Local manufacturing stalwart Allison Transmission will have to restructure its more than $4 billion in debt or further cut expenses if it’s going to weather the recession. That’s the conclusion of analysts at Moody’s and Standard and Poor’s, which have issued negative outlooks for Allison, the top commercial truck-transmission supplier. “The downgrades reflect our concern […]
Efforts to fix Indiana’s bankrupt unemployment insurance system are shaping up as a slugfest in the General Assembly, one likely to last to the end of the session in late April – if not beyond. “This is the one issue that can slip us into a special session, and we had the opportunity to start […]
Efforts to fix Indiana’s bankrupt unemployment insurance system are shaping up as a slugfest in the General Assembly, one likely to last to the end of the session in late April – if not beyond. “This is the one issue that can slip us into a special session, and we had the opportunity to start […]
In the past, lawmakers ignored the need to fix financing for the Unemployment Insurance Trust Fund, and now they must come
up with solutions that will be difficult for both Democrats and Republicans to accept.
Dennis May, 41, slated to take over as HHGregg CEO in August, vows to continue growing what is already the nation’s largest
regional electronics player.
HHGregg Inc. had only 18 stores when Dennis L. May left the bankrupt Sun Television and Appliances chain in Ohio about 10 years ago to join the locally based company. Today, HHGregg has 108 stores and stands as a rare survivor in a crowded field of home technology retailers. And the closure of Circuit City […]
The CEO of Indianapolis-based Duke Realty Corp. took home roughly $4 million in total compensation in 2008, a year in which the company’s stock price plummeted 75 percent. Dennis D. Oklak, 55, received about $1 million more in 2008 than in 2007, the company reported this week in its annual proxy filing. The compensation consisted […]
After two mega-mergers last week among pharma companies, the buzz grew deafening with speculation about future mergers, including the possibility of Eli Lilly and Co. linking up with Bristol-Myers Squibb Co. Indianapolis-based Lilly has steadfastly said it’s not interested in big mergers. But even if Lilly wanted to merge, does it have the capital to […]
Indiana Senate Republicans have proposed a plan designed to fix the state’s bankrupt unemployment insurance fund by increasing employer taxes overall, reducing benefits for some jobless people and tightening eligibility requirements. “Our effort is to make changes in the system that are gradual but does put us on a definite path to solvency in our […]
The key legislative item at this point remains House Bill 1001, the budget bill.
Imagine racking up nearly $3 million in debt every day. That’s more than $100,000 an hour, or about $2,000 a minute. Indiana is diving deeper into debt as it struggles to pay jobless benefits from its bankrupt unemployment insurance fund, which is paying out hundreds of millions more than it collects in taxes from employers. […]
State officials had high hopes for an investment pool created last year to give Indiana’s school districts and local governments a safe, short-term place to deposit taxpayer money and earn interest. Then the economy tanked. The account’s daily interest rate fell from 3.23 percent last February to just 0.53 percent today. Its balance dwindled from […]
A leading state senator wants to rely on money from the federal stimulus package to give a slight spending increase to Indiana’s public schools. Senate Appropriations Chairman Luke Kenley (R-Noblesville) said yesterday that he is still developing his proposal. But he wants to use $683 million in stimulus money in hopes of increasing basic funding […]
A leading state senator wants to rely on money from the federal stimulus package to give a slight spending increase to Indiana’s public schools. Senate Appropriations Chairman Luke Kenley (R-Noblesville) said yesterday that he is still developing his proposal. But he wants to use $683 million in stimulus money in hopes of increasing basic funding […]
State officials had high hopes for an investment pool created last year to give Indiana’s school districts and local governments a safe, short-term place to deposit taxpayer money and earn interest. Then the economy tanked. The account’s daily interest rate fell from 3.23 percent last February to just 0.53 percent today. Its balance dwindled from […]
A top state senator is developing a proposal for fixing Indiana’s bankrupt unemployment insurance fund that he said yesterday is likely to include higher taxes on employers and cutting benefits paid out to the jobless. Republican Sen. Dennis Kruse of Auburn, chairman of the Senate Pensions and Labor Committee, is taking the lead on the […]
The state’s two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive
director and board.
Baker & Daniels attorney Max Siegel was recently named to the USA Track & Field board and will play a role in a restructuring
of the sports sanctioning body headquartered in Indianapolis.
For me, the weekend included a visit to Pike Performing Arts Center to see BodyVox (more on that in an upcoming review), finishing Dennis Lehane’s epic Boston police novel “The Given Day” (the first big book in a long while that…
The state’s two biggest pension funds are poised to combine into one Indiana Public Retirement System, with a single executive director and board. And they’ll need only one tourniquet to stem their bleeding. Over the last 15 months, the Public Employees’ Retirement Fund and Indiana State Teachers’ Retirement Fund have hemorrhaged a combined $8 billion. […]
