Toyota shuffling production at Princeton plant

DJIA 11,142.6 -4.9 / S&P 500 1,243.7 -1 / NASDAQ 2,242.8 +7.9 Tonight: Mostly clear. Low 66. Tomorrow: Warmer with sunshine. High 88.
	Thursday, July 10, 2008
	Toyota shuffling production at Princeton plant Toyota Motor Corp. said today it will stop making Tundra pickup trucks at its plant in Princeton and consolidate production at its new pickup plant in San Antonio. The Indiana plant, which opened 10 years ago, instead will begin assembling the Highlander mid-size sport-utility vehicle in fall 2009. Toyota reported no anticipated change in Sienna minivan production at the Princeton plant. Rising gas prices have forced Toyota and other automakers to emphasize fuel-efficient vehicles at the expense of such gas-guzzlers as the Tundra and Sequoia SUV.   Emmis shares slide after reporting loss Stock in Emmis Communications Corp. dropped 15 percent this morning, to $1.70, after the Indianapolis radio broadcaster and magazine publisher reported a loss greater than Wall Street expected.
	The Indianapolis radio and magazine publishing company said its net loss narrowed to $1.1 million in its first fiscal quarter ended May 31 from $1.9 million in the same period a year earlier. However, the net loss of 5 cents per share from continuing operations was a penny worse than analysts expected.   Lilly investing in venture to speed drug discovery Eli Lilly and Co. is contributing to a $39 million pool of money intended to fund a startup that will develop tools to speed discovery and development of new drugs. Lilly has joined with rivals Pfizer Inc. and Merck & Co. Inc, as well as Boston venture capital firm PureTech Ventures LLC, to form Enlight Biosciences LLC. The people running Boston-based Enlight include several academics and former pharmaceutical industry representatives.   Copper Moon buys Coffee Etc. from Crystal Florida-based Sun Capital Partners continues to sell off pieces of Crystal Food Services, a division of Marsh Supermarkets. Today, locally based Copper Moon Coffee LLC announced that it has purchased Coffee Etc., a division of Crystal Food Services that supplies equipment, coffees, teas, water and flavored syrups to business and convenience store clients. It also roasts beans at its east-side plant and sells them to retailers nationwide. Terms of the deal were not disclosed.   Two more indicted in alleged mortgage fraud A federal grand jury in Indianapolis has charged two more individuals in an alleged mortgage scheme, the U.S. Attorney's Office for the Southern District of Indiana said yesterday. Timothy Hampton and Mia Weir persuaded people to buy houses, then misrepresented the prices to lenders and collected the difference between the purchase price and the inflated values, the office said. U.S. Attorney Timothy Morrison said mortgage fraud is so pervasive that he can't predict when the glut will pass.   IU student, alum, sue Steve & Barry's Two Indiana University friends who sold Steve & Barry's LLC T-shirts through a company they started have sued the struggling retailer for $12,300 they say they are owed. Finance major David Modiano and Matt Kesten, a New York advertising salesman who graduated last summer, say Steve & Barry's hasn't paid them for "Sampsonite" T-shirts their Hoosier Beat company makes, according to the Chicago Sun-Times. The shirts have a picture of former basketball coach Kelvin Sampson, who left the university this year under fire for recruiting violations.   Fitch takes negative view on health insurers Fitch Ratings cut its outlook on the U.S. health insurance sector yesterday, expecting smaller profits and limited financial flexibility for insurers. The company revised its outlook to "Negative" from "Stable," forecasting smaller profits in the sector in late 2008 into 2009. Fitch said results in the sector this year show managed care companies are willing to cut prices, and their ability to forecast costs is not as strong as expected.
	Lawsuit challenges BP oil refinery plan An environmental group has filed a federal lawsuit challenging a state agency's air permit allowing BP to expand its refinery along Lake Michigan. The lawsuit filed yesterday in U.S. District Court in Hammond by the Natural Resources Defense Council contends the $3.8 billion project needs a more-stringent permit because of a significant increase in pollution that the expansion will create. The lawsuit contends that the project at the Whiting refinery will create more pollution than the federal Clean Air Act allows.   Bradley voted in as new ISU president Indiana State University trustees have approved the appointment of Daniel Bradley as the school's new president. Bradley will assume his new position at the end of the month. He replaces Lloyd W. Benjamin III, who stepped down June 30 after eight years in the position.
	Pretending to like new music Should the ISO play unknown, contemporary pieces? Lou Harry's A&E Kempton is red-hot A 'dump' is Indiana's second-fastest growing town. NewsTalk Could Manning abandon Colts? Indy QB not likely to mimic Brett Favre's exit strategy. The Score From IBJ staff - Compiled by Norm Heikens Indiana Black Expo teams up for peace campaign Indiana Black Expo kicks off today with the fourth annual Circle of Peace rally. Organizers hope for 11 days of nonviolence during the event, which started with a noon rally at City Market downtown. FOX 59 will have more at 10 p.m. Woman critical after early morning stabbing A woman is in critical condition at Wishard Hospital after being stabbed in an arm and in the abdomen this morning at the One Force Staffing of Indianapolis employment center east of downtown. The victim called for help from a pay phone. The male suspect is on the loose, and police are calling it a case of domestic violence Stewart racing announcement expected Columbus native and NASCAR champion Tony Stewart is expected to announce his majority ownership in Haas CNC racing today at Chicagoland Speedway. The Gibbs-Stewart Partnership produced two NASCAR Championships and more than $68 million in winnings over a decade. Mold-removal forum scheduled in Johnson County A public forum will be held today to help flood victims deal with mold. The Johnson County Health Department and the Federal Emergency Management Agency will present information about hazards of mold in homes and businesses as well as ways to destroy it. The event starts at 7 p.m. in the Old Main building at Franklin College. Back to the drawing board for Bioanalytical Acquisitions haven't been kind to Bioanalytical Systems Inc. So officials of the West Lafayette company are happy to go back to a strategy of organic growth. The West Lafayette-based drug research company announced late last month that it had sold its Phase 1 clinical trial subsidiary for $850,000. The Baltimore Clinical Pharmacology Research Unit has failed to turn profits since Bioanalytical bought it in 2003. "At the moment we're not thinking about acquisitions. We've got a case of indigestion," said Michael Cox, chief financial officer at Bioanalytical.
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