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The Carmel Clay School Board voted last night to cut $1.5 million from its $90 million budget by laying off 19 teachers. School officials hope federal stimulus money will help them recall many of those teachers when classes begin again in August.
A woman charged with defrauding clean-coal project investors of more than $2.5 million will be released from jail after a judge significantly lowered her bond. A Marion County judge agreed today to allow 50-year-old Dorothy Geisler-Tragardh’s release on a $50,000 surety and $30,000 cash bond, down from a $1 million cash bond. Defense attorney Mark […]
Eleven years have passed since University of Notre Dame students embarrassed the university by complaining that alum and then-Lt. Gov. Joe Kernan was too small of a fish to speak at their commencement.
Now, the university might be on…
Shortcomings in education stand as the biggest obstacles in building the state’s manufacturing and logistics industries, according to Conexus Indiana. Conexus, an Indianapolis-based not-for-profit that promotes manufacturing and logistics, unveiled its annual Indiana Manufacturing & Logistics Report Card this morning at a downtown breakfast. The event was co-sponsored by Indianapolis Business Journal. The report said […]
Tipton County filed a $14.1 million claim against Getrag Transmission LLC yesterday in the U.S. Bankruptcy Court for the Eastern District of Michigan, the Kokomo Tribune reported. The claim covers all costs incurred by the county in regard to the canceled construction of a transmission plant, Michael McCrory, an Indianapolis attorney representing Tipton County, told […]
The new Nestle plant in Anderson has resumed production of Nesquik after an inspection issue resulted in a two-day production interruption, the Anderson Herald Bulletin reported yesterday. The company temporarily stopped production of dairy products at the plant last week after a voluntary inspection revealed what Nestle spokeswoman Pam Krebs called “maintenance issues,” the newspaper […]
A California-based investor has purchased an 88-unit apartment complex in Brownsburg, his latest in a series of multi-family housing acquisitions in the area. Michael James of Walnut Creek, Calif.-based James Multi-family Group bought the Dublin Glen apartment building at 510 N. Enderly Ave. near I-74 for $3.4 million. Steve LaMotte, Amy Burmeister and Dane Wilson […]
If a tree falls in a forest, and no one is there to hear it, does it make a sound? Ball State’s Nate Davis might be asking that very question this week. His pro…
The Finish Line Inc. has hired the former chief financial officer of national bookstore chain Borders Group Inc. to take the same position at the Indianapolis-based athletic footwear and apparel retailer. Edward W. Wilhelm, 50, joined Ann Arbor, Mich.-based Borders in 1997 after a four-year stint at Troy, Mich.-based Kmart Corp. He will take over […]
Over at the Huffington Post, John Mellencamp has gone on at length about the state of the music business today.
Some excerpts:
–“Sadly, these days, it’s really a matter of ‘every man for himself.’ In terms of possibilities, we are but…
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 […]
