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Banking & Finance
NFP of NOTE: Momentive Consumer Credit Counseling Services
December 1, 2008
Momentive Consumer Credit Counseling Services work to change lives by helping people gain financial stability.
MoreCompanies face pension-plan shortfalls
November 24, 2008
Chris O'MalleyPrivate employers that still offer traditional pension plans are getting a big shock as they assess how much more it will
cost to shoulder retirement obligations.
MoreGreensfork Township State Bank to acquire local startup that failed to live up to high hopes
November 24, 2008
Cory SchoutenA rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.
MoreAutomotive Finance Corp. writes off $162 million, reflecting slow auto sales
November 24, 2008
Chris O'MalleySlowing auto sales have forced Carmel-based Automotive Finance Corp., which lends money to car dealers to buy used vehicles
at auction, to take a big write-off on the declining value of its loan portfolio.
MoreLean companies have best chance to survive
November 24, 2008
Jean WojtowiczMake your business look as attractive as possible to your banker because you are competing for financing with other small
businesses.
MoreFed's TARP changes adding to anxieties
November 17, 2008
Ken SkarbeckExperts with the Troubled Asset Relief Program, the government's financial bailout program, are struggling to figure out how
best to relieve America's financial mess.
MoreFormer Conseco director liable for some unpaid stock loans
November 17, 2008
J.K. WallDennis E. Murray Sr. was declared liable in October by U.S. District Court Judge Larry J. McKinney for at least some of the
millions of dollars he borrowed to buy Conseco stock in the late 1990s.
MoreDBSI, an Idaho company with Indiana properties, faces class-action suit
November 10, 2008
Cory SchoutenDBSI, an Idaho real estate firm with 250 properties worth $2 billion faces a class-action suit. Some of its properties and investors are in Indianapolis.
Lending, deposits increase at credit unions despite subpar economy
November 3, 2008
Cory SchoutenWhile many banks were getting drunk on loose lending in the last few years, most credit unions stuck to conservative lending
and other plain-vanilla banking practices.
MoreTurbulent times spell opportunity for small businesses
November 3, 2008
Connie ShepherdHealthy banks have adopted stronger risk prevention measures for good reasons, but it's important to know that well-performing
banks are still writing loans for small business and servicing their needs every day.
MoreBailout helping PNC take over NatCity
November 3, 2008
Cory SchoutenAfter a 17-year run in Indianapolis, National City's trademark green signs are set to be replaced with the blue of Pittsburgh-based
PNC Financial. The $5.6 billion deal raises questions about the government's growing involvement in banking.
MoreMarket plunge makes investments in good firms a bargain
November 3, 2008
Ken SkarbeckThe stock market rout that began in September and picked up steam in October has taken some quality companies to prices that
are the cheapest they have been in decades.
MoreHospitals suffer from spiking bond interest rates, investment losses
November 3, 2008
J.K. WallIndianapolis-area hospitals have suffered a double whammy of spiking interest rates on their bonds and heavy losses in their
investment portfolios and are trying to save cash any way they can.
MorePlan trustees under increasing scrutiny
November 3, 2008
Steve WylamTimes have changed and now plan trustees must ask themselves, "Am I wiling to take the chair" and defend
my actions,
or lack thereof, in a court of law?
MoreAccounting firms preparing for new international standards
November 3, 2008
Scott Olson For corporations with a global presence, the transition to International Financial Reporting Standards should streamline
the world's financial reporting system.
MoreVIEWPOINT: Throw crooks in jail, fire dummies
October 27, 2008
Mark E.The $700 billion bailout of our country's financial system may be necessary, but it ultimately will prove useless unless real
change is enacted to prevent a repeat performance of this fiasco. What the American people should be demanding is for someone
to give them a clear explanation of what really happened to create the financial mess. Remember, after the market crash of
2000, the Wall Street research scandal (where nearly every Wall Street firm admitted to lying to clients through...
MoreFor funding, developers may need to think outside box: Amid tight credit markets, getting a project built often takes alternative
financing sources, creative approaches
October 27, 2008
Scott OlsonAlthough the spigot of bank financing has slowed to a trickle, money to fund commercial development projects remains available
from alternative sources. Just ask David Amick, executive director of Premier Capital Corp., a local lender that uses federal
funds to help finance expansions. "We've got money to lend," he said. "I've got that [message] hung on the door." The fragile
credit markets have nearly diminished the ability of companies to borrow. But lenders such as Amick insist the money is...
MoreEx-Lilly executives open 'trials' clinic: Centurion expects high demand from drug firms
October 20, 2008
Scott OlsonA new clinic that is on the cusp of conducting human trials in Indianapolis could distinguish itself as a key player in drug
development, not only within the state, but nationally as well. Centurion Clinical Research LLC serves pharmaceutical companies
and medical-device makers that need to test their products before they can be approved for widespread use. That first phase,
in which healthy people are paid to participate in the overnight studies, is critical in determining the safety and success...
MoreBEHIND THE NEWS: Lechleiter went toe to toe with Icahn to cut megadeal
October 20, 2008
Greg AndrewsEli Lilly and Co. had been salivating over ImClone Systems Inc. for more than two years when, on July 25 of this year, its
senior executives received a formal staff recommendation to contact the company and make an overture. So it must have come
as quite a jolt to Lilly brass when, just six days later, Bristol-Myers Squibb announced that it was offering to buy the 83
percent of ImClone it didn't already own for $60 a share, or $4.5...
