General Motors employees, suppliers and regional government officials will gather this afternoon in Indianapolis and Fort Wayne to show their support for federal aid to the U.S. auto industry. GM Indianapolis Stamping Plant Manager Jeff Haynes says the rallies will help explain what might be discussed at the hearings scheduled today and tomorrow on Capitol Hill. Haynes says there's so much misinformation about the auto industry that he hopes the gatherings will clear the air. Haynes adds he hopes the events will help convince Senator Richard Lugar to support the bailout package. Senator Evan Bayh has already endorsed a bridge loan to help stabilize the industry.

Lilly Endowment to fund new IU institute

Lilly Endowment Inc. is giving Indiana University $15 million over five years to establish the Pervasive Technology Institute. It will develop advanced information technology and informatics innovations. IU President Michael McRobbie made the announcement during a groundbreaking for the university's Bloomington Incubator. The Pervasive Technology Institute will be one of the incubator's first tenants. It will also have a facility at Indiana University - Purdue University Indianapolis.

Lawmakers prepare for budget session

It is Organization Day at the Statehouse as the newly-elected General Assembly convenes for the first time. The tough work on legislative items such as a new state budget will not begin until January, but some formalities are being dealt with today. Democrat Pat Bauer is being installed for another term as house speaker and Republican David Long as senate president pro tem.

Real estate trends Indiana findings to be released

The Indiana District Council of the Urban Land Institute will present findings this afternoon from its first Real Estate Trends Indiana report. It rates Indianapolis' investment and development prospects as "modestly poor" to "poor." However, the report finds many national trends, including significant declines in housing values, are not likely to impact Central Indiana as severely as other areas.

Indiana firm invests in Web phone company

Carmel-based Spring Mill Venture Partners has invested in an Illinois company that provides Web-based phone services for small and mid-sized businesses. The investment by the Indiana venture capital firm is part of a second round of funding for Ifbyphone totaling $4.6 million. Spring Mill Cofounder and Managing Partner Ken Green says the company allows smaller businesses access to services that had been available only to larger competitors.