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 DJIA 11,036.2 -19 / S&P 500 1,224.4 -3.9 / NASDAQ 2,220.3 +7.4
 |  |  Tonight: Mainly clear, nice. Low 64. Tomorrow: Warmer and muggy. High 89.
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|  Tuesday, July 15, 2008 |
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Steak n Shake pays former exec severance
The Steak n Shake Co. disclosed in a regulatory filing today that it paid interim president Jeffrey A. Blade the equivalent of his $305,000 annual salary in severance in connection with his departure announced July 11. Blade also will receive $12,000 to spend on outplacement services. Blade's departure, which was effective immediately, came after director Sardar Biglari was named chairman in June. Biglari, an investor who has been agitating to boost Steak n Shake's sagging sales and stock price, replaced interim Chairman Wayne L. Kelley. 
Appeals court sides with Lauth in casino suit
Indianapolis developer Lauth Property Group didn't breach a joint venture contract with a Chicago company when Lauth abandoned the joint venture and formed a partnership with a different company to build a hotel and casino in the southern Indiana town of French Lick, the Indiana Court of Appeals ruled today. The state's second-highest appeals court unanimously overturned a ruling from a Hamilton County judge that determined Lauth had violated the agreement to build the $382 million project. Chicago-based Merit Management claimed Lauth broke their joint venture when Lauth formed Orange County Holdings LLC with Bloomington billionaire Bill Cook.
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Kite execs snap up shares as stock droops
Shares of Indianapolis-based Kite Realty Group Trust hit a 52-week low this morning for the second day in a row, opening at $11.23, down from a peak above $20 last October. The shares are trading at the lowest price since the real estate investment trust debuted as a public company in August 2004, and near the low when share prices are adjusted for dividends. As the stock has dropped, Kite executives have bought thousands of shares.
Report: Notre Dame looking to Swarbrick
Jack Swarbrick, a Baker & Daniels attorney and key figure in Indianapolis professional and amateur sports, is Notre Dame's first choice to replace Kevin White as athletic director, the Chicago Tribune reported today. Citing an unidentified source, the newspaper said the deal isn't finished but that an announcement of a new athletic director could come this week. Swarbrick also is considered a leading contender for the athletic director position at Indiana University.
Cadaver exhibit coming to Claypool Court
Premier Exhibitions Inc., the Atlanta company that has come under scrutiny over the source of the bodies it uses in its cadaver exhibit, will open the show July 30 in Claypool Court near Circle Centre mall. The "Bodies...the Exhibition" exhibit will open just months before the Indiana State Museum brings its "Body Worlds III" exhibit to Indianapolis. Premier's exhibit features cadavers that are plasticized, dissected and posed.
Fire breaks out at plastics plant in Elwood
Firefighters from14 departments needed several hours yesterday to bring under control a fire at an Elwood auto parts plant that is scheduled to close by the end of the month. Elwood is between Anderson and Kokomo. Madison County Emergency Management Agency director Todd Harmeson says no injuries were reported at the Plastech Corp. plant along Indiana 37. Harmeson said the fire was contained to a paint room in the plant and that workers were safely evacuated.
Private I-69 celebration set amid tensions
Tensions surrounding the long-planned Interstate 69 extension show no sign of calming as a prominent lobby group readies for a private ribbon-cutting celebrating the start of construction. Police officers arrested more than a dozen protesters yesterday as they blocked the entrance to an asphalt plant that will supply materials to build the 142-mile highway linking Evansville and Indianapolis. The protesters, who will be charged with trespassing and resisting arrest, had bound themselves with chains, police said.
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Recycler claims lawmaker playing politics
A spokesman for an Elkhart lumber recycling company has accused a state legislator of trying to play politics with a flap over wood dust. State Rep. Craig Fry, D-Mishawaka, wrote a letter earlier this month to the Indiana Department of Environmental Management accusing the agency of failing to enforce a rule that prohibits the grinding of industrial wood waste outdoors. He says the dust spreads into surrounding neighborhoods where it causes odors and health problems.
Lingering anger said to hurt Gary development
Marketing the Gary SouthShore RailCats minor league baseball team is a struggle because area residents are still mad that the price of the team's home, U.S. Steel Yard stadium, climbed far beyond original projections. That's what the team's new owner, Waukegan, Ill., attorney Patrick Salvi, was told during a speech yesterday to the Gary chamber of commerce, the Post-Tribune of Merrillville reported. The publicly financed project ended up costing $45 million, about double estimates, when it opened five years ago.
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All the music we can handle?
With our music plates full, who else should play here? Lou Harry's A&E IUPUI apologizes to janitor
University had claimed scholarly book constituted harassment. NewsTalk Cadavers, Pan Am Plaza & more
A portion of Circle Centre now will be even deader. Property Lines Colts sales department holding its breath
A lot more than wins and losses hinge on Manning's health. The Score
From IBJ staff - Compiled by Norm Heikens
One dead, another wounded in shoot-out
A shoot-out on the northeast side has left one person dead and a 10-year-old girl wounded. Police say the unnamed 24-year-old victim was killed near 38th Street and Sherman Drive. A stray bullet struck a young girl who was a passenger in a car heading west on 38th Street. The girl was taken to Riley Hospital with non-life threatening injuries. Metro police say they're looking for at least one person, but so far don't have a motive. Fox 59 will have more at 10 p.m.
Manning has knee surgery
Peyton Manning had surgery yesterday afternoon to remove an infected bursa sac from his left knee, an injury commonly associated with bursitis. The bursa sac can swell when tendons, ligaments or muscles rub against each other. Doctors expect Manning to be ready in four to six weeks, meaning he'll most likely miss training camp but should be ready for the season opener against the Chicago Bears in nearly eight weeks.
Barack Obama to speak in Indiana again
Barack Obama will speak at Purdue University tomorrow in the senator's first trip back to Indiana since the May primary. Sen. Evan Bayh, who sided with Hillary Clinton in the primary, will join Obama. The invitation-only event will focus on bioterrorism and cyber security.
Partying with a purpose
More people are working charitable giving into birthdays, weddings and other events.
Events facing higher costs at Lucas Oil Stadium
Venue managers fear higher costs to hold events at Lucas Oil Stadium.
Cable companies contemplate killing analog
Cable television firms are wrestling with how much longer to keep offering analog signals.
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