Banking & Finance

NASDAQ breakdown ramps pressure to take actions

August 23, 2013
Associated Press
The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.
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Brownsburg town council head named new state auditor

August 15, 2013
Associated Press
Indiana Gov. Mike Pence announced Thursday morning he had selected Dwayne Sawyer for the position. Sawyer has been a member of the Brownsburg Town Council since 2009 and became its president last year.
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Indiana Members adds small credit union to its fold

August 15, 2013
 IBJ Staff
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
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Indiana senator to push for municipal bankruptcy law

August 3, 2013
Associated Press
A northwestern Indiana lawmaker says he will push a measure next year that would change state law to allow local governments to file for bankruptcy like Detroit did in July.
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Newcomer banks slice into 'overheated' Indianapolis marketRestricted Content

August 3, 2013
Chris O'Malley
Newer entrants are chasing market share with convenient hours, quick decisions and narrower niches of customers.
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Indiana state banks regaining pre-meltdown assetsRestricted Content

August 3, 2013
Chris O'Malley
Recovery doesn't mean banks have escaped challenges.
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DUNCAN: Dodd-Frank hems in many nonbank lendersRestricted Content

August 3, 2013
David Duncan / Special to IBJ
'Dealer markups' in jeopardy in push to protect consumers.
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City Securities' stumble opens door to rivalsRestricted Content

August 3, 2013
Chris O'Malley
City Securities Corp. has dominated the Indiana municipal bond market for decades, but the firm’s recent $580,000 settlement with the U.S. Securities and Exchange Commission could give issuers pause and competitors a foot in the door in the underwriting business.
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Life sciences venture capital dips againRestricted Content

August 3, 2013
J.K. Wall
Venture capital surged in the first half of 2012, to $51.6 million in Indiana. But the pace of activity here fell off sharply in the second half of last year, and remained sluggish into 2013.
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New front opens in family battle over Mel Simon fortuneRestricted Content

August 3, 2013
Greg Andrews
Bren Simon is pushing hard for a distribution from the estate now, citing as precedent an Indiana Court of Appeals ruling in another case that “as a matter of policy, beneficiaries should not be starved of distributions to which they are undisputably entitled.”
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CNO Financial gung-ho on share buybacksRestricted Content

August 3, 2013
The Carmel-based financial services company said that, during the second quarter, it repurchased $59.4 million of its securities, including 4.4 million common shares for $50 million.
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Venture capitalist Neff replacing Evans as AIT chief

August 2, 2013
Greg Andrews
It's the latest in a string of leadership changes at the testing lab. Neff is coming from CHV Capital, the venture capital arm of Indiana University Health, where he had been CEO.
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Local brokerage Goelzer reaches $500,000 settlement with SEC

August 1, 2013
Jeff Newman
Indianapolis-based Goelzer Investment Management Inc. has agreed to pay $500,000 to settle SEC charges that it misled many of its clients over a period of 13 years, costing them hundreds of thousands of dollars in trading fees.
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Regulators: JPMorgan owes $410M for price manipulation

July 30, 2013
Associated Press
The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from two power grid operators, including the Midcontinent Independent System Operator, which is based in Carmel.
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Centre Properties escapes foreclosure on 12 properties

July 30, 2013
Jeff Newman
Financial terms of the agreements, announced in a written statement, were not disclosed, but the mortgages involve tens of millions of dollars in debt on retail properties spread throughout the area.
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City Securities paying $580,000 to settle SEC probe

July 29, 2013
Greg Andrews
The SEC said the Indianapolis investment firm and a southern Indiana school district made false statements to bond investors. The agency also said the head of City's municipal bond division, Randy Ruhl, provided improper gifts to bond issuers.
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Under-the-radar utility-locating firm scores nearly $1B saleRestricted Content

July 27, 2013
Greg Andrews
Indianapolis-based United States Infrastructure Corp. just changed hands for the third time in five years—but not because it’s a hot potato nobody wants. Quite the contrary, as the latest sale price—nearly $1 billion—demonstrates.
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Bank seeks abatement to construct office space along I-69

