Simon funds rise 15 percent, hit expectations

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	Monday, July 28, 2008
	Simon funds rise 15 percent, hit expectations Simon Property Group Inc., the Indianapolis-based real estate investment trust that operates malls and shopping centers in North America, Europe and Asia, today said its second-quarter results improved 15 percent, and adjusted results topped Wall Street expectations. For the three months ended June 30, Simon reported funds from operations increased to $427.9 million, or $1.49 per share, from $373 million, or $1.31 per share, in the same period a year ago.   Old National profit holds its ground Old National Bancorp today reported second-quarter profit of $19.5 million, up marginally from $19.3 million in the same period last year. The Evansville-based parent of Old National Bank also said revenue climbed to $109.4 million from $97.3 million. The bank's shares slipped 16 cents this morning to trade at $14.81.
	Boone development chief switches jobs Kristy McKillip has taken a business development post with Indy Partnership after four years as executive director of Boone County Economic Development Corp. The Boone County group is one of 10 members of Indy Partnership, which markets the region to businesses looking to expand. McKillip's new position involves building relationships with companies considering expansions in the Indianapolis area, according to The Reporter of Lebanon. Elkhart newspaper looks beyond RVs, housing Sweeping diversification is necessary for the Elkhart area to snap its reliance on making recreational vehicles and manufactured housing, the Elkhart Truth opined in an editorial yesterday. A string of layoffs and other bad news from the sectors has rocked the area this month, raising questions about a difficult future for workers who know little else, the newspaper said. "... in the end, we must become something new," it said.   FCC approves satellite radio merger in 3-2 vote Sirius Satellite Radio Inc.'s $3.3 billion buyout of rival XM Satellite Radio Holdings Inc. will mean millions of subscribers will be able to receive programming from both services, while executives say it will create huge cost savings for the industry. Federal regulators formally approved the merger of the nation's only two satellite radio operators on Friday. Subscribers will not have to buy new radios to receive a mix of programming from both services, according to the companies.   Inflation's next front is retailers as costs rise Coming to a store near you: even higher prices. Most inflation this year has come from food and fuel, as retailers resisted passing along the higher prices manufacturers charged them, but coming increases from companies such as Johnson & Johnson and Hasbro Inc. may leave them with no choice but to share their pain with consumers. "While these increases have not for the most part been passed on at the retail level, it is inevitable that they will be at some point," said Dean Baker, co-director of the Center for Economic and Policy Research. "Car dealers and other retailers cannot continue to absorb rising costs at the wholesale level and not pass some of these increases on to consumers."   Clowes/Pike/Warren add to touring choices See what performers will be visiting next season. Lou Harry's A&E Time for animal-rights legislation? Animals would be helped, but farm profit would fall. NewsTalk
	Tony, tires, Danica make headlines This weekend's race could have long-lasting impact. The Score BW3, Madame Walker & Adobo News on restaurants and a theater contractor. Property Lines From IBJ staff - Compiled by Norm Heikens Teen-age murder suspect in court A 17-year-old murder suspect made his first court appearance this morning. Travis Mead faces murder charges in the stabbing death of David Flannery, 67. Investigators believe Flannery was killed after confronting the teen, who officers say was trying to steal Flannery's car. Officers added that Mead talked openly about the murder to his girlfriend. Fox 59 will have more at 10 p.m.
	Tire-some day at the Brickyard Jimmie Johnson fended off Carl Edwards and Denny Hamlin in a final seven-lap sprint to win yesterday's Allstate 400 at the Brickyard. But Johnson's second Brickyard victory almost was overshadowed by shredded tires and yellow flags. The race featured 11 cautions. The longest green-flag run lasted just 12 laps, leaving many fans frustrated. State police inspecting school buses Indiana State Police are inspecting more than 15,000 school buses before school starts to ensure their safety. Officers are examining everything from brakes and tires to lights and steering. Every problem must be documented and repaired before a bus can return to service. Marsh, Roche spar over sublease Marsh Supermarkets is suing medical-equipment powerhouse Roche over a soured sublease deal.   Offices in path of I-465 project The widening of I-465 on the northeast side could force the demolition of several office buildings.   Airport seeks higher parking profits Indianapolis International Airport is considering cutting parking fees in the hope of drawing more cars and ultimately boosting profit.
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