Midwest tech firms might skirt big valuation dips, experts say
The tailwinds that helped push valuations at private tech companies to sky-high levels have subsided considerably in 2016, but local experts think Midwest startups have little to fear.
Manufacturing
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Alcoa cuts number of layoffs caused by closing plant
Alcoa said the number of planned layoffs at its Warrick Operations have been reduced from an estimated 600 to about 325.
Green BEAN Delivery spreads into eight new markets
The expansion marks the first time Green BEAN has added more than one metro market at a time to its growing service territory.
LeadJen co-founders sue each other after split
An apparent fallout last year between Jenny Vance and Bill Johnson—two of the area’s better-known tech entrepreneurs—led the business partners to file lawsuits against each other last week.
No change on Indiana plant closures after Pence meeting
United Technologies hasn’t changed plans to close two plants with 2,100 workers, but it intends to pay back money it received in incentive agreements and keep about 400 research-and-development and executive jobs in the state.
N.K. Hurst considers expanding operations into Zionsville
The Indianapolis-based dry bean and soup packaging company is planning to invest $5.8 million to construct a 67,000-square-foot manufacturing and distribution center at 10505 Bennett Parkway.
February manufacturing report tops expectations
Factory activity in February shrank less than predicted as gains in new orders and production provided signs that the beleaguered industry could soon stabilize.
Automakers post healthy February sales gains
Automakers posted big U.S. sales gains in February as consumers returned to showrooms after a snowy January.
Activist pushing for Angie’s List’s sale joins board
TCS Capital founder Eric Semler and two other outsiders are joining the board under a settlement announced Tuesday morning. The pact bars TCS from increasing its ownership stake beyond 12.75 percent. It currently owns 10.7 percent.
Study: Women in Indy tech jobs earn more than males
Female technology workers in Indianapolis earn slightly more than their male counterparts, according to a new study, and Indy is only one of three cities nationally where that’s happening.
Penn State prof to lead IU informatics school
During Raj Acharya’s tenure at Penn State, the university's computer science research expenditure moved from 64th in the nation in 2001 to eighth in 2013.
Manufacturer turns tiny cars into big business
GreenLight Collectibles—a maker and wholesaler of replica cars, trucks, boats, trailers and other diminutive look-alikes—has managed to gain speed with growing revenue and new distribution deals—all while many of its competitors have hit the wall.
Verge goes national, finds friction over name
Founder Matt Hunckler believes emerging tech hubs across the country can benefit from the connections and information Verge offers, so he’s been charting a course for national expansion.
City to face another hard-to-fill shuttered factory
The only memories of thousands of long-gone manufacturing jobs are the giant, vacant factories left behind when companies bolt—after consolidation, restructuring or in search of cheaper labor.
Battered and bruised, Indy-based oil refiner soldiers on
Calumet's stock price has fallen so far that the annual dividend yield is a whopping 28 percent—one of the highest in the country.
Security-products firm Allegion plans to add 158 workers
The company plans to spend more than $13 million on the expansion, with most of the new jobs going to a factory on the east side of Indianapolis.
Analysts: Activists may turn up heat after Angie’s earnings miss
Angie’s List made history Tuesday by notching its first profitable year, but the company’s shares tumbled more than 10 percent after it reported underwhelming revenue growth.
Noblesville High School student creates app for hall passes
Pass Whiz, the app created by 17-year-old Zack Baker, allows students to request a pass to leave the classroom which teachers can approve or deny by tapping a button.
Angie’s List reports first profitable year in company history
The 21-year-old Indianapolis-based home-services reviews and marketplace firm announced a 2015 profit of $10.2 million, up from a loss of $12 million in 2014.
Carrier plant closing shows vagaries of modern manufacturing
The Indianapolis HVAC plant had taken numerous steps to improve efficiency, but they weren't enough to overcome the labor savings that go with shifting the work to Mexico.