McGowan Insurance building downtown HQ

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DJIA 11,353.4 -125.1 / S&P 500 1,26.7 -11.9 / NASDAQ 2,394 -23.1 Tonight: Evening storm, mild. Low 65. Tomorrow: Lots of sun, warm. High 85.
	Tuesday, August 19, 2008
	McGowan Insurance building downtown HQ McGowan Insurance Group Inc. plans to spend $2.5 million to build a new headquarters at 340 N. Capitol Ave. As part of the expansion, McGowan will also add 13 jobs. The 19,000-square-foot office building will occupy what is now vacant land east of Bourbon Street Distillery. The 75-year-old insurance agency will move from the 18th floor of Market Tower, at 10 W. Market St.   Pharmakon moving to Carmel in expansion Indianapolis-based Pharmakon LTC Pharmacy Inc. will pay an average of $50,000 a year to each of the 52 employees it plans to add in the next five years. The institutional pharmacy will move to a larger headquarters and warehouse in Carmel as part of its expansion, Indiana Economic Development Corp. said today. The $1.2 million project will add pharmacists, pharmacy technicians and shipping personnel.
	Finish Master profit hurt by economy One-time events caused Finish Master Inc. profit to rise to $5.3 million in the second quarter, from $4.6 million a year earlier, the Indianapolis company reported yesterday. However, the improvement was driven by proceeds from a lawsuit settlement and a non-recurring charge taken in second quarter of 2007. Excluding those events, Finish Master profit was $1.08 a share, a 4-cent decline from last year. Demand for the auto paint and accessories the company distributes has weakened because of the slow economy and drivers spending less time on the road, Finish Master said. OFS Brands buys hotel furniture maker Huntingburg office furniture manufacturer OFS Brands Inc. has acquired Loewenstein Inc., a maker of hotel furniture headquartered in Pompano Beach, Fla., for undisclosed terms. Family-owned OFS said the deal opens a seamless expansion into the hospitality market, and that OFS will protect the character of the Loewenstein brand and allow it to operate independently in the marketplace. Huntingburg is located between Evansville and Louisville in the heart of the state's hardwood industry. Lilly's Byetta might be tied to swelling, deaths There's bad news for one of Lilly's up-and-coming drugs. The Food and Drug Administration warned health professionals yesterday that the diabetes drug Byetta might be linked to six cases of severe inflammation of the pancreas, according to MarketWatch. All six patients were hospitalized and two died.   Big farmland auction planned A farm auction scheduled near Frankfort is thought to be one of the largest in the state in the past couple of years. Schrader Real Estate and Auction Co. Inc. of Columbia City plans to auction 1,222 acres from the estate of Ron Unger, a farmer who started from scratch and built the operation to raise thousand of hogs. Purdue University said this month that its June survey of farmland prices shows the average price for prime farmland rose 13.5 percent in the last year, to $5,003 an acre.   GM offers employee pricing to all General Motors Corp. says it is offering employee pricing to everyone on nearly all 2008 and some 2009 vehicles. The Detroit automaker says the deal includes all 2008 vehicles except medium-duty trucks. Employee discounts generally are 10 percent below the invoice price but vary by model. GM in the past has used incentives across most of its model lineup to clear out inventory to make way for new models.
	Doctor fined for dumping patients' files in trash A physician who dumped in the trash more than a dozen boxes filled with patients' sensitive medical records has been fined $1,250 by state officials. Dr. J.B. O'Donnell agreed to the fines and promised to post information about the possible security breach on his Web site for 30 days. Last October, boxes filled with personal patient records tucked inside manila envelopes were found spilling out of an open trash bin behind O'Donnell's Bloomington office.   On the brink of IndyFringe 2008 Mass Ave. is about to liven up with IndyFringe. Lou Harry's A&E Susan Bayh as a political liability McCain could make hay from Bayh's corporate ties. NewsTalk Will WNDE's JMV drive over to The Fan? Popular afternoon sports/talk host could be targeted. The Score From IBJ staff - Compiled by Norm Heikens
	Colts get first taste of new digs Fans had their first look at Lucas Oil Stadium over the weekend. Now it's the players' turn. The Colts had their first practice at the new venue this morning. Safety Bob Sanders and defensive end Dwight Freeney could see their first action of the summer after recovering from injuries that required surgery. Coach Tony Dungy says he expects injured quarterback Peyton Manning to return next week. Fox 59 will have more at 10 p.m. Community leader, advocate for the needy dies Indianapolis is mourning the overnight death of Rev. Lucious Newsom. Newsom came to Indianapolis 20 years ago, making it his mission to feed the hungry. He and friend Anna Molloy joined forces to build The Lord's Pantry, also known as Anna's House. Newsom had been hospitalized for pneumonia and accumulation of fluid around his heart. He was 93. Ballard calls for drainage improvement project Mayor Greg Ballard has introduced a high-priority drainage improvement project near Kessler Boulevard and Grandview Drive. The area has been selected for the city's water quality improvement program to curb raw sewage overflows into rivers and streams. It also will address chronic flooding and eliminate failing septic tanks. The city has not projected a cost for the project. Police ID shooting victim Indianapolis police have identified the victim of a deadly shooting Monday night as Antwan Thomas. The 24-year-old was shot in the 900 block of Udell Street, south of Crown Hill Cemetery. Anyone with information is asked to call Crime Stoppers at 262-TIPS. Divisive biz dean departs Former University of Indianapolis business school dean Mitch Shapiro has taken a new job. Faculty had claimed he created a hostile work environment. WNDE holds off sports-talk upstart Long-time sports/talk station WNDE-AM 1260 has beaten back newcomer WFNI-AM 1070 in a critical listener demographic despite WFNI's extensive promotion of hosts Eddie White and Indianapolis Star sports columnist Bob Kravitz.  Nordstrom looks up The new Nordstrom in the Fashion Mall at Keystone is poised to burnish the mall's reputation as the region's highest-end shopping destination.
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