American Home woes creates small wake

DJIA 13,400.9 +38.5 / S&P 500 1,466.3 +0.4 / NASDAQ 2,561.8 +7.90 Tonight: Partly cloudy and warm. Low 73. Friday: A few clouds, remaining hot. High 91.
	Thursday, August 2, 2007
	American Home woes creates small wake So many mortgage opportunities are available over the Internet that the unfolding woes of a single lender, American Home Mortgage Investment Corp., have caused relatively few problems in the Indianapolis area, real estate professionals say. Some buyers have been unable to close home purchases through the Melville, N.Y., giant, but the numbers appear to be small. American Home stock collapsed early this week after the company announced it couldn't meet margin calls from its lenders.   Watchdog cheers Vectren coal decision Saying its need for electricity can be filled in other ways, Evansville-based Vectren Corp. announced yesterday that it will not go forward with a southwestern Indiana coal gasification project it planned with Duke Energy Corp. Vectren instead will turn to buying power and will rely more on natural gas-fired peaking plants, renewable
	resources and persuading customers to conserve. Jerry Polk, an attorney for Citizens Action Coalition, an Indiana group opposing the plant, said, "It just didn't make sense for them at all."   ChaCha, IU to announce research alliance ChaCha Inc., the human-assisted Internet search engine based in Carmel, this afternoon is expected to announce a research-and-development alliance with Indiana University. ChaCha founder Scott Jones will join IU Vice President for Information Technology Brad Wheeler for a news conference at IUPUI.   Settlement would halve water rate increase Indiana American Water Co.'s proposed 18-percent rate hike would be cut nearly in half under a settlement agreement with the Indiana Office of Utility Consumer Counselor filed yesterday. The proposal would allow the Greenwood-based firm a 9.9-percent increase in rates and charges. Indiana American Water serves Indianapolis-area cities, including Franklin, Greenwood, Noblesville and Shelbyville, as well as other Indiana communities.   Patents, startups hit record at IU A record 116 patents were filed by Indiana University faculty and staff in the fiscal year ended in June, the IU Research & Technology Corp. said today. The figure was roughly double the number of the past three years. Activity had retreated following a surge early in the decade. Five businesses were created, also an all-time high. Most of the increases were driven by the Bloomington campus and the IU School of Medicine in Indianapolis.   Kimball profit tumbles on higher costs Rising costs to sell and market a broadened line of electronics helped reduce fiscal fourth-quarter profit at Kimball International Inc. to $4.5 million from $10.4 million a year earlier. The Jasper electronics and furniture maker said the most recent quarter also looked poor because the same quarter a year earlier benefited from a tax break. Another factor was narrowing margins for both furniture and electronics products. From IBJ staff and Associated Press-Compiled by Norm Heikens Feds search downtown for weapons, drugs The Transportation Security Administration is conducting random searches downtown as part of a national security initiative called Operation Viper. As people get on IndyGo buses, the agents will search for weapons, drugs and anything else that could be a security problem. Violators will be arrested. Fox 59 will have more at 10 p.m.
	Police search for escaped prisoner Police are using dogs to search for a prisoner who escaped from the Westville Correctional Facility in northern Indiana. Prison officials say Kevin Fuller, Anderson, broke through a prison storage building and climbed a fence to escape. He is considered dangerous. Community celebrates life of murdered cabbie Cab driver Clarence Hoosier, who was robbed and murdered on the east side one year ago, will be remembered at 7 p.m. at St. Bridget/St. Philip's Church, 720 Dr. Martin Luther King Jr. St. The Chip Hoosier Memorial Bowling Tournament is tomorrow at Woodland Bowl, at 96th Street and Keystone Avenue. Proceeds benefit the St. Bridget/St. Philip's food pantry. Businesses help charity replace spoiled food Many local businesses are helping Gleaner's Food Bank replace perishable foods ruined over the weekend after thieves stole refrigeration copper pipes. Marsh Supermarkets teamed with Indianapolis radio stations to collect cash and food donations amounting to the equivalent of 120 tons of food. Anthem donated $10,000, while Mann Properties donated $5,000.
	Biomet claims rival tried to steal customers Biomet Inc. has filed a 13-count lawsuit against orthopedic industry rival Zimmer Holdings Inc. , alleging that Zimmer and a former Biomet executive who now works for Zimmer tried to steal customers by buying Biomet distributors. The lawsuit, filed in Marion Circuit Court, charges that Zimmer and David Montgomery, who resigned as Biomet's vice president of sales in January, misappropriated Biomet's confidential information, interfered with Biomet's contracted relationships with distributors, and attempted to buy the assets of most of those distributors.          What should replace Pan Am Plaza? Downtown's Pan Am Plaza is about to change ownership, and its ice rinks and outdoor areas are likely to be replaced. What should be built there? | Largest Indianapolis-Area Credit Unions Largest Directors' Fees of Indianapolis-Area Public Companies Largest Indianapolis-Area On-Premise Sign Companies   Visit IBJ's Web site, www.ibj.com       Indianapolis Business Journal has launched a redesigned Web site with news updated throughout the business day.     At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast.
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