Bernard Madoff has been sentenced to 150 years in prison for his multibillion-dollar fraud scheme. U.S. District Judge Denny Chin handed down the sentence in New York this morning.Prior to his sentencing, Madoff apologized and said he “will live with this pain, this torment, for the rest of my life.” Before the apology, numerous victims […]
The U.S. Supreme Court has ruled that white firefighters in New Haven, Conn., were unfairly denied promotions because of their race, reversing a decision that high court nominee Sonia Sotomayor endorsed as an appeals court judge. New Haven was wrong to scrap a promotion exam because no African-Americans and only two Hispanic firefighters were likely […]
Indiana legislative leaders are back at the Statehouse today as they seek a budget agreement before the current budget expires at the end of tomorrow. House Speaker Patrick Bauer says he and fellow Democrats may be willing to accept a two-year budget instead of the one-year spending plan they previously proposed. But Bauer said today […]
Opening ceremonies are being held today for a new $336 million casino in southeastern Indiana. The new Hollywood Casino on the Ohio River at Lawrenceburg opened up to its first gamblers on Thursday, replacing the 13-year-old Argosy Casino. The new boat is more than twice the size of previous one and has about 4,400 gambling […]
Indiana University will tap into its savings account to keep classes running if lawmakers don’t pass a state budget by tomorrow and state government shuts down. IU officials say the school has $200 million to $300 million in cash reserves that it can use to continue operations in July and August if necessary. The university […]
Indianapolis Mayor Greg Ballard has revised his plan to help the city’s struggling stadium agency out of a projected $47 million deficit for next year. The new proposal to rescue the Capital Improvement Board is similar to others brought to the Indiana Legislature, only this one does not include an additional $13 million in spending […]
The first round of budget negotiations between Democratic and Republican lawmakers got off to a slow start yesterday with less than a week to go before Indiana’s current spending plan expires. Democrats who lead the House and Republicans who control the Senate touched on a few differences in their budget plans during a public conference […]
Indiana House and Senate fiscal leaders are set to begin serious negotiations on a new state budget. Senate Republicans passed their version of a budget yesterday, setting the stage for House-Senate conference committee negotiations to begin during a public meeting today. House Ways and Means Chairman William Crawford says he hopes the committee will work […]
Orders to U.S. factories for big-ticket manufactured goods rose sharply for a second straight month in May, and a key indicator of business investment surged by the largest amount in nearly five years.The Commerce Department said today that demand for durable goods rose 1.8 percent last month, far better than the 0.6-percent decline that economists […]
Orders to U.S. factories for big-ticket manufactured goods rose sharply for a second straight month in May, and a key indicator of business investment surged by the largest amount in nearly five years. The Commerce Department said today that demand for durable goods rose 1.8 percent last month, far better than the 0.6-percent decline that […]
Budget hotel chain Red Roof Inn Inc. has defaulted on $361.4 million of mortgage debt, a rating agency that tracks mortgage defaults said yesterday.The hotel chain fell 30 days delinquent on four securitized loans for which the collateral was 131 Red Roof properties, said Frank A. Innaurato, managing director of Realpoint LLC, a debt rating […]
First-time homebuyers continued to help buoy sales of previously occupied homes in the Midwest last month but not enough to offset continued concern over the unstable economy, according to two reports released yesterday. Overall sales in the Midwest fell 8.5 percent from a year ago, the National Association of Realtors said, and the median sales […]
Indiana House and Senate fiscal leaders are set to begin serious negotiations on a new state budget. Senate Republicans passed their version of a budget yesterday, setting the stage for House-Senate conference committee negotiations to begin during a public meeting scheduled for this morning. House Ways and Means Chairman William Crawford says he hopes the […]
Republic Airways Holdings said today it will buy struggling Midwest Airlines for $31 million in cash and debt, the second time in two days it has sought to rescue an ailing airline. Yesterday, Republic said it would bid $108.8 million to take Frontier Airlines out of bankruptcy. Republic Chairman and CEO Bryan Bedford said he […]
Kokomo Mayor Greg Goodnight will travel to Italy next month for meetings with executives of Fiat Group, which now controls Chrysler and its four factories in his city. A city spokesman said Goodnight expects two days of meetings with Fiat executives and hopes to meet with other businesses during the trip July 12-18. Chrysler had […]
The Indiana Senate has approved legislation that would keep state government running if lawmakers don’t enact a new budget by the time the current spending plan expires at the end of the month. The bill approved today would allow the administration of Republican Gov. Mitch Daniels to continue spending at current levels if the new […]
Republicans who control the Indiana Senate are poised to pass their version of a new state budget bill. The two-year spending plan cleared the amendment stage yesterday and was eligible for passage today. Passage would set up a showdown with the Democrat-led House on trying to strike a deal before Indiana’s current spending plan expires […]
Sales of previously occupied homes rose modestly from April to May, the third monthly increase this year, but signs of a housing recovery are fragile at best.The National Association of Realtors said today that home sales rose 2.4 percent last month to a seasonally adjusted annual rate of 4.77 million, from a downwardly revised pace […]
Shares of steel manufacturers fell sharply yesterday as the World Bank cut its 2009 global growth forecast, saying the world economy will shrink by 2.9 percent.Fort Wayne-based Steel Dynamics Inc., Indiana’s fifth largest company, was among those who felt the impact. Its shares fell $1.65, or 10.7 percent, to $13.79 yesterday. Pittsburgh-based United States Steel […]
Republicans who control the Indiana Senate are poised to pass their version of a new state budget bill. The two-year spending plan cleared the amendment stage yesterday and was eligible for passage today. Passage would set up a showdown with the Democrat-led House on trying to strike a deal before Indiana’s current spending plan expires […]
