UAW leaders approve proposed labor contract with GM
United Auto Workers leaders have approved a proposed contract with General Motors Co. that promises raises, improvements in health care and a hefty signing bonus.
Manufacturing
Articles
UPDATE: Cummins plans 2,000 job cuts after disappointing quarter
The Columbus-based engine maker said it would lay off about 500 people in Indiana. Shares fell nearly 10 percent Tuesday after third-quarter profit trailed analyst estimates and the company reduced its annual sales forecast due to weakening demand for its heavy-duty engines.
Allison tops expectations with quarterly results
Allison Transmission Holdings Inc. on Monday reported shrinking revenue and profit in the third quarter, but the results still topped analyst predictions.
UAW, General Motors reach contract agreement
The United Auto Workers union and General Motors Co. have reached a last-minute tentative agreement on a new four-year contract, avoiding a strike for now.
Local tech firm planning another expansion, 69 jobs
Locally-based technology consulting firm Allegient LLC on Friday morning announced plans to spend $1.3 million to renovate and equip unused office space in its headquarters near North Meridian Street and Interstate 465.
UPDATE: UAW passes new labor contract with Fiat Chrysler
Workers overwhelmingly approved a new four-year contract in voting that ended Wednesday night. UAW represents more than 7,000 Fiat Chrysler workers in central Indiana.
Ontario firm to acquire CTI Group for $22.5 million
A Canadian software firm has signed an agreement to acquire CTI Group Holdings Inc., one of the smallest publicly traded companies based in Indianapolis.
Angie’s List ekes out profit as new CEO rebuffs activist
Shares sank 15 percent on Wednesday morning despite an $82,000 profit in the third quarter. New CEO Scott Durchslag told analysts he wanted to increase shareholder value organically rather than pursue a sale or merger.
Indiana startups snare surging venture capital
Firms landed more than $28 million in the third quarter, the highest quarterly total in three years and a sign of accelerating entrepreneurial momentum in the state.
TinderBox lands $7 million in venture funding
Among the investors locally based Allos Ventures and High Alpha, and coastal VC firm Greycroft Partners.
HC1.com raises $13.2 million in growth capital
The Indianapolis-based firm, which sells health care-management software, said it plans to use the funds to grow its sales and marketing teams, and bolster distribution channels.
U.S. factory output drops in latest sign of weak growth
U.S. manufacturing production fell for the second straight month in September as factories cranked out fewer appliances, computers, and electronics.
Cummins completes new southern Indiana technical center
Engine maker Cummins Inc. has opened a new technical and office center in southern Indiana where engineers are to focus on improving fuel efficiency and engine endurance.
Exec’s quiet exit leaves no Klipsch atop speaker maker
Michael Klipsch, who stepped down in September as chief legal counsel and president of business development, had been with the indianapolis-based speaker maker nearly 20 years.
World’s biggest beer makers agree to join forces
The $106 billion merger would create a company that would control nearly a third of the global market and threaten to dominate the U.S. by bringing together Budweiser and Miller Genuine Draft.
Purdue to become home to Indiana cybersecurity center
The center will be the first hub of the Indiana Information Sharing and Analysis Center in Indianapolis. It is expected to monitor and defend state systems and networks from cyberattacks.
Safety label company plans $2.1M headquarters in Westfield
DuraMark Technologies Inc. hopes to hire 18 more employees to work in a new 18,000-square-foot office and production facility just south of 169th Street and west of U.S. 31.
VW might compensate owners of diesel cars for loss of value
Earlier this week, Kelley Blue Book said the value of VWs with 2-liter diesel engines had fallen 13 percent since mid-September, about when the automaker’s emissions cheating scandal came to light.
Indy unit key part of multi-pronged Salesforce strategy
Salesforce.com is using its Indianapolis-based Salesforce Marketing Cloud division as the springboard for a nascent business line that company officials believe has the potential to grow rapidly for years to come.
Salesforce expanding downtown, seeking big block of space
Salesforce.com appears to have scrapped plans to build its own downtown headquarters building and instead is seeking a huge block of space in an office tower to satisfy its aggressive growth plans.