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 DJIA 13,107 -158.7 / S&P 500 1,460.7 -14 / NASDAQ 2,643.5 -52.5
 |  |  Tonight: Scattered clouds, chilly. Low 34. Saturday: Partly sunny, seasonal. High 56. Sunday: Rain showers. High 56.
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|  Friday, November 9, 2007 |
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New Jersey distributor scouting Indy area
Medco Health Solutions, a pharmaceutical distributor headquartered in Franklin Lakes, N.J., is seeking locations in the Indianapolis area where it can build a distribution center that would employ hundreds. A site put forward by Indianapolis near the downtown canal has been passed over because it wasn't large enough, according to a source familiar with the company. Other locations under consideration are in Greenwood, and Boone and Hendricks counties. 
Steak n Shake critics buy billboards
A Texas investment group that thinks The Steak n Shake Co. has been mismanaged is taking its discontent to the masses by buying billboard space in the Indianapolis area. The Lion Fund, which owns more than 5 percent of Steak n Shake, plans to say on the billboards that it wants shareholders to elect two of its principals, Sardar Biglari and Philip Cooley, to the company's board.
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Angie's List cans 38 'underperforming' workers
A sweeping internal assessment at Angie's List has resulted in 38 of the company's 382 employees being shown the door in the past few days. Most of the workers given pink slips were in sales, although others were in operations, marketing and other areas, said spokeswoman Cheryl Reed. Based at 1030 E. Washington St., Angie's List's online rating service offers consumers' assessments of home-improvement contractors and other businesses.
Royalties, fees propel Noble Roman's profit
Indianapolis-based Noble Roman's Inc. yesterday reported third-quarter profit shot up 58.2 percent, to $2.1 million, on a rise in royalties and fees for the Noble Roman's Pizza and Tuscano's Italian Style Subs restaurants it franchises. Royalty and fee income will rise in the "next few years" as it continues to open the dual-branded restaurants, the Indianapolis company said.
Brightpoint profit, revenue up on acquisitions
Plainfield-based Brightpoint Inc. posted profit of $13 million for the third quarter, a 47-percent increase from a year earlier. Revenue of $1.2 billion in the period ended Sept. 30 was up 86 percent. The wireless device distributor said results were boosted by its first-quarter acquisitions of Denmark-based Dangaard Telecom and Texas-based CellStar, as well as growth in the company's business in Singapore.
Arcadia sustains loss, sees revenue rise
Arcadia Resources Inc., the Detroit-area company that last month announced it would move its headquarters to Indianapolis, reported a $9.2-million loss in its second quarter ended Sept. 30. The parent of Arcadia HealthCare had a $735,619 loss in the same period last year.
Wish Fund snagged in subprime crisis
Indianapolis-based Indiana Children's Wish Fund has been caught in the national subprime mortgage lending crisis. The small not-for-profit, which grants wishes to terminally ill children, has filed an arbitration claim after an investment it had in an intermediate-bond fund lost $50,000 between late June and late September on an initial investment of $222,812. The bond fund had more than half its assets in mortgage-related investments as of mid-year, according to the filing.
Merck agrees to $4.85B Vioxx settlement
The maker of the painkiller Vioxx has agreed to pay $4.85 billion to settle thousands of lawsuits in one of the largest civil cases ever, according to published reports today. The drugmaker faced about 26,600 lawsuits representing 47,000 plaintiffs, and about 265 potential class-action cases filed by people or family members who claimed the drug proved fatal or injured its users. The agreement still could collapse, though lawyers with knowledge of the deal said that was unlikely, The New York Times reported.
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Will ATA leave Indianapolis entirely?
IBJ reporter Chris O'Malley reported last weekend that ATA Airlines' parent company has quietly moved its headquarters to Peachtree City, Ga. Global Aero Logistics no longer flies out of Indianapolis International Airport, but it has other operations here that employ more than 600. For now, the only executive working from the Atlanta-area headquarters is CEO Subodh Karnik. Is the handwriting on the wall for an eventual full departure? Join the conversation at IBJ's new blog, News Talk.
Correction
A story in yesterday's IBJ Daily about Indiana jobs shifting to other states rather than overseas should have said the study was conducted by the Indiana Department of Workforce Development.
From IBJ staff and Associated Press-Compiled by Norm Heikens
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Super 70 project starting to wrap up
Traffic will start shifting on Interstate 70 tonight or tomorrow morning as contractors finish up the Super 70 project. Since construction began in February, drivers have endured traffic restrictions, entrance ramp closures and bans on heavy trucks. Workers say the work should be finished by next week. Fox 59 will have more at 10 p.m.
Police search for remains of missing hair stylist
An anonymous tip had Indianapolis Metro police searching near the White River for Karen Jo Smith, last seen seven years ago. Her ex-husband, Steven Halcomb, began serving a 95-year sentence for her murder in 2005. Investigators renewed their search for Smith's remains yesterday after her family received an e-mail containing what police call specific information.
Dems may gain seat on City-County Council
Initial voting results showed Republican Bruce Schumacher ahead of incumbent Democrat Angela Mansfield in Tuesday's election. However, a voting machine card from a Pike Township precinct containing hundreds of uncounted votes has flipped the results. Now, Mansfield leads by more than 300 votes. The results won't be certified until all absentee and provisional ballots are tallied.
Preparations for Circle of Lights to start
More than 200 volunteer electricians will gather at Monument Circle tomorrow to help string lights for the centerpiece of the Circle of Lights. They'll be working on 4,784 bulbs and sockets, more than six miles of electrical wire, two miles of garland and much more. The holiday tradition is in its 45th year.
Largest Indianapolis-Area Electrical Contractors
Largest Downtown Office Complexes 
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