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 DJIA 13,496.8 +51.9 / S&P 500 1,491.1 +6.1 / NASDAQ 2,681 +14.6
 |  |  Tonight: Snow developing. Low 28. Friday: Morning snow, 2 to 3 inches accumulation. High 37.
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|  Thursday, December 6, 2007 |
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Lilly to keep cutting jobs 'with great intensity'
Eli Lilly and Co. CEO Sidney Taurel says the company will continue reducing its work force-even through some job cuts-as the entire pharmaceutical industry tries to retool for a future without the kinds of mega-blockbusters that sustained it for decades. "We're going to continue, year after year, with great intensity, to reduce our head count, taking advantage mostly of attrition, some functional actions where necessary," Taurel said in a television interview this morning with Bloomberg News. In a separate interview with The Wall Street Journal, Taurel said the pharmaceutical industry is "doomed" if it does not change the way it does business. 
Indianapolis getting new mini marathon
Community Health Network and Comcast Cable have signed on to sponsor a half-marathon scheduled for May and marketed as an alternative to those shut out of the popular Indianapolis 500 Festival Mini Marathon. The Mini, which is held May 3, is already sold out with 35,000 entrants. Event organizers also are challenging those already registered for the Mini to do both events and join the "May Marathon Club." |  | | | |
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eGix to be bought by Cincinnati Bell
Carmel-based eGix Inc. has agreed to be acquired by Cincinnati Bell Inc. in a deal valued at $18 million, Cincinnati Bell announced today. eGix provides single-source voice and data services, plus high-speed Internet access and messaging products to about 17,000 customers, mainly in Indiana and Illinois, plus another 20 states. It has 57 employees and annual revenue of about $16 million, according to Cincinnati Bell. The deal is expected to close in the first quarter of 2008.
Indiana starting government investment pool
Indiana plans to start an investment pool for local governments and school districts next month, and officials say it will include safeguards to prevent financial problems that recently hit a similar fund in Florida. Florida's fund was temporarily shut down recently after a run on funds caused by concerns about subprime mortgages. The Indiana General Assembly created the investment fund during the last legislative session as a way for local governments and schools to earn greater returns on investments.
Indiana making gains assembling vehicles
Indiana is racking up auto assembly jobs at a time the nation as a whole is losing them, an Indiana Department of Workforce Development study shows. Indiana is benefiting from Japanese operations such as Toyota Motor Manufacturing Indiana Inc. and Subaru of Indiana Automotive Inc. at a time Detroit car companies are closing plants in the traditional assembly states of Michigan and Ohio. The findings were unveiled recently in InContext, a publication of Indiana University's Indiana Business Research Center.
Drug sector to remain stable, Fitch says
The pharmaceutical industry likely will face continued pressure from generic drug developers and regulatory scrutiny in 2008, but the outlook for the sector remains stable, Fitch Ratings said yesterday. The report also pointed out that companies already facing tougher generic competition for their products could feel an additional squeeze from managed care companies.
Finish Line same-store sales drop
Finish Line Inc. said today third-quarter same-store sales fell 3.6 percent, hurt by a calendar shift and soft results at its Man Alive stores. The athletic-footwear retailer said same-store sales for Finish Line dropped 3.2 percent, while Man Alive same-store sales slid 9.8 percent. | | | |
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YourEncore hires former Aventis exec
Indianapolis-based YourEncore has launched new services designed to help life sciences companies plan for and obtain regulatory approval for new products. To run its regulatory services, YourEncore hired Carol Crowley, a 25-year veteran of the drug and device industry. Prior to joining YourEncore, Crowley was vice president of global regulatory operations for France-based Aventis SA, which is now part of Sanofi-aventis, which is headquartered in Paris.
Indian firm buys Butler auto parts plant
Autoline Industries Inc., an India-based parts supplier to car, recreational vehicle and tractor manufacturers, has acquired the North American jack and tool-kit business of Dura Automotive Systems Inc. of Rochester Hills, Mich. The sole location where the Dura unit makes the jacks and tools is in the northeastern Indiana town of Butler. |  | | | |
| Weakness in heavy truck market may be past
Shares of companies that make heavy trucks rose today, pulled up by a strong overall market, along with new data showing an increase in truck orders. According to data from ACT Research LLC, orders of Class 5 through heavy-duty Class 8 trucks rose 12 percent over November 2006 levels. The November increase came after a 9-percent jump in October, which was preceded by a drop in the three previous months, according to the data included in an analyst note from Wachovia's Andrew Casey.
Blog: Mini Marathon gets competition
The venerable Mini Marathon has a challenger. As IBJ reporter Anthony Schoettle reports today, two sponsors have signed on to a half-marathon scheduled just two weeks after the Mini, which is sold out. Race Around the Reservoir, which will wind around Geist Reservoir, is billed as an alternative to those who can't get into the Mini. Is the new race a threat to the main event? Join the discussion at IBJ's news blog, News Talk.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Another round of snow expected to fall
Prepare for another rough morning tomorrow as a snowstorm moves into central Indiana. Two to three inches of snow are expected to fall tonight in central and northern Indiana. Fox 59 News will have more at 10 p.m. and, in the morning, news of any school delays or closings.
Speedway police pursuit ends in 2 arrests
Two men are under arrest after an early-morning pursuit that started as a traffic stop along Georgetown Road near Indianapolis Motor Speedway. The suspects allegedly threw a gun, a bag of marijuana and a bottle of vodka out of the car as they sped away. The chase ended near Kingsmill Apartments on High School Road.
Collision on northwest side injures 2
Two people are in serious condition after a head-on collision last night at 59th Street and Georgetown Road east of Eagle Creek Park. Police say one of the drivers crossed the center line, but weather does not appear to have been a factor.
Police arrest Salvation Army bell ringer
Sean Sayers is being held in the Madison County Jail without bond after police say he went inside a Wal-Mart during his break from bell-ringing and stole $20 worth of Christmas ornaments. They also say he sang "The First Noel" as he slipped the ornaments inside his jacket.
Lilly execs to push prasugrel at key meeting
The top dogs at Eli Lilly and Co. clearly aren't happy with how analysts and news media have interpreted prospects for its experimental blood-thinner, prasugrel. (Exhibit A: CEO Sidney Taurel's op-ed piece in The Wall Street Journal last week.) So instead of lumping prasugrel into the company's annual product pipeline presentation, which is coming up at an investor meeting tomorrow in New York, Lilly will make a separate presentation about prasugrel and have a separate question-and-answer session about it. Mostly analysts attend the meeting. 
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