Indiana Gov. Mitch Daniels is calling legislators back to the Statehouse next week to resume work on a new state budget. Daniels told members of the bipartisan State Budget Committee today that the special legislative session would begin June 11. Daniels said he hopes that give lawmakers plenty of time to agree on a spending […]
General Motors Corp. has a tentative agreement to sell its Hummer brand to Sichuan Tengzhong Heavy Industrial Machinery Co. of China, a person briefed on the deal said today. GM announced earlier today that it has a memorandum of understanding to sell the brand of rugged SUVs, but the company didn’t disclose the buyer. The […]
General Motors Corp. said today that it has tentatively agreed to sell its Hummer brand, a day after the U.S. automaker filed for bankruptcy protection with hopes that it will transform its most profitable assets into a new company within just 30 days. The Detroit-based company did not name the proposed buyer or the price, […]
A federal bankruptcy judge has approved the sale of most of Chrysler LLC’s assets to Italy’s Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection. But it didn’t take long for a trio of Indiana state pension and construction funds to file an appeal, saying that […]
Indiana Gov. Mitch Daniels wants to slash overall state spending by 2.5 percent, but the budget he outlined in a live broadcast last night would give public schools and student aid a boost. The Republican governor also said he’s willing to reach into the state’s piggy bank – a bit. He said he wants to […]
General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 […]
General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. Normal 0 false false false MicrosoftInternetExplorer4 GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial […]
U.S. construction spending rose 0.8 percent in April, defying economists’ forecasts for a decline. The unexpected gain – the most since August – marked the second straight month that builders boosted spending on construction projects around the country, the Commerce Department reported today. Economists were bracing for a 1.2-percent drop in construction spending for April. […]
Indiana University will lose two of its top Bloomington campus administrators as Richard McKaig and Terry Clapacs retire this summer. McKaig is the campus’ dean of students and will retire July 31 after 38 years at the university. Clapacs is the vice president and chief administration officer and will end his 43 years with IU […]
A federal bankruptcy judge approved the sale of most of Chrysler LLC’s assets to Italy’s Fiat, moving the American automaker a step closer to its goal of a quick exit from court protection. But a trio of Indiana state pension and construction funds filed an appeal, saying that the ruling sets aside the rights of […]
Frugal consumers trimmed spending in April – although by less than expected – as rising unemployment kept pocketbooks in check. With income growth far outpacing spending, Americans’ personal savings rate zoomed to 5.7 percent, the highest since February 1995, the Commerce Department reported today. Consumer spending dipped 0.1 percent in April. That was slightly less […]
General Motors Corp., the century-old automaker battered by the economic downturn, mounting debt and management problems, filed for Chapter 11 bankruptcy protection this morning as part of an Obama administration plan to shrink the automaker to a sustainable size and give a majority-ownership stake to the federal government. GM’s bankruptcy filing is the fourth-largest in […]
Gov. Mitch Daniels will outline his latest budget proposal to Indiana residents during a live television broadcast tonight at 6 p.m., a day before going over the plan with lawmakers. Daniels’ office said Friday that the remarks will only last about 5 minutes. Tomorrow, a formal budget presentation will be made to a legislative committee. […]
A bankruptcy judge said Friday that he will rule by today on whether Chrysler LLC can go forward with its plan sell most of the company to a group headed by Italy’s Fiat and take a big step toward its goal of a speedy exit from Chapter 11. U.S. Judge Arthur Gonzalez’s ruling will likely […]
With the clock ticking on a June 1 government deadline to restructure, General Motors Corp. worked feverishly yesterday to shore up its global businesses to clear the way for a speedy reorganization in bankruptcy court. GM, part of American life for more than 100 years and once the country’s largest employer, is expected to file […]
Guidebook beats smartphones in smackdown Slow download speeds, small screens hinder phones Conde Nast Traveler magazine sent three reporters to Moscow, one armed with an iPhone, one with a BlackBerry Bold, and one with an old-fashioned guidebook, to see whether the gadgets or the book were more helpful in completing a series of typical tourist […]
Rapidly growing Ivy Tech Community College has formed a study committee to figure out how the school can cope with its growing enrollment amid budget limitations. Ivy Tech officials worry the school may not be able to accommodate the increasing crush of students. Summer-class enrollment is up 33 percent over last year. The study committee […]
In a long, narrow room lined on both sides with metal and plywood shelving, a few dozen jars of peanut butter and cans of green beans dot the mostly vacant spaces in the Salvation Army food pantry. “We are a little bit empty right now,” said Rodney Morin, director of the Anderson pantry. Over the […]
The fate of a bill that would delay statewide property tax reassessment by one year is in doubt in the upcoming special legislative session. Assessors are scheduled to begin the first comprehensive general reassessment of property in about a decade starting July 1, but tax officials and lawmakers hope to delay that work because some […]
The federal government will offer guaranteed lines of credit to automobile, boat, recreational vehicle and other dealerships under a pilot program through the Small Business Administration. SBA Administrator Karen Mills said the Dealer Floor Plan financing program will be available July 1 through Sept. 30, 2010, and will offer dealerships a way “to get through […]
