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 DJIA 12,262.2 +178.5 / S&P 500 1,352 +16.5 / NASDAQ 2,431.4 +37.4
 |  |  Tonight: Warm and humid, with spotty thundershowers. Low 72. Tomorrow: Scattered storms, some severe. High 86.
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|  Thursday, June 12, 2008 |
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ATA, FedEx spar over airline's failure
ATA Airlines Inc. says in a lawsuit filed yesterday that FedEx Corp. knew that its decision to drop ATA from its military-charter team would destroy the airline. But FedEx spokeswoman Sandra Munoz said today that her company does not understand why ATA shut down in April and sought bankruptcy court protection. She acknowledged that FedEx in January notified ATA that it would not be part of the FedEx team in the fiscal year that starts in October. But she said ATA was under contract to continue the military flights through September. 
Lilly buys rights to drug delivered through skin
Eli Lilly and Co. will pay $35 million for rights to an osteoporosis medicine delivered through the skin, the Indianapolis drugmaker announced today. Lilly has signed a licensing and development agreement with Israel-based TransPharma Medical Ltd. for exclusive rights to its ViaDerm-hPTH product and non-exclusive rights to its drug-delivery system, which delivers medicine through a patch on the skin.
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|  | Report: Lebanon Business Park good for area
Assessed property value in Lebanon topped the $1 billion mark in 2006, thanks in part to the Lebanon Business Park, which opened in 1994, according to a report prepared for the Boone County Economic Corp. by accounting firm Katz, Sapper & Miller. The 60-page report outlines how the 1,000-acre park has created jobs and helped boost tax revenue for local schools and government since opening in 1994.
Disc plant in Terre Haute to expand
Sony Corp. plans to spend $113 million to expand its Blu-ray Disc manufacturing operations in Terre Haute, creating up to 85 jobs. Sony DADC employs about 1,180 at the plant, which makes 425,000 Blu-ray discs daily, plus compact discs and DVDs. Sony will receive $975,000 from the Indiana Economic Development Corp. in tax credits and another $655,000 in training grants.
Ambassador Steel to be acquired
Auburn-based Ambassador Steel Corp. has agreed to be bought by Harris Steel Inc., a unit of Charlotte, N.C.-based Nucor Corp., for $185 million. Nucor announced the deal today. Ambassador makes and distributes concrete-reinforcing steel and related products. The deal, pending regulatory approval, is expected to close by September. No details were provided about the impact to Ambassador employees.
Conseco hires, promotes execs
Conseco Inc. hired one upper-level executive and promoted another one this week. The Carmel-based insurer hired Michael Farley as senior vice president and annuity and life actuary. Farley, 45, joins Conseco from ING Re, where he served from 2001 to 2007 as chief financial officer and chief insurance risk officer. Conseco also made its interim general counsel, Matthew J. Zimpfer, its general counsel and executive vice president. Zimpfer, 40, has worked at Conseco 10 years.
What's wrong with the Tony Awards?
And what shows are likely to be contenders. Lou Harry's A&E
From IBJ staff - Compiled by Tracy Donhardt
Governor, ag director to meet with farmers
Indiana Gov. Mitch Daniels and Indiana Director of Agriculture Andy Miller are meeting today with farmers and agricultural officials in flooded areas. They'll began their visits in Columbus and will also meet with farmers in Morgan and Daviess counties. The two also will inspect the levee in Elnora. FOX 59 will have an update tonight at 10.
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Son of former house speaker arrested
Indianapolis Metropolitan police arrested a man who said he is the son of former Indiana House Speaker Paul Mannweiler. Steven Mannweiler was one of four people arrested for public intoxication this morning in the 7700 block of Allisonville Road, police said. Police found the group arguing over who should be driving.
Colts triumvirate headed to Hall Of Fame
Colts CEO Jim Irsay, team president Bill Polian and head coach Tony Dungy are headed to the Indiana Football Hall of Fame. The triumvirate will be inducted at an event at Colts headquarters today. With the trio at the helm, the Colts became the first NFL team in 76 years to start the season 7-0 for three straight seasons.
43rd Annual Strawberry Festival kicks off today
Christ Church Cathedral's Strawberry Fest is taking place on Monument Circle today. About 20,000 shortcakes and six tons of strawberries are expected to be served at the annual fundraiser, which benefits local, national and international charities. The festival runs until 6 p.m. or until supplies run out.
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Competition stiffens for Lilly's diabetes drug
Eli Lilly and Co. and its development partner on the diabetes drug Byetta spent the weekend trading punches with Danish and Swiss rivals. Wall Street analysts still are sorting through the companies' competing studies. But they did conclude that Byetta will face a lot more competitors trying to grab a share of the growing diabetes care market. 
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