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 DJIA 13,758.1 +181.2 / S&P 500 1,535.4 +16.7 / NASDAQ 2,679.1 +27.4
 |  |  Tonight: Passing storms possible. Low 60. Tomorrow: Morning clouds, cool and breezy. High 78.
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|  Thursday, July 12, 2007 |
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Loss of race hurts both F1, Speedway,
experts say
Motorsports experts are divided over who is the biggest loser after the announcement that Formula One will not return in 2008 to Indianapolis Motor Speedway. One observer, Tim Frost, president of the Chicago consulting firm Frost Motorsports, said the Speedway loses a global marquee event, while F1 loses one of the world's largest markets for its teams. Local tourism officials also consider the loss a blow to their industry. 
Others builders won't follow KB from Indy, experts say
KB Home Inc. probably will be the only national builder to abandon the Indianapolis-area market, local observers say. Dallas-based Centex Corp., Pulte Homes Inc. of Bloomfield Hills, Mich., and Atlanta's Beazer Homes USA are even more likely to stay now that KB is leaving, |  | | | |
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said Steve Lains, CEO of the Builders Association of Greater Indianapolis, a trade group of housing contractors. Dax Meredith, who directs the Indianapolis office of American Metrostudy Corp., a housing research firm based in Houston, said he hears nothing about other national builders leaving central Indiana.
Carmel firm to turn gravel pit into 500-acre campground
Leo Brown Group of Carmel intends to develop an abandoned Irving Materials Inc. gravel quarry straddling Johnson and Morgan counties, turning it into a 500-acre campground. Brown, which has received preliminary approval from Morgan County officials and is to meet with Johnson County planners, thinks Indianapolis-area residents would prefer a short drive to camp and fish over the more-distant state parks. The area is near Bluff Creek Golf Course and west of Old State Road 37, according to the Daily Journal of Franklin.
Steak n Shake bulks up 'Lighter Choices' menu
Slumping Steak n Shake will stir up its menu by adding entree salads topped with walnuts and dried cranberries along with more frozen yogurt milkshakes to its "Lighter Choices" offerings. The new choices will help the Indianapolis-based restaurant chain keep pace with a long-standing industry trend and lure "veto vote" diners who persuade their companions to eat elsewhere because they don't like the menu, analysts say.
Greensburg machine shop to add 80 workers
M&S Precision Machining Inc. in Greensburg plans to double its workforce, to 160, by the end of 2009, the company said today. The expansion was spawned by requests from existing customers including Indianapolis-based Delta Faucet Co., which operates a manufacturing plant in the southeastern Indiana town, according to sales and marketing manager Chris Vance. Lt. Gov. Becky Skillman is scheduled to announce the expansion at 1:30 this afternoon.
Dry spell could cost the state $250 million
This summer's dry weather could cost Indiana about $250 million in diminished corn and soybean yields, according to an early estimate from a Purdue University agricultural economist. The forecast, based on government crop-conditions reports, could change based on upcoming weather, economist Chris Hurt said. Frequent moderate rains and mild temperatures could reduce those projected losses, while more hot, dry weather could make yields even worse.
Water dispute at Holiday World sparks lawsuit
A water utility has sued the town of Santa Claus in southern Indiana and the company that owns the Holiday World theme park. Santa La Hill, a rural water utility, buys its water from the town of Santa Claus and sells it to Holiday World-an arrangement the utility says is guaranteed by the U.S. Department of Agriculture. But the company that owns Holiday World and Splashin' Safari-Koch Development-recently sent the utility a letter saying it no longer will buy water from the company, instead buying directly from the town. | | | |
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High-speed chase leaves one dead
A high-speed police chase early today on Indianapolis' south side left motorcyclist Tyler Rose, 20, of Indianapolis, dead. Metro police say an officer heard several motorcycles cruising along U.S. 31 near Southport High School around midnight and tried to stop Rose for speeding. Officers suspect Rose took off because he was driving on a learner's permit and had been ticketed recently. The chase ended with an accident at Banta and McFarland roads that separated Rose from his bike. Fox 59 will have more at 10 p.m.
Greenfield police search for missing postal worker
The search continues for a Greenfield postal worker missing since his vehicle was found unattended along his delivery route yesterday afternoon. John Jordan, 48, was last seen at the intersection of Sycamore and Chestnut streets. Federal post inspectors have set up a communications center at the Greenfield Post Office. |  | | | |
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Lawmakers announce property tax relief plans
Gov. Mitch Daniels has extended the deadline for counties to raise income taxes in order to offset hefty future property tax increases. State Republicans, meanwhile, have called on local governments to allow homeowners to pay only what they owed last year, with increases paid in installments. Marion County Treasurer Mike Rodman will announce details of his installment plan today, but it must be approved by the City-County Council.
Super 70 preparing for second phase
The Super 70 construction project is moving to the south side of Interstate 70 today. A crossover will be in place at the center of the construction site, near Emerson Avenue. Crews also are expected to open a couple of ramps, including the westbound ramps for the Shadeland and Emerson exits.
Summer Celebration kicks off tonight
The Indiana Black Expo's 37th Summer Celebration kicks off at 7 p.m. at Light of the World Christian Church, 4750 Michigan Road. Organizers hope the lineup for the ecumenical event and new traffic plans will ensure a fun and safe time.
Colts conquer ESPY awards
The Indianapolis Colts were named best team at last night's ESPY awards in Los Angeles. Tony Dungy was named best coach, and Peyton Manning captured personal honors for his championship performance in the Super Bowl. Manning lost out to the San Diego Chargers' Ladainian Tomlinson for athlete of the year.
United HealthCare among bidders for state's low-income health plan
Minneapolis-based United HealthCare Services Inc. is one of five bidders to administer the state's Healthy Indiana Plan, said United HealthCare spokeswoman Debora Spano. The plan is intended to cover low-income Hoosiers who do not have health insurance. United HealthCare administers similar programs in other states, including one in Rhode Island for mothers and children that is used as a model in other parts of the country, Spano said. The company regularly bids on such programs, she added. Last week's issue of Health Care & Life Sciences Weekly reported that Anthem Blue Cross and Blue Shield , a subsidiary of Indianapolis-based WellPoint Inc. , also is among the five submitting proposals to the Family and Social Services Administration. 
What do you think about income, property tax hikes?
Mayor Peterson is proposing a hike in Marion County income taxes to pay for public safety. Should the mayor have delayed this request in light of the steep jump in property taxes?  | 
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