Bankruptcy Indiana

We're entering the second week of the New Year, and, as I collect information for my Indiana bankruptcy clients and bankruptcy blog readers, I realize there's still a mix of good and bad news about jobs in our state. 

One very hopeful general statistic comes from the Indiana Economic Development Corporation, which is reporting that in 2009, 19, 349 new job commitments were made in Indiana. Despite this, there are still far too many people who need work.

Sometimes it seems we've been in this recession forever. I need to look back over my more than twenty years as an Indiana bankruptcy attorney and debt consolidation lawyer and remember better times.  What my work has taught me, though, is that the goal is not to have clients file bankruptcy, but to have them emerge from bankruptcy and rebuild their financial lives.  That's the whole point, as part of providing Indiana bankruptcy information, of my staying on top of employment news.  I need to help my readers and clients find and keep well-paid jobs and generate the income they need in order to make a fresh financial start after bankruptcy.

Hopeful news is coming out of Kokomo.  Delphi will be using an $89 million award from the Department of Energy to establish a new manufacturing operation in Kokomo for electric drive vehicles, expecting to add close to 200 new employees, including many engineers.
 

Further north, Worthington Industries, an Ohio-based company, is closing a metal framing plant in Illinois and moving the work to Hammond, Indiana. Also in Hammond, the Horseshoe Casino plans to hire close to 50 new workers.

Through the Mark Zuckerberg bankruptcy law offices in Anderson, I service 38 Indiana counties, including those north and east of Indianapolis, so the news about Delphi, Worthington Industries, and Horseshoe Casino represents job prospects for my Indiana bankruptcy clients and their families north of Indianapolis. 

Hopeful news comes from Connersville as well, where Carbon Motors has been planning to use the old Visteon plant to produce police cars, creating more than 1,000 jobs.  The site had been tied up in Visteon's bankruptcy proceedings, but now it looks as if the rehabilitation of the site will be able to go through.

On the not-so-good news end, there is a threat of our state's losing Navistar, which has been considering moving its Truck and Design Technology Center to Illinois from Fort Wayne.  1,000 or so Indiana jobs would be affected. The news from another northern Indiana city Mishawaka is definitely not good, as AM General is laying off 250 workers from the Humvee factory.

Another aspect to be considered in employment news is that dozens of small businesses will be affected by these developments in big business.  Layoffs in Mishawaka and Ft. Wayne could mean that the small businesses that are suppliers for these larger companies will be under financial pressure.  As a small business bankruptcy attorney and debt consolidation lawyer, I know these smaller firms need to be able to raise capital and to bring in enough income to hire the workers they need to grow.

It all comes back to the job markets, doesn't it?