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 DJIA 12,722.6 -12.7 / S&P 500 1,403.6 -5.6 / NASDAQ 2,456.4 -18.2
 |  |  Tonight: Rain to flurries, windy. Low 34. Friday: Flurries off and on, colder. High 36.
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|  Thursday, January 10, 2008 |
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Lauth lays off 54 workers in Indianapolis
Developer Lauth Group Inc. today layed off 80 employees - about 18 percent of its nationwide work force - including 54 at its Indianapolis headquarters. The company described the move as part of a "realignment" that will help the nation's 13th-largest developer continue to grow. About 90 percent of Lauth's business is outside Indiana. The company had 450 employees prior to the layoffs. 
Construction on $530M Getrag plant on hold
Work on a $530 million automotive transmission plant near Tipton has ground to a halt over a dispute between its partners, Chrysler LLC and German transmission maker Getrag. Construction stopped Dec. 21, ostensibly for a holiday break, but the work hasn't resumed, according the Kokomo Tribune. Without naming its sources, the newspaper reported that the price of the transmissions and how many would be produced for Chrysler are among issues the parties are addressing.
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Taxes to dominate House Republican agenda
Indiana House Republicans have presented a proposal that seeks immediate property tax cuts by next May, strict state and local government spending caps, and capping tax bills on homeowners at 1 percent of their home's assessed value. They also want to begin the process of amending the state constitution to permanently repeal property taxes on homesteads.
Landmark Center sold to Michigan firm
A Michigan-based investment firm has paid more than $30 million for the 12-story Landmark Center at 1099 N. Meridian St. Quantum Investments bought the property from Illinois-based Westminster Funds, said Jenna Rowe, a spokeswoman for CB Richard Ellis, which marketed the property.
Zimmer-Ashcroft deal prompts Justice review
The U.S. Department of Justice has started an inquiry into its internal practices after the law firm of former Attorney General John Ashcroft was named to oversee business practices of Warsaw-based prosthetics maker Zimmer Holdings Inc. Current Attorney General Michael Mukasey and some aides fear the department appears to be in a conflict of interest, because one of Ashcroft's former underlings, New Jersey prosecutor Christopher Christie, appointed Ashcroft Group to supervise Zimmer following a criminal investigation into alleged kickbacks to doctors.
Old-fashioned village runs into modern snags
A couple withdrew a rezoning proposal for a planned development modeled after medieval European villages after the project met resistance from officials and potential neighbors. But Josh and Sarah Brown of Fortville hope to return with a new plan for their Simpler Times Village. Simpler Times would create a community of single- and multiple-family dwellings and businesses amid green space that would allow for hobby farming and livestock on a 125-acre site in Madison County.
Direct Buy acquired by private investment firm
Direct Buy Inc., a Merrillville company that franchises 149 centers where members buy directly from manufacturers, has been acquired by Miami-based private investment firm Trivest Partners LP and Direct Buy managers. In Indiana, Direct Buy has locations in Merrillville and at 8450 Westfield Blvd. in Indianapolis.
Real estate outlook mixed for '08, report says
Real estate giant Colliers Turley Martin Tucker expects a 2008 slowdown in new office and industrial construction in Indianapolis as market demand catches up to a rapidly expanding supply. Retail construction likely will continue its quick pace, buoyed by the addition of mega-fitness chains and the local expansion of Dunkin Donuts. But tightening credit markets will continue to limit the number of projects that can find financing. Those are among the predictions in the annual State of Real Estate report compiled by the local office of St. Louis-based Colliers Turley Martin Tucker. CTMT executives and Gov. Mitch Daniels will discuss the findings at a 4 p.m. event today at the Murat. | | | |
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Online bettors reap windfall on Clinton win
Some online traders made $100 for every $1 they bet on Hillary Clinton's winning the New Hampshire primary Tuesday, according to Bloomberg. Clinton's perceived chances of taking the pivotal state were so battered after she placed second to Barack Obama in Iowa that Obama's odds of winning had skyrocketed to 99 percent. The bets are placed at a Dublin, Ireland, online prediction site called Intrade.
Blog: Tell it to the Marines
A former University of Indianapolis student has made the New York Times for taking theater to the Marines at Camp Pendleton. Are the arts doing enough to reach out to non-traditional audiences? Read Lou Harry's A&E.
Correction
A story in yesterday's IBJ Daily about Emmis Communications Corp. incorrectly stated a change in revenue at its Austin, Texas, radio station. Revenue fell 1 percent.
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| From IBJ staff and Associated Press-Compiled by Norm Heikens
Hoosiers brace for more flooding
Flood waters continue to force people out of their homes in parts of north-central Indiana. The Wabash River crested this morning in Lafayette at 22 feet, about double its normal flood stage. Much of the water is coming from the Tippecanoe River, which flooded its banks due to heavy rain on Tuesday. Fox 59 will have the latest at 10 p.m.
Metro police open satellite office
The Indianapolis Metropolitan Police Department will open its satellite office in the Phoenix Apartments today. The opening comes two months after Tajanay Bailey, 3, was beaten to death at the apartment complex, which is near East 38th Street and North Keystone Avenue. Officials have promised increased police presence since Tajanay's death.
Human remains found in Fishers
Metro police continue to try to identify the remains of a person found in Fishers yesterday afternoon in the 7200 block of East 96th Street. Police were searching the area for a person who was reported missing in 2006. That's when a trained dog found the bones.
Charges reduced for ex-IMPD cop
Former Indianapolis Metropolitan Police Officer Shannon McComas appeared in court today for an initial hearing. McComas was arrested this weekend on a charge of murder, but the charge has been reduced to one count of assisting a criminal. Investigators say the six-year veteran supplied the gun used by a security guard at Durty Nelly's to kill Ronnie Croom, Jr., 32, during a New Year's party. Durty Nelly's is at 2805 N. Franklin Road.
Corner Care dragged into bankruptcy court
It looks like the end won't come quietly for Julie Beckner and her now-defunct chain of Corner Care Clinics. In late December, three suppliers forced Beckner and her Indianapolis-based company into bankruptcy court, claiming they are owed at least $112,000. Two of the creditors are from Indianapolis: The Dodson Group Inc., a business purchasing service, and CPPM Inc., a printing and mailing firm. The third creditor is Leventhal Productions, a media buyer in St. Louis. The suppliers filed their Chapter 11 involuntary bankruptcy petition on Dec. 19 in federal bankruptcy court in Indianapolis. All three firms are represented by Bingham McHale attorney Whitney L. Mosby. 
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