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 DJIA 12,297.7 +83.9 / S&P 500 1,337.9 +11.2 / NASDAQ 2,281.8 +21.5
 |  |  Tonight: Partly cloudy, cold Low 28. Tomorrow: Clouds increase, flurries. High 40.
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|  Wednesday, March 5, 2008 |
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State senator dies after battle with cancer
State Sen. David Ford died today at age 59 after a battle with pancreatic cancer. Ford, a Republican from Hartford City, died at his home, Senate officials said. Ford had been absent from the Senate since January, when his family confirmed he was critically ill with cancer. He backed economic development and technology supported by business interests. 
American Axle says UAW talks to resume
A key auto-parts supplier says it will resume talks at noon tomorrow with striking members of the United Auto Workers. Workers at Detroit-based American Axle and Manufacturing Holdings Inc. went on strike Feb. 26. The strike has caused General Motors Corp. to announce it would temporarily close six plants, including a pickup truck assembly plant in Fort Wayne and a Mishawaka factory that makes Hummer vehicles for the automaker.
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|  | Richard Blum boosts ITT stake to 8.4 percent
San Francisco financier Richard Blum has increased his stake in Carmel-based technical school operator ITT Educational Services Inc. to 8.4 percent, according to a Securities and Exchange Commission filing Monday. Blum, the husband of U.S. Sen. Dianne Feinstein, said the stock purchases were made for investment purposes in the ordinary course of business, and not to acquire control of the company. However, he reserved the right to propose an extraordinary corporate transaction involving the company and changes to its board or management.
Steel Dynamics approves stock split
Steel Dynamics Inc. said yesterday its board approved a 2-for-1 stock split, and plans to boost its dividend by one-third. Additionally, the company will pay a quarterly dividend equal to 20 cents per share before the split, or 10 cents afterward. Steel Dynamics shares rose 3.8 percent today, to $62.52.
Cummins names foundation head, new CFO
Diesel engine maker Cummins Inc. said today that Chief Financial Officer Jean Blackwell has been named executive vice president of corporate responsibility and chief executive of the Cummins Foundation. Subsequently, Pat Ward, current vice president and engine business controller, has been promoted to CFO of the Columbus, Ind., company, effective May 1.
Farmland values boom on growing farm income
Indiana farmland values skyrocketed to record levels last year, according to the most recent survey of agricultural lenders by the Federal Reserve Bank of Chicago. Driving the surge was a boom in farm income. Ethanol plants snapped up millions of bushels of corn, which drove up the price of corn as well as soybeans and other grain.
Labor support for Daniels irks some trades
A labor group is sponsoring a $500-per-plate fund-raising event for Republican Gov. Mitch Daniels, even though some of its members have endorsed another candidate. A full-page ad in newspapers last week listed the Northwest Indiana Building and Construction Trades Council as a sponsor of the event Friday night at a Merrillville hotel. Mike Campbell, president of Laborers' Locals 81 and 41, said many of his 3,000 members were upset because they believe the ad gave the impression all 33 union locals in the council were supporting Daniels.
Republic Airways traffic surges in February
Republic Airways Holdings Inc. said yesterday its traffic surged nearly 40 percent in February as it made more trips with fuller planes. Republic, which operates under service contracts with American, Continental, Delta, Frontier, United and US Airways, saw its traffic climb 39.7 percent to 712.7 million revenue passenger miles last month, up from 510.1 million a year earlier. A revenue passenger mile is an industry unit that represents one paying passenger flown one mile.
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Blog: Robin Williams boosts local bike maker
Actor Robin Williams, a cycling buff and close friend of Tour de France champion Lance Armstrong, gave an unsolicited endorsement to Roark, a small, Brownsburg-based bicycle maker, in the February edition of one of the nation's largest cycling publications. The marketing boost could send Roark sales into outer space. To weigh in, go to IBJ's new sports business blog, The Score.
From IBJ staff - Compiled by Norm Heikens
Severe winter weather hits central Indiana
A mix of snow, ice, freezing rain and wind blitzed central Indiana yesterday afternoon and into this morning, creating dangerous driving conditions for the morning commute. Officials reported several accidents. Some parts of Indianapolis received more than 2 inches. Fox 59 will have more at 10 p.m.
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| Weather causes power outages
The severe winter weather that hit Indiana yesterday left thousands of Hoosiers in the dark after ice and wind snapped tree limbs and power lines. Duke Energy and IPL officials say most of the affected areas were on the north side.
Preparing for severe weather
Today is Indiana's 30th annual "Tornado Drill Day." Drills were conducted from 10:30-11 a.m., and a second drill will take place from 7-7:30 p.m.
Domestic-violence bill moves forward
Gov. Mitch Daniels will consider a domestic-violence bill that pass the Senate after it accepted changes made in the House. Under the legislation, people arrested for domestic violence would have to spend at least eight hours in jail to settle down, rather than seek retribution.
Historic downtown building for sale
The owners of Delaware News Co., one of the city's last remaining old-school newsstands, are getting out of the business after more than a dozen years. Phil and Vincent DeFabis have put their business and their historic building along Delaware Street up for sale. The brothers are asking $415,000 for the 3-story, 3,000-square-foot building at 130 N. Delaware St., across from City Market. The structure was built in 1860 and now is home to a salsa-dancing studio and the newsstand. Delaware News could be included in the deal if a buyer were interested, Phil DeFabis said. 
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