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 DJIA 11,868.7 +61.3 / S&P 500 1,327 +12.7 / NASDAQ 2,405.4 +37.1
 |  |  Tonight: Partly cloudy, chance of storms. Low 70. Thursday: Hot, sticky, chance of storms. High 88.
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|  Wednesday, June 25, 2008 |
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Steak n Shake clears way for special meeting
The Steak n Shake Co. has rolled back a roadblock originally designed to stop an activist investor from taking control of the struggling chain. The company's board has agreed to reduce the percentage of Steak n Shake shares needed to call a special meeting from 80 percent to 25 percent. The board had raised the requirement from 25 percent after dissident investor Sardar Biglari revealed his plan in January: Elect two members to the company's nine-member board, then ask shareholders to call a special meeting to replace the majority of the board. 
Brightpoint strikes Verizon distribution pact
Locally based Brightpoint Inc. today said that it has reached an agreement with New Jersey-based Verizon Wireless to distribute wireless devices to the carrier's authorized agents and national retailers. Brightpoint spokesman Anurag Gupta called the pact "a significant deal for us." Verizon is one of the nation's largest wireless networks.
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|  | Symmetry Medical profit hits record
Warsaw-based Symmetry Medical Inc. reported late yesterday that its first-quarter profit hit nearly $4 million, a record and more than double levels of a year earlier. Revenue surged to $101.9 million, from $64.7 million a year earlier. Demand for its orthopedic implants and instrument cases is so strong, Symmetry said, that it now anticipates 2008 revenue of $395 million to $405 million, rather than the prior expectation of $350 million to $360 million.
Miller Pipeline buys Carolina pipeline company
Miller Pipeline Corp., the pipeline contractor owned by Evansville-based Vectren Corp., has acquired a small pipeline contractor in Greenville, S.C., for an undisclosed price, Miller said yesterday. The South Carolina firm, E&M Pipeline, has 35 workers. E&M pushes Indianapolis-based Miller into its 22nd state.
Painting from Miller estate sells for $80.5M
Intense bidding yesterday from parties in Asia, the Middle East, Europe and the United States pushed the auction price of a Claude Monet painting owned by Columbus industrialist J. Irwin Miller and his wife, Xenia, to $80.5 million. A spokesman for Christie's Auction House said the "Le Basin aux Nympheas" nearly broke a record for a piece of art purchased in Europe, according to The Republic of Columbus. Xenia Miller died in February at age 90, and J. Irwin Miller, the former CEO of Cummins Engine Co., died in 2004 at age 94.
Trustees to vote July 9 on new ISU president
Indiana State University trustees will vote July 9 on the appointment of Daniel J. Bradley as the university's president. Bradley, currently president at Fairmont State in West Virginia, was recommended for the post at Indiana State yesterday by trustees president Michael J. Alley, former CEO of Fifth Third Bank's Indiana operations. ISU President Lloyd Benjamin III announced last year that he would step down at the end of June.
Ann Patchett on opera and veggies
Debating a mix of local goods and best of the rest. Lou Harry's A&E
The next 100 years
An economic development sage looks ahead. NewsTalk
A new strategy for 707 E. North St.
A condo project has taken a dramatic U-turn. Property Lines
IRL TV coverage causes static
The broadcast of an IRL race in Iowa wasn't received well. The Score
From IBJ staff - Compiled by Norm Heikens
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Judge strikes down new sex-registry law
A federal judge has struck down a new state law that would allow police to search computers of convicted sex offenders after their sentences had been served. Starting July 1, the law would have required sex offenders enrolling in the state's public registry to submit e-mail addresses and user names for instant messaging and chat rooms. The offenders then would have to sign a consent form allowing searches of their personal computers at any time. U.S. District Judge David Hamilton believes the restrictions violate privacy rights. Fox 59 will have more at 10 p.m.
Daniels teams up with fellow guvs for flood assistance
Gov. Mitch Daniels is teaming up with the governors of Illinois, Iowa and Wisconsin to urge President Bush to boost the federal share of flood disaster assistance. The governors sent a letter to Bush asking the federal government to pay 90 percent of disaster-related costs incurred by local and state government. Typically, the federal government covers about 75 percent, with local and state agencies paying the rest. So far, Daniels has declared a disaster emergency in 58 of Indiana's 92 counties.
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| Boone County teenager dies
A Boone County teenager died at Wishard Hospital yesterday, a day after he was hit in the head by a 20-foot tree limb. Jordan Essex, 14, was helping his father cut down a tree when the limb hit him. Essex had just finished seventh grade at Western Boone Junior-Senior High School. Funeral services are pending at Myers Mortuary in Lebanon.
Sheriff's deputy arrested for drunk driving
A Delaware County sheriff's deputy was arrested Sunday and accused of driving drunk. Ray Dudley was driving his private car when he was pulled over at an Indiana State Police sobriety checkpoint and registered a blood-alcohol level of.10. A level of.08 is considered intoxicated in Indiana. Dudley could face disciplinary action, along with criminal prosecution. He has been a county deputy since 1998 and is also a part of the DARE anti-drug program.
Shelbyville resident launches first project
A Shelbyville real estate firm wants to develop 200 acres on the west side of the city for retail, residential and other uses. The land, owned by Showers Realty Co. LP, borders the west side of Shelbyville from State Route 44 at the north end, south to Old Franklin Road. The initial phase would prepare 54 acres at the south end of the property for retail development. Showers is negotiating with a company that wants to build a combination gas station-convenience shop-fast food restaurant at the site. 
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