Trump threatens payback for U.S. companies that move abroad
President-elect Donald Trump is threatening to impose heavy taxes on U.S. companies that move jobs overseas and still try to sell their products to Americans.
Manufacturers
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Trump claims victory at Carrier, but many manufacturing battles remain
Union workers and economists say pressuring individual factory owners won’t save U.S. manufacturing jobs lost to economic forces that are beyond the control of companies or the president.
UPDATE: State pledges $7M in incentives to Carrier as it retains some Indy operations
Under a deal with Indiana officials, Carrier Corp. plans to keep hundreds of manufacturing jobs in Indianapolis and upgrade its facility for gas furnace production.
Huntington plant looks to be left out of Trump’s Carrier deal
A 700-worker factory in northeastern Indiana facing closure doesn’t appear to be part of a deal President-elect Donald Trump struck with its parent company to keep hundreds of jobs at an Indianapolis plant.
Analysis: Trump uses Carrier, Ford to send message to manufacturers
President-elect Donald Trump is reviving the persuasive art of “jawboning” as he uses the bully pulpit to strong-arm straying manufacturers. But for how long will it be effective, and is it in the long-term best interest of the economy?
Manufacturing in U.S. expands at best pace in five months
Eleven of 18 industries surveyed by the Institute for Supply Management posted growth in November, including petroleum, paper, plastics and computers and electronics.
Experts: Don’t get too excited about Carrier deal’s broader impact
President-elect Donald Trump’s job-retention deal with Carrier Corp. could have symbolic value, some business and economic experts say, but isn't likely to alter long-term manufacturing trends.
Mutz: State to offer Carrier incentives, but other factors played bigger role
Carrier Corp. was motivated to retain 1,000 manufacturing jobs in Indianapolis by a state incentive package and the possibility of losing a “favorable relationship with federal contractors,” according to a prominent IEDC board member.
Toyota Material Handling to hire more workers in Indiana
Toyota Material Handling USA Inc. said it plans to add up to 71 workers by the end of 2019 at its facility in Columbus.
UPDATE: Carrier strikes deal with Trump to keep 1,000 jobs in Indy
President-elect Donald Trump and Vice President-elect Mike Pence plan to be in Indianapolis on Thursday to detail the deal.
Union leader not optimistic Trump can save Carrier jobs
United Steelworkers Local 1999 president Chuck Jones said Friday that he doesn't want the plant's workers to get their hopes up, but said "some hope is better than none at all."
Trump tweets that he’s ‘making progress’ on keeping Carrier in Indy
The company, which has announced plans to move 1,400 jobs from Indianapolis to Mexico by 2019, confirmed Thursday it has had discussions with president-elect Donald Trump’s incoming administration.
City tries to claw back $380,675 from exiting Rexnord Corp.
As the manufacturer prepares to move its Indianapolis operations to Mexico, city officials are demanding a refund in tax incentives received by the firm.
Lilly CEO: Find overlap between corporate mission, philanthropy
John Lechleiter told local leaders Friday morning that while community engagement might not immediately impact the bottom line, it can be beneficial to a company’s ongoing mission.
Local exporters wary of Trump policies
Hoosier businesses hope negative campaign talk about nation’s trade deals won’t restrict free flow of Indiana goods outside U.S. borders.
Rexnord definitely moving Indy operations to Mexico, union says
Rexnord Corp. plans to proceed with the closure of its Indianapolis bearings plant, according to the union that represents most of the plant’s approximately 350 employees.
Lawsuit accuses Chrysler, Cummins of VW-like cheating on Dodge trucks
Chrysler and its diesel technology partner Cummins Inc. are accused of fraud, false advertising and racketeering in the complaint, filed Monday in Detroit federal court on behalf of the owners of almost 500,000 Dodge Ram model trucks.
GM laying off over 2,000 at 2 Midwest car plants
General Motors also announced that it would invest more than $900 million in three plants to prepare for undisclosed new vehicles, including a plant in Indiana that has about 870 employees.
Packaging entrepreneur, 84, to sell family firm for $100M
Bob Haddad started the box company in 1975. It since has branched out to a wide variety of products and several location in Indiana and Illinois with 300 employees total.
Cummins shares slip on lower revenue, earnings
The Indiana-based engine maker said sales were hurt by a slowdown in North American truck production and by weak international demand for power-generation equipment.