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 DJIA 12,701.1 -152 / S&P 500 1,410.5 -9.9 / NASDAQ 2,459.9 -28.6
 |  |  Tonight: Mainly overcast, chilly. Low 32. Saturday: Morning sun, evening showers. High 43. Sunday: Snow likely, colder. High 37.
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|  Friday, January 11, 2008 |
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Indiana-made pickups add to Toyota woes
Quality problems involving a Toyota pickup truck made in Princeton have so tarnished the Japanese automaker's once-vaunted image that they drove onto Automotive News' list of the top 10 stories of 2007. In its Dec. 31 edition, the trade publication cited numerous recalls for the full-size Tundra pickup, including failed torque converters and propeller shafts. Those problems and others are tarnishing a brand once known for its top-flight quality. 
Ohio firm takes over Print Communications
Print Communications Inc., one of central Indiana's largest printers, has sold a controlling interest to Stonehenge Partners Inc., a Columbus, Ohio, private equity firm. Terms of the deal were not disclosed, but PCI founder Randy Steenbergen said the staff will not be downsized and current management will be retained. The firm has been renamed PCI Holdings LLC.
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Interactive Intelligence expects to miss 4Q sales
Communication software maker Interactive Intelligence Inc. expects fiscal fourth-quarter revenue below analysts' estimates due to delayed contracts. The Indianapolis company said late yesterday that it expects fourth-quarter sales between $29 million and $30 million, with operating income of $1.8 million to $2.3 million. Analysts predict revenue of $30.6 million for the quarter, according to a Thomson Financial survey.
Feds clear sale of Indy radio stations' owner
Federal Communications Commission members have approved the buyout of Clear Channel Communications Inc., which owns WFBQ-FM 94.7 and two other Indianapolis radio stations, according to a report in The Wall Street Journal. In addition to the local classic-rock powerhouse, Clear Channel owns local alternative rock station WRZX-FM 103.3 and WNDE-AM 1260, which broadcasts a sports format.
Southern Indiana veneer firm adding 60 workers
Carl F. Booth Veneers, which provides exotic wood veneers to the executive aircraft industry, will move its New Albany operations to Jeffersonville and create 60 new jobs. The company will close the existing plant and build a 100,000-square-foot facility in Jeffersonville within the next year to increase production and meet increasing demand for its products, Indiana Economic Development Corp. announced today.
Horse tracks to have slots running by summer
Construction on buildings that will house slot machines at Indiana's two pari-mutuel horse tracks is on pace for the casinos to open by early summer, and officials hope large crowds will follow. Legislators passed a law last year that allows up to 2,000 slot machines at Hoosier Park in Anderson and Indiana Downs near Shelbyville.
Hoosiers leaving state, moving firm says
Americans are still moving to the South and West and leaving behind the Great Lakes region, including Indiana, according to a study from United Van Lines. The St. Louis-based company, the nation's largest mover of household goods, has been tracking moves since 1977. For the second straight year, North Carolina had the highest inbound migration rate, with 61.6 percent of moves into the state.
Gary adviser sentenced in real estate fraud
A longtime adviser to Gary Mayor Rudy Clay has been sentenced to 37 months in prison on charges of fraud and tax evasion. Roosevelt Powell was convicted in September in Hammond federal court for skimming profits from a real estate transaction between the Gary Urban Enterprise Association and the Gary Historical and Cultural Society. The Enterprise Association was launched to help revitalize Gary.
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Lechleiter impresses CNBC pharma reporter
Incoming Eli Lilly and Co. CEO John Lechleiter can add another feather to his nice-guy hat. Mike Huckman, who follows the pharmaceutical industry for CNBC, wrote in an online posting this week that was impressed when he interviewed Lechleiter during an industry gathering Monday. Unlike other CEOs, Lechleiter seemed comfortable operating without an executive assistant or PR person - let alone an entourage.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Colts prepare for playoffs amid coaching rumors
The Indianapolis Colts are preparing for Sunday's divisional playoff game against the San Diego Chargers at the RCA Dome even as rumors swirl that head coach Tony Dungy may not return to the team next season. Sunday's game could be the last one played in the RCA Dome. Kickoff is scheduled for 1 p.m. |  | | | |
| Art museum closes after electricity knocked out
The Indianapolis Museum of Art will be closed to the public today after electricity was cut off by a tree falling on power lines near 38th Street and Michigan Road. The incident closed 38th Street for awhile this morning, but Michigan Road remained closed at mid-day.
Flood waters receding in Tippecanoe County
Swollen waters along the Wabash River in Tippecanoe County have receded about two feet, but the water level in the Lafayette area is still several feet above flood stage. At its crest, the river was nearly 12 feet above flood stage. Officials in the area expect the waters to recede through the weekend.
Property tax bill passes committee
A state Senate committee has passed a bill that would reduce the burden on property taxpayers. Under the proposal, the state would pay for county child welfare costs and the entire school general fund, starting in 2010. Currently, property taxes make up about 15 percent of the fund.
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