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The Dow Jones industrial average plunged below 7,000 this morning for the first time in more than 11 years as investors grew pessimistic about the health of banks as well as the general economy. The Dow hadn’t traded below 7,000 since Oct. 28, 1997, and last closed below that mark on May 1 of that […]
Duke Realty Corp. has ended a year-long stretch without a chief financial officer, hiring Christie B. Kelly to the post effective Feb. 27, the Indianapolis-based company announced today. Kelly, 47, a former financial executive at General Electric Co. and Lehman Brothers Inc., replaces Matthew Cohoat, who stepped down last March. Kelly most recently was senior […]
Conseco Inc. said this morning that its auditors are considering including a clause in the company’s annual report expressing uncertainty about whether it can remain a “going concern.” The Carmel-based insurer also said preliminary fourth-quarter results indicate it lost $406.8 million or $2.20 a share. Driving down results was an $88 million loss in its investment […]
A Hancock County man has been sentenced to 27 months in prison on guilty pleas to wire fraud and money laundering. U.S. Attorney Timothy M. Morrison said 45-year-old Frederic Bowles Jr. of McCordsville admitted obtaining fraudulent loans for investors by submitting false loan applications, financial documents and appraisals. Morrison said Bowles obtained the loans to […]
The U.S. government today unveiled a revamped rescue package to insurance giant American International Group and will provide the troubled company another $30 billion on an “as-needed” basis. The new package comes as the company has burned through cash and has been unable to find buyers for pieces of its company that it hoped to […]
Democrats and Republicans in the Indiana General Assembly carved out some wide, partisan divides on several big issues during the first two months of the 2009 legislative session, setting the stage for a second-half rumble. Lawmakers reached the session midpoint – when bills passed by the House and Senate are taken up by the opposite […]
Despite the recession, the owners of some Indiana auto service shops say business is pretty good – apparently because many people are too cash-strapped to buy new cars. As the recession forces many people to hang onto older cars rather than buying new ones, it means more trips to the service center to keep those […]
More than 2,000 people, many of them recently laid off from factories or restaurants, filled a convention center to compete for about 200 seasonal and part-time jobs with Fort Wayne’s minor-league baseball team. Saturday’s turnout at the Grand Wayne Center for jobs ranging from ushers to parking lot attendants offered a good look at the […]
State officials are drafting plans to spend nearly $122 million in federal stimulus money to clean up Indiana’s aging, overflow-prone sewers and upgrade its drinking water systems. Although federal agencies are still fine-tuning details of how the nation’s $787 billion stimulus package can be spent, Friday was the first deadline for communities seeking money set […]
In a move to delay construction of expensive new generating capacity, Indianapolis Power & Light wants to roll out “smart”
electric meters to help customers conserve electricity.
Leaders on both sides of the aisle have called for streamlining township government, and it’s time to demand that our legislators
make those changes.
Some of Indiana’s most high-profile women have something in common beyond their gender and community status: They were Girl
Scouts.
Experts worry that if unemployment worsens, even more companies could be forced to cut benefits, especially health insurance.
It was not World War II that moved America out of the Great Depression.
Since late September 2007, I have screamed about sitting in cash and, for the last few months, buying a little gold.
After years of torrid gains in the number of wireless phones it handles, Brightpoint has had two consecutive comparable-quarter
declines.
Raising Indianapolis’ tax on hotel rooms — already one of the highest rates in the nation — could be the tipping
point that causes conventioneers to bypass Indianapolis, some industry experts say.
Try out Vimeo (www.vimeo. com) and blip.tv as alternatives to YouTube.
PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger between PNC
Financial Services Group Inc. and National City Corp., as well as the recession and PNC’s strategy.
Henri and Shelley Najem, who own The Bella Vita restaurant in Geist, represent the scores of Indiana restaurant operators
feeling financial pressure, given the severe economic slump.
