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 DJIA 9,871.55 -453.83 / S&P 500 1,044.6.23 -54.6 / NASDAQ 1,841.33 -106.06
 |  |  Tonight: Partly cloudy. Low 57. Tomorrow: Sunshine. High 80.
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|  Monday, October 6, 2008 |
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Investors uneasy about $6.5B Lilly buy
Wall Street didn't embrace Eli Lilly and Co.'s plan to acquire biotech firm ImClone Systems Inc., a maker of cancer drugs, for $6.5 billion. Lilly shares tumbled 5 percent today to less than $40 per share-a new 52-week low. One analyst called Lilly's deal "an act of desperation" as the company struggles to find new drugs to replace several that will face competition from cheaper, generic copies beginning in 2011. 
Hoosier stocks, global markets tumble
Stocks in Indiana and across the globe tumbled again today, as fears grew that the financial crisis will cascade through economies globally despite bailout efforts by the U.S. and other governments. The Dow Jones industrials skidded nearly 500 points and fell below 10,000 for the first time in four years. In Indiana, locally based Calumet Specialty Products Partners tumbled 27 percent, while Columbus-based Irwin Financial Corp. fell 21 percent.
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Logistics firm adding 120 in Plainfield
OHL, a Tennessee-based provider of logistics services, announced today that it will expand its Plainfield operations, investing $11.3 million and creating 120 jobs. The expansion will boost employment at OHL's 3.2-million-square-foot Plainfield campus to 520. OHL provides logistics services for a variety of firms. The Indiana Economic Development Corp. said the state is providing a $200,000 grant to help train OHL workers in such areas as operating forklifts and using computer software.
Franklin alloy firm selling for $10.5M
Nonferrous Products Inc., a Franklin company specializing in metalworking and specialty alloys, has agreed to be acquired by International Beryllium Corp. of Vancouver, British Columbia, for $10.5 million. Nonferrous, which employs 35 at its 12-acre Franklin campus, reported $11.7 million in 2007 revenue.
Indiana storm damage stings insurer
Damage in Indiana caused by the remnants of Hurricane Ike is causing steep losses for an Ohio insurer with a big presence here. State Auto Financial Corp., a property-and-casualty insurer based in Columbus, Ohio, said it has customers in Texas, where Ike made landfall Sept. 13, but suffered its worst losses in Indiana, Ohio and Kentucky. State Auto estimates it will report total pretax catastrophe losses in the third quarter of $55 million to $60 million.
Janitor switchover sparks rally at tower
Janitors and clergy staged a rally this morning over a decision by the owner of the 101 West Ohio office tower downtown to hire a janitorial contractor that didn't sign on to a citywide janitors' contract negotiated last spring. The Service Employees International Union said building owner Philadelphia-based Amerimar Enterprises replaced New York-based ABM Industries Inc. with locally based Executive Management Services. ABM had signed on to the pact-which stipulates higher pay and benefits-while EMS did not.
Wanted: big-time college football coach
A winning program at IU would bring in a windfall of cash. The Score You-review-it Monday
Your thoughts on weekend performances? Lou Harry's A&E
From IBJ staff - Compiled by Greg Andrews
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Wabash student found dead in fraternity house
A Wabash College freshman was found dead yesterday morning in his Delta Tau Delta fraternity house. School officials have identified the student as Johnny D. Smith, 18, of Arizona. The Montgomery County coroner says an autopsy will take place tomorrow or Wednesday. Results from the toxicology report could take a month. Fox 59 will have more information at 10 p.m.
Man dies in overnight shooting on west side
An Indianapolis man is dead after an overnight shooting on the west side. Police responded about 2 a.m. to a report of shots fired near 38th Street and High School Road. Officers found the victim's vehicle in a creek at the bottom of an embankment. The 23-year-old black male found inside the vehicle was pronounced dead at the scene. A short time later, officers stopped two vehicles with bullet holes near the Indiana State Fairgrounds. They found several guns in the car and detained five people. Police don't know if those people were involved in the shooting, but think they were at the scene.
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| Voter-registration deadline arrives, voting starts
Today is the last day for Hoosiers to register to vote in the November election. All voter registration forms must be postmarked by today. Marion County residents also can register in person at the City-County Building until 5 p.m. Today is the first day for early voting. Marion County residents can cost their ballots at City-County Building from now until Nov. 4.
LOCKDOWN
Nervous financial institutions are cutting off some Indianapolis borrowers.
Rooney's death spawns uncertainty
Executive's not-for-profit, struggling insurance company left without clear-cut successors.
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