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 DJIA 12,884.1 -126.1 / S&P 500 1,422.9 -16.8 / NASDAQ 2,561.3 -35.5
 |  |  Tonight: Cold, rain, windy. Low 36. Thanksgiving: Cold, windy with snow. High 39. Friday: Windy, cold. High 38.
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|  Wednesday, November 21, 2007 |
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WellPoint unit withdraws over disclosure rift
WellPoint Inc.'s subsidiary in Connecticut will lose its contract to manage part of a $700 million insurance program for that state's poor children and their parents after the Indianapolis health insurer repeatedly refused to disclose information about its practices, the Hartford Courant reports. WellPoint's Anthem Blue Cross and Blue Shield of Connecticut threatened to cancel the contract if it was forced to disclose rates it pays doctors and the company's practices for denying prescription drug payments, the newspaper reported. 
Covance buys partially built Lilly plant
An insulin manufacturing plant that Indianapolis-based Eli Lilly and Co. began building in Prince William County, Va., has been acquired by Covance Inc. for an undisclosed price. Lilly announced in January that it had stopped construction because insulin demand wasn't as high as anticipated. Covance, a drug development services company headquartered in Princeton, N.J., said it will spend $175 million to turn the site into a early drug development laboratory and ultimately staff it with about 550 workers. Covance has a facility at 8211 Scicor Drive north of Indianapolis International Airport.
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State commission approves planned coal plant
State regulators yesterday granted Duke Energy permission to build a $2 billion coal gasification plant in southern Indiana. The Indiana Utility Regulatory Commission unanimously approved the plan for the 630-megawatt plant at Edwardsport, which would replace an aging traditional coal-fired plant that generates about 130 megawatts.
Report: Ashcroft firm to monitor Zimmer
The law firm of former U.S. Attorney General John Ashcroft is set to collect more than $52 million to help the U.S. Attorney's Office in New Jersey monitor leading manufacturers of knee and hip replacements, The Star-Ledger of Newark reported yesterday. Ashcroft is among five private attorneys whom U.S. Attorney Christopher Christie hand-picked to monitor the implant makers, the newspaper reported. The arrangement, disclosed in SEC filings, calls for Indiana-based Zimmer Holdings, of Warsaw, to pay Ashcroft Group Consulting Services an average monthly fee between $1.5 million and $2.9 million.
Court approves Remy bankruptcy plan
Remy International Inc. yesterday won approval of a Chapter 11 reorganization plan designed to cut $360 million out of the auto-parts supplier's debt load. Judge Kevin Carey of the U.S. Bankruptcy Court in Wilmington, Del., approved Remy's plan at a hearing, ending a brief stay under court protection for the Anderson company.
Blog: Anthem loses disclosure fight
The Blue Cross and Blue Shield plan that Indianapolis-based WellPoint Inc. operates in Connecticut has backed out of managing part of an insurance program rather than disclose the rates it pays doctors and its approach to denying prescription drug payments. Did WellPoint make the right call? How deep should government dig into a company's internal operations? Join the conversation at IBJ's new blog, News Talk.
Note to readers
IBJ Daily will not be published tomorrow and Nov. 23 in observance of Thanksgiving.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Travelers hitting the airport for Thanksgiving
People flying in and out of Indianapolis International Airport today hope wet weather in Chicago won't make it difficult for them. Airport officials expect more than 15,000 people to travel through Indianapolis International today. They say that's down more than 2,000 people from last year because there are fewer seats on fewer airlines. Fox 59 will have more at 10 p.m.
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Gas prices don't dissuade Turkey Day drivers
Of the people expected to travel over the Thanksgiving holiday, 92 percent are driving. That's up from last year despite gas prices being 80 cents higher. Indiana State Police have increased highway patrols through Sunday.
Thieves make off with $100,000 in merchandise
A tractor trailer loaded with $100,000 in electronic games and toys was stolen from Conway Distribution Center outside Columbus yesterday. The truck was eventually found emptied out on the lot of a Conway client near Chicago. Officials say the goods were about to be delivered to several Wal-Marts within 25 miles of Columbus.
Politician trying to end cable, sports networks feud
State Rep. Scott Reske, D-Pendleton, hopes to end the battle between the Big Ten Network and local cable companies by trying to pass legislation that will provide sports fans with access to channels like the Big Ten and NFL Networks. Reske also said he wants a third party to mediate the dispute.
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Office condos on holiday shopping lists
Clearance sales are found more often in retail establishments, but six office condominiums in Carmel are being sold with just that red-tag wording. The owner of the offices located on Adams Street between Meridian Street and the Carmel City Center is Park Place Centre LLC, which is comprised of Paul Ponsler as managing partner and others whom he declined to name. The group develops and sells investment properties, mainly in Hamilton County. Among its projects is the Carmel Drive Medical Center. Ponsler said the units, which are part of a 21-unit office complex his group developed in 1999, are being sold at reduced prices to rid the group of the last bit of inventory. 
Largest Indiana Colleges and Universities 
What kind of holiday party, if any, does your company have these days?  | | | |
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