Report: Simon attempts to sell holdings in rival Macerich
If true, the move could signal that Indianapolis-based Simon Property Group no longer is interested in acquiring the rival shopping-mall owner.
Shareholders
Shareholder coup of Steak n Shake parent firm fails
A Minnesota-based investment group that for months has been waging a campaign to oust Sardar Biglari from atop Steak n Shake’s parent company weathered a resounding defeat Thursday afternoon.
Advisory firm: Current Biglari board must go
Groveland Capital's push to oust Sardar Biglari from Steak n Shake's parent will come to a head Thursday. A prominent billionaire investor is poised to back the effort.
Steak n Shake profit falls as franchised restaurants grow
The Indianapolis-based burger chain’s smaller annual profit resulted from an ongoing effort to increase the company’s number of franchised restaurants, with plans to open units as far away as the Middle East.
Recent minor-league team sales suggest Indians worth $40M-plus
A stunning string of sales of minor-league baseball teams this year suggests the Indianapolis Indians’ current stock buy-back offer might be undervaluing the franchise.
Kite shares start trading under 1-for-4 split
Kite Realty Group Trust’s stock fetched $25 on Tuesday, an increase of more than 300 percent from the previous close, after the company’s split took effect.
ITT Educational CEO signals resignation amid stock freefall, federal scrutiny
Carmel-based ITT Educational Services Inc. announced late Monday afternoon that CEO Kevin Modany planned to resign within six months. The struggling for-profit education firm has drawn scrutiny from government officials for its marketing and lending practices.
Kite Realty to engineer 1-for-4 reverse stock split
The move will hike the real estate firm’s stock price, combining every four shares into a single share. Kite officials hope a double-digit price will give shares a more stable foundation and an image makeover.
Old National scoops up Lafayette Savings Bank for $42M
The purchase of LSB Financial Corp., parent of Lafayette Savings Bank, will add $366 million in assets and five branches to Old National’s portfolio.
Shares of Simon spinoff dip in early trading
Simon Property Group has revised its earnings forecast with the Thursday launch of spinoff firm Washington Prime Group.
Washington Prime shares set stage for NYSE debut
Shares of the fledgling, Indy-based firm hovered just under $21 in advance trading on Wednesday morning, providing a window to its official open Thursday on the New York Stock Exchange.
Shares of Simon Property spinoff to begin trading
Washington Prime Group Inc., listed under the “WPG” ticker symbol, will begin trading Thursday. The new real estate investment trust will own 98 retail properties, including 13 in Indiana.
Kite paying $1.2B for rival real estate developer
Kite Realty Group Trust will remain in Indianapolis after the purchase, which will balloon its holdings to 131 properties covering 20 million square feet of shopping center space in 26 states.
Angie’s List business model faces new heat
At least two investor lawsuits note that the company now generates the vast majority of its revenue from the service providers it's paying members to review.
Cummins posts strong 4Q results to boost slower year
The Columbus-based engine maker recorded a 7-percent increase in profit, but full results for 2013 lagged behind 2012.
Weak sales lead HHGregg to post smaller profit
Shares of the Indianapolis-based retailer had fallen 18 percent by early afternoon Thursday, after the firm reported slumping sales and profit in its latest quarter.
Simon amends plan for CEO’s controversial $154M bonus
Simon Property Group has tied CEO David Simon’s $154 million retention bonus to the financial performance of the company, but plaintiffs in a related legal action are not satisfied.
Angie’s List hit with shareholder suit
The complaint charges the company and executives with misrepresenting the strength of the Indy-based firm’s business model, financial performance and future prospects.
Spinoff firm with Carmel HQ plans to hire 150
Allegion PLC, an international firm that made its debut as a public company on Monday, plans to hire another 150 people within six months between its Carmel corporate hub and Indianapolis manufacturing facility.
Fee push helping banks overcome low interest rates
Two Indiana-based banks showed up on a national ranking of best non-interest income as a percentage of operating revenue: Evansville-based Old National Bancorp and South Bend’s 1st Source Corp.