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 DJIA 10,722.10 -332.4 / S&P 500 1,172.3 -41.3 / NASDAQ 2,128.5 -79.4
 |  |  Tonight: Clear and cool. Low 54. Thursday: Lots of sun, pleasant. High 77.
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|  Wednesday, September 17, 2008 |
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Indy investors take control of startup for $80M
Two Indianapolis-area investment funds and several local individuals have bought a controlling stake in a startup company in a St. Louis suburb for more than $80 million. The company, Furminator Inc., sells combs for untangling undercoats of dogs and other animals. Equity investors include Hammond Kennedy Whitney & Co. and Cardinal Equity Partners. 
Conseco loses $40M on Lehman, AIG, thrift
Carmel-based Conseco Inc. disclosed late yesterday that it has suffered a $40 million loss on sales of its investments in Lehman Brothers, American International Group and Washington Mutual Inc. As of yesterday, Conseco still had $103 million invested in the companies. Wall Street firm Lehman has gone bankrupt; AIG, a giant insurer, is being bailed out by the Federal Reserve Bank; and Washington Mutual, a large Seattle-based thrift, is struggling with mortgage losses.
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Kite stock slumps to 52-week low
Shares in Indianapolis-based Kite Realty Group Trust hit a 52-week low this morning in what is shaping up as another rough day for Indianapolis developers and Wall Street as a whole. Kite, which owns and develops retail properties, including Glendale Town Center, fell nearly 4 percent this morning to trade at $10.75.
St. Francis back in Humana network
St. Francis Hospital & Health Centers has reached a contract with managed-care giant Humana Inc. to provide health services to Humana's 164,000 members in Indiana, the parties announced today. St. Francis has been out of the network since June 2007. St. Francis facilities included in the agreement include St. Francis Hospital & Health Centers in Indianapolis, Beech Grove and Mooresville; St. Elizabeth Regional Health and Home Hospital in Lafayette; and St. Clare Medical Center in Crawfordsville.
Private support to IU hits record
Indiana University fielded $408.6 million in support from donors and non-government research grants in its most recent fiscal year, the university announced today. The figure was a record. Gifts to IU Foundation and Riley Hospital for Children hit records, and nongovernmental grants were the second-highest ever.
Investor in Anderson call center pulls out
Employees of Agape Communications in Anderson were not paid in late August and early this month because sales soured and a key investor pulled out. The news emerged after some workers walked off their jobs recently after not receiving paychecks, according to The Herald Bulletin of Anderson. Employees told the newspaper that co-owner Jeff Rogers said he would pay them if he had the money.
Firestone to close Noblesville air-spring plant
Firestone Industrial Products Co. will phase out its air-spring manufacturing operation in Noblesville and close the plant, probably in the second half of 2009, the company said yesterday. The company said in June it would consider closing the plant because of competition from foreign markets and filed notice with the United Steelworkers union, which represents about 250 of the 300 employees at the plant.
EnerDel snags $4M defense research contract
EnerDel Inc., an Indianapolis battery developer that last month announced a $100 million expansion, said today it has received a $4 million grant from the U.S. Department of Defense to create lightweight batteries for unmanned aircraft and for tracking military assets in harsh climates. EnerDel is owned by New York-based Ener1 Group Inc. | | | |
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Daniels, Thompson clash on economy
Democratic challenger Jill Long Thompson and Republican Gov. Mitch Daniels clashed over the economy, taxes and privatization last night, seven weeks before the Nov. 4 general election. The sharpest debate came over the state of Indiana's economy. Daniels said the state has been cited for having a strong economic climate, but Thompson challenged his assertion that the state's economy was doing well.
Answers elusive on costs of illegal immigration
Lawmakers trying to determine how much illegal immigration is costing Indiana are getting few answers. An interim legislative committee met yesterday in the hope of gaining a clearer picture of the financial impact of illegal immigration in areas including Medicaid, prisons and schools.
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| Lehman's not-for-profit fallout
Charities also take hits when big business goes under. Lou Harry's A&E
Signs and the First Amendment
Another suit has been filed over a political sign ordinance. NewsTalk
Fisher fighting to get back on track
IRL racer talking with Dollar General and other sponsors. The Score
From IBJ staff - Compiled by Norm Heikens
12-year-old stable after shooting
Gunfire that erupted during a fight last night has left a 12-year-old student at John Marshall Middle School in a hospital in stable condition. DeAngelo Hawkins was shot in the back as a result of an altercation between at least two people. Detectives are looking for a black male in his 20's who may go by the name "Juno." The man is described as 5 feet, 10 inches tall, with short dreadlocks. He was last seen wearing a white T-shirt and armed with a semiautomatic pistol. Fox 59 will have more at 10 p.m.
Man arrested over fatal east-side shooting
Indianapolis police arrested 18-year-old Santana Gray last night in connection with a double shooting that killed one person and wounded another. Anthony Jenkins, 25, and Wayne Williams, 43, were working on a car in the 900 block of North Dearborn Street yesterday afternoon when a man armed with a semiautomatic pistol opened fire. Jenkins died.
Indiana soldier killed at Texas Army base
A Hoosier soldier has died at Fort Hood in Texas. Firefighters found the body of Army Specialist Aaron Allmandinger, 22, of Mulberry, on Thursday following a fire at a duplex. Investigators aren't saying whether they believe the fire was intentional or if anyone else was in the duplex. Allmandinger was in Iraq for 15 months and had received the Army Commendation Medal for saving fellow soldiers during an ambush. He leaves behind a wife and daughter.
Shelbyville casino betting on new facility
Members of the media took a hard-hat tour of Indiana Live Casino's new facility this morning. The 233,000-square-foot casino in Shelbyville will employ as many as 650 people. It will also feature slots, electronic gambling, and upscale dining and nightlife destinations, including Maker's Mark Steakhouse and NASCAR Sports Grille. Indiana Live Casino will move into the facility in early 2009.
Businessman perseveres on Broad Ripple plan
Undeterred by repeated setbacks, a local businessman plans to continue fighting to develop a 7,700-square-foot mixed-use building in Broad Ripple. Bert Miller, owner of a local executive-search firm, wants to build a three-story structure at 6548 Cornell Ave. that could include a ground-level cafe or retail space, second-floor offices and third-floor lofts. But the project, which Miller first proposed in February, has drawn criticism from the Broad Ripple Village Association. In addition, city planning officials repeatedly have denied key zoning variances, saying the three-story structure is out of scale with surrounding one-story properties. The Metropolitan Development Commission is set to review the plans again on Wednesday. Miller vows to keep going no matter the decision. "I believe this is the next step in Broad Ripple and, like anything, if you believe in something, you're going to keep trying."   | | | |
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