Governor Mitch Daniels is calling on all public employees in the state to consider skipping a pay raise in 2009. He says the move would take pressure off schools and local governments and show "solidarity" with employees in the private sector, where pay increases next year are expected to be "few and far between." The state says each one percent across the board pay raise for state and local employees works out to approximately $130 million a year.
Horizon decides to participate in federal program
Michigan City-based Horizon Bancorp has received a $25 million investment as part of the $700 billion financial rescue package. The company says it received the investment on December 19. President and Chief Executive Officer Craig Dwight says the bank thoughtfully considered the program before accepting the money. He says Horizon is healthy, but the program will allow the bank to reach out to new and existing customers who are seeking loans.
Application process underway for work place safety awards
Nominations are being accepted for the 2009 Governor's Workplace Safety Awards, which recognize the most innovative safety and health initiatives among Indiana's workplaces. Awards are offered in four categories: innovations, partnerships, education and outreach and construction. The awards are open to all organizations, regardless of size or number of workers, and will be presented on February 25 in Indianapolis.
UAW director: "I firmly believe these companies will turn around"
The Director of United Auto Workers Region 3, which includes Indiana, is convinced the U.S. automakers will repay "every dime they borrowed to the taxpayers with interest." Mo Davison tells Inside INdiana Business the union is ready to help make the auto companies viable for the future. He says the $17.4 billion emergency loan package should keep General Motors Corp. (NYSE: GM) and Chrysler LLC operating at least through the first quarter of next year.
Purdue halts merit bonuses
Purdue University has unveiled a strategic plan to reduce operational costs. The university says it is suspending its special merit bonus program, which had been scheduled for distribution in January. Officials say the move will save approximately $3 million. Purdue says it is also examining all open positions to determine if they should be filled and directing all departments to plan for strategic budget adjustments. Indiana University's president recently announced plans to freeze salaries for senior administrators.
Ball State announces cost-saving steps
Ball State University says it will defer filling vacant positions as part of a series of cost-saving measures it is implementing in response to the difficult economy. Controller William McCune says the university remains financially strong, noting increases in net assets, grants and private gifts. However, Treasurer Thomas Kinghorn says Ball State must be prepared to make adjustments as it faces possible reductions in state allocations.
Cities highlight items for possible federal infrastructure package
Leaders from at least 20 Indiana cities have submitted lists of proposed infrastructure projects that could be funded by a federal stimulus package. The U.S. Conference of Mayors says the projects are "ready-to-go," which means they could be started and completed within two calendar years. Items include airport improvements in Gary and Fort Wayne along with housing and public safely initiatives in Evansville. Indianapolis leaders have listed several items including green building seed money.
