Once the nation’s wealthiest foundation, Indianapolis-based Lilly Endowment now ranks ninth among its grant-making
peers. The endowment’s value fell 15 percent last year, to an estimated $4.8 billion.
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.
The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment
if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
Shares of Indianapolis-based Emmis Communications Corp. closed Monday at $1.53, the 10th straight day the stock has finished
trading above $1—preserving the company’s listing on the NASDAQ stock exchange, but big challenges remain for the locally
based owner of radio stations and magazines.
For the first time publicly, Eli Lilly and Co. officials admitted the obvious: Their pipeline products
aren’t likely to offset the revenue the company will lose after its two bestsellers, Zyprexa and Cymbalta, lose patent exclusivity.
WellPoint Inc. shares slipped in morning trading after the company beat analysts’ expectations for second-quarter profits
but failed to raise its year-end earnings forecast. WellPoint earned $1.50 per share in the latest quarter, excluding investment
losses. Analysts were expecting $1.43 per share, according to a survey by Thomson Financial Network.
Cummins Inc.’s stock jumped more than 6 percent in morning trading after its quarterly results
beat analyst estimates.
Kite Realty Group Trust has stuck pretty closely to the REIT recession playbook: Renegotiate debt, sell new shares, cut
dividends, and set the development engine to idle. But as the shares of most publicly traded real estate
investment trusts have bounced back from the lows in March, Kite’s shares have lagged.
Here’s more evidence we’re in strange times: Indianapolis’ real estate investment trusts have been issuing hundreds of millions
of dollars of stock at woefully low prices—and getting a pat on the back from their shareholders for doing so.