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 DJIA 12,260.5 +103.6 / S&P 500 1,329.1 +8.4 / NASDAQ 2,273.4 +17.7
 |  |  Tonight: Mostly cloudy, isolated showers. Low 43. Tomorrow: Some sun, milder. High 58.
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|  Wednesday, March 12, 2008 |
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Obama plans Saturday stop in Indianapolis
Presidential candidate Sen. Barack Obama will visit Indiana, as the state's 72 delegates likely will play an important role in who grabs the Democratic nomination. The visit is Saturday in Indianapolis, with further details to be announced later. Indiana holds its presidential primary on May 6. 
Fitch cuts WellPoint outlook to negative
Fitch Ratings revised its outlook on WellPoint Inc. late yesterday to negative from stable in response to the company's reduced profit projection, but affirmed its investment-grade ratings on the health insurer. Fitch said it anticipates WellPoint's earnings before interest, taxes, depreciation and amortization (EBITDA) to decline significantly in 2008 and weaken the company's financial flexibility. "The revised outlook reflects the increased potential for continued profitability pressure beyond the 2008 time frame, which could lead to a downgrade of WellPoint's ratings," Fitch said.
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|  | Another noose found at Lilly, law firm claims
A law firm pressing a racial discrimination lawsuit against Eli Lilly and Co. says a security guard found a noose hanging in a tree on Lilly's corporate campus in Indianapolis. Rose & Rose, a Washington, D.C., law firm, sent a statement about the incident late yesterday. The FBI office in Indianapolis has opened a preliminary investigation into the incident, based on a complaint it received Monday, according to spokeswoman Wendy Osborne.
Indy's IKEA hopes dashed, but not decimated
What does Cincinnati have that Indianapolis doesn't? As of today, an IKEA. The popular Swedish home-furnishings chain opened its 34th U.S. store this morning in suburban Cincinnati, its final foray into the Midwest after a five-year growth spurt that never quite made it to Indianapolis.
Vontoo lands $2 million in private funding
Vontoo Inc., the Indianapolis startup that's developing audio marketing messages, has attracted $2 million in private funding. The company was started in 2006 to help deliver personalized voice mail messages that can include nuance that's difficult to convey in an e-mail. A key financial backer is Robert Compton, an angel investor living in the Memphis area.
Newly cleaned canal to be refilled
Indianapolis' Central Canal will be refilled today after a four-month project to clean it of sludge and other debris. Water from a cooling tower and two wells will be used to refill the canal. City officials say the process will take two to three days. Crews used vacuums to remove 367 semitrailer loads of sludge and waste from the canal since the cleanup began in November.
Purdue-designed biorefineries headed to Iraq
The water bottles, plastic foam plates and other trash discarded by American troops in Iraq's mess halls may soon be serving double-duty - as an unlikely power source to illuminate barracks and power up laptops. The Army is preparing to deploy to Iraq two 4-ton biomass refineries designed to turn piles of trash into electricity. The novel machines were built by defense contractors and Purdue University scientists as part of the Army's push to reduce troops' diesel fuel use in Iraq, where convoys are frequently targeted by insurgents.
Powerway hires new president
Jim Kanir has been named president and chief operating officer of Indianapolis-based Powerway Inc., an Indianapolis company that develops manufacturing control software. Kanir represented Mason, Ohio-based Cohesia Corp. as it was acquired by Powerway in June last year, and served in a consulting role during the transition. The president's position had been held by Dave Chambliss, who was president and CEO, and is now CEO and chairman.
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| Break in American Axle talks deemed bad sign
The two sides are talking by phone instead of face-to-face, a bad sign in the two-week-old dispute between American Axle and the United Auto Workers, two labor experts said yesterday. Company and union officials each said formal negotiations have ended for the time being, but communication would continue. The company issued a statement yesterday blaming the break-off in negotiations on the union but saying "discussions" between the two sides would resume tomorrow.
Blog: For $399, fans can race at Speedway
Indy Racing Experience is offering a white-knuckle opportunity of a lifetime. The locally based company is offering fans the opportunity to get behind the wheel of a real race car and take some high-speed laps around the famed Indianapolis Motor Speedway. Despite the perils of piloting an open-wheel Indy car, the slots are filling fast. To weigh in, go to IBJ's new sports business blog, The Score.
From IBJ staff - Compiled by Norm Heikens
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Carson claims 7th District win
Democrats call it a decisive victory for Andre Carson in the 7th Congressional District. The grandson of late U.S. Rep. Julia Carson came out of yesterday's special election with 54 percent of the vote. Republican Jon Elrod had 43 percent and libertarian Sean Shepard, 3 percent. Carson's victory makes him the second Muslim elected to Congress. Fox 59 will have more at 10 p.m.
Elrod has not conceded
Republican Jon Elrod still hasn't conceded the race as of 8:30 a.m., but is expected to. Elrod said that because votes were counted by hand, that he wanted to wait until they were all counted. He plans to run for the Republican nomination for the 7th District seat in the May primary.
Gas prices on the rise
Most stations in the Indianapolis area are selling gas for $3.45 a gallon. The rising prices are due in part to the cost of oil reaching another record, ending yesterday at nearly $108 a barrel.
Police searching for suspects in car chase
Indianapolis Metropolitan Police officers are on the lookout for two suspects who got away after an early morning car chase on the near-southeast side. Officers tried to pull over a suspected stolen car around 1 a.m. near Prospect and Harlan streets. The driver was arrested after stopping the car and fleeing on foot. Police were unable to catch the other two suspects in the vehicle.
New Penn Arts owner eyeing 8th purchase
Chris Piazza, the 23-year-old entrepreneur who is buying up struggling-and sometimes dilapidated-apartment buildings in the Indianapolis area, has almost finished plans for his latest purchase, The Penn Arts Apartments at 16th and Pennsylvania streets. Piazza bought the 82-unit Penn Arts building from JAB Real Estate Investment Group LLC in January for $1.4 million. Now he'll spend another $3 million to whip the building into shape. "I've always had an entrepreneurial mindset," said Piazza, who bought and sold cars through high school. 
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