Louisville firm moving headquarters to Indiana

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DJIA 11,539 -117.1 / S&P 500 1,278.7 -10.5 / NASDAQ 2,370.8 -7.6 Tonight: Clearing and cooler. Low 58. Tomorrow: Lots of sun. High 80.
	Thursday, August 7, 2008
	Louisville firm moving headquarters to Indiana Clarcor Air Filtration Products announced this morning that it will bring 425 jobs to Jeffersonville by relocating its Louisville headquarters and consolidating its Midwest manufacturing operations there. The company, which manufactures filters under the brands Purolator, Air Technologies, Airguard Industries and ATI, will invest $8.5 million to lease and equip a 450,000-square-foot building that will house its headquarters and manufacturing and distribution center. The structure is under construction in the city's River Ridge Commerce Center.   Republic Airways profit, stock price leap Stock in Republic Airways Inc. shot up 14.2 percent today, to $10.60, after the Indianapolis-based carrier reported late yesterday that second-quarter net profit soared 49.3 percent. Republic's $28.4 million in profit was bolstered by a one-time gain of $6 million resulting from an interest-rate swap. Without the swap, Republic still turned a profit of $22.4 million, up nearly 18 percent from the same quarter last year.
	Irwin Financial loses $107M in second quarter Irwin Financial Corp.'s exit from the leasing and home equity businesses helped throw the Columbus bank for a $107 million loss in the second quarter. Irwin also said this morning that it expects to lose that much more in the third quarter as the restructuring draws nearer to an end. However, the bank added that it expects to return to black ink next year after the restructuring is complete and the bank again focuses on its roots of focusing on its branches and small-business lending.   Haynes stock shoots up on report, upgrade Haynes International Inc., a Kokomo company that makes specialized alloy parts used in corrosive and high-temperature conditions, saw its stock price explode this morning after it reported a jump in profit late yesterday and an analyst upgraded his recommendation. The shares traded up 25 percent, to $54.25 each. Haynes benefited from attempts to diversify and expand its markets, and from efficiencies gained from capital upgrades, CEO Francis Petro said in a statement.   Steak n Shake yanks abatement request The Steak n Shake Co. yesterday abruptly withdrew a request for a tax abatement worth more than $100,000 just before a final hearing. The unusual move suggests new management of the struggling chain already may have found an opportunity to cut costs - and the moves could affect the local headquarters. Members of Steak n Shake's management team were unavailable for comment.   40 percent of mortgage brokers lose licenses Nearly 40 percent of Indiana's mortgage brokerages lost their licenses yesterday because they hadn't complied with a new law aimed at raising the standards of the industry in a state with one of the nation's highest foreclosure rates. As of noon yesterday, 361 of Indiana's 950 brokerages had failed to meet a deadline for complying with a 2007 industry-backed law that requires each brokerage to name a principal broker with at least three years experience who has passed a state exam and will oversee his company's business affairs.   Schwab acquired by New York safe company Schwab Corp., a Lafayette company founded shortly after the Civil War, has been acquired by another manufacturer of safes, Rochester, N.Y.-based SentrySafe, for an undisclosed price. Schwab employs 105, including 80 at its manufacturing plant in Cannelton. In addition to safes, the company makes files, cabinets and vault doors. SentrySafe makes residential and small office security-storage containers.
	Firm seeks incentives...after starting expansion Government officials are accustomed to granting economic development incentive to companies in the hope of encouraging expansions that otherwise might not occur. However, in Evansville, Berry Plastics Group Inc. has asked for incentives months after starting construction on an addition to its tool shop, according to the Evansville Courier & Press. The newspaper quoted Vandenburgh County Council President Marsha Abell as saying she wants to know if there is a reason for the delay.   State panel rejects Bloomington property code State officials have rejected Bloomington's property maintenance code, which requires owners of rental properties to comply with new standards even though the structures met codes that were in force when they were built. The Indiana Fire Prevention and Building Safety Commission ruled Tuesday that the code is unreasonable and conflicts with state law. The city's property maintenance code is being challenged in at least three lawsuits that claim the city wants to force owners of apartments and rental houses to increase the size of windows.
	Woman declared dead sues hospital A 67-year-old woman has sued a Valparaiso hospital that mistakenly declared her dead in January, according to the Post-Tribune of Merrillville. Porter Memorial Hospital staff not only confused Diane Wright with a different woman with the same name who died at the hospital, but the hospital didn't respond to her attempts to help clear up the misunderstanding, the lawsuit says. After the incident, Social Security and Blue Cross/Blue Shield canceled her insurance coverage and Wright's husband, Delbert Wright, was billed by Social Security for $2,941, the suit alleges. Latest Broadway cast recordings If you can't see them, is it still worth hearing them. Lou Harry's A&E Play for Pennington means Colts in trouble QB acquisition would show Manning injury is serious. The Score From IBJ staff - Compiled by Norm Heikens   Marion native arrested in shooting of agent Police have arrested Marion native James Patrick Wonder in Florida and charged him with first-degree murder in connection with the shooting of a federal agent near a post office in Pembroke Pines, Fla. Wonder, 65, was taken into custody yesterday after a standoff outside a shopping center. He is accused of shooting Border Patrol agent Donald Pettit in front of Pettit's 12-year-old daughter on Tuesday. Fox 59 will have more at 10 p.m. Father leaves boy alone in busy intersection The mother of a 5-year-old boy is fighting to regain custody after Indianapolis police say her husband, Roger Bertram, left the boy in a running car Tuesday at 62nd Street and Binford Boulevard. The boy told officers his father got out of the car without saying anything. Police found Bertram miles away in Anderson. The boy's mother says she's told the court Bertram has a drug habit. Fire strikes Westfield apartments An overnight fire at a Westfield apartment complex forced some residents from their homes. Investigators believe the fire at Hamilton Square Apartments may have been sparked by an electrical issue. The apartment owner was treated for smoke inhalation. Although crews managed to contain the flames to one apartment, the inside of the building suffered some smoke damage. Residents are being located to other units while firefighters air out the building. Pool parasite illness on the rise Illnesses caused by a chlorine-resistant parasite are on the rise, state health officials says. Illnesses caused by Cryptosporidium, known as crypto, nearly doubled in Indiana from 79 in 2004 to 149 in 2007. Swimmers can ingest the parasite in water parks or swimming pools, with young children in diapers representing the largest source of possible contamination. Ingesting the parasite can cause diarrhea, vomiting, fatigue and minor fevers. Most people recover without treatment. Lilly hit again by disclosure of Zyprexa memos Once again, it's egg on Eli Lilly and Co.'s face. And it's legal this time. Internal documents suggest that Indianapolis-based Lilly trained its sales force to "neutralize" concerns by doctors that its antipsychotic drug Zyprexa caused weight gain and diabetes. The memos were issued in 2002, the year Lilly desperately needed to ramp up Zyprexa sales to make up for its loss of patent protection on its former bestseller, Prozac. Bloomberg wrote about the memos last week after convincing an Alaska judge, over Lilly's objections, to unseal them. In late 2006, The New York Times used most of the documents as the foundation for unflattering stories about Lilly's marketing of Zyprexa.
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