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Columbus diesel engine maker Cummins Inc. today said the slowing economy has forced it to revise its 2008 outlook downward. Sales will rise 9 percent rather than the previous guidance of 12 percent, and profit will increase 9 percent instead of 10 percent. Most of the declines are coming in its engine and components businesses, […]

Profit plummeted 40 percent for Hurco Cos. Inc. in its fourth fiscal quarter, the Indianapolis machine tool maker reported today. The decline to $3.4 million in the period ended Oct. 31 was caused by the slumping global economy, Hurco said. Sales edged up slightly in Europe, but fell in North America and dropped by more […]

Daphne Clark, whose roles at WellPoint Inc. have included serving as chief of staff to CEO Angela Braly, has been tapped to direct the Medical Technology Leadership Forum. The forum is the not-for-profit think tank that’s moving this month from Minneapolis to the Indiana University Research and Technology Corp. campus on Indianapolis’ downtown canal. From […]

Truck trailer manufacturer Wabash National Corp. announced today that it will lay off 800 employees at its Lafayette plant with the intent of calling them back to work in the second quarter. The layoff begins Dec. 22. Other workers will have an extended holiday shutdown lasting from Dec. 22 to Jan. 6. Lafayette-based Wabash didn’t […]

Dalton Corp., a foundry headquartered in the northern Indiana city of Warsaw, has filed for Chapter 11 bankruptcy protection from creditors. Dalton has about 1,500 workers at gray iron foundries in Warsaw and Kendallville, and a machining facility in Stryker, Ohio. The company supplies castings for air-conditioning, engines, transmissions and other uses. The bankruptcy was […]

Lilly Endowment has committed $300,000 to the International Center of Indianapolis for the 10th year in a row. The funds will be used for programs including cross-cultural training for employees and helping families relocate from other countries. The not-for-profit focuses on connecting people from various cultures in the city.

A study released today by the Democratic-leaning Economic Policy Institute estimates 40,700 to 147,300 Hoosiers would be thrown out of jobs if one or more of the three Detroit automakers were to shut down. The figures equate to 3 percent to 5 percent of the state’s 2.9 million workers. Only Michigan would be hit harder, […]

A plant in Fremont that makes enclosures for electronics, computers and telecommunications equipment will close by Aug. 1, throwing 114 out of work, according to The Journal Gazette of Fort Wayne. The work is being consolidated at a plant in Urbana, Ohio. Both sites are owned by Rittal Corp., which is headquartered in Springfield, Ohio, […]

DHL Express’ exit from the package delivery business in the United States will result in 323 workers losing their jobs in Indiana. Most of the jobs, 189, are in Indianapolis, according to the Indiana Department of Workforce Development. The rest are in Lafayette, Bloomington and South Bend. The layoffs will be finished by Jan. 23, […]

Fifty of ImClone Systems Inc.’s 1,280 employees have been laid off just two weeks after Eli Lilly and Co. closed its acquisition of the New York cancer drug developer, according to New Jersey Business. Nearly half of ImClone’s 70 sales people were eliminated. Most were focused on ImClone’s main drug, Erbitux. Indianapolis-based Lilly paid $70 […]