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 DJIA 10,674.6 +191.7 / S&P 500 1,140.7 +26.4 / NASDAQ 2,030.5 +53.8
 |  |  Tonight: Mostly clear and cool. Low 49 Tomorrow: Mostly sunny. High 70
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|  Friday, October 3, 2008 |
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Lin TV, Bright House still at odds
Officials for Rhode Island-based Lin TV Corp., the parent company of WISH-TV Channel 8, and Bright House Networks were still huddled together at 11 a.m. today trying to iron out an agreement that would put the local channel back on the cable dial. Officials for Bright House-which has 125,000 central Indiana subscribers-have refused to pay what Lin requested to retransmit the signals of its channels, which also includes WNDY-TV Channel 23 and WIIH-TV Channel 17. The channels were pulled at Lin's request shortly after midnight. 
Finish Line CEO, co-founder to retire
The co-founder of The Finish Line Inc. plans to step down as CEO in December, the locally based athletic apparel retailer said this morning. Alan H. Cohen, 61, will retire on Dec. 1, after 32 years at the company. He'll remain as the chairman of the board. Glenn S. Lyon, Finish Line's president, will assume the role of CEO.
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Lilly cancer drug deal worth up to $520M
Indianapolis-based Eli Lilly and Co. will pay privately held Deciphera Pharmaceuticals LLC of Lawrence, Kan., as much as $520 million to develop and win regulatory approval for four types of cancer drugs, Bloomberg News reported. The companies will collaborate to develop cancer drugs using a Deciphera discovery that seeks to inhibit an enzyme linked to cancer aggressiveness, the companies announced today.
September job cuts hit five-year high
Employers slashed payrolls by 159,000 in September, the most in more than five years, a worrisome sign for the economy. The Labor Department's fresh snapshot, released today, showed that the nation's unemployment rate held steady at 6.1 percent. It marked the ninth straight month that the economy has lost jobs.
House plans second vote on bailout
After a week of tumult on Wall Street and Washington, the House moved toward a final vote today on a $700 billion bailout of the financial industry, an unprecedented government intervention designed to steady a falling economy. Congressional leaders expressed confidence they would have the votes to send the measure to President Bush for his signature by day's end, four days after an earlier version was rejected. The stock market opened sharply higher today on anticipation that the bill would pass
Purdue scores high among exec MBA programs
Purdue University's executive MBA program, which is tailored for professionals returning for an advanced degree, placed 21st in the nation in The Wall Street Journal's first such ranking. Purdue's Krannert School was the only program in the state to make the list of the top 25 universities. Northwestern's Kellogg School of Management placed No. 1, followed by the Wharton School at the University of Pennsylvania.
Bendix to expand, create 46 jobs in 3 years
Bendix Commercial Vehicle Systems will create 46 jobs in the next three years by expanding its plant in Huntington. The $8.3 million expansion is expected to be completed by 2011 at the northeastern Indiana plant, which employs 400. Bendix, headquartered in Elyria, Ohio, makes safety equipment, air brake charging systems and other equipment for commercial vehicles. It is a subsidiary of German brake system manufacturer Knorr-Bremse Group. The state offered Bendix nearly $500,000 in incentives based on its job creation plans.
McCain campaign shifts assets to Indiana
Republican presidential candidate John McCain conceded battleground state Michigan to Democrat Barack Obama yesterday, the Associated Press reported. His campaign signaled that it would counter Obama's efforts in Indiana, a state that hasn't voted for a Democrat for president since 1964. In Indiana, surveys show a competitive race after Obama spent months pouring money into the state and Republicans resisted countering. Now the Republican National Committee is running TV ads to fight for the state's 11 electoral votes.
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Citigroup balks at new Wachovia deal
Citigroup Inc. demanded that Wells Fargo & Co. and Wachovia Corp. terminate a $15.1 billion takeover agreement announced today, saying it breached an exclusive deal the New York-based companies reached earlier this week, Bloomberg News reported. San Francisco-based Wells Fargo said it would buy Wachovia in an all-stock transaction. Citigroup announced a $2.16 billion offer for parts of the company four days ago.
Work caused your injury? Prove it
The Indiana Court of Appeals ruled this week that an amendment passed by the Indiana General Assembly in 2006 puts the onus on employees to prove workplace injuries were caused by work conditions and not their existing medical conditions. The unanimous decision affirmed the intent of the Legislature to shift the burden of proof to workers. Prior to the amendment, the Indiana Supreme Court had ruled that in cases when it wasn't apparent whether a worker was injured due to job or personal conditions, businesses were obligated to show that injuries were not caused by the work environment.
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| August home sales plummet
Sales of houses in the Indianapolis area dropped nearly 18 percent in August compared with the same month a year earlier, according to the Metropolitan Indianapolis Board of Realtors. The 13-county region generated 2,350 sales compared to 2,852 in August of 2007 year and 3,204 in the same month in 2006. The median sale price of a home slid nearly 9 percent, to $144,439, in August from a year ago.
Denver sniffing at Tinsley
Nuggets think Pacers guard could fit in with Allen Iverson. The Score
From IBJ staff - Compiled by Jeff Newman
IRL driver Castroneves indicted for tax evasion
Two-time Indy 500 winner and "Dancing with the Stars" champ Helio Castroneves is expected in a Miami court today. He faces charges of conspiracy and tax evasion. The race car driver was indicted yesterday. Investigators say he owes back taxes on more than $5 million. Penske Racing officials tell Fox 59 they're standing behind their driver. Fox 59 will have more at 10 p.m.
Political activity mounts in Indiana
The political frenzy continues as candidates and celebrities visit the Hoosier state. Former national TV host Jane Pauley was back in Indiana as part of a series of stops in support of Barack Obama's health care plan. Libertarian Presidential Candidate Bob Barr is speaking at Notre Dame tomorrow. Barr proposes tax cuts and wants to end government debt. Test Range honors fallen Hoosier Marine
Test range dedication to honor Marine
Indiana Congressmen Baron Hill and Dan Burton will be on hand for the dedication of a military test range honoring Lance Cpl. Scott Zubowski of North Manchester. Zubowski died in 2005, making him the first Hoosier Marine killed in Iraq by an improvised explosive device, or IED. The Crane Division of the Naval Surface Warfare Center will house the range, located about 35 miles south of Bloomington.
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