Housing slump hammers hardwood industry

DJIA 13,179 -20.5 / S&P 500 1,450.5 -2.5 / NASDAQ 2,611.7 +10.7 Tonight: Showers move in, mild. Low 40. Tomorrow: Morning showers, cloudy and milder. High 48.
	Thursday, December 20, 2007
	Housing slump hammers hardwood industry Cabinet and furniture makers are experiencing their most harrowing times since the Rust Belt recessions of the early 1980s as homebuilders cut back in the wake of the subprime credit crunch. John Land, chief financial officer of Cole Hardwood Inc. in Logansport, said the industry overall might have seen as much as a third of its revenue evaporate in the past year. "The hardwood industry is in the doldrums," said Land, a former president of the Indiana Hardwood Lumberman's Association, a trade group. "It's a bad one."   Distribution center could be built in Shelbyville A 600,000-square-foot warehouse and distribution facility might go up in Shelbyville if a request to annex and rezone about 124 acres near the city southeast of Indianapolis is approved, according to The Shelbyville News. Hoosier Property Holdings LLC of Cincinnati brought the proposal before the Shelbyville Common Council on Dec. 17. The development could hire as many as 300 workers by 2009.
	RV makers dodge bullet in energy bill Exceptions carved into the energy bill signed yesterday by President Bush probably spared the recreational vehicle industry from a sales slide. The effort to improve fuel economy does not apply to chassis that carry RVs or vehicles that tow RVs. The exceptions have the industry breathing a sigh of relief, according to The Truth in Elkhart.   State senator pushing Indiana to join compact A state lawmaker is pushing legislation that calls for Indiana to join a regional compact intended to prevent arid Sun Belt states from tapping water from the Great Lakes. Sen. Beverly Gard, R-Greenfield, said her bill is supported by both business and environmental groups that want Indiana to sign onto the Great Lakes Water Resources Compact. She said it's "extremely important" for Indiana to protect the Great Lakes waters it now uses for business and recreational purposes from drought-stricken states in the West and South.   Steel Dynamics lowers 4Q guidance Steel Dynamics Inc. said Wednesday it expects fourth-quarter profit in the middle to low end of its previous guidance range. Steel Dynamics said it expects its October acquisition of OmniSource Corp. to reduce its fourth-quarter earnings by 7 cents per share, resulting in a profit of 95 cents to $1 per share. In October, the company predicted a fourth-quarter profit of $1.02 to $1.07 per share, excluding acquisition-related costs.   Blog: Great dining spots What's your go-to dining spot after a night at Civic, a performance at Clowes Memorial Hall, or a concert at the Murat? Today, we solicit your recommendations for the best dining spots to go before or after a performance. Extra points if you don't have to repark your car. Join the conversation at IBJ's new blog, Lou Harry's A&E. From IBJ staff and Associated Press - Compiled by Norm Heikens Girl nearly abducted on the eastside Indianapolis police are searching for a man who tried to abduct a 10-year-old girl Tuesday morning while she waited at a school bus stop in the 3500 block of Sherman Drive on the east side. The girl escaped after spending a couple of minutes in the suspect's car. Police have increased patrols in the area and IPS has moved the bus stop.
	New prosecutor's office will open at Phoenix Apartments Marion County Prosecutor Carl Brizzi plans to open a satellite office at the Phoenix Apartments, the complex where 3-year-old Tajanay Bailey was killed earlier this month. The office will deal with issues like child support, domestic violence and other crimes. Services planned to remember Carson's life Starting tomorrow, several ceremonies are scheduled to honor the life of Congresswoman Julia Carson. Her body will be transported to the Statehouse during a carriage procession, starting at 7:30 a.m. Public viewing runs from 10:15 a.m. to 10 p.m., with a "Celebration of Life" ceremony taking place from 6 p.m. to 8 p.m. The funeral will take place at 10 a.m. Saturday at Eastern Star Church followed by burial at Crown Hill Cemetery.
	Individual insurance mandate garners support Eric Wright, co-chairman of the Indiana University Healthcare Reform Workgroup, thinks one of the best ways Indiana can change its health care system is to require all individuals to have health insurance. And even in a state generally averse to government mandates, the idea's been getting a surprising amount of support, Wright says. At the very least, it has picked up an endorsement from Sam Odle, the CEO of Methodist and Indiana University hospitals. Since current law requires motorists to have car insurance and allows banks to require mortgage insurance, Odle said, "Why wouldn't we tell you, yes, everybody is going to have health insurance?"
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