Americans spend more in May, see incomes rise
Americans spent a little more in May but not enough to speed along the economic recovery.
Recession
Articles
Subcontractors come to Estridge’s aid with $10M investment
Estridge Cos.’ subcontractors have invested $10 million into the firm led by COO Matt Cohoat and CEO Paul Estridge Jr.—an
infusion that paves the way for them to proceed with
a massive development in Westfield.
National new-home sales plunged to record low in May
Purchases of new homes in the United States fell in May to a record low as a federal tax credit expired, showing the market
remains
dependent on government support.
U.S. unemployment rate dips on census hiring
Virtually all the job creation in May came from the hiring of 411,000 census workers. Job creation by private companies grew
at the slowest pace since the start of the year.
Economic rebound slowed last quarter
The economic recovery last quarter turned out to be slower than first thought, one of the reasons unemployment is likely to
stay high this year.
Congress aims to put some discipline in lending
Congress is getting tougher on both borrowers and lenders blamed for inflating a housing bubble that, when it popped, plunged
the nation into a severe recession two years ago.
New Indiana law aims to promote safety of traditional loans
A new state program is encouraging lenders to promote the stability of their conventional mortgages to help Indiana's
housing market rebound from a foreclosure crisis instigated by risky loans.
Indianapolis law firms raising rates again
Recession's over. Time for law firms to get cracking on raising rates again. As was the case before the recession, the
increases are outstripping inflation.
Finish Master profit slides
Recession aftermath continued taking a toll on sales of paint for auto repairs.
State unveils Web tools aimed to curb unemployment abuse
The Indiana Department of Workforce Development last year identified $3.9 million in unemployment fraud.
Consumers slowly show signs of springing back
A partial rebound in consumer confidence, a positive report on January home prices and an expected strong March from retailers
suggest Americans are cautiously perking up.
Trucking firms shift gears to weather long downturn
Logistics companies have found the last few years an unparalleled challenge. If it wasn’t higher fuel prices, it was softening
business in key sectors, such as the automotive industry. Fewer goods to move created overcapacity and softened rates.
Study: Heart attacks up when stocks are down
Duke University researchers found a link between how a key stock index performed and how many heart attacks were treated at
their North Carolina hospital.
Banking reforms may bite weakest institutions
Indiana banks soon might have to pay the state as much as $300 million in new fees for deposit insurance at a time the industry
is experiencing its deepest woes in decades.
Minority networking event set for April 25
“Staying Alive and Productive during Economic Hard Times” is the theme of the Indianapolis Professional Association’s seventh
annual networking luncheon. It will include a roundtable discussion of the economic state of local minority businesses and
organizations.
Many banks cutting dividends to merely a penny
Banks used to take pride in having long records of increasing dividends. Now, about all most can say is they still pay one.
Job searches dragging on a year later
Out of six professionals IBJ profiled a year ago, three have found jobs, although all have accepted lower pay than
they were getting before. One could not be reached, but she still lists herself as looking for work on LinkedIn.com. Two tried
to start their own businesses, with one giving up and one, Bruce Flanagan, still trying.
Weather blamed for unexpected rise in jobless claims
New claims for unemployment benefits jumped unexpectedly last week, mostly because state agencies processed a backlog of
claims caused by snowstorms the previous week.
Intellectual property practices in law firms recovering from recession
Practices are beginning to thaw along with other areas of the economy.
Go west (to Hendricks County)
The economy is as good or better in Hendricks County than anywhere else in the Indianapolis area.