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 DJIA 13,853 +46.3 / S&P 500 1,539.2 +3.9 / NASDAQ 2,811.1 +6.9
 |  |  Tonight: Clear and not as cold. Low 36. Tomorrow: Lots of sunshine, milder. High 64.
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|  Monday, October 29, 2007 |
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Genesco turns over documents in lawsuit
Shoe and hat retailer Genesco Inc. has turned over more than 1.5 million pages of internal documents in its lawsuit to force Indianapolis-based The Finish Line Inc. to complete a buyout. The $1.5 billion buyout, agreed to in June, had been scheduled to close last month. But Finish Line and its banker, UBS AG, stalled on closing because of concerns over the financial performance of the Nashville, Tenn., mall retailer. 
Conventions desert hotel-challenged Muncie
The executive director of the Horizon Convention Center in downtown Muncie estimates the center has lost half a dozen conventions since the historic Roberts Hotel across the street closed a year ago. Joann McKinney said in The Star Press that the loss of the city's last downtown hotel left convention-goers no place convenient to rest, check e-mails and make phone calls. The Indiana Recycling Coalition met in Bloomington instead of Muncie this year, and an organizer of two square dance conventions lost 150 attendees because they would have had to stay in hotels on the city's outskirts and be shuttled to the Horizon.
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Asset sale pushes Simon profit higher
Simon Property Group Inc. posted $418.7 million in funds from operations in the third quarter, a 13.3-percent increase over the year-ago period. Profit in the quarter increased 74.3 percent, to $164.9 million, due mostly to gains on sales of assets.
Analysts step up bullishness on Cummins
Cummins Inc. snagged a couple of ratings upgrades late last week from investment firms that follow the Columbus-based diesel engine maker. Citigroup recommends holding the stock rather than selling and Credit Suisse rated Cummins "outperform" instead of "neutral." The changes follow a dip in Cummins' stock price on Oct. 25 after its third-quarter earnings missed analyst expectations.
St. Louis company opens Indy design office
Barry-Wehmiller Design Group Inc., a St. Louis company focusing on manufacturing automation and engineering consulting, has opened an engineering consulting office in Indianapolis. The location, the 10th for Barry-Wehmiller, will serve Indiana, Michigan, Ohio and Kentucky, and will be staffed with 30 professionals. The region had been served from its offices in Chicago, St. Louis and Greenville, S.C.
Crane buying more from Indiana suppliers
The Naval Surface Warfare Center at Crane has increased procurement spending in Indiana four-fold in the past six years, according to the Times-Mail of Bedford. The base bought $1.3 billion of goods and services from Indiana companies in the most recent fiscal year, the newspaper reported. Most of the increase has been driven by the state's Buy Indiana Initiative, which encourages Indiana companies to sell to the base.
Old National credits managers for profit gain
Evansville-based Old National Bancorp today reported that third-quarter profit increased 13.3 percent, to $22.6 million, due to broad gains created by tighter management. Interest margins widened, credit quality improved and expenses were contained in the quarter ended Sept. 30, said the bank, which has branches in the Indianapolis area. Return on average equity of 14.2 percent was two percentage points above the same period last year. Return on average assets was 1.15 percent, up from 0.96 percent.
Escalade profit rises with increase in sales
Improved sales through specialty retailers and dealers helped lift third-quarter profit for Escalade Inc., the Evansville sporting good maker reported late last week. The $3.1 million in earnings for the quarter ended Oct. 6 was a 4.6-percent increase from a year earlier. The improvement came despite what Escalade described as eroding sales of soccer and hockey game tables across the industry.
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Fort Wayne development veteran to leave
Lincoln Schrock, who helped Fort Wayne launch an economic development organization during the depths of recession in 1982, is leaving its successor group, the Northeast Indiana Regional Partnership. Schrock, now 66, left the administration of former Mayor Win Moses Jr. to start the organization after the city became a national poster child for Rust Belt blues-an image compounded by the shuttering of Harvester's sprawling manufacturing operations, according to The Journal Gazette.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Charges expected in grandmother's death
Charges are expected to be filed against Gregory Galloway, 35, in connection with his grandmother's death. Authorities say Galloway in October 2005 stabbed Eva Groves, 85, to death in the home they shared in Hillsboro, west of Crawfordsville. A court date will be set this afternoon. |  | | | |
| No charges likely in fatal accident
Charges are not expected to be filed against a driver who lost control of his van and killed a little girl at a north-side car wash yesterday afternoon. The driver, Mark Ingram, 58, had only driven the van a few times prior to the accident. The handicapped-equipped van was towed away to check for mechanical problems.
College student falls to death
Wabash College and Crawfordsville police are investigating the death of a freshman student. Patrick Woehnker, 19, Kendallville, fell to his death from the roof of a campus building early yesterday morning. Woehnker was a member of the school's swimming and diving team as well as Lambda Chi Alpha fraternity.
IMPD swears in recruits
The Indianapolis Metropolitan Police Department today swore in its largest recruit class ever. Seventy-three recruits took the oath to start training to become police officers, as 74 veteran officers get ready retire by the end of this year. Officials say only about 14 of those officers are working the streets, while the others are sergeants or lieutenants.
Grocery move quiets critics
The developer of a $750 million mixed-use project called Venu has acquired a 13-acre site across the street where another developer had planned to build condos and a Whole Foods Market.
State fights for parcel
A legal fight is brewing over a 2.3-acre parking lot sandwiched between the RCA Dome and Lucas Oil Stadium.
Governor playing deal-maker with plan
Gov. Mitch Daniels' property-tax proposal could lay groundwork for other policy priorities.
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