Slowing auto sales have forced Carmel-based Automotive Finance Corp., which lends money to car dealers to buy used vehicles
at auction, to take a big write-off on the declining value of its loan portfolio.
While America’s auto industry is being transformed to become efficient and environmentally conscious, put laid off auto employees
to work educating students.
Fueled by its line of gas-sipping economy cars, Honda is expanding in Indiana as car manufacturers almost everywhere else
are shrinking. And the 2,000 jobs the Japanese automaker is promising in Greensburg by 2010 could be just the beginning.
Indiana’s automotive manufacturing employment for the last decade peaked at 142,000 in 1999. Since then, the sector has shed
20,300 jobs-a staggering one-seventh of its total. Another 5,220 are slated to be cut soon. And there’s no end in sight.
Powerway Inc., the Indianapolis-based maker of manufacturing quality-control software that grew like gangbusters in the 1990s
and aimed for an initial public offering, has endured a dog of a half-decade. But that soon could change. Powerway just hired
an IT industry turnaround expert as CEO.