July 27, 2013
Andrea Muirragui Davis
Economic development leaders in Fishers are asking the Town Council to OK a six-year property tax abatement to help First Internet Bancorp construct as many as two office buildings.
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Bidders lining up to build key I-69 legRestricted Content

July 27, 2013
Five global financing and construction teams want to build the next stage of Interstate 69 from Bloomington to Martinsville.
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Home Loan Bank taps CFO for top jobRestricted Content

July 27, 2013
Cindy Konich is the new CEO of Federal Home Loan Bank of Indianapolis. She succeeds Milton J. Miller, 57, who retired July 1.
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Angie's List shares fall as eBay plans competing model

July 25, 2013
Chris O'Malley
Indianapolis-based Angie’s List's stock continued to tumble Thursday morning after an analyst downgraded the stock following a report that Internet giant eBay will test its own consumer-reviews site in the United Kingdom.
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Faithful are victims at both ends of church scam

July 24, 2013
Associated Press
Nearly a decade after the government took over an Indiana brokerage firm whose leaders scammed more than 10,000 devout investors out of millions of dollars, officials are still trying to get their money back without forcing congregations out of their houses of worship.
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First Internet earnings jump on lending gains

July 24, 2013
Chris O'Malley
Commercial real estate lending for First Internet jumped 64 percent, to $112.7 million, in the second quarter. And commercial and industrial lending nearly doubled, to $15.3 million.
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Mighty Oxford Financial loses big case with clientRestricted Content

July 20, 2013
Greg Andrews
An arbitrator ordered the Carmel financial-advisory firm to pay $2.2 million to Reid Hospital & Health Services of Richmond. The dispute involved a delay in executing trades in 2011 that the hospital alleged cost it $2.5 million.
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Regulators suspend broker for not disclosing bankruptcyRestricted Content

July 20, 2013
FINRA fined Zionsville financial adviser Stephen W. Bracken $5,000 and barred him from affiliating with a member firm for three months.
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  1. I am not by any means judging whether this is a good or bad project. It's pretty simple, the developers are not showing a hardship or need for this economic incentive. It is a vacant field, the easiest for development, and the developer already has the money to invest $26 million for construction. If they can afford that, they can afford to pay property taxes just like the rest of the residents do. As well, an average of $15/hour is an absolute joke in terms of economic development. Get in high paying jobs and maybe there's a different story. But that's the problem with this ask, it is speculative and users are just not known.

  2. Shouldn't this be a museum

  3. I don't have a problem with higher taxes, since it is obvious that our city is not adequately funded. And Ballard doesn't want to admit it, but he has increased taxes indirectly by 1) selling assets and spending the money, 2) letting now private entities increase user fees which were previously capped, 3) by spending reserves, and 4) by heavy dependence on TIFs. At the end, these are all indirect tax increases since someone will eventually have to pay for them. It's mathematics. You put property tax caps ("tax cut"), but you don't cut expenditures (justifiably so), so you increase taxes indirectly.

  4. Marijuana is the safest natural drug grown. Addiction is never physical. Marijuana health benefits are far more reaching then synthesized drugs. Abbott, Lilly, and the thousands of others create poisons and label them as medication. There is no current manufactured drug on the market that does not pose immediate and long term threat to the human anatomy. Certainly the potency of marijuana has increased by hybrids and growing techniques. However, Alcohol has been proven to destroy more families, relationships, cause more deaths and injuries in addition to the damage done to the body. Many confrontations such as domestic violence and other crimes can be attributed to alcohol. The criminal activities and injustices that surround marijuana exists because it is illegal in much of the world. If legalized throughout the world you would see a dramatic decrease in such activities and a savings to many countries for legal prosecutions, incarceration etc in regards to marijuana. It indeed can create wealth for the government by collecting taxes, creating jobs, etc.... I personally do not partake. I do hope it is legalized throughout the world.

  5. Build the resevoir. If built this will provide jobs and a reason to visit Anderson. The city needs to do something to differentiate itself from other cities in the area. Kudos to people with vision that are backing this project.

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