Business | Journal Gazette

Ranks of jobless up in area’s counties

Marty Schladen — Sat, 21 Nov 2009 03:00:00 EST

Unemployment was mostly up in the 11 counties of northeast Indiana in October, according to statistics the Indiana Department of Workforce Development released Friday.

Fighting cap-and-trade law

Sherry Slater — Sat, 21 Nov 2009 03:00:00 EST

Charlie Smith runs a company in Indianapolis that refines oil from a deposit that stretches from Illinois into Indiana and Kentucky.

McDonald's facelift

KAREN MATTHEWS — Sat, 21 Nov 2009 03:00:00 EST

Danish Modern furniture. Flat-screen TVs. Free Wi-Fi. You want fries with that.

French company delaying NBC sale

DEBORAH YAO and GREG KELLER — Sat, 21 Nov 2009 03:00:00 EST

A deal for Comcast Corp. to buy a controlling stake in NBC Universal and create one of the most powerful media companies in the world is taking longer than expected as the current owners tussle over price.

IPOs point to sustained comeback

News services — Sat, 21 Nov 2009 03:00:00 EST

The flurry of initial public offerings this week is confirmation that this fall's rebound in the market wasn't a fluke and sets the stage for more companies to raise money through IPOs in 2010.

St. Joseph appoints CEO

Marty Schladen — Fri, 20 Nov 2009 03:00:00 EST

St. Joseph Hospital has named a new chief executive. Dawn Rudolph, chief operating officer of Dupont Hospital, will take the reins at St. Joseph on Dec. 1. St. Joseph and Dupont are part of the Lutheran Health Network.

Most area counties still in double-digit unemployment, state says

The Journal Gazette — Fri, 20 Nov 2009 10:49:00 EST

Indiana's preliminary seasonally adjusted unemployment rate showed little change in October, with most northeast Indiana counties still in double digits, the Indiana Department of Workforce Development reported Friday.

State OKs plans for heating aid

Angela Mapes Turner — Fri, 20 Nov 2009 03:00:00 EST

The state agency regulating Indiana's natural gas utilities Thursday approved several low-income heating assistance programs but said the utility companies should contribute more dollars.

Posey Shoppe closing

Sherry Slater — Fri, 20 Nov 2009 03:00:00 EST

Business has wilted at The Posey Shoppe. So the 70-year-old local floral and home decor store launched a going-out-of-business sale Thursday. Several factors contributed to the decision, co-owner Rhonda Dennon said. For one thing, receipts are 30 percent to 40 percent less than this time last year.

County getting medical supplier

Sherry Slater — Fri, 20 Nov 2009 03:00:00 EST

A LaOtto medical equipment provider said Thursday it will invest $1.6 million to relocate to Allen County in 2012.

AOL offers buyouts for 2,500 jobs

Staff, news services — Fri, 20 Nov 2009 03:00:00 EST

The struggling Internet company AOL plans to shed up to 2,500 jobs - more than a third of its workforce - as it prepares to separate from Time Warner and finally sever their ill-fated marriage.

Stock futures point to modestly lower opening

STEPHEN BERNARD — Fri, 20 Nov 2009 07:05:00 EST

Stocks are set to continue their slide when the market opens Friday as the dollar strengthens further, and after a week of mixed economic reports. Futures are modestly lower.

Oil moves down near $77 amid economic uncertainty

BARRY HATTON — Fri, 20 Nov 2009 06:55:00 EST

Oil prices edged down toward $77 a barrel on Friday after a drop in many stock markets and amid concern about the strength of the global economic recovery.

Euro higher to $1.4913 in European morning trade

Associated Press — Fri, 20 Nov 2009 06:58:00 EST

The euro rose against the dollar Friday after reports out of the U.S. on employment and housing raised further fears that the economy would continue to be weak into 2010.

Recovery here; jobs aren't

Marty Schladen — Thu, 19 Nov 2009 03:00:00 EST

To economists, Indiana and the rest of the country will continue to emerge from recession in 2010. But most of us can be forgiven if we don't feel that way.

Medical equipment firm moving HQ to Allen County

The Journal Gazette — Thu, 19 Nov 2009 06:57:00 EST

Maxim said it will invest $1.6 million and create 51 new jobs in the county.

Home building slows upturn

ALAN ZIBEL and MARTIN CRUTSINGER — Thu, 19 Nov 2009 03:00:00 EST

The budding economic recovery isn't getting much help from the home-building industry, which typically creates jobs and drives growth when a recession ends.

