U.S. factory orders plunged 14.4% in March as economy ground to halt
The worse-than-expected slide—particularly steep for transportation products—underscored the severity of the economic impact from the pandemic.
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UPDATE: Council approves $25M to make federal paycheck loans available to small businesses
The Indianapolis City-County Council voted unanimously Friday morning to provide Indy Chamber with $25 million that will enable the business-advocacy group to quickly offer forgivable loans to small businesses in Marion County backed by the federal Paycheck Protection Program.
State, city government freeze hiring—but haven’t furloughed employees—as budgets tighten
| Lindsey Erdody and Samm Quinn
State and local government budgets are expected to be hit hard as a result of restaurants, retailers and other businesses being closed for weeks.
Indiana receives another $130M in tobacco-settlement funds
Indiana will continue to receive payments as long as tobacco manufacturers continue selling cigarettes in the state.
Michigan’s stay-home order extended through May 15
Michigan Gov. Gretchen Whitmer on Friday lengthened her stay-at-home order, while lifting restrictions so some businesses can reopen and the public can participate in outdoor activities such as golf and motorized boating during the coronavirus pandemic.
Bloomington firm’s story-writing software finds an audience
Steve Wasick has created artificial intelligence-driven story-writing software that CBS Sports, IU Health and the Chicago Mercantile Exchange are using.
NCAA moves toward allowing athletes to be paid by sponsors
Recommended rule changes that would clear the way for athletes to earn money from their names, images and likeness are being reviewed by college sports administrators this week before being sent to the NCAA Board of Governors, which meets Monday and Tuesday.
Gig workers, self-employed still waiting for jobless aid approval
There are many more filings for jobless aid to come, including millions of independent contractors, gig workers and the self-employed. Most states have not begun approving applications from these pools of newly eligible people.
$310B for small business loans likely spoken for, banks say
Banking industry groups say the volume of applications already sent to the Small Business Administration makes it likely that much, if not all, the new money will go to those already in the queue.
USA Track defends CEO’s $4.2 million 2018 compensation package
Less than a week after laying off more than 10% of its staff, Indianapolis-based USA Track & Field released tax records Wednesday that showed compensation figures for CEO Max Siegel.
IndyGo says COVID-19 will delay planned route improvements
COVID-19-related driver shortages, among other factors, mean that route improvements planned for June now won’t happen until 2021.
IU Health sees operating income plunge 49% due to COVID-19 outbreak
The number of surgeries and inpatient discharges fell by more than 7% as Gov. Eric Holcomb ordered all hospitals to delay non-essential and elective surgeries and procedures.
Chicago-area businessman acquires Indiana Beach
By purchasing the 94-year-old attraction, Gene Staples said he is “preventing the loss of another one of America’s icons.”
Democratic gubernatorial candidate tested for COVID-19
Woody Myers, a former state health commissioner and Anthem Inc. executive, said he thinks the state needs to ramp up testing significantly before considering re-opening the economy.
State, Fairbanks school partner to determine spread of virus in Indiana
Indiana is expected to be one of the first states to perform such a study, Gov. Eric Holcomb said when it was announced during a Thursday press briefing.
Government puts pressure on public companies to return loans
The Small Business Administration issued an advisory Thursday clearly aimed at companies like restaurant chains Ruths’ Chris Steak House and Potbelly that received loans under the Paycheck Protection Program.
Fishers mayor proposes city-level health department, free COVID-19 testing for residents
The Fishers City Council will convene an emergency meeting Friday to potentially create a city health department and spend $2 million to offer free and widespread COVID-19 testing for residents.
Lilly bracing for COVID-19-related headwinds this year
The Indianapolis-based drugmaker, which reported quarterly earnings Thursday, warned it could feel the effects of rising unemployment, a decrease in new prescriptions, and downward pricing pressure from government health care systems.
Marion County opening community testing site for vulnerable populations
The county health department will perform the tests on high-risk and symptomatic community members and those working on the front lines, especially in the food industry.
Black Expo calls off in-person Summer Celebration, Circle City Classic events
Organizers say they are planning to provide some events digitally. Officials said they are particularly concerned about the disproportionate effect the coronavirus is having on African Americans.
