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Banking & Finance
Lampoon paid for Durham’s defense, trustee alleges
January 23, 2013
Scott OlsonFair Finance bankruptcy trustee Brian Bash, charged with recovering funds for Fair investors, alleges in a court filing that
National Lampoon funded convicted Ponzi schemer Tim Durham's defense. Durham is a former CEO of the film company.
MoreEx-councilor Bateman agrees to plead guilty to fraud charges
January 23, 2013
J.K. WallPaul C. Bateman Jr., a former Democrat city-county councilor, agreed to plead guilty Wednesday to 13 counts of money laundering
and wire fraud for his part in defrauding an Indianapolis physician of $1.7 million.
MoreLocal buyout firm acquires New York shapewear maker
January 23, 2013
IBJ StaffIndianapolis investment firm E&A Industries has acquired a fast-growing New York apparel firm specializing in body-slimming
fashions, the companies announced Tuesday.
MoreLocal tooling manufacturer acquired by private-equity firm
January 21, 2013
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex,
in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
MoreNew tool could drive down employers' health care costs
January 19, 2013
J.K. WallTen of Indiana’s largest employers—including the state of Indiana; Cummins Inc.; CNO Financial Group Inc.; Indiana,
Purdue and Butler universities; and Indiana University Health—think they have hit upon a solution.
MoreHHGregg ratchets back, but analysts still uneasy
January 19, 2013
Greg AndrewsHHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it
used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.
MoreIndiana firms see big drop in venture funding
January 18, 2013
J.K. WallVenture capital investments in Indiana dropped off in 2012, but local investors see the market here steadily gaining strength.
MoreLeader of fraud scheme pleads guilty to 20 counts
January 17, 2013
Scott OlsonMichael Russell faces between 57 and 71 months in prison for defrauding an Indianapolis investor of $1.7 million. Two associates,
Paul Bateman, a former City-County councilor, and Manuel Gonzalez, have pleaded not guilty and are set for trial Feb. 11.
MoreIndiana liberal arts colleges strategize to survive perfect storm
January 12, 2013
J.K. WallColleges are experimenting with business models at a time when the ability of students and their families to pay are dropping
dramatically, and endowments and scholarship funds remain depressed.
MoreFarmers seek rescue from unexpected property tax hit
January 12, 2013
Kathleen McLaughlinNew soil-productivity factors issued by the Department of Local Government Finance last year would have raised tax collections
an average 18.5 percent this year.
MoreEmmis' well-paid CEO signs on for 3 more years
January 12, 2013
Greg AndrewsCEO Jeff Smulyan's supporters praise him for repositioning Emmis during a harrowing stretch for the media industry. Detractors
complain about his hefty compensation.
MoreAnalyst cuts Cummins rating, citing rise in shares
January 11, 2013
Associated PressAnalyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting
that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
MoreBioCrossroads seed fund makes first investments
January 10, 2013
Local startups Esanex Inc. and Algaeon Inc. have received $500,000 and $250,000, respectively, from Indiana Seed Fund II,
BioCrossroads' second fund to help fledgling life sciences companies.
MoreOld National buying 24 branches from Bank of America
January 9, 2013
Bloomberg NewsBank of America Corp. plans to sell 24 branches in northern Indiana and southwest Michigan with about $779 million in deposits
to Old National Bancorp.
MoreU.S. banks to pay $8.5B in mortgage settlement
January 8, 2013
Associated PressHundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say
U.S. banks may be getting the best of the deal.
MoreInvestment strategists confront shrinking interest rates
January 5, 2013
Kathleen McLaughlinYou know the investing climate is unusual when a stock’s dividend yields more than bonds issued by the same company.
MoreColumbus-based mutual fund shines in 2012
January 5, 2013
Scott OlsonKirr Marbach's 'mid-cap blend' outpaces similar Indiana-based investments.
MorePROXY CORNER: Horizon Bancorp
January 5, 2013
IBJ StaffHorizon Bancorp, 515 Franklin Square, Michigan City, Ind. 46360, operates as Horizon Bank and Heartland Community Bank.
MoreCNO's Bonach has insurance firm back on offense
January 5, 2013
Chris O'MalleyCNO Financial Group’s stock price has nearly doubled since Ed Bonach took the helm in October 2011. Some analysts that
follow the successor to Conseco Inc., which a decade ago was the nation’s third-largest Chapter 11 bankruptcy reorganization,
now regard CNO as an attractive value play.
MoreMicrolenders aim to help businesses grow, survive
January 5, 2013
Andrea Muirragui DavisIndiana has three certified, not-for-profit SBA microloan intermediaries, which not only make short-term microloans—as
any lender can—but also use the SBA grants they receive to offer business coaching along with the financing.
MoreStock buyback continues at CNO
January 5, 2013
IBJ StaffThe Carmel-based owner of Bankers Life and other insurance companies has seen its stock rise as it restructures debt.
More'Cliff' deal sends stocks up, but problems lurk
January 2, 2013
Associated PressThe "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to send
the stock market shooting higher Wednesday, the first trading day of the new year.
MoreDespite deal, taxes to rise for most Americans
January 2, 2013
Associated PressWhile the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase,
most of them will still end up paying significantly more federal taxes in 2013.
MoreAfter cutting debt, Emmis lines up $100M refinancing
December 28, 2012
Greg AndrewsThe Indianapolis-based media company had been carrying debt far above market rates, some as high as 23 percent. It also was
facing tens of millions of dollars in debt maturities in 2013 and 2014.
MoreDeveloper loses fraud appeal
December 28, 2012
Scott OlsonThe Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as
he tried to save his real estate development firm.
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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.