Churn continues in top ranks at WellPoint

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	Tuesday, October 2, 2007
	Churn continues in top ranks at WellPoint Talk about an exodus. The five highest-paid executives at WellPoint Inc. as recently as five months ago will all have left the Indianapolis-based health insurer a year from now. Today, John Watts Jr. announced he would resign as CEO of commercial and consumer business effective Oct. 15 and leave the company by year's end. Also today, two other executives, Joan Herman and Alice Rosenblatt, announced their intention to retire by mid-2008 and the second half of 2008, respectively. If all three leave as planned, they will increase to 14 the number of top WellPoint executives who have departed since the company was created by the November 2004 merger of Indianapolis-based Anthem Inc. and California-based WellPoint Health Networks Inc.
	Steak n Shake shareholder ratchets up heat Sardar Biglari, the San Antonio investor who has thrown his weight around at Applebee's and other restaurant chains he owned stock in, said yesterday that he and an associate have been nominated by a group he heads to fill board seats at Steak n Shake Co. Inc., the struggling Indianapolis hamburger chain. The nominations are necessary because attempts to discuss directorships with the existing board have been fruitless, Biglari said in a letter to shareholders posted at www.enhancesteaknshake.com.   Advantage buys stadium naming rights Advantage Health Solutions Inc. has entered a six-year agreement with the Indianapolis Colts Inc. that includes naming rights to the area for club seat ticket holders on the west side of Lucas Oil Stadium, the Indianapolis-based health insurer said today. The deal also includes radio, television and print advertising, and the opportunity for Advantage to work with the Colts on community events and sponsorships. Terms of the contract, which begins in March, were not immediately available.   Edinburgh plant closing; nearly 400 to lose jobs International Automotive Components Group North America announced today that it will shutter its manufacturing plant between Indianapolis and Columbus in Edinburgh. The 200,000-square-foot facility employs nearly 400 who supply door trim, instrument panels and other components to General Motors Corp. and Chrysler LLC. Based in New York, International Automotive Components is consolidating the auto parts industry. Ethanol project planned for Shelby County A Florida company wants to build a Shelby County ethanol plant capable of producing up to 110 million gallons of the fuel each year. The permit application by Indiana Biofuels Inc., a subsidiary of NexGen Biofuels of Wesley Chapel, Fla., was submitted to the Indiana Department of Environmental Management for approval last week.   Chicago tax could help northwest Indiana Development leaders in northwest Indiana want to pounce if commissioners in Cook County, Ill., follow through on a proposal to raise sales taxes to 11 percent-the highest in the nation-to plug a budget shortfall. If commissioners raise the tax at a meeting Oct. 16, the level will be nearly twice the 6 percent sales tax across the border in Indiana. That could turn northwest Indiana into a retailing Mecca for tax-weary Chicagoans if the region takes advantage of the disparity to push retail development, according to the Post-Tribune of Merrillville.
	Braly named to list of powerful women Fortune magazine today named WellPoint Inc. CEO Angela Braly as the fourth-most-powerful woman in business. Braly, 46, took over from Larry Glasscock on June 1. WellPoint, with $57 billion in revenue, is the country's largest company run by a woman.   Panel explores more options for property taxes A legislative panel charged with exploring ways to cut property taxes discussed yesterday the idea of having the state assume all school operating costs and local expenses for child welfare services. Under a scenario discussed by the Commission on State Tax and Financing Policy, the state also would end much of its property tax relief program.   Steel Dynamics buys scrap recycler Steel Dynamics Inc. announced yesterday that it has acquired privately held OmniSource Corp. for $1 billion in cash and Steel Dynamics stock. Both companies are headquartered in Fort Wayne. OmniSource is one of the nation's largest steel recyclers and will operate as a subsidiary of Steel Dynamics.
	From IBJ staff and Associated Press-Compiled by Norm Heikens IPS suspends more than 100 students Some parents and students say Tech High School administrators went overboard yesterday when they suspended more than 100 students for violating the new Indianapolis Public Schools dress code. Parents today will be asked to sign a form saying they are responsible for what their kids wear to school or the children cannot come back. School administrators say parents and students had plenty of time to get the uniforms. Suspect linked to carjacking, pursuit Metro police last night caught a man near 30th Street and Georgetown Road, just blocks north of Indianapolis Motor Speedway, who they believe is responsible for several area robberies and a carjacking in Speedway. The man, whose name wasn't released, abandoned his vehicle and ran after police tried to pull him over for a traffic violation. Eastside man displaced after fire Fire investigators are searching for the cause of an early morning house fire at 4016 Brookville Road east of downtown a couple of miles. A resident said the smell of smoke woke him up, so he got out of the house and called 911 when he saw it was on fire. Victims' Assistance helped the man find another place to stay. Indiana troops return home Five Indiana Air Force Reserve airmen from the 434th Civil Engineers Squadron returned to Indiana from Iraq last night. They were in Kirkuk working with other civil engineers for just over four months. Plans plug downtown 'gaps' Two proposed developments in South Meridian Street's Wholesale District would replace parking lots.   Payola alleged by radio exec A former Radio One Indiana controller has sued the company on claims she was fired because of her race after she raised concerns about fraud and payola.   Indiana salivating for culinary tourists State tourism boosters are looking into launching culinary trails focused on tenderloins, pie and candy.   Largest Indiana Business Incubators Sign up today for IBJ's Health Care Life Sciences Weekly E-mail Alert. This weekly news-email is sent out every Wednesday morning to over 3,000 business professionals. The content will cover the business of health care, life sciences and related insurance and benefits news. Readers will find news about hospitals, medical practices and health care companies as well as updates of stories that first appear in Indianapolis Business Journal. Also included are industry stats and trends, people news, event news and news of public policy changes that affect the health care and life sciences industries. Sign up today for your free subscription.