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 DJIA 11,897 +159.7 / S&P 500 1,288.8 +15.5 / NASDAQ 2,199.2 +29
 |  |  Tonight: Partly cloudy, not as cold. Low 34. Tomorrow: Some sun, milder. High 55.
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|  Tuesday, March 11, 2008 |
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WellPoint news could presage industry slump
WellPoint Inc.'s woes made for a gloomy day on Wall Street and could turn into year-long gloom for the whole industry. That's what at least one Wall Street firm said after Indianapolis-based WellPoint sharply lowered its profit forecast late yesterday. Its share price fell 26 percent this morning, to $48.55. Goldman Sachs and Co. slashed its outlook, not only for WellPoint, but also for all its managed-care insurance peers. 
Big Ten Network, Comcast deal could be near
Sources confirmed to IBJ this morning that officials for Comcast Cable and the Big Ten Network are nearing an agreement to put the channel on an expanded basic tier cable package in central Indiana and other Big Ten markets. Street & Smith's Sports Business Journal and the Chicago Tribune cited sources today saying the sometimes icy negotiations are thawing. One source told the Tribune that his optimism that a deal will get done soon is "95 out of 100." For more, see IBJ's sports business blog, The Score.
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|  | American Axle, UAW resume talks
A two-week-old strike at Detroit-based auto parts maker American Axle and Manufacturing Holdings Inc. could last much longer, largely because the company is profitable yet wants concessions from employees, according to some labor experts and workers on the picket lines. As the strike dragged on yesterday, it caused a parts shortage that crippled General Motors Corp.'s ability to make pickup trucks, big sport utility vehicles and vans. Four GM plants in Indiana have been affected: a pickup truck assembly plant in Fort Wayne, stamping plants in Indianapolis and Marion, and an AM General plant in Mishawaka that makes the Hummer H2.
Purdue president wants stronger NASA link
Purdue University has hired a Washington, D.C., lobbying firm that specializes in aerospace, aviation and defense to recreate strong ties the school had in the past with NASA, reports the Journal & Courier of Lafayette. As former chief scientist at NASA, Purdue President France C?rdova has ties with the firm, The National Group.
Economy to worsen, recover slowly, survey shows
The health of the U.S. economy will worsen and its recovery will be slower than previously expected, according to 42 economists surveyed by Bloomberg News. "We're now more pessimistic about the pace of recovery into 2009,'' Richard Berner, co-head of global economics at Morgan Stanley in New York told Bloomberg. Still, the economists placed the chances of recession in the next 12 months at 50 percent, the same odds they gave last month.
New brick plant could stack up well
Imagine what Babylonia and other ancient cultures could have accomplished with a brick-making plant like the one scheduled to open Thursday in Terre Haute. Atlanta-based Boral Bricks Inc. is touting the $58 million facility as the most efficient in the United States, partly because the bricks will be fired by methane gas taken from a landfill. Like the rest of the industry, Boral is fending off competitors that offer aluminum, vinyl and now fake stone poured from colored concrete.
Rural areas might forego asphalt for gravel
The skyrocketing cost of asphalt is forcing some local officials to consider tearing out asphalt on rural roads and replace it with gravel, according to The Republic of Columbus. Conversions to gravel would occur if the condition of asphalt roads deteriorated to the point that drivers would experience a smoother ride on gravel.
Blog: IU football, the untold story
Indiana University has chosen March, the month that all eyes in the Hoosier state are on basketball, to launch an advertising campaign for its football team. While the timing seems odd, the motivation is not. IU has seen its football revenue spike considerably in the last two years-for the first time in many years outscoring the basketball team. To weigh in, go to IBJ's sports business blog, The Score.
From IBJ staff - Compiled by Norm Heikens
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Special election underway with few problems
Polls are open until 6 p.m. for the special election to fill the 7th District Congressional seat left open by the December death of Julia Carson. Some sites, including a few in Perry and Franklin townships, didn't open on time because inspectors didn't show up; those problems were taken care of by 7:15 a.m. The late congresswoman's grandson, Democrat Andre Carson, is running for the seat against Republican Jon Elrod and Libertarian Sean Shepard. Fox 59 will have election results at 10 p.m.
Three arrested after police chase
Indianapolis Metropolitan Police arrested three people after an overnight chase on the near-west side. Police say it started when an officer made a traffic stop at 10th Street and Moreland Avenue. The driver took off in what turned out to be a stolen car and ended up in a ditch. Police believe the suspects were under the influence of drugs.
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| Police ID Bloomington homicide victim
Police have released the name of a man found dead in a pile of leaves near a walking trail in Bloomington. Gene Davis, 44, of Bloomington suffered several stab wounds. Police have arrested three people, including two women. They are all being held at the Monroe County Jail.
Sheriffs' pay limited
Gov. Mitch Daniels has signed a bill limiting pay for county sheriffs. Under the new legislation, a sheriff's pay cannot be more than what a full-time county prosecutor earns. Currently, sheriffs can subsidize salaries with fees for collecting overdue taxes. Under the new law, those fees will be placed in the county's main checking account.
Hoosier haute couture
An upcoming fashion show at the Indianapolis Museum of Art shows the city's 'garment district' stretches beyond the nearest Jo Ann Fabrics.
Program's goal: more skilled workers
Not-for-profits are expanding a program that encourages low-income Indianapolis students to further their educations after high school.
Hungering for growth
Several local restaurants are adding locations despite central Indiana diners' reputation for being addicted to national chains.
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