Investors welcome Lechleiter to Lilly helm

DJIA 13,122.9 -44.3 / S&P 500 1,440 -5.6 / NASDAQ 2,561.9 -12.6 Tonight: A few flurries overnight. Low 26. Tomorrow: Afternoon sun, chilly. High 38.
	Tuesday, December 18, 2007
	Investors welcome Lechleiter to Lilly helm Investors gave an initially favorable response to the news that John C. Lechleiter, a chemist by training, will take the helm of Eli Lilly and Co. next year, at a time the entire industry faces wrenching changes. "I'm all for the person with the science background to be the CEO," said Rich Foran, vice president of research at Symons Capital management in Pittsburgh, which owns Lilly shares. Other investors agreed, as Lilly's shares moved up 59 cents in morning trading to $53.77.   Duke picked to build $38M FBI office Locally based Duke Realty Corp. has been selected to develop a new Indianapolis field office for the FBI in the Woodland Corporate Park along Interstate 465 between 71st and 86th streets. Plans for the office call for a complex of three structures: a three-story office building, an enclosed parking garage and a separate maintenance building, the U.S. General Services Administration announced today. The $38.1-million development would give the FBI 110,000 square feet of space, a much-needed boost from its 55,000-square-foot office in the Minton-Capehart Federal Building downtown.
	Medco chooses Boone County for pharmacy plant Medco Health Solutions Inc. said this morning that it will build its $140-million pharmacy distribution center at AllPoints at Anson in Boone County. The Franklin Lakes, N.J.-based company announced Nov. 12 that it would locate the center in the Indianapolis area, but that it still hadn't chosen among Boone, Johnson or Hendricks counties. The center could employ as many as 1,300 workers by 2012.   S&P cuts ratings on Genesco Standard & Poor's Ratings Services slashed its rating on Genesco Inc.'s credit today as the Tennessee hat and shoe retailer struggles with poor sales. The credit agency cut its junk rating on Genesco to "B+" or "highly speculative" from "BB-." S&P said the rating reflects missed expectations for the past few quarters, and heightened doubt about the company's $1.5-billion sale to Indianapolis-based Finish Line Inc.   Kenley wants tighter controls on tax incentives State Sen. Luke Kenley, the Noblesville Republican who this summer chaired a legislative committee to study the property tax issue, wants tighter controls on tax increment financing districts and property tax abatements, reports The Times in Munster. The deals are drawing fire from Kenley and others who question their use in light of property tax bills that soared in the recent assessment. The deals are necessary, but overuse and abuse of the incentives need to be curbed, he told the newspaper.   Former plant worker sentenced for setting fire A former plant worker who pleaded guilty to setting a fire at a magnesium recycling company in Anderson has been sentenced to 30 years in prison. Darrin Dettra, 41, of Chesterfield, admitted setting the January 2005 fire that caused about $12 million in damage. Prosecutors theorized that Dettra set the fire with the intention of extinguishing it so company officials would view him as a hero.   Budget deficits, spending cuts ahead for states For the third time in a month, an analysis of state finances is warning that budget deficits and spending cuts are on the way. Indiana and a dozen other states, including California and New York, say they could face shortfalls for the fiscal year that begins July 1 in most states. The deficits could reach at least $23 billion, according to an analysis released today by the Center on Budget and Policy Priorities.   Casino owner wants to move license The owner of two riverboat casinos in Gary is talking with a state legislator about moving one of his two state gaming licenses to Steuben County in northeastern Indiana, according to The Times of Munster. Majestic Star owner Don Barden said the area near Michigan and Ohio is "underserved" for gamblers.
	Tropicana selling Evansville casino, 2 others Tropicana Entertainment LLC plans to sell its Casino Aztar in Evansville, one of several properties it will try to sell to raise cash after New Jersey officials denied its request for a new Atlantic City license last week. Word of the sales came as the company made a crucial interest payment yesterday and said it was working on reaching an agreement with its lenders that would prevent it from filing for bankruptcy.   Blog: In the door The Indianapolis Symphony Orchestra has added a one-night, $5 preview of upcoming concerts into its schedule. Can such programs help get some of the Yuletide Celebration-attending masses to consider the ISO's year-round fare? What are the barriers that keep potential audiences away from the "high arts"? Also, thoughts on the IBJ Night at the Movies preview of "The Savages." Join the conversation at IBJ's new blog, Lou Harry's A&E. From IBJ staff and Associated Press-Compiled by Norm Heikens
	Eastside shooting leaves one dead Metro police are investigating an early-morning shooting at 2737 N. Gale Ave. that left a woman dead. When police arrived at the location, near North Sherman Drive and East 30th Street, they found the victim, Sandra Holman, shot once in the chest. Police don't think she was the target. Family members tell Fox 59 the shooting might have started as a fight among several people in the neighborhood. Fox 59 will have the latest at 10 p.m. Residents rescued in east-side fire Firefighters last night rushed three elderly women to a hospital after their apartment near North Shadeland Avenue and East 38th Street caught fire. Police believe the fire began in their apartment, at 7138 Twin Oaks Drive. Crews rescued other residents who were stranded on balconies because the heavy smoke prevented them from escaping. Carmel father speaks about family's death A Carmel man is talking about the death of his wife and three daughters after their van slid off a road and into a retention pond. Hadi Abbas says changes must be made in order to make area retention ponds safer. Abbas hopes his family's deaths prompts city officials to install guard rails and stricter zoning for future retention ponds. From success to service A growing number of professionals are diverting time and talent to charity and service after having achieved the pay and perks of the professional and entrepreneurial world.   Selling logistics a tricky task Logistics proponents are finding that young people know little about careers in the industry.   Still steaming along A fifth generation of the Stickle family is running the company that manufactures installs and services steam units.
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