Simon Property hiked CEO’s pay 34.7 percent last year
David Simon’s $4.6 million in total compensation last year was $1.2 million more than in 2008. The rest of his management
team’s pay declined or remained flat.
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Conseco seeking to change its name
Carmel-based insurer Conseco Inc. will ask shareholders to approve changing the company’s name to CNO Financial Group,
the company said Thursday morning.
Cummins cuts CEO’s pay by nearly one-quarter
Columbus-based engine maker Cummins trimmed Solso’s total compensation by $2.3 million last year; remainder of management
team took
similar pay cuts.
Old National cut CEO’s pay 10.6 percent last year
The Evansville-based bank, the largest financial institution headquartered in Indiana, awarded Robert Jones $1.2 million in
total compensation last year, or $146,177 less than in 2008.
PROXY CORNER: Eli Lilly and Co.
Eli Lilly and Co. discovers, develops, manufactures and sells pharmaceutical products for humans and animals.
WellPoint expects loss of 400,000 insured members this year
Indianapolis-based health insurer expects revenue, profit to fall as persistently high unemployment reduces employer-sponsored
insurance enrollment.
Noble Roman’s boosts profit in 2009
Indianapolis-based Noble Roman's Inc. improved its bottom line in 2009, reporting a $1.7 million profit despite revenue
that dropped 16 percent to $7.5 million.
Cummins expects profit to grow 10 percent a year
Columbus-based Cummins Inc., North America’s largest maker of heavy-duty diesel truck engines, expects pretax profit
to increase 10 percent a year and sales to grow 13 percent annually over the next five years.
Simon, rival seek foreign investors to back General Growth bid
Indianapolis-based Simon Property Group and its chief rival in the battle to acquire bankrupt shopping mall operator General
Growth Properties Inc. are seeking funding from sovereign wealth funds in the Middle East and Asia, according to the Financial
Times of London.
Study: Heart attacks up when stocks are down
Duke University researchers found a link between how a key stock index performed and how many heart attacks were treated at
their North Carolina hospital.
ITT Educational awards top managers substantial raises
The Carmel-based for-profit educator paid CEO Kevin M. Modany $7.6 million in total compensation last year, a 63-percent increase over 2008. And the rest of his management team all enjoyed pay increases of 45 percent or more.
Three Indiana companies among world’s most admired
Brightpoint, WellPoint and Cummins are recognized by Fortune magazine as being among the best in their industries.
Simon Property CEO uses hard-nosed style to excel at acquisitions
David Simon, the shrewd and blunt deal-maker—an acquisitive former Wall Street wunderkind who transformed Simon Property
Group Inc. into the nation’s largest mall owner—is trying to land his biggest deal yet.
Market surge doesn’t lift Lilly Endowment
Lilly Endowment’s resistance to diversify its holdings reached a new height last year, as it failed to sell a single share
of the underperforming Eli Lilly and Co. stock while the broader market surged.
PROXY CORNER: Hurco Cos. Inc.
Hurco Cos. Inc. designs and produces interactive computer controls, software and computerized machine systems for the worldwide metal-cutting and metal-forming industry.
Creditors: General Growth biased toward Brookfield proposal
General Growth Properties Inc. may favor a risky bid from Brookfield Asset Management Inc. because of that company’s
agreement with William Ackman’s Pershing Square Capital Management LP, creditors said in court documents. Simon Property
Group also has bid to acquire the bankrupt company.
General Growth sets timeline for reorganization, plans IPO
General Growth, the bankrupt takeover target of Simon Property Group, aims to confirm a reorganization plan by Oct. 5. In addition, it said it will launch an initial public offering on Friday.
PNC-National City conversion ahead of schedule
The PNC Financial Services Group said Monday it has brought in 2.8 million former National City Bank customers and converted
560 branches since a $5.6 billion buyout less than two years ago. Branches in Indiana are set to switch over in June.
Lilly to shift more employees to Covance
Greenfield Labs operation expects to add 17 Eli Lilly and Co. workers after taking over staff of 264 in 2008 acquisition.
Conseco shares fall after dip in fourth-quarter profits
Carmel-based insurer swings to a profit, but earnings from operations decline.