Ohio GM foundry has a new boss

Staff, news services — Thu, 19 Nov 2009 03:00:00 EST

General Motors Co. on Wednesday named a new plant manager for its Defiance, Ohio, foundry. Thomas A. Gallagher III replaces John Thomas on Jan. 1. Thomas is retiring, and Gallagher, a graduate of Purdue University, is moving to Defiance from the GM Baltimore Transmission Plant in Maryland.

Hershey in mix as a Cadbury suitor?

MARC LEVY — Thu, 19 Nov 2009 03:00:00 EST

Hershey, hoping to expand its overseas presence, has lined up a potential partner as the most recognizable name in American chocolate considers starting a bidding war for British candy maker Cadbury PLC.

MIXED RESULTS

Marty Schladen — Wed, 18 Nov 2009 03:00:00 EST

A panel of Indiana's leading economists might have been right last November when it said the recession would end the following summer. But it underestimated the depth of the slump and the toll it would take on Indiana workers.

Indiana, Ohio to share in $4 million 'green' grant

Sylvia A. Smith — Wed, 18 Nov 2009 13:46:00 EST

WASHINGTON – Indiana and Ohio will share in a $4 million grant to help displaced auto workers get jobs in renewable-energy and other green industries.

Ford leads in '10 safety awards

KEN THOMAS — Wed, 18 Nov 2009 03:00:00 EST

Ford, Subaru and Volkswagen sit atop the insurance industry's annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms.

Inflation, production in doldrums

News services — Wed, 18 Nov 2009 03:00:00 EST

A decline in factory production in October signals that consumers and businesses remain cautious in their spending, with the economic recovery likely to be sluggish.

Ford, Subaru, VW win insurance industry picks

KEN THOMAS — Wed, 18 Nov 2009 05:08:00 EST

WASHINGTON - Ford, Subaru and Volkswagen sit atop the insurance industry's annual list of the safest new vehicles, according to a closely watched assessment used by car companies to lure safety-conscious consumers to showrooms.

World stock markets awaiting key U.S. data

PAN PYLAS — Wed, 18 Nov 2009 07:17:00 EST

European stock markets rose modestly Wednesday after a mixed session in Asia as investors looked for renewed direction from key U.S. economic figures on inflation and housing due for release later in the day.

Oil above $79 after U.S. crude supply drop

ALEX KENNEDY — Wed, 18 Nov 2009 07:23:00 EST

Oil prices extended gains above $79 a barrel Wednesday in Asia after an unexpected drop in U.S. crude supplies suggested demand could be improving.

Euro higher at $1.4905 in European morning trade

Associated Press — Wed, 18 Nov 2009 07:26:00 EST

The euro was higher against the dollar Wednesday despite calls from central bankers for a stronger U.S. currency. Meanwhile, Asian markets were mixed following recent advances as investors took profits, and commodity prices like gold and oil rose, partly on dollar weakness.

Local packaging plant sold, to add jobs

Marty Schladen — Tue, 17 Nov 2009 03:00:00 EST

A company that owns a Fort Wayne packaging plant has been sold, and its new owner says it plans to add jobs.

GM whittles quarterly loss

TOM KRISHER and DEE-ANN DURBIN — Tue, 17 Nov 2009 03:00:00 EST

General Motors Co. said Monday it lost $1.2 billion from the time it left bankruptcy protection through Sept. 30, far better than it has reported in previous quarters and a sign that the auto giant is starting to turn around its business.

Auto sector boosts retail sales

MARTIN CRUTSINGER — Tue, 17 Nov 2009 03:00:00 EST

Retail sales rose more than expected in October largely from a big rebound in auto sales. But broader consumer spending remains under pressure, raising questions about the durability of the recovery.

Coalition pushes for electric cars

Staff, news services — Tue, 17 Nov 2009 03:00:00 EST

A group of businessmen Monday launched a coalition to urge the federal government to make a major investment in electric transportation, pointing to electric cars as the best way to confront the nation's dependence on imported oil.

Stock futures point to modestly lower open

STEPHEN BERNARD — Tue, 17 Nov 2009 06:58:00 EST

Stock futures are pointing to a modestly lower opening Tuesday as investors sort through another round of economic data and retail earnings.

Oil hovers below $79 amid strong Asian demand

ALEX KENNEDY — Tue, 17 Nov 2009 07:03:00 EST

Oil prices hovered below $79 a barrel Tuesday in Asia as investors look to crude demand growth in Asia next year to offset a sluggish U.S. economy.

Euro lower at $1.4962 in early European trade

Associated Press — Tue, 17 Nov 2009 07:06:00 EST

The euro was lower against the dollar Tuesday despite assurances from the U.S. Federal Reserve that it would keep interest rates low for some time.