
Simon estate gift creates ‘potentially tough situation’ for small foundation
The Great American Songbook Foundation now has the expensive responsibility of maintaining the 107-acre Asherwood, including paying a nine-person maintenance staff.
The Great American Songbook Foundation now has the expensive responsibility of maintaining the 107-acre Asherwood, including paying a nine-person maintenance staff.
The residential redevelopment of the sprawling Simon estate on Ditch Road known as Asherwood that local homebuilder Paul Estridge Jr. announced late last year might not happen after all.
The spat stems from a dispute over whether Mel Simon's sale of his half of the Indiana Pacers to his brother Herb months before Mel's death in 2009 was an arm's-length transaction.
Despite the layoffs and the loss of several major contracts at the east-side manufacturing plant, Adidas officials say they intend to continue operating and investing in the facility.
CIB attorneys had sought to block the IRS from deposing former presidents Pat Early, Bob Grand and Ann Lathrop in a legal dispute stemming from a 2009 deal that transferred full ownership of the Indiana Pacers to Herb Simon.
Three former presidents of the city’s Capital Improvement Board—Pat Early, Bob Grand and Ann Lathrop—are fighting an effort by attorneys for the IRS to depose them about what they learned about the Indiana Pacers' finances during discussions with the team.
Emails appear to buttress the IRS’ case that Herb Simon received a sweetheart deal when he acquired his ailing brother Mel’s 50 percent ownership in the Indiana Pacers in early 2009.
Homebuilder Paul Estridge Jr. has been in discussions about acquiring the sprawling 106-acre property on Ditch Road, according to a source familiar with the deal.
The legal fallout stemming from Melvin Simon’s decision to unload his half of the Indiana Pacers to his brother Herb just a few months before his September 2009 death is getting crazier by the day.
Eliz Kraft rose from adversity to work alongside kings of retail real estate.
The east-side apparel factory could lose about one-fourth of its business when its NBA contract expires in 2017, industry experts said. But Adidas officials are confident there will be no layoffs to the local staff of 1,100.
The Indiana University Simon Cancer Center appears ill-suited for the future of cancer care and its own future is in question.
Bren Simon claims she is owed a tax refund related to $83 million in contributions her late husband made to the Indiana Pacers to save the team from ruin after the infamous 2004 brawl against the Detroit Pistons.
If prior sales of expensive one-of-a-kind homes are any guide, the Carmel estate owned by Bren Simon will be difficult to sell for anything near its asking price of $25 million.
The 106-acre property includes a 50,000-square-foot mansion and private, 18-hole golf course. Mel Simon and his wife, Bren, had been working on disposing of the home even before the billionaire’s death in September 2009.
The city’s Capital Improvement Board on Monday afternoon unanimously approved a $160 million, 10-year finance package to the Indiana Pacers for the operations of Bankers Life Fieldhouse.
It’s hard to overstate the importance of generous benefactors to the quality of life of this region.
The contribution from the daughter of Simon Property Group co-founder Mel Simon is one of the largest gifts ever made to an independent school in the United States.
In April, Jonathan Bender launched a company based on a device he invented to help others avoid the knee troubles that put an end to his promising NBA career. Already, he’s brokered a deal with California-based Relax The Back retail chain.
Politics and real estate helped round out 2012’s news of note.