Public Companies

Rival's strong results have WellPoint playing catch-up

August 25, 2012
J.K. Wall
UnitedHealth has been enjoying healthy profits, growing customer rolls and a rising stock price—things the Indianapolis insurer has been unable to match. That tough comparison lies behind some of the investor attacks on WellPoint CEO Angela Braly.
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WellPoint dragged into Goldman Sachs suit

August 20, 2012
J.K. Wall
WellPoint Inc.’s $4.9 billion offer for Virginia-based Amerigroup Inc. apparently wasn’t the only—or even the most lucrative—offer for the Medicaid managed care company. But it was the deal surest to come to fruition before a key deadline for a big payout for Goldman Sachs & Co., according to a shareholder lawsuit filed Aug. 16 against the Amerigroup board of directors.
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Cummins cools off, but Seymour expansion still in worksRestricted Content

August 18, 2012
Dan Human
Cummins Inc.—a company that quadrupled its profits in two years—has shifted to cost-cutting mode amid a drop in global sales, but the Columbus-based engine manufacturer says it’s still on track to increase sales from $18 billion in 2011 to $30 billion in 2015.
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Steak n Shake customer traffic up in latest quarter

August 14, 2012
Biglari Holdings Inc., parent of Steak n Shake, said Friday that customer traffic to the restaurant chain grew 2.2 percent during the quarter ended July 4, boosting same-store sales 2.9 percent.
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New student-loan effort adding to ITT backlashRestricted Content

August 11, 2012
Greg Andrews
For-profit school operator ITT Educational Services Inc. told investors late last month that it had worked out a tentative deal with an outside party that would provide $100 million in loans to its students.
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Alzheimer's quest puts Lilly to test

August 11, 2012
J.K. Wall
Odds are long that Eli Lilly and Co.'s leading Alzheimer's drug will show positive results when its Phase 3 trial results are released within a few weeks, but even the smallest improvement in the cognitive impairment of test patients would be a home run for Lilly.
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Simon Property directors sued over CEO’s pay

August 8, 2012
Bloomberg News
The board of the largest U.S. shopping-mall owner wrongfully authorized a compensation package for CEO David Simon that included $120 million in special stock awards, a Louisiana pension fund claimed in the lawsuit filed Wednesday.
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Some banks beginning to raise dividendsRestricted Content

August 4, 2012
Scott Olson
Some of the most telling signs that banks finally may be recovering from the economic downturn are their decisions to begin increasing dividends.
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Baldwin & Lyons sees quarterly profit on fewer disasters

August 2, 2012
 IBJ Staff
Indianapolis-based Baldwin & Lyons Inc. on Thursday reported a profitable second quarter, a year after a series of major natural catastrophes caused a big loss for the transportation industry insurer.
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HHGregg posts quarterly loss on poor TV sales, as expected

August 2, 2012
Scott Olson
Disappointing sales at stores open at least a year dragged Indianapolis-based HHGregg Inc. to a rare quarterly loss, the appliance and electronics retail chain said on Thursday.
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Emmis shareholders fight bylaw changes on dividends

July 31, 2012
 IBJ Staff and Bloomberg News
Investors asked U.S. District Judge Sarah Evans Barker in Indianapolis for an order blocking a special meeting at which Emmis shareholders will be asked to approve bylaw changes wiping out more than $34 million in accrued and unpaid preferred stock dividends.
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Lilly braces for decline in Europe

July 30, 2012
J.K. Wall
Austerity and upheaval in Europe have not hurt Eli Lilly and Co.’s $4 billion-a-year drug business there, but the company is moving forward with plans to survive a coming swoon anyway.
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BrightPoint merger talks driven by 'deal certainty'Restricted Content

July 28, 2012
Greg Andrews
When BrightPoint officials saw conditions in the cell phone distribution business take a turn for the worse, they were quick to cash out while the going was still good.
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Angie's List shares plunge after wider quarterly loss

July 26, 2012
 IBJ Staff
Angie's List Inc. saw revenue jump 74 percent in the second quarter, but the Indianapolis-based contractor-ratings service continued to see growing losses as the result of higher marketing expenses. The company's stock fell more than 10 percent Thursday.
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HHGregg setbacks reflect deeper woes, some fear

July 21, 2012
Greg Andrews
Retailer's operating income is the same as five years ago, even though it has triple the number of stores.
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PROXY CORNER: The Finish Line Inc.

July 21, 2012
The Finish Line Inc., 3308 N. Mitthoeffer Road, Indianapolis, www.finishline.com, is a specialty retailer of brand-name athletic and leisure footwear, activewear and accessories.
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BrightPoint settles two suits against rival Brightstar

July 13, 2012
Scott Olson
Both lawsuits involved former BrightPoint executives hired by Brightstar who had access to the local firm’s innermost workings and strategies. The suits, filed in Marion Superior Court, were dismissed Wednesday.
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Quarterly profit, revenue slides at Emmis

July 12, 2012
The Indianapolis-based media company reported a larger loss on falling revenue in its fiscal first quarter, mostly due to the sale of a group of radio stations and cheaper advertising rates.
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Bioanalytical taps accountant for turnaround

July 9, 2012
J.K. Wall
With spending running well ahead of revenue, West Lafayette-based Bioanalytical Systems Inc. ousts its CEO in favor of its CFO.
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BrightPoint's $840M sale ends wild ride for CEO LaikinRestricted Content

July 7, 2012
Greg Andrews
Bob Laikin started BrightPoint in 1989, when cellular phones were clunky and brick-like and were mostly for the wealthy.
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Heartland Bancshares approves acquisition by HorizonRestricted Content

July 7, 2012
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
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Lawsuit: Smulyan angling for Emmis buyoutRestricted Content

June 30, 2012
Greg Andrews
Jeff Smulyan has been considering a new plan to buy out other Emmis Communications Corp. shareholders—a deal that could clear the way for him to finally take the Indianapolis media company private. But Emmis’ founder and CEO insists he has no plans to do so.
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PROXY CORNER: Vera Bradley Inc.

June 23, 2012
Vera Bradley Inc., 2208 Production Road, Fort Wayne, Ind., 46808, sells handbags, accessories, paper-and-gift items and travel items through 55 retail stores, nine outlet stores, 3,300 specialty stores and through verabradley.com.
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Lilly resumes $3B stock buyback program, declares dividend

June 19, 2012
Associated Press
The local pharmaceutical giant plans to complete the program started in 2000 by repurchasing $420 million in shares by the end of the year. And on Tuesday, it declared a regular dividend of 49 cents.
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WellPoint lowers earnings forecast after $90M legal bill

June 18, 2012
Bloomberg News
Indianapolis-based WellPoint Inc. said it is lowering its profit forecast for the year by 3 percent after reaching a $90 million settlement in a class-action lawsuit.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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