Retail sales fell unexpectedly in March, delivering a possible setback to hopes that the economy’s steep slide could be bottoming out. The Commerce Department said today that retail sales dipped 1.1 percent in March. It was the biggest decline in three months and a much weaker showing than the 0.3-percent increase that analysts expected. A […]
Express Scripts Inc. stands to gain considerable negotiating clout from its $4.68 billion deal to buy the pharmacy benefits management businesses of health insurer WellPoint Inc., and experts say that could mean savings for customers buying prescription drugs. St. Louis-based Express Scripts said yesterday it planned to buy Indianapolis-based WellPoint’s NextRx subsidiaries in a cash-and-stock […]
The Indiana House has approved legislation that would prohibit the governor from soliciting or receiving campaign contributions during long, budget-writing sessions of the General Assembly. The House approved the provision yesterday as an amendment to a bill about voting. Legislators already are prohibited from getting political contributions during sessions in odd-numbered years, which is when […]
Most people say they plan to use this year’s tax refund to pay bills, deciding in this sour economy to be more frugal with their annual windfall. Fifty-four percent of those receiving refunds said they intend to pay off credit card, utility, housing and other bills, according to an Associated Press-GfK poll released today. That […]
Most people say they plan to use this year’s tax refund to pay bills, deciding in this sour economy to be more frugal with their annual windfall. Fifty-four percent of those receiving refunds said they intend to pay off credit card, utility, housing and other bills, according to an Associated Press-GfK poll released today. That […]
More than $2 million forfeited by former state Teamsters president and accused gambling ring organizer John L. Neal will be divided among police agencies, prosecutors and an attorney. The Indiana Alcohol and Tobacco Commission and its investigative arm, the Indiana Excise Police, will receive 35 percent of the total sum of $2.09 million, or more […]
A top state senator said yesterday he would likely drop his proposal to double Indiana’s alcohol tax statewide to help fund the agency that runs the major Indianapolis sports stadiums and the Indiana Convention Center. Senate Appropriations Chairman Luke Kenley (R-Noblesville) told The Associated Press that he was probably going to amend his proposal next […]
An Indiana Senate Republican plan that would use federal stimulus money to increase funding for schools, colleges and universities has advanced to the full Senate.The Senate Appropriations Committee approved the two-year, $28.1 billion spending plan with a 10-2 vote today.The plan would rely on about $2 billion in stimulus money to increase funding for schools […]
Renovating a zoo facility called Monkey Island. Upgrading school toilets so they don’t flush when no one is around. Creating the world’s fastest alternative-fuel vehicle. Turning idle factory space into fish farms. State officials wanted suggestions on how to spend Indiana’s share of federal stimulus money, and they got plenty of ideas. About 9,000 proposals […]
International airports in Indianapolis and Fort Wayne will each receive about $1.3 million in federal economic recovery funds. U.S. Transportation Secretary Ray LaHood said yesterday the money will help create jobs while “investing in the long-term safety and economic vitality of our airports.” The Federal Aviation Administration will provide $1.33 million to Indianapolis International for […]
Firefighters battled a large fire this morning in Lapel that destroyed much of a central Indiana furniture manufacturer and produced a smoke plume visible for miles. No injuries were reported from the fire at Hickory Furniture Design, Madison County Sheriff Ron Richardson said. Brad McQueen, the business’ owner, said 10 to 12 workers were inside […]
A bill that would allow fines against government workers who blatantly violate Indiana’s public access laws is in jeopardy. The state Senate unanimously approved the bill, which supporters say would put much-needed teeth into Indiana’s open door and public records laws. But a House committee chairman said yesterday that he doesn’t plan to give the […]
The Indiana Senate approved a bill yesterday to regulate large-scale dog-breeding operations, a move supporters said could help crack down on so-called puppy mills. The bill, which passed 46-3, would require people to register as breeders if they have more than 20 adult female dogs capable of breeding. The bill also would require those who […]
A new government subsidy that helps the unemployed keep health insurance has left recession-weary employers nervous about the financial hit they may take if more people stay covered under their plans. Though the subsidy covers most of the premium, many employers are still worried they’ll be left holding the bag on costs, according to a […]
A large underground tank is being installed at Johnson Memorial Hospital as part of a project to safeguard against a repeat of flooding that caused more than $1 million in damage last year. The county-owned hospital had several inches of water on its first floor from the June 7 flooding that hit much of central […]
By MARCY GORDON WASHINGTON The chief executive of Goldman Sachs Group Inc. on Tuesday called for new standards on how Wall Street executives are compensated and new regulation of large hedge funds and private equity funds. Lloyd Blankfein, who received compensation valued at nearly $43 million last year, said lessons from the financial crisis include […]
The federal government said last night it will bump up a rate used to figure Medicare Advantage reimbursement to insurers by nearly 1 percent, but many analysts expect overall payment rates to fall next year. The Centers for Medicare & Medicaid Services said the national average growth percentage per capita for Medicare Advantage plans would […]
Purdue University plans to boost its student scholarship program with a $6 million donation. Purdue officials said today that that donation was the school’s largest-ever cash gift for scholarships. The school says the donor wants to remain anonymous. An additional $2 million from the donor will go toward other university projects. The scholarship donation will […]
Indiana state tax collections were down $157 million in March, with total revenues $755 million less for the first nine months of the fiscal year than lawmakers had approved for spending. Revenues have fallen short of original projections in eight of the nine months so far in this fiscal year. They were $4.1 million ahead […]
Wall Street will be watching when the federal government unveils final Medicare Advantage rates for 2010 after markets close today. So will health care insurers, including Indianapolis-based WellPoint Inc. Two months ago, several insurance stocks sank sharply after the release of preliminary data showed rate increases to be smaller than analysts expected. Medicare Advantage allows […]
