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Benicorp cleanup praised: Customers, employees ease through liquidation

When cash ran dry last summer at Indianapolis-based Benicorp Insurance Co., it could have created a major mess. But 10 months later, Indiana insurance regulators have kept all of Benicorp’s customers covered by health insurance and given its employees a soft landing as they make the transition to new jobs. The last of a backlog of claims has been paid off. “No family in Indiana will have an uncovered claim,” said Jim Atterholt, the Indiana commissioner of insurance. “That’s a…

INVESTING: Law of supply and demand wreaks havoc on oil prices

One of the first things a student in Economics 101 learns is the fundamental concept of supply and demand. Who can forget those familiar graphs that show the two crossing curves and the critical point where they intersect-the price of the particular good. Next, we learned the effect of shifts in supply and demand, which lead to either an increase or decrease in price. Visually, those graphs allowed us to see how an increase in demand, without a commensurate increase…

IEDC to launch Web site to match startups with suppliers, vendors

For Indiana’s life sciences companies to flourish, they need to get better at romance. Helping companies meet, greet, date
and deal is the idea behind a new Web portal being built by the Indiana Economic Development Corp. to match startups with
in-state vendors, suppliers, investors or people who can help them.

Evolving mobile phones indispensable for on-the-go technology ‘addicts’

Mitch Roob oversees a state agency with a $6.5 billion budget and thousands of employees who deliver a range of services to
more than a million Hoosiers. And he’d be lost without his BlackBerry. He is just one of the many Indianapolis professionals
who use enhanced mobile devices, or smartphones, to keep tabs on their work and increase their productivity away from the
office.

BEHIND THE NEWS: ‘Cautious’ truck insurer collides with shareholder

Baldwin & Lyons Inc. has been publicly traded for nearly four decades. For most of that span, the Indianapolis company has gone quietly about its business of providing insurance for truck fleets. And investors who went along for the ride generally fared well. But recent months have been bumpy. Baldwin is in the tricky game of setting premiums, then hoping claims come in low enough to ensure a profit. The company’s financial results of late have been worse than expected….

SURF THIS: Radio Free Me: Opening Pandora’s musical box

If you’re a parent of a pre-teen, you’ll both understand and appreciate the following sentiment: I’m really sick of Radio Disney. This is why I normally listen to talk radio. But there are times when I can’t take any more of the right (Boortz, Beck, etc.) the left (NPR) or the egos (you know who you are.) That’s when I found Pandora and now that I’ve opened the box, I just can’t see going back. First, a little background. Way…

Selling a sabbatical: Few companies let workers take lengthy vacations, but some make exceptions

If you were to approach your boss about taking a prolonged leave of absence-say, for seven weeks-would he or she respond with understanding, or amusement? One particular boss, Matt Haab, founder of the south-side financial planning firm Veros Partners, was faced with that very decision. He chose to let wealth management adviser Charles Miller take his family on a lengthy trip to Honduras earlier this year. Miller, 46, joined Veros in 2004 and had been to the Central American country…

IRS requires not-for-profits to disclose more info: Organizations gearing up for new rules in 2009

For the first time in decades, the Internal Revenue Service is making a major revision to the way not-for-profits disclose information about their finances, governance and operations. Coming in the wake of scrutiny from federal lawmakers and regulators alike, the changes to IRS Form 990 that take effect next year require not-for-profit leaders to provide more information on executive compensation and potential conflicts of interest, for example. And for the first time ever, most organizations will be required to file…

Premier Properties to be liquidated

A judge reclassified the bankruptcy status of Premier Properties USA today,
clearing the way for a U.S. trustee to take hold of the company and begin selling its assets.

Pacers sell $6 tickets

The Indiana Pacers today began offering season tickets for about $6 per game. That’s one of the lowest ticket prices in the National Basketball Association. The cost is cheaper if you figure in preseason games, which are included in the…

Shoe Carnival upgraded despite profit setback

A Soleil Securities analyst upgraded the stock of Evansville-based Shoe Carnival Inc. today despite a lackluster earnings report from the company yesterday. Jeffrey Stein, who declined to discuss his reasoning, moved the retailer to “Hold” from “Sell.” Shoe Carnival said net profit in its fiscal first quarter ended May 3 plummeted nearly 35 percent, to […]

Indy Star loses another sports vet

The Indianapolis Star is about to lose its third sports department veteran since April.

Star Sports Editor Jim Lefko announced this week that assistant sports editor Pat McKee will depart the state’s largest daily…

Bigger names at Indiana casinos

It seems like Indiana’s casinos are starting to step up when it comes to consistent summer showroom entertainment. Now it’s just a matter of figuring out how to…

Maker of personal care products to expand

Canada-based KIK Custom Products plans to spend $7 million to expand its operations in Elkhart and create 190 jobs, according to the South Bend Tribune. The company makes personal care and household products for companies like Gillette, Johnson & Johnson and L’Oreal. KIK employs 700 in Elkhart and will begin hiring mechanics, forklift drivers and […]

Conseco rejects investors’ overture

Conseco Inc. rejected a proposal by activist investor Steel Partners II LP to acquire up to 22 percent of the company’s shares, according to a letter from Conseco CEO Jim Prieur. Prieur told New York-based Steel Partners that allowing it to amass such a large stake would limit Conseco’s ability to repurchase its own shares. […]

Local restaurants land at airport

Top-name Indianapolis restaurants including Shapiro’s Deli, Harry & Izzy’s, Scholar’s Inn and Slippery Noodle Inn could land restaurants at the new…

Big Ten shoots for corporate deals

The Big Ten Conference recently hired Dallas-based Learfield Sports to bring in more revenue from sponsorships, hospitality and other corporate initiatives.

Big Ten and Learfield Sports officials announced they have signed a pact where Learfield will develop an exclusive corporate partner…

Steak n Shake shares hit 52-week low

A dissident group of investors in The Steak n Shake Co. continues to add to its stake in the locally based restaurant chain even as share prices sink to new lows. Steak n Shake stock hit a 52-week low of $6.51 per share yesterday, down from more than $15 at this time last year. The […]

$5 gas could become sign of the times

Drivers are still wincing from their brush with $4 gas this month, but some station operators already are getting ready in case prices rise to $5 per gallon. A company that makes gas station signs has begun to field orders for plastic signs with the number “5” printed on them. Operators, who just months ago […]

Attorney charged with stealing investment

Bloomington attorney Phillip Chamberlain was arrested last night and charged with five felony counts for allegedly stealing money from a client instead of investing the money in a golf course project and building a house in Lawrence County. Indiana Secretary of State Todd Rokita said today Chamberlain offered to invest the money as an alternative […]