Bankruptcy Indiana

  It's pretty obvious that this Indiana lawyer for bankruptcy isn't the only one keenly interested in news about Indiana job markets. In addition to the different companies hiring workers that I talked about in yesterday's Bankruptcy in Indiana, there are two  really big struggles going on to keep large numbers of manufacturing jobs from leaving the state.

One of these struggles is happening in Ft. Wayne. Yesterday I wrote about the Vera Bradley company hiring, causing three other sewing companies to downsize, and about the X-Y takeover of Global Tool, causing layoffs.

Now an even bigger issue is on the table: Navistar is considering moving its truck design and technology center to Alabama or North Carolina.  Were Navistar to relocate, Indiana could lose 1,000 jobs. A consulting firm has been brought in to try to negotiate a deal to keep the center in Indiana.  Since, as a debt consolidation lawyer offering bankruptcy services in Indiana, I have one of the Zuckerberg bankruptcy law offices located in Anderson, Navistar's decision could have an effect on clients who are emerging from personal bankruptcy in Indiana who need those jobs.

The second, even bigger, struggle relates to the General Motors Co. stamping plant in Indianapolis.  The proposed sale of the plant to JD Norman is being held up while union members debate whether to agree to the offer or not. The big issue is wage concessions, with the Detroit-based UAW willing to discuss some concessions and the local union members refusing.  GM decided back in 2007 that, unless the plant was bought by 2011, it would be closed. According to the Indianapolis Star (July 2, 2010), losing that plant would hit Indianapolis hard through the loss of more than $2,000,000 in property taxes and workers' county income, taxes.

As a long-time bankruptcy attorney in Indiana, I'm even more worried about the workers themselves.  As I've been saying all along, people can file individual bankruptcy in Indiana, but it is almost impossible for them to successfully emerge from bankruptcy without well-paid jobs. Even if debts have been discharged through bankruptcy, and even if harassment by creditors has been halted by bankruptcy's automatic stay, it remains true that post-bankruptcy clients need to get their finances back on track, and that takes income.

In the longer term, things do look brighter.  Inside Indiana shares reports from the Indiana Economic Development Corporation (IEDC) that 93 new decisions have been secured for companies to locate plants and branches within Indiana, and to hire close to 14,000 new workers.

That can't  happen fast enough for this bankruptcy attorney in Indiana!