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 DJIA 11,060.7 +98.2 / S&P 500 1,223 +8.1 / NASDAQ 2,244.1 +28.4
 |  |  Tonight: Clear and warm. Low 70. Tomorrow: Hazy and hot. High 91.
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|  Wednesday, July 16, 2008 |
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Centaur casino project might survive
Financial commitments for Centaur LLC's proposed $455 million horse race track and casino near Pittsburgh expired yesterday, but the project may not be dead. The Indianapolis company issued a brief announcement this morning saying that discussions with lenders continue. A Centaur attorney earlier this month told the Pennsylvania Gaming Control Board that the entire project "could go up in smoke" if Centaur were not granted a temporary slots license. 
Grand jury indicts three in cemetery fraud case
A grand jury indicted three people today on theft charges alleging that they helped siphon away $24 million set aside to maintain the graves of people who had paid in advance for their funerals. The three indictments come six months after Marion County prosecutors charged Robert E. Nelms, 39, and his wife, Debora Johnson, 48, in the scheme. |  | | | |
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The couple, who are accused of using some of the pilfered money to buy a luxury home, face nine felony counts each, including theft and violations of a cemetery perpetual-care fund.
Cummins lays off 50 more at engine plant
Columbus, Ind., diesel engine maker Cummins Inc. has temporarily laid off another 50 employees due to declining demand for large pickup trucks. Cummins spokesman says another 80 employees have been shifted from the Midrange Engine Plant near Columbus to other Cummins plants as part of yesterday's layoffs. Cummins laid off 163 workers from the plant in June.
Losses widen for Fortune Industries
Across-the-board problems caused by the sluggish economy resulted in Fortune Industries Inc. reporting a greater loss in its third fiscal quarter than in the same period a year earlier, the Indianapolis company reported yesterday. Fortune lost $3.1 million in the quarter ended May 31, nearly double the loss of a year earlier.
Indy firm drops plans for Greenwood factory
CDI, an Indianapolis company that proposed building a manufacturing plant or possibly a distribution center in Greenwood, has backed off under pressure from neighboring homeowners. The company had planned to rezone a portion of the 121-acre tract for industrial use, and now will turn to planning a housing development, according to the Daily Journal of Franklin. The site is east of Interstate 65, north of Rocklane Road, and between Combs and Five Points Road.
Rolls-Royce snags $900M contract
Defense contractor Rolls-Royce has signed a $900 million contract with Italian aircraft maker Alenia Aeronautica SpA to supply turboprop engines for nine years. The AE2100D2 engine comes from a bread-and-butter line of military engines that the British company designs, develops and manufactures in Indianapolis.
Summer of the Superhero
New films seem disproportionately superhero-focused. Lou Harry's A&E
Living with feisty inflation
A respected adviser warns that it's time to take action. NewsTalk
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Old hospital could face demolition
Ivy Tech wants to tear down Weyerbacher Terrace. Property Lines
Sarah Fisher races back with new sponsor
Fan outpouring for popular driver attracted Dollar General. The Score
From IBJ staff - Compiled by Norm Heikens
New Obama ad features Senator Lugar
Barack Obama is running a new campaign ad featuring Republican Sen. Richard Lugar. In the ad, Obama says the biggest national security threat is nuclear weapons falling into the hands of terrorists. The presumptive Democratic presidential candidate and Lugar sponsored legislation targeting illegal shipments of weapons of mass destruction. Obama has recently focused his campaign on national security. The ad is airing in Indiana and 17 other states. Fox 59 will have more at 10 p.m. |  | | | |
| Reese in court today
The murder suspect charged with shooting an Indianapolis police officer appeared at a court hearing this morning. Brian Reese is accused of shooting Jason Fishburn while police tried to arrest him on murder charges. Police say Reese broke into the home of Clifford Haddix and shot the 69-year-old three times in the head. Doctors say officer Fishburn is opening his eyes and moving the left side of his body, but faces a long rehabilitation. His father, also a police officer, called his progress "a miracle."
Court sets Boone County tax abatement rules
Developers who want tax abatements in a 4,000-acre area of Boone County must get approval from both the county and the town of Whitestown, the Indiana Supreme Court has ruled. The decision, handed down June 30, stems from a legal fight that began two years ago. 
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