The newest of Columbus’ mid-century modernist buildings were built in the 1970s, meaning some of the city’s notable landmarks need expensive repairs.
Cummins: Suspending Russian operations cost it $158M in first quarter
Cummins made the disclosure in its first-quarter financial report. Profit dropped in the period, but sales hit a record high. The company also said interest in its emerging hydrogen business is growing.Read More
Tony Stewart’s home, 415-acre hunting getaway, on market for $30M
The racing legend’s property in central Indiana includes a 20,000-square-foot luxury log-built house with an adjacent nine-acre lake.Read More
After long delay, Beerded Swine opening in Lockerbie with meat, cheese, libations
Expected to debut by the end of September, The Beerded Swine is intended to be a sister shop to The Savory Swine in downtown Columbus.Read More
German American, which has 78 locations in 33 Indiana and Kentucky counties, said it plans to open a loan production office in Greenwood this quarter. It will be the bank’s first physical presence in this market.
The Indiana-based manufacturer said sales in North America declined 21% last year, but its sales in China reached record levels, up 25% from the previous year.
Cummins announced last year that it planned to build a $35 million office building at the corner of Interstate 65 and County Line Road, but the pandemic has the engine maker rethinking how to best use that site.
The Columbus-based engine maker’s third-quarter revenue and net income rebounded better from pandemic-related lags than analysts had expected.
Cummins said it expects sales to improve in the third quarter, although the pandemic continues to create considerable uncertainty.
The announcement marks the latest in a series of steps the Columbus-based engine maker has taken in recent years to diversify its offerings in alternative-energy power systems.
IndyGo is among transit operators nationwide that will share $25 billion in federal aid as part of the Coronavirus Aid, Relief and Economic Security Act.
The engine-maker says it will close three Columbus manufacturing sites and one in Seymour until May 4. The news comes a day after the company announced that it would temporarily reduce the salaries of its U.S. employees by 10% to 25%.
The action affects employees as well as the Columbus-based engine maker’s CEO and board members. The company said it will re-evaluate the temporary pay cuts at the end of the second quarter.
The Columbus-based engine-maker said it expects sales to drop another 8% to 12% in 2020, it expects its full-year 2020 revenue to decline between 8% and 12%, mostly because of lower truck production in North America, Europe, China and India
Cummins said the layoffs are part of a wider effort to trim up to $300 million in costs in response to a slowdown in sales demand.
The retirement of President and Chief Operating Officer Rich Freeland will spark several executive-level promotions at the Indiana-based manufacturer.
Two of Indy’s leading actors gave up lucrative careers in movies, TV and commercials to make a new life for themselves in central Indiana.