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 DJIA 11,583.5 -228.4 / S&P 500 1,295.9 -26.1 / NASDAQ 2,339.4 -61.5
 |  |  Tonight: Isolated storms, muggy. Low 74. Tomorrow: Chance of storms. High 90.
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|  Thursday, June 26, 2008 |
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Premier's White taken into custody, posts bond
Premier Properties USA Inc. founder Christopher P. White was taken into police custody early this morning and released after he posted bond. A prosecutor's office spokesman confirmed White had been taken into custody on three felony charges filed last week, but the spokesman had no information on whether White, 50, turned himself in or was arrested. The charges against White include fraud on a financial institution, check fraud and theft - all Class C felonies stemming from a $500,000 bad check that authorities say White deposited into an account with the National Bank of Indianapolis in January. 
Business has no right to traffic flow, court rules
A prominent Evansville hotel owner cannot collect damages from the state because the state built a median in a road that makes it more difficult for patrons to reach the hotel, the Indiana Court of Appeals said in a unanimous ruling handed down today. John M. Dunn previously had been awarded $4.7 million in damages by a jury and trial court after Dunn filed an inverse condemnation suit against the state. In reversing the Vanderburgh Circuit Court, the appeals court said, "landowners have no property right to free flow of traffic past their properties."
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|  | Six execs of Steel Dynamics unit resign
Eight months after Steel Dynamics Inc. acquired the scrap steel recycler OmniSource Corp., six OmniSource executives have resigned. Three of the six were members of the Rifkin family, which sold OmniSource to Steel Dynamics for $1.1 billion, according to The Journal Gazette of Fort Wayne. One brother, Danny Rifkin, who was OmniSource chief operating officer and Steel Dynamics executive vice president, told the newspaper the separation was prompted by philosophical differences over strategic direction that developed after the close of the Oct. 26 transaction.
Compendium lands $1.6M in funding
Startup software developer Compendium Blogware said today it has raised $1.6 million in private funding. The downtown company's third round of funding, which targeted $1.5 million, closed in just three weeks. The latest round included eight new investors, bringing the total to 40. Compendium's software is aimed at simplifying blogging for companies and organizations.
Stewart Title closing five Indianapolis offices
Houston-based Stewart Title Services Corp. is closing five Indianapolis-area offices and consolidating the work at 20 E. 91st St. Stewart will lay off 15 employees, leaving the local office with a total of 19 after the downsizing takes effect July 1, said State Manager Tom Fickle. "It's just not profitable to keep that many offices open anymore," Fickle said.
Lebanon plans to annex 3,675 acres along I-65
Lebanon's city council has voted to bring more than six square miles along Interstate 65 into the city and zone the land for single-family housing. The 3,675 acres extends a half-mile on each side of the interstate and as far south as State Road 267, according to The Lebanon Reporter. The council could make its second, binding vote as early as Aug. 11.
IRL may add new engine look in 2011
IndyCar racing could undergo a major overhaul by 2011. The cars are expected to be redesigned. Multiple engine manufacturers could be back in the game, and even turbochargers may be back on the track. It's all part of an attempt by Indy Racing League officials to remake the look of open-wheel racing, and this week's roundtable discussion with engine manufacturers has prompted Brian Barnhart, the series president of competition, to ponder all kinds of changes - from engine specifications to the sounds cars make.
WellPoint employees rewarded for patient care
WellPoint Inc. employees earned a bump in their annual bonuses this year thanks to a new program that monitors care for the health insurer's patients. WellPoint met or surpassed most goals for improvement in the first year of its Member Health Index program. That means employees saw their bonuses increase by about 10 percent, the company announced today. | | | |
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Fuel costs could nip flights at 3 Indiana airports
Airports in Evansville, Fort Wayne and South Bend are in danger of losing air service due to the rising cost of aviation fuel, says a study released yesterday by a consumer group. The Business Travel Coalition, which advocates for lower business-travel costs, today planned to discuss the 50 regional airports identified in its study during testimony in a U.S. House Small Business Committee hearing. Spokespersons for airlines and airports including Fort Wayne International Airport have said the study is alarmist.
Taking the 'art' out at Keystone
Keystone Art Cinema thinks Get Smart is art? Lou Harry's A&E
Progress with entrepreneurship
More young companies are getting traction. NewsTalk
No big market, no shoe deal for NBA draftees
Going to a market like Indiana could doom budding star. The Score
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| From IBJ staff - Compiled by Norm Heikens
Pacers trade, draft party tonight
The Toronto Raptors and Indiana Pacers have agreed in principle to a trade. Jermaine O'Neal would head to Toronto while the Pacers receive point guard T.J. Ford, center Rasho Nesterovic, the 17th pick in the NBA draft and a player to be named. The Pacers also give up the 41st overall pick for Raptors forward Maceo Baston. The deal can't be finalized until July 1. The Pacers are inviting fans to a draft party at Conseco Fieldhouse tonight at 6:30. Fox 59 will have more at 10 p.m.
Ride in honor and memory of woman
A motorcycle ride in honor of a missing woman is set for this evening. Brookley Louks disappeared June 24, 2002, from her father's Greenwood apartment. She is presumed dead, but her remains have not been found and the suspect in her disappearance has died. Louk's mother, Kim, says the ride is organized to remind residents not to forget Brookley. It is also to raise awareness as the family holds out hope for discovering Brookley's body. Registration begins at 6 p.m. at Long Acres Bar and Grill and riders leave at 6:30 p.m.
Woman saves man who drove into Geist Reservoir
A man whose car careened out of control and landed in Geist Reservoir early this morning was saved by a woman who heard the crash. Police say the man was having brake problems and couldn't make the turn near Geist and Fall Creek roads. His car went through a fence, across a yard and flipped into the water. Paula Hughel says she swam to the vehicle while her husband called 911. She told the man to go to the back of the car due to the severe damage to the car's front. She then opened the back door and rescued the man. He was taken to the hospital to be treated for minor cuts and scrapes.
Indiana adding bioscience jobs faster than U.S.
For those who like to crunch numbers about Indiana's life sciences industry, there's a slew of them in a new report from the Biotechnology Industry Organization. Indiana is behind in some key areas but doing well overall. Indiana is adding bioscience jobs faster than the nation as a whole and faster than the entire state economy is adding jobs of all kinds. On top of that, biosciences jobs in Indiana pay more than twice as much as the average wage in the state and more than the average bioscience wage nationwide. 
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