Judge slashes punitive damages awarded in case against Wabash
Judge Christopher E. McGraugh said the original $450 million amount awarded by the jury was “grossly excessive” and not in line with the company’s constitutional rights.
Alex Brown, Inside INdiana Business
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Indiana-based Shoe Carnival to convert more stores to Shoe Station brand
Shoe Carnival said it will transition 175 stores to the Shoe Station banner over the next two years, with the first 50 to 75 stores being completed in the first fiscal year.
California defense tech company breaks ground on Indiana facility
The Indiana Economic Development Corp. noted the company plans to invest a total of more than $456 million and create up to 628 jobs by the end of 2029.
Vera Bradley to sell Pura Vida business as part of ‘strategic evolution’
Vera Bradley, which had already acquired a 75% ownership stake in the California-based jewelry brand in 2019, acquired the remaining 25% interest in 2023.
European packaging company to build $110M plant in Anderson
The new, 350,000-square-foot facility is expected to employ more than 100 people after becoming fully operational.
State revenue collections continue to exceed projections
The Indiana State Budget Agency noted that higher-than-expected collections from income tax revenue outweighed lower-than-expected collections from sales tax and interest revenue.
Indianapolis-based Calumet to sell portion of Royal Purple business for $110M
The sale includes Royal Purple’s synthetic industrial product line, which encompasses gear lubricants, bio-environmental lubricants, stationary natural gas engine oils, hydraulic lubricants, and compressor oils.
Rolls-Royce, UAW reach tentative pact, averting 800-worker strike
Negotiators for the UAW Local 933 were seeking increases in wages, an end to wage tiers, and a cost-of-living adjustment for all members.
Indiana University selects Kelley School veteran to lead business school
The 30-year educator at IU will succeed Ash Soni, who is wrapping up a two-year tenure as dean and plans to return to faculty.
UK-based sports tech company to establish Indiana presence
London-based Sportable has developed a tracking platform that uses sensors placed inside balls to deliver data designed to measure player and team performance.
Ivy Tech ‘sunsetting’ its Office of Diversity, Equity and Belonging
Ivy Tech President Sue Ellspermann said the decision was a proactive move to protect funding amid federal orders and state legislation targeting diversity, equity and inclusion efforts.
Doug Boles named president of IndyCar
The promotion was among a series of leadership updates announced Tuesday by Penske Entertainment Corp.
Longtime builder Davis Homes acquired by Fort Wayne-based investment firm
Indianapolis-based Davis Homes, which has roots dating to the 1950s, is one the largest residential builders in central Indiana.
As Indy gets set to host Royal Rumble, here’s what you need to know
On Saturday, World Wrestling Entertainment will hold one of its largest premium live events, the 2025 Royal Rumble, at downtown’s Lucas Oil Stadium. It will be the first time in the event’s 37-year history that the Royal Rumble has been held in Indianapolis.
OrthoIndy to merge with Evansville, Fort Wayne practices
When the merger is completed in mid-2025, OrthoIndiana will operate 39 locations throughout Indiana with 160 physicians and more than 1,800 employees, the practices said.
Shareholder group calls for Vera Bradley to consider ‘strategic alternatives’
Fund 1 Investments LLC said Vera Bradley’s board should consider taking the handbag company private or a potential sale, among alternatives.
Gary’s Eddie Melton one of 20 mayors to sign letter of support for U.S. Steel acquisition
Earlier this month, the Japanese steelmaker said it would invest $1 billion in U.S. Steel’s Gary Works if the acquisition goes through.
Indianapolis-based Loy Instrument acquired by Texas company
Loy Instrument was founded in 1937 and provides process control, combustion, and industrial services for a variety of industries.
Indianapolis courier company acquired by Minnesota logistics firm
Leaders of Indianapolis-based Now Courier expect company growth to continue following the acquisition by Minneapolis-based Priority Courier Experts.
Indiana Sports Corp aims to keep Big Ten football championship in Indy
Indianapolis is set to host the conference’s big game through 2028, and Indiana Sports Corp President Patrick Talty says the city has hopes to continue beyond that time.