Public Companies

Cummins recalling more workers to Indiana engine plant

October 7, 2009
Andrea Muirragui Davis
Enginemaker Cummins Inc. is temporarily adding a second production shift at its MidRange Engine Plant south of Columbus, recalling as many as 270 workers who had been laid off or transferred to other facilities when it was idled in May.
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PROXY CORNER: Arcadia Resources Inc.

October 3, 2009
 IBJ Staff
Arcadia Resources Inc. markets and sells surgical supplies, orthotic and prosthetic products, and durable medical equipment, such as wheelchairs and hospital beds and provides oxygen and other respiratory therapy services and equipment.
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Finish Line shares rise despite quarterly loss

September 25, 2009
Cory Schouten
Shares in locally based athletic retailer The Finish Line Inc. jumped Friday morning after the company reported a narrow loss for the second fiscal quarter, mostly because of the large cost of unloading its unsuccessful Man Alive stores in July.
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Old National prices offering at $10 per share

September 23, 2009
Scott Olson
Evansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company stock at $10 per share.
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Old National selling stock to fund potential purchases

September 21, 2009
Scott Olson
Evansville-based Old National Bancorp said this morning that it is selling $150 million of its stock in a public offering and will use some of the proceeds to fund potential acquisitions.
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PROXY CORNER: CFS Bancorp Inc.

September 19, 2009
 IBJ Staff
CFS Bancorp Inc., 707 Ridge Road., Munster, 46321 (www.cfsbancorp.com) is the bank holding company for Citizens Financial Bank, which conducts business from full service branches located in Lake, Porter and LaPorte counties in Indiana and Cook, DuPage and Will counties in Illinois.
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UPDATE: Simon remembered for vision, courage

September 16, 2009
Cory Schouten
A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic cancer.
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'Community icon' Melvin Simon dies

September 16, 2009
Cory Schouten
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
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UPDATE: Pipeline challenges force Lilly restructuring moves

September 14, 2009
J.K. Wall
Since John Lechleiter was named CEO 18 months ago, he's bet that Eli Lilly and Co. could face down its looming patent challenges by launching innovative new medicines. Today's announcement of 5,500 job cuts by the end of 2011 and a restructuring of the company's business units ups the ante on that bet, while indicating that it isn't working yet.
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Lilly reorganization to cut 5,500 positions over 2 years

September 14, 2009
J.K. Wall
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central Indiana. But with 13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
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WellPoint insiders sell stock at right time

September 12, 2009
 IBJ Staff
Take the money while it’s there. That’s what a handful of insiders at WellPoint Inc. decided in the past month as they sold off nearly 150,000 company shares for gains of more than $3 million.
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PROXY CORNER: Monroe Bancorp

September 5, 2009
 IBJ Staff
Monroe Bancorp, 210 E. Kirkwood Ave., Bloomington, 47408 (www.monroecountybank.com) is the holding company for Monroe Bank, which provides consumer and commercial banking services and related financial services in Monroe, Hendricks, Lawrence and Jackson counties.
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Conseco consolidation to save $2.5M a year

August 31, 2009
 IBJ Staff
Conseco Inc. this morning said it is consolidating three of its insurers into one, a move that will have no impact on employment but will save the company about $2.5 million annually.
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Hurco suffers quarterly loss as sales plummet

August 28, 2009
 IBJ Staff
Indianapolis-based Hurco Cos. this morning reported another quarterly loss after sales dropped a staggering 64 percent. Hurco lost $1.2 million, or 19 cents a share, in its fiscal third quarter ended July 31. The company had a profit of $5.8 million, or 90 cents a share, during the same quarter last year.
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Steak n Shake chief snaps up more shares

August 27, 2009
Cory Schouten
Steak n Shake Co. CEO Sardar Biglari revealed in regulatory filings this week that he spent $1.1 million buying shares in the locally based burger chain, an apparent vote of confidence in his own turnaround plans.
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Shoe Carnival's profit flat in second quarter

August 27, 2009
 IBJ Staff
Evansville-based Shoe Carnival Inc. today reported flat profit and declining same-stores sales in its fiscal second quarter.
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Biglari consolidates power, as Steak n Shake reboundsRestricted Content

August 24, 2009
Greg Andrews
The Texas investor running the chain doesn't seem like such a champion of transparency these days.

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Furniture maker trims losses in second quarter

August 19, 2009
 IBJ Staff
West Lafayette furniture maker Chromcraft Revington Inc. narrowed its losses in the second quarter by shedding unprofitable products, closing plants and reducing expenses, the company said yesterday.
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Lilly drops osteoporosis pipeline drug

August 18, 2009
J.K. Wall
Eli Lilly and Co. pulled the plug on yet another drug in its pipeline that was in the late stages of testing, further complicating the company’s attempts to find revenue before losing patent protection on its bestseller.
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Lilly pays $224,000 to area doctors

August 17, 2009
 IBJ Staff
It’s no secret that Eli Lilly and Co. is the biggest private employer in the Indianapolis area. But Lilly also supplemented the incomes of a few dozen local doctors — to the tune of more than $224,000 in just the first quarter.
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Steak n Shake posts profit, rise in customer traffic

August 11, 2009
Scott Olson
Steak n Shake Co. late yesterday reported strong profit and big increases in customer traffic and same-store sales for its fiscal third quarter, which ended July 1.
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High-ranking WellPoint exec stepping down

August 11, 2009
J.K. Wall
WellPoint Inc.'s internal audit and chief compliance officer - and highest-ranking black executive - will leave the company later this month, according to a companywide e-mail sent out yesterday.
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Celadon manages profit amid tough conditions

August 11, 2009
 IBJ Staff
Indianapolis-based Celadon Inc. said yesterday that it eked out a small profit in its fiscal fourth quarter, as the struggling economy continues to batter the trucking industry.
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Noble Roman's profit up, revenue down

August 11, 2009
 IBJ Staff
Noble Roman’s Inc. late yesterday reported a larger profit in the second quarter, primarily due to its continuing efforts to cut expenses by replacing company-owned restaurants with franchises.
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Large HHGregg investor ups stake, surprising analystsRestricted Content

August 10, 2009
Greg Andrews
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a huge bet that the good times are only beginning.
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