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.
Manufacturing
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Cummins CEO: Companies need to stand up for free trade, TPP
Tom Linebarger points to the company’s Seymour plant where 800 employees produce high-speed diesel engines—70 percent of which are exported globally—as a key reason he believes free trade is good for the Hoosier worker.
Emarsys North America parent lands $22.3M investment
This financing will be used to “fuel innovation in artificial intelligence and data science, and accelerate growth at Emarsys,” the company said.
RCA firm grows with LED popularity
For decades, the RCA brand has been associated with televisions and other consumer electronics. But it’s LED lighting that’s helping fuel growth for Indianapolis-based RCA Commercial Electronics.
‘Gig’ economy heats up in Indy
A swelling throng of Indianapolis workers is part of the so-called “gig-economy,” which denotes the matchmaking between independent contractors and consumers over technology platforms.
Angie’s List board departures followed push by activist
A Washington, D.C.-based investor who had wanted two longtime board members of Angie's List Inc. to quit got his wish in early October.
Allegion rebounds in third quarter with $1.6M profit
The security-products firm also posted higher revenue, but its results weren’t as good as Wall Street expected.
IU’s new data science degree taps into hot health care market
The new degree blends such disciplines as biostatistics, computer science and informatics to better understand issues related to health care cost and quality.
Mayor unsure how much of Rexnord incentives city could claw back
Indianapolis officials had success recovering $1.2 million from Mexico-bound Carrier Corp. In the case of Rexnord Corp., which announced a tentative plant closure last week, the incentives in play could be far less.
Indy cloud-consulting firm Appirio to be acquired for $500M
An India-based infotech company plans to buy Appirio Inc., which moved its corporate headquarters from San Francisco to Indianapolis last year.
Indiana’s manufacturing industry losing steam, survey says
Respondents from a wide range of sectors across the state say their expected growth rates for revenue, profit and capital investment are lower than in recent years.
Vertellus workers qualify for federal layoff assistance
The U.S. Department of Labor says Vertellus employees affected by a pending plant layoff can apply for Trade Adjustment Assistance.
Oesterle joins board of utility-tech startup MeterGenius
The former CEO of Angie’s List Inc. has accepted an invitation to sit on the board of a startup launched by a former Angie’s List employee.
Rolls-Royce’s $400M modernization is massive juggling act
With Project Condor, the manufacturer will update its Tibbs Avenue and Raymond Street plants while continuing uninterrupted production of high-precision engines for military aircraft.
Office furniture maker ending Indiana operations; 365 to lose jobs
Paoli Inc. will begin shutting down its corporate campus in Orleans in phases beginning in January and permanently close by the end of next October, the company said. The furniture maker got its start in 1926.
Software-as-a-service firm Zylo lands $3.3M in funding
Zylo, launched by Indianapolis-based High Alpha Studio earlier this year, received funding from three well-known names in the local tech community.
Social analytics firm Geofeedia hit by data crackdown
The Chicago-based tech firm, which has pledged to hire hundreds of employees in Indianapolis by 2020, suddenly is facing a game-changing threat to its business.
Interactive investor files class-action suit against $1.4B sale
In a federal lawsuit, a Maryland-based shareholder claims the $60.50 per-share offer for Interactive Intelligence by Genesys Telecommunications Laboratories undervalued the local software firm.
T2 Systems co-founder to take it easy following 22-year run
Mike Simmons, who has stepped down as CEO of the parking-management-software firm, now plans to focus on board work, angel investing and a few of his hobbies.
Bankruptcy court clears way for Magnetation shutdown
A bankruptcy court has cleared the way for Magnetation LLC to shut down its remaining operations, including a plant in Indiana that had about 165 workers six weeks ago.