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 […]
Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 A House committee approved a bill tonight to give temporary tax breaks to three Indiana casinos, including new ones at the state’s two pari-mutuel horse tracks. The House Ways and Means Committee voted 17-7 for a bill to give tax breaks on wagering revenue for […]
Elkhart County is getting some jobs, instead of losing them. Office chair manufacturer Izzy plans to expand its plant north of Middlebury in north-central Indiana, creating 85 new jobs over the next two years and boosting its annual payroll by $3.8 million, local officials said Saturday. “This announcement comes as a breath of fresh air […]
Union members who took part in weekend rallies across Indiana mixed complaints about the nation’s recent job losses with calls for consumers to “Buy American.” The workers rallied Saturday as part of union-sponsored “Rebuild America” events that came one day after Congress passed a $787 billion economic stimulus package that includes a “Buy American” clause. […]
It may sound like a nice problem for states – figuring out how to spend the billions in infrastructure funding they’ll receive as part of President Barack Obama’s economic stimulus plan. But the task is more complicated than it seems, as state officials try to set priorities while managing competing pressures from communities, watchdog groups […]
Union members who took part in weekend rallies across Indiana mixed complaints about the nation’s recent job losses with calls for consumers to “Buy American.” The workers rallied Saturday as part of union-sponsored “Rebuild America” events that came one day after Congress passed a $787 billion economic stimulus package that includes a “Buy American” clause. […]
Indiana’s recent stretch of mild winter weather has been a welcome break from the cold for most Hoosiers, but not for the state’s maple syrup makers. The warm conditions have slowed the flow of sap from maple trees tapped at two Vigo County parks as part of a February ritual to collect sap to be […]
Elkhart County is getting some jobs for a change, instead of losing them. Office chair manufacturer Izzy plans to expand its plant north of Middlebury in north-central Indiana, creating 85 new jobs over the next two years and boosting its annual payroll by $3.8 million, local officials said Saturday. “This announcement comes as a breath […]
Lawmakers are considering a bill that would eliminate township government in Indiana and shift duties such as poor relief to the county level. Dozens of township officials packed the Senate chambers yesterday to tout some of the services they provide: helping the needy pay their bills, maintaining cemeteries and handling weed control. Township government was […]
U.S. businesses slashed inventories in December by the biggest amount in seven years as they coped with plunging sales in a dismal holiday season. The Commerce Department reported today that inventories fell 1.3 percent in December, far worse than the 0.9 percent decline analysts expected. It was the largest cut since the record 1.5 percent […]
U.S. businesses slashed inventories in December by the biggest amount in seven years as they coped with plunging sales in a dismal holiday season. The Commerce Department reported today that inventories fell 1.3 percent in December, far worse than the 0.9 percent decline analysts expected. It was the largest cut since the record 1.5 percent […]
The Indianapolis Motor Speedway is cutting ticket prices for this summer’s Allstate 400 at the Brickyard NASCAR race. A limited number of seats in two sections of the backstretch will be sold for $45 each, a savings of $30. Speedway President Joie Chitwood says track officials decided to cut the ticket prices because of the […]
U.S. retail sales jumped 1 percent in January, reversing a six-month declining trend and defying economists’ expectations by posting the biggest increase in 14 months. The Commerce Department says January retail sales rose a percent from December after having fallen for six straight months. Wall Street economists surveyed by Thomson Reuters had expected January sales […]
The number of people requesting first-time unemployment benefits dropped slightly last week, but remained near a 26-year high as companies laid off thousands of workers amid a deepening recession. The Commerce Department said today that the number of initial jobless benefit claims dropped to a seasonally-adjusted 623,000, from an upwardly revised figure of 631,000 the […]
The Justice Department will investigate the proposed merger of ticketing giant Ticketmaster Entertainment Inc. with Live Nation Inc. to see if it would create an unfair monopoly in the ticket-selling business. Federal antitrust lawyers are “committed to vigorous enforcement of the merger antitrust laws and will conduct a thorough investigation,” Justice Department spokeswoman Gina Talamona […]
