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 DJIA 12,942.5 +110.3 / S&P 500 1,397.8 +6.8 / NASDAQ 2,443.5 +17.4
 |  |  Tonight: Not as cold, showers late. Low 52. Thursday: Some sun and warmer. High 76.
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|  Wednesday, April 30, 2008 |
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Convention hotel bonds gain high rating
Mayor Greg Ballard's administration has completed its first major bond issue. Yesterday, the Indianapolis Local Public Improvement Bond Bank successfully sold $59.45 million in municipal bonds to underwrite the downtown JW Marriott convention hotel project. The bonds were oversubscribed and well-received in the market, said Bond Bank Director Kevin Taylor. And ratings firms improved their ratings on the city. 
Cummins stock shoots up on earnings increase
Shares of Cummins Inc. swelled 9.3 percent this morning after the Columbus-based diesel engine maker reported a 33-percent jump in first-quarter profit. Earnings rose to 97 cents per share, above the 89 cents expected by analysts. Cummins said international growth helped offset increased commodity prices and weakness in some U.S. markets.
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|  | Indy exec to help start Virginia Rolls-Royce site
Tom Loehr, who has held a string of senior positions at Rolls-Royce in Indianapolis, has landed the No. 2 position at the British company's new plant in Prince George County, Va. Local economic development officials had hoped to land the $100 million facility, which will assemble and test engines for midsize jets.
Wood-products company to rebuild after fire
A southern Indiana wood-products company plans to rebuild a warehouse and factory destroyed in a Feb. 2 fire. Harrison County officials have agreed to provide $900,000 in utility improvements for the Norstam Veneers plant in Mauckport. The company's insurance will replace the factory space and equipment, but the insurance company insisted on increased fire protection.
New owners giving Indiana Beach a makeover
Indiana Beach's first new owners in more than 80 years are giving the amusement park a face-lift they hope will attract new visitors and surprise loyal fans. "We wanted people to see a 'wow' factor when they came in this year," said John Collins, the new general manager at the park on Lake Shafer, about 25 miles north of Lafayette. New York-based Morgan RV Resorts bought Indiana Beach, founded in 1926 by Earl Spackman, in February from Spackman's family for an undisclosed amount.
IU med students might finish at local campuses
The Indiana University medical school will allow some students to remain at the South Bend and Fort Wayne regional campuses and finish their studies with third- and fourth-year clinical rotations at area hospitals. If the pilot program starting this summer is successful, all eight IU regional sites with studies in medicine may eventually allow students to complete their training there rather than transfer to the main medical school in Indianapolis after the first two years. The rotations could help hospitals in rural counties or in poor, urban areas attract and retain physicians.
Outside groups compete for political ad time
For months, Barack Obama and Hillary Rodham Clinton have dominated political advertising. Increasingly, they are not alone. Partisan groups and the political parties are pushing their way onto the airwaves, often with negative ads that are adding an even more quarrelsome tone to an already bruising presidential campaign. In Louisiana, Mississippi and Indiana, ads on behalf of Republican congressional candidates label Democrat Obama too liberal. | | | |
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What outsiders think
What's the value of endorsements by outside experts? Lou Harry's A&E
Boone incomes edging Hamilton
Boone County has pulled ahead in a measure of wealth. NewsTalk
The other convention hotels
Two more hotels are planned near the JW Marriott. Property Lines
Polian looks for wrestlers, pitchers
Colts President Bill Polian looks at player backgrounds. The Score
From IBJ staff - Compiled by Norm Heikens
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| Brizzi wants murder law to include unborn children
Marion County Prosecutor Carl Brizzi is calling for a change in state law after the recent shooting of a pregnant bank teller. Indiana's murder laws currently state that a fetus must be viable. Brizzi will join several state lawmakers today to announce a push to expand it to include any unborn child. Bank teller Katherin Shuffield was five months pregnant when she was shot April 22 during a bank robbery on the far-east side. Her unborn twins died three days later. Fox 59 will have more at 10 p.m.
Overnight shooting case of road rage
State police are searching for a suspect they say is responsible for an early-morning shooting stemming from road rage. Police say two cars were traveling eastbound on I-70 near the Emerson Avenue exit when one driver cut off the other. That's when police say someone started shooting into the victim's car. The victim, Donte Marlin was taken to Wishard Hospital in stable condition with a gunshot wound to a leg and arm. Police are looking for suspects driving a mid-1980s two-tone Chevy Caprice. Anyone with information can call State Police at 899-8577.
Presidential candidates stump in Indiana
After a quick trip to North Carolina, Barack Obama is back in Indiana tonight for a rally at Assembly Hall in Bloomington. Tomorrow, Obama will stop in Jeffersonville, but details haven't been released. Hillary Clinton continues her tour of the Hoosier state today with a town hall meeting in Lafayette at 5:30 p.m. From there, Clinton travels to Kokomo for a rally at Memorial Gym at 9 p.m.
Brothers to develop first local project together
Two brothers who separately develop real estate projects in the Indianapolis area and in Arizona, are teaming up for the first time to develop Hamilton Healthcare Campus, a two-building medical office complex on the southwest corner of 146th Street and Cumberland Road. Carter and Scott Jackson have formed Jackson Commercial Real Estate Indiana to develop the project, which will cost more than $20 million. 
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