Recession

Job searches dragging on a year later

March 6, 2010
J.K. Wall
Out of six professionals IBJ profiled a year ago, three have found jobs, although all have accepted lower pay than they were getting before. One could not be reached, but she still lists herself as looking for work on LinkedIn.com. Two tried to start their own businesses, with one giving up and one, Bruce Flanagan, still trying.
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Intellectual property practices in law firms recovering from recessionRestricted Content

February 27, 2010
Norm Heikens
Practices are beginning to thaw along with other areas of the economy.
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Weather blamed for unexpected rise in jobless claims

February 25, 2010
Associated Press
New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of claims caused by snowstorms the previous week.
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Clarian to resume construction at Riley Hospital for Children

January 16, 2010
 IBJ Staff
It’s the latest exhalation by a local hospital after massive investment losses and a scary economy forced them to tighten their belts a year ago.
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RYAN: Recession could prompt tax reform

January 2, 2010
Earl Ryan
A new study by the National Conference of State Legislatures shows that states have narrowed a collective budget gap by $145.9 billion in the fiscal year that began July 1, only to be faced with another $28.2 billion gap for the remainder of the fiscal year. And fiscal 2011 and 2012 are equally bleak.
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Slump sets Hoosier job levels back 14 years

December 26, 2009
Norm Heikens
The 131,000 jobs lost in the 12 months ended in November amounted to a 7.2-percent decline and were nearly equivalent to the combined populations of Carmel and Fishers.
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Indiana banker meets with Obama, Geithner

December 23, 2009
Peter Schnitzler
Mark Schroeder, CEO of Jasper-based German American Bancorp, was one of just 12 community bankers who talked shop Tuesday with the president and Treasury secretary.
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Stout's Shoes still in step after 123 years

December 12, 2009
Brock Benefiel
After more than a century in business, Indianapolis-based Stout’s Footwear Co. isn’t just surviving. It also is proceeding with plans to open a store next year on the city’s north side.
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HICKS: Recession may help close job-skills gapRestricted Content

December 12, 2009
Mike Hicks
One of the most important effects of the recession â??lower employment â?? is likely to be stubbornly persistent.
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Some area manufacturers see blue sky after year dominated by recessionRestricted Content

December 5, 2009
Kathleen McLaughlin
The recession decimated Indiana’s auto-parts makers, but many other manufacturers in the state survived. After a year adrift in the recession, they see signs of land ahead.
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Fewer firms reimbursing workers for tuitionRestricted Content

November 21, 2009
Scott Olson
As corporations continue to dig out from the worst recession in decades, tuition-reimbursement programs are a common casualty. A survey estimates that 63 percent of companies will offer undergraduate educational assistance this year compared to 67 percent in 2005.
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State's jobless rate ticks up

November 20, 2009
Scott Olson
Indiana's unemployment rate inched up to 9.8 percent in October, reversing small declines recorded in the previous three months, the Indiana Department of Workforce Development said Friday morning.
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MARCUS: The economic exorcism was successful

November 7, 2009
Morton Marcus
The damage done by the recession is still with us, even if the recession itself has ended. But sufficient evidence is available to suggest that the demon recession has left the nation’s economic body.
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HICKS: Recession results in 'great deleveraging'Restricted Content

October 31, 2009
Mike Hicks
On virtually every meaningful measure, this recession stacks up as only the third or fourth worst post-World War II recession, but its effects are much more profound in a few areas. One area that will be most apparent is the changes the economy has wrought on consumer credit.
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Indiana insurance industry weathers hard times

October 24, 2009
J.K. Wall
Employment in Indiana's insurance industry has remained stable despite a poor economy.
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Survey: Manufacturers optimistic about economic recovery

October 13, 2009
Scott Olson
Indiana manufacturers, many of which have suffered major job losses, are optimistic the economy will rebound next year, according to an annual survey commissioned by Katz Sapper & Miller LLP.
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MARCUS: The recession will leave a residue

October 10, 2009
Morton Marcus
Wouldn’t it be refreshing if we focused on a different way of looking at the recession? What if we talked in real terms about how much we lost in work days or goods and services?
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IU: Indiana economy turned in March

October 7, 2009
Norm Heikens
The Indiana economy turned up in March, but the recovery has been slow and dogged. That's the picture painted by a new monthly index unveiled Wednesday by the Indiana Business Research Center within the Kelley School of Business at Indiana University.
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U.S. jobless rate reaches 9.8 percent in September

