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 DJIA 11,707.9 -263.3 / S&P 500 1,277.1 -33.5 / NASDAQ 2,217.9 -3.2
 |  |  Tonight: Light snow, windy. Low 12. Tomorrow: Snow early, around 1 inch likely. High 14.
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|  Wednesday, January 23, 2008 |
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Miles to lead Super Bowl bid
Central Indiana Corporate Partnership CEO Mark Miles will lead the city's attempt to land the Super Bowl in 2012, according to a source familiar with the matter. The announcement of Miles' selection is expected this week. The source, who asked not to be named, said Miles will oversee initial research as well as assembling the bid and taking it to the committee of Super Bowl owners. 
WellPoint shares down following report
Shares of WellPoint Inc. fell 4.4 percent this morning after the Indianapolis health insurer announced strong fourth-quarter financial performance but also said it failed to attract as many new customers as it expected. The stock was trading near $75.25 this morning after closing yesterday at $78.75. The Indianapolis-based health insurer added 708,000 customers in 2007, missing its estimate of 800,000 the company gave in October.
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Investor wants Steak n Shake board ousted
A Texas-based investor said in a letter to Steak n Shake Co. shareholders today that he wants to replace the majority of the company's board, halt wasteful spending and focus on franchising. The letter was written by Sardar Biglari, a San Antonio hedge-fund manager whose investment group owns 8 percent of Indianapolis-based Steak n Shake. Biglari, 30, previously had announced that he and another member of his group would stand for election as directors when the company holds its annual meeting this year.
Water firm to add 200 jobs at Mount Comfort
Freije Treatment Systems Inc. plans to move its headquarters and product development to Mount Comfort Industrial Park east of Indianapolis from the Eagle Creek Park area. The expansion is expected to boost the company's employment from a dozen to 200 by 2010.
Court rules against former Conseco director
The Indiana Court of Appeals yesterday upheld an $8-million judgment that Conseco Inc. won against former director James D. Massey, who once was president of Merchants National Bank in Indianapolis. In the 3-0 decision, the court agreed with Hamilton County Judge Steve Nation, who ruled that Massey still owed Conseco for $8 million in interest accrued on stock loans. Conseco had paid the interest on Massey's behalf for company-backed loans he used to buy Conseco stock in the late-1990s.
Wells resigns from airport board
Mike Wells, a Republican appointee to the Indianapolis Airport Authority board and its longest-serving member, has resigned to make way for Republican Mayor Greg Ballard's pick. Wells was appointed by the City-County Council and his four-year term was to have run through Feb. 17. But the City-County Council met Dec. 31 to choose Lacy Johnson, a Democrat, to fill the sole appointment slot allocated to the council. Wells then offered to resign to make room for a Ballard appointment who could take over immediately.
Key Martinsville employer to close
Harman-Becker Automotive Systems Inc. plans to shut down its operation in Martinsville in phases this year, and close completely by next January, according to The Reporter Times. The first cuts will begin in April. At one time, the company was the largest employer in Martinsville, although it has cut positions in the past couple of years. About 340 now will lose their jobs.
Regulators clear Lilly biotech deal
Antitrust regulators have approved a business agreement between Eli Lilly and Co. and biotechnology company BioMS Medical Corp., a government agency said yesterday. The two firms signed an $87 million licensing and development deal last month that gave Indianapolis-based Lilly exclusive worldwide rights to a BioMS Medical late-stage drug candidate for multiple sclerosis.
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BioCrossroads gets $2.5M grant from Fairbanks
BioCrossroads, the not-for-profit that promotes life sciences in the state, has received a $2.5-million grant from Indianapolis-based Richard M. Fairbanks Foundation Inc. to underwrite a series of health care information projects through 2010. It's the third time Fairbanks has helped BioCrossroads. In 2004, Fairbanks joined BioCrossroads and other grant makers to create the Indiana Health Information Exchange, a not-for-profit that provides clinical data and quality standards to hospitals, physicians and other health care providers.
Bloomington publisher closing remote site
Author Solutions is moving iUniverse, its self-publishing arm, from Lincoln, Neb., to its headquarters city of Bloomington. Author Solutions bought iUniverse in September. Author Solutions CEO Kevin Weiss says all of iUniverse's several dozen full-time workers will be offered jobs in Bloomington.
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| Correction
A story in yesterday's IBJ Daily about small-business hiring in Muncie contained an incorrect number. Sallie Mae has hired 700 at its service center.
Correction
A story in yesterday's IBJ Daily about the city's next Super Bowl bid incorrectly said that Houston bid to host the 2011 Super Bowl. Also, the owners will meet in May to decide on the 2012 host city.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Program aims to help domestic abuse victims
Indiana Attorney General Steve Carter is teaming up with Clarian Health for a new program aimed at helping the victims of domestic abuse. The Address Confidentiality Program will supply victims with a P.O. Box rather than a physical address to keep abusers from being able to track their victims. Fox 59 will have more at 10 p.m.
Suspects appear in court
The four suspects in the quadruple murder at 3283 Hovey St., near East 30th Street and East Fall Creek Parkway, appeared in court this morning. There was some speculation as to whether their initial appearances would happen today. Yesterday, prosecutors filed for a 72-hour delay so investigators can gather more evidence before filing formal charges.
Wal-Mart brings hope to struggling neighborhood
Residents on the west side of Indianapolis hope a new Wal-Mart Supercenter that opened today in the Lafayette Square area will set the tone for positive changes in the community. The new store is located on Lafayette Road near Interstate 65. Officials hope the Wal-Mart, which will employ more than 400 people, brings an economic boost to the troubled area.
Kroger recalls deli salad sold in Indiana
Kroger is recalling the Deli Chef tri-bean salad sold in its stores because the salad could be contaminated with a bacteria that can cause botulism. The salad is sold in 13 states, including Indiana. No illnesses have been reported, but consumers who have the salad are being told to throw it out and contact the store where it was purchased in order to qualify for a refund.
Office, industrial vacancy should improve in 2008
The Indianapolis office market ended 2007 with a 17.3-percent vacancy rate, almost identical to the 17.2-percent vacancy at the end of 2006, reported Summit Realty Group in its fourth-quarter market report. The stability comes despite more than 700,000 square feet of speculative space coming on the market; 70 percent of that space was filled at the end of the year. Vacancy in the city's industrial market closed out the year at 9.7 percent, up just over 1 percent from the end of the third quarter. About 7.5 million square feet of space came on line during the year. New construction in both the industrial and office segments is expected to slow, pushing vacancy rates lower. 
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