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 DJIA 12,431.6 -203.6 / S&P 500 1,357.8 -23.0 / NASDAQ 2,349.8 -33.0
 |  |  Tonight: Rain and storms, flooding problems. Low 50. Tomorrow: Morning rain, afternoon snow showers. High 52.
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|  Tuesday, February 5, 2008 |
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Officials plan streetcar comeback
Some top civic leaders have quietly created a not-for-profit organization to study and build a streetcar "circulator" system downtown. Downtown Indianapolis Streetcar Corp. would bring the electric vehicles to the streets for the first time since the 1950s. The group envisions a fleet of streetcars powered by overhead wires that connects to other transit vehicles, such as IndyGo buses or to a rapid transit line previously proposed between downtown and Noblesville. 
Study: Government reform could save $400M
A new Ball State University study shows Hoosier taxpayers could save $200 million to $400 million a year by implementing recommendations from the commission headed by former Gov. Joe Kernan and Chief Justice Randall Shepard. Those savings would amount to 5 percent to 10 percent of all non-school local spending, said one of the study authors, Michael Hicks, who directs the university's Bureau of Business Research.
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Dairy hormone bills draw Ben & Jerry's ire
Ben & Jerry's, one of the first companies to label its ice cream as free of a synthetic hormone, is protesting moves by Indiana and some other states to restrict such labeling. The South Burlington, Vermont, ice cream maker has joined a national campaign to block what critics say is an effort driven by hormone maker Monsanto Co. to keep the "hormone free" tag off of dairy packaging.
Browning plans Hancock County project
Indianapolis developer Browning Investments is planning a business park on about 150 acres south of Mount Comfort Airport, said Dale Pfeifer, a developer with Browning. The site is north of County Road 300 North and west of County Road 500 West, and is to have four warehouses with space ranging from 270,000 to 753,000 square feet. Browning plans to seek approval for the primary plat later this month.
Steel processor to add 100 workers
Indiana Steel and Tube, a steel processor in the southern Indiana community of Brownstown, plans to expand and hire 100 extra workers by 2010, the Indiana Economic Development Corp. announced yesterday. The $8 million plant will begin making about 2,500 tons of steel coil this year. The state offered nearly $975,000 in incentives, and the city is providing tax abatements and infrastructure improvements.
Economy, competition hit Kimball profit
The slowing economy and rising competition drove down overall profit for Kimball International Inc. in its second fiscal quarter. The Jasper furniture and electronics maker reported today that profit fell 41 percent in the period ended Dec. 31, to $4.2 million.
Steelmaker questions railroad acquisition
ArcelorMittal, the biggest steelmaker in northwest Indiana, is worried about the future of a railroad it uses to annually ship 5 million tons of steel and receive $2 million tons of raw materials. ArcelorMittal competitor U.S. Steel Corp. is selling most of the 198-mile EJ&E Railway, which serves industrial customers in the Chicago area, to Canadian National Railway for $300 million.
Blog: Hoosiers respond to Knight surprise
Bob Knight leaves a tsunami-like wake wherever he goes. Even in retirement, the waves can be felt from Lubbock to Bloomington and beyond. One well-known sports writer with Indiana ties even credits Knight for recent Indiana high school basketball attendance declines and the Indiana Pacers' woes. To weigh in, go to IBJ's new sports business blog, The Score.
From IBJ staff and Associated Press-Compiled by Norm Heikens | | | |
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Deadly fog leaves three Hoosiers dead
Three people were killed as dense fog blanketed parts of Indiana yesterday. Near Lebanon, an elderly couple was killed at the intersection of state roads 63 and 28 when they pulled in front of a semi. In the Lafayette area, one person died and two more were injured when a train slammed into a semi that was crossing the tracks on U.S. 41 near State Road 352. The accident caused the train to derail. A total of six vehicles were involved in that accident. Fox 59 will have the latest at 10 p.m.
State police find body in car
The Indiana State Police is investigating the death of a person found last night in a vehicle along Interstate 70 in Hancock County. A trooper thought the vehicle was abandoned, but then discovered the body slumped over the steering wheel. State police know who the person is, but they are not releasing a name.
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| Two dead after Morgan County crash
Yesterday's thick fog wasn't a factor in a crash that killed a fire captain and another driver in Morgan County. Brown Township Fire Captain David Sherfick was driving an ambulance on State Road 144 when it hit a Jeep that crossed the center line. Sherfick and the driver of the Jeep, James Hoskins, were killed. A passenger in the ambulance is recovering in the hospital.
Knight resigns from coaching position
Legendary college basketball coach Bob Knight has resigned as the head coach of Texas Tech. His son, Pat Knight, will take over as the head coach. The elder Knight has coached for more than 40 years and is the all-time-winningest coach in Men's Div. I basketball with 902 victories. He also won three national championships at Indiana University and a gold medal in the 1984 Olympics.
Outlook good for new grads
College graduates are in high demand, thanks to a wave of baby-boomer retirements that has just begun.
Speedway getting boost from Joost
Shows provided by IMS Productions, the video production arm of Indianapolis Motor Speedway, are among the top draws for Joost, a high-profile Internet provider of television content.
Throttling up for big job cuts at Rolls-Royce?
More than 4,000 workers at Rolls-Royce's operations in Indianapolis are waiting to see how the local plant will fare as the British company proceeds with plans to cut up to 2,300 positions in the U.S. and Europe.
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