Indiana is the only creditor to file an objection with the bankruptcy court handling the Chrysler LLC proceedings. State Treasurer Richard Mourdock says the filing is on the behalf of the Indiana State Police Pension Trust, Indiana State Teachers' Retirement Fund and the Major Moves Construction Fund. He says the proposed restructuring seeks to pay billions of dollars to unsecured Chrysler creditors, while paying secured creditors only 29 cents on the dollar. Mourdock says the state can't allow its "retired police officers and teachers to be ripped off by the federal government."
UIndy expert: Chrysler case could destroy capital markets
A financial expert from the University of Indianapolis believes the state of Indiana's challenge to the Chrysler LLC bankruptcy will have ramifications throughout all economic sectors. Associate Professor of Finance Matt Will says Chrysler's plan "disrupts 100 years of bankruptcy law" by paying secured creditors just 29 cents on the dollar, much less than unsecured creditors. Will adds Indiana stands to lose $30 million in investments under the bankruptcy plan.
Report: Indiana lags in science education
A new report <<a href="http://www.bio.org/local/battelle2009/IN_bio_09.pdf">http://www.bio.org/local/battelle2009/IN_bio_09.pdf>; shows states across the country, including Indiana, are failing to prepare students for pursuing biosciences in higher education. The first ever study of middle- and high-school bioscience education, being released this afternoon at BIO's annual convention in Atlanta, gives Indiana a fair grade. The report also finds a wide disparity across measures of student achievement in overall science and biosciences, an uneven record in incorporating the biosciences in state science standards and ensuring science and bioscience teachers are well qualified.
Study: IU Has $4.6 billion impact
A new study from the Indiana Business Research Center at Indiana University's Kelley School of Business suggests 81 percent of in-state residents who graduated from the university between 2002 and 2005 still live in Indiana. The IBRC economic impact study suggests the total "economic footprint" of IU on the state amounts to $4.6 billion annually. The research also estimates the value of IU's civic contributions at nearly $16 million.
New regional group launched for manufacturing sector
A new regional organization has been formed to support the manufacturing environment in southwest Indiana. The Tri-State Manufacturers' Alliance will include corporate entities such as Alcoa, Toyota and Wabash Plastics. It will be chaired by Dave Conner, chief financial officer at Anchor Industries.
