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 DJIA 12,966 -92.2 / S&P 500 1,407.1 -6.9 / NASDAQ 2,467.4 -9.6
 |  |  Tonight: Clear and cool. Low 51. Tomorrow: Warmer, breezy, late showers. High 78.
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|  Monday, May 5, 2008 |
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Manufacturing solid in Indiana, study shows
Thanks to its improved efficiency, manufacturing is in much better shape in Indiana than conventional wisdom suggests, a new study says. The state is holding its own in workers employed in the sector, said the study, sponsored by Conexus, an Indianapolis-based not-for-profit that promotes manufacturing and logistics. Moreover, Indiana manufacturing workers are among the most productive in the Midwest. And foreign investment is pouring into the state.
Local economy not in bad shape, observers say
The abrupt slowdown in merger-and-acquisition activity shouldn't be confused with a poor economy, say some Indiana professionals who specialize in the work. Aside from a few hard-hit industries such as housing and retail, most sectors of the economy are fairly healthy. And the low point of the economic downturn already might have arrived. "I don't think it's going to get much worse," said David Hamernik, a turnaround specialist for 35 years.
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|  | Saints owner buys Emmis station in New Orleans
Emmis Communications Corp. today said it has signed an agreement to sell Fox affiliate WVUE-TV in New Orleans for $41 million to Louisiana Media Co. LLC, which is principally owned by Tom Benson, owner of the New Orleans Saints. After-tax proceeds are expected to be about $35.5 million, Emmis officials said. Indianapolis-based Emmis has been trying to sell the station since before Hurricane Katrina devastated the region in 2005.
Duke shares rise following analyst upgrades
Shares of real estate investment trust Duke Realty Corp. climbed Friday after two analysts upgraded the stock following the company's first-quarter report. Analyst Lou Taylor of Deutsche Bank and Wachovia analyst Christopher Haley both upgraded the stock to the equivalent of "Buy" from "Hold," saying Duke shares are trading at a substantial discount to peers.
WellPoint nabs New York, Connecticut contracts
WellPoint Inc. has won a contract to administer the Medicare program in New York and Connecticut, a deal worth up to $323 million over five years, the company announced today. The Indianapolis-based health insurer will perform key Medicare administrative functions, for its contracts with hospitals, nurses and physicians, including appeals, reimbursement, claims processing, medical review and local coverage determinations.
Elwood nickel-plating business closes
A key company in Elwood closed abruptly on Friday, costing 60 to 70 people their jobs. State Plating, which coated steel with nickel, had been in business since 1962. The company didn't respond to messages from The Herald Bulletin of Anderson, but the newspaper said the rising cost of nickel was a key factor in the closing.
Former Vectren official becomes nemesis
Mike Sandefur has been enjoying the irony. Sandefur is the former environmental affairs director for Indiana power company Vectren Corp. His former employer contacted him about providing an easement on his family's farm in western Kentucky for a high-voltage power transmission line. Now a wetlands consultant who helps landowners convert agricultural land for recreational hunting or government wetland programs, Sandefur is leading the opposition to the proposed line.
GOP gleeful at Obama rocky period
Republicans can hardly contain their glee as they watch Barack Obama battle through a rocky period. And why should they? Nothing else is breaking the GOP's way this year. But, at least now, the Democrats' political phenom is tarnished, and, if he defeats Hillary Rodham Clinton for the Democratic nomination, he will enter the general election campaign not only bruised and battered - but also carrying baggage as he faces Republican John McCain.
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You-review-it Monday
What did you see over the weekend? Lou Harry's A&E
Ex-food chief: Crops for fuel is OK
Former World Food exec Morris weighs in on food for fuel. News Talk
Craze running beyond Mini-Marathon
The inaugural Geist Half Marathon and 5K is sold out. The Score
From IBJ staff - Compiled by Norm Heikens
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Candidates address Indiana constituents
Indiana voters cast their ballots tomorrow in the 2008 primary election. For the first time in recent memory, Hoosiers may help decide the Democratic nominee for president. The two candidates spoke to a crowd of about 2,300 people last night at the annual Jefferson-Jackson Day Dinner for the Indiana Democratic Party. Hillary Clinton said she has the toughness and awareness to be president and compared herself to the underdog team in the movie "Hoosiers." Barack Obama brought his message of change, saying Hoosiers have a chance to move America away from current policies. Fox 59 will have more at 10 p.m.
Police look for shooter in overnight killing
Margues Shotwell, 19, is dead after being gunned down early this morning when he knocked on the door of an apartment near 35th and Pennsylvania streets. When the door opened, he was shot multiple times with a semi-automatic handgun. The suspect fled and is sought by police. Anyone with information about this case is urged to call police at 317-262-TIPS.
Governor candidates crisscross state
Democratic nominees to face Gov. Mitch Daniels in the November general election are campaigning hard on the eve of tomorrow's primary election. Jill Long-Thompson is scheduled to visit South Bend, Fort Wayne, Indianapolis, Jeffersonville and Evansville today. Tomorrow, she will appear in Crown Point and Argos, where she will cast her ballot before returning to Fort Wayne. Jim Schellinger began today in Terre Haute and planned to head to Bloomington and Jeffersonville before stopping in Columbus, Connersville and Muncie.
Best bet for biz: Clinton or Obama?
Indianapolis-area leaders in the health care industry are divided over whether Hillary Clinton or Barack Obama would be the best Democratic nominee.
Builders' troubles continue
A depression in the home-building market has claimed a Fishers builder and continues to hammer locally based Davis Homes LLC - a powerhouse for years that now faces foreclosure on about 80 home sites.
Airport overseer carries baggage
Indianapolis-based Aviation Capital Management, which is overseeing construction of the city's $1.2 billion midfield terminal, is accused of failing to ensure quality on a project at a New York airport.
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