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BEHIND THE NEWS: Steak n Shake roadblock sends dissident on detour

Since he began scooping up shares of The Steak n Shake Co. last year, dissident investor Sardar Biglari has been forthright about his intentions. Perhaps to a fault. The Texan’s investor group in January laid out its strategy in a 10-page letter. First, it would push to elect two of its representatives to the nine-member board at the annual meeting. Then, it would ask shareholders to call a special meeting, where he hoped they would replace the majority of the…

EYE ON THE PIE: Home cooking not always good for us

The conversation between my neighbors, Paula and Paul Plain, interrupts the enjoyment I get from sitting on the deck in the dark of the night. They generally agree on whatever subject they discuss, but their voices nonetheless displace nature’s quiet. Thus, I find myself an unwilling participant in their nocturnal conversations. Last week, they were discussing the idea that young adult Hoosiers should be encouraged to remain in Indiana. “I’m so glad,” Paula crooned, “that 80 percent of central Indiana’s…

IMA Art & Nature Park outdoor exhibits will change regularly

Already draped in an ever-changing natural backdrop, the site for the Indianapolis Museum of Art’s Art & Nature Park will
come to life in 2009 through eight pieces of art commissioned for the setting. But unlike traditional sculpture parks that
feature permanent artwork, the IMA’s $25 million outdoor gallery will change regularly.

INVESTING: Betting against the crowd is a good way to invest

It’s time for a gut check on sentiment. In the stock market, sentiment is a contrary indicator, meaning that if everyone thinks the same thing (such as oil is going to $200 a barrel soon), your safer bet is to go the other way. Wall Street history is loaded with juicy examples of this theory at work. One of my favorites is Time magazine’s making Jeff Bezos, the CEO of Amazon, Man of the Year in 1999, right before the…

Officials turn up call for 2-year degrees: State putting emphasis on higher education options

State and local leaders are turning up the amp on the importance of higher education, but they’re also trying to tune students into the message that being college-educated doesn’t have to mean spending four years at a university. In recent weeks, both Indianapolis Mayor Greg Ballard and Indiana Gov. Mitch Daniels have loudly proclaimed the state’s need for more workers with twoyear degrees. While government officials have long said the state needs a more educated work force to attract business,…

Developers vie for property by Central Library

Two high-profile property developers are squaring off for the rights to transform a six-story apartment complex adjacent to
the Central Library downtown. Van Rooy Properties and Buckingham Cos. both submitted proposals to redevelop the Ambassador
apartments at 39 E. Ninth St., just north of the library.

IPIC’s BioWorksU virtual effort wins acclaim:

A new Web site developed locally and designed to attract youngsters to careers in the life sciences sector now shares something in common with the wildly popular Club Penguin site. The Indianapolis Private Industry Council, with assistance from locally based Creative Street Media Group, created BioWorksU.com. And while more educational and likely more appealing to a larger age group than Club Penguin, the two were among recent Webby Awards finalists. Called the “Oscars of the Internet” by The New York…

Indy Racing League enters talks for new TV deal: Negotiations start this month with ABC/ESPN, but deal may be shopped to other networks to gauge interest

After the checkered flag dropped on this year’s Indianapolis 500, the green flag fell on negotiations for a new television contract between the Indy Racing League and ABC/ESPN. The current deal doesn’t expire until the end of next season, but the contract calls for the parties to discuss an extension starting this month. Sources close to both sides said ABC/ESPN pays the IRL about $10 million annually, but getting that kind of guaranteed cash beyond 2009 could be difficult. Still,…

NOTIONS: This Father’s Day, leave some advice in writing

Father’s Day is Sunday. It also will be my dad’s 75th birthday. I’ve not decided what to give him. I do know what gift he’s giving us. Last year, my dad bought a laptop computer. One day, he sat down and began writing to his grandkids. “This is a long letter to you about one life, lived so far from 1933 to 2008, to acquaint you with what that life was like for the person who lived it,” he began….

Interns line up for Children’s Museum spots: Popular program doesn’t pay, but students get fun, valuable experience

Since arriving at The Children’s Museum of Indianapolis, Tiffany Wedekind has rubbed shoulders with comic book characters, connected schoolteachers to learning activities, and made plans to travel abroad to help gather ancient Egyptian artifacts. She is not a seasoned veteran of the museum field, but a 22-year-old intern who will graduate from Marian College in December. What’s more, Wedekind is not alone. She is among at least 22 college students who will share similar experiences there this summer. Exposing interns…

Rising fuel costs may mean comeback for freight trains

Spiking diesel fuel prices have deflated trucking stocks and made road kill out of many a small motor carrier. It’s sweet
irony for anyone who’s worn a pinstriped cotton cap to work. The rising price of diesel is poised to invigorate a mode of
transportation that trucks nearly annihilated–the 40 freight railroads crisscrossing the state.

ECONOMIC ANALYSIS: Enlightened law ended monopoly in cable TV business

A couple of weeks ago, I returned home one evening to find our old cable TV box sitting on the kitchen table. My wife had grown tired of the high price for our bundled cable TV and broadband Internet and called a rival company. When she was quoted the new price, it was out with the old and in with the new at record speed. It turns out that there was a nice, new service available on our street that…

Commentary: HealthNet casts a wide one

Indianapolis is becoming a much more international city. Consider some of the facts: Central Indiana’s Latino population is now 100,000, fifth-fastest-growing in the United States; one in five scientists at Eli Lilly is Chinese; and 2,000 Burmese immigrants live here. These tidbits and mounds of other information about immigration in our community can be found in the International Center’s coffee-table book, “New Faces at the Crossroads: The World in Central Indiana.” The book also contains the stories and beautiful photographs…

Local mental health centers caught in funding limbo: Federal effort to shift costs to states on hold, but not-for-profits’ budgets for next year must be completed now

At Indianapolis-based Adult and Child Mental Health Center Inc., Executive Director Bob Dunbar has developed a contingency plan as he works on the agency’s $25 million budget for next year. He has two versions of a spending plan for the center, which provides mental health services for 4,200 children and adults a year. One includes moderate cuts tied to state funding changes, and the other deals with massive cuts pushed by the federal government. In the worst-case scenario, as much…

Business leaders battle over real estate left behind by Payton Wells

The Malibus and Impalas disappeared from Payton Wells Chevrolet more than 18 months ago, but the controversy over the defunct
dealership at 1510 N. Meridian St. is far from being in the rearview mirror for some of the city’s top businesspeople and
developers. A court battle over the dealership’s properties could determine when and how the roughly six acres of prime land
are redeveloped.

Corley reflects on career as he prepares to retire

Bill Corley, who announced today that he will retire after 25 years as CEO of Community Health Network, says doctors nearly ran him out of the hospital within months of his arrival in 1984. Doctors mutinied because they tied Corley’s appearance to a new approach by the federal government to limit reimbursements for certain services. […]

Experts predict slow Indiana economy

Expect the state economy in coming months to feel like a head cold that won’t go away. And the Indianapolis area won’t escape the doldrums. That’s the take from the latest quarterly forecast issued by a group of Indiana University economists. The Center for Econometric Model Research says the state will suffer declining employment and […]

Board eyes building near Lucas Oil

The Capital Improvement Board likely will buy one-story building across the street from the new Lucas Oil Stadium. The board has an option to purchase the Easterday property, which it has been…

IMA nature park takes shape

Check out this new rendering of the visitor center for the $25 million Virginia B. Fairbank’s Art & Nature Park at the Indianapolis Museum of Art. Check out more images and…