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Institutional Shareholder Services, a proxy advisory firm, is recommending that two Steak n Shake Inc. stockholders be elected to the Indianapolis company’s board of directors at the annual meeting on March 7. For months, Sardar Biglari, who controls San Antonio -based Lion Fund, has been appealing to Steak n Shake investors through billboards and other […]

MainSource Financial Group Inc., a bank holding company in Greensburg, said today it has acquired Louisville-based 1st Independence Financial Group Inc. in a cash-and-stock deal valued at $37 million. MainSource said the transaction brings a long-desired presence in Kentucky. 1st Independence has eight branches in Kentucky and Indiana. The deal has been approved by directors […]

Sharon McShurley, Muncie’s new mayor, is scrutinizing economic development spending after learning the $1.5 million in income taxes the city collects annually will fall short by about $89,000. McShurley, a Republican who stunned Democrat Jim Mansfield in a recount in December, said she is considering reallocating some economic development dollars to matching funds that would […]

Adam Herbert agreed with Athletic Director Rick Greenspan’s recommendation to hire basketball coach Kelvin Sampson, the former IU president said in an interview published today in The Florida Times-Union of Jacksonville. In his first interview about Sampson and the recent NCAA allegations about improper recruiting calls, Herbert said he, Greenspan, Sampson and two IU trustees […]

The Anderson Parks Board has agreed to let the city’s redevelopment commission sell land that Hoosier Park horse track sits on to the track’s owner, Indianapolis-based Centaur Inc. Hoosier Park leases the land for nearly $190,000 a year, according to The Herald Bulletin of Anderson. Centaur would buy the land for $750,000 over five years […]

A reorganization by New York-based bank giant Citigroup has resulted in 194 layoffs at the company’s statement-processing offices in South Bend. The workers were told last week that their jobs would disappear by the end of June, according to the South Bend Tribune. The operation, formerly Associates First Capital, was acquired by Citigroup in 2000.

An improved economy might result in construction on the Cabela’s store at Greenwood resuming as early as next year, according to the Daily Journal of Franklin. The project was brought to an abrupt halt by the Sidney, Neb., outdoor retailer in January after the slowing economy began to hurt sales at stores it opened last […]