Whopping dividend puts obscure oil refiner in spotlight
The financial underpinnings for the current quarterly dividend—45.5 cents per share—seem less than sturdy.
Manufacturing
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Indiana bringing information revolution to public schools
The state is building a massive data system with a tough-love intent of rewarding good educators and schools and hammering
poor performers.
State manufacturing, logistics industries get high marks
Third annual report
from Ball State University highlights concerns over whether Indiana has enough qualified workers to meet demands of the increasingly
technical sectors.
Chinese furniture maker picks Marion for U.S. headquarters
The upholstered-furniture maker, which operates as Y.K. Furniture, plans to invest $24.3 million to establish its first U.S.
subsidiary. The facility will house assembly-and-distribution operations with about 100 employees.
Chrysler plans $300M upgrade of Kokomo transmission plants
The automaker says the investment will help retain 1,200 jobs, pave way for production of new eight-speed transmissions.
Ballard bets big on $16 million software project
Concluding a year-long evaluation and public bidding process, mayor chooses Oracle’s PeopleSoft to replace local government’s
1970s-era financial IT system and New York-based Zanett Inc. to lead the implementation.
IT consulting firm plans to create 230 jobs
Miller Consulting Group will move its headquarters from Indianapolis to Noblesville and add the jobs by the end of 2013,
the company said Wednesday morning.
GM recalling 1.5 million vehicles over fire concerns
The recall affects several pickup trucks, sport utility vehicles, crossovers and passenger car models from the 2006 to 2009
model years. GM conducted a similar recall in 2008 but came across new reports of fires in vehicles that had been fixed.
eTapestry co-founder headed for Baltimore
Longtime local IT entrepreneur Jay Love accepts job as CEO of software-maker Social Solutions, a loss for the Indianapolis
high-tech and not-for-profit communities.
Rolls-Royce snags $7.5 million military contract
Engineers at Rolls-Royce Corp.’s Indianapolis manufacturing facility will work for the next year to design, develop
and test an upgrade for a digital engine control the company is making for the U.S. Army’s OH-58 Kiowa Warrior helicopter.
Trailer maker Pace American could close Middlebury plant
A cargo trailer maker may close its manufacturing facility in Middlebury, potentially costing 150 workers their jobs.
Hurco suffers loss despite better sales
Indianapolis-based machine tool maker lost $1.5 million in its second fiscal quarter, which was much greater than the loss
it reported in the same period last year.
SEO firm Slingshot hitting target from the start
With $1.3 million in annual sales, Indianapolis-based Slingshot generates enough cash to fund its own growth—and turns away about half of its prospective clients, all of whom want to get their websites to pop up high on the first page of Google search results.
EnerDel’s potential luring backers despite steep losses
The parent of locally based lithium-ion battery maker EnerDel is putting together hundreds of millions of dollars in financing
to fund a business plan that could bring revenue to nearly $1 billion within five years.
ALTOM: Securing your Wi-Fi is worth your trouble
If you’ve got a wireless (Wi-Fi) router, you could be in some serious hot water if it’s not properly secured.
Factory orders post 1.2-percent April increase
Excluding transportation, orders actually fell 0.5 percent, the poorest showing in 13 months.
EnerDel parent lands $65M investment
The parent company of lithium-ion battery maker EnerDel has landed a $65 million investment from its largest shareholder.
Toyota to move Highlander production to Indiana
Toyota began manufacturing the Highlander SUVs in November 2000 and has been making between 1,000 to 9,000 gasoline vehicles
a month. In April, it produced about 1,900 units.
UPDATE: Alcoa, union reach tentative agreement
Aluminum giant Alcoa Inc. reached a tentative agreement on a new contract with its largest union Tuesday. It still must be ratified by union members in Indiana and seven other states.
EnerDel forms joint venture with Chinese autoparts maker
Battery company will offer expertise to help Wanxiang build Chinese factory, fill backlogs. Indiana employment could reach 3,000, but there’s no target date for achieving that milestone.