Banking & Finance

Struggling firms stash away losses to cut future taxesRestricted Content

April 17, 2010
Peter Schnitzler
Conseco expects its write-offs will be worth more than $800 million over the next 20 years.
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SKARBECK: Finding one last lesson in Grace's amazing taleRestricted Content

April 17, 2010
Ken Skarbeck
Grace held her investment through many ups and downs in the stock market. But most important to her was that Abbott as a business continued to thrive, despite the swings in its stock price.
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Former basketball players accuse firm of investment fraud

April 16, 2010
Peter Schnitzler
Three Serbian players, two of whom spent time in the NBA, allege Carmel-based Worldwide Associates LLC mismanaged over $12 million.
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Fair Finance trustee sues Dan Laikin for $19M

April 13, 2010
Greg Andrews
The suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass of related-party loans that propelled the company into insolvency.
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Centaur's junior lenders press for bankruptcy liquidation

April 13, 2010
Peter Schnitzler
Unsatisfied with the Hoosier Park owner's reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion of Chapter 11 bankruptcy into Chapter 7.
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Path to Fair Finance funds full of detours, roadblocksRestricted Content

April 10, 2010
Greg Andrews
The troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for investors.
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Pew study questions health of Indiana's public pensions

April 10, 2010
 IBJ Staff
The Washington, D.C.-based Pew Center on the States says Indiana “needs improvement” in setting aside money for retirees’ future health care and other benefits.
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AIG's American General unit said to be seeking $3B term loan

April 9, 2010
Bloomberg News
Bank of America Corp. is arranging a five-year loan that will be sold at a discount of 98 cents to 98.5 cents on the dollar, according to a source who declined to be identified because the discussions are private.
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Four charged with income tax fraud

April 7, 2010
A business owner and three people allegedly involved in a large mortgage fraud scheme face prison sentences for failing to report income or file certain tax forms.
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Indianapolis set for next wave of angel investorsRestricted Content

April 3, 2010
Norm Heikens
A wave of up-and-coming angel investors in the Indianapolis area are quietly accumulating the expertise and thick wallets necessary to back startups that are at once risky and rich with potential for lucrative returns.
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Some up-and-coming angel investorsRestricted Content

April 3, 2010
Dozens of people in the Indianapolis area have the potential and the interest to become angel investors in the next few years.
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SKARBECK: How Grace stayed patient under pressure to sellRestricted Content

April 3, 2010
Ken Skarbeck
When we left, we were trying to imagine a few of the many obstacles Grace might have encountered as her initial investment grew into $7 million over 74 years.
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Small-biz lending on the rise

April 1, 2010
Scott Olson
Federal loan programs that help fund company expansions are seeing more activity from program administrators in Indianapolis.
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Answer to Murat's naming-rights fight likely to be found in lease

March 30, 2010
Kathleen McLaughlin
The Murat Temple Association, a Shriners affiliate that owns the iconic building, is suing Live Nation and Old National Bank over a naming-rights deal announced March 16.
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Shriners sue Live Nation, Old National over Murat renaming

March 29, 2010
Kathleen McLaughlin
The Murat Temple Association is a Shriners affiiate that owns the Murat Centre, which on March 16 was renamed the "Old National Centre" in a three-year deal between the bank and Live Nation.
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Entrepreneurs lose clout as VC funds get stingier

March 27, 2010
Scott Olson
Most local venture funds are standing pat because the economy is weak and they’re no longer in fund-raising mode. Having invested most of their funds, the firms have shifted to the nurturing, or “harvesting” stage, to try to improve investment returns.
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Former Thomson plant back in bankruptcyRestricted Content

March 27, 2010
Cory Schouten
A Bloomington investor bought the sprawling complex out of receivership in 2008, and had hoped to spend more than $20 million to renovate it.
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Fair Finance co-owner charged with domestic battery

March 22, 2010
Greg Andrews
The embattled businessman was booked into the Hamilton County Jail following an incident Saturday morning at his Geist Reservoir home.
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Big guns behind Allos Ventures tech fund

March 20, 2010
Chris O'Malley
The region’s blossoming technology sector is about to get another shot of financial fertilizer. The newly formed Allos Ventures has raised $20 million from investors and plans to focus on early-stage tech companies.
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Mysterious $14M Verizon payable looms over Durham firmRestricted Content

March 20, 2010
Greg Andrews
CLST Holdings founder Al Goldfield says the company hid a $14 million debt to Verizon Communications Inc. in the years after he left.
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SKARBECK: Amazing patience paid off for GraceRestricted Content

March 20, 2010
Ken Skarbeck
Back in 1935, she invested $180 in Abbott Laboratories stock and never sold it. This one decision became the entire investment career of Grace Groner.
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Indiana Legislature approves mortgage certification program

March 20, 2010
 IBJ Staff
Rating system will help homebuyers avoid the risks of borrowing.
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Old National cut CEO's pay 10.6 percent last year

March 19, 2010
Peter Schnitzler
The Evansville-based bank, the largest financial institution headquartered in Indiana, awarded Robert Jones $1.2 million in total compensation last year, or $146,177 less than in 2008.
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Old National name to adorn Murat for three years

March 16, 2010
Kathleen McLaughlin
The century-old Murat Centre will be named the Old National Centre for the next three years. Event promoter Live Nation on Tuesday put the new name in royal blue lettering above the marquee of the entertainment venue downtown.
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Custom builders, banks convene to discuss lending environment

March 16, 2010
Tom Harton
The Builders Association of Greater Indianapolis is trying to jump-start new home construction by convening a forum on how builders can adapt to banks’ stricter lending requirements.
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