Lilly unloads long-time research operations

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	Wednesday, August 6, 2008
	Lilly unloads long-time research operations Eli Lilly and Co. will shed about 440 jobs after the sale of its Greenfield Laboratories and outsourcing other work. But the Indianapolis-based drugmaker hopes Indiana sees no net loss of jobs from its restructuring moves. The announcements this morning are part of a quickening effort by Lilly to reduce overhead costs before it loses patent protection on a string of drugs, which now make up 60 percent of its revenue.   Weak appliance sales hurt HHGregg profit A downturn in sales of high-margin appliances contributed to a 26.8-percent decline in net profit in HHGregg Inc.'s first fiscal quarter, the Indianapolis-based retailer reported this morning. HHGregg, which also sells electronics, reported $2.1 million in profit for the period ended June 30, missing analysts' expectations. However, the company said it expects strong electronics sales this fall.
	Brightpoint profit slips, but shares rise The acquisition of Europe's largest distributor of mobile phones dialed up expenses and lowered second-quarter net profit for Brightpoint Inc. The Plainfield-based wireless phone distributor, which recently acquired Dangaard Telecom, lost $2.3 million, or 3 cents a share, in the period ending June 30 compared to a profit of $17.7 million, or 35 cents a share, in the second quarter of 2007. Revenue soared following the Dangaard deal: $1.2 billion vs. $851 million in second quarter 2007.   Service restored at 1Num Technologies A nightmarish debacle for an Anderson telephone company has ended after some of its customers were disconnected for nearly a week. 1Num Technologies Inc. restored service this morning, said Brian K. Merrill, cofounder and chief operating officer of the 4-year-old company. 1Num learned that its supplier had dropped the phone numbers as a result of internal miscommuniocation.   Trailer maker closing Elkhart plant Sundowner Trailers Inc., a Coleman, Okla., company that manufactures horse and livestock trailers, plans to shutter its plant in Elkhart, according to a notice received by the Indiana Department of Workforce Development. The closing, which will occur between Oct. 3 and 17, will result in 80 workers losing their jobs. The operations are being moved to a plant in the company's headquarters city. Correction A story in yesterday's IBJ Daily should have said Dealer Services Corp. is moving to City Center at Penn Office Plaza in Carmel. Cut to: The city's arts budget Buzz is growing about upcoming cuts to the arts budget. Lou Harry's A&E When to blow the whistle Corporate whistleblowers are losing their jobs. NewsTalk Rivers Edge & Crazy for Cafes Kite is still mum about its plans for Rivers Edge. Property Lines Herb Simon putting hand print all over Pacers New ownership approach is bigger change than expected. The Score From IBJ staff - Compiled by Norm Heikens
	Indiana State Fair starts today The Indiana State Fair opened this morning, with fair-goers getting an opportunity to see 4-H animal shows, a livestock nursery, cheese carving and cooking demos. Free health screenings will be available until 6 p.m. This year, fair organizers are also enforcing designated smoking areas, marked by red umbrellas. Fox 59 will have more at 10 p.m. Obama in Elkhart, vets group campaigns for McCain Senator Barack Obama held a town hall meeting this morning at Elkhart's Concord High School. The Democratic presidential candidate focused on energy and the economy. Meanwhile, Indiana Veterans for McCain is scheduled to hold a press conference at the Indiana War Memorial in downtown Indianapolis.
	Mother accused of abandonment heads to court The mom accused of leaving her 3-year-old son at a Wal-Mart in Frankfort appears in court this afternoon for an initial hearing. Officers say Julia Ornelas, 39, left the boy in the store with a note saying his mother no longer could care for him. Police arrested Ornelas in Indianapolis on Monday after receiving a tip. Ornelas faces charges of "neglect of a dependent through abandonment." Thompson Thrift has begun a $13.5 million mixed-use development on the northeast corner of 116th Street and Olio Road in Fishers. It is the last corner at that heavily traveled and retail-dense intersection to be developed. Geist Landing of Fishers will include a 31,450-square-foot, two-story office building, a 14,375-square-foot retail strip center and four outlots. No tenants have been signed to lease space, but The National Bank of Indianapolis has bought one of the outlots. Construction began July 22 and is expected to be finished in May 2009.
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