I collect statistics, but it’s no hobby. In order for me to offer the best and most up-to-date advice to my Indiana bankruptcy clients, I must know what their opportunities will be to keep – or find – well-paid employment. During the period of the bankruptcy, my Chapter 13 bankruptcy clients will need to keep up regular payments over a three to five year period of time. My Chapter 7 bankruptcy clients will need to get back on their feet financially and keep all the bills paid on time. With bankruptcy law offices serving 38 different Indiana counties, I’m always alert for news of hiring, layoffs, plant closings, and plant construction.
The month of July in general was not a good month for our state. The U.S. Department of Labor says Indiana lost 16,500 jobs that month, third worst after Florida and Georgia. The Hoosier bankruptcy clients I serve out of Columbus could be affected by the layoff of fifty employees by Batesville-based Hill-Rom. Post-bankruptcy clients served by my bankruptcy law offices in Anderson could find news (both good and bad) about Delphi Corporation in Kokomo important. Delphi will be cutting labor costs by 25% overall, and its Kokomo facility could be hard hit. On the positive side, Delphi is revising its bankruptcy plan and the company is not going to be liquidated. Some very good news for clients in the Anderson area is the announcement that Nestle is adding 135 jobs. And in nearby Noblesville, there’s very good news from Energel. The manufacturer of batteries for hybrid and electric cars expects to add 850 jobs over the next four years, with most of those in Noblesville.
As I stressed in earlier bankruptcy blogs, (see Super Rich Or Bankrupt – You Could Be Anybody), there are quite a number of factors that contribute to financial problems leading to bankruptcy, and quite a number of factors that contribute to the rebuilding process after bankruptcy. The bankruptcy system is itself designed to serve as a safety net and a help in that rebuilding process. WIthout question, though, the availability of steady, well-paying jobs is key to people getting back on their feet.