Recession
Lockhart Automotive co-owner recovering from losing Saturn
December 10, 2011
Ann FinchLynn Kimmel, president of Lockhart Automotive Group, is helping her family business recover from losing three Saturn dealerships
and a Hummer dealership when General Motors Corp. folded both those lines.
MoreGrant-makers adapt to post-recession normal
December 3, 2011
Kathleen McLaughlinAfter the financial crisis of 2008, foundations in Indiana and across the country set up special relief funds for their communities.
Ongoing support for the one formed in Indianapolis is just one sign of how the poor economy is still influencing grant-makers’
decisions.
MoreCarmel free clinic drawing jobless professionals
November 5, 2011
Kathleen McLaughlinTrinity Free Clinic in Carmel began in 2000 to serve a growing Hispanic immigrant population. Since the latest recession,
so many people—including unemployed professionals—have found their way to the clinic that the portion of white
patients has grown from one-third in 2008 to 47 percent last year.
MoreThis year's metro area job losses deeper than in peer cities
August 27, 2011
J.K. WallAs the national economy sputters, the Indianapolis area is losing jobs faster than its peers, falling to levels not seen since
2002.
MoreVeteran banker Alley found Integra too sick to save
August 20, 2011
Francesca JaroszWith reluctance, Mike Alley, a veteran Indianapolis banker, joined the board of Evansville-based Integra Bank in April 2009.
A month later, he found himself CEO—the beginning of a 26-month odyssey that ended July 29 with banking regulators seizing
and shutting down the 160-year-old institution.
MoreFederal cuts in training funds hit at awkward time
August 13, 2011
Francesca JaroszFunding for the state’s work-force-development agencies to help Hoosiers develop job skills has fallen sharply, even
as unemployment remains high and the economy is still shaky.
MoreIndianapolis-based banks struggle to emerge from slump
August 6, 2011
Francesca JaroszIndiana regional banks and national institutions are faring better, a possible indication that Indianapolis' economy isn't
recovering as quickly as expected.
MoreU.S. jobless rate dips as economy adds 117,000 jobs
August 5, 2011
Associated PressHiring picked up slightly in July and the unemployment rate dipped to 9.1 percent, an optimistic sign after the worst day
on Wall Street in nearly three years.
MoreEconomy growing at slowest pace since recession
July 29, 2011
Associated PressThe economy expanded at a meager 1.3-percent annual rate in the spring after scarcely growing at all in the first three months
of the year, the Commerce Department said Friday. The combined growth for the first six months of the year was the weakest
since the recession ended two years ago.
MoreWealthy local entrepreneurs hew to conservatism
April 23, 2011
Norm HeikensFlashy displays of wealth seldom erupt in Indianapolis after an entrepreneur makes good, and they’re even more unusual
now that the recession sobered even the most successful among them.
MoreState unemployment rate dips to 9.1 percent
March 10, 2011
After topping out at 10.2 percent last summer, Indiana's jobless rate has been steadily declining.
MoreNot-for-profits hang out consulting shingle
December 25, 2010
Kathleen McLaughlinTight budgets are prompting some of the state’s largest not-for-profit organizations to launch new businesses to shore
up the bottom line. The Indianapolis Museum of Art, for example, has a contract to manage the airport's art collection.
MoreState unemployment rate dips to 9.8 percent
December 17, 2010
IBJ StaffIndiana's jobless rate dropped for the second month in a row and has decreased four-tenths of a point since hitting 10.2 percent
this summer.
MoreIndianapolis banker sees progress, challenges at ailing Integra
December 4, 2010
Greg AndrewsMike Alley, perhaps more than any other banker in the state, is experiencing the pain the economic crisis has wrought on the
nation’s financial institutions.
MoreJobless claims fall sharply to 4-month low
November 10, 2010
Associated PressThe U.S. Labor Department said Wednesday that initial claims for jobless aid dropped by 24,000, to a seasonally adjusted 435,000.
Many Wall Street economists expected a smaller decrease.
MoreSeptember consumer spending weakens while incomes dip
November 1, 2010
Associated PressAmericans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time
in 14 months.
MoreU.S. economy grew anemically in third quarter
October 29, 2010
Associated PressThe government reported Friday morning that the economy expanded at a 2-percent annual rate in the July-September quarter.
It marked a slight improvement from the feeble 1.7-percent growth in the April-June quarter.
MoreOrders for capital goods fall as business spending cools
October 27, 2010
Bloomberg NewsThe report raises the risk that business investment, which had been contributing to a rebound from the worst recession in
generations, will decelerate in coming months, underscoring the Federal Reserve's concern that growth is too slow.
MoreStrategist: U.S. economy picking up pace, slowly
October 15, 2010
Scott Olson
The economy is picking up its pace but not quickly enough to satisfy
the public, Fifth Third Bank strategist John Augustine said Friday. It may not return to pre-recession levels until 2017.
New jobless claims drop for first time in 4 weeks
August 26, 2010
Associated PressHowever, about 10.1 million people were receiving unemployment checks in the week ended Aug. 7, the latest data available.
That's up about 260,000 from the previous week.
MoreIndiana, Indy stage small employment gains
August 20, 2010
Norm HeikensIndiana's unemployment rate increased by a sliver, to 10.2 percent, in July despite increases in jobs in many industries.
MoreCounties brace for big tax losses next year
August 9, 2010
IBJ Staff and Associated PressIndiana counties will receive $1.3 billion in income tax revenue in 2011, nearly 16 percent less than they did this year.
Marion and Hamilton counties will suffer major reductions in distributions.
MoreDaniels: Stimulus should focus on companies, not states
August 9, 2010
Bloomberg NewsIndiana Gov. Mitch Daniels said he opposes more stimulus such as aid to states to keep teachers hired and to expand credit
to small business, while favoring incentives to revive private hiring and investment.
MoreStocks retreat after disappointing jobs report
August 6, 2010
Associated PressThe disappointing jobs data magnifies worries that slowing growth could end up leading the country back into recession during
the second half of the year.
MoreConsumer confidence index retreats further
July 27, 2010
Associated PressEconomists watch the Consumer Confidence index closely because consumer spending accounts for about 70 percent of U.S. economic
activity and is critical to a strong recovery.
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Maybe they should have sold the naming rights to the new airport terminal, instead of giving it away for nothing to honor some obscure politician.
Rolls Royce Terminal sounds nice, and $10 million a year licensing fee sounds pretty good right now.
The old airport terminal was a complete dump that was a patchwork of "fixes" over the decades with a confusing and frustrating maze of roads leading to it.
The new airport terminal is well worth it.
It is the first and last impression anyone coming from any real distance remembers of our community.
It is an essential service that is used everyday, unlike the $750 million football stadium.
Nothing like putting on the Ritz.
Flipsides Pretzel Crackers
The new airport was a waste of money and it was a "legacy" project for Bart Peterson. BAA, the former airport operator, did a complete study showing that if the airport spent $275 million on the old terminal, the airport would be better positioned for the future, financially. Bart Peterson and Melina Kennedy felt differently and with the help of Patrick Dooley, then airport director, they set out in spending the money to build the new terminal. No taxpayer money is used to operate the airport, but we all pay for the new and old airport facilities through higher fees.