Auto downturn 'not a pretty sight' for Indiana

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DJIA 11,196.3 -192.1 / S&P 500 1,228.7 -26.4 / NASDAQ 2,224.6 -49.3 Tonight: Mostly clear and mild. Low: 58. Tomorrow: Sunny and warm. High: 83.
	Monday, September 22, 2008
	Auto downturn 'not a pretty sight' for Indiana Indiana auto parts plants will continue laying off workers and closing for at least another year, and the plants probably won't bounce back when auto sales recover, likely in 2010, experts say. Rebecca Lindland, director of automotive research at Massachusetts-based Global Insight, said that when sales rebound, most of the increased production will emerge at newly built assembly plants in the largely non-union southern United States - and those sprawling plants won't buy many parts from as far away as Indiana. "It's not a pretty sight right now" for Indiana, she said.   Furor over Indiana time issue may be fading The public intensity over time as a political issue in Indiana may be fading somewhat, and it hasn't been a major topic in this year's governor's race - at least not on the surface. But the sun hasn't set on the quarrel that's dragged on for decades, and became especially heated in 2005 when Republican Gov. Mitch Daniels got statewide observance of daylight saving time through the Legislature without a single vote to spare in the House.
	McCain outraised Obama in Indiana in August Republican John McCain's presidential campaign raised more money from Indiana residents last month than Democrat Barack Obama's, although Obama still has received more overall contributions from Hoosiers. Updated Federal Election Commission reports filed over the weekend show that McCain collected $362,235 in Indiana during August, while Obama raised $260,447. Obama still has raised nearly 50 percent more money than McCain from Indiana residents since their campaigns started last year. Obama has collected nearly $1.9 million, with McCain raising about $1.25 million. State to pay for waived fees on Toll Road Indiana will reimburse the private operator of the Indiana Toll Road for the state's decision to temporarily waive fees along the tollway to alleviate congestion during floods last week that closed northwestern Indiana freeways for days. Jane Jankowski, a spokeswoman for Gov. Mitch Daniels, said Friday that the state will reimburse Macquarie-Cintra - a Spanish and Australian consortium - for its lost revenue.   Miller Building Systems closes Miller Building Systems Inc., an Elkhart-based manufacturer of modular houses and commercial buildings, has gone out of business and is shutting a plant in the northern Indiana city and another at Leola, Penn. The closing eliminates more than 200 jobs, including 125 in Elkhart, according to the South Bend Tribune. The company was acquired in 2006 from Middlebury-based Coachmen Industries Inc. by a consortium including The Warrior group Inc., Opus Acquisitions Group LLC and Eagle Partners LLC. Stocks fall as investors await bailout plan Wall Street fell in trading Monday morning as investors nervously awaited further news about the government's plan to buy $700 billion in banks' mortgage debt. The Dow Jones industrials were down more than 150 points while the credit markets remained nervous, but not showing the signs of panic that Treasury trading saw last week.   Morgan Stanley to sell 20-percent stake Investment bank Morgan Stanley said today that it has signed a letter of intent to sell up to 20 percent of the company to Mitsubishi UFJ Financial Group Inc. The framework for a deal comes just hours after Morgan Stanley, one of Wall Street's biggest investment banks, received regulatory approval from the Federal Reserve to become a bank holding company - making it a commercial bank and allowing it to receive deposits. Morgan Stanley now will be regulated by the Fed instead of the Securities and Exchange Commission.
	You-review-it Monday What were your A&E experiences over the weekend? Lou Harry's A&E Union tensions loom in Congress Legislation would eliminate secret ballots. NewsTalk Have we learned nothing? Are C.P. Morgan's incentives a gimmick? Property Lines Colts show Vikings how to get a stadium On-field rivals become off-field allies during recent tour. The Score From IBJ staff - Compiled by Norm Heikens Vote set for tonight on Ballard budget The City-County Council is scheduled to vote tonight on Mayor Greg Ballard's proposed 2009 budget. The spending plan has caused controversy because it would reduce funding for parks and the arts. Ballard's plan to hire 100 additional police officers has been put on hold because the money isn't there. Fox 59 will have more at 10 p.m. Goodyear ready to test tires at IMS Goodyear will conduct tests at Indianapolis Motor Speedway over the next few months to analyze problems that surfaced a day before this year's Allstate 400. Some cars couldn't make it even three laps without tires wearing to the cords. The first series of tests is today and tomorrow.
	Carroll County crash claims three lives A crash east of Lafayette in Carroll County left three Delphi residents dead and two injured. Police say 64-year-old Terry Snider, 43-year-old Gary Stonebraker, and 43-year-old Trina Stonebraker were killed when their car was struck by a truck that failed to yield at an intersection. Who's taking the biggest hit? The tough economy is touching all Hoosier industries, but some are hurting more than others.   Local players eyeing tower Paul Kite Co. has emerged as a top contender to buy the 28-story M&I Plaza.   Art museum pursuing Miller home The family of Columbus industrialist J. Irwin Miller is poised to donate his majestic home to the Indianapolis Museum of Art.   If a parent leaves the work force for a number of years to raise a child, how much of an effect do you think that has on his or her career?
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