Articles

Simon Property Group signs CEO to long-term contract

Indianapolis-based Simon Property Group Inc. signed an employment agreement with CEO David Simon that will keep him as head of the largest U.S. mall owner for the next eight years—and give him a one-time award worth $120 million.

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Nordstrom closing Circle Centre store

Nordstrom plans to close its store at Circle Centre mall, dealing a substantial setback for downtown. The Seattle-based chain was scheduled to announce the closure to employees at a mandatory staff meeting Thursday morning, a person familiar with the plans told IBJ.

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PROXY CORNER: Simon Property Group Inc.

Indianapolis-based Simon Property Group Inc. is a real estate investment trust that owns, operates, manages, leases and develops regional malls and community shopping centers.

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Retail REIT profits may slip on store bankruptcies

Retailer bankruptcies likely will weigh on earnings of retail landlords, especially those that own shopping centers and mid-quality malls, an analyst said. But upscale mall owners like Simon Property Group should feel a smaller impact.

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Irsay, Simon tie on magazine’s world’s-richest list

In a feat not possible for their teams, Indiana Pacers owner Herb Simon and Indianapolis Colts owner Jim Irsay tied for 879th place on Forbes magazine’s annual list of the richest people in the world. Bill Cook and Dean White also made the list.

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