Fort Wayne Foundry Corp. plans to close its production plant in Fort Wayne in June, eliminating 157 hourly positions. The company said today that it also would conduct a “mass layoff” in June at its Fort Wayne machining division, which had about 150 employees in mid-2007. The company, however, did not say how many jobs […]
The struggling economy is sending more people to libraries to check out books and DVDs for free and avoid costly rentals or purchases, library officials say. Last year, the number of items checked out at the Kokomo-Howard County Public Library rose 6 percent, boosting its annual borrowing to more than 1.1 million items for the […]
A central Indiana county is demanding that Chrysler LLC return $5.5 million in county-issued bonds and repay at least $4.5 million it set aside for a sprawling transmission plant that a Chrysler supplier stopped building last year. Tipton County’s commissioners said yesterday in a statement prepared by an Indianapolis law firm that Chrysler sent them […]
Famed Bloomington watering hole Nick’s English Hut has been opening its doors to the under-21 crowd for more than a year. And it has the state’s blessing to do so. Indiana has relaxed its alcohol laws in recent years to permit more bar/restaurants – once off limits to those under 21 – to open their […]
Investors’ despair about financial companies and the recession sent the Dow Jones industrial average to another unwanted milestone today: its first drop below 7,000 in more than 11 years. The Dow fell 4.2 percent in today’s trading, dropping 299 points to close at 6,763.29. The Dow’s descent has been swift. It’s taken only 14 sessions […]
Indianapolis-based Elli Lilly and Co. and New York-based partner Bristol-Myers Squibb Co. have failed to win U.S. approval to sell Erbitux as a first-line treatment for head and neck cancers. Regulators questioned differences in American and European versions of the drug, which is already approved to treat colon tumors and certain drug-resistant head-and-neck malignancies. The […]
Despite the recession, the owners of some Indiana auto service shops say business is pretty good – apparently because many people are too cash-strapped to buy new cars. As the recession forces many people to hang onto older cars rather than buying new ones, it means more trips to the service center to keep those […]
The Dow Jones industrial average plunged below 7,000 this morning for the first time in more than 11 years as investors grew pessimistic about the health of banks as well as the general economy. The Dow hadn’t traded below 7,000 since Oct. 28, 1997, and last closed below that mark on May 1 of that […]
A Hancock County man has been sentenced to 27 months in prison on guilty pleas to wire fraud and money laundering. U.S. Attorney Timothy M. Morrison said 45-year-old Frederic Bowles Jr. of McCordsville admitted obtaining fraudulent loans for investors by submitting false loan applications, financial documents and appraisals. Morrison said Bowles obtained the loans to […]
The U.S. government today unveiled a revamped rescue package to insurance giant American International Group and will provide the troubled company another $30 billion on an “as-needed” basis. The new package comes as the company has burned through cash and has been unable to find buyers for pieces of its company that it hoped to […]
Despite the recession, the owners of some Indiana auto service shops say business is pretty good – apparently because many people are too cash-strapped to buy new cars. As the recession forces many people to hang onto older cars rather than buying new ones, it means more trips to the service center to keep those […]
More than 2,000 people, many of them recently laid off from factories or restaurants, filled a convention center to compete for about 200 seasonal and part-time jobs with Fort Wayne’s minor-league baseball team. Saturday’s turnout at the Grand Wayne Center for jobs ranging from ushers to parking lot attendants offered a good look at the […]
State officials are drafting plans to spend nearly $122 million in federal stimulus money to clean up Indiana’s aging, overflow-prone sewers and upgrade its drinking water systems. Although federal agencies are still fine-tuning details of how the nation’s $787 billion stimulus package can be spent, Friday was the first deadline for communities seeking money set […]
BAE Systems Inc. plans to consolidate operations and move 200 jobs to its Fort Wayne plant to make electronic components for cabins in the Boeing 737 and 777 aircraft. The London-based company said it would cut 500 jobs from its Irving, Texas, plant and add 200 at Fort Wayne during the next 18 months. BAE […]
Fort Wayne Mayor Tom Henry wants voters to decide whether the Indiana’s second largest city should seek a state casino gambling license. The Democratic first-term mayor said a citywide referendum should be held as early as this fall to decide whether the city should pursue a license. Henry also said the ongoing debate over whether […]
Political sparring in the narrowly divided Indiana House has sidelined legislation to help fix the state’s bankrupt unemployment insurance fund – but lawmakers say the critical issue will be revived. The proposal would have significantly raised taxes on employers to help balance the fund. The account pays out millions of dollars more than it collects […]
Mount Vernon-based SABIC Innovative Plastics said yesterday it plans to lay off as many as 125 workers next month as part of a series of cost-cutting measures. The measures include reducing executive salaries, freezing salaried employees’ pay and reducing the company’s 401(k) match. The plant, which employs about 1,200 workers in the southern Indiana community, […]
New-home sales tumbled to a record-low annual pace in January and there’s no relief in sight as mounting damage from the collapsed housing market pushes the country deeper into recession. The Commerce Department reported today that sales fell 10.2 percent, to a seasonally adjusted annual rate of 309,000, the worst showing on records going back […]
New jobless claims rose more than expected last week and the number of laid-off Americans continuing to receive unemployment benefits topped 5.1 million, fresh evidence the recession is increasingly forcing employers to shed jobs. The Labor Department said today that first-time requests for unemployment benefits jumped to 667,000 from the previous week’s figure of 631,000. […]
The state’s casinos would get tax breaks under a bill approved yesterday by the Indiana House. The bill would lower tax rates for casinos at the state’s pari-mutuel tracks in Anderson and Shelbyville. They’re struggling to pay debts they took on to pay $250 million each in slot machine licensing fees. The bill would also […]
