By BREE FOWLER AP Auto Writer NEW YORK A U.S. district judge said Tuesday that a legal review of Chrysler’s bankruptcy proceedings isn’t needed before a hearing on the sale of most of the automaker’s assets can take place. Judge Thomas Griesa denied a withdrawal motion from attorneys representing a pair of Indiana state pension […]
General Motors Corp. will give the United Auto Workers union 17.5 percent of its common stock, $6.5 billion of preferred shares and a $2.5 billion note to fund a trust that will take over retiree health care costs starting next year. The funding is part of a tentative agreement that union members will vote on […]
A Kansas company has secured leases for about half the land it needs for a 200-turbine wind farm in northwest Indiana. TradeWind Energy has leased 10,000 acres for its LaCrosse Farms project in southwestern LaPorte County. The company has been measuring wind conditions from two towers in LaCrosse for eight months. It needs three years […]
Illinois trucking giant Navistar International Corp. has received the go ahead for its $50 million purchase of bankrupt Oregon recreational vehicle manufacturer Monaco Coach Corp. A federal judge in Delaware approved the sale Friday after learning there were no other bidders for the assets of Monaco, which has RV plants in Oregon and Indiana. The […]
A state legislator faces a lawsuit over her role in hiring a company that provides software for property-tax calculations in central Indiana’s Clinton County. Rep. Jacque Clements has denied any wrongdoing in her work for the county. She was county auditor before her election to the Legislature last year and was a part-time deputy auditor […]
Talks between Delphi Corp. and members of President Barack Obama’s automotive task force continue in hopes of reaching a deal on a plan to lift the auto supplier out of bankruptcy protection before a crucial deadline passes. Normal 0 false false false MicrosoftInternetExplorer4 Delphi Attorney Jack Butler said today that the talks, which also include […]
The Minnesota Timberwolves have hired former Indiana Pacers executive David Kahn to run their basketball operations, four days after being rejected by Portland assistant general manager Tom Penn. The move was confirmed to The Associated Press today by a person with knowledge of the hire. The person spoke on condition of anonymity because an announcement […]
A bankruptcy judge yesterday denied a motion from a pair of Indiana state pension funds and a state construction fund to delay the proposed sale of most of Chrysler’s assets, saying the funds’ plan to challenge the legality of the sale in another court wasn’t enough of a reason to push back the proceedings. U.S. […]
The number of newly laid-off workers requesting unemployment insurance dropped slightly last week after spiking the week before due to auto layoffs. Meanwhille, continuing jobless claims inched closer to 7 million. The Labor Department said today that initial claims for jobless benefits fell to a seasonally adjusted 631,000, down from a revised figure of 643,000 […]
Normal 0 false false false MicrosoftInternetExplorer4 A property tax appeals board granted the city of Gary and four of its sister government units $23.5 million in budget relief from new state property tax caps yesterday. But the decision by the Distressed Unit Appeals Board still means the city, its sanitary and storm water districts, its […]
The Indiana high school football championships will remain at Lucas Oil Stadium at least three more years under a sponsorship agreement with the Indianapolis Colts announced yesterday. IHSAA commissioner Blake Ress said the money “will help reduce the ever-increasing expenses” in running the high school tournament. He said the Colts’ involvement also includes the sectional, […]
Police say the cost of security for President Barack Obama’s visit to the University of Notre Dame could reach $50,000. South Bend and St. Joseph County police officers worked overtime to provide security for the president’s commencement speech Sunday and to monitor protesters on the edge of campus. Police arrested 37 people on trespassing charges […]
The new law aimed at fixing Indiana’s bankrupt unemployment insurance fund doesn’t get the whole job done and employers likely will face higher federal taxes next year along with higher state taxes, a state oversight board was told yesterday. Chief Financial Officer Scott Sanders of the Indiana Department of Workforce Development told the Unemployment Insurance […]
A bankruptcy judge yesterday denied a motion from a pair of Indiana state pension funds and a state construction fund to delay the proposed sale of most of Chrysler’s assets, saying the funds’ plan to challenge the legality of the sale in another court wasn’t enough of a reason to push back the proceedings. Normal […]
Indiana’s treasurer won’t invest any more money in the corporate debt of companies receiving federal funds after state pensions were stung by millions of dollars in losses in the Chrysler LLC bankruptcy. Treasurer Richard Mourdock says the administration of President Obama changed long-standing investment rules in the bankruptcy proceedings, causing the Indiana State Police Pension […]
The candidate who nearly upset longtime Indiana Congressman Dan Burton in last year’s Republican primary is running against him again. John McGoff announced his candidacy today, becoming the third prominent Republican to launch a campaign to defeat Burton for the 5th Congressional District seat. McGoff is an Indianapolis physician and former Marion County coroner. Burton […]
Milwaukee-based Marshall & Ilsley Corp. said today it will sell up to $350 million of its common stock directly to the market and use the money for general corporate purposes. The bank, which has about 30 branches and 390 employees in the Indianapolis area, said it may also use some of the proceeds to repay […]
Indiana’s treasurer said he won’t invest more state money in the corporate debt of companies receiving federal cash after two funds he controls were stung by more than $1 million in combined losses in the Chrysler bankruptcy. Treasurer Richard Mourdock said today the Indiana State Police Pension Fund lost $147,400 and the Major Moves Construction […]
A new $3.1 billion price tag for the extension of Interstate 69 between Indianapolis and Evansville can be reduced by ignoring some federal rules, Indiana Gov. Mitch Daniels said. Speaking yesterday at a meeting of the Chamber of Commerce of Southwest Indiana in Evansville, Daniels said the latest Indiana Department of Transportation estimate could be […]
A new $3.1 billion price tag for the extension of Interstate 69 between Indianapolis and Evansville can be reduced by ignoring some federal rules, Indiana Gov. Mitch Daniels said.Speaking yesterday at a meeting of the Chamber of Commerce of Southwest Indiana in Evansville, Daniels said the latest Indiana Department of Transportation estimate could be trimmed […]
