The major stock market indexes have staggered to their lowest levels in more than a decade, pulled down by investors’ rapidly waning confidence. The Dow Jones industrial average and the Standard & Poor’s 500 index closed today at their lowest levels since 1997, succumbing to growing worries about a recession that has no end in […]
Rose-Hulman Institute of Technology in Terre Haute will soon be searching for its third new president in five years. The engineering and science school announced today that Gerald Jakubowski was resigning effective June 30, three years after he took the job. No reason for his departure was announced, and the school said its board of […]
The U.S. policy of shunning communist Cuba by imposing a strict trade embargo has failed to prod the island nation toward democracy and should be re-evaluated, according to the top Republican on the Senate Foreign Relations Committee. “We must recognize the ineffectiveness of our current policy and deal with the Cuban regime in a way […]
President Barack Obama said today he would begin distributing $15 billion to the states within two days to help them with Medicaid payments to the poor. The money will begin reaching the states Wednesday from the newly passed $787 billion economic stimulus program, Obama told the nation’s governors during a meeting at the White House. […]
European Union regulators have approved the blood thinner prasugrel, Indianapolis-based drugmaker Eli Lilly and Co. announced this morning. The European Commission granted marketing authorization for prasugrel, which will be sold in Europe under the brand name Efient. Lilly spokeswoman Carole Copeland said the drug will be launched “in the coming weeks,” with a separate rollout […]
Marvin Harrison’s reluctance to take a pay cut could mark the end of his career in Indianapolis. Colts president Bill Polian told reporters yesterday at the NFL’s annual scouting combine that the team was trying to rework Harrison’s deal to lower the receiver’s salary cap number from approximately $13.4 million, the highest number of any […]
The nation’s deepening recession has boosted business at Indiana’s pawn shops as people shed possessions – particularly electronics – for cash to pay bills. At Ace Pawn Shop in Bloomington, manager Chris Banul said business is up and he’s seeing more high-end items brought to the shop for collateral, or sold outright, as the economy […]
The nation’s deepening recession has boosted business at Indiana’s pawn shops as people shed possessions – particularly electronics – for cash to pay bills. At Ace Pawn Shop in Bloomington, manager Chris Banul said business is up and he’s seeing more high-end items brought to the shop for collateral, or sold outright, as the economy […]
European Union regulators have approved the blood thinner prasugrel, Indianapolis-based drugmaker Eli Lilly and Co. announced this morning. The European Commission granted marketing authorization for prasugrel, which will be sold in Europe under the brand name Efient. Lilly spokeswoman Carole Copeland said the drug will be launched “in the coming weeks,” with a separate rollout […]
Marvin Harrison’s reluctance to take a pay cut could mark the end of his career in Indianapolis. Colts president Bill Polian told reporters yesterday at the NFL’s annual scouting combine that the team was trying to rework Harrison’s deal to lower the receiver’s salary cap number from approximately $13.4 million, the highest number of any […]
Donna Sharp made a good living in Elkhart even without a high school diploma, earning about $19 an hour putting stripes on recreational vehicles in this northern Indiana county known as the RV capital of the world. Then Monaco Coach Corp. announced in July that it was closing the plant in Wakarusa where Sharp worked, […]
The Dow Jones industrial average tumbled to its lowest close in more than six years today as sharp declines in key financial shares led the market lower. The blue chips closed at their lowest level since Oct. 9, 2002, the last bear-market low. The Dow lost 89.68 points, or 1.2 percent, to end at 7,465.95. […]
A bill that would revoke the business licenses of companies that repeatedly hire illegal workers won unanimous support from a Senate committee yesterday. The committee took the unusual step of holding three separate meetings on the proposal – listening to supporters and opponents – before taking a vote. Sen. Mike Delph (R-Carmel) supports legislation to […]
The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year. The Labor Department reported today that the number […]
Mokulele Airlines yesterday said it made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc. Mokulele had defaulted on an $8 million loan, and Indianapolis-based Republic said it would come in and operate Mokulele if the Hawaii carrier failed to make the payment by the […]
Two large health insurers, including a unit of WellPoint Inc., are being investigated for charging more than California-mandated rates for last-resort health coverage affecting some 19,000 people. Blue Shield of California charged premiums as much as 55 percent above the California cap, while policies of Anthem Blue Cross, a unit of Indianapolis-based WellPoint, have been […]
A bill that would revoke the business licenses of companies that repeatedly hire illegal workers won unanimous support from a Senate committee yesterday. The committee took the unusual step of holding three separate meetings on the proposal – listening to supporters and opponents – before taking a vote. Sen. Mike Delph (R-Carmel) supports legislation to […]
A month after federal officials expressed concern about changes at Indiana’s environmental agency, state officials will meet today with their federal counterparts to explain those changes and how they might affect environmental protection. Environmentalists fear the Indiana Department of Environmental Management’s recent move to dissolve its enforcement office, take over air monitoring contracts with six […]
Several local government reorganization proposals floundered at the Indiana Statehouse yesterday, as lawmakers resisted some of the vast changes proposed by Republican Gov. Mitch Daniels. The Senate Local Government Committee gutted a bill to eliminate township governments, instead voting 9-2 for a more modest measure that would leave townships intact but add a review of […]
The United Auto Workers’ deal with Detroit’s three automakers limits overtime, changes work rules, cuts lump-sum cash bonuses and gets rid of cost-of-living pay raises, people briefed on the agreement said today. The UAW announced yesterday that it reached the tentative agreement with General Motors Corp., Chrysler LLC and Ford Motor Co. over contract concessions, […]
