Training firm Adayana seeks bankruptcy protection
Indianapolis-based training firm Adayana Inc. said it sought Chapter 11 bankruptcy reorganization this week after two years of unsuccessfully trying to restructure its debts out of court.
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Simon’s board wrongfully denied CEO pay vote, lawyers argue
Simon Property Group directors improperly refused to let shareholders vote on changes to the company’s executive-compensation plan that resulted in a $120 million stock award to CEO David Simon, investors’ lawyers argued Monday in court.
Colts’ Luck signs with tech startup selling skullcap that rates impact
Indianapolis Colts quarterback Andrew Luck got an equity stake to join the sports advisory board of MC10, a technology startup that released its first commercial product in July.
Lilly, other drugmakers itching to find new psoriasis treatment
Psoriasis is linked to higher rates of heart disease and diabetes, and a third of patients also develop a form of arthritis. About 125 million people worldwide have the skin condition, including 7.5 million Americans.
Lilly to buy back $5B as sales goal harder to reach
Eli Lilly and Co. said Thursday that meeting its sale target will be a challenge. It plans to repurchase $5 billion in shares and introduce new diabetes drugs to help navigate through patent losses. Another immediate hurdle: Obamacare.
NFL free-agent lawyer sets sights on NCAA
Jeff Kessler, an attorney who helped bring free agency to the National Football League, is about to focus on the unpaid athletes who generate more than $16 billion in college sports television contracts.
Stocks rise as investors weigh effects of shutdown
Markets on Tuesday weren’t fazed by the the first partial government shutdown in 17 years. Open enrollment for Obamacare exchanges helped WellPoint shares.
Republic Airways selling Frontier in $145M deal
Indigo Partners LLC, led by veteran airline executive William Franke, has agreed to buy Frontier Airlines from Indianapolis-based Republic Airways Holdings Inc. for $36 million in cash. The total value of the transaction is $145 million including debt.
Lilly drug beats Roche’s Avastin in advanced colon cancer
Cancer drug Erbitux extended the lives of patients with a form of advanced colon cancer more than seven months longer than those taking Roche Holding AG’s Avastin.
All-star forward George signs extension with Pacers
Team officials have not released details, but the contract is reported to be for five years and worth $80 million-plus.
Simon debuts bonds in Europe as discount to U.S. widens
Simon Property Group Inc. is selling 750 million euros ($1 billion) of seven-year securities as the yield discount to U.S. dollar notes approaches the widest in more than 4-1/2 years.
Lilly bets quality over quantity will pay off in diabetes battle
Eli Lilly and Co. is counting on the quality of a diversified product portfolio over boosting its sales forces to grab a bigger slice of the $22 billion U.S. diabetes market, a difference in strategy to some of its rivals.
NCAA restoring some of Penn State’s football scholarships
The Indianapolis-based National Collegiate Athletic Association said in a statement Tuesday that the university had made “continued progress toward ensuring athletics integrity” in the aftermath of the Sandusky case.
Simon competitor hoping to raise $750 million in IPO
An offering of at least $750 million by Brixmor Property Group Inc. would be the largest IPO by a retail real estate investment trust since Simon Property Group raised $840 million in 1993.
Ex-FBI agent to plead guilty to leaking classified intelligence
Donald Sachtleben, a 55-year-old Carmel resident, admitted being the source for an AP story about an intelligence operation in Yemen that foiled a plot to blow up an airliner.
Device prices plunge as hospitals pay less to fix hearts, hips
Prices paid in the United States for medical devices, including those made by Indiana-based manufacturers, have plunged as much as one-third since 2007 as hospitals clamped down on spending.
Alzheimer’s targeted in $45M government study grant
Part of the funding will go to an existing study of drugs from Eli Lilly and Co. and others to see whether they can ward off the disease in people who inherited genes that predestine them to get Alzheimer’s.
Luck throws weight behind Body Armor with equity stake
Indianapolis Colts quarterback Andrew Luck said he wanted to prove himself on the field in the National Football League before pursuing sponsorship opportunities off it.
Mall owners go from first to last in REIT market
Shopping mall owners like Simon Property Group, the best-performing U.S. property stocks for four years, have tumbled to the worst as sluggish retail sales and limited opportunities to expand drive investors to look elsewhere for earnings growth.
NCAA football restructuring seen inevitable by ADs
The richest college football programs almost certainly will be allowed to spend more money on athletes once the NCAA rewrites rules in the coming months, according to a panel of sports administrators and marketers.