October 2, 2009
Associated Press
The unemployment rate rose to 9.8 percent in September, the highest since June 1983, as employers cut far more jobs than expected. The report is evidence that the worst recession since the 1930s is still inflicting widespread pain.
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MANN: Commercial real estate is next mortgage crisisRestricted Content

September 19, 2009
Brian Mann
The cresting wave of maturing commercial real estate debt is the second act in our nation's credit crisis.
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MARCUS: State's long-term job deficit tops 800,000

September 12, 2009
Morton Marcus
Recently, I saw a newspaper story detailing the number and percentage of jobs lost over the past year for Indiana’s metropolitan areas. This year-over-year story is appropriate, but it tends to hide the truth behind the numbers.
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Economy pushes executives into small firms

August 29, 2009
Peter Schnitzler
In the recession, folks with former big-company careers are increasingly taking jobs with small businesses. For some downsized executives, it’s about the desperate need for a paycheck. Others, who felt impotent and pigeonholed in corporations, discover they prefer the challenge of entrepreneurship.
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Lottery sales fall 11 percent as Lotto, scratch-off demand wanes

August 14, 2009
Scott Olson
The Hoosier Lottery limped through its latest fiscal year, turning in its poorest sales performance in a half-decade due mostly to declining demand for Hoosier Lotto tickets and scratch-off games, the Lottery said today.
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CIB OKs budget, but awaits council vote

August 10, 2009
Scott Olson
Members of the Indianapolis Capital Improvement Board this afternoon passed a $63 million budget for 2010 that hinges on the City-County Council’s approval of a hike in the local hotel tax.
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Purdue prof: 'Clunkers' could stall retail sales

August 5, 2009
Kim Puckett
The federal 'Cash for Clunkers' program has opened a floodgate of car sales that President Obama says is a much-needed boost for the economy. But retailers may feel the negative effects of America's collective investment in new cars, predicts a Purdue Retail Institute researcher.
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  1. to mention the rest of Molly's experience- she served as Communications Director for the Indianapolis Department of Public Works and also did communications for the state. She's incredibly qualified for this role and has a real love for Indianapolis and Indiana. Best of luck to her!

  2. Shall we not demand the same scrutiny for law schools, med schools, heaven forbid, business schools, etc.? How many law school grads are servers? How many business start ups fail and how many business grads get low paying jobs because there are so few high paying positions available? Why does our legislature continue to demean public schools and give taxpayer dollars to charters and private schools, ($171 million last year), rather than investing in our community schools? We are on a course of disaster regarding our public school attitudes unless we change our thinking in a short time.

  3. I agree with the other reader's comment about the chunky tomato soup. I found myself wanting a breadstick to dip into it. It tasted more like a marinara sauce; I couldn't eat it as a soup. In general, I liked the place... but doubt that I'll frequent it once the novelty wears off.

  4. The Indiana toll road used to have some of the cleanest bathrooms you could find on the road. After the lease they went downhill quickly. While not the grossest you'll see, they hover a bit below average. Am not sure if this is indicative of the entire deal or merely a portion of it. But the goals of anyone taking over the lease will always be at odds. The fewer repairs they make, the more money they earn since they have a virtual monopoly on travel from Cleveland to Chicago. So they only comply to satisfy the rules. It's hard to hand public works over to private enterprise. The incentives are misaligned. In true competition, you'd have multiple roads, each build by different companies motivated to make theirs more attractive. Working to attract customers is very different than working to maximize profit on people who have no choice but to choose your road. Of course, we all know two roads would be even more ridiculous.

  5. The State is in a perfect position. The consortium overpaid for leasing the toll road. Good for the State. The money they paid is being used across the State to upgrade roads and bridges and employ people at at time most of the country is scrambling to fund basic repairs. Good for the State. Indiana taxpayers are no longer subsidizing the toll roads to the tune of millions a year as we had for the last 20 years because the legislature did not have the guts to raise tolls. Good for the State. If the consortium fails, they either find another operator, acceptable to the State, to buy them out or the road gets turned back over to the State and we keep the Billions. Good for the State. Pat Bauer is no longer the Majority or Minority Leader of the House. Good for the State. Anyway you look at this, the State received billions of dollars for an assett the taxpayers were subsidizing, the State does not have to pay to maintain the road for 70 years. I am having trouble seeing the downside.

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