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 DJIA 12,366 -100.2 / S&P 500 1,358.2 -15 / NASDAQ 2,385.3 -9.3
 |  |  Tonight: Evening snow showers, cold. Low 21. Tomorrow: Mostly cloudy, breezy. High 32.
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|  Thursday, January 17, 2008 |
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Interactive Intelligence shares hit skids
Just when Interactive Intelligence Inc. was enjoying an extended run up in its stock price, more than half its value has been lost in the past few weeks. Shares in the Indianapolis-based software firm have fallen to $13, down from $28 in late December. However, analysts aren't abandoning the company. 
Inventory of unsold houses boomed in 2007
Inventories of unsold houses exploded last year, according to figures compiled by an Indianapolis real estate brokerage. A 13-county area anchored by Indianapolis overflowed with nearly a year's worth of inventory, Landrigan & Co. Realtors said. At the rate of absorption underway in December, the inventory existing as of the end of 2007 would be purchased within 11.9 months, Landrigan said. That's a huge increase from the eight months of inventory available at the end of 2006.
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New Albany firm to develop Cabela's site
Property near the Cabela's outdoor store under construction in Greenwood will be developed with a cinema, grocery store, restaurants and other shops. Lopp Properties, a developer based in the southern Indiana city of New Albany, signed a contract recently for rights to build on the 100-acre property, according to the Daily Journal of Franklin.
Dixon promoted to president at Community
Community Hospitals of Indiana Inc. has named Mark Dixon president. Dixon had served as Community's chief operating officer since 2003. "This is a natural progression for Mark and the network," Bill Corley, president and CEO of Community Health Network, said in a release.
Midwest growth still sluggish, Fed says
The Midwestern economy continued a pattern of slow growth in December and early January, the Federal Reserve Bank said today in its Beige Book report. Businesses made few changes to their spending plans and consumer spending was mixed, the report said.
Former Colt wants to rehab Anderson housing
Former Indianapolis Colts tight end Ken Dilger, in a plan pitched yesterday to Anderson city officials, said he aims to buy and revitalize foreclosed houses, and then sell them to low- and moderate-income buyers, according to The Herald Bulletin of Anderson. The Spencer County native, who played seven seasons with the Colts, owns Legends Title, a title insurance company, and Dilger Financial Corp., a commercial and residential mortgage firm.
Closed Visteon factory draws serious interest
Visteon Corp. is negotiating with a potential buyer who wants to turn its recently closed factory in Connersville into a facility with multiple tenants, a company spokesman said. The buyer is an established developer looking for suitable tenants, said Visteon spokesman Jim Fisher. "We would hope to have something final fairly soon," he said, declining to put a time frame on the deal.
Honda boasts of flexibility at Greensburg plant
The new car-assembly plant Honda Manufacturing of Indiana is building at Greensburg might make models in addition to the Civic compact. In an interview this week with the trade publication Automotive News, a Honda official said the plant initially will make Civics. That will allow the company's East Liberty, Ohio, plant to boost production of its hot-selling CRV crossover. However, John Mendel, executive vice president of automobile operations for American Honda Motor Co., added that, "Because of flexible manufacturing, a lot of things are possible."
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From IBJ staff and Associated Press-Compiled by Norm Heikens
Funerals announced for Hovey Street victims
Funeral arrangements for two of the four victims in the Hovey Street murders have been finalized. The funeral for Gina and Jordan Hunt will immediately follow a viewing from 9-11 a.m. Saturday at Christ Church Apostolic, 6601 Grandview Drive. The funeral for Andrea and Charlii Yarrell is scheduled for Monday, but details are still being worked out. Fox 59 will have the latest at 10 p.m.
Father charged in his son's shooting
A young father was charged with criminal recklessness after police say he accidentally shot his 1-year-old son at a home at 82 N. Addison St., west of White River State Park. Police say Adam Chavez, 19, was holding the gun when it fired and shot the child in the back of the head. The prosecutor will decide if additional charges should be filed against Chavez, who is in police custody.
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| Plot to kill wife nets man 30 years in prison
Robert Quarles has been sentenced to 30 years behind bars for attempting to hire an undercover police officer to kill his wife. Investigators say the Indianapolis man had previously tried to kill his wife himself by lacing her drink with Visine. Quarles pleaded guilty to conspiracy charges in court yesterday.
FDA to issue cold medicine warning
The U.S. Food and Drug Administration is planning to issue a public health advisory today, warning parents to not give children under age 2 cough and cold medicines. Officials say the medicines are too risky because of "serious and potentially life-threatening side effects." In October, drug companies quit selling dozens of versions of the remedies targeted specifically to babies and toddlers while FDA scientific advisers also decided that those drugs don't work in young children.
Tipton, Clarian pact could last 50 years
Tipton Hospital doesn't deliver babies anymore. It sends mothers to Clarian North Medical Center. And if Tipton Hospital leaders get their wish, they'll be sending a lot more patients to Clarian for the next half century. Tipton and Clarian officials announced Monday that they signed an agreement to extend their nearly 10-year partnership for many more years - as many as 50. The agreement still requires citizen input and the approval of Tipton County politicians. But it's no surprise Tipton and Clarian want to continue and even deepen their partnership. The first needs medical specialists and the second needs referrals from a broader pool of patients. 
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