Racing company to expand manufacturing plant

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DJIA 11652.5 +145 / S&P 500 1291.3 +9.7 / NASDAQ 2402.1 +19.6 Tonight: Dry, storms late. Low 68. Tomorrow: Partly cloudy. High 85.
	Thursday, August 28, 2008
	Racing company to expand manufacturing plant Impact Racing LLC, which manufactures fire suits, helmets and other racing gear, plans to expand by building a plant in Clermont, the Indiana Economic Development Corp. said today. The $3.7 million, 20,000-square-foot expansion is expected to result in hiring 100 workers in addition to the 120 currently on the company's roster. Indianapolis-based Impact Racing received $605,000 in incentives based on reaching expansion targets. Impact Racing is the first tenant in Lost Drive-In Motorsports Park, an industrial park across from O'Reilly Raceway Park that previously was the Clermont Deluxe drive-in theater. WellPoint chief moves up on most-powerful list Angela Braly, who last summer took over as CEO of Indianapolis-based health insurer WellPoint Inc., is ranked No. 4 on Forbes' latest list of the world's most powerful women. That's up from No. 16 last year. The magazine builds the rankings based on a person's public profile and financial "heft." Topping the list is Germany Chancellor Angela Merkel. No. 2 is Federal Deposit Insurance Corp. Chairman Sheila Bair, and third is PepsiCo Chairman Indra Nooyi.
	Union authorizes strike against ArcelorMittal United Steelworkers members in Indiana joined fellow members in other states yesterday in voting to authorize a nationwide strike against ArcelorMittal, the world's largest steel producer, if ongoing contract negotiations fail. At Steelworkers locals covering East Chicago, Burns Harbor and New Carlisle operations, members racked up a string of unanimous votes to authorize a strike as an option, The Times of Munster reported. The current contract expires Monday.   Quadraspec lands $2.5M investment Quadraspec Inc. has snagged another $2.5 million in capital that the West Lafayette-based diagnostic equipment company hopes will carry it to the point of launching its diagnostic products for human use. Indianapolis-based Clarian Health Ventures led the funding round, contributing more than $625,000. Three other firms also joined in, including Michigan-based EDF Ventures, Carmel-based Spring Mill Venture Fund and South Bend-based 1st Source Capital Corp.   Exports, weak dollar fuel Hurco profit Hurco Cos. Inc. reported today that profit in its third fiscal quarter increased 13 percent, to $5.8 million, from the same period a year earlier. The Indianapolis-based maker of machine tools said the jump in the period ended July 31 was driven by sales and service fees in Europe and Asia. North American sales, on the other hand, were down as customers fretted about the economy.   Noblesville Daily Times to stop presses Five years after its launch, the Noblesville Daily Times will stop publishing at the end of the week, the newspaper said yesterday on its Web site. "It's a tough economy, it's a competitive market, and it's a tough time for newspapers in general," Publisher Michael Corbett said in an online story.   Justices: Interest forbidden on workers' comp Indiana law doesn't allow collecting interest on Worker's Compensation benefits, including past-due medical bills, the Indiana Supreme Court said yesterday. The ruling upheld a 2006 decision by the Indiana Workers' Compensation Board. The board denied a request by a dentist who wanted to charge interest on past-due medical bills incurred by treating a patient who received Worker's Compensation benefits from Decatur County Memorial Hospital.
	Grant to support Athenaeum fundraiser A $100,000 grant from Lilly Endowment is intended to help the Athenaeum raise funds to continue restoration of the downtown landmark. The Athenaeum Foundation said yesterday that the grant will support a development director for two years as the foundation looks to projects that range from tuck-pointing bricks, at a potential cost of $250,000, to repairing windows.   Floods swamp Columbus furniture firm Record flooding on June 7 has claimed a downtown Columbus furniture and interior business. Montage Furniture & Design will close after 16 years in business, The Republic newspaper of Columbus reported. More than $100,000 of merchandise was lost when flood waters hit a Montage warehouse. Montage, owned by Trent and Cinde Wirth, will close in several months after its inventory is sold.
	Great mileage, bad wrecks Light cars get clobbered in crashes, a study shows. NewsTalk   Light reading + who is closing The Chinese Ruby restaurant has closed. Property Lines   Olympics take a bite out of IRL TV ratings Infineon Raceway saw a big decline in viewership Aug. 24. The Score From IBJ staff - Compiled by Norm Heikens DNC set for Obama's big speech Barack Obama will officially accept the Democratic Party's presidential nomination tonight and Hoosiers will be gathering to watch the event. The speech will be held at Invesco Field in Denver, and more than 70,000 people are expected to attend. Fox 59 will have more at 10 p.m. Schools, homes evacuated due to spill Two schools and several homes in Avon had to be evacuated as a precaution this morning after a tanker truck carrying jet fuel tipped on its side and crews began cleaning up. The accident happened on State Road 267 near U.S. 36. New traffic safety campaign launched In anticipation of higher traffic volume over Labor Day weekend, a new safety campaign was unveiled this morning at Indiana State Police Headquarters. It encourages people to use their seatbelts and use a designated driver. The effort will include 46 billboards across Indiana. Decision possible in Cumberland doctor case A decision could come today in the case of a Cumberland doctor who was the target of a federal investigation. Elmer Manalo appeared before the Indiana Medical Licensing Board yesterday. He already was being probed on drugs-for-favors accusations when his medical license was suspended last September after the state accused him in an alleged murder-for-hire plot. Investigators also say Manalo was known as the pill doctor, because he would prescribe anyone painkillers for money. Lilly's pipeline? Pennies on the Zyprexa dollar By now, just about everyone knows Eli Lilly and Co. faces a big sales shortfall in 2011, when it loses patent exclusivity on its bestselling drug, the antipsychotic Zyprexa. Wanna know exactly how big a shortfall? For every dollar lost in 2012 due to Zyprexa facing generic competition, Lilly will generate only 29 cents from new drugs launched between now and then, according to Avos Life Sciences, a consulting and market research firm in North Carolina.
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