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Nearly 120 employees at Dexter Axle Co. in Elkhart will lose their jobs when the plant closes May 25. Executives of the axle supplier informed the state of the plant’s closing on Friday. The company was founded locally in 1960 and is a subsidiary of London-based Tompkins PLC. The demise of Dexter is the latest […]
Outnumbered Democrats in the Indiana Senate were unsuccessful yesterday in trying to make major changes to a GOP plan designed to fix the state’s bankrupt unemployment fund. The Republican plan would increase taxes on employers, reduce benefits for most jobless people and tighten eligibility standards. Senate Democrats offered amendments that would keep benefit payments the […]
The Indiana House has advanced a proposal that supporters say would accelerate limits on tax bills and provide $200 million in property-tax relief. But don’t count on seeing those savings. The proposal is unlikely to pass the more deliberative Senate, where a Republican leader said caps on property-tax bills must be gradually implemented as originally […]
An Indiana money manager accused of trying to fake his death in a plane crash to flee mounting legal and financial woes has taken another hit. An administrative law judge has ordered Marcus Schrenker to pay $304,000 in restitution to bilked investors and $280,000 in state fines for violating state insurance rules. The judge’s order, […]
Wall Street is getting the good news it wants on the economy’s biggest problems: banks and housing. Investors reignited a two-week rally today, cheering the government’s plan to help banks remove bad assets from their books as well as a report showing a surprising increase in home sales. Major stock indicators jumped more than 6 […]
The owners of two vacant buildings and a fenced lot along Washington Street downtown aren’t giving up on redevelopment even after their plans for a…
Evansville-based Old National Bancorp announced today that it has completed its $15.9 million acquisition of 65 Charter One retail branches in Indiana from Providence, R.I.-based Citizens Financial Group. The deal was announced last November. Most of the branches are in the Indianapolis area. Additional locations are in the Lafayette, Fort Wayne, Anderson and Bloomington markets. […]
Sales of existing homes rose from January to February in an unexpected boost for the slumping U.S housing market as buyers took advantage of deep discounts on foreclosures. The National Association of Realtors said today that sales of existing homes grew 5.1 percent, to an annual rate of 4.72 million last month, from 4.49 million […]
The recession may have reversed the flow of immigration to Indiana as immigrants, both legal and illegal, leave the state to look for jobs. For example, Ligonier, about 35 miles northwest of Fort Wayne, saw its population swell from 3,400 in 1990 to nearly 6,000 as Hispanic immigrants from Mexico and other countries arrived. By […]
Ball State University last night knocked the two-time defending national champions out of the NCAA women’s basketball tournament. Ball State upset Tennessee 71-55 in the opening round. The Lady Volunteers (22-11) had never lost on the opening weekend of the tournament, going 42-0 in previous appearances. The game marked the NCAA tourney debut for the […]
Evansville-based Old National Bancorp announced today that it has completed its $15.9 million acquisition of 65 Charter One retail branches in Indiana from Providence, R.I.-based Citizens Financial Group. The deal was announced last November. Most of the branches are in the Indianapolis area. Additional locations are in the Lafayette, Fort Wayne, Anderson and Bloomington markets. […]
Arson investigators are trying to pinpoint the cause of a garage fire that destroyed seven cars and damaged five others early this morning at Union Laundry Lofts in the 700 block of Lexington Avenue, southeast of downtown. Neighbors say the same garage burned five or six years ago because of an electrical problem in one […]
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 […]
The Franklin Township school board tonight is expected to fire a bus driver accused of driving students home while intoxicated. Police say Phillip Leslie’s blood-alcohol content was three times the legal limit when he was arrested earlier this month after completing his afternoon route. The board also is expected to approve the resignation of a […]
The Obama administration launched a new effort today to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies. In announcing the program, Treasury Secretary Timothy Geithner pleaded for patience, saying that […]
The Carmel-Clay school board will vote tonight on a new budget plan that could cost some 19 employees their jobs. Board members need to figure out a way to cut $1.85 million from their $90 million budget. Fox 59 will have more at 10 p.m.
Eli Lilly and Co. won U.S. approval for its drug Symbyax as a medicine for treatment-resistant depression, the company announced today. The U.S. Food and Drug Administration OK’d Symbyax as the first drug for the acute treatment of treatment-resistant depression. So-called TRD is depression that has not improved when treated by two other antidepressants. Symbyax […]
Dr. Patrick J. Loehrer Sr. has been named interim director of the Indiana University Melvin and Bren Simon Cancer Center. Loehrer replaces founding director Dr. Stephen Williams, who died of melanoma on Feb. 15. A national search is under way for a permanent replacement for Williams. Loehrer has been medical director of the cancer center […]
An Indiana administrative law judge has ordered a Hamilton County money manager accused of trying to fake his death in a plane crash to pay $304,000 in restitution to bilked investors and $280,000 in state fines. Judge Douglas Webber’s order, made public today, comes two months after he heard from investors who said they lost […]
The Obama administration launched a new effort today to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies. Wall Street seemed to feel rejuvenated by the plan, at least initially. In […]
