Prosecutors say the 54-year-old man diverted more than $4.5 million of money from Cummins and other companies over a nine-year period.
On Friday morning at Engage Indiana 2019, Tom Linebarger evangelized for a model of doing business that emphasizes maintaining strong relationships with all stakeholders—employees, community leaders, corporate partners, government officials and shareholders—rather than only focusing on self-serving interests.
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.
Indiana-based engine manufacturer Cummins Inc. fell short of revenue and profit predictions with its third quarter results.
Cummins isn’t alone in its neighborhood approach. Multiple Indianapolis companies are choosing to focus their philanthropy on a particular neighborhood as a way to make a greater impact.
Score one for J. Irwin Miller, who during his quarter century atop Cummins Inc. championed corporate social responsibility—a stance that put him at odds with economist Milton Friedman, the 20th century’s most prominent advocate of free markets.
The retirement of President and Chief Operating Officer Rich Freeland will spark several executive-level promotions at the Indiana-based manufacturer.
Shares of the Columbus-based engine maker dropped in early trading after second quarter results missed analyst expectations, even though sales and profit were up over a year ago.
The move comes as Cummins, long known as a diesel engine powerhouse, expands its efforts in alternative powertrain technologies.
Volkswagen AG is renewing efforts to sell minority stakes in non-core operations to streamline its business and focus on the main passenger-car brands, according to people familiar with the matter.
Indiana-based Cummins will check certification and compliance processes for engines in the 2019 Ram 2500 and 3500 trucks after conversations with the U.S. Environmental Protection Agency and the California Air Resources Board, the company said.
The Columbus-based engine-maker, which saw revenue increase 16 percent last year, expects revenue in 2019 to fall between flat and up 4 percent.
Cummins CEO Tom Linebarger says a practical, targeted approach will work better than “carpet-bombing” China with escalating tariffs.
The Truck and Engine Manufacturers Association, which represents Indiana-based Cummins Inc. and other engine manufacturers, said the proposal represents a chance to modernize how the agency oversees big-rig emissions.
Columbus-based Cummins Inc. is doing a bit of a juggling act these days—staking its claim in the new realm of electric vehicles while keeping its legacy diesel business humming.
Indiana-based Cummins Inc. on Tuesday beat expectations with its third-quarter earnings while narrowly missing revenue predictions.
Companies like Tesla Inc. predict battery-powered trucks will soon be ready for the long-haul market. But Indiana-based engine maker Cummins Inc. thinks electric vehicles are more suitable for shorter ranges.