A Friday funeral is planned for a man who made a fortune building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis. Melvin Simon, 82, succumbed this morning after a battle with pancreatic
cancer.
Melvin Simon, a tailor’s son who earned billions building shopping malls across the U.S. and later became a prolific
philanthropist in his adopted hometown of Indianapolis, has died. He was 82.
Since John Lechleiter was named CEO 18 months ago, he’s bet that Eli Lilly and Co. could face down its looming patent challenges
by launching innovative new medicines. Today’s announcement of 5,500 job cuts by the end of 2011 and a restructuring of the
company’s business units ups the ante on that bet, while indicating that it isn’t working yet.
Eli Lilly and Co. has experienced a string of setbacks in recent years. Is it still a good place to work?
Eli Lilly and Co. will cut 5,500 jobs by the end of 2011 as it tries to cut $1 billion in expenses before it loses revenue
from its bestselling drug, Zyprexa. Lilly CEO John Lechleiter said he did not know how many of those cuts would occur in central
Indiana. But with
13,600 employees working in the Indianapolis area, he acknowledged the largest chunk of reductions likely would come here.
Take the money while it’s there. That’s what a handful of insiders at WellPoint Inc. decided in
the past month as they sold off nearly 150,000 company shares for gains of more than $3 million.
Monroe Bancorp, 210 E. Kirkwood Ave., Bloomington, 47408 (www.monroecountybank.com) is the holding company for Monroe Bank, which provides consumer and commercial banking services and related financial services in Monroe, Hendricks, Lawrence and Jackson counties.
A health care reform push that aims at the insurance industry misses a much bigger target in its quest to lower rising costs,
WellPoint Inc. CEO Angela Braly said in a speech.
A major wildfire north of Los Angeles is perilously close to Mount Wilson, home to transmission towers used by Indianapolis-based
Emmis Communications Corp. and other broadcasters. "Mount Wilson is at risk due to the wildfires, and we are
monitoring the situation closely," Emmis Chief Operating Officer Patrick Walsh said in an e-mail this morning.
Conseco Inc. this morning said it is consolidating three of its insurers into one, a move that will have no impact on employment
but will save the company about $2.5 million annually.
Indianapolis-based Hurco Cos. this morning reported another quarterly loss after sales dropped a staggering 64 percent. Hurco
lost $1.2 million, or 19 cents a share, in its fiscal third quarter ended July 31. The company had a profit of $5.8 million,
or 90 cents a share, during the same quarter last year.
Steak n Shake Co. CEO Sardar Biglari revealed in regulatory filings this week that he spent $1.1 million buying shares in
the locally based burger chain, an apparent vote of confidence in his own turnaround plans.
Evansville-based Shoe Carnival Inc. today reported flat profit and declining same-stores sales in its fiscal second quarter.
WellPoint Inc., the nation’s largest health insurer based on membership, spent $1.2 million in the second quarter to lobby
the federal government on a variety of health care reform-related issues and other topics, according to a recent disclosure
report.
Drugmaker Eli Lilly and Co. spent nearly $3.6 million in the second quarter lobbying the federal government on health care
reform and trademark issues, among other topics, according to a recent disclosure form.
The price of Eli Lilly and Co.’s stock veered lower this morning after a Goldman Sachs analyst downgraded her rating from
neutral to sell.
WellPoint Inc.’s internal audit and chief compliance officer – and highest-ranking black executive – will leave the company
later this month, according to a companywide e-mail sent out yesterday.
Indianapolis-based Celadon Inc. said yesterday that it eked out a small profit in its fiscal fourth quarter, as the struggling
economy continues to batter the trucking industry.
Eli Lilly and Co. pulled the plug on yet another drug in its pipeline that was in the late stages of testing, further complicating
the company’s attempts to find revenue before losing patent protection on its bestseller.
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
