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Banking & Finance
Preferred-shareholder group sues Emmis over restructuring
April 17, 2012
Anthony SchoettleA group of Emmis Communications Corp. preferred shareholders, unhappy with a company proposal that would strip them of their
right to collect millions of dollars in dividends, filed a lawsuit against the Indianapolis media firm Monday to try to prevent
the move.
MorePoison pills remain as Lilly shareholder vote falls short
April 16, 2012
J.K. WallThe proposal garnered support from the owners of 62 percent of Eli Lilly's outstanding shares. To pass, the proposal needed
approval from the owners of 80 percent of Lilly’s shares.
MoreBank of Indiana on long journey back from brink
April 14, 2012
Greg AndrewsA fast-growing Indianapolis bank that became one of the biggest U.S. Small Business Administration lenders in the state has
returned to profitability after a harrowing stretch of massive losses from borrower defaults that nearly led to its failure.
MoreEx-bank exec Alley to take over Indiana revenue office
April 13, 2012
IBJ Staff and Associated PressFormer Fifth Third Bank president Mike Alley will take over as the state's revenue commissioner. He'll replace John Eckart,
who resigned last week amid controversy over misplaced local option income taxes.
MoreForeclosures down nationally, up in Indiana
April 12, 2012
Associated PressActual foreclosures sank to a five-year low in March, but the number of homes entering the foreclosure process is on the rise
again.
MoreHauke receiver files suit to recover $600K from Arizona investor
April 11, 2012
J.K. WallAttorney William Wendling will try to collect $1 million to $2 million from a handful of investors in Samex Capital Ponzi
scheme.
MoreHofmeister seeks financing to emerge from bankruptcy
April 6, 2012
Scott OlsonDespite objections from unsecured creditors, a federal bankruptcy judge granted the jeweler's request to hire an outside
consultant to help it seek alternative financing to repay the balance of a PNC Bank loan.
MoreBankers Life paying $10M fine following securities probe
April 5, 2012
Cory SchoutenCNO Financial Group Inc. has agreed to pay $9.9 million to settle allegations by regulators in four states that its Bankers
Life subsidiary acted as an investment adviser and broker-dealer without proper state licensing.
MoreWall Street observers blast Emmis plan to ax preferred shares
April 2, 2012
Scott Olson, Cory SchoutenEmmis Communications Corp.'s effort to strip its preferred shareholders of their rights and avoid forking over about $10
million in unpaid dividends is drawing sharp criticism from top market observers, including a columnist for The New York
Times.
MoreS&P completes biggest first-quarter rally since 1998
March 31, 2012
Bloomberg NewsMore than $3.6 trillion has been restored to U.S. equity values since October amid better-than-estimated earnings and economic
data. Indianapolis-based WellPoint Inc. surged 11 percent this week, as the Supreme Court debated the health care law.
MoreFair Finance trustee attorneys could land bigger jackpot
March 30, 2012
Scott OlsonAttorneys assisting the Fair Finance Co. bankruptcy trustee have agreed to no longer be paid by the hour but instead on a
contingency based on a percentage of funds recovered for shareholders of the company owned by indicted financier Tim Durham.
MoreIndy lab company secures $30M seed investment
March 30, 2012
J.K. WallIndianapolis-based Strand Diagnostics LLC will receive up to $30 million in investment capital over the next three years from
Los Angeles-based NantWorks LLC, a seed-stage investment firm, the companies announced this week.
MoreGovernment sues to close tax preparer in 5 cities
March 28, 2012
Associated PressThe U.S. Justice Department is going to court in an effort to close a tax preparation company called Instant Tax Service and
its offices in Indianapolis and four other cities, accusing franchisees of preparing fraudulent tax returns to maximize refunds
and extract large tax preparation fees.
MoreTwo charged in $2.2M scheme against Colts' Freeney
March 28, 2012
Associated PressA financial adviser for Indianapolis Colts defensive end Dwight Freeney and the adviser's lover have been arrested on
federal wire fraud charges that allege they swindled about $2.2 million from the lineman.
MoreVeteran Deloitte managing partner retiring
March 28, 2012
Michael Becher will leave the local office of the accounting firm after a 36-year career, including 20 years as its leader.
He'll be succeeded by Mary Boelke, who'll becomes just one of two female managing partners among the city's top 20 accounting
firms.
More'Repo Games' TV show to feature Indiana contestants
March 26, 2012
Associated PressAnderson will be heavily featured in a game show that gives residents who are facing a repossession a chance to have their
vehicle paid off on the spot by answering questions correctly.
MoreClient seeks lost revenue from Oxford Financial
March 24, 2012
Greg AndrewsReid Hospital & Health Care Services in Richmond alleges the financial adviser's delay in selling investments cost the
hospital more than $2.5 million.
MoreEx-investment manager Hauke gets 10 years for fraud
March 23, 2012
Scott OlsonKeenan Hauke of Fishers, who pleaded guilty to securities fraud in December after costing hedge fund clients $7 million, received
a 10-year federal prison sentence Friday morning.
MoreIndianapolis attorney pleads guilty to theft charges
March 22, 2012
IBJ Staff and Associated PressAn Indianapolis attorney has pleaded guilty to theft charges after prosecutors say she took nearly $600,000 from two accounts
for which she was responsible.
MoreFishers collection agency expanding, adding 140 jobs
March 22, 2012
DECA Financial Services LLC plans to add 140 jobs by 2015 as part of a $2.6 million expansion that includes the purchase of
a building on Visionary Way in Fishers.
MoreDynamics in place to mint public companies aplenty
March 17, 2012
Greg AndrewsIndianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on
the strengthening economy and improving investor appetite for new issues.
MoreAllison shares rise in first day after expanded IPO
March 15, 2012
IBJ StaffAllison Transmission Holdings Inc. shares rose 1.7 percent in their trading debut Thursday after the Indianapolis-based manufacturer
raised more than sought in its initial public offering.
MoreCarmel councilors want final say on city's debt
March 15, 2012
Kathleen McLaughlinCarmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign
off on any additional debt. The ordinance is backed by at least five of the seven councilors.
MoreForeclosures surge in most states, including Indiana
March 15, 2012
Associated PressIndiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent
from the previous year.
MoreIndiana Live parent seeks Chapter 11 loan extension
March 15, 2012
Bloomberg NewsIndianapolis Downs LLC, parent company of Indiana Live horserace track and casino in Shelbyville, wants lenders to grant a
one-year extension of financing for the Chapter 11 reorganization that otherwise would expire in April.
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Laura-the festivals and tastings are free. What does is strengthen the sense of community with activities. What are those empty lots doing for the Village? it's sad you can't see the good that this progress can do for the area. No one is requiring anyone to shop there. I guess you'd rather see a Dollar store move in or no, we'd rather see the property stand empty b/c change is out of the question.
Read down to the part about Brizzi. Someone needs to subpoena his "purchases" of Red RockPictures and Cellstar and his corresponding bank records, I mean c'mon, I'd like to see his alcohol usage records, too. http://diana-vice.blogspot.com/2011_01_01_archive.html
Wonder if my neighborhood can advertise our "retention" pond and act like it is a beach too?
a new record at the '11 salebration until they realized that it was a futile effort to get their crapwagon moter and crapwagon car up speed. And then they just quietly slunk off into the night and never spoke of it again. Nothing to see here folks.
millions for putting a company's bumper sticker on one of its Lolas. But you gotta take what you can get.