Public Companies

Old National profit falls, but beats expectations

July 27, 2009
Scott Olson
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed to exceed analysts’ expectations.
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Banks no longer in critical condition, but full recovery still distantRestricted Content

July 27, 2009
Scott Olson
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly traded banks with a presence in Indianapolis.
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White River Capital calls off First Chicago dealRestricted Content

July 27, 2009
 IBJ Staff
Indianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based First Chicago Bancorp.
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Why ailing Emmis could bounce backRestricted Content

July 20, 2009
Greg Andrews
Let's play the contrarian. For Emmis, that means arguing that the battered company is poised for resurgence, rather than sliding deeper into the abyss.

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Biomet reports loss on special charges

July 15, 2009
 IBJ Staff
Biomet Inc. yesterday reported a $170.9 million loss in its fiscal fourth quarter as the result of more than $300 million in special charges.
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Interactive Intelligence expects higher profit

July 14, 2009
Interactive Intelligence said yesterday it expects a profit of between $1.8 million and $2.5 million in the second quarter, up from $845,000 the company earned in the same period last year.
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Brightpoint's Danish deal not so sweet two years laterRestricted Content

July 13, 2009
Greg Andrews
The cross-continent mega deal that made Brightpoint Inc. the world’s biggest wireless phone distributor has lost much of its sheen two years after being struck. Brightpoint Inc. in August 2007 purchased Denmark-based Dangaard Telecom for $385 million in stock and the assumption of $350 million in Dangaard debt.
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Kite Realty misses out on REIT revivalRestricted Content

July 13, 2009
Cory Schouten
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut dividends, and set the development engine to idle. But as the shares of most publicly traded real estate investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
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Fortune ekes out profit on falling revenue

July 13, 2009
Indianapolis-based Fortune Industries Inc. managed a small profit in its third quarter and now has turned a profit in each of its last three quarters, the company announced this morning.
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Brightpoint shareholder selling shares

July 13, 2009
Scott Olson
Brightpoint Inc. said this morning shareholder NC Telecom Holding A/S would sell 15 million common shares in a public offering.
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Debt maneuvers help Emmis turn quarterly profit

July 10, 2009
 IBJ Staff
Emmis Communications Corp. reported a quarterly profit today after buying back a big chunk of its own debt on the cheap, but the outlook for the company remains grim. The radio broadcaster and magazine publisher saw revenue plunge 27 percent.
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Steak n Shake sales, traffic rise

July 8, 2009
 IBJ Staff
Steak n Shake Co. yesterday reported big increases in customer traffic and same-store sales for its fiscal third quarter, which ended July 1. Customer traffic rose 13.4 percent and same-store sales jumped 5 percent in the quarter compared to the same period a year ago, it said in a brief Securities and Exchange filing.
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HHGregg accelerates store-opening plans

July 8, 2009
Scott Olson
HHGregg Inc. said this morning that the bankruptcy of competitor Circuit City should enable the company to open more stores within the next few years than previously expected.
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If Dow AgroSciences sells, let's hope it's not to a rivalRestricted Content

June 29, 2009
Greg AndrewsMore

Board battle brewing at BioanalyticalRestricted Content

June 29, 2009
 IBJ Staff
West Lafayette-based life sciences contract research firm Bioanalytical Systems Inc. has five directors on its board. If company founder Pete Kissinger has his way, four of them will soon be replaced.
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David Simon named among world's best CEOsRestricted Content

June 29, 2009
 IBJ Staff
The big cheese at Simon Property Group is wedged among the "top gun" executives in the U.S.
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Half of state's public-company CEOs saw pay rise in 2008

June 22, 2009
Peter Schnitzler
For investors, 2008 was the worst year since the Great Depression. Even so, more than half of the state's public-company executives saw the value of their pay packages rise from 2007—despite the fact that only 10 of the companies posted a positive total return in 2008, and 46 companies shed more than one-third of their stock market value.
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VIEWPOINT: CEOs, do you deserve your salaries?Restricted Content

June 22, 2009
John Guy
An exaggerated share of the nation's wealth is paid to CEOs of public companies, their minions and directors, through agreements made inside boardrooms, by highly compensated individuals who commit shareholders' money and are not subject to effective oversight.
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Express Scripts closer to $4.7B WellPoint deal

