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Lilly misses analyst estimates, lowers profit forecast

Third-quarter earnings at Eli Lilly and Co. fell short of analysts’ expectations, and the Indianapolis-based drugmaker reduced its profit forecast by 4 cents per share for the remainder of the year.

Judge: Anderson can lay off firefighters

Circuit Judge Dennis Carroll said in a 27-page ruling Tuesday said that Indiana law gives municipalities the right to lay off employees because of economic conditions.

Stocks hammered by weak earnings reports

Stocks sank sharply Tuesday morning, driving major indexes to their lowest point since early September, after big-name companies reported weak quarterly earnings and lowered their expectations for the rest of the year.

Girl recovering after shooting in Carmel

A 17-year-old girl who was shot in her Carmel home Monday during an attempted robbery was in good condition Tuesday morning at St. Vincent Hospital. The Carmel High School student was at home in the Clay Center subdivision on fall break when a man broke into the house about noon. Police said the man, who was wearing a sweatshirt, blue jeans and a black ski mask, shot the girl in the leg following a brief encounter and ran away.

Greenwood business saved from fire

Firefighters were able to extinguish a fire outside a Greenwood business Tuesday morning before it caused major damage. The blaze occurred about 1:30 a.m. near the loading dock of Lighting Solutions in an industrial park near East Stop 18 Road and U.S. 31 South. A pallet stacked with 5-gallon buckets containing batteries somehow caught fire and slightly damaged the exterior of the building.

Holiday World plans $6.5 million expansion, new ride

Officials at Holiday World & Splashin' Safari in southern Indiana announced plans Tuesday for a major new water-slide attraction as part of $6.5 million in projects planned ahead of the park's 2013 season.

Man found dead by train tracks

A dead man found early Tuesday morning on the south side of Indianapolis may have been killed by a train. The body was discovered about 100 yards north of East Raymond Street, near Madison Avenue, along railroad tracks operated by CSX Transportation. A CSX employee found the body about 4 a.m. The last time a train passed on the tracks was about 11:30 Monday night. An autopsy was scheduled to determine the cause of death.

Lilly CEO calls for life sciences research institute

Eli Lilly CEO John Lechleiter on Tuesday called for creation of a “world-class” research institute in Indianapolis to bring together scientists from universities and corporations to develop new medical therapies and companies.

Local television stations reap election windfalls

The hotly contested race for U.S. Senate between Joe Donnelly and Richard Mourdock, in addition to the governor’s contest, has netted four local television stations millions in advertising dollars, according to FCC filings.

Fun with renderings: $6.6M Illinois Place Apartments

Development partners The Whitsett Group and The Children's Museum of Indianapolis held a ceremonial groundbreaking this morning for a planned $6.6 million redevelopment of part of the former home of Winona Hospital.

Report: Apartment gains could cool in 2013

Indianapolis-area apartment occupancy and rent rates should continue to grow in 2013, albeit at a slower pace, as developers finish more units and the single-family market picks up steam, the locally based apartment brokerage Tikijian Associates predicts in a new report.

Sportswriter Moran to lead IU journalism center

The National Sports Journalism Center was launched in Indianapolis in 2009 by former Indianapolis Star editor Tim Franklin. It offers the nation's first master's degree in sports journalism.