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 DJIA 11,354.5 -27.8 / S&P 500 1,282 -2.8 / NASDAQ 2,283.8 -21.3
 |  |  Tonight: Rain and storms, warm. Low 67. Tomorrow: Scattered rain and storms, cooler. High 77. Fourth of July: Scattered showers, storms and cool. High 76.
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|  Wednesday, July 2, 2008 |
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Tempel chosen to lead IU Foundation
Eugene Tempel, executive director of the Center on Philanthropy at Indiana University, has been chosen to replace Curt Simic as president of the IU Foundation, the university announced this morning. Many of Simic's peers and colleagues said his shoes would be hard to fill, but Tempel, considered nationally an expert on philanthropy and not-for-profit management, might be able to do so. Tempel has led the philanthropy center, which is headquartered at IUPUI, since 1997. He was involved in the center's founding a decade earlier and served as vice chancellor for external affairs at IUPUI. 
Lingering temp hires create mystery
If this were a normal economic slowdown, companies would have eliminated temporary workers in droves beginning last year. But that hasn't happened this time. Indiana companies continued adding temp workers right up until February, and Indianapolis firms extended their hiring a month longer. One expert thinks strong exports are beneath the anomaly.
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|  | Medical properties change hands
Grubb & Ellis Healthcare REIT Inc. has acquired 13 health care properties in the Indianapolis area from HCP Inc., a real estate investment trust headquartered in Long Beach, Calif., for an undisclosed price. The portfolio is spread across 20 buildings and 689,000 square feet, said Grubb & Ellis, which is based in Santa Ana, Calif. Clarian Health occupies nine of the 13 properties. Grubb & Ellis said it wanted the properties because Clarian outpatient locations near Interstate 465 ensured a reliable flow of rent.
Indiana Toll Road workers might strike
An impasse between the private operator of the Indiana Toll Road and the union that has represented collectors since December might lead to a strike, according to WSBT-TV Channel 2 in South Bend. Negotiations were to resume today. The 150 members of the International Brotherhood of Teamsters have worked without a contract since voting in December to join the union.
Flaherty & Collins to manage more apartments
Flaherty & Collins Properties, an Indianapolis construction, development and management firm, announced this week that it will manage an additional 13 apartment communities for Alliant Real Estate Investments LLC. The new properties include 1,200 units in Michigan, Kentucky, Virginia, Tennessee and Georgia. Flaherty & Collins now handles 18 communities and 1,200 units for Alliant, which is headquartered in Woodland Hills, Calif. Including the Alliant properties, Flaherty & Collins manages 72 apartment properties with a total of 10,500 units.
Nappanee RV maker announces layoffs
A Nappanee recreational vehicle manufacturer says it will lay off a portion of its 780-person work force next week due to lack of demand for RVs. Newmar Corp. Personnel Director Keith Weinrich wouldn't say how many positions would be eliminated on July 9. The company eliminated 118 positions in January.
Tenneco expanding Elkhart plant with 2 lines
Auto parts maker Tenneco Inc. will add two catalytic-converter manufacturing lines to its Elkhart exhaust plant as part of a $6 million expansion expected to be finished by year's end. Spokesman Jim Spangler says the company has started hiring, and the expansion will add 60 employees to a work force of 75. The Illinois company makes mufflers, exhaust products and converters at the plant, which sends the parts to other Tenneco operations that supply automakers.
'Wall*E': Quality as business plan
Wall*E offers hope for everything. Lou Harry's A&E
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Executive pay is 'flat'
Local execs are having to work harder to get ahead. NewsTalk
Fun with renderings and Walmart
A new bar, medical offices and Wal-Mart logo. Property Lines
Attendance boom continues for Indians
AAA club scores July 4 sell-out, with other tickets going fast. The Score
From IBJ staff - Compiled by Norm Heikens
Crawfordsville fire consumes pet store
A huge fire burned in a Crawfordsville strip mall early this morning, consuming a pet shop and fireworks store, and spreading to a tax services office. The strip mall is located at 514 S. Washington St. Firefighters are investigating the cause. Fox 59 will have more at 10 p.m.
Explicit-material law tossed out
U.S. District Judge Sarah Evans Barker yesterday threw out a new Indiana law that would have required retailers to pay a registration fee to sell sexually explicit material. The judge ruled that the law was too vague and broad and could have applied to lawful and non-obscene materials such as "R" rated DVDs or someone selling a collection of old Playboy magazines at a garage sale.
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| The checks are in the mail
The state auditor says that more than 210,000 property tax rebate checks will go out between now and July 7. The average check will be about $215 and the total rebate for Marion County is close to $46 million.
Large industrial project planned for Noblesville
A Minnesota real estate development company plans to launch its fourth industrial project in the Indianapolis area, this one bigger than the other three combined. Meritex Enterprises Inc. is developing Noblesville Business Center, a 537-000-square-foot multi-tenant industrial project. The cost of the project is more than $30 million. 
Short of having quotas, how can employers ensure a more diverse work force? 
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