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 DJIA 12,250 -57.4 / S&P 500 1,357.1 -2.9 / NASDAQ 2,464.9 +10.4
 |  |  Tonight: Clear and cool. Low 53. Tomorrow: Partly cloudy, comfortable. High 74.
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|  Monday, June 16, 2008 |
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St. Francis buries hatchet with Cigna, Sagamore
St. Francis Hospital & Health Centers settled a contract dispute with Cigna HealthCare and its Sagamore Health Network last week, days before their old contract expired June 15. The new reimbursement contract will run through 2011. The contract dispute was ironic because Cigna threatened to kick the St. Francis hospital chain out of the Sagamore provider network, the very managed care network Cigna bought last year from St. Francis and other hospital groups. 
Lilly antidepressant approved for fibromalgia
Eli Lilly and Co. said today it won Food and Drug Administration approval for its antidepressant Cymbalta to treat fibromyalgia, a chronic condition with symptoms ranging from pain in muscles, ligaments and tendons to fatigue. The drug already is approved for diabetic nerve pain, major depressive disorder and generalized anxiety disorder, a condition characterized by exaggerated worry or chronic anxiety and irritability, and which may include physical symptoms like muscle tension, restlessness and insomnia.
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Reorganization points Arcadia in better direction
Arcadia Resources Inc. narrowed its losses in its fiscal fourth quarter, the Indianapolis-based home health care company reported today. The company recorded a net loss of $3.1 million in the quarter ended March 31. In the same period a year earlier, the company lost $39.2 million. Arcadia's accountant also has lifted a warning about the company's ability to stay in business.
Cummins, Navistar extend engine supply deal
Diesel engine maker Cummins Inc. said today it has extended its diesel engine supply agreement with commercial truck and engine maker Navistar International Corp. through 2013. Under the deal's terms, Cummins will supply its ISL, ISM and ISX engines for use in International-brand Class 8 heavy commercial trucks. Beginning in 2010, Cummins will become Warrenville, Ill.-based Navistar's exclusive supplier for 15- and 16-liter big bore diesel engines for Navistar's International trucks in North America.
Bosch buying West Lafayette firm for $205M
German industrial giant Robert Bosch GmbH said late last week that it plans to buy CST/berger, a West Lafayette-based maker of laser tools, for $205 million. The deal must be approved by regulators. CST/berger is owned by The Stanley Works of New Britain, Conn. Its tools for measuring, detection and leveling help contractors and homeowners calculate angles and distances.
Diagnostic imaging centers change hands
Three outpatient magnetic resonance imaging centers in Indianapolis have been sold by their Atlanta-based owner, American Health Imaging Inc., to the Minneapolis-based Center for Diagnostic Imaging. The price was not disclosed. The centers were called Indianapolis Health Imaging. American Health Imaging is exiting Indianapolis as well as Ohio as it grapples with a challenging business environment, said owner Scott Arant.
Bloomington should store data, consultant says
A consultant hired to help Bloomington decide how to replace lost manufacturing jobs recommends storing data for companies. Boyd Co. Inc. said in a recent report that Bloomington ranked third in a list of 45 cities in suitability for hosting data storage centers, according to The Herald-Times of Bloomington. The centers, which generate well-paying jobs, are being built in the Midwest by companies looking to cut costs.
Horse track slots could hurt other casinos
Now that casinos are up and running at Indiana's two horse tracks, officials are waiting to see how long it takes for the state's other casinos to feel the pinch from the new competition. "Those are good quality operations up there," said Jeff Michie, assistant general manager of Belterra Casino in Switzerland County. "It's got to hurt us." Belterra called off a proposed $45 million expansion after the Indiana General Assembly approved slots at Indiana Downs in Shelbyville and Hoosier Park in Anderson. Casinos at both tracks opened this month. | | | |
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Oxley to be Thompson running mate
Democratic gubernatorial candidate Jill Long Thompson is announcing that she has chosen state Rep. Dennie Oxley of southern Indiana as her running mate. Thompson has scheduled a series of news conferences around Indiana today to introduce Oxley as the candidate for lieutenant governor. The fly-around is to begin in Sellersburg, which is close to Oxley's district. The 37-year-old Oxley is from the Crawford County community of English, about 50 miles west of Louisville, Ky.
You-review-it Monday
What did you think of "Some Men" and "Iron Man?" Lou Harry's A&E.
IU has problems with money-generating sports
Football and basketball difficulties could cost millions. The Score
From IBJ staff - Compiled by Norm Heikens
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Gleaners provides food to flood victims
Flood victims can pick up food and supplies provided by Gleaners Food Bank's "mobile pantry" at the Morgan County Fairgrounds. Available items include ready-to-eat meals, juice, toiletries and water. Food is available while supplies last. Fox 59 is helping Gleaner's Food Bank restock its shelves. Those wishing to donate items can drop off cleaning supplies and non-perishable canned goods at any Indianapolis-Marion County Public Library branch. Fox 59 will have more at 10 p.m.
Charity organizer to be honored
Lucious Newsom, who devotes much of his time to helping others, will be honored tomorrow night at a charity dinner benefiting The Lord's Pantry. Gov. Mitch Daniels, Sens. Richard Lugar and Evan Bayh, Indianapolis Colts coach Tony Dungy and Colts President Bill Polian also will be on hand. Memorabilia will be auctioned to raise money for the organization Newsom started 20 years ago.
Dungy to host charity golf tournament
Tony Dungy's fatherhood organization, All Pro Dad, will host a charity golf tournament today. Proceeds benefit the organization as well as the Ruth Lilly Health Education Center. The event will feature several former Colts players.
Chrysler dumping tech firm
Powerway Inc. is laying off workers and slashing salaries after its most lucrative customer, Chrysler LLC, said it no longer would use Powerway software or mandate its use among its hundreds of suppliers.
Ivy Tech alters policy after 'oversight'
Retired Ivy Tech President Gerald Lamkin has repaid nearly $20,000 after a review of the college foundation's expense-reimbursement policy uncovered bills that had been paid for him without proper documentation.
Ex-auto dealer bankrupt
Former car dealer and congressional candidate Eric Dickerson has filed for personal bankruptcy after three failed businesses left him saddled with more than $1 million in debt.
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