City unlikely to reap convention hotel profits

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	Wednesday, December 26, 2007
	City unlikely to reap convention hotel profits City officials have agreed to pay $48.5 million of the $300-million cost of building a 1,000-room JW Marriott hotel in downtown Indianapolis, but a profit-sharing agreement that is part of the deal isn't likely to yield payments for the city, a hotel industry expert said. Developers of the convention hotel signed a final deal with the city Dec. 20. The contract calls for the city to receive 25 percent of adjusted profit-but only after the developers make at least a 16 percent return on all development costs.   Hancock County utility sold to Aqua Indiana Aqua Indiana Inc., a unit of Pennsylvania-based Aqua America Inc., has purchased Western Hancock Utilities LLC for about $5 million. Western Hancock Utilities, which provides wastewater services in western Hancock County, serves about 50 businesses and 2,500 residents in the Mount Comfort area. It will be managed out of Aqua Indiana's office on the northeast side of Indianapolis. Aqua Indiana, which provides water and wastewater service to about 110,000 residents in the state, will spend another $500,000 on new sewer lines.
	RV manufacturer cuts workers on soft sales Elkhart-based Forest River Inc., which makes recreational vehicles, boats and buses, has cut 40-50 jobs, reports the South Bend Tribune. The affected workers were among those who make diesel motor homes. The company, one of Elkhart County's largest employers, had 4,700 employees at the start of the year. Production had been falling off since an annual sales event earlier in the year yielded far less orders than anticipated. NiSource to spin off pipeline in IPO Merrillville-based NiSource Inc. plans to spin off one of its natural gas pipelines into a new company. NiSource hopes to raise $235 million in an initial public offering of 12.5 million shares of NiSource Energy Partners LP. The new firm will own the 3,400-mile Columbia Gulf Transmission pipeline that extends from the Gulf of Mexico to West Virginia. The separation was the result of an internal review NiSource conducted last year. Former toothpaste factory could become casino The former Colgate-Palmolive Co. plant in Clarksville could house a casino if efforts to transfer one of the state's 11 gaming licenses are successful, reports Clarksville's News and Tribune. Sen. Bob Meeks of LaGrange has authored a bill that could move an unnamed casino from Gary to the one-time state prison in southern Indiana. The plant that has produced toothpaste, shaving cream and other products for 86 years closed Dec. 21, a move that had been in the works for two years. Colgate officials have not said what they plan to do with the facility. Blog: Holiday movies Can it be that there are actually movies at your local Cineplex that grown-ups might want to see? Today at Lou Harry's A&E blog, we discuss the recent crop of holiday movies releases, including "Sweeney Todd" and "Charlie Wilson's War." From IBJ staff - Compiled by Tracy Donhardt Body found in Hendricks County An autopsy will be performed today on a man found shot inside a Ford pickup truck parked northeast of Brownsburg. Police say the truck belongs to an Indianapolis woman who reported her fiance and the truck missing on Monday. The victim has not yet been identified. Fox 59 will have more at 10p.m.
	West Virginia horse trainer killed in crash Thoroughbred horse trainer Dale Baird, 72, was among three people killed in a multi-vehicle accident Sunday on Interstate 70. Police believe strong winds and slick roads caused Baird to lose control of his vehicle east of Greenfield. James Pardo, 19, Centerville, and Jared Graham, 18, Hagerstown, also were killed when Baird's truck crossed the median. Fishers earns national recognition as affordable suburb The town of Fishers has been named one of the "Best Affordable Suburbs in America" by businessweek.com. The Web site put Fishers on its list based on several aspects of the area, including its crime rate, family structure and unemployment rate. Boilermakers, Chips square off in Motor City Bowl The Purdue Boilermakers will play Central Michigan tonight in the Motor City Bowl at Ford Field in Detroit. It's the second meeting between the football teams this year. Purdue beat the Chippewas in West Lafayette, 45-22. The Boilers have lost three straight bowl games.
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