Auto Industry

Durable goods orders suffer worst drop in three years

February 28, 2012
Associated Press
Businesses slashed spending on machinery and equipment in January after a tax break expired, pushing orders for long-lasting manufacturing goods down by the largest amount in three years.
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Auto town Kokomo on the mend, but bailout still divides

February 26, 2012
Associated Press
The U.S. auto industry and Kokomo have staged an amazing comeback. But the resurrection of U.S. automakers has done little to resolve a deep political divide over the bailout.
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Local manufacturer tapped for trade mission to Russia

February 9, 2012
Kathleen McLaughlin
Hoosier Gasket Corp. hopes to land more business in Russia, where a growing middle class and new financing options are fueling the automotive market.
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Toyota plans to add 400 jobs in southwest Indiana

February 8, 2012
 IBJ Staff and Bloomberg News
Toyota Motor Corp. said Wednesday afternoon it would add 400 jobs in Princeton after consolidating production of its Highlander mid-size SUV.
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Cummins posts record results for quarter, 2011

February 2, 2012
Kathleen McLaughlin
Columbus-based diesel engine maker Cummins Inc. reported record results for 2011, earning $1.85 billion on revenue of $18 billion.
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Toyota's Columbus plant named among magazine's top 10Restricted Content

January 21, 2012
 IBJ Staff
Industry Week will honor the Indiana factory and others from across the country at an April conference in Indianapolis.
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Southwest Indiana Toyota plant produces 3 millionth vehicle

January 18, 2012
Associated Press
Workers at a Toyota Motor Corp. plant in southwestern Indiana are celebrating the plant's production of its 3 millionth vehicle.
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Honda to build new Acura model in Indiana

January 10, 2012
Associated Press
Honda Motor Co. unveiled a trio of new vehicles Monday, including an entry-level car for the Acura brand that will be built in Greensburg.
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Northern Indiana RV maker to add up to 250 jobs

December 28, 2011
 IBJ Staff
The company plans to invest $3.9 million to buy land and construct a 93,000-square-foot facility adjacent to its existing 45-acre campus in the town of Topeka.
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GM to idle Fort Wayne plant for nine weeks

December 24, 2011
Bloomberg News
General Motors Co., preparing to introduce new pickups in 2013, has scheduled 21 weeks without production at three U.S. full-size truck plants next year to update the factories for building the new models.
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Honda reworking Civic in plan to boost sales

December 21, 2011
Bloomberg News
Honda Motor Co. is sprucing up its Indiana-made Civic sedan, which received poor ratings, after less than a year on the market as part of a plan to boost U.S. sales by 24 percent in 2012 for its namesake brand.
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Honda has high hopes for new Acura model made in Indiana

December 12, 2011
Bloomberg News
Honda Motor Co., seeking to revive its Acura luxury brand, is introducing a sedan intended for younger buyers unable to afford higher-end autos.
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Kokomo upshifting with Chrysler investmentRestricted Content

December 3, 2011
Kathleen McLaughlin
City north of Indianapolis feels the power of $1.3 billion upgrade of equipment in automaker's transmission plants.
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Black Friday boosts car sales to best rate since ‘Clunkers’

November 30, 2011
Bloomberg News
U.S. consumers, who set records for retail purchases during Thanksgiving weekend, helped boost U.S. auto sales in November to what is likely to be their fastest pace in more than two years.
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RV industry on slow road to recovery in 2011

November 29, 2011
Associated Press
The recession-dented RV industry pointed Tuesday to modest gains atop last year's turnaround performance as another sign that the sector is on a slow road to recovery.
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Honda's U.S. plants to resume normal output

November 28, 2011
Bloomberg News
Honda Motor Co. said six plants in the U.S. and Canada will reach normal production levels on Dec. 1 after having to adjust output this month because of floods in Thailand.
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Struggling Ener1 receives $4.5M from investor

November 23, 2011
The parent of Indianapolis-based advanced-battery maker EnerDel received the financing to continue operating while the company evaluates its options to reorganize debt.
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Allison Transmission still chasing initial public offering

November 10, 2011
Allison Transmission Inc. hasn't given up on going public, despite nearly eight months passing since its initial filing with the Securities and Exchange Commission.
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NASCAR deal comes at good time for C&R RacingRestricted Content

November 5, 2011
Anthony Schoettle
The company will lose $2 million next year in IndyCar-related business, but company founder Chris Paulsen has no fear.
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Honda to cut U.S., Canada production by half

October 31, 2011
Associated Press
Parts shortages from three months of catastrophic flooding in Thailand have forced Honda to cut U.S. and Canadian factory production by 50 percent for the second time this year. Honda, which employs 2,000 in Greensburg, said it will not lay off any workers.
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Confident automakers adding factory workers

October 28, 2011
Bloomberg News
Plants in Indiana and other states are slowly expanding as car companies foresee improved sales due to pent-up demand, population growth and an aging vehicle fleet.
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NASDAQ set to remove EnerDel parent from exchange

October 26, 2011
 IBJ Staff
New York-based Ener1 said in a filing Tuesday with the Securities and Exchange Commission that it would be suspended from the NASDAQ exchange starting Thursday due to non-compliance with filing requirements.
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Cummins Inc. profit soars on huge growth in sales

October 25, 2011
 IBJ Staff
Cummins Inc. reported a 60-percent increase in third-quarter profit as revenue soared 36 percent over the same quarter a year ago.
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Honda undeterred by tepid Civic sales, reviewsRestricted Content

October 22, 2011
Through September of this year, Civic sales were 167,384, down 15.5 percent from the 198,272 sold by the same point last year.
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Chrysler workers in Indiana approve contract

October 19, 2011
Associated Press
Workers at Chrysler's largest United Auto Workers local, Local 685 in Kokomo, have voted in favor of a new four-year contract.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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