Marvin Harrison’s reluctance to take a pay cut could mark the end of his career in Indianapolis. Colts president Bill Polian told reporters yesterday at the NFL’s annual scouting combine that the team was trying to rework Harrison’s deal to lower the receiver’s salary cap number from approximately $13.4 million, the highest number of any […]
Donna Sharp made a good living in Elkhart even without a high school diploma, earning about $19 an hour putting stripes on recreational vehicles in this northern Indiana county known as the RV capital of the world. Then Monaco Coach Corp. announced in July that it was closing the plant in Wakarusa where Sharp worked, […]
The Dow Jones industrial average tumbled to its lowest close in more than six years today as sharp declines in key financial shares led the market lower. The blue chips closed at their lowest level since Oct. 9, 2002, the last bear-market low. The Dow lost 89.68 points, or 1.2 percent, to end at 7,465.95. […]
A bill that would revoke the business licenses of companies that repeatedly hire illegal workers won unanimous support from a Senate committee yesterday. The committee took the unusual step of holding three separate meetings on the proposal – listening to supporters and opponents – before taking a vote. Sen. Mike Delph (R-Carmel) supports legislation to […]
The number of laid-off workers receiving unemployment benefits has jumped to an all-time high near 5 million while new jobless claims remain well above 600,000. Both figures were worse than expected and new projections from the Federal Reserve show unemployment rising for the rest of this year. The Labor Department reported today that the number […]
Mokulele Airlines yesterday said it made a $300,000 loan payment, staving off seizure of its assets and operations by business partner Republic Airways Holdings Inc. Mokulele had defaulted on an $8 million loan, and Indianapolis-based Republic said it would come in and operate Mokulele if the Hawaii carrier failed to make the payment by the […]
Two large health insurers, including a unit of WellPoint Inc., are being investigated for charging more than California-mandated rates for last-resort health coverage affecting some 19,000 people. Blue Shield of California charged premiums as much as 55 percent above the California cap, while policies of Anthem Blue Cross, a unit of Indianapolis-based WellPoint, have been […]
A bill that would revoke the business licenses of companies that repeatedly hire illegal workers won unanimous support from a Senate committee yesterday. The committee took the unusual step of holding three separate meetings on the proposal – listening to supporters and opponents – before taking a vote. Sen. Mike Delph (R-Carmel) supports legislation to […]
A month after federal officials expressed concern about changes at Indiana’s environmental agency, state officials will meet today with their federal counterparts to explain those changes and how they might affect environmental protection. Environmentalists fear the Indiana Department of Environmental Management’s recent move to dissolve its enforcement office, take over air monitoring contracts with six […]
Several local government reorganization proposals floundered at the Indiana Statehouse yesterday, as lawmakers resisted some of the vast changes proposed by Republican Gov. Mitch Daniels. The Senate Local Government Committee gutted a bill to eliminate township governments, instead voting 9-2 for a more modest measure that would leave townships intact but add a review of […]
The United Auto Workers’ deal with Detroit’s three automakers limits overtime, changes work rules, cuts lump-sum cash bonuses and gets rid of cost-of-living pay raises, people briefed on the agreement said today. The UAW announced yesterday that it reached the tentative agreement with General Motors Corp., Chrysler LLC and Ford Motor Co. over contract concessions, […]
Seeking to tackle “a crisis unlike any we’ve ever known,” President Barack Obama unveiled an ambitious $75 billion plan today to keep as many as 9 million Americans from losing their homes to foreclosure. Another key component would specifically help those said to be “under water” – with dwellings whose market value have sunk below […]
Dutchmen Manufacturing has laid off about 100 workers from a northern Indiana plant where it makes recreational vehicles. Dutchmen human resources director Suzanne Randall said the production and office workers at the Goshen plant were given notice on Friday and laid off the same day. They were not given severance packages. Randall blamed the layoffs […]
The Indiana Senate has passed a bill that could spur counties to revamp their local governments. The GOP-controlled Senate approved the proposal 30-19 yesterday, sending it to the Democrat-ruled House for consideration. Supporters of the bill say streamlining local government would make the system more efficient and responsive, but opponents don’t see a […]
General Motors and Chrysler said today that their request for federal aid ballooned to a staggering $39 billion – only months after they received billions in loans – in new plans that envision massive job losses and intense restructuring to survive a deepening recession. General Motors Corp. presented a survival plan that calls for […]
President Barack Obama put his own indelible imprint on the nation’s distressed economy today, signing the huge recovery package into law, readying a $50 billion proposal to help homeowners fend off foreclosure and awaiting emergency restructuring plans from flailing automakers. Obama said the sprawling legislation, which congressional Democrats pushed to passage last week over near-unanimous […]
An Italian company that makes wind turbines is pushing back plans to open a high-profile Indiana factory near Muncie. Brevini officials announced in October that production was expected to begin in mid-2010 at a $60 million plant that would bring 450 jobs averaging $46,000 a year to the area. But Brevini USA President Sal Spada […]
The Indiana Pacers are cutting prices for season-ticket renewals. Pacers Sports & Entertainment President Jim Morris said the changes for the 2009-10 season are being made because “our economy is in a difficult period.” He said the price reduction would affect all seating areas. Some balcony seats in the 18,165-seat Conseco Fieldhouse will go for […]
Changes to a bill in the Indiana House would completely exempt casinos from a proposed statewide smoking ban. Also approved yesterday were changes allowing nursing homes to designate areas where smoking is permitted and allowing communities to pass tougher restrictions even after the bill’s original deadline of 2010. The bill originally would have banned smoking […]
Political fighting in the Indiana House has delayed at least temporarily a vote on a bill to help fix the state’s depleted unemployment insurance fund. The bill would raise taxes on employers to help balance the fund, which currently pays out millions of dollars more than it collects while relying on federal loans to issue […]
