News & Analysis

Steak n Shake unveils new restaurant prototype

April 9, 2010
Cory Schouten
The company now known as Biglari Holdings Inc. on Thursday unveiled a new prototype for future Steak n Shake restaurants. CEO Sardar Biglari said the goal is to open about 1,500 new franchise locations in the coming years.
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Lilly diabetes drug may have cancer risk, FDA says

April 9, 2010
 IBJ Staff and Bloomberg News
Once-weekly form of Byetta is awaiting the FDA's OK. Analyst predict the new version of the drug, if approved, could rack up sales of $2 billion annually.
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AIG's American General unit said to be seeking $3B term loan

April 9, 2010
Bloomberg News
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar, according to a source who declined to be identified because the discussions are private.
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Butler locks up Stevens with new contract

April 8, 2010
Anthony Schoettle
The 12-year deal signed by men's basketball coach Brad Stevens extends his Butler contract through the 2021-22 season.
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Marion County library may close six branches

April 8, 2010
Kathleen McLaughlin
The Indianapolis-Marion County Public Library could close up to six branches or reduce their hours in order to close a budget shortfall.
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Financial backer agrees to drop suit against Lauth

April 8, 2010
Scott Olson
Affiliates of Lauth's largest financial backer, Inland American Real Estate Trust in Chicago, agree to dismiss their suit against the Indianapolis-based developer, and also withdraw a request to have a Chapter 11 trustee appointed.
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UPDATE: Steak n Shake shareholders OK name change

April 8, 2010
Cory Schouten
Steak n Shake Co. shareholders on Thursday approved changing the parent company’s name to Biglari Holdings Inc. Shares begin trading under the new name on Friday.
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Catholic schools get final OK to become charters

April 8, 2010
 IBJ Staff
The City-County Council gave its official blessing to two Catholic schools in poor neighborhoods converting into secular charters; they will receive new names by fall.
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Steak n Shake CEO woos investors in New York City

April 8, 2010
Cory Schouten
Steak n Shake Co. doesn't operate a single restaurant in New York City, where it is hosting its annual meeting Thursday. But the world financial capital is chock full of high-profile investors intrigued by Steak n Shake CEO Sardar Biglari's plans to harvest cash from the 485-location restaurant chain and deploy it on other investments.
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City's No. 2 real estate agency changes brands

April 8, 2010
 IBJ Staff
Century 21 Realty Group is now Prudential Indiana Realty Group, affecting 418 agents in 12 offices around Indiana.
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Shelbyville insulation company laying off 100 workers

April 8, 2010
Knauf Insulation will idle employees in June for at least six months, as demand for its building products remains soft.
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Louisiana gets $20M in Lilly drug settlement

April 7, 2010
Associated Press
Louisiana was one of 13 states that filed individual suits in state courts over allegations that Lilly pushed Zyprexa for uses that had not been approved by federal regulators.
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Indiana high court hears casino card-counting case

April 7, 2010
Associated Press
An Indianapolis man sued the Grand Victoria Casino and Resort after it banned him from the blackjack table in 2006. The casino won the suit, but the state appeals court reversed that decision. The casino asked the high court to weigh in.
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Massa says office 'should inspire public confidence, not public cynicism'

April 7, 2010
Cory Schouten
Marion County Prosecutor Carl Brizzi has said he has no plans to resign, despite Mark Massa's call Wednesday morning for him to step down. Brizzi will be eligible for a public pension if he finishes his second term Dec. 31.
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Four charged with income tax fraud

April 7, 2010
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to report income or file certain tax forms.
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Carter Lumber plans to hire as many as 100 in Franklin

April 7, 2010
J.K. Wall
Ohio-based Carter Lumber plans to open new wholesale lumberyard and truss-making facility in Franklin in June.
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Massa calls on Brizzi to resign

April 7, 2010
Cory Schouten
Mark Massa, former general counsel for Gov. Mitch Daniels and the Republican candidate for Marion County prosecutor, calls on Prosecutor Carl Brizzi, also a Republican, to step down in the wake of an IBJ investigation.
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Rolls-Royce bags $51 million Marine contract

April 7, 2010
Four-year agreement to provide engines for tanker aircraft is the latest military contract snared by Rolls-Royce's local operations.
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Hospitals stand to gain big by hiring docs

April 7, 2010
To understand why hospitals are so eager to employ physicians—and prevent them from owning their own facilities—look no further than the latest data on how much doctors are paid compared with how much revenue they generate for hospitals.
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Members: Anthem health plans subpar

April 7, 2010
J.K. Wall
Anthem Blue Cross and Blue Shield of Indiana fell slightly below average for customer satisfaction among scores of health plans, according to a new survey by California-based J.D. Power & Associates.
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Obama, Manning, Letterman help Butler celebrate

April 6, 2010
Associated Press
From the White House to Main Street, the Bulldogs opened eyes and turned heads.
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Medical oxygen plant in Plainfield closing; 130 to lose jobs

April 6, 2010
Relocating operations to an existing plant in Canton, Ga., will result in the loss of 130 jobs.
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NCAA title game earns best TV rating since 2005

April 6, 2010
Associated Press
More than 48 million viewers watched at least some of Monday night's game, the most since 50 million tuned in for Arizona-Kentucky in 1997.
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Butler loses title game, but wins massive publicity

April 6, 2010
Anthony Schoettle
Butler received so many visits to its main Web site, school officials had to beef up the computer system. School President Bobby Fong is commissioning a study to gauge the value of the publicity earned through the Bulldogs' run to the Final Four.
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Franklin College launches $85 million building campaign

April 6, 2010
J.K. Wall
Small liberal arts school in Johnson County plans to modernize and expand athletic facilities, classrooms and residence space.
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