vote him out. Signed, Citizen of Florida...the next state to have medical marijuana.

  3. It's empowering for this niche community to know that they have an advocate on their side in case things go awry. http://www.youtube.com/watch?v=Lrst9VXVKfE

  4. Apparently the settlement over Angie's List "bundling" charges hasn't stopped the practice! My membership is up for renewal, and I'm on my third email trying to get a "basic" membership rather than the "bundled" version they're trying to charge me for. Frustrating!!

  5. Well....as a vendor to both of these builders I guess I have the right to comment. Davis closed his doors with integrity.He paid me every penny he owed me. Estridge,STILL owes me thousands and thousands of dollars. The last few years of my life have been spent working 2 jobs, paying off the suppliers I used to work on Estridge jobs and just struggling to survive. Shame on you Paul...and shame on you IBJ! Maybe you should have contacted the hundreds of vendors that Paul stiffed. I'm sure your "rises from the ashes" spin on reporting would have contained true stories of real people who have struggled to find work and pay of their debts (something that Paul didn't even attempt to do).

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