Indianapolis police say an assistant bank manager bungled an attempt to cover up his theft by locking his keys inside the vault after setting a fire there. Police arrested 31-year-old Dwayne Roberts on arson and theft charges. Police Sgt. Matthew Mount said Roberts had apparently been stealing money from a Fifth Third Bank branch on […]
General Motors Corp. today posted a $6 billion first quarter loss and said it spent $10.2 billion more cash than it took in during the first three months of the year as revenue plummeted by $20 billion. Chief Financial Officer Ray Young said talk of the company going into Chapter 11 bankruptcy protection appeared to […]
Normal 0 false false false MicrosoftInternetExplorer4 General Motors Corp. today posted a $6 billion first quarter loss and said it spent $10.2 billion more cash than it took in during the first three months of the year as revenue plummeted by $20 billion. Chief Financial Officer Ray Young said talk of the company going into […]
The only Ford dealership in the southwestern Indiana city of Vincennes will close its doors later this month, one of the latest victims of the nation’s struggling auto industry. Mayor Al Baldwin said he’s stunned by the news that Vincennes Ford will close May 23 after more than 71 years of selling cars to Vincennes […]
Normal 0 false false false MicrosoftInternetExplorer4 More Indiana schools have fallen into academic watch and probation status, and the state is sending assistance teams to help 31 schools stuck for years on the lowest rung of the state’s five-tier ranking system. State Superintendent Tony Bennett said today that teams of three to five people will […]
The soggiest April in decades has left Indiana farmers far behind in their annual sprint to plant the state’s corn crop, a delay that could cut farmers’ yields if fields don’t dry out within the next two weeks. As of Sunday, only 5 percent of Indiana’s corn crop had been planted. In contrast, an average […]
Indiana University has announced plans to establish schools of public health in Bloomington and Indianapolis. IU President Michael McRobbie said the schools will work on public health problems in the state, such as obesity, cardiovascular disease and diabetes. The Bloomington school will focus on rural health issues while the school on the IUPUI campus in […]
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 […]
