Indiana’s treasurer says he won’t invest more state money in the corporate debt of companies receiving federal money after two funds he controls were stung by more than $1 million in combined losses in the Chrysler bankruptcy. Treasurer Richard Mourdock said today the Indiana State Police Pension Fund lost $147,400 and the Major Moves Construction […]
President Barack Obama wants drivers to go farther on a gallon of gasoline and cause less damage to the environment – and be willing to pick up the tab. Normal 0 false false false MicrosoftInternetExplorer4 Obama today plans to announce the first-ever national emissions limits for cars and trucks, as well as require a 35.5-miles-per-gallon […]
High schools that achieve the biggest graduation rate increases between now and next spring could receive up to $20,000 – money that would be split among each school’s principal and select staff members. Normal 0 false false false MicrosoftInternetExplorer4 State Superintendent of Schools Tony Bennett said today the goal of the new program is to […]
Revenue and jobs at the nation’s gambling halls fell last year as Americans became less willing to risk their money, according to a report released today by the national gambling industry’s trade association. Normal 0 false false false MicrosoftInternetExplorer4 The study by the American Gaming Association found revenue nationwide was down 4.7 percent in 2008, […]
A bus company is proposing service between Muncie and Indianapolis, with stops at communities in between. Louisville, Ky.-based Miller Trailways president John Miller said the service would begin in January 2010 if the company receives a federal grant through the Indiana Department of Transportation. The bus would leave Indianapolis each day at 9 a.m., with […]
The Indiana Department of Workforce Development told federal overseers yesterday that it has made changes that should cut a rate of miscalculating jobless benefits that was five times the national average. The state agency sent a 121-page document to the U.S. Department of Labor responding to a March report that found 41 cases in which […]
A recreational vehicle company plans a joint project with an electric engine maker in northern Indiana to begin producing what they say would be the first light-duty electric pickup truck. Executives from Gulf Stream Coach and Electric Motors Corp. announced the project today in the Elkhart County town of Wakarusa. The companies said they planned […]
Gov. Mitch Daniels signed legislation yesterday that proponents hope will ultimately fix Indiana‘s bankrupt unemployment insurance fund. But critics say the law will be far too costly for businesses and cost the state jobs. The bill approved by the General Assembly last month will dramatically increase unemployment taxes on employers but will not cut benefit […]
New jobless claims rose more than expected last week due partly to an increase in layoffs by the automobile industry, while the number of people continuing to receive unemployment benefits set a record for the 15th straight week. The U.S. Labor Department said today the number of new claims rose to a seasonally adjusted 637,000, […]
An Indiana medical device maker has told shareholders it is settling two-dozen lawsuits against Dr. John King, the one-time West Virginia osteopath at the center of scores of malpractice claims. Warsaw-based Biomet Inc. has reached agreements with 24 of 27 plaintiffs who sued over bone stimulators made by its EBI subsidiary and allegedly implanted by […]
A union leader says Toledo, Ohio-based Dana Holding Corp. has laid off nearly half of the employees at its Fort Wayne axle plant, due to the temporary shutdown of Chrysler plants. United Steelworkers Local 903 president Denny Leazier said 115 of the plant’s 280 employees were notified that they would be idled. He said the […]
Gov. Mitch Daniels has signed legislation designed to fix Indiana’s bankrupt unemployment insurance fund. The bill approved by the General Assembly in April will dramatically increase unemployment taxes on many employers but would not cut benefit payments. Proponents say it also will close loopholes in the system and make other changes to save money. Daniels […]
Steel producer ArcelorMittal plans to indefinitely lay off 978 workers from a northwestern Indiana plant. The world’s largest steel maker said it will stop iron-producing operations at its Indiana Harbor West mill until market conditions improve. Another blast furnace at Burns Harbor will remain in operation. Luxembourg-based ArcelorMittal blamed the “extraordinary economic environment” for the […]
Retail sales fell for a second straight month in April, a disappointing performance that raised doubts about whether consumers were regaining their desire to shop. A rebound in consumer demand is a necessary ingredient for ending the recession. Normal 0 false false false MicrosoftInternetExplorer4 The Commerce Department said today that retail sales fell 0.4 percent […]
Shares of Kite Realty Group Trust dropped in after-hours trading yesterday after the Indianapolis-based real estate investment trust said it expects 2009 funds from operations between 65 cents to 72 cents per share, which is below its prior guidance. On May 7, the company had forecast funds from operations between 83 cents and 93 cents […]
Fort Wayne-based scrap-metal processor OmniSource Corp. has cut 209 jobs, including 135 at its hometown operations. The company employs almost 2,600 people, including nearly 2,000 in Indiana, Ohio and Michigan. OmniSource chief operating officer Mark Millett said the cuts announced yesterday followed a “comprehensive review” of the company’s operation. He said some work is now […]
In an average year, southwestern-Illinois farmer Richard Borgsmiller would have his 300-acre corn crop in the ground. This isn’t an average year. Like farmers across the eastern Corn Belt, Borgsmiller has not even started planting thanks to a wet spring. He’s stuck waiting for a rain-free window long enough to dry out his land near […]
Normal 0 false false false MicrosoftInternetExplorer4 Indiana‘s State Budget Committee has ordered a new revenue forecast it hopes will paint a more accurate picture of state finances before lawmakers meet for a special budget-writing legislative session. Republican Sen. Luke Kenley of Noblesville said a committee will examine recent revenue projections and actual tax collections to […]
A former Indiana Teamsters boss and Anderson-area businessman has pleaded guilty to promoting professional gambling in an agreement that will allow him to avoid any additional time in jail. Seventy-one-year-old John L. Neal of Yorktown will serve 18 months on probation and will be credited with time served in federal custody for the same case. […]
The Horseshoe Casino in Hammond has been raking in record revenue for an Indiana casino, even as business is down at most of the state’s 10 other full casinos. State records show the casino had gambling revenue of $49.2 million in April, down slightly from March but a big jump from its $40.5 million in […]
