Goshen News, Goshen, IN

Local News

December 30, 2013

Hot stock markets top story

It was an easy year to emulate Warren Buffett even as Congress almost wrecked the economy.

U.S. stocks rocketed to new heights, and markets in Japan and Europe jumped, too. The gains enriched investors and defied a still-subpar economic rebound from the Great Recession.

Budget fights closed much of the U.S. government for 16 days. Leaked classified documents showed that the National Security Agency collected private online communications via Internet companies. The disastrous rollout of President Barack Obama’s health care law confirmed fears of a bureaucratic train wreck.

Central banks embarked on a shopping spree. JPMorgan Chase paid a record $13 billion for its role in the housing bust. General Motors flashed signs of its old horsepower. A colossal merger for American Airlines and US Airways took flight. Twitter’s IPO recalled the dizzy dot.com era. And the heartbreaking deaths of 1,100 garment workers in Bangladesh showed that some overseas factories serving U.S. companies remain unsafe.

The stock market boom was chosen as the top business story of 2013 by business editors at The Associated Press. Washington’s gridlock and dysfunction came in second, followed by revelations involving the NSA.

Here are the top 10 business stories of 2013:

1. STOCK MARKETS SURGE: The Dow Jones industrial average set a record in March and hardly stopped to celebrate. The blue chip average has soared roughly 25 percent so far, its best performance in a decade. Stocks stand out as among the few areas of the economy to fully recover from the 2008 financial crisis.

The Federal Reserve’s bond purchases helped cut long-term interest rates, making stocks more alluring than bonds. Also, companies boosted share prices through an unusually large $751 billion in stock buybacks.

2. FEDERAL CHAOS: Congress nearly derailed the economy — not once but several times. Lawmakers allowed a Social Security tax cut to lapse after Jan. 1, which shrank Americans’ paychecks. Then they let deep federal spending cuts take effect in March because they couldn’t agree on a budget. The dysfunction peaked in October: Unable to pass a 2014 budget, Congress shut down part of the government for 16 days. National parks were closed. Federal employees stayed home.

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Local News
  • Mary Alice Miller SILVERTON, Ore. — Mary Alice Miller, born Aug. 9, 1950, near Topeka, LaGrange County, Ind., departed this life following a short illness Tuesday at her home near Silverton. Mary was baptized in her youth upon confession of her faith in Jesus Christ a

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  • Gene R. Lowther ELKHART — Gene R. Lowther, 75, died Tuesday at Golden Living Center. He married Mary M. Flynn March 27, 1970, in Elkhart. She survives with two sons, Michael (Pam) Estes and James Estes, both of Elkhart; and two daughters, Donna Estes of Elkhart and

    July 31, 2014

  • GN140801 jeffery hunt Warsaw man gets 120 years for home invasion

    GOSHEN — An elderly New Paris couple who were victims of a violent home invasion last fall recounted that frightening night during one of their attackers’ sentencing hearing.

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  • BIZ GN140801 eby ford image 02 Eby Ford renovates showroom and more GOSHEN — The remodeled and expanded Eby Ford, Lincoln, Mercury dealership was celebrated Thursday night during an open house and ribbon cutting. “Without our awesome customers, we wouldn’t be here,” said owner Todd Eby as he addressed the crowd of fr

    July 31, 2014 2 Photos

  • GN140801 Mackowiak new Millersburg marshal.jpg Retired Goshen police officer sworn in as new Millersburg town marshal

    Retired Goshen police officer Al Mackowiak was sworn in as Millersburg's new town marshal Wednesday.

    July 31, 2014 1 Photo

  • Wawasee Conservancy map Conservancy buys wetlands property at Syracuse Lake SYRACUSE — The Wawasee Area Conservancy Foundation has purchased 44 1/2 acres of property along the southeast corner of Syracuse Lake. It is adjacent to the CSX railroad tracks, East Shore Drive and Cornelius Road and includes the Bonar Lake wetlands

    July 31, 2014 1 Photo

  • GN140731 Habitat auction2.jpg Friday auction to benefit Habitat SHIPSHEWANA — On Friday, LaGrange County Habitat for Humanity will host its annual auction at Shipshewana Auction Barn.The auction begins at 3:30 p.m. and includes, among many other items, a five-piece bedroom suite, a white oak trestle table and a d

    July 31, 2014 1 Photo

  • City heads seek more employees GOSHEN — Like the 2014 budget, the city of Goshen’s proposed 2015 budget will include a number of requests for new personnel as department heads fight to maintain services amidst growing responsibilities and shrinking coffers.The Goshen City Council

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  • Rerouting for U.S. 33 lags behind GOSHEN — It looks like the city could start seeing some movement on the planned U.S. 33 rerouting project by as early as next month.That’s the word from Goshen Civil City Engineer Mary Cripe, who spoke on the subject during the annual Goshen City Cou

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  • School board OKs contract GOSHEN — The Board of Directors of the Goshen Community School Corp. approved the design-build contract with Ancon Construction of Goshen Wednesday.They approved $12.260 million for the Goshen Middle School piece of construction, said GCS Superintend

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Classes at Goshen Community Schools and St. John the Evangelist Catholic School will begin the 2014-15 school year on Thursday, Aug. 7. School corporations throughout the state have been trending toward earlier start dates the past few years. When do you think school should start?

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