Columbus next summer will play host to the 2008 United States Specialty Sports Association Youth Baseball World Series for the 9 and younger, 11 and younger and 13 and under younger. The event will be held in July and is expected to bring a direct economic impact of more than $1 million.

International Truck reaches new contract

International Truck and Engine Corp. has reached a tentative three-year labor contract agreement with the United Auto Workers. UAW members are expected to vote on the proposal this weekend. The UAW represents approximately 3,700 employees at nine International facilities, including those in Indianapolis and Fort Wayne.

Sallie Mae updates buyout proposal

SLM Corporation, also known as Sallie Mae, said it is considering legal action against a group that had proposed a buyout of the company but has changed its mind. The buyer's group was led by J.C. Flowers, Bank of America and JP Morgan Chase. Sallie Mae also says it has indications of interest from 10 financial institutions for new secured warehouse funding significantly in excess of $30 billion.

Babcock & Brown acquires gas provider

International investment and specialized fund and asset management group Babcock & Brown has announced it has acquired 80 percent of holdings in MidCon LLC. MidCon owns the Natural Gas Pipeline Company of America, which supplies gas into northern Indiana. The acquisition is expected to be completed in early 2008.

Steel Technologies announces merger

Kentucky-based Steel Technologies Inc., which has locations in Jeffersonville and Portage, will acquire Mi-Tech Steel Inc., which has a location in Greensburg. Mi-Tech Steel is a joint venture with Mitsui & Co., which will turn over its interest to Steel Technologies. The merger should be completed by the first quarter of 2008.

Vectren announces purchase of wind energy

Vectren Energy Delivery of Indiana is adding 30 megawatts of wind energy to its generation portfolio. The addition is expected to power around 8,000 homes annually. The energy will be purchased from a wind farm under construction in Benton County.

IPS Launches New Technology Program

Indianapolis Public Schools has announced its new Truck and Diesel Technology Program. The program is the second of its kind in the nation. Students who complete the program and successfully pass certification requirements will be ready to enter the work force.

More business news at www.InsideINdianaBusiness.com. Story ideas at newsletter@growindiana.net