Experts say the wave of layoffs and pay cuts that first ravaged the service industry in mid-March are starting to erode management, upper-level and even executive jobs.
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Some local restaurants trying to stay afloat without dine-in service report sales have plunged by two-thirds or more, raising questions about how much longer they’ll be able to survive.
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Asbury, which has eight Indianapolis-area dealerships, said it’s furloughing 2,300 employees across its 10-state operating footprint due to a sharp drop-off in sales and service revenue.
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We check in with firms of all stripes to learn how they’re seeking to persevere—and how some are plotting to gain a competitive advantage when normalcy returns.
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In Indiana, more than 90% of federal loans topping $150,000 went to companies, according to the Treasury Department data. About 6% of the loans went to not-for-profit organizations.
The child-care crunch triggered by the pandemic has rapidly become a crisis for many workers and companies that is hindering the economic recovery, disproportionately harming women, and threatening to leave deep scars for years to come.
The field of economics is facing an upheaval, with African American scholars decrying bias in the profession and presenting evidence that leading journals have failed to publish sufficient research that documents racial inequalities.
Food costs have been rising due to high demand from Americans cooking more at home, but also because of lost production following virus outbreaks at food-processing facilities.
In all, the department store chain—which filed for bankruptcy protection last month—is closing nine locations in Indiana.
Netlogx has been working to help clients navigate the difficulties of the pandemic. And one of its key pieces of advice to business leaders is to keep a crisis journal. And to do it every day because the situation and information has been changing so quickly.
Stage 3 of the governor’s roadmap, scheduled to start Sunday, is set to increase the social gathering limit from 25 people to 100, allow retailers to go from operating at 50% capacity to 75% capacity, let fitness centers reopen and allow movie theaters to open at 50% capacity.
Now, as President Donald Trump and many Republicans press to reopen the economy, some experts see an ominous risk: That a too-hasty relaxation of social distancing could ignite a resurgence of COVID-19 cases by fall, sending the economy back into lockdown.
Leadership coach Craig P. Anderson says that a concise, straightforward business plan is the key to success—not just in normal times, but especially now, when the economy has been thrown for a loop.
The state is launching a marketplace for small businesses to help them acquire the face masks, sanitizer and other supplies they might need to reopen.
A survey of about 350 members of the National Federation of Independent Businesses found 59% want state and local governments to lift stay-at-home orders immediately and let companies reopen.
Among the concerns is that people—employees and consumers alike—will remain too wary of contracting the coronavirus to return to anything resembling normal economic behavior.
It was the sharpest fall since the economy shrank at an 8.4% annual rate in the fourth quarter of 2008 in the depths of the Great Recession.
Indiana Legal Services, Prosperity Indiana, Neighborhood Christian Legal Clinic and Indiana Institute for Working Families petitioned the court to protect the payments issued as part of the federal Coronavirus Aid, Relief and Economic Security Act.
Indiana governor said employees must have “a very high level of confidence about the workplace” when businesses reopen.
Indy Chamber CEO Michael Huber talks about the programs, what kinds of companies need them most and how the experiences have changed the way he’s thinking about his organization and what its mission will be going forward.
He says a “rolling re-entry” will be required based on the status of the new coronavirus pandemic in various parts of the country.
Consumer prices saw their largest monthly decline in five years, revealing the downward pressure that the coronavirus pandemic is exerting on the cost of gasoline, airfares, hotel rooms and other goods and services.
In Indiana, 133,639 people filed unemployment claims in the week ended April 4, down from 139,174 the previous week, and way up from 75,522 the week before that.
In this first episode of IBJ’s Beyond COVID podcast, Matt Neff offers advice for businesses trying to get back on track. And IBJ reporter Lindsey Erdody provides an update about Indiana Gov. Eric Holcomb’s stay-at-home order and, in particular, how the latest iteration affects liquor stores.
