Recession

Indianapolis banker sees progress, challenges at ailing Integra

December 4, 2010
Greg Andrews
Mike 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.
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Jobless claims fall sharply to 4-month low

November 10, 2010
Associated Press
The 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.
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September consumer spending weakens while incomes dip

November 1, 2010
Associated Press
Americans slowed their spending in September to the weakest pace in three months and their incomes fell for the first time in 14 months.
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U.S. economy grew anemically in third quarter

October 29, 2010
Associated Press
The 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.
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Orders for capital goods fall as business spending cools

October 27, 2010
Bloomberg News
The 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.
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Strategist: U.S. economy picking up pace, slowly

October 15, 2010
Scott Olson
augustine watdchvideoThe 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.
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New jobless claims drop for first time in 4 weeks

August 26, 2010
Associated Press
However, 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.
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Indiana, Indy stage small employment gains

August 20, 2010
Norm Heikens
Indiana's unemployment rate increased by a sliver, to 10.2 percent, in July despite increases in jobs in many industries.
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Counties brace for big tax losses next year

August 9, 2010
 IBJ Staff and Associated Press
Indiana 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.
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Daniels: Stimulus should focus on companies, not states

August 9, 2010
Bloomberg News
Indiana 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.
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Stocks retreat after disappointing jobs report

August 6, 2010
Associated Press
The disappointing jobs data magnifies worries that slowing growth could end up leading the country back into recession during the second half of the year.
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Consumer confidence index retreats further

July 27, 2010
Associated Press
Economists 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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Challenging job market trips up new attorneysRestricted Content

July 10, 2010
Michael W. Hoskins
It’s a tough time to be starting in the profession when established lawyers struggle to keep up their practices and client lists.
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Pearson ad agency closing after more than three decades

July 6, 2010
Scott Olson
CEO Ron Pearson attributed the decision to the difficult economic conditions. The firm was hit particularly hard in 2007, when it lost a $20 million HHGregg advertising account.
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Subcontractors come to Estridge's aid with $10M investment

June 26, 2010
Scott Olson
Estridge Cos.' subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an infusion that paves the way for them to proceed with a massive development in Westfield.
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National new-home sales plunged to record low in May

June 23, 2010
Bloomberg News
Purchases of new homes in the United States fell in May to a record low as a federal tax credit expired, showing the market remains dependent on government support.
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Economic rebound slowed last quarter

May 27, 2010
Associated Press
The economic recovery last quarter turned out to be slower than first thought, one of the reasons unemployment is likely to stay high this year.
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New Indiana law aims to promote safety of traditional loansRestricted Content

May 22, 2010
Scott Olson
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's housing market rebound from a foreclosure crisis instigated by risky loans.
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Indianapolis law firms raising rates again

May 15, 2010
Scott Olson
Recession's over. Time for law firms to get cracking on raising rates again. As was the case before the recession, the increases are outstripping inflation.
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Finish Master profit slides

May 7, 2010
 IBJ Staff
Recession aftermath continued taking a toll on sales of paint for auto repairs.
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State unveils Web tools aimed to curb unemployment abuse

April 14, 2010
Peter Schnitzler
The Indiana Department of Workforce Development last year identified $3.9 million in unemployment fraud.
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Trucking firms shift gears to weather long downturnRestricted Content

March 20, 2010
Chris O'Malley
Logistics companies have found the last few years an unparalleled challenge. If it wasn't higher fuel prices, it was softening business in key sectors, such as the automotive industry. Fewer goods to move created overcapacity and softened rates.
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Many banks cutting dividends to merely a pennyRestricted Content

March 13, 2010
Greg Andrews
Banks used to take pride in having long records of increasing dividends. Now, about all most can say is they still pay one.
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Banking reforms may bite weakest institutionsRestricted Content

March 13, 2010
Peter Schnitzler
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry is experiencing its deepest woes in decades.
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Minority networking event set for April 25Restricted Content

March 13, 2010
 IBJ Staff
"Staying Alive and Productive during Economic Hard Times" is the theme of the Indianapolis Professional Association's seventh annual networking luncheon. It will include a roundtable discussion of the economic state of local minority businesses and organizations.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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