CEO exit puts Steak n Shake at crossroads

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	Tuesday, August 14, 2007
	CEO exit puts Steak n Shake at crossroads The abrupt departure of Steak n Shake Co.'s CEO yesterday following eight straight quarters of declining same-store sales might stoke investor speculation that the company will be sold. Shares of locally based Steak n Shake rose slightly this morning on news of the leadership shuffle. The stock was up 11 cents to $13.57, one of only a few stocks to rise this morning.   Gregg stock gyrates after earnings report HhGregg Inc.'s stock shot up more than 7 percent this morning only to tumble back to the $13.50 range where it started the day. The swing followed the first earnings report the Indianapolis-based appliance and electronics retailer filed as a public company. Gregg said it turned a $2.9 million profit in its fiscal first quarter ended June 30 versus a $1.4 million loss a year earlier.
	Town to buy Zionsville Golf Course for $1.5 million Zionsville Golf Course has agreed to be bought by the town for slightly more than $1.5 million, according to the Daily Sun of Lebanon. Owner Mike Morgan told the newspaper that he and his wife, Patty, wanted the course to remain as green space despite offers by developers. Only the town would guarantee that the property would not be turned into housing or developed for another use.   Jeffboat parent OKs buying back more stock American Commercial Lines Inc. directors have approved buying as much as $150 million of the company's stock, the Jeffersonville parent of barge builder Jeffboat said today. The move follows a buyback of $200 million of the stock in July. The company has seen its shares slump to $22 from $39 in February.   RV industry cruising toward good year Despite alternately hitting the gas and the brakes, the recreational vehicle industry could be on track for a solid year, according to the South Bend Tribune. Dealers are selling off a glut of inventory accumulated after makers last year offered deals to keep plants humming. As a result, factories are getting fewer orders this year, and the resulting slowdown has resulted in layoffs and consolidation of plants in the manufacturing center of north-central Indiana. Yet, dealers report that sales are still strong relative to historical trends.   From IBJ staff and Associated Press---Compiled by Norm Heikens Truck driver in Taylor University crash gets 4 years The truck driver convicted of causing a crash that killed five people from Taylor University in April 2006 was sentenced by a Jay County judge today to four years in prison. Robert Spencer also must pay a $5,000 fine and can no longer drive commercial vehicles. Four students and one staff member were killed after Spencer fell asleep at the wheel and hit their university van. Fox 59 News will have the latest at 10 p.m. Hearings underway for inmates in New Castle riot The Henry County prosecutor and the county court will hold 28 hearings today for prisoners involved in the New Castle Correctional Facility riot. In April, inmates from Arizona who had been transferred to Indiana clashed with local inmates. Today's hearings are the first step in prosecuting inmates accused of committing crimes during the three-hour uprising.
	Outdoor watering ban issued through Friday Weeks of high demand have forced Indianapolis Water Co. officials to ask customers to stop all outdoor watering through Aug. 17. Water company officials say high demand for water could put fire protection at risk. IPS students due back in school tomorrow Dozens of area schools are back in session today. It also marks the first day of classes at Franklin Township's newest school, South Creek Elementary on East Southport Road. Tomorrow, the new school year hits full stride, with students from IPS and several other area districts returning to class. Workplace interference Fantasy football leagues are drawing flags from employers worried about productivity.
	Tax redo may not be fix-all Local assessors predict little change will result from the reassessment ordered by Gov. Mitch Daniels.   Prescription drug abuse on the rise Diversion of prescription drugs from the medical field to recreational use is becoming more of a problem.   Has fantasy football found its way into your office? In offices where fantasy football is distracting employees, should managers crack down on non-work activities or use fantasy football's popularity to build morale? | Largest Indianapolis-Area Environmental Consulting Firms Largest Indianapolis-Area Environmental Contractors Largest Indianapolis-Area Industrial Parks Largest Indianapolis-Area Women-Owned Businesses Largest Indianapolis-Area Travel Agencies   Sign up today for IBJ's Health Care Weekly E-mail Alert. This once-a week e-mail is delivered every Wednesday. Readers will find news about local hospitals, medical practices and health care companies as well as updates of stories that first appear in Indianapolis Business Journal. They'll also get people and event news and public policy changes that affect the health care industry. Sign up today for your free subscription.
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