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Signs of a weakening housing market
Major banks reveal the country's housing market appears to be weakening. Banks begin sustaining losses as a result of the impending sub-prime mortgage crisis -
Financial crisis begins
Lehman Brothers' files for bankruptcy protection, while Bank of America takes over Merill Lynch amid an imploding financial services market. -
Government bailout
Congress passes $700bn bailout plan for several of the country's largest banks. -
Interest rates cut
Hoping to quell a deepening recession, the Fed cuts interest rates to .25 percent. -
Layoffs in Elkhart, Ind.
Major RV producers annouce 600 layoffs from Elkhart, Ind., plants. Elkhart's unemployment rate would grow to 17.7 percent earlier this year -- the higest in the nation. -
Federal stimulus passed
Congess passes $787bn stiumulus package, with a focus on funding projects to improve the country's infrastrucutre and public services. -
Layoffs at Caterpillar
In Layfayette, Caterpillar annouces it will eliminate 439 job as sales of heavy machinery dwindle. -
Unemployment rising
Indiana's unemployment rate reaches 10.6 percent -- nearly a point higher than the national average. As the federal stimulus began to take effect, that rate began to ease. -
GE Plant lays off 164 workers
In Bloomington, longtime GE plant annoucnes it will continue to reduce the size of its Indiana workforce.
