The U.S. economy shrank at a worse-than-expected 6.1 percent pace at the start of this year as sharp cutbacks by businesses and the biggest drop in exports in 40 years overwhelmed a rebound in consumer spending. The Commerce Department’s report, released today, dashed hopes that the recession’s grip on the country loosened in the first […]
Indiana lawmakers will be scrambling to meet tonight’s midnight deadline for adjourning the legislative session, but differences remained yesterday over a new state budget and fixing Indiana’s bankrupt unemployment insurance fund. Negotiators for House Democrats and Senate Republicans said yesterday that they had reached a tentative compromise on a plan designed to start fixing the […]
Pharmacy benefits manager Medco Health Solutions Inc. said today that new clients and increased use of higher-margin generic drugs boosted its profit in the first quarter, with results exceeding Wall Street’s expectations. Medco, based in Franklin Lakes, N.J., is building a $140 million automated pharmacy in Boone County that is expected to employ 1,300 people […]
When Ed Pegler was laid off from his highway construction job four months ago, the 47-year-old father of two didn’t know when he’d be back to work. Then the phone rang. There was a job, paid for by the federal stimulus law. It’s a story the White House hopes to repeat 3.5 million times, to […]
State legislators seem willing to give Indianapolis officials the power to raise several local taxes to help fund the city’s troubled stadiums agency. That plan, though, would force Mayor Greg Ballard to take some of the heat for increasing any of those taxes – and the task of persuading the Indianapolis Colts and Indiana Pacers […]
The state’s largest school district is cutting 300 teaching jobs in an effort to save about $25 million. The Indianapolis Public School Board voted last night to also cut 40 non-teaching jobs and move others into lower-paying positions. The district plans to use federal stimulus money to keep about 200 of the laid-off teachers as […]
Negotiators for House Democrats and Senate Republicans have reached a tentative compromise on a plan designed to start fixing Indiana’s bankrupt unemployment insurance fund, but remained at an impasse today on a new state budget. Lawmakers were scrambling to finish business before tomorrow’s midnight deadline for adjourning the regular session. Although negotiations continued on several […]
A young adult from northern Indiana has the state’s first confirmed case of swine flu, but the state health commissioner says the person is “doing well.” Health Commissioner Judy Monroe said today the person was a young adult from northern Indiana, but released no other details. She said that the ill person had not recently […]
Thousands of union workers packed the Statehouse yesterday to protest proposed cuts in jobless benefits as lawmakers try to compromise on legislation to fix Indiana’s bankrupt unemployment insurance fund. Republicans who control the Senate have proposed a plan that would increase employer taxes, reduce benefits for most jobless claimants and tighten eligibility standards. Democrats who […]
Construction workers gathered in Indianapolis for a midday rally at the Indiana Statehouse to protest proposed cuts in unemployment insurance benefits. Lawmakers have been trying to come up with a solution for the state’s unemployment insurance fund, which has been paying out hundreds of millions of dollars more in benefits than it has been collecting […]
It looks like scrappy Chrysler LLC might yet escape the auctioneer’s gavel. The smallest of the three major U.S.-based automakers cleared two major hurdles yesterday in its quest for survival, agreeing on a concession agreement with negotiators for the United Auto Workers and winning ratification of its cost-cutting deal with the Canadian Auto Workers. That […]
Construction workers are gathering in Indianapolis today for a midday rally at the Indiana Statehouse to protest proposed cuts in unemployment insurance benefits. Lawmakers have been trying to come up with a solution for the state’s unemployment insurance fund, which has been paying out hundreds of millions of dollars more in benefits than it has […]
General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half of GM’s government debt as part of a major restructuring effort needed to get more government aid. The struggling automaker also said it […]
Supporters of a proposal that would set Indiana’s first comprehensive renewable energy policy are watching closely as the legislative session enters its final days, although key lawmakers aren’t optimistic that the measure will pass. Indiana is the only state in the Upper Midwest without a renewable energy standard – a policy that sets a specific […]
U.S. Rep. Mike Pence says a proposal by congressional Democrats to regulate gases some blame for global warming could cost the average American household more than $3,000 a year in higher energy costs. Pence, a Republican from Indiana, said Democrats’ proposed cap-and-trade legislation to deal with carbon dioxide emissions would also drive more American manufacturing […]
Indianapolis Colts owner Jim Irsay says the positions taken by Indiana lawmakers and local officials over a $47 million shortfall at the city’s stadium agency could hurt attempts to recruit new businesses to the city and state. He said he wasn’t open to renegotiations. Irsay, talking to reporters during a break from the NFL draft […]
Republican Sen. Luke Kenley of Noblesville says he’s more optimistic now than he was a few weeks ago about the chances of reaching an agreement that would help Indianapolis’ cash-strapped stadium agency. State lawmakers on a joint House-Senate conference committee met for two hours yesterday talking about possible solutions for the Indianapolis Capital Improvement Board, […]
General Motors Corp. said today it will temporarily close 13 assembly plants in the U.S. and Mexico, some for more than two months, laying off nearly 24,000 workers to pare back a bloated inventory. The closures, which will start in May, vary by factory from as short as three weeks to a long as 11, […]
Indiana lawmakers on a legislative panel said yesterday they are confident they can reach a compromise on a new state budget, but key differences remain in plans backed by House Democrats and Senate Republicans. A House-Senate conference committee discussed its proposals publicly, a week before the April 29 deadline for the legislative session to end. […]
A union official said about 100 workers have been laid off from a central Indiana auto-parts plant over the last two weeks. International Brotherhood of Electrical Workers steward Patrick Owens said Emcon Technologies is laying off workers at the Columbus plant because of a slowdown as it awaits new business from Cummins Inc. and Volkswagen. […]
