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Melvin Simon estate collects $944M from share sale

Simon Property Group Inc. has settled a dispute with the estate of its late founder Melvin Simon, converting his ownership units into common shares and selling them for $944 million.

VON DEYLEN: Stay the path toward revitalized Fountain Square

What most people consider Fountain Square is actually a combination of three neighborhoods: Fountain Square, Fletcher Place and Holy Rosary. In 2005, I started working on my first project in this area, and it has changed the direction of my professional path in just about every way possible.

Ten drugmakers team up to improve testing process

Pharmaceutical industry heavyweights, including Eli Lilly and Co., are teaming up to improve the way experimental drugs are tested so they can get approved, and reach patients, faster.

IBJ Commercial Real Estate Power Breakfast – transcript

A panel conversation with Katie Culp, senior managing director, principal, Cassidy Turley; Mike Higbee, president, DC Development Group; Christie B. Kelley, chief financial officer, executive vice president, Duke Realty Philip; G. Kenney, president, F.A. Wilhelm Construction Co.; Thomas K. McGowan, president and chief operating officer, Kite Realty Group; and Tadd M. Miller, CEO, Milhaus Development LLC.

Fire that damaged 2 homes ruled arson

Investigators say a large fire that damaged two houses on the southwest side of Indianapolis late Monday night was intentionally set. Police have identified two possible suspects in connection with the fire in the 2200 block of West Morris Street. The fire caused an estimated $55,000 in damage to a vacant house and $20,000 in damage to a home next door. No injuries were reported.

Police arrest 13 in prostitution bust

Police have arrested 13 individuals on prostitution-related charges after an investigation into Asian massage parlors in Indianapolis, Plainfield, Shelbyville and Greensburg. Police said the operation included undercover work and coordination among several law-enforcement agencies. The charges include prostitution, promoting prostitution, patronizing a prostitute and corrupt business influence. Police also seized more than $115,000 in cash.

Charges filed against gang members

Marion County Prosecutor Terry Curry said Wednesday that he is filing multiple charges against more than a dozen members of two competing south-side Indianapolis gangs, the “Problem Child Gang” and “Fountain Square Boyz.” Charges range from criminal gang activity to battery and corrupt business influence. Investigators said the gangs are behind a series of crimes, including robberies, drug sales, graffiti and gun crimes. Many of the gang members are juveniles.

Indiana ethanol plant resumes operations

Valero Energy Corp., the third-largest U.S. ethanol producer, has restarted distilleries in Nebraska and Indiana, as profit margins for the fuel improved.

State’s largest private company on verge of IPO

Berry Plastics Group Inc., the largest private company in Indiana, may set terms for its initial public offering as soon as this week, said two people with knowledge of the matter.

Basketball legend Robertson target of bank’s lawsuit

Oscar Robertson’s money troubles in Ohio have been well documented lately. But in his hometown of Indianapolis, he’s trying to convince a judge that he’s not responsible for a $203,000 bank loan.

Also this week

Earth, Wind and Fire performs Sept. 26 at the Murat. Details here. 

Lotus Fest, Bloomington’s annual arts celebration, includes performances by Richard Thompson, Chris Smither, Ben Sollee, Dehli 2 Dublin, Global Rhythms and much more at various locations Sept. 20-23. Details here.  

Visual artists and writers are challenged to create new work in a limited time for Masterpiece in a Day in Fountain Square. The competition, along with the Fountain Square Art Fair and Art Parade, makes up Art Squared, Sept. 22. Details here.

Storyteller Clare Murphy performs “Away with the Fairies” for family audiences Sept. 21 and “The Mad Myths of the Irish,” for adults Sept. 22 at the Indiana History Center. Details here. 

The Punkin Holler Boys play as part of the Indy Folk Series at the Unitarian Universalist Church of Indianapolis Sept. 22. Details here. 

 Acting Up Productions stages the Thornton Wilder classic “Our Town” Sept. 21-30 at the HJ Ricks Center for the Arts in Greenfield. Details here.  

Oranje

Sept. 22

IndianaStateFairgrounds

 The annual art and music exhibition moves to a new location this year, with bands on four stages and artists throughout the Indiana State Fairground’s Centennial Hall. Entering its second decade, the 21-and-over event runs from 8 p.m. to 2 a.m. Details here.