MoreEDITORIAL: Lilly looks forward with ImClone deal: CEO Lechleiter taking bold steps
October 13, 2008
Lilly looks forward with ImClone deal CEO Lechleiter taking bold steps It's premature to pass judgment on Eli Lilly and Co.'s
$6.5 billion plan to acquire biotech firm ImClone Systems Inc., but the giant deal is one more sign that relatively new CEO
John Lechleiter isn't afraid to make bold moves on Lilly's behalf. The local drugmaker agreed Oct. 6 to pay $70 a share for
New York-based ImClone, maker of blockbuster cancer drug Erbitux, outbidding an earlier offer of...
MoreNervous banks cut off some borrowers, tighten reins on others
October 6, 2008
Cory SchoutenLocal companies that rely on credit have seen their borrowing power shrink and in some cases disappear as a deep freeze in the nation's credit markets drives fears of a broad economic slowdown. A handful of businesses, including a Greenwood security firm and an Indianapolis contractor, already have shut down after credit dried up, and others are on the ropes as troubled banks seek to limit their loan exposure.
Turmoil thrashes regional banks: As economy weakens, big local players fight to keep capital, customers' confidence
October 6, 2008
Cory SchoutenA rush of government-aided acquisitions has bestowed a too-big-to-fail halo over the likes of JP Morgan Chase, Bank of America
and Citigroup. But what about the formidable regional banks that operate more than half the bank branches in the Indianapolis
area? How stable are banks like National City, Huntington, Fifth Third, Key, M&I and Regions? Their shares have endured a
rough ride on Wall Street, but there's little evidence the ups and downs reflect the true health of the institutions....
MoreArcadia banking on DailyMed: Company hopes product sales can help it escape debt, lift stock
October 6, 2008
Peter SchnitzlerWhen Arcadia Resources Inc. moved from Southfield, Mich., to Indianapolis last fall, the Indiana Economic Development Corp.
crowed with pride. In exchange for incentives worth more than $6 million, the state had landed the headquarters of a publicly
traded life sciences firm with more than 5,000 employees. Even better, the company was ready to launch an innovative new product
that promises to improve home health care while simultaneously reducing its cost. A year has passed, but investors still aren't
as...
MoreEYE ON THE PIE: Crisis pits fairness against urgency
October 6, 2008
Morton MarcusAs these words are written, we do not know what Congress will decide to do about the mortgage mess. But it is clear folks
are angry about the inequity of rescuing borrowers, lenders or traders with funding from the pockets of the innocent. Among
the "villains" are home buyers who took on mortgages they could not afford. Also marked for sanctions are over-eager lenders,
highly paid executives, and those who dealt in "innovative" financial products linked to mortgages. Those who...
MoreVIEWPOINT: Think you can move fast? Look at China
September 29, 2008
Jacqueline A.This month, I am making my 50th trip to China. My first trip was in 1995 to identify a possible Chinese partner for a manufacturing
joint venture in Nantong. When the potential partner honored me by serving a coiled snake as one of the main dishes, I thought,
"What am I doing here?" But that's what change is all about-delving into the unfamiliar. Four years later, we had found a
trusted partner, signed a joint venture agreement, located the proper...
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So the Mayor adds another non value added layer to having a vehicle towed? Whereby the City Government RECIEVES AN ILLEGAL KICKBACK FROM A LGOISTICS COMPANY THAT SUBS THE WORK TO LOCAL TOW COMPANIES? What is the service the City performs for receiving the "tribute"? This is RICO!!!!! What a corrupt and unnecessary layer. What a dirtbag Mayor and his cronies.
Owner occupied housing. Clear enough?
So people think I am paranoid. It's from experience in dealing with puds requested by developers who make major donations themselves to representatives, have nice fund raisers for those running for office and hide through pac's. then there are the public relation firms. You will note some pr comments below. You there Clyde Lee? My opinion. Commercial along 421, great. Multifamily housing, terrible idea that will change the town. Senior condos or zero lot line homes west, great. I suggest keeping all entries to commercial areas at 421. All entries to owner occupied on sycamore. Will keep the traffic on sycamore down some. Two other things. You can't trust what will be there in 10 years. Steve builds quality stuff, but areas change over time. Look at the changes at the wall mart center at 86th and 421 over the last 10 years. Look at the apartments and neighborhoods behind St Vincent's. Raintree properties WILL decrease in value if commercial and multifamily goes in near. It has already been happening around the bridges area. The houses that have been sold recently are way below market. Several deals not closed due to the Illinois construction and the whole unsurety of the bridges. It's pretty simple, Zionsville will approve the whole thing because the city council has been groomed over a LONG period of time for this. I might even suggest some are in their position as a result of this.
Esta, do you have a dog in this fight? You seem to really want to knock anyone against this project. No, I didn't move to Indiana for the architecture. I moved here for that red barn in the field. The horses and fields of corn. A place that is NOT overdeveloped. There are plenty of nearby places in Indianapolis that could be REDEVELOPED instead.
RKW - OK, we get it, you're paranoid. The question is, are you paranoid enough? Greg - Yes, Pittman(s) is (are) at it again. They are developers, they build things. It's what they do. So when you go to work tomorrow, Greg, you're at it again too. Cliff - Really? You moved to Indiana for its progressive architecture? That's like moving to England for the cuisine. Zionsvillain - The house you moved to was once a field or woods. I'm willing to bet folks were upset when that ground was plowed under and a house was built. But I guess now that you are in, everything should stop? "My house was OK, but the next one is sprawl." SE Guy - Please don't paint us with such a wide brush. Most reasonable Zionsville residents welcome planned, measured development.