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Three firms involved in Churubusco real estate filed Friday for Chapter 11 bankruptcy protection. All are run by Larry Smith, who is listed in court filings as vice president of the firms.
Smith said two of the firms, Laotto Properties LLC and Northeast Indiana Merry-Go-Round LLC, own manufacturing plants that are now vacant and not generating rent. Court filings listed the debt for each of the companies at between $1 million and $10 million, but Smith declined to give the exact amount.
The third firm, Parakletos Development LLC, owns land, Smith said. It was listed as owing $500,000 to $1 million.
Smith said slow land sales and sluggish manufacturing caused the debts. “Everybody’s going to get paid. We just need some time,” he said.
Friday’s filings won’t affect Smith’s other business, Parakletos Real Estate Inc., he said.
Some of the 130 workers who lost jobs in May when Berne Furniture Co. closed are eligible for federal assistance, the Indiana Department of Workforce Development announced Friday.
The assistance is available under a federal ruling last month providing assistance to workers who lose their jobs to foreign imports or because their jobs moved overseas.
They are eligible for job-search assistance, relocation allowances and payments after unemployment benefits are exhausted. Older workers who find new, lower-paying jobs can have that pay supplemented by the government.
More information is available at the Adams County WorkOne Center at 126 S. First St. in Decatur or on the Internet at WorkOneWorks.com/.
Chevron on Friday reported the largest quarterly profit in its 129-year corporate history, joining other oil companies reporting stunning third-quarter gains.
San Ramon, Calif.-based Chevron Corp. capped off a string of astounding quarterly profit reports from the world’s major oil companies, including another U.S. corporate profit record for Exxon Mobil Corp.
Chevron earned $7.89 billion in the third quarter, more than double the $3.72 billion profit of a year earlier. Revenue shot up 43 percent to $78.87 billion from $55.2 billion.
The U.S. Postal Service has unveiled new domestic and international postal money order designs with security measures to deter fraud.
The redesigned money orders, announced Thursday, feature watermark images of Benjamin Franklin and a multicolored thread woven into the paper.
Domestic money orders for up to $1,000 are available at all post office locations for a fee of a little more than $1. International money orders for 30 countries are available for up to $700 in value for a $3.85 fee.
A new CVS pharmacy is slated to open next summer on Fort Wayne’s west side, the company’s eighth in the city.
Construction on the 13,000-square-foot pharmacy at Indiana 14 and Scott Road (10170 W. Indiana 14) is expected to begin in the first quarter of 2009. The company declined to disclose the cost of the store, but a building permit listed the project at $1.1 million.
