The director of Ball State University's Bureau of Business Research believes more production slowdowns at General Motors Corp. (NYSE: GM) are likely as the company deals with several issues, including a severe drop in its stock price. Shares of GM hit their lowest point in nearly six decades this week. Ball State's Mike Hicks believes the company's four Indiana plants likely will not be shut down if GM carries out more restructuring, but he says there could be some "temporary idling." The Detroit News is reporting GM could announce more production cuts and plant closures this month.

Major hospital starts construction on expansion project

Construction is underway on a new orthopaedics center at Major Hospital in Shelby County. The $7.2 million dollar reNovo Center should be completed by mid-2009. Major Hospital Chief Executive Officer Jack Horner says the new building will bring together all of the medical center's established othopaedic services from surgery to rehabilitation.

Future of Indiana plant uncertain

A $530 million joint venture in Tipton is in jeopardy. Chrysler LLC says it has filed a lawsuit against Getrag Transmission Manufacturing LLC claiming the German company failed to secure financing for the project. Chrysler believes construction will continue today and Friday, but may not resume next week. An official at the Getrag facility in Tipton says tells Inside INdiana Business the company has no comment.

Greensburg Honda begins mass production of Civic

Honda Manufacturing of Indiana LLC has reached a milestone. The plant in Greensburg has started mass production of the 4-cylinder Honda Civic Sedan. The $550 million plant ultimately will produce 200,000 vehicles annually and employ 2,000 workers. For several months, nearly 900 Indiana employees have been conducting trial production. Currently, the Greensburg plant is operating on one shift with plans to add a second shift in 2009.

Daniels: Announcements help buffer Indiana from national crisis

Governor Mitch Daniels say economic development deals announced today continue a diversification of Indiana's economy and serve as a cushion from the turmoil in the nation's financial and credit markets. This morning, health care equipment manager TriMedx said it will expand its national headquarters in Indianapolis, creating more than 100 jobs over the next five years. This afternoon, Italy's Brevini Co. will confirm plans to re-locate its U.S. headquarters from Illinois to Delaware County. The company will also build its first U.S. manufacturing facility there, creating approximately 455 jobs. Brevini will manufacture gears and components for use in the wind power sector.

Tight credit market shelves plans for bio plant

Fishers-based BioEnergy Development Co. LLC is dropping immediate plans to build an ethanol plant in Starke County. Company President Rob Swain says the decision stems from the tight credit markets. Swain says he is still interested in placing a facility in the area if credit becomes more readily available. He adds the situation is also impacting efforts to acquire another plant. Despite those issues, Swain says his company is still financially healthy.

Lilly: ImClone acquisition creates "oncology powerhouse"

Eli Lilly and Co. (NYSE: LLY) President and Chief Executive Officer John Lechleiter says his company's acquisition of New York-based ImClone Systems, Inc. is a perfect strategic fit that will giveLilly a leadership position in the rapidly growing cancer field. In a late-morning interview with Inside INdiana Business, Lechleiter callsthe deal "spot on our strategy to expand in oncology," adding that it also continues Lilly's push into biotechnology. Lechleiter saysin addition to getting ImClone'sbillion dollar cancer drug Erbitux,itis also gaining an attractive pipeline of compounds.Lilly stock is down more than six percent in midday trading, while shares of ImClone are up nearly three percent.

Melangton to lead Super Bowl host committee

The Senior Vice President of the Indiana Sports Corporation has been named president and chief executive officer of the 2012 Indianapolis Super Bowl Host Committee. Allison Melangton has played a key role in organizing dozens of major championship events including NCAA Final Fours, Big Ten Championships and Olympic Trials. She is also an Emmy-winning producer of NBC's Summer Olympics coverage.

Indiana logistics provider to hire 120

One of the largest third-party logistics providers in the world, OHL, plans to expand its Plainfield operations and hire 120 employees. The supply chain solutions provider will invest more than $11.3 million at its 3.2 million square-foot campus. OHL will use a grant from the state's Skills Enhancement Fund to provide advanced training to its 400-person workforce.