Business

Friday’s business headlines

The latest business headlines

INDIANAPOLIS (WISH) – Here’s a look at Friday’s business headlines.

Steak ‘n’ Shake

Steak ‘N’ Shake is recognizing and supporting the thousands of people nationwide who are selflessly working jobs in designated services “essential services” who risk their lives to keep America running.

From now until April 7, the Indianapolis restaurant chain will give essential workers 20% off their meals.

This includes healthcare workers, custodians, police and fire departments, postal workers, delivery folks and others.

GM

GM temporarily cuts pay by 20% for 69,000 salaried workers amid the coronavirus pandemic.

The reduced pay, which began this week, will be repaid in a lump sum with interest no later than next March 15.

About 65,000 U.S. employees who cannot work from home will go on paid leave.

Ford

Ford will resume production next month of its most profitable vehicles.

To generate cash, the No. 2 U.S. automaker was poised to restart production at some plants in North America as early as April 6, bringing back such profitable vehicles as its top-selling F-150 full-sized pick up.

Ford also announced belt-tightening moves, including temporarily cutting salaries of top executives.

Eli Lilly

Eli Lilly and Company says rumors of insulin shortages are untrue.

It posted a statement on its website.

Mike Mason, president of Lilly Diabetes, said COVID-19 is an unprecedented challenge for all of us, but Lilly has planned for such events.

The company said as previously announced earlier this month, there remains no anticipated shortages of any of the drugmaker’s medicines including insulin.

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