Despite assurances of strength, Simon Property Group Inc. has decided to pay 90 percent of its dividend in stock, a move that allows the company to hold onto $925 million in cash this year but could alienate shareholders drawn by the dividend.
Glenn S. Lyon, the new head at The Finish Line Inc., has plenty to tackle. Traffic is down at Finish Line stores, sales have slowed and competitors are slashing prices.
Dr. Judith Monroe, Dr. Virginia Caine and G. Marie Swanson are three local women who have risen to leadership positions
in the health care community.
Some of the city’s most prominent commercial real estate brokers have resigned from locally owned Meridian Real Estate to
launch an Indianapolis affiliate of Chicago-based Jones Lang LaSalle.
The unprecedented plunge on Wall Street the last three months has spurred a couple of dozen executives and directors at Indiana
public companies to scoop up shares in their own companies.
Retired businessman John Wynne, one of the founders of Duke Realty Corp., is the latest executive to get burned after using
company stock as collateral for a multimillion-dollar loan in his investment account.
The Steak n Shake Co. has dropped plans to build 20 new restaurants, is cutting overhead expenses by about $20 million,
and closed 14 locations. The Indianapolis-based restaurant chain found $16 million in tax savings dating
back to 2006 and is working on a new, simple menu built around burgers, fries and milkshakes–all part of
a turnaround plan orchestrated by the chain’s new CEO, Sardar Biglari.
For more than two years, Smulyan, 61, has been unflaggingly optimistic during quarterly conference calls. But since early 2007, Emmis’ stock has fallen 84 percent, shrinking the company’s stock market value from $307 million to $48 million. The troubles have cast uncertainty over one of Indianapolis’ highest-profile businesses.
Undeterred by a rocky economy, locally based electronics retailer HHGregg is trailblazing into new markets on a quest to quadruple
in size. The firm’s “price and advice” mantra seems to be catching on. That’s no surprise to Jerry Throgmartin, a 33-year
veteran of Gregg who has served as the company’s chairman and CEO since 2003.
Most public companies say they tie executive compensation to performance, but an IBJ review of pay data from 65 Indiana-based
firms shows otherwise. Last year, more than two-thirds of Indiana-based public companies saw their share prices decline, yet
many continued to award eye-popping compensation to their executives.
Two executives with longtime ties to The Steak n Shake Co. have joined a dissident Texas investor in his quest to overhaul
the Indianapolis-based restaurant chain. Shareholders who have agreed to work with Sardar Biglari include a former board member
the company once described as a “modern-day founder” of the restaurant chain, along with a former partner in Kelley & Partners
Ltd., the investment firm led by company patriarch E.W. Kelley before his 2003 death.
Texas investor Sardar Biglari rode a wave of shareholder anger to a landslide victory in his quest for Steak n Shake Co. board
seats. Now, the dissident 30-year-old investor who models his approach after Warren Buffett’s is hoping to deliver on his
promise to turn around the Indianapolis-based chain, with or without the chairmanship he covets.
Fifteen senior executives have left WellPoint Inc. since November 2004, when the giant health insurer formed through Indianapolis-based
Anthem Inc.’s $16.5 billion acquisition of California-based WellPoint Health Networks Inc. The merger made many of them rich,
work at WellPoint was grueling, and personal commitments called. So they moved on.
Seven Indiana public companies not only own corporate jets, but also let their executives use them for personal trips. Cummins
Inc., Hillenbrand Industries Inc., Zimmer Holdings Inc., Eli Lilly and Co., NiSource Inc., WellPoint Inc. and 1st Source Corp.
all allow some personal use of company jets.