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 DJIA 11,069.3 +53.4 / S&P 500 1,210.8 +3.7 / NASDAQ 2,194.8 +15.8
 |  |  Tonight: Mainly clear. Low 58. Tomorrow: Hazy sun, warm. High 85.
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|  Tuesday, September 23, 2008 |
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Carmel software developer to add 90 workers
Software Engineering Professionals Inc. intends to spend $7 million on an expansion that will result in adding nearly 90 employees to its existing roster of 71, the Indiana Economic Development Corp. announced today. The Carmel company, which develops enterprise and Web-based software for aerospace, medical, defense and automotive customers, plans to finish the expansion within five years. The state offered more than $1 million in performance-based tax credits and $120,000 in training grants.
Accuride shake-up claims CEO, 392 workers
Sluggish sales of new heavy trucks have prompted parts supplier Accuride Corp. to switch out its president and CEO and lay off 392 employees, the Evansville company announced this morning. Directors have accepted the tendered resignation of John R. Murphy and named independent director William M. Lasky as interim president and CEO. Accuride also said it would eliminate 159 salaried positions, and 233 hourly workers. Heavy truck sales have softened as high fuel prices sap profits from trucking companies. 
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Capital Group adding two buildings in Carmel
Capital Group Cos., the California-based parent of mutual fund giant American Funds, plans to add two buildings at a 24-acre site it acquired in Carmel last year, the company said today. A new five-story office building will have 175,000 square feet; the other, a one-story mail-processing center, will have 32,000 square feet. Both will be connected to an existing 106,000-square-foot, three-story building acquired from Opus. When the $50 million expansion is finished in early 2010, it will have capacity for 1,500 employees. The company's 1,000 existing workers are now split between locations in Indianapolis and Carmel.
Best Buy moving into west-side retail center
The Best Buy store at West 38th Street and Moeller Road will move to a new location to be built in Centre West, the redevelopment project at I-65 and Lafayette Road, the Indianapolis-based developer, Centre Properties, announced today. Best Buy will join existing Wal-Mart, Shoe Carnival and Garden Ridge locations in the redeveloped retail center. Also planning to take space in the center are Verizon Wireless, Dots, GameStop, CheckSmart, Pike Plaza Dental and Myra Eyebrows, Centre Properties said.
Conseco chairman buys up shares
Conseco Inc. Chairman Glenn Hilliard snapped up 89,100 shares of the company late last week - at about the same time CEO Jim Prieur bought 200,000 shares, regulatory filings show. Hilliard acquired his shares for $4.61 to $7 each; Prieur acquired his for $4.35 to $4.97. Conseco stock has been flagging since the Carmel insurer announced earlier last week that it had lost $40 million on investments in Lehman Brothers, American International Group Inc. and Washington Mutual Inc. Conseco's shares are up nearly 5 percent today, to $5.89, after closing as high as $7.95 and as low as $4.40 this month.
Carmel grocery exec named in indictment
Carmel resident Scott Drew has been indicted by a grand jury in Los Angeles for allegedly taking part in a scheme to secretly rehire workers of Ralphs Grocery Co. under false names and Social Security numbers. The 47-year old, now a vice president at Ralphs parent company, Kroger Co., was an executive at Compton, Calif.-based Ralphs when he and several other Ralphs executives rehired the workers during a bitter work stoppage against the chain, according to the U.S. Attorneys Office of the Central District of California.
Steel Dynamics raises share buyback by 5M
Steel Dynamics Inc. said today its board of directors approved an increase of 5 million shares to its buyback program. Since an Aug. 16 authorization of an additional 10 million shares, which increased the number of shares that could be repurchased to 11 million, the Fort Wayne steelmaker has repurchased 9.7 million of its shares. Companies often purchase their shares to boost stock price. | | | |
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Endowment gives $10 million to Salvation Army
Lilly Endowment Inc. has given $10 million to the Salvation Army to help relief efforts following recent Gulf Coast hurricanes and flooding in the Midwest. The Indianapolis-based endowment says its gift is the biggest single gift to the Salvation Army in this year's hurricane season and is the same amount it donated after Hurricane Katrina in 2005. Endowment president N. Clay Robbins says the damages caused by the 2008 hurricanes are "daunting and compelling." Since 1949, Lilly Endowment has provided more than $50 million in grants to the Salvation Army.
Review: IRT's 'Sherlock Holmes'
IRT's production is "handsome but passionless." Lou Harry's A&E
Pacers launch new sale, Tinsley issue persists
Mini-season package includes 11 tickets for price of eight. The Score |  | | | |
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From IBJ staff - Compiled by Norm Heikens
Mellencamp gives concert for flood relief
John Mellencamp will perform in Columbus tonight after raising $43,000 in ticket sales for flood relief in Bartholomew County. In recognition of the achievement, Columbus Mayor Fred Armstrong designated today John Mellencamp Day and will make a special presentation to the Hoosier singer-songwriter before the show. The concert begins at 9 p.m. at the historic Crump Theater. Fox 59 will have more at 10 p.m.
Governor candidates face off in Jasper
Indiana's gubernatorial candidates square off tonight in the second of three debates. Incumbent Republican Mitch Daniels, Democrat Jill Long Thompson and Libertarian Andy Horning will participate in a town-hall style debate at the Jasper Arts Center at 8 p.m. The debate will be streamed online through the Indiana Higher Education Telecommunication System and will be posted on the Indiana Debate Commission's website for 30 days.
Man killed in east side shooting
Indianapolis police are investigating an early morning shooting that left a man dead in the 3700 block of North Whittier Place on the east side. Investigators believe Michael Duncan, 25, was shot multiple times after attending a party in the area. Witnesses were unable to provide officers with a good description of the driver or vehicle seen speeding south on the street shortly after the shots were fired. Police do not have a motive or suspect.
Shooting victim improves, suspect arrested
A 12-year-old boy shot last week on the east side could be released from the hospital today. DeAngelo Hawkins was one of several kids playing in an apartment complex playground last Tuesday when someone pulled out a gun and started shooting. Hawkins was taken to Riley Hospital for Children in critical condition, but has been upgraded to good condition. Yesterday, Indianapolis police said they arrested Emmanuel Phillips, 21, in connection with the shooting. Philips faces multiple charges, including criminal recklessness with a weapon. Officers are still searching for Julius Cox, 22, for questioning.
Details drives Mike's
Mike's Express Carwash makes money the old fashioned way-by sweating the details. 
Insurer adopts specialty strategy
WellPoint Inc., long a dominant player in health insurance, is pushing more aggressively into life, dental and vision policies.
Brightpoint boss psyched about smart phones
Brightpoint's Bob Laikin expects solid growth from smart phone sales at a time when most people who want cell phones already have one.
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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