Public Companies

WellPoint settlement: $90M for former Anthem members

June 15, 2012
Scott Olson
The federal lawsuit was set to go to trial June 18 in Indianapolis. The claims arise from Anthem's 2001 conversion from a mutual company, owned by its insured policyholders, to a public company.
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Lilly sinks $20M into Chinese firm for 'branded generic' drugs

June 12, 2012
J.K. Wall
Eli Lilly and Co. has invested $20 million in Chinese pharmaceutical company Novast Labs in an effort to build up a portfolio of branded generic medicines in the fast-growing Asian market.
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Fortune buyout would help exec out of financial jamRestricted Content

June 9, 2012
Greg Andrews
Sale to managers would alleviate problems for company's 70-year-old namesake and keep firm from being seized by bank.
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PROXY CORNER: Emmis Communications Corp.

June 9, 2012
Emmis Communications Corp., One Emmis Plaza, 40 Monument Circle, Suite 700, Indianapolis, IN 46204 (www.emmis.com), is a media company that owns radio stations and magazines.
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SPECIAL REPORT: Stock-based pay builds wealth for Indiana execsRestricted Content

June 2, 2012
Greg Andrews
IBJ's annual review of proxy statements for Indiana public companies found senior executives' median compensation rose 14 percent in 2011. But that analysis uses the fair market value of stock and options awards on the date they were granted. If a company's stock price surges, executives can make out far better. (with searchable database)
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BASI promises 'never again' after big losses

May 29, 2012
J.K. Wall
Bioanalytical Systems Inc.’s new CFO won praise this month for laying out an aggressive cost-cutting plan—but not before the rest of the company’s leaders got a tongue lashing for their past performance.
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Activists plan to protest WellPoint political giving at meeting

May 15, 2012
J.K. Wall
A mix of union groups, activist investors and single-payer advocates will call for increased disclosure from WellPoint, and some investment funds will vote against WellPoint board members who they say have failed to exercise proper oversight of WellPoint’s political spending.
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Klipsch helps parent firm double cash flow

May 15, 2012
J.K. Wall
Indianapolis-based speaker maker now owned by Voxx International posted year-end sales of $169.5 million, which appeared to be flat compared with prior periods.
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First-quarter profit, revenue flat for Noble Roman’s

May 15, 2012
The pizza franchisor earned $365,079 in the quarter ended March 31. But it continues to see more growth from take-n-bake products in grocery stores.
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Lilly: Forget Alzheimer's; think diabetes

May 7, 2012
J.K. Wall
For more than a year, Eli Lilly and Co. has been viewed by investors as a laggard stock with one, slim shot at producing a huge jackpot: its experimental Alzheimer’s drug. But now company leaders are trying to direct investor attention toward the drugmaker’s diabetes portfolio.
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Six Hoosier firms among country’s 500 largest

May 7, 2012
Indianapolis-based WellPoint Inc. topped the list of Indiana companies, ranking 45th. Locally, Eli Lilly and Co. and BrightPoint Inc. also made Fortune magazine's latest annual ranking of the 500 largest corporations based on revenue.
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Growth tear swells Simon Property GroupRestricted Content

May 5, 2012
Cory Schouten
Simon Property Group Inc. this year joined the Standard & Poor’s 100 Index, a listing of the nation’s largest and most established companies including Apple, Coca-Cola and McDonald’s. The Indianapolis-based company is the only real estate company on the list and is now the largest real estate company in the world.
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After years of 'pushing water uphill,' Emmis now nimbleRestricted Content

May 5, 2012
Greg Andrews
The Indianapolis media company is on track to have less than $75 million in debt by this summer—down from $1.6 billion before it launched the divestiture of its TV stations seven years ago.
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Allison earnings rise on surging sales

April 24, 2012
Kathleen McLaughlin
Allison Transmission Holdings Inc. saw profits rise 57 percent, to $58 million, in the first quarter, the Indianapolis-based manufacturer announced Monday. The earnings announcement was Allison’s first since it went public in March.
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SKARBECK: Investors, boards at odds over executive pay, powerRestricted Content

April 21, 2012
Ken Skarbeck
Perhaps now we will see more shareholders oppose excessive pay, putting more pressure on corporate boards to come up with reasonable compensation plans.
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Motley Fool puts Angie's List IPO on its 'toxic' listRestricted Content

April 21, 2012
Investor site pans companies whose stock advanced in spite of years of losses.
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Angie's List COO joining One Click Ventures

April 13, 2012
 IBJ Staff
Scott Brenton, the departing chief operating officer of Indianapolis-based Angie’s List Inc., is joining One Click Ventures LLC in Greenwood.
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Simon CEO lands $137 million in compensation

April 10, 2012
J.K. Wall
David Simon must remain CEO of Indianapolis-based Simon Property Group for at least six years to see any of the $120 million in special stock awards the company’s board of directors awarded him last year, and must stay on eight years to reap the full amount.
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New Lilly drug has small sales potential

April 9, 2012
J.K. Wall
Eli Lilly and Co.’s newest drug is a boon for Alzheimer’s research but is likely to bring the Indianapolis drugmaker less than $100 million in annual sales—at least initially, according to one of the few analysts to make a forecast.
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Bankers Life paying $10M fine following securities probe

April 5, 2012
Cory Schouten
CNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers Life subsidiary acted as an investment adviser and broker-dealer without proper state licensing.
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Compensation dips slightly for WellPoint brass

April 3, 2012
J.K. Wall
Angela Braly, CEO of the Indianapolis-based health insurance company, received total compensation of nearly $13.3 million, down 1.5 percent from the $13.5 million she made the previous year.
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Supreme skepticism boosts WellPoint stock

April 2, 2012
J.K. Wall
Wall Street's favorable reaction came not only because harsh questioning by the U.S. Supreme Court’s conservative justices put in doubt the health reform law’s mandate that all Americans buy health insurance, but also because the justices raised the possibility that they would strike down requirements that insurers accept all customers, regardless of health.
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Wall Street observers blast Emmis plan to ax preferred shares

April 2, 2012
Scott Olson, Cory Schouten
Emmis Communications Corp.'s effort to strip its preferred shareholders of their rights and avoid forking over about $10 million in unpaid dividends is drawing sharp criticism from top market observers, including a columnist for The New York Times.
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Sale of Fortune Industries would take company private

March 30, 2012
Scott Olson
The company is set to be purchased by CEP Inc., a holding company led by Fortune Industries CEO Tena Mayberry and Chief Financial Officer Randy Butler. But several law firms are investigating the sale for potential unfairness on behalf of shareholders.
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State's largest private company plans to go public

March 23, 2012
 IBJ Staff and Bloomberg News
Evansville-based Berry Plastics Group Inc., a container maker owned by funds affiliated with Apollo Global Management LLC, on Friday filed to sell up to $500 million of stock in an initial public offering.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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