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Banking & Finance
Bank seeks $2M from estate of London Witte Group founder
February 24, 2012
Scott OlsonThe estate of Richard J. Salewicz, who died in 2010, is named in the foreclosure suit that also targets Tyson Corp., the company
he owned on the southwest side of Indianapolis. Local accounting firm London Witte is not part of the court action.
MoreSoaring revenue at Angie's List impresses analysts
February 23, 2012
IBJ StaffIndianapolis-based Angie's List beat analysts’ revenue expectations in its first quarter as a public company, seeing
results from a marketing campaign that drove up expenses.
MoreAngie's List posts smaller loss on higher revenue
February 22, 2012
The Indianapolis-based company posted a loss of $5.9 million in the fourth quarter on revenue of $27.9 million.
MoreCNO Financial profits beat analysts' predictions
February 22, 2012
J.K. WallExcluding investment gains and one-time charges, CNO’s operations generated $60.1 million, or 22 cents per share, in
the fourth quarter, up 16 percent from the same period last year.
MoreNuts-and-bolts distributor's sale leaves suppliers empty-handed
February 18, 2012
Kathleen McLaughlinThe purchaser, The Whitesell Group of Companies, bought the assets but not the liabilities, including $5 million owed to various
unsecured creditors.
MoreWiretaps suggest Durham tried to sugarcoat Fair's woes
February 18, 2012
Greg AndrewsTranscripts of phone conversations capture Fair Finance CEO Tim Durham discussing ways to recast company financials to mitigate
Ohio securities regulators’ concerns about massive insider loans.
MoreTax credits spur city apartment construction
February 18, 2012
Scott OlsonIncrease in federal funding helps developers finance projects that include mixed-income rental housing.
MoreForeclosure activity edges higher in January
February 16, 2012
Associated PressBanks took back more U.S. homes in January than in the previous month, the latest sign that foreclosures are accelerating
after slowing sharply last year. Foreclosures were up 69 percent in Indiana compared to January 2011.
MoreForeclosure sought for downtown's Century Building
February 15, 2012
Scott OlsonThe lender claims owner Blue Real Estate defaulted on an $8.5 million loan on the historic building after failing to make
payments beginning in July 2011.
MoreMore Fair suits target Durham family members
February 14, 2012
Scott OlsonThose named in the latest lawsuits include Tim Durham's ex-wife, Joan SerVaas; B.J. Durham, SerVaas' biological son who was
adopted by Durham; and the financier's sister, Courtney Durham.
MoreFirst Merchants shuns management from failed SCB Bank
February 13, 2012
Scott OlsonMuncie-based First Merchants Bank, which on Friday acquired significant loans and deposits held by SCB Bank in Shelbyville,
declined to bring the failed bank's CEO into the new ownership.
MoreFeds take over SCB Bank in Shelbyville
February 11, 2012
IBJ Staff and Associated PressMuncie-based First Merchants Bank will assume the deposits and some of the loans of SCB, the third Hoosier bank to fail since
the banking crisis began three years ago.
MoreCouncilor seeks review of city's TIF-district strategy
February 11, 2012
Cory SchoutenBrian Mahern, a Democrat on the City-County Council, plans to propose a study commission to examine the effectiveness of TIF
districts, how property tax caps will affect them, and ways to increase transparency for the complicated financing vehicles.
MoreDisappointing quarter puts WellPoint brass on hot seat
February 11, 2012
Greg AndrewsAnalysts say the company has struggled to generate the consistent earnings that rivals have, in part because of mispricing
of its Medicare Advantage senior coverage.
MoreRepublic shareholders cheer plans to shed Frontier
February 11, 2012
IBJ StaffA $120 million restructuring that included job cuts and cost reductions has returned Frontier Airlines to profit, allowing
Republic to move ahead with the separation.
MoreMerger to give northwest Indiana bank local foothold
February 10, 2012
Kathleen McLaughlinHorizon Bancorp of Michigan City announced Friday that it has agreed to acquire Heartland Community Bank of Franklin for about
$14 million, or $9.72 per share.
More13K Indiana foreclosure victims to get $2K checks
February 9, 2012
Associated PressIndiana homeowners will receive about $43 million in refinanced loans while other borrowers will get $30 million worth of
loan-term modifications and other relief as part of a $25 billion nationwide settlement with the country's biggest mortgage
lenders.
MoreTrustee seeks $1B from Fair Finance's lenders
February 8, 2012
Greg AndrewsFair Finance Co.’s bankruptcy trustee finally has found some deep pockets to go after in his quest to recover money
for the small-time Ohio investors who lost more than $200 million when the Tim Durham-led company failed two years ago.
MoreLatest Fair suits target Kato Kaelin, playmate, many others
February 7, 2012
Scott OlsonA former Playboy playmate, a well-known rapper and local businessmen are among the defendants in a barrage of lawsuits filed
by a bankruptcy trustee trying to collect funds for investors of Fair Finance Co., the defunct Ohio firm led by Tim Durham.
MoreHealth care VC hits new Indiana low in 2011
February 6, 2012
J.K. WallIndiana companies landed just $14.1 million in venture funding last year, the lowest amount of capital flowing to the
state’s health care sector since BioEnterprises began tracking such deals in 2005.
MoreMini Thin maker agrees to $1M bankruptcy settlement
February 4, 2012
Kathleen McLaughlinCarmel resident Richard Deer, who built a business around Mini Thin dietary supplements, has agreed to pay $1 million in his
company’s bankruptcy case.
MoreSale of storied bank reflects industry's difficult times
February 4, 2012
Greg AndrewsJohn Keach Jr., the third generation of his family to lead Indiana Bank & Trust, looked into the future and wondered how—given
the lackluster economy and increasing costs for everything from employee benefits to regulatory compliance—it would
generate robust earnings growth.
MoreFew in Indiana using state fund to avoid foreclosure
January 30, 2012
Associated PressA state program created to help Indiana residents avoid foreclosure by providing them with 10-year loans is seeing few takers
even though the state's foreclosure rate is among the highest in the nation.
MoreShould Indiana phase out inheritance tax?
January 28, 2012
Supporters of new legislation say the wealthy shouldn't have to leave the state to avoid the tax.
MoreWALKER: A watershed 401(k) deadline is hurtling our way
January 28, 2012
Brent Walker / Special to IBJPlan sponsors will face both higher expectations and legal responsibilities.
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See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.
Pimlico
While I understand the severity of their actions as well as everyones eagerness to hold them responsible for thier lost funds, these gentlemen did know how to make money. Dispite thier poor decisions over the ownership of Fair they had made several wise investments which paid them greatly. This proves they do have the potential to rebuild so they can repay. I do not feel they should live the life of luxuary but given an opportunity could they find ways of repaying the debts? They are doing nothing now but being a burden on tax payers. Just a thought!!!!!
You guys have some "interesting" comments to say the least. I hope you will call in and share those opinions starting June 1. I'm looking forward to having you on the air.