Knauf Insulation is cutting 11 percent of its work force in Shelbyville as the recession prolongs the housing downturn that
began two years ago.
Kite Realty Group Trust has joined local peers Duke Realty Corp. and Lauth Group Inc. in laying off employees as it copes
with dried-up credit and a soft retail market.
Ball State University’s Indiana econometric model predicts that earnings in all of Indiana’s
major economic sectors except health care will decline in the next three months.
New car dealers, usually among the most resilient of all small businesses in weathering economic downturns, are hanging on
for dear life this time around, portending a shakeout among Indiana’s 520 dealers.
With a growing labor market in Indiana, it would seem this recession, thus far, is an economic shock that may be of shorter
duration and severity than the 1982 decline.
Emmis Communications Corp. struggles to contain expenses and minimize debts due to radio advertising shortfalls.
Locally based Powerway Inc. is scrambling to shrink its work force and remake its business plan after the firm’s most lucrative
customer–the ailing automaker Chrysler LLC–said it will no longer use Powerway software or mandate its use among the company’s
hundreds of suppliers. Powerway laid off 14 employees and slashed salaries for many who remain after it learned of Chrysler’s
plans on June 6.
A growing percentage of men and women nationwide are reaching a career crossroads at a time when most would hope to have it
made. Almost a quarter of the 3.8 million Americans displaced from their jobs from 2003-2005 were 55 or older, according to
the U.S. Bureau of Labor Statistics, up from 21 percent in the prior three years.