BREAKING: Lauth cuts 40 more jobs at HQ

	Thursday, July 31, 2008
	Lauth cuts 40 more jobs at HQ Cory Schouten -  cschouten@ibj.com IBJ staff Indianapolis developer Lauth Group Inc. is letting go of at least 60 more employees, including 40 at its local headquarters, in its third round of job cuts this year. The firm has pared its staff by more than 50 percent since the beginning of the year, from about 450 employees to 220, said spokesman Marc Lotter. The previous layoffs were in January and March. Those who are losing their jobs in the most recent staff reduction were informed this morning. Lauth had frantically added employees in recent years to manage a booming development pipeline that has since sputtered. The company now expects its project volume for retail, office and industrial developments to drop by 30 to 40 percent next year, Lotter said. The lone bright spot is health care. The company had grown to be the nation's 13th-largest developer prior to the three rounds of layoffs, each of which the company described as a realignment. About 90 percent of Lauth's business is outside Indiana, much of it in markets hit hard by the flagging economy and a challenged lending environment.  The company built $592 million in projects in 2006, up from $143 million in 2004. During the same period, the company grew from 168 employees to 405. Its revenue doubled from 2004 to 2005, then doubled again from 2005 to 2006.
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Cancer agency exec to lead Humane Society

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	Thursday, July 31, 2008
	Cancer agency exec to lead Humane Society John Aleshire, executive director of Little Red Door Cancer Agency, will succeed Martha Boden at the helm of the Humane Society of Indianapolis, according to several sources close to the situation. Boden left the struggling not-for-profit in June as the agency's board said it was working to transform itself into a "smaller, leaner organization."   Bob and Tom renew contract Bob Kevoian and Tom Griswold have renewed their contract with Premiere Radio Networks Inc., the media outlet said today. Premiere Radio Networks is a unit of San Antonio-based Clear Channel Communications Inc. The Bob & Tom Show is one of the longest running and highest-rated morning shows in the country. It airs on more than 150 radio stations across the U.S. The show was launched locally in 1983 and national syndication started in 1995. The length of the contract renewal was not disclosed.
	Lilly considers closing plant near Lafayette Indianapolis-based Eli Lilly and Co. said it is considering closing a Lafayette-area plant that employs 780 people. The plant in Shadeland manufactures ingredients for the cancer medicine Gemzar and livestock medicine Tylan. Gemzar's patent expires in 2013. Lilly said it told workers Wednesday that the 54-year-old plant may no longer meet the drugmaker's manufacturing needs. Lilly officials say they expect to make a decision on the plant's future within six to 12 months.   Duke's second-quarter numbers slip Indianapolis-based Duke Realty Corp. reported $92.7 million in funds from operations in the second quarter, down slightly from $93.5 million in the year-ago quarter. Funds from operations is a key financial measurement for real estate investment trusts like Duke. Duke said the decline was due to several one-time charges related to property sales in the quarter. The company had $1.7 billion of projects in development during the quarter-about $1.3 billion of which it will sell upon completion. The real estate developer sold $102.4 million of properties and spent $7.4 million on acquisitions in the quarter. Baldwin & Lyons' profit, revenue falls Locally based Baldwin & Lyons Inc. today announced second quarter profit of $6.3 million, down 57 percent from the year-ago period. Revenue in the three months ended June 30 fell 17 percent, to $49.3 million. The property and casualty insurer said lower premium amounts collected on private passenger vehicles are dragging down gains in premiums for trucking fleets and reinsurance products. The company also said it had losses in its limited-partnership investments, including one in India. E. Berry Smith, broadcast executive, dies at 82 E. Berry Smith, a longtime executive for Schurz Communications Inc., parent company of WSBT and the South Bend Tribune, has died. He was 82. Smith died Tuesday of natural causes at Southfield Village nursing home. Smith was senior vice president of broadcasting for Schurz Communications from 1988 until he retired in 2000. Before that, he served from 1981-88 as general manager of the WSBT Stations, which include a television station and AM and FM radio stations.   Long Thompson announces 'green' jobs plan Democratic gubernatorial candidate Jill Long Thompson proposed a plan yesterday that she said would create thousands of new Indiana jobs by investing millions of dollars of state money in companies developing clean-energy technologies. Thompson also accused Republican Gov. Mitch Daniels of not doing enough to bring so-called "green jobs" to the state. In particular, she said Indiana isn't close to tapping the full potential of the state's winds to generate electricity and create jobs.
	From IBJ staff - Compiled by Tracy Donhardt Officers shoot suspect claiming to be armed A man is in serious but stable condition after being shot by two Metropolitan Police officers early this morning at a northwest-side Denny's restaurant. Officers stopped the man at 8808 N. Michigan Rd. while investigating a disturbance at a nearby motel. They said the suspect became belligerent, shoving one of them and claiming to have a gun. The officers fired on the man as he reached for his pocket. Both officers have been placed on routine administrative duty pending the outcome of an internal investigation. Westfield Police make an arrest in death investigation Westfield Police detectives have arrested Joseph Bannon, 24, in connection with their investigation into the death of Nicholas Reners. Officers have not released the details surrounding Reners' death, but say he was found dead yesterday afternoon. Bannon was arrested for one felony count of criminal confinement and three felony counts of obstruction of justice.
	18-year-old dies from gunshot to head A local man who was shot in the head has died at Wishard Hospital. Neighbors found Clois Goldsmith, 18, in the 5200 block of Butler Terrace early this morning. His rental car was found nearby. Officers are now looking for two black men wearing hoodies who witnesses saw leave the area. Bristol-Myers brushes off prasugrel threat Eli Lilly and Co. challenged Bristol-Myers Squibb to a fight in the lab. Now New York-based Bristol-Myers is fighting back in the executive suite and on Wall Street. When analysts questioned Bristol-Myers execs last week about the potential threat of Lilly's new blood thinner prasugrel, Bristol-Myers' chief operating officer dismissed it as a "niche" product, according to a transcript of a conference call where the exchange took place. In two massive clinical trials, Lilly has taken the bold step of comparing prasugrel head-to-head with Bristol-Myers' blood thinner Plavix.
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	IBJ Daily hosted and delivered by Unsubscribe | Update Profile | Manage Subscriptions We respect your right to privacy - click here to view our policy. Copyright © IBJ Media Corp. 2007. All Rights Reserved. Privacy Policy Reproduction or use without permission of editorial or graphic content in any manner is strictly prohibited. Reprint orders: To request reprint permission contact IBJ's managing editor. Phone: 317-634-6200 - E-mail: managingeditor@ibj.com This email was sent by: IBJ Corporation 41 East Washington Street, Suite 200 Indianapolis, IN, 46204-3592, United States of America  *The Dow Jones Indexes(SM) are compiled, calculated and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of The Dow Jones Indexes(SM) Copyright © 2007 Dow Jones & Company, Inc.