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BEHIND THE NEWS: Activist poised to prevail in Steak n Shake showdown

Alan Gilman and James Williamson have served on The Steak n Shake Co.’s board a combined 39 years. It’s a good bet they won’t be around much longer. Analysts say the Texas-based hedge fund that wants to replace Gilman and Williamson on the board with two of its own representatives likely will succeed. Major shareholders are mum on how they plan to vote in the proxy battle, which will come to a head at Steak n Shake’s annual meeting March…

College endowments growing, but so is tuition

Endowments at Indiana colleges and universities are soaring, due in part to impressive investment returns in recent years.
The swelling coffers here and across the nation are stoking the debate over whether universities should be using more of their
wealth to hold down tuition increases.

Insurance insecurities: Data-breach policies touted as way to protect businesses from cyber-related losses

Several local entities, ranging from St. Vincent Indianapolis Hospital to the state of Indiana to Indianapolis Public Schools, last year experienced wellpublicized electronic security breaches involving confidential data. While the victims of the lapses and those at fault emerged relatively unscathed, such incidents underscore the ease in which personal information can be lost or stolen in today’s computerized world. With roughly 165 million people tapping into to the Internet nationally, the opportunities for security breaches are plentiful. Throw in the…

RETURN ON TECHNOLOGY: Get away from techno-gadgets and breathe deeply

When I worked in a factory some 30 years back, it was a dangerous place filled with heavy machinery, slick floors, sharp edges, overhangs and chemical fumes. Many of us envied the office workers who never got dirty and never seemed to face anything more dangerous than a bad-hair day. Now that I work in offices, I’ve discovered a whole new realm of dangers, such as carpal-tunnel syndrome and headache from squinting at computer monitors. But little did I guess…

EVERYBODY’S DOING IT: SECONDHAND PROSE: Volume discounts offered at library sale

EVERYBODY’S DOING IT SECONDHAND PROSE Volume discounts offered at library sale Inside Secondhand Prose, a CD of old-timey bluegrass music plays softly as a half-dozen volunteers quietly go about their business. They’re emptying bags and boxes, sorting through thousands and thousands of books and stocking shelves in preparation for the Indianapolis-Mar ion County Public Library’s next book sale, March 7-9 and 14-15. Six times a year, the library opens up its shop inside the Library Services Center, 2450 N. Meridian…

City doles out incentives to Defender Direct:

The city plans to designate part of an office park near 96th Street and Keystone Avenue as an “economic revitalization area” to provide tax abatements for a local company that sells ADT security systems and Dish Network subscriptions. The company, Defender Security Co., has pledged to more than triple its Indiana work force-adding more than 1,100 new jobs-over the next 10 years. The state offered the company up to $6 million in tax credits and $345,000 in training grants to…

Conseco retains manager appeal: Amid ongoing struggles, insurer landing top talent

Ten years ago, Dan Bardin was exactly where he wanted to be. He was running insurance operations for behemoth American International Group in Thailand, as Asian financial markets collapsed. “I was there right in the middle of the crisis. And that’s what I like,” Bardin said. Today, Bardin has found his way to another crisis of sorts. He’s the new president of the Conseco Insurance Group. During the year leading up to Bardin’s arrival in December, the subsidiary of Carmel-based…

EYE ON THE PIE: Taxes are toys for legislators

“I don’t believe you,” Carolyn Cornpone laughed. “It’s true,” I said. “Some members of the Indiana General Assembly have proposed tying property taxes to the income tax.” “But,” she said, “that makes no sense. They already intend to raise state and local income taxes just to pay for the property-tax relief they are currently considering.” “Who said Hoosier legislators have to make sense?” I asked. “All they think they have to do is posture for votes.” “Whatever happened to the…

Open-wheel reunion creating more business opportunities

In the end, the catastrophic sponsorship shift from open-wheel racing to NASCAR became too much to ignore, driving the long-divided
sides of Champ Car and the Indy Racing League back into a unified series.

Centaur tempted to buy Aztar casino

Indiana riverboat casinos don’t go up for sale every day. So when one becomes available, it’s bound to spark interest. Hence,
the dilemma facing Centaur Inc., the Indianapolis-based casino developer.

Commentary: Morris: From hunger to hoops

How do you go from fighting world hunger to polishing the tarnished image of an NBA basketball team? That’s the task at hand for Jim Morris, who said to a recent breakfast gathering, “I reached a point in my life when I realized that nothing I would do going forward would be as important as what I just did.” I suppose a number of us reach a similar place in our careers when we realize we have “hit the peak”…

Browning eyes airport land

Browning Investments is contemplating developing a business park just north of Indianapolis International Airport in what
would be the largest development to date in the so-called Minnesota Street corridor.

Rug dealers’ going-out-of-business sales aren’t always what they seem

Phony going-out-of-business sales long have plagued Oriental rug retailing here and across the country, dealers say. The industry
is susceptible because Oriental rugs can cost thousands of dollars, and many consumers lack the expertise to judge whether
a rug’s quality matches its price.

State goes from first to last in catastrophes: Indiana sails through 2007 without a single large weather event, rebounding from hailstorm of claims in 2006

Indiana weather is notorious for the volatile swings it can produce from one day to the next. Just this month, high temperatures in Indianapolis fluctuated about 40 degrees within 48 hours. The disparity in major storm damage that befell the state the past two years is quite unusual, though, even by Hoosier standards. Statewide property losses totaled $1.5 billion in 2006, the most in the nation, due in large part to what’s become known as the Good Friday hailstorm. Last…

Bill to help prosecution of environmental crimes dies: State continues to use fines as feds seek jail time

A bill that would have removed hurdles to state and local prosecution of environmental crimes has perished in committee, leaving the federal government virtually alone as the sole seeker of jail time for the worst offenders. With the demise of Senate Bill 199, the Indiana Department of Environmental Management will continue to resolve most pollution cases through civil penalties rather than bringing criminal charges. Last year, IDEM assessed $5.2 million in civil penalties, down from $7.75 million in 2006 but…

Legislature set to give tax breaks to big events: NCAA asks for ‘super’ perk that NFL already requires

Lawmakers last year approved a bill that would have given the NFL a onetime tax break on spending and revenue tied to the 2011 Super Bowl, a moot point once team owners awarded the game to Dallas. Now, similar legislation has passed both chambers of the General Assembly-this time extending the exemption to the NCAA, which has committed to hosting its Final Four basketball championships in Indianapolis regularly through 2039. If signed into law, the measure would allow the NFL…

Knight’s ESPN deal draws reaction

Not surprisingly, not everyone is thrilled with former Indiana University and Texas Tech basketball coach Bob Knight joining ESPN’s in-studio crew for its NCAA March Madness coverage. Knight’s move to the media…

Penn Centre delayed but not dead

Construction won’t begin on the ambitious Penn Centre proposal for at least a few more months, but the project still is a go, said developer J. Greg Allen, who also…

Will Ferrell gives bounce to ABA

New Line Cinema today is releasing its latest feature film, giving a comedic glimpse of life in the American Basketball Association. Will Ferrell plays Jackie Moon, an ABA player-owner trying to break into…