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 DJIA 11,292.1 -136.4 / S&P 500 1,328.4 -14.5 / NASDAQ 2,419.8 -42.3
 |  |  Tonight. Partly cloudy, spotty storms. Low 62. Tomorrow. Scattered afternoon storms. High 82. Sunday. Partly cloudy, afternoon storms. High 80.
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|  Friday, June 20, 2008 |
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New tourism chief known for energy, promotion
Seattle hospitality leaders say Indianapolis made a good choice in selecting current Seattle Convention and Visitors Bureau CEO Donald P. Welsh as its new tourism leader. "[Welsh] has been a driving force in getting the state to talk about tourism and engaging the governor and mayor," said Anthony Anton, president of the Washington Restaurant Association. "His energy is incredible. You're lucky to have him." 
Investors cheer Steak n Shake shakeup
Stock in The Steak n Shake Co. rose 5.2 percent this morning after the struggling restaurant chain announced late yesterday that a dissident investor had been appointed chairman. The shares increased to $6.70. Sardar Biglari, who has promised to overhaul the company, replaced Interim Chairman Wayne L. Kelley. Biglari and his San Antonio-based Lion Fund have been agitating for tighter cost controls, improved service and a shift to more franchised locations since shortly after they began buying Steak n Shake shares in August 2007.
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Specialty Coating Systems changes hands again
Indianapolis-based Specialty Coating Systems Inc. has been acquired for an undisclosed price by Berwind Corp., a Philadelphia-based private investment manager. Specialty Coating was owned by Bunker Hill Capital LP of Boston, which had acquired it from Rhode Island-based Cookson Electronics in December 2005. Approximately 120 of the company's 365 employees are in Indianapolis.
Library puts off Ambassador decision
Indianapolis-Marion County Public Library board members couldn't reach a consensus last night on who should get rights to develop two library-owned properties adjacent to its flagship downtown branch. The library's Board of Trustees met for more than two hours to discuss plans to redevelop the vacant Ambassador apartment building and property the library owns at 815 and 817 N. Pennsylvania Ave., now home to a one-story building and two parking lots. When it came time to vote on a plan, the board tied 3-3.
Would-be Finish Line exec named Genesco CEO
The executive who would have become president of The Finish Line Inc. if the Indianapolis company had closed on its purchase of Genesco Inc. has been promoted to Genesco CEO. Robert J. Dennis, 54, will add the CEO title to his existing post of president of the Nashville, Tenn., retailer come Aug. 1. He replaces Hal Pennington, who will become executive chairman. Dennis was CEO of Hat World Corp. when the Indianapolis-based hat retailer was acquired by Genesco in 2004.
Big Ten Network and Comcast reach deal
Finally, the Big Ten Network and Comcast Corp. have struck a deal. The BTN and the Philadelphia-based cable carrier announced a multiyear agreement Thursday that allows BTN programming to be carried on Comcast's expanded basic tier of service starting Aug. 15. After the 2008-09 basketball season ends, Comcast has the option to shift the network to its digital service.
Floods likely biggest ag disaster ever in Indiana
Indiana's agriculture director says this month's flooding likely caused the worst agriculture disaster in state history. Preliminary estimates show about 9 percent of the state's corn and soybean crops were flooded. State Agriculture Director Andy Miller said Indiana farmers could see more than $800 million in crop losses.
Hundreds in Fort Wayne take GM buyout
More than 460 workers at General Motors Corp.'s pickup truck assembly plant in Fort Wayne are taking early retirement or a buyout offer as part of the automaker's most recent round of buyouts. The workers will leave GM on July 1, according to The Journal Gazette of Fort Wayne.
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Indy developer gets green light in Shelbyville
Cedar Run Investments LLC, owned by Indianapolis developer Tim Shrout, has received the go-ahead from the Shelby County Plan Commission to build an industrial park in Shelbyville. The project will target suppliers to the Honda Manufacturing of Indiana plant in nearby Greensburg. The commission voted this week to rezone 100 acres from agriculture to manufacturing, according to The Shelbyville News.
Auto parts maker closing Scottsburg factory
Freudenberg-NOK is shutting down a brake-parts plant it operates in the southern Indiana town of Scottsburg, throwing 135 out of work. The work will be moved to Queretaro in central Mexico to cut costs and follow auto-making customers that are adding locations in the area, according to WHAS-TV Channel 11 in Louisville. Headquartered in the Detroit suburb of Plymouth, Freudenberg-NOK is a joint venture between Germany-based Freudenberg & Co. and NOK Corp. of Japan.
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The death of the CD
Reports of the death of the CD aren't exaggerated. Lou Harry's A&E
IRL races into flood-plagued Iowa
Despite deluge of damage, strong attendance is expected. The Score
From IBJ staff - Compiled by Norm Heikens
Two charged in Huntington branch shooting
Two men have been arrested and charged in the April 22 robbery at an Indianapolis Huntington Bank branch that resulted in the shooting deaths of unborn twins carried by a teller, Katherin Shuffield. Brian Kendrick, 29, is charged with robbery, attempted murder, two counts of feticide and possession of a handgun without a permit. Aaron Stewart, 28, is charged with conspiracy to commit robbery. Police are still searching for the weapon. Fox 59 will have more at 10 p.m.
Coach Hoeppner honored posthumously
Former Indiana University football coach Terry Hoeppner was honored yesterday, on the one-year anniversary of his death. In a ceremony in Shreveport, La., Hoeppner was inducted into the Independence Bowl's Hall of Honor Class. The Hoosiers played in the Independence Bowl in 1993. It was the school's last bowl appearance prior to last year's Insight Bowl.
Nightclub shooting leaves man wounded
A man is in critical but stable condition after being shot early this morning behind the Point Night Club on the city's east side. The victim was in his vehicle when he was shot in the abdomen. He managed to drive around to the front of the club to get help. Police have no suspects or witnesses.
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