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 |  |  Tonight: Clear, comfortable. Low 52. Tomorrow: Sunny and seasonable. High 78.
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|  Tuesday, September 16, 2008 |
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Veteran banker calls for 'sanity'
Andy Paine, one of Indianapolis' top bankers until he retired a decade ago, traces the financial train wreck unfolding across the country to a perception hatched in the 1990s that home ownership was a right, not a privilege. The financial system won't recover until that notion is reversed, Paine says. "We're going to have to get back to some sanity and recognize that housing is not a right," Paine said. 
Lehman filing dwarfs Conseco bankruptcy
Lehman Brothers Holdings Inc.'s Chapter 11 filing is by far the largest corporate bankruptcy case in U.S. history, measured by total assets before the filing. Lehman Brothers filed for Chapter 11 bankruptcy protection yesterday after falling under the weight of $60 billion in soured real estate holdings. Its filing listed $639 billion in assets as of May 31. By contrast, the 2002 bankruptcy of Carmel-based Conseco Inc. listed $61.4 billion in assets. Click here for a list of the largest bankruptcies in U.S. history. |  | | | |
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New Dixie Chopper chief plans growth spurt
Dixie Chopper, a Coatesville company that makes what it claims are the fastest lawnmowers in the world, has hired a president who plans to triple production within three years. Gary A. Morgan, who stepped into the position yesterday, said he intends to boost the company's share of the "zero-turn" mower market to 25 percent from the current 8 to 10 percent by adding to the company's distribution network. If the company hits the target, it would need to add about 80 workers to the 160 now employed at its headquarters and manufacturing plant west of Indianapolis.
Hoosier Park Casino hurting charity bingo
Charity gambling at the AMVETs post in Anderson took a hit when the new casino at Hoosier Park horse track opened in June, according to The Herald Bulletin of Anderson. The number of players dwindled to between 130 and 180 a night from about 250 a night prior to the casino opening. The post relies on bingo and pull-tab gambling to fund its operations and charity work.
Mead Johnson IPO moves forward
Bristol-Myers Squibb Co. announced yesterday that it plans to go ahead with plans announced in April to put its Mead Johnson Nutrition Co. through an initial public offering. The process will be finished by July next year and will result in as much as 20 percent of Mead Johnson being sold to outside shareholders, Bristol-Myers said. Mead Johnson, headquartered in Evansville, makes Enfamil and other baby formula.
American Commercial Lines lifts profit forecast
American Commercial Lines Inc. today predicted third-quarter earnings well above Wall Street estimates, and said it believes it will have insurance coverage and other ways to pay the cost of a July 23 oil spill. The Jeffersonville-based barge builder and shipper said it expects to earn 32 cents to 36 cents a share. Analysts surveyed by Thomson Reuters were expecting 26 cents a share.
The incredible shrinking diva
Brit papers say opera audiences demand slimmer talent. Lou Harry's A&E
City, BW3 reach deal
New design eliminates the yellow highlights. Property Lines | | | |
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Wall Street woes crash Colts' value
Stock market swoon deflates NFL teams' price tags. The Score
From IBJ staff - Compiled by Norm Heikens
Daniels, challengers set for first debate
Indiana's gubernatorial candidates square off tonight in the first of three debates. Republican Gov. Mitch Daniels, Democrat Jill Long Thompson and Libertarian Andy Horning are scheduled to participate. The debate begins at 8 p.m. in Merrillville's Star Plaza Theatre. Television host Dan Lowrey will moderate. Fox 59 News will have more at 10 p.m. |  | | | |
| Daniels tours storm-damaged areas
This morning, Gov. Daniels visited several areas damaged by Sunday's storms. The governor's tour included Chesterton and Munster, where people are still being evacuated. The storms have been blamed for seven deaths, while thousands of people remain without power. Duke Energy reports more than 300,000 customers lost power Sunday, making it one of the largest outages ever in the state.
Five accused in Portland murder, robbery
Five people are accused of murder after a man found his son's body in a shallow grave in the northeastern Indiana town of Portland. Investigators believe three men and two women lured Shawn Buckner, 28, Dunkirk, to an apartment with promises of sex, and then killed him for money and prescription drugs. Buckner's body was found Wednesday, four days after he went missing. Thomas A. Smith, 19; Michael P. Heffern, 30; Roderick Berry, 20; Addison Pijnappels, 19; and Tina Whiting, 36, are being held without bond in the Jay County Jail. Prosecutors say they will likely not seek the death penalty.
Timber Ridge residents move out
Today is the deadline for 88 families to move out of a northeast-side apartment complex. The Health Department ordered Timber Ridge Apartments, 4005 Meadows Drive, to close because of illegal drug dealing and more than 300 code violations, including asbestos, water damage, raw sewage and cockroaches. The Indiana Family and Social Services Administration and the Indiana Housing Authority have helped many residents find a new place to live. They also have made moving trucks available to help people haul out their belongings.
IT firm rakes in VC cash
Interactions Corp. in Carmel has raised $35 million from investors in just four years. 
Airport hoping to double ad revenue
Indianapolis International Airport officials hope to double advertising revenue when the new terminal opens in November.
Lilly Endowment crawls toward diversification
Lilly Endowment is taking its time scaling back its holdings in Eli Lilly and Co. because Lilly stock is trading near an 11-year low. | | | |
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