Estridge to donate $20 million from track sale

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	Tuesday, August 21, 2007
	Estridge to donate $20 million from track sale 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 Racing LLC. The sale will bring Oliver's ownership in the Shelbyville track to 97 percent. Oliver plans to expand the Shelby County facility and add slot machines. Cymbalta helps fibromyalgia pain, Lilly says Eli Lilly and Co.'s depression drug Cymbalta alleviated pain in patients with fibromyalgia, and has asked the Food and Drug Administration to approve it the 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 women, suffer from the chronic condition, which causes fatigue as well as pain in muscles, ligaments and tendons. Cymbalta generated $519.5 million of Lilly's $4.6 billion in second-quarter sales. Dreyfus opens monster biodiesel plant 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 and more than 1 million tons of soybean meal for use as feedstock. Fort Wayne company buys Indy electronics firm Riverside Manufacturing Inc. of Fort Wayne has acquired Transportation Safety Technologies Inc., an Indianapolis maker of wiring harnesses, sensors and other electronics for trucks and emergency vehicles, for an undisclosed price. Transportation Safety Technologies is near downtown on the northeastside and was owned by Arcapita, a Bahrain-based investment firm with an office in Atlanta. The company will remain in its 34,000-square-foot location.   Indy night life thrives in spite of state, report says Chicago Tribune travel writer Alan Solomon says Indianapolis' resurgence has become old hat, but that a recent trip was revealing nonetheless. "What's astonishing is, while other Midwestern cities continue to struggle, Indianapolis has become a worthwhile destination while still being surrounded by Indiana," Solomon said. "It's not anything like Muncie. Not anymore."   Fort Wayne named top minor league sports town After studying every U.S. city with minor-league sports but no major league teams, Street & Smith's Sports Business Journal concluded that Fort Wayne was the nation's No. 1 minor league sports town. Fort Wayne is home to a minor league hockey team, a class-A baseball team, an Arena Football League team and a franchise in the NBA Developmental League.   From IBJ staff -- Compiled by Norm Heikens Three arrested in southside standoff Metro police were called to an armed robbery in the 2000 block of South Laurel Street just after midnight. Officers tracked two suspects to a house on East Naomi Street. The men surrendered after SWAT units fired tear gas into the residence. A third man inside the house was taken into custody. Fox 59 will have more at 10 p.m.
	Robbery suspect flees after injuring two An armed man assaulted two people while robbing the Shell gas station at 21st Street and Emerson Avenue this morning, police say. He fled the eastside location in a blue- and cream-colored van with two other suspects. Speedway commission votes for Speed Zone The Speedway Redevelopment Commission unanimously approved the Speed Zone redevelopment project last night in its effort to turn the town into a year-round attraction. Some residents voiced concerns about the possible closing of Georgetown Road from 16th to 25th streets, while others worried they would lose their homes. The proposal now goes before the town council. Fair attendance boosted by break in heat wave Attendance at the 2007 Indiana State Fair was the eighth-highest in the event's history. Officials say more than 746,000 people came to the fairgrounds during the 12-day event. Next year will be the last under the fair's current schedule. In 2009, the State Fair will begin earlier and run 17 days.
	Noble Roman's rebuilds empire Stock in Noble Roman's Inc. is rising quickly, defying skeptics who had written off the long-ailing Indianapolis restaurant chain.   Nurse dearth feeds startup Orbis Education Services Inc. has landed $3 million from local angel investors in its bid to help universities and hospitals provide online training for nurses.   Local restaurants joining online reservation trend More local restaurants are accepting reservations online through San Francisco-based OpenTable Inc.   What do you think of the Colts off-season roster moves? Colts President Bill Polian is a master of managing the NFL salary cap, but his strategy sometimes means parting with fan favorites to keep player payrolls in line. Do you think the loss of veteran players this year will hurt the team's chances of defending the championship? | Largest Indianapolis-Area Retirement Communities Largest Indianapolis-Area Assisted-Living Facilities Does your office/department ever do any team-building social activities?   Sign up today for IBJ's Health Care & Life Sciences Weekly E-mail Alert. This weekly news-email is sent out every Wednesday morning to over 3,000 business professionals. The content will cover the business of health care, life sciences and related insurance and benefits news. Readers will find news about hospitals, medical practices and health care companies as well as updates of stories that first appear in Indianapolis Business Journal. Also included are industry stats and trends, people news, event news and news of public policy changes that affect the health care and life sciences industries. Sign up today for your free subscription.
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