Elevance, Cummins CEOs named to ‘Most Powerful Women’ list
CVS Health Corp. CEO Karen Lynch topped the list for the second consecutive year, followed by Accenture CEO Julie Sweet and Citigroup Inc. CEO Jane Fraser.
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Indianapolis biotech trying to fight cancer navigates bumpy road
Point Biopharma is moving aggressively to get its lead drug, a radioactive isotope called lutetium 177, through late-stage trials for prostate cancer.
Wall Street expects inflation squeeze on 2Q earnings
Inflation tightened its grip on businesses and consumers during the second quarter and investors expect to see a dent in the latest round of corporate earnings.
Fishers-based ‘blank check’ company finds acquisition target
Fishers-based American Acquisition Opportunity Inc. says it has entered into a merger agreement with Royalty Management Corp. in an all-stock deal that values Royalty Management at $111 million. The merger will create a new Fisher-based public company.
Indiana stocks fare better than most this year
At the close of trading June 24, Bloomberg’s Indiana Index was trading at $375.30, up 0.55% from the beginning of the year. The S&P 500 was down 18.45% and the tech-heavy Nasdaq was down 26.59%.
Pay for CEOs at big public companies rose 17% in 2021 as profits soared
Last year’s leap for median pay of S&P 500 CEOs was the biggest since a 23.9% surge for 2010 compensation packages, according to the data analyzed by Equilar.
Twitter adopts ‘poison pill’ defense in Musk takeover bid
Twitter’s plan would take effect if Musk’s roughly 9% stake grows to 15% or more. Even then, Musk could still take over the company with a proxy fight by voting out the current directors.
Green progress is aim of SEC reporting proposal for public companies
The proposal would require disclosure of risks climate change pose to companies and the amount of greenhouse gas emissions produced by companies and by their supply chain.
KAR shares rise 40% after Carmel firm says it will sell ADESA
The Carmel-based auction services company declined to say how many of its 1,000 employees in Indiana would be affected by the transaction. But it said the buyer—Carvana Co.—will not require any employees to relocate.
Pelted by buyout offers, Kohl’s adopts ‘poison pill’ plan
The retailer says recent offers to purchase the department store chain undervalue its business.
2021 Newsmaker: Robert Laikin, entrepreneur, investor
What drives Laikin is the urge to find the next important thing and get enough people excited to put their money in a deal. He wants them to dream big with him.
Supply-chain squeeze contributes to 2Q loss for Calumet Specialty
The Indianapolis-based manufacturer posted a $78.4 million loss in the second quarter.
Elanco shares plunge 15% after mixed full-year outlook
Shares of the Greenfield-based maker of animal feeds and vaccines dove after the firm warned that it’s facing inflationary pressures, increased logistics costs and other headwinds.
CEO pay at public companies rises even as pandemic ravages economy
The median pay package for a CEO at an S&P 500 company hit $12.7 million in 2020. That’s 5% more than the median pay for that same group of CEOs in 2019.
A 33-year-old Simon becomes force inside family company
Eli Simon, whose grandfather and great-uncles founded Simon Property Group more than a half-century ago, is quietly emerging as a key executive in the retail real estate empire.
Winter storm contributes to 1Q loss for Calumet Specialty Products
Calumet said Winter Storm Uri, which brought snow and record cold across the U.S. in February, hurt production at the company’s Gulf Coast refineries during the quarter. The first-quarter losses push the company’s total losses since 2014 above $1 billion.
Public companies using SEC filings to talk up diversity, but few sharing data
Eli Lilly and Co. included in its proxy statement an intricate graphic breaking down the presence of women and minorities in its overall workforce and in management.
Calumet Specialty Products posts annual loss for 7th straight year
The Indianapolis-based company, which makes specialty petroleum products, last posted an annual profit in 2013. Calumet’s cumulative annual losses since then total $931.7 million.
Carmel-based Protective Insurance to be acquired by Progressive
Insurance giant Progressive is purchasing Protective in a stock deal worth $338 million. Protective, known as Baldwin & Lyons Insurance until 2018, is the Indianapolis-area’s 12th largest public company in terms of annual revenue.
Allegion hires new Carmel-based exec to lead Americas business
Luis Orbegoso, 50, joins Allegion from American Residential Services. He’ll be based in Allegion’s Carmel office and oversee the security-products company’s operations in the Americas.