May 28, 2009
 IBJ Staff and Associated Press
Express Scripts Inc. has cleared an antitrust review for its planned purchase of Indianapolis-based WellPoint Inc.'s pharmacy benefits management business, bringing the $4.7 billion deal closer to completion.
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Activist shareholder makes case against Conseco's boardRestricted Content

May 11, 2009
J.K. Wall
An activist shareholder vying to become a director of Conseco Inc. says the insurance company's board "completely misjudged" the risks it faced when it emerged from bankruptcy in 2003 and hasn't recovered since. Now an independent shareholder advisory firm is siding with him.
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REITs get boost, not scorn, for selling cheap sharesRestricted Content

May 11, 2009
Greg Andrews
Here's more evidence we're in strange times: Indianapolis' real estate investment trusts have been issuing hundreds of millions of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.
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Bioanalytical Systems founder fights to be heardRestricted Content

May 4, 2009
Peter Schnitzler
It took Pete and Candace Kissinger 33 years to build West Lafayette-based Bioanalytical Systems Inc. into one of the largest contract research firms in Indiana's life science sector. It took just a year and a half for them to turn against the company's new management.
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With pharma famine looming, Lilly relying on snack-size dealsRestricted Content

May 4, 2009
J.K. Wall
Compared with some of his pharmaceutical CEO peers these days, John Lechleiter has his company on a diet. Instead of using a mega-merger to bulk up before the famine that patent expirations will bring on the industry next year, Lechleiter has Eli Lilly and Co. burning management fat while looking for smaller companies to munch on.
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Steak n Shake hoping to roll out lower-cost, limited-service storesRestricted Content

May 4, 2009
Cory Schouten
TV spots for Steak n Shake Co. used to play up the chain's full-service restaurants, complete with friendly servers, real plates and glass ketchup bottles—a departure from the "workaraunts" operated by McDonald's and Burger King. Now, Steak n Shake is developing plans for its own workaraunts.
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Dan Laikin on sidelines as others admit guilt in stock-manipulation schemeRestricted Content

April 27, 2009
Greg Andrews
Carmel businessman Dan Laikin finds himself in the awkward spot of denying wrongdoing at the same time the three men accused of conspiring with him in a stock-manipulation scheme are admitting guilt.
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  1. Kent's done a good job of putting together some good guests, intelligence and irreverence without the inane chatter of the other two shows. JMV is unlistenable, mostly because he doesn't do his homework and depends on non-sports stuff to keep HIM interested. Query and Shultz is a bit better, but lack of prep in their show certainly is evident. Sterling obviously workes harder than the other shows. We shall see if there is any way for a third signal with very little successful recent history to make it. I always say you have to give a show two years to grow into what it will become...

  2. Lafayette Square, Washington Square should be turned into office parks with office buildings, conversion, no access to the public at all. They should not be shopping malls and should be under tight security and used for professional offices instead of havens for crime. Their only useage is to do this or tear them down and replace them with high rise office parks with secured parking lots so that the crime in the areas is not allowed in. These are prime properties, but must be reused for other uses, professional office conversions with no loitering and no shopping makes sense, otherwise they have become hangouts long ago for gangs, groups of people who have no intent of spending money, and are only there for trouble and possibly crime, shoplifting, etc. I worked summers at SuperX Drugs in Lafayette Square in the 1970s and even then the shrinkage from shoplifting was 10-15 percent. No sense having shopping malls in these areas, they earn no revenue, attract crime, and are a blight on the city. All malls that are not of use should be repurposed or torn down by the city, condemned. One possibility would be to repourpose them as inside college campuses or as community centers, but then again, if the community is high crime, why bother.

  3. Straight No Chaser

  4. Seems the biggest use of TIF is for pet projects that improve Quality Of Life, allegedly, but they ignore other QOL issues that are of a more important and urgent nature. Keep it transparent and try not to get in ready, fire, Aim! mode. You do realize that business the Mayor said might be interested is probably going to want TIF too?

  5. Gary, I'm in complete agreement. The private entity should be required to pay IPL, and, if City parking meters are involved, the parking meter company. I was just pointing out how the poorly-structured parking meter deal affected the car share deal.

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