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DJIA 11,305.5 -72.5 / S&P 500 1,259.9 -8.4 / NASDAQ 2,298.4 -27.2 | | Tonight: Mainly clear, less humid. Low 69. Tomorrow: Mostly sunny and pleasant. High 87. | |
| Friday, August 1, 2008 |
| IU receives record $525M in grants, awards Indiana University announced that it received a record $525.3 million in grants and awards for research and other programs in the 2007-08 fiscal year. The amount was a 21-percent increase over the prior year. IU said $263.4 million came from federal sources, also a record. It was the first time any school in Indiana exceeded the half-billion-dollar mark, IU President Michael A. McRobbie said in a written statement.
Brightpoint mulled out-of-state move Brightpoint Inc., which announced this morning that it was moving its headquarters from Plainfield to Indianapolis, said it made the decision after considering cities in other states that are hotbeds for distribution. The wireless-device distributor said cities it considered included Chicago, Dallas and Phoenix. Ultimately, it chose northwest Indianapolis, near where it was founded 20 years ago. The company did not request or receive incentives to stay.
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| | Logistics firm to open distribution center, hire 30 Louisiana-based Cross Road Centers, a third-party logistics provider, plans to spend about $6.7 million to open a distribution center near Indianapolis International Airport and hire 30 workers by 2011. The 600,000-square-foot warehouse will be in an existing Duke Realty Corp. building in the AirWest Industrial Park. Cross Road Centers expects to open the facility by the end of the year. The company will receive up to $180,000 in tax credits and training grants from the Indiana Economic Development Corp. The town of Plainfield will provide a property tax abatement.
Law practices merge into 7-attorney firm Two area law firms, Coleman Stevenson LLC and The Montel Law Firm PC, have merged. Coleman Stevenson specializes in corporate law, real estate, governmental services and civil litigation. The Montel Law Firm specializes in mergers and acquisitions, corporate finance, and real estate and land development. The new firm, which has seven attorneys and three support staff, is called Coleman Stevenson & Montel LLP. It will relocate to 3802 W. 96th St. in October.
Paul Tracy, Subway looking at IRL return Walker Racing seeking way to get popular driver on track. The Score
From IBJ staff - Compiled by Tracy Donhardt
Former deputy accused of faking Air Force orders A fraud case involving a former Marion County Sheriff Department's deputy will be turned over to the prosecutor's office today. Ernest Barnett, 56, is accused of faking orders from the Air Force to get time off work. Investigators say the deception cost Marion County about $2,300. Barnett resigned from the department July 9 amid an internal affairs investigation.
Hearse caravan advocates peace in streets Local funeral home directors plan to lead a peace-in-the-streets hearse caravan later today. The caravan comes in response to recent violence throughout the city. It will leave from the Glendale Town Center at 5:30 p.m. Indianapolis had 18 homicides in July.
Gun-store burglary suspects to appear in court Three teenagers arrested during a police investigation into a burglary at Don's Guns will appear in juvenile court this afternoon. Prosecutors believe the teens used a stolen car to smash into the west-side gun shop last Friday and steal several weapons.
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| Wings of Freedom Tour flying into Indiana A high-flying history lesson is landing in central Indiana this afternoon. The Wings of Freedom Tour showcases authentic World War II bombers. The tour runs through Monday at Mount Comfort Airport.
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| | | | | | Visit IBJ's Web site, www.ibj.com | | | | Indianapolis Business Journal has launched a redesigned Web site with news updated throughout the business day. | | | At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast. | |
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