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 DJIA 12,177.9 -27.6 / S&P 500 1,331.2 -0.1 / NASDAQ 2,308.4 +3.6
 |  |  Tonight: Two inches to five inches of snow. Low 20. Tomorrow: Morning snow, cold. High 26.
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|  Monday, February 11, 2008 |
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Steak n Shake critic officially launches fight
A Texas-based investor group today officially launched its campaign seeking two seats on the board of The Steak n Shake Co. San Antonio-based Lion Fund filed papers with the Securities and Exchange Commission seeking the election of the fund's Sardar Biglari and Philip Cooley at the company's annual meeting next month. Lion Fund, which owns 8.5 percent of the Indianapolis restaurant chain, also wants shareholders to withhold votes for Chairman Alan Gilman and director James Williamson. 
Brightpoint to add Google functions to phones
Plainfield-based wireless device distributor Brightpoint Inc. today announced that it has inked a deal to add Google Inc.'s services to cell phones. Under the deal, Brightpoint will install Google Search and Google Maps on a range of smartphones. "It is a major deal for us," said Brightpoint CEO Bob Laikin. "Aligning Brightpoint with Google is a significant milestone for us and a significant win." |  | | | |
|  | Hundreds could leave Anderson for GM jobs
Hundreds of workers from Anderson's closed Guide Corp. plant could soon be leaving the area for jobs at General Motors factories across the country. Union officials estimate about 400 people who worked at the Guide plant before it closed last year are eligible for positions at GM factories, such as an assembly plant in Kansas that has 300 openings.
Opposition to Terre Haute land swap growing
More than 2,500 people have signed petitions opposing a proposed land swap that would make room for more retailing in Terre Haute. Terre Haute developers Gibson Development and Thompson Thrift want to swap 72 acres they own plus pay $9.2 million in exchange for the county fairgrounds. Critics say the new location for the fairgrounds is out of the way and fair attendance would suffer.
MainSource CEO Saner resigns
MainSource Financial Group Inc. said today that its president and CEO, 56-year-old James L. Saner Sr., has resigned. It did not explain the departure. Chairman Robert E. Hoptry will serve as interim president and CEO until a replacement is named, the Greensburg bank said. Shares fell 29 cents to $14.75 in morning trading.
Arcadia shares fall following loss
Arcadia Resources Inc. reported today that it lost $3.7 million in its third fiscal quarter, about the same as a year earlier. But the medical-services company, which moved its headquarters to Indianapolis from Michigan last fall, stressed that cash flow from continuing operations in the quarter that ended Dec. 31 climbed to $232,000, reversing a $2.1 million loss in the same period a year earlier. Shares of Arcadia fell 5 percent to $1.12 in morning trading.
Anthem, Clarian sign Medicaid pact
Anthem Blue Cross and Blue Shield and Clarian Health have formed a partnership to serve Indiana's Medicaid recipients. The new agreement means Medicaid participants can go to one of Clarian's five hospitals in the Indianapolis area, as well as LaPorte Hospital and Bedford Regional Medical Center. Anthem oversees health benefits for 123,000 Medicaid patients in Indiana. It was awarded the contract by the Indiana Family and Social Services Administration in 2006.
Yahoo rebuffs Microsoft's $44.6B takeover bid
Yahoo Inc. spurned Microsoft Corp.'s $44.6 billion takeover bid as inadequate today, betting that it can elicit a higher offer from the world's largest software maker or find another way to deliver a comparable payoff to its shareholders. The rebuff by the slumping Internet pioneer had been widely anticipated after word of Yahoo's intention was leaked during the weekend. In its formal response, Yahoo said its board had concluded Microsoft's unsolicited offer "substantially undervalues" the company.
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Bonds may portend year-end recovery
Trends in five-year Treasury bonds suggest the economy will be recovering from its slump within nine months, according to Bloomberg. The five-year Treasury and its relationship to other Treasuries was an indicator of recovery from recessions in 1990 and 2001. If past patterns hold true, the economy should be moving ahead within six to nine months, James Caron, Morgan Stanley's head of U.S. interest rate strategy, told Bloomberg.
Blog: Play ball
It may be frigid outside, but it will be heating up today inside the corporate offices at Victory Field, where the Indianapolis Indians meet at 3 p.m. for the franchise's annual shareholder meeting. It's difficult to say how the team will do on the field in 2008, but Indians executives anticipate a banner year financially. To weigh in, go to IBJ's new sports business blog, The Score.
From IBJ staff and Associated Press-Compiled by Norm Heikens |  | | | |
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Winter storm headed toward Indiana
Another round of severe winter weather is heading toward central and southern Indiana. Fox 59 meteorologist Jim O'Brien forecasts two to five inches of snow for the Indianapolis area and one to three inches in the Kokomo and Lafayette areas. Fox 59 will have the latest at 10 p.m.
Last chance to register to vote
Registration closes at 4:30 p.m. today to vote in the March 11 special election to replace Julia Carson as U.S. representative of the 7th district. Today is also the first day for early on-site absentee voting.
Ballard to testify over tax resolution
Indianapolis Mayor Greg Ballard plans to testify before the Indiana House Ways and Means Committee today about the effects of Senate Joint Resolution 1 on the city. The resolution would limit property taxes, saving taxpayers more than $630 million. Critics say lost revenue will result in fewer police officers, firefighters and government services.
More info revealed in 8-year-old's death
Metro police are revealing more information about a man they say is responsible for the shooting death of an 8-year-old girl. Karissa Hitchings was killed Friday night at her grandmother's house, 2317 N. White Ave. Investigators say the prime suspect, Emmanuel McClendon, 26, had an ongoing dispute with the girl's father, Christopher Hitchings, 28. Probable cause documents relating to the case are expected to be filed later today.
Few checks, big balance
Center Township Trustee Carl Drummer has amassed a multimillion-dollar surplus - a cushion he calls prudent but critics call wasteful.
Memory Gardens lawsuit seeks $20M
An Indianapolis law firm has filed a lawsuit seeking more than $20 million from a pair of financial-services firms it says facilitated transactions that allowed a New Jersey couple to plunder cemetery trust funds.
City getting new marathon
Organizers for a new Indianapolis marathon and half-marathon think the event will become a national draw, showcasing downtown monuments and historic neighborhoods. | | | |
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