Regional airline operator Republic Airways Holdings Inc. said yesterday its first quarter profit fell by 89 percent as costs rose and traffic fell slightly. Indianapolis-based Republic, which flies regional jets for carriers including Delta Air Lines, United Airlines, and US Airways, said it earned $2.2 million, or 6 cents per share, during the quarter that […]
Indiana Gov. Mitch Daniels wants a new state revenue forecast before he calls lawmakers back for a special session to write a budget, saying that a revised forecast issued last month was so far off in April that a new starting point is in order. That and other comments he made yesterday drew mixed reactions […]
Normal 0 false false false MicrosoftInternetExplorer4 Brightening news about the economy sent investors rushing into stocks today and sent the Standard & Poor’s 500 index above the break-even point for the year. The S&P 500 soared 29.7 points to 907.23, an increase of 3.4 percent during the day and 0.44 percent for the year. The […]
Indiana Gov. Mitch Daniels said today the budget bill the General Assembly voted on but did not pass last week would have consumed the state’s reserves at the end of two years and left a $1 billion shortfall. April’s revenues, announced this morning, were $255 million below a revised fiscal forecast issued last month. Daniels […]
The lingering recession is forcing the organizers of some of Indiana’s festivals to scale back their events or move them to more affordable venues before the state’s festival season gets under way. In Indianapolis, not-for-profit Storytelling Arts of Indiana canceled its long-running fall festival this year because it anticipates large cuts in city and state […]
Three days before the Indiana General Assembly was to end last week, Republican Gov. Mitch Daniels said one way to avoid an extra session was to be clear about what he could and could not accept in a new state budget. He said budget plans passed by House Democrats and Senate Republicans were not acceptable […]
Normal 0 false false false MicrosoftInternetExplorer4 Indiana Gov. Mitch Daniels said today the budget bill the General Assembly voted on but did not pass last week would have consumed the state’s reserves at the end of two years and left a $1 billion shortfall. April’s revenues, announced this morning, were $255 million below a revised […]
Construction spending rose unexpectedly in March after five straight declines, as strength in nonresidential projects and government building offset a further slide in housing. The Commerce Department said today construction spending increased 0.3 percent in March, the best showing since a similar rise last September. Economists surveyed by Thomson Reuters had expected spending to drop […]
President Barack Obama plans changes to tax policy likely to be unpopular with corporations with international divisions and individuals who use tax havens. Obama’s two-part plan, which he is slated to be unveiled at the White House today, also calls for 800 new federal tax agents to enforce the system. The president’s proposal would eliminate […]
Normal 0 false false false MicrosoftInternetExplorer4 The number of unlicensed, faith-based child care centers has grown by nearly 30 percent in Indiana since 2001, worrying supporters of state-licensed child-care centers struggling to hold their own. The state’s child care ministries are tax exempt and face minimal regulations, unlike Indiana’s highly regulated licensed centers, The Fort […]
The lingering recession is forcing the organizers of some of Indiana’s festivals to scale back their events or move them to more affordable venues before the state’s festival season gets under way. In Indianapolis, not-for-profit Storytelling Arts of Indiana canceled its long-running fall festival this year because it anticipates large cuts in city and state […]
Republicans and Democrats in the Indiana House had plenty to disagree about before they voted down a proposed state budget, forcing a special legislative session. But in the thick of talks over state spending, a heated debate emerged about whether the growth of charter schools should be limited. That discussion will likely continue as lawmakers […]
Wabash National Corp. has told nearly 800 workers who were laid off over the winter that it does not expect to recall them. The Lafayette-based truck-trailer manufacturer notified the Indiana Department of Workforce Development of the decision on Friday, saying the decision was prompted by declining demand projections for new trailers. The economic slowdown also […]
Chrysler LLC filed for Chapter 11 bankruptcy protection in New York today and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation’s ailing third-largest automaker. The move will idle Chrysler production workers across the nation for 60 days or more, including about 6,000 employees in Indiana […]
Indiana Gov. Mitch Daniels says he will call a special session on the budget when lawmakers are ready to deal with fiscal realities. The General Assembly adjourned last night without passing a new, two-year budget, which will force lawmakers to reconvene to craft a spending plan. Daniels said today that the plan lawmakers voted on […]
Indiana Gov. Mitch Daniels said he plans to sign into law a proposal to fix Indiana’s bankrupt unemployment fund, despite calls from business leaders for him to veto the bill. The state’s unemployment insurance fund currently pays out hundreds of millions of dollars a year more in benefits than it collects in employer taxes. The […]
Auburn Hills, Mich.-based Chrysler LLC, which has about 6,000 workers in Indiana at four plants in Kokomo, will file for Chapter 11 bankruptcy protection in New York today and be eligible for up to $8 billion in federal aid, senior administration officials said today. The move would come after talks with a small group of […]
Democratic Indiana House Speaker Patrick Bauer is blaming Republican Gov. Mitch Daniels for the need of a special legislative session. The General Assembly did not pass a new state budget by last night’s midnight deadline for adjourning the session, which will force Daniels to call a special session to get one approved. Bauer said today […]
Auburn Hills, Mich.-based Chrysler LLC, which has about 6,000 workers at four plants in Kokomo, will file for bankruptcy, two Obama administration officials said today. The move would come after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan. […]
Lawmakers failed to take action on a bill last night before the General Assembly adjourned that would have given Indianapolis local taxing options to help its struggling stadium agency. The bill may have some hope if it is revived in the special session that is now necessary after lawmakers failed to pass a new state […]
