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 DJIA 11,356 +68.5 / S&P 500 1,267.1 +4.2 / NASDAQ 2,259.7 +14.4
 |  |  Tonight: A few storms, warm and muggy. Low 71. Tomorrow: More storms, some severe. High 90.
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|  Monday, July 7, 2008 |
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Interactive Intelligence shares plunge on forecast
Interactive Intelligence Inc.'s stock price plummeted as much as 35 percent this morning after the Indianapolis software developer warned that second quarter results would be hurt by fewer orders from existing customers. The shares fell $3.66, to $6.80 each, in early trading. Interactive said earnings will be 12 cents to 14 cents per share, below the 17 cents anticipated by analysts. 
Office vacancy rate steady in second quarter
A resilient service economy kept the Indianapolis-area office vacancy rate stable in the second quarter, according to Colliers Turley Martin Tucker. The vacancy rate inched up to 17.2 percent from 17 percent in the first quarter. A year earlier, the rate stood at 16.8 percent. Colliers principal and senior vice president Jon R. Owens said Indianapolis is holding up better than many other metro areas due to its broad base.
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|  | Lilly shares steady after judge rules on Zyprexa
Stock in Eli Lilly and Co. fell 41 cents early today after a federal judge last week in New York urged Lilly to settle a multibillion-dollar lawsuit filed by insurance companies, unions and others who claim the pharmaceutical giant overpriced its top-selling drug Zyprexa and exaggerated its usefulness. The shares traded near $46.57 late this morning. U.S. District Judge Jack Weinstein said he was prepared to grant class-action status for the lawsuit brought by Mid-West National Life Insurance Co. of Tennessee and others.
Calif. never tried to collect insurer's $1M fine
California regulators admitted last week that for more than a year they didn't even try to enforce a $1 million fine against health insurer Anthem Blue Cross because they feared they would be outgunned in court. In early 2007, the Department of Managed Health Care pledged to fine the state's largest insurer for "routinely rescinding health insurance policies in violation of state law," but it never sent a bill. The department's director, Cindy Ehnes, told The Associated Press on Thursday that the agency has had success in forcing smaller insurers to reinstate illegally canceled policies and pay fines, but Blue Cross is too powerful to take on.
Junior Achievement chief to retire
Jeff Miller, who has served as president and CEO of Junior Achievement of Central Indiana for 16 years, will retire at the end of 2009, the not-for-profit announced today. Miller said in a statement that he wants to complete the culinary school that Junior Achievement and Ivy Tech Community College are building at the Gene B. Glick Junior Achievement Education Center, 7435 N. Keystone Ave. The center is located at Junior Achievement headquarters. Junior Achievement teaches school-age children fundamentals of free enterprise, business and economics.
Printing Partners buys direct mail firm
Printing Partners Inc., one of the larger commercial printers in the Indianapolis area, has acquired Budget Direct Mail for a price the printing firm describes as greater than $500,000. The printing firm will use the direct mail acquisition to vertically integrate direct mail campaigns. The company now will be able to develop, produce and implement promotional campaigns for Budget Direct Mail's clients, many of which are auto dealers, said Printing Partners co-owner Michael O'Brien.
Steve & Barry's might close 100 stores
Steve & Barry's LLC, a clothing retail chain with stores in Washington Square and Lafayette Square malls, is considering closing 100 stores as it struggles to pay its debts, according to published reports. It isn't clear how many stores would close and whether any closings would include the Indianapolis locations. A bankruptcy law firm is discussing options with the company, the Associated Press reported.
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| Rule could spur more trips to Indiana casinos
State gaming regulators have approved a rule change that could bring more high-rollers to Indiana casinos on group trips that often include free meals or rooms for gamblers. The Indiana Gaming Commission approved a new rule that makes business cheaper and easier for so-called "junketeers" - firms that organize casino trips and are generally paid based on how much their customers gamble or are expected to gamble. Under the rule change, junketeer firms no longer must be licensed casino suppliers and will no longer have to pay a $5,000 fee.
Thompson seeks more mileage from gas prices
Jill Long Thompson's campaign calls them pocketbook issues, not political issues. Regardless, it's clear that the Democratic nominee for governor believes she's scoring campaign points with her repeated calls for Indiana Gov. Mitch Daniels to temporarily suspend the sales tax on gasoline and her proposal to cap the tax at any pump price above $2.75 per gallon. Whether they're paying off or not, she's made her pitches for cutting sales taxes on gas a major plank of her campaign - one that has put Daniels on the spot for a response over and over again.
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| Plans for rickshaw service stalls in Bloomington
Plans for a rickshaw service that would give visitors a new way to see Bloomington's sights have stalled because officials aren't sure how to regulate open-air taxis. Chris Waggoner sees the bicycle-powered rickshaws as a fun, efficient way to tour Indiana University's campus and Bloomington's downtown attractions. But the idea is on hold because the city has yet to give him a permit to operate.
You-review-it Monday
Share thoughts on your weekend entertainment. Lou Harry's A&E
Is Bloomington anti-business?
A rickshaw entrepreneur is fighting Bloomington city hall. NewsTalk
New renderings of Allen Plaza
More glass is planned for Jefferson Plaza revamp. Property Lines
Big 10-Pac 10 football challenge could be a hit
Five games over Labor Day weekend would open season. The Score
From IBJ staff - Compiled by Norm Heikens
Home invasion results in death
An east-side Indianapolis man is dead, apparently the victim of a late-night home invasion. Clifford Haddix, 69, was found in his 3002 Newton Ave. residence after a neighbor noticed Haddix's lights on later than usual. Police say the victim suffered violent trauma, but haven't released the cause of death. Investigators also say the home was ransacked and that they found signs of forced entry at the front door. Fox 59 will have more at 10 p.m.
Two die in weekend drownings
An Avon man and a 4-year-old boy are dead after separate drownings yesterday. Conservation officers recovered the body of a 19-year-old Avon man at Raccoon Lake in Parke County after the man, whose name is being withheld, reportedly told a friend he was getting tired after swimming to a floating fishing dock. The boy, Mason C. Pfifer, of Tipton swallowed water and started to panic while swimming at Hidden Lake campground near Fairmount.
Mosquito deluge may follow flooding
If you notice a surge in mosquitoes around central Indiana this summer, blame recent flooding and rain. Experts say four times the usual number of mosquitoes could be swarming due to heavy rains over the past six weeks. Exterminators also report an increase in calls for help from homeowners battling ants, termites and other insects trying to escape flooded habitats.
Chamber suing chamber
The Indiana Chamber of Commerce is suing its Christian counterpart, alleging trademark infringement, unfair competition, competition and forgery.
Candidates surface for IU's AD job
Former IU football star Harry Gonso and University of Louisville athletic director Tom Jurich are among well-known names surfacing as potential replacements for Indiana University Athletic Director Rick Greenspan.
Noble Roman's slapped with suit
Nine former Noble Roman's franchisees and a current operator have filed a lawsuit charging that the Indianapolis chain lied to them about the cost and risk of opening its pizza and sub restaurants.
Short of having quotas, how can employers ensure a more diverse work force? 
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