Banking & Finance

Items in '12 Days of Christmas' increase to $107,000

November 26, 2012
Associated Press
If you get buy all 364 items repeated throughout "The Twelve Days of Christmas" carol, you'll pay 6.1 percent more this year, according to the so-called Christmas Price Index that PNC Wealth Management updates annually.
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Pliant Ohio regulators helped clear path for Durham's fraudRestricted Content

November 24, 2012
Greg Andrews
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
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$22M foreclosure suit targets local apartment complexes

November 21, 2012
Scott Olson
The three complexes are Dogwood Glen Apartments on the city's northwest side, Elmtree Park Apartments on the far-east side and Heathmoore Apartments on the southeast side.
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Indianapolis receives $39M loan guarantee from HUD

November 20, 2012
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development and housing rehabilitation initiatives to benefit people of low and moderate incomes.
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Carmel council approves refinancing package

November 19, 2012
 IBJ Staff
Carmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by the Carmel Redevelopment Commission.
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Carmel project dogged by conflict questionsRestricted Content

November 17, 2012
Kathleen McLaughlin
An executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project was driven by conflicts of interest.
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Battered Broadbent climbs back from brinkRestricted Content

November 10, 2012
Cory Schouten
One of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and protracted legal battle with two lenders.
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PROXY CORNER: First Financial Corp.Restricted Content

November 10, 2012
Terre Haute-based First Financial Corp. is the holding company for First Financial Bank, The Morris Plan Co. of Terre Haute and Forrest Sherer Insurance. It operates more than 60 banking offices in Indiana and Illinois.
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Health insurance stocks flop after Obama wins second term

November 8, 2012
Associated Press
Health insurance stocks sank deeper than the broader market Wednesday after President Barack Obama's re-election helped clarify the future of his health care overhaul, a sweeping law that some investors fear will pinch profits.
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Investor accused of defrauding burned-down church

November 8, 2012
Associated Press
Federal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
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WellPoint shares droop despite profitable quarter

November 7, 2012
Bloomberg News
WellPoint Inc.'s third-quarter earnings trumped Wall Street expectations, but the health insurer's stock tumbled Wednesday after President Barack Obama won re-election, a victory that could help cement the future of his health care overhaul.
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Stocks rise as investors wait for a winner

November 6, 2012
Associated Press
Major stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.
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Two Indianapolis office buildings in foreclosure

November 5, 2012
Scott Olson
The buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company that operates 12 cemeteries and four funeral homes throughout Indiana.
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Speech recognition technology firm gets cash infusionRestricted Content

November 3, 2012
Waveform Communications LLC got its second round of funding for research and development.
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Settlement talks afoot in Mel Simon estate brawlRestricted Content

November 3, 2012
Greg Andrews
Attorneys for Mel’s daughter Deborah asked a Hamilton County judge to put discovery deadlines on hold and vacate the July 2013 trial date while the parties negotiate a “memorandum of understanding.”
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State fund invests $600,000 in neutron-detection company

November 2, 2012
The Indiana's 21st Century Fund investment will help PartTec Ltd. commercialize its technology. The money will be co-invested with $1.2 million in private funds.
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Baldwin & Lyons profits rise on fewer storm losses

November 1, 2012
Indianapolis-based Baldwin & Lyons Inc. continues to improve on its 2011 results, recording after-tax profit of $11.7 million, or 78 cents a share, for the third quarter.
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Indianapolis accounting firm settles with Fair Finance trustee

November 1, 2012
Kathleen McLaughlin
Somerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
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Durham lawyer balks at proposed 225-year sentence

November 1, 2012
Greg Andrews
The attorney for convicted Ponzi schemer Tim Durham argues that the presentencing report miscalculates the losses suffered by investors, includes a range of allegations that weren’t proven at trial and blames his client for events outside his control.
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Local lawyer appointed federal bankruptcy judge

October 31, 2012
James M. Carr of the Indianapolis law firm Faegre Baker Daniels LLP has been appointed to a 14-year term effective Jan. 1. His selection follows the recent appointment of Marion Superior Court Judge Robyn Moberly.
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Indiana businessman admits guilt in 2 fraud plots

October 29, 2012
Associated Press
An Indiana businessman has pleaded guilty to ripping off an Iowa company and duping investors in separate fraud schemes totaling $2.3 million.
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Storm will keep financial markets closed Tuesday

October 29, 2012
Associated Press
Stock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading will also be closed.
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Charter airline proposed by local entrepreneur on investment firm's radarRestricted Content

October 27, 2012
Chris O'Malley
Legacy Travel Club finds believer after months of fruitless fundraising locally.
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Church caught up in nightmare after life insurance scheme soursRestricted Content

October 27, 2012
Kathleen McLaughlin
The Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later on the secondary market.
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Rapid rise of ExactTarget uplifting for young techies

October 27, 2012
Greg Andrews
In just over a decade, the interactive marketer has rocketed from bootstrapped startup to New York Stock Exchange-listed company with a market value of $1.5 billion.
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  1. So much for Eric Holder's conversation about race. If white people have got something to say, they get sued over it. Bottom line: white people have un-freer speech than others as a consequence of the misnamed "Civil rights laws."

  2. I agree, having seen three shows, that I was less than wowed. Disappointing!!

  3. Start drilling, start fracking, and start using our own energy. Other states have enriched their citizens and nearly elminated unemployment by using these resources that are on private land. If you are against the 'low prices' of discount stores, the best way to allow shoppers more choice is to empower them with better earnings. NOT through manipulated gov mandated min wage hikes, but better jobs and higher competitive pay. This would be direct result of using our own energy resources, yet Obama knows that Americans who arent dependent of gov welfare are much less likely to vote Dem, so he looks for ways to ensure America's decline and keep its citizens dependent of gov.

  4. Say It Loud, I'm Black and Ashamed: It's too bad that with certain "black" entertainment events, it seems violence and thuggery follows and the collateral damage that it leaves behinds continues to be a strain on the city in terms of people getting hurt, killed or becoming victims of crimes and/or stretching city resources. I remember shopping in the Meadows area years ago until violence and crime ended make most of the business pack you and leave as did with Lafayette Square and Washington Square. Over the past 10 to 12 years, I remember going to the Indiana Black Expo Soul Picnic in Washington Park. Violence, gang fights and homicides ended that. My great grandmother still bears the scares on her leg from when she was trampled by a group of thugs running from gun fire from a rival gang. With hundreds of police offices downtown still multiple shootings, people getting shot downtown during Black Expo. A number of people getting shots or murdered at black clubs around the city like Club Six on the west side, The Industry downtown, Jamal Tinsley's shot out in front of the Conrad, multiple fights and shootings at the skating rinks, shootings at Circle Center Mall and shooting and robberies and car jackings at Lafayette Mall. Shootings and gang violence and the State Fair. I can go on and on and on. Now Broad Ripple. (Shaking head side to side) Say It Loud, I'm Black and I'm Ashamed.

  5. Ballard Administration. Too funny. This is the least fiscally responsive administration I have ever seen. One thing this article failed to mention, is that the Hoosier State line delivers rail cars to the Amtrak Beech Grove maintenance facility for refurbishment. That's an economic development issue. And the jobs there are high-paying. That alone is worth the City's investment.

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