PROXY CORNER: Hill-Rom Holdings Inc.
Hill-Rom Holdings Inc. produces hospital beds, mattresses, stretchers, furniture and hospital information-technology systems.
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General Growth snubs initial offer from rival Simon
Simon Property Group Inc. will have to wait in line with other potential bidders and raise its offer if it wants to land bankrupt
rival General Growth Properties Inc., the Chicago-based company said in a letter late Tuesday.
Lilly settles Arkansas Zyprexa suit for $18.5M
Arkansas Attorney General Dustin McDaniel on Tuesday announced an $18.5 million settlement of a lawsuit with Eli Lilly &
Co. over off-label marketing of the anti-psychotic drug Zyprexa.
Simon making $10B bet on future of malls
Wall Street today is cheering Simon Property Group Inc.’s giant bet on the future of retail real estate, a sector that
appeared left for dead just months ago. The nation’s largest mall owner has offered $10 billion to take over its
nearest rival, Chicago-based General Growth Properties Inc., which is in bankruptcy.
Simon offers $10 billion for General Growth
Deal to acquire competitor would be largest ever for Simon Property Group, already the nation’s largest mall operator.
WellPoint hits bottom with customers
Even before WellPoint dissatisfied President Obama over its rate increases in California, it wasn’t doing so hot satisfying
its actual customers, according to the American Customer Satisfaction Index.
Could WellPoint woes breathe life into health reform?
The firestorm created this week by Indianapolis-based health insurer WellPoint’s spike in premiums could resurrect some parts
of
the languishing health reform bills.
Republic stock falls following departure of Frontier exec
CEO Bryan Bedford remains at the helm, but shares of Republic Airways have fallen nearly 30 percent following the departure
of an executive deemed key to the operation
of the regional airline’s first two branded carriers, Frontier Airlines and Midwest Airlines.
HHGregg’s faster growth boosts risk, potential rewards
HHGregg Inc. had been in business nearly a half century when it hit the 50-store mark in 2004. It plans to open nearly
that number within the next year.
WellPoint blames rate hike on loss of healthy customers
The Indianapolis-based health insurer says a shift in demographics and rising medical costs have led to its planned 39 percent
rate hike for some California customers.
Shareholders in bankrupt Accuride pursuing loan
Accuride shareholders are trying to arrange a $400 million loan to fund the Evansville company’s exit from bankruptcy.
UPDATE: Steak n Shake confirms new corporate HQ
The Steak n Shake Co. updated its Web site this week to reflect a new corporate headquarters address in San Antonio, confirming
a story in IBJ‘s Feb. 8 print edition.
Lilly awards pay increases to top executives
Eli Lilly and Co. CEO John Lechleiter’s total compensation increased $4.1 million in 2009.
Calumet Specialty investigating cause of Louisiana explosion
Indianapolis-based Calumet Specialty Products Partners LP is investigating the cause of a Friday blast at its refinery in
Shreveport, La., that damaged some nearby properties.
Steak n Shake changing its name, moving HQ to Texas
Indianapolis is on the verge of losing one of its most prominent public companies. The Steak n Shake Co. is planning to
change its name to Biglari Holdings Inc. and move its headquarters to San Antonio. The Steak n Shake restaurant chain would retain a presence in Indianapolis.
Republic Airways to shut down Lynx Aviation
Indianapolis-based Republic Airways Holdings Inc. will shut down Lynx Aviation, a regional flying unit that operates Bombardier
Q400 propeller planes. The changes will mean 175 people will lose their jobs.
PROXY CORNER: Hillenbrand Inc.
Hillenbrand Inc. manufactures and supplies burial caskets, cremation products and related services to licensed funeral homes.
HHGregg’s profit, sales rise
HHGregg’s profit and revenue both increased in its fiscal third quarter, despite a slight dip in same-store
sales. The opening of 19 stores helped offset the decrease.
Brightpoint profit up despite declining revenue
Wireless device distributor Brightpoint Inc. saw revenue decline in the fourth quarter, but the Indianapolis-based company
still managed to bounce back from $346 million year-ago loss with an $18.3 million quarterly profit.
Chairman Glasscock retiring from WellPoint board
Larry Glasscock will retire as chairman of WellPoint Inc.’s board, the Indianapolis-based health insurer said early Wednesday.
Company CEO Angela Braly will assume the position March 1.