London Witte taking over Grain Dealers site

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	Tuesday, July 29, 2008
	London Witte taking over Grain Dealers site A proposal to turn the Grain Dealers Mutual Insurance building into a hotel and condominiums has died, clearing the way for downtown accounting firm London Witte to buy the building. Local developer Inner-Urban Homes & Hospitality couldn't land financing for the redevelopment at 18th and North Meridian streets. For more, go to IBJ's real estate blog, Property Lines. Pac-Van sold again, for $159M Pac-Van Inc., an Indianapolis company that leases mobile offices and storage units, has been sold again, nearly two years after it was acquired from its founders. General Finance Corp. of Pasadena, Calif., acquired Pac-Van parent Mobile Office Acquisition Corp. in a deal valued at $158.8 million, the companies announced late yesterday. California-based Mobile Office Acquisition bought Pac-Van from brothers Brent, Scott and Matthew Claymon in August 2006.
	Interactive Intelligence shares dip after report Investors drove down the price of Interactive Intelligence Inc. stock this morning after the Indianapolis software developer reported late yesterday that second-quarter profit plunged to $845,000, from $2.4 million a year earlier. The shares traded at $8.43, down 3.7 percent. However, revenue hit a record, and Interactive directors approved buying as much as $10 million of the company's stock in the next year.   Duke Realty increases Georgia holdings Duke Realty Corp. said today it has acquired a warehouse in Savannah, Ga., bringing its leased warehouse space in the port community to 5.3 million square feet. The purchase of the 176,000-square-foot warehouse was disclosed today as Duke announced second-quarter investment activity. Duke has been accumulating property in the port, which is the fourth-largest in the nation.   City sues insurers over brownfield cleanup A discovery of insurance policies abandoned by now-defunct Ertel Manufacturing Co. has led the city of Indianapolis to sue at least 15 insurance companies for costs to clean up the site, the city said yesterday. The city is seeking more than $5 million for removing PCBs, cadmium and solvents from the site northeast of downtown at 2045 Dr. Andrew J. Brown Ave. Major Tool & Machine Inc. is moving its headquarters to the site in an expansion.   Alcoa fires workers over alleged slowdown Ten workers have been fired at Alcoa Inc.'s aluminum smelting and fabrication operation near Evansville and another 20 have been disciplined after the company said they purposely slowed production. Managers claimed the workers were putting in only modest effort, and that data from machinery in the plant showed production slowed from the same time last year, according to the Evansville Courier & Press.   Franklin Electric profit surges Acquisitions and favorable exchange rates helped propel Franklin Electric Co. to a record second quarter. The Bluffton manufacturer of water and fuel pumps today reported profit of $15.3 million, compared to $6.6 million in the same period last year. Revenue shot to a second-quarter record of $201.7 million, up 32 percent.     Richmond councilors balk at new tax The Richmond City Council declined to vote last night on a 1-percent food and beverage tax that would have funded construction of a conference center. Mayor Sally Hutton asked councilors to table the vote in order to give supporters more time to collect and present details to councilors, according to The Palladium-Item of Richmond.
	GM adding to furlough at Fort Wayne plant A full-size pickup plant that General Motors Corp. operates in Fort Wayne will be shut down an additional week in August to allow inventories to shrink, Bloomberg reported. Yesterday's announcement by GM brings to three the number of weeks the plant will be idle. The Detroit automaker also said yesterday that it will eliminate one production shift each at factories in Moraine, Ohio, and Shreveport, La., that make pickups and sport-utility vehicles. Carmakers are slowing production of large vehicles as consumers turn away to save money on fuel costs. Illegal smiles: Pot comedy returns Has pot become acceptable in society? Lou Harry's A&E Hummer buyers are back Buyers of the hulking H2 are laughing off expensive gas. NewsTalk Is IU's Crean evaluating his future? Contract extension shows school is worried he could leave. The Score
	From IBJ staff - Compiled by Norm Heikens   'Bodies' exhibit set to open The controversial "Bodies... the Exhibition" cadaver exhibit opens tomorrow in Claypool Court downtown. The exhibit has stirred debate by using actual human bodies of unknown origin. The sponsoring company, Premier Exhibitions Inc., has been forced to hang signs saying the bodies were "originally received by the Chinese Bureau of Police," and that the company cannot verify whether the cadavers were executed prisoners. Adult tickets are $22, seniors and kids are $18. Fox 59 will have more at 10 p.m. Wounded officer speaks: He wants to go fishing Jason Fishburn, the Indianapolis police officer shot in the head by a murder suspect on July 10, has said his first words since the incident: "I want to go fishing." According to his family, Fishburn also recited the alphabet and counted. Doctors say his condition has improved steadily since he was shot while chasing Brian Reese. An uncle of Fishburn's says he has promised to take him fishing when he gets better. Lucas Oil Stadium on track despite flooding Officials say Lucas Oil Stadium will be ready for its grand opening in less than three weeks despite more than $5 million in damage caused by recent flooding. The total cost of the stadium is now nearly $45 million over initial estimates. The Indiana Stadium and Convention Building Authority says it has a $50 million contingency fund to cover the costs. Fishing in the same pond? Indianapolis and suburban communities increasingly are competing for economic development expansions. Brewing loyalty Independent coffee shops are pushing into voids left as Starbucks pulls back.  WellPoint expected to go global Industry experts say it's only a matter of time before WellPoint Inc. plunges into foreign markets.
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