Davis Homes shuts down

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	Wednesday, July 23, 2008
	Davis Homes shuts down One of the state's largest local homebuilders ceased operations today after a mighty fight to survive a nasty market. Davis Homes joined more than 30 homebuilders nationwide that have discontinued operations since 2007. The builder said it has secured warranty insurance so Davis homeowners will be covered. It also has arranged for regular maintenance and is looking for other homebuilders to complete its neighborhoods.   Investors cheer WellPoint earnings Wall Street rejoiced today after WellPoint Inc. posted second-quarter profit that exceeded analysts' estimates. Investors bid up shares of the Indianapolis-based health insurer as much as 9 percent. As of late this morning, the stock traded at $52.06, up 6.8 percent. Its profit of $750.5 million was down 10 percent from a year earlier; still, the $1.44 per share was better than the $1.36 predicted by analysts surveyed by Thomson Financial.
	Bear market is over, stockbroker says Several indicators suggest the bear market in stocks is over and greener pastures lie ahead, an Indianapolis broker says. Kevin Schmidt, executive vice president of the private client group at City Securities Corp., said most of the bad news has emerged from the housing, airline and finance debacles, which suggests investor sentiment will begin to turn positive. "It's not as bad as everybody thinks," Schmidt said. "The overreaction to the negative has happened."   First Internet Bank profit slumps Charge-offs on consumer loans crimped second-quarter profit for First Internet Bank, its parent, First Internet Bancorp, said yesterday. The bank reported $437,000 in profit, down 48 percent from the same period a year earlier. First Internet Bank charged off $343,000 in the most recent quarter and set aside an additional $767,782 for potential losses.   Chateau Thomas buys former Ritter's site A giant barrel complete with staves and banding will replace an abandoned Ritter's location in Plainfield, now that Chateau Thomas Winery has acquired the site and launched a renovation. The former Ritter's location, which is next to Chateau Thomas at I-70 and State Road 267, had been vacant for four years. The additional space will be used for serving food and wine outdoors during events, including music and possibly movies, he said. Next year the winery might add a farmers' market.   Toll Road operator, union renew talks The private operator of the Indiana Toll Road says it will resume contract talks today with the union that represents its toll collectors. Talks between Indiana Toll Road Concession Co. and the International Brotherhood of Teamsters stalled in early July, and neither side had budged from its stance on the percentage of temporary workers they would accept on the 157-mile northern Indiana highway.   Zimmer stock slides after profit falls Shares of Zimmer Holdings Inc. fell 5.5 percent today after the Warsaw orthopedic-implant maker reported late yesterday that second-quarter profit fell 2 percent due to a surge in operating costs as it launches several products. The stock traded at $66.98 per share. The results fell short of analyst expectations.   YourEncore opens office in Europe Indianapolis-based YourEncore Inc. has launched an office in the United Kingdom primarily to serve one of its main customers, Cincinnati-based Procter & Gamble Co.
	Founded in 2003, YourEncore enlists retired scientists and engineers to help companies in the life, consumer and food sciences as well as in specialty materials, aerospace and defense. It has a roster of 4,000 retirees. Confess: books you haven't read Even compulsive readers have major gaps. Lou Harry's A&E Fist-bumping the handshake When does a fist bump beat a handshake? NewsTalk Danica vs. Milka = increased hype Video views of the fight are off the charts. The Score From IBJ staff - Compiled by Norm Heikens
	South-side man found dead in apartment Police found a 67-year-old man dead in his Southport apartment late last night after family members were unable to reach him by telephone. David Flannery sustained significant trauma to his body, and his car was discovered more than three miles west of the Green Tree apartment complex. Investigators have not said how Flannery died. Fox 59 will have more at 10 p.m. Two injured in overnight fire A person who jumped out a window to escape an early-morning house fire northeast of downtown received minor injuries, and another person sustained a minor cut to a hand. The fire was brought under control in a few minutes, but there's no word on how it started or the extent of the damage. The house is at 1639 Nowland Ave. near Woodruff Place. Shooter threatened second woman, reports show Carl Wills, the man who police say killed his ex-wife and her boyfriend before turning the gun on himself yesterday, had threatened the former wife, police reports show. Two of six reports obtained by Fox 59 also show Wills threatened a previous girlfriend and her 2-year-old daughter. A report from May last year says Wills pushed the girlfriend and tried to strangle her. Police say the she filed a protective order. Office, industrial markets holding their own The Indianapolis office market ended the second quarter with an 18-percent vacancy rate, just barely higher than the 17.9-percent vacancy rate at the end of the prior quarter, reported Summit Realty Group in its Indianapolis Office Report released July 21. Vacancy in the city's industrial market at the end of June was 9.5 percent, down from 10.2 percent at the end of March.
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