Tonight: Rain and storms. Low 65. Tomorrow: Sunshine builds, less humid. High 81.
Friday, June 13, 2008
Roche, Marsh call off sublease deal Roche Diagnostics has canceled a deal with Marsh Supermarkets to sublease the grocer's corporate headquarters in Fishers. The Swiss-based manufacturer of pharmaceuticals and medical diagnostic equipment said in March it planned to move 340 employees into the 148,000-square-foot building that has served as the headquarters of Marsh since 1991. But Roche terminated the deal late last month after it couldn't reach terms with Marsh. In particular, Roche wanted an agreement that would have prevented the firm from being evicted if Marsh defaults on the building, said Doyia Turner, a Roche spokeswoman. Clinical trials encouraging for Lilly's Cymbalta Eli Lilly and Co. keeps looking for new ways its rising star, Cymbalta, could help patients with pain and depression. And it got a boost today from clinical trial data presented in France. A study of patients with osteoarthritis found that Cymbalta significantly reduced pain in their knees, compared with patients who took a placebo.
Cummins stock leaps after rival exits segment Shares of engine parts maker Cummins Inc., soared yesterday after Caterpillar Inc. announced a business deal with truck maker Navistar International Corp. - a move an analyst said will boost business for Cummins. Shares rose $6.25, or 9.9 percent, to $69.38.
Chrysler, Canadian firm make unusual deal Chrysler LLC may lease part of a Kokomo transmission plant and some of its employees to Canada-based Linamar Corp., reports The Wall Street Journal. The unusual deal could save the Michigan-based automaker $60 million. Chrysler and other U.S. automakers are struggling to adjust to a consumer shift to cars from trucks. The Canadian company would make parts for Chrysler and others not in the auto industry. It would occupy more than 250,000 square feet at the Kokomo plant and use 200 Chrysler union workers, paying part of their wages to Chrysler. The deal could close this summer.
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From IBJ staff - Compiled by Tracy Donhardt
Flooding continues; FEMA tours state The towns of Hazleton, East Mount Carmel and historic New Harmony are threatened as flooding continues to be a problem south of Indianapolis. As of last night, state officials say floodwaters have not yet crested at Hazleton and East Mount Carmel, near where White River and the Wabash meet. FEMA administrator David Paulison will tour flooded areas today with Gov. Mitch Daniels. FOX 59 will have an update at 10.
Goods collected for flood victims The Midwest Food Bank is working to help Hoosiers affected by flooding. Relief packages containing food and toiletries are being assembled and distributed by volunteers. About 1,000 boxes were taken to southern Indiana yesterday. To donate or volunteer, call (317) 786-8980.
Indy Jazz Fest tunes up The Indy Jazz Fest kicks off today. Gates open at 6 p.m. with the first performance scheduled for 6:15 p.m. The festival runs through Sunday in Military Park in downtown Indianapolis.
Italian Street Festival cooks up fun The Italian Street Festival will cook up spicy meatballs and other dishes this weekend at the Holy Rosary Catholic Church. The free event runs today and Saturday from 5 p.m. to 11 p.m. at 520 Stevens St.
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At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast.
Friday, June 13, 2008 
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