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 DJIA 13,223.5 +11.5 / S&P 500 1,453.4 -1.9 / NASDAQ 2,536.4 -9.9
 |  |  Tonight: Clear and warm. Low 71. Thursday: Hot and humid. High 94.
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|  Wednesday, August 1, 2007 |
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Merged Sagamore could be tougher competitor
Cigna Corp.'s purchase of Sagamore Health Network should make it a more formidable competitor to Indianapolis-based Anthem Insurance Co. in the central Indiana health insurance market. And that could be a good thing for employers. That's the initial reaction of one local health care expert after Philadelphia-based Cigna announced this morning it is acquiring Carmel-based Sagamore, the second-largest managed care organization in Indiana. "They're [now] bringing a lot more providers to the table," said Ed Abel, director of health care at Blue & Co., a local accounting firm. 
Ohio city sues Simon over unpaid rent
The city of Columbus, Ohio, and an affiliated redevelopment group are suing Indianapolis-based Simon Property Group Inc. over unpaid rent at a local mall, according to an article in Business First of Columbus. Mayor Michael Coleman and Capitol South |  | | | |
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Community Urban Redevelopment Corp. CEO Guy Worley said yesterday that they have sued Simon and General Motors Pension Trusts, alleging they failed to pay $200,000 a month in rent.
Two months after exodus, Ginovus rebuilds
Ginovus LLC, the Carmel economic development consulting firm that lost virtually all its professional staff on May 11, has backfilled most of the positions. Ginovus has hired five professionals but likely won't fill a sixth position, a part-time slot that also was vacated without notice, said founder and Managing Director Larry Gigerich. "Our team now is even better than the one we had before," said Gigerich, who directed economic development under former Indianapolis Mayor Steve Goldsmith.
EPA won't stop BP expansion, dumping
The administrator of the U.S. Environmental Protection agency said yesterday that the agency won't stop BP's plans to expand and discharge more ammonia and suspended solids into Lake Michigan. In an interview with the Chicago Tribune, Stephen Johnson said, "In this case, it's my understanding that Indiana issued a permit that is fully compliant with the Clean Water Act. As an agency, we need to honor the permit."
Suit expected to target Dow AgroSciences pesticide
Unions and nonprofit groups said yesterday they will sue the Environmental Protection Agency in a bid to ban a popular pesticide made by Indianapolis-based Dow AgroSciences that they say sickens farm workers and rural residents. Chlorpyrifos, sold under several brand names, can be used only for agricultural purposes and in small amounts for domestic ant and roach baits. It is popular among farmers of cotton, corn, almonds and fruit trees.
Brightpoint closes huge European purchase
Brightpoint Inc. yesterday completed the purchase of the largest wireless phone distributor in Europe for $385 million in stock-a deal that balloons the Plainfield company's annual revenue from $2.5 billion to $4.6 billion. The deal for privately held Dangaard Telecom of Padbord, Denmark, creates the world's largest distributor and provider of logistics services to the wireless phone industry. The merged company has 3,700 employees and 25,000 customers in 25 countries.
From IBJ staff and Associated Press--Compiled by Norm Heikens
Driver in Nora Marsh crash may have been drinking
The Marsh store on East 86th Street opened today even though a driver plowed an SUV through the front of the store at about 2 a.m. The night manager said he saw three people | | | |
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inside the black Lincoln Navigator immediately after the crash. Two of the suspects escaped on foot, but the driver has been arrested. Police believe alcohol was involved. Fox 59 will have more at 10 p.m.
Two men in serious condition after early
morning shooting
Two men were taken to a hospital this morning after police say more than a dozen shots were fired in the 3500 block of Guilford Avenue. Police say they have no motive and no suspect information, but believe several people witnessed the shooting.
Suspected botulism case may be linked to Castleberry's recall
The state health department believes an Indiana resident might have contracted botulism Sunday after eating canned meat recalled by Castleberry's Food Co. of Augusta, Ga. Officials won't know whether the person has the illness until test results come back in a few days. Two cases have been confirmed in Indiana and two in Texas since the recall began July 19.
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| Man facing charges in exorcism case
A former ministry student is facing criminal charges after police say he hit an autistic boy during an exorcism in Bloomington. Eddie Uyesugi is accused of confinement and battery of the 14-year-old after allegedly restraining the teen, hitting him several times and yelling, "Come out you filthy demon." Uyesugi has reportedly agreed to turn himself in to Monroe County deputies.
Downtown, suburbs report higher vacancy rates
Vacancy rates downtown and in the overall suburban markets were up in the first half of the year, compared with rates at the end of last year, according to Meridian Real Estate. The vacancy rate for multitenant office buildings downtown increased to 14.6 percent in the first six months of the year, compared with a 12.8-percent vacancy rate at the end of 2006. 
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 
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