The Steak n Shake Co.’s unusual plan to initiate a reverse stock split has the support of at least one local investment
adviser,
if in fact the company’s CEO is attempting to model it after Warren Buffett’s holding company, Berkshire Hathaway.
Cummins Engine Co. will idle 195 workers at its fuel systems plant in Columbus; another 22 workers will take voluntary leave.
The Steak n Shake Co., in an unusual gambit, plans to initiate a reverse stock split that would reduce its number of shares
outstanding from almost 29 million to just 1.4 million and boost its per-share price from roughly $12 to $240.
Steel Dynamics Inc., the nation’s fifth-largest producer of carbon steel products, said Thursday it expects fourth-quarter
earnings to decline from third-quarter levels due to lower shipments and weaker profit margins at its metal recycling operations.
Calumet Specialty Products Partners LP processes crude oil into lubricating oils, solvents and waxes, as well as into gasoline, diesel and jet fuel.
The fund would acquire experimental drugs and use Lilly R&D staff to try to prove their effectiveness, perhaps boosting Lilly’s drug pipeline.
Adding the 22-mall portfolio of Baltimore-based Prime Outlets will give Simon a total of 63 outlet malls with more than 25
million square feet of space.
Simon Property Group Inc. is doubling down on outlet malls with an agreement to buy Baltimore-based Prime Outlets, a
privately held firm that owns 22 of the giant properties.
A federal appeals court will decide whether Eli Lilly and Co. must pay $65.2 million in damages, plus royalties, over a drug-patent
claim.
Calumet Specialty Products Partners LP is selling 3 million shares of common stock to pay debt and to finance requirements
of an agreement with another company.
Columbus engine maker Cummins Inc. will idle at least 400 workers at a manufacturing facility in Jamestown, N.Y., because
of a change in emission standards that will cut production from 500 engines a day to 100.
St. Louis-based Express Scripts Inc. has completed its $4.7 billion acquisition of WellPoint Inc.’s pharmacy benefits
management business, the company said Tuesday.
Brightpoint Inc. provides worldwide distribution and integrated logistics services to the wireless communications industry.
After more than four years on the market, the Carmel estate built for Conseco Inc. founder Stephen Hilbert is listed at
$9.9 million—less than half of the original asking price and a third of the $30
million it was estimated to be worth in 2001.
Steak n Shake CEO Sardar Biglari proposed buying Western Sizzlin in January and again in May and advocated the unusual structure
of the $39 million transaction.
General Motors Co. said Monday it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better
than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.
Noble Roman’s Inc. sells and services franchises for non-traditional and co-branded food service operations under the trade name Noble Roman’s Pizza.
Carmel-based KAR Auction Services Inc. on Monday said the company turned a profit in the third quarter, although revenue decreased
slightly.
Indianapolis-based Noble Roman’s Inc. said late Monday that it posted a third-quarter profit of $459,535, or 2 cents per share—a 44-percent improvement over the same period last year. But revenue for the quarter fell to $1.9 million, from $2.2 million in 2008.
Batesville Casket Co., the world’s largest manufacturer, says it’s watching, but isn’t worried.
