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 DJIA 11,619.4 +188 / S&P 500 1,283.5 +17.4 / NASDAQ 2,392.8 +37.1
 |  |  Tonight: Clear, cool. Low 58. Tomorrow: Sunny. High 80. Sunday: Mostly sunny, pleasant. High 80.
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|  Friday, August 8, 2008 |
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Biglari becomes CEO of Steak n Shake
Sardar Biglari, the rebel Steak n Shake Co. shareholder who in June persuaded fellow directors to name him chairman, now is taking on the additional post of CEO. He replaces interim CEO Wayne Kelley, who will retain his board seat, the company announced late yesterday. The company had been without a permanent CEO since Peter Dunn resigned one year ago. 
American Sentry Guard shuts down
American Sentry Guard, a Greenwood company named to last year's Inc. 500 list of fastest-growing private companies, has closed. Officials with the maker of high-tech surveillance systems could not be reached for comment, and doors at its offices in a former Stokely Van Camp tomato cannery were locked yesterday. The firm as of last year had 43 employees and annual revenue of $8 million.
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Kite results stagnate as costs increase
Kite Realty Group Trust late yesterday reported $11.6 million in funds from operations in the second quarter, down slightly from a year earlier. The Indianapolis-based real estate investment trust, which focuses on neighborhood shopping centers, scaled back guidance for its funds from operations for the year, citing higher interest rates and sluggish market conditions.
Eddie Merlot's adding a dozen restaurants
Fort Wayne-based steakhouse chain Eddie Merlot's said today that it plans to add 12 locations throughout the United States within the next 24 months. Owner Bill Humphries opened the first location in Fort Wayne in 2001 and expanded to Indianapolis in 2003. It now has four restaurants. For more, go to IBJ's real estate blog, Property Lines.
Keystone RV lays off 290 employees
Goshen-based Keystone RV Co., which makes recreational vehicles under 20 brand names, has laid off 290 workers across 15 plants in its home base of Elkhart County, according to The Truth of Elkhart. The company will be left with 2,600 employees after the layoffs. Keystone CEO Ron Frenech said the industry hasn't seen such difficult conditions in 15 years, as retail sale slow and dealers slash inventories.
Frenzel retires from Baldwin & Lyons board
Baldwin & Lyons Inc., an Indianapolis property and casualty insurer specializing in trucking firms, said yesterday that Otto N. Frenzel III, 77, has retired as a director. Frenzel, a former chairman of National City Bank of Indiana and Merchants National Corp., held the post since 1979. He has been replaced at Baldwin by his son, Otto N. Frenzel IV, who is chairman of the startup Symphony Bank on the far north side.
AFL-CIO ends rift and endorses Long Thompson
The Indiana AFL-CIO endorsed Democrat Jill Long Thompson yesterday, ending questions about the group's support for her gubernatorial bid. The group, a federation of 800 local and international unions that represents more than 300,000 Indiana residents, said Thompson had a record for standing up for working people and a vision for rebuilding Indiana's struggling economy. Although Democrats traditionally are supported by major union groups, the AFL-CIO had not endorsed her.
Swedish auto parts maker closing plant
Trelleborg Automotive, an auto parts maker headquartered in Sweden, plans to close its 200-worker plant in the north-central Indiana city of Peru at the end of the year. The plant makes rubber parts. The company blamed rising costs, a downturn in the auto market and "overall medium-term prospects" for the North American market.
Anderson seeks demolition of burned warehouse
Anderson officials have ordered the demolition of a 15-acre warehouse complex that was destroyed by a fire on June 1. City development director Michael Widing says owner Jay Phillips has not maintained the fence around the property, allowing people to get inside. Fire officials estimate the blaze caused $5 million in damage to the complex on the east side of the city.
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State police reconstructing 1991 homicide
This morning, the Indiana State Police and the Putnam County Prosecutor's Office began reconstructing a homicide that happened in 1991. Marsa Gipson was killed when someone threw a rock through her car windshield on I-70. Traffic will be restricted today in westbound lanes near mile marker 33. A $10,000 reward is being offered to anyone who can provide information leading to the arrest and conviction of the person responsible. Fox 59 will have more at 10 p.m.
Covered bridge destroyed by tornado to be rebuilt
A landmark covered bridge in Rush County that was destroyed by a tornado on June 3 will be rebuilt on its original site. Gov. Mitch Daniels announced today that a coalition of companies, organizations and individuals will raise private money and donate time and materials to rebuild the bridge in the tiny town of Moscow, about 35 miles southeast of Indianapolis. The twister ripped much of Moscow apart and sent its 1886 wooden bridge into the Flatrock River below.
Police use Taser on man suspected in apartment fire
Indianapolis police officers forced a man to the ground and used a Taser on him after an early morning apartment fire at the former home of Chateau Thomas Winery downtown. When officers arrived, residents pointed out the man to police, and said he might have started the fire during a loud fight with his girlfriend. Officers say the man was taken into custody after resisting arrest.
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