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Shares of Steak n Shake Co. rose only 0.2 percent, to $15.30, this morning after the struggling Indianapolis-based hamburger chain announced late yesterday that it has hired the Wall Street firm Merrill Lynch & Co. as a financial adviser to help examine “potential opportunities.” Specifically, Merrill Lynch will advise a special committee of three independent […]

The chief of the Anderson Police Department is a huge Indianapolis Colts fan, but his support for Forest Lucas may be as endearing. Lucas’ $122 million investment to secure naming rights for the new Indianapolis Colts stadium caught the attention of Chief Frank Burrows, who was contemplating switching to synthetic motor oil for the department’s […]

Indianapolis-based Alpha Tau Omega Fraternity has been sued by the family of a University of Mississippi student who died in a 2004 fire at its Ole Miss fraternity house. The lawsuit alleges the fraternity refused to sponsor a safety program following the fire, according to The Clarion-Ledger of Jackson, Miss. Wynn Smiley, CEO of the […]

Indianapolis-based WellPoint Inc. has received a three-year contract to administer medical claims for the California Public Employees Retirement System, according to Bloomberg. CalPERS, which buys health insurance for 1.2 million people, is one of the nation’s largest buyers of health benefits. WellPoint subsidiary Blue Cross of California has had the contract for eight years. UnitedHealth […]

Michigan-based Ramco-Gershenson Properties Trust and a Chicago-based partner, Heilman LLC, have purchased Nora Plaza on the northeast side for an undisclosed price. The 304,000-square-foot center is 93-percent occupied and anchored by a Target store, plus Wild Oats Natural Marketplace and Marshalls. The seller was locally based PK Partners LLC, which owns several other retail centers […]

Steak n Shake Co. has hired the Wall Street firm Merrill Lynch & Co. as a financial adviser to help examine “potential opportunities,” the struggling Indianapolis-based hamburger chain said this evening. Specifically, Merrill Lynch will advise a special committee of three independent directors that was appointed recently. The committee is helping interim CEO Alan Gilman […]

A long-time economic development consultant said Honda Manufacturing Indiana’s decision to limit applications for production jobs to people living in only 20 Indiana counties is “unusual.” However, Don Iannone, of Mayfield Village, Ohio, quickly added that the Japanese automaker likely made a well-considered strategic decision. “Honda pretty much knows what it needs to do to […]

Four of five Hoosiers will not be eligible to apply for the roughly 2,000 production jobs at the Honda Manufacturing of Indiana plant in Greensburg, the Japanese automaker announced today. Honda Manufacturing of Indiana said in a news release that it plans to begin advertising the positions in newspapers Aug. 26. The deadline to apply […]

Hansen & Horn Group Inc. is sailing through the slump in housing construction relatively unscathed because it began shifting out of the tract-home market about four years ago-while the industry still was going gangbusters. The local builder had operated in the upper end of the tract-home segment, but feared it couldn’t continue competing with giants […]

Evansville-based Shoe Carnival Inc. said today that profit in its fiscal second quarter fell to $167,000, down from $2.9 million in the same period of 2006. Sales for the quarter ended Aug. 4 increased 5.4 percent, to $154.8 million. However, same-store sales were down 7.1 percent. The shoe retailer attributed the decline to fewer shoppers, […]

A psychiatrist who advises the state of Minnesota on which drugs to use in Medicaid programs received $488,953 in speaking fees from Indianapolis-based Eli Lilly and Co. over eight years through 2006, according to an Associated Press analysis. The fees, received by John E. Simon, have raised questions about whether Simon was influenced to recommend […]

Fujitsu Ten Corporation of America plans to stop making automotive electronic controls at its Rushville plant by Nov. 9 and send the work to a sister facility in Reynosa, Mexico. Competitive pressures forced the Japanese company to look elsewhere to control costs, said Human Resources Manager Jim Thomas. About 60 workers will remain at the […]

For two years in a row, the Indianapolis-Carmel metro area has been the nation’s most affordable major housing market, the National Association of Home Builders and Wells Fargo said yesterday. An index shows that 87 percent of new and existing homes sold in the second quarter were affordable to families earning the area’s $63,800 median […]

After studying every U.S. city with minor-league sports but no major league teams, Street & Smith’s Sports Business Journal concluded that Ft. Wayne was the nation’s No. 1 minor league sports town. Rounding out the top five were Hershey-Harrisburg, Penn., Oklahoma City, Okla.; Rochester, N.Y., and Reading, Penn.. Cities were judged on number of teams, […]

Central Indiana homebuilder Paul Estridge Jr. plans to donate $10 million to the Central Indiana Community Foundation’s Legacy Fund and $10 million to unspecified Indiana businesses. The donations come from the $53.5 million in proceeds Estridge is expected to receive by selling his 34-percent stake in the Indiana Downs horse-racing track to South Bend-based Oliver […]

The largest integrated soybean-based biofuel production facility in the world opened today near Claypool. The northern Indiana plant, owned by the French agribusiness giant Louis Dreyfus Commodities has enough capacity to consume nearly one of every six bushels of soybeans grown in the state. It’s big enough to produce 88 million gallons of biodiesel fuel […]

Eli Lilly and Co.’s depression drug Cymbalta dampened pain in patients with fibromyalgia and has asked the Food and Drug Administration to approve it for secondary use, the Indianapolis pharmaceutical maker said today. Patients experienced less pain beginning a week after taking the treatment, a study showed. Two percent to 4 percent of Americans, mostly […]