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 DJIA 11,152.2 -269.8 / S&P 500 1,223.6 -28.1 / NASDAQ 2,227.9 -33.4
 |  |  Tonight: Partly cloudy, chilly. Low: 50. Tomorrow: AM clouds, sunshine building. High 70.
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|  Monday, September 15, 2008 |
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Wall Street turmoil will hit local credit, economy
Local financial experts anticipate bank credit will tighten, the U.S. economy will slow down and investors will shoulder tough losses in the wake of this weekend's news that several of Wall Street's largest institutions are insolvent. "This is going to be an extremely uneasy time for people nearing retirement," said Ball State University economist Michael Hicks. "And if you're not nearing retirement, I wouldn't even open your quarterly statements for a year." 
WISH-TV parent, cable carrier at loggerheads
Despite almost three months of attempted negotiations, officials for Lin TV Corp. and Bright House Networks have not been able to agree to extend their current deal to retransmit Lin's three local channels on the cable system. Lin officials say Bright House has not responded to their proposals. However, Buz Nesbit, president of Florida-based Bright House Indiana, said his company has participated in negotiations.
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Mansion of former Conseco exec to be featured
Another mansion once owned by a Conseco Inc. executive will serve as next year's Decorators' Show House. Donald and Patricia Gongaware's French-style estate in Westfield will get an interior makeover from designers as part of the annual fund raiser staged by St. Margaret's Hospital Guild. In 2006, the guild used the Carmel mansion formerly owned by Conseco co-founder Stephen Hilbert.
Motorcycle race brings unusual fan mix to Indy
This was a whole new look to Indianapolis Motor Speedway yesterday. American bikers mingled with Europeans at the MotoGP race, turning the famed infield into an eclectic mix that was part NASCAR, part Formula One. "There's that feel of a hip, cool crowd and it's a little different than just pulling a cooler behind you," IMS president Joie Chitwood said. It also was different from Formula One's U.S. Grand Prix, the only other major race held on Indy's 2.6-mile road course.
Browning launches Mount Comfort warehouses
Browning Investments Inc. plans to build three warehouses in Hancock County near I-70 and Mount Comfort Road, the Indianapolis-based developer said today. The facilities, which are being built on a speculative basis, will total at least 1.3 million square feet and sit on 153 acres at Mount Comfort Road and County Road 300 North. Joining Browning for the Axcess70 project is New York real estate adviser Real Estate Capital Partners.
Fund snaps up farmland in big auction
An investor pool formed to acquire farmland bought 1,108 of 1,222 acres auctioned near Frankfort on Thursday, according to Schrader Real Estate and Auction Co. Inc., the Columbia City firm that handled the sale. The average price for all of the land came to $5,171 per acre. That was slightly more than the $5,003 average of prime farmland found in Purdue University's latest survey.
Bloomington shines as Midwest college town
Few Midwestern university cities have prospered as much as Bloomington in the past couple of decades, a recent Federal Reserve Bank of Chicago study shows. When it comes to growth in per-capital personal income, Bloomington has been surpassed only by Minneapolis, home to the University of Minnesota, and Ames, Iowa, where Iowa State University is located. And Bloomington, the base for Indiana University's flagship campus, placed sixth in population growth.
Indiana Business Bank reports loss
Several major expenses caused Indiana Business Bancorp to report a $163,465 loss in the second quarter, the Indianapolis-based parent of Indiana Business Bank reported Friday. The bank generated a $12,347 profit in the same period last year. The addition of four employees contributed to the loss, as did a higher provision for loan losses as the bank's portfolio grew. Another factor: writing down a repossessed commercial real estate property.
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Senate Democrats roll out lofty, pricey agenda
Talk about a legislative wish list. The agenda Indiana Senate Democrats released last week included full-day kindergarten for every child, free textbooks for all students and universal access to health care. Then there were proposals to ensure that all Indiana residents can attend a state college or university, to offer new tax credits and incentives and to add police at the state and local levels. They're among 82 initiatives in the plan, which Senate Democrats - outnumbered by Republicans 33-17 - said they would campaign on and pledged to pursue in the legislative session come January.
You-review-it Monday
Your thoughts on the weekend shows. Lou Harry's A&E
Is Bloomington the best Hoosier city?
Bloomington racks up more accolades. NewsTalk
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| | Race's financial viability becomes clear
MotoGP's attendance disclosure shows profitability of event. The Score
From IBJ staff - Compiled by Norm Heikens
Severe weather kills 6
Strong winds, heavy rain and flooding are blamed for the deaths of six Hoosiers, including two men who drowned trying to save a 10-year-old boy in Chesterton. Mark Thanos, 48, and his 74-year-old father, John Thanos, were trying to help the boy out of a rain-swollen ditch when he was sucked into a culvert, according to the Department of Natural Resources. The boy came out the other side, but the two men did not make it out. Meanwhile, the Department of Homeland Security says two people were killed because of storms in Crawford and Perry counties, while falling trees have been blamed for deaths in Clark and Ohio counties. Yesterday's severe weather also caused widespread power outages throughout the state. Fox 59 will have more at 10 p.m.
Deputy injured in early morning accident
A Marion County sheriff's deputy is in the hospital after an accident at 73rd Street and Spring Mill Road at around 6:19 a.m. Officers suspect the stop light was out. Four people were hurt in the resulting collision. The condition of the victims has not been release. The deputy was not on duty.
Residents forced from their homes
Residents of run-down apartment complex on the east side have until tomorrow to find a new place to stay. That's when electricity and water will be shut down at Timber Ridge Apartments, 4005 Meadows Drive. More than 300 violations left Marion County health officials with little choice but to order all 88 families to vacate the property. Those violations included asbestos, water damage, raw sewage, cock-roaches and crime.
ISTEP testing begins today
ISTEP testing begins this week for thousands of children across Indiana and concludes Sept. 26. Students grades 3 to 8 will take the test again in March as the state moves its testing period to the spring. ISTEP is used as an indicator on whether a school is making adequate yearly progress.
Reshaping the Circle
Civic leaders envision transforming Monument Circle into a public gathering place that might ban cars.
City reviews TIF districts
The administration of Mayor Greg Ballard is quietly reviewing Marion County's tax increment financing districts with an eye toward reorganization.
Safeco weighs downtown exit
Insurance giant Safeco Corp. is expected to vacate or scale back its downtown operation next year, putting 700 jobs at stake.
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