Articles

First Financial gets sweet deal on Irwin Financial’s bank assets

It’s good to be among the favored few, those blessed by the Federal Deposit Insurance Corp. to scoop up the remnants
of failed banks. Because it was on the FDIC list of approved buyers, Cincinnati-based First Financial Bancorp
was able to acquire Columbus, Ind.-based Irwin Financial Corp.’s banking operations under terms
that would make any deal-maker proud.

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New jobless claims rise more than expected

The number of newly laid-off workers filing claims for jobless benefits rose more than expected last week, as employers remain
reluctant to hire even as the economy shows signs of recovery.

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Democrats eye insurance industry’s antitrust protection

Top Senate Democrats intend to try to strip the health insurance industry of its exemption from federal antitrust laws, according
to congressional officials, the latest evidence of a deepening struggle over President Barack Obama’s effort to overhaul the
health care industry.

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Lockheed Martin planning Indianapolis layoffs

Maryland-based Lockheed Martin will idle 10 percent of the employees at its Indianapolis call center as a result of declining call volumes and “funding issues” that are cutting short a five-year federal contract worth a total of $80 million.

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Biomass boilers could save Indiana prisons $36M

New biomass boilers at four Indiana prisons are projected to save the state $36 million over 10 years. The Indiana Department
of Correction says it dedicated the first of the new boilers last week at the Pendleton Correctional Facility northeast of
Indianapolis.

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Critics: Failed Indiana-IBM deal should warn others

Indiana said it was going to get outsourcing right when it turned welfare eligibility services over to a private contractor
in 2007. Now critics say the failed move is the latest warning that states should not allow for-profit companies to run social
services.

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Daniels expands youth conservation program

Gov. Mitch Daniels says a program that hires young adults to improve Indiana parks and trails has been so successful that
he’s extending it for another year. The Young Hoosiers Conservation Corps has given jobs to nearly 1,900 residents ages 16
to 24 since it was created this year using federal stimulus money.

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Consultant: Indianapolis water utility lax in overseeing Veolia

The city too often relied on the Department of Waterworks’ board, on consultants and on the private
operator, Veolia Water, rather than on the department’s own staff “to ensure safe and efficient
operation, maintenance and management” of Indianapolis Water. That’s one of several critical
findings of a consultant hired by the department and filed as part of a 35-percent rate-hike request
pending before the Indiana Utility Regulatory Commission.

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