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 DJIA 12,828.8 +28.6 / S&P 500 1,417.6 +6 / NASDAQ 2,510.1 +5.4
 |  |  Tonight: Warm and breezy, showers. Low 58. Tuesday: Rain and thunderstorms. High 60.
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|  Monday, January 7, 2008 |
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New mutual fund launched in Carmel
A father and son have started a mutual fund in Carmel based on an investment strategy they used for their personal investments, and which they say left Standard & Poor's 500 returns in the dust. Bob Auer, who was vice president of investments at Morgan Stanley from 1986 to August 2007, and his father, Bryan Auer, opened Auer Growth Fund on Dec. 26. The Auer Growth Fund applies a 12-step screening process to a universe of more than 9,000 companies, ranging from tiny firms to those with market capitalizations of more than $100 million. 
HHGregg stock falls after forecast
HHGregg Inc. shares fell 8 percent this morning after the company said it expects its next quarter to be challenging "given the general economic environment and slowing traffic patterns." In the same announcement, the company reported strong results in its fiscal third quarter, which ended Dec. 31, with same-store sales advancing 3 percent. HHgregg reaffirmed its full year 2008 earnings guidance for profit between 95 cents and $1.03 per share, excluding a 41 cent-per-share loss from a debt refinancing completed in connection with the company's initial public offering.
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Telamon sells broadband service business
Officescape, an Indianapolis-based provider of technology for offices, has bought BMS, a broadband management service, from Telamon Corp. in Carmel for an undisclosed price. Officescape said the transition would be seamless, and that the nine BMS workers would be offered jobs. Headquartered at 8910 Purdue Road on the northwest side, locally owned Officescape has 20 employees in Indianapolis and 20 others in West Lafayette.
Great Lakes Compact likely to get Indiana OK
A ban on drawing greater amounts of water from the Great Lakes is expected to pass the Indiana General Assembly this session, according to the Post-Tribune of Merrillville. The Great Lakes Compact - agreed to by governors of eight states and two Canadian provinces - would prohibit new and increased diversions unless the governors approved. The pact would allow limited exceptions and let each state decide how to implement the ban.
Fish farm owner wants out of factory farm rule
The owner of a fish farm wants Delaware County officials to exempt aquaculture from a proposed new ordinance that would govern confined animal feeding operations. Michael Miller, who owns Bell Aquaculture about 10 miles northeast of Muncie, said passage of the ordinance could cause him to halt plans to expand his $10 million operation.
RCA Dome, Indy sports icon, nears last game
Built a quarter-century ago with no assurance a pro football team would ever play there, the RCA Dome was a gamble from day one. But it paid off, becoming the symbol of the transformation of Indianapolis into a major sports town. This month's NFL playoffs will mark the end of the Colts' days in the 57,000-seat downtown stadium. Starting next season, they are to move across the street into a new $703 million-$720 million stadium. The new venue, Lucas Oil Stadium, towers over the RCA Dome, which will be demolished to make way for a convention center expansion.
Markets ponder $200 oil this year
Traders are running up the price of oil on the New York Mercantile Exchange despite some analysts' predictions that oil will fall as the economy slows. In the past two months, $200 options have increased 10-fold, to 5,533 contracts, according to Bloomberg. That's the fastest-growing bet on oil.
Blog: You-review-it Monday
In Lou Harry's A&E today, readers are encouraged to comment on shows, concerts, films and exhibitions they caught over the weekend. | | | |
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From IBJ staff and Associated Press-Compiled by Norm Heikens
Legislators prepare to convene at Statehouse
Property tax reform will be the dominant topic when the Indiana General Assembly convenes tomorrow. Gov. Mitch Daniels sent a letter to all state legislators urging them to support initiatives in his property tax relief proposal. Fox 59 will have the latest at 10 p.m.
Ballard to introduce police plan
Today is the first City-County Council meeting since the newly elected members took office. At the meeting, Indianapolis' new mayor, Greg Ballard, is expected to roll out his high-profile plan to shift control of the Metropolitan Police Department from the sheriff back to the mayor's office.
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| U.S. Supreme Court to hear voter ID case
The U.S. Supreme Court will hear arguments on Indiana's voter identification law Wednesday. The law requires that voters present a government-issued photo ID. Republicans and Democrats have been stuck in a heated debate over the requirement. Democrats call it an unconstitutional burden, while Republicans say it will cut down on voter fraud.
Clean-up continues after train wreck
The investigation and cleanup continues after a train wreck on the west side of Indianapolis yesterday. Investigators want to know how more than 100 cars were accidentally released from the train yard in Avon before wrecking into a train headed there from Buffalo, N.Y. Two CSX employees were hurt, and 3,500 gallons of diesel fuel and 2,000 gallons of soybean oil were spilled.
Hot Tickets
Colts' suite holders devise strategies to maximize the value of their prized boxes.
Rash of deals saves Gazelle
After a long slog, Investors in Gazelle Tech Ventures are enjoying a handsome payoff.
State sells itself across state lines
Indiana has started a six-month advertising campaign designed to attract companies from Illinois and Michigan.
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