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 DJIA 12,269.2 -68.1 / S&P 500 1,342.5 -6.3 / NASDAQ 2,298.6 -7.6
 |  |  Tonight: Partly cloudy, cold. Low 9. Tomorrow: Increasing clouds, snow late. High 26.
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|  Wednesday, February 20, 2008 |
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United Way expects increase in 2007 campaign
Contributions from the 2007 fund-raising campaign for United Way of Central Indiana will increase 5.4 percent from 2006, the not-for-profit projected today. The record $39 million is expected to be $2 million more than the prior year. President and CEO Ellen Annala attributed the increase to campaign co-chairmen who put their own money on the line as incentives for others to raise commitments. 
Indy, Kokomo have most affordable houses
For the 10th quarter in a row, the National Association of Home Builders has designated the Indianapolis area as having the most affordable housing prices among large markets. In the fourth quarter of 2007, an index compiled by the group and Wells Fargo shows 46.6 percent of new and existing houses sold were affordable to buyers earning the national median income of $59,000.
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|  | Indiana Beach resorts sold to New York firm
Descendents of the founder of Indiana Beach amusement park have sold the operation to Morgan RV Resorts, a campground and RV park owner headquartered in Queensbury, N.Y., for undisclosed terms. The deal was announced yesterday, according to the Herald Journal of Monticello. Locations included in the sale are Indiana Beach amusement park, Jelleystone Park Camp-Resort and Indiana Beach Camp Resort.
Boone County spat could be nearing end
An agreement could be near in the long-running dispute between the towns of Whitestown and Fayette in Boone County. County commissioners are considering signing a compromise that would dismiss a lawsuit brought against the county last year by Whitestown and Carmel developer Brenwick Associates LLC, according to the Lebanon Reporter. The suit challenges the incorporation of Fayette as a town. Brenwick plans a project in the area that Fayette incorporated.
Marion startup to use $10M in bonds
The Marion City Council has approved issuing up to $10 million in bonds to be used by Veriana Networks LLC to buy and equip headquarters it has said it wants to build in the Grant County community. In October, Veriana, a startup specializing in technology, media and risk management for the entertainment industry, announced its headquarters plans and the intention of hiring 280 workers over five years.
Muncie bank to restate 2006 cash flow
Mutual First Financial Inc. in Muncie said yesterday it would restate its cash flow for 2006 because officials misunderstood where to allocate loan-sale activities. The sales were allocated to operating activities, rather than the proper category of investing activities, the bank said in a Securities and Exchange Commission filing today. In an interview, Assistant Vice President Chris Cook emphasized that the mistake had no impact on the bank's financial condition, income or stockholder equity.
Rising oil prices hurt Calumet profit
Calumet Specialty Products Partners LP reported yesterday that fourth-quarter profit plummeted to $7.8 million, from $32.1 million a year earlier. The Indianapolis company said oil prices increased faster than it could raise prices on the lubricants, fuel and other products it refines. For the year, Calumet had profit of $82.9 million, compared to $95.6 million in 2006.
CBS to pay $31 million in Superfund settlement
CBS Corp. has agreed to pay more than $31 million to settle liability for the cleanup of six PCB-contaminated Superfund sites in the Bloomington area. CBS also agreed to additional groundwater and stream cleanup worth $22.8 million, the Justice Department, Environmental Protection Agency and the state of Indiana announced. The settlement was filed yesterday in U.S. District Court in Indianapolis.
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Chrysler mum on number of buyout offers
Chrysler LLC doesn't plan to announce the number of workers taking its latest buyout offers for several more weeks, despite the passing of a deadline for thousands of Detroit-area workers to make a decision, a company spokeswoman said yesterday. That's partly because workers at Chrysler's four Kokomo factories and at a Wisconsin plant have until Feb. 25 to decide. Chrysler employs a total of 5,187 people at three transmission plants and one casting operation in Kokomo.
Casino withholds monthly tax payment to Gary
Majestic Star Casino owner Don Barden says the company is withholding a monthly tax payment to the city because Gary has failed to live up to its promise to build access roads to his business. Mayor Rudy Clay said Barden's move puts Gary in a "major financial dilemma." "The city was skating on thin ice anyway," Clay said. |  | | | |
| Blog: NFL Combine still valuable commodity
With all that's happening on the local sports scene, it's easy to forget about the NFL Combine, which begins today in the RCA Dome. The Combine, which was first held in Indianapolis in 1987, has a multimillion-dollar economic impact, and it's also an event the city almost lost. To weigh in, go to IBJ's new sports business blog, The Score.
From IBJ staff - Compiled by Norm Heikens
Overnight snow made messy morning commute
An Alberta clipper system swept across the state overnight, dropping 1 to 2 inches of snow on the northern and central counties. The slippery roads led to several morning accidents. One salt truck even ended up in a ditch on U.S. 421 in Zionsville. Fox 59 will have the latest at 10 p.m.
Bittersweet win in Bloomington
The 15th-ranked Indiana Hoosiers defeated in-state rival and 14th-ranked Purdue 77-68 last night at Assembly Hall. The win could be the final game for IU coach Kelvin Sampson. Many expect Sampson will be suspended sometime before this weekend's game against Northwestern. If suspended, Sampson would have 10 days to file an appeal before being fired.
House could vote on tax legislation
The House Ways and Means Committee plans to vote on legislation today that could lead to property taxes being capped by the state constitution. The Senate has passed the resolution. Gov. Mitch Daniels and GOP leaders in the Senate and House support it.
Car slams into building during police chase
Indianapolis Metropolitan Police arrested four people last night they say are connected in a series of stolen vehicles. The arrests came after a car chase in the downtown area that ended with a stolen Cadillac Deville running into the AT&T building. Of the four suspects arrested, only a 20-year-old female remains in police custody.
Adidas takes large space at Mount Comfort
The Mount Comfort Commercial Park in Hancock County is becoming a draw for companies looking for distribution space. The latest tenant to sign on the dotted line is Adidas. The athletic shoe retailer will lease 162,000 square feet in a 594,000-square-foot warehouse owned by KTR Capital Partners of Pennsylvania. The building at 6883 W. County Road 350 N. was built as a spec building in 2006. The CVS drugstore chain became the first tenant when it agreed three months ago to lease the same amount of space Adidas is taking. 
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