Banking & Finance

Local investment firm sold

February 12, 2010
Indianapolis-based Redwood Investment Advisers Ltd. has been purchased by a firm in Portland, Ore. Redwood, whose clients include physicians and physician groups, has $350 million in assets under management.
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Judge weighing request to unseal Fair Finance records

February 11, 2010
 IBJ Staff
A federal judge is weighing whether to unseal search-warrant documents related to the federal investigation of businessman Tim Durham and Akron, Ohio-based Fair Finance Co. following a hearing Thursday in Youngstown, Ohio.
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Fair Finance going along with appointment of receiver

February 11, 2010
Greg Andrews
Attorneys for the company and its parent firm denied any fraud occurred but said receivership nonetheless made sense.
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Durham-backed firm to halt trading, dissolve

February 10, 2010
Greg Andrews
Dallas-based CLST Holdings Inc. has struggled, and its shares trade for a mere 9 cents apiece.
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Fair Finance investors force company into bankruptcy

February 8, 2010
Greg Andrews
Investors in Tim Durham’s Fair Finance Co. shoved the company into bankruptcy court Monday morning, a move intended to reduce the risk assets will disappear while securities fraud probes continue.
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Health care venture capital swoons in Indy, holds steady statewide

February 6, 2010
 IBJ Staff
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009.
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SKARBECK: Biglari's ambitious, but he's no BuffettRestricted Content

February 6, 2010
Ken Skarbeck
While Sardar Biglari's effort to duplicate Warren Buffett is clear, some of the Steak n Shake chief's moves have been superficial.
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Fair Finance investors file motion for receiver to control assets

February 4, 2010
Greg Andrews
The motion filed in an Ohio court is aimed at preventing funds from disappearing while investigations continue.
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PNC to pay back bailout money, sell division

February 3, 2010
 IBJ Staff and Associated Press
PNC, which operates dozens of bank branches in the Indianapolis area under the National City name, is selling its global investment servicing business to Bank of New York Mellon Corp. for $2.3 billion.
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Health firms still attracting venture capital

February 3, 2010
J.K. Wall
The uncertainty of health care reform and a bad economy curtailed venture capital flow in 2009. That trend hit Indianapolis, but the rest of the state actually saw an increase.
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Fair Finance investors aim ire at U.S. attorney

January 30, 2010
Greg Andrews
Ohio residents who put money into Tim Durham's company want the U.S. Attorney's Office to seize his and the company's assets.
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Unsung Manning sibling a player in investment field

January 29, 2010
Bloomberg News
Cooper Manning, brother of Super Bowl winners Peyton and Eli, is a big success in his own right as a broker of energy stocks. But you'll rarely hear him mention the sibling connection to his clients, or that he's buddies with Drew Brees.
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Fair Finance investors fear money is disappearing

January 27, 2010
Greg Andrews
Ohio residents who attended investor meeting say recovering funds hinges on locking down assets that remain.
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Durham yacht up for sale; asking price $4.8 million

January 26, 2010
Greg Andrews
Indianapolis financier Tim Durham's famed 98-foot yacht is up for sale for $4.8 million. Durham has been selling some of his holdings in recent months as financial pressures have intensified after the FBI raided his offices in Indiana and Ohio.
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Additional deals that didn't make the mergers-and-acquisitions list

January 23, 2010
These deals had no price tag, but still were significant.
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One exec pays off risky loan, another pays a big priceRestricted Content

January 23, 2010
Greg Andrews
Emmis' Jeff Smulyan paid off a loan collateralized by nearly all his Emmis stock. Retired Duke Realty Chairman John Wynne is facing new fallout from his margin loan, with the lender on his Williams Creek home pursuing foreclosure.
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Magazine ranks Old National Bank among nation's strongest performersRestricted Content

January 23, 2010
 IBJ Staff

Forbes magazine has named Evansville-based Old National Bank the nation’s 18th-best-performing bank.

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SKARBECK: Stocks that pay dividends can provide yield, safetyRestricted Content

January 23, 2010
Ken Skarbeck
These are challenging times for savers who demand a high level of safety from their investments.
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Auer Growth Fund, other Hoosier mutual funds, build on strong 2009 performances

January 23, 2010
 IBJ Staff
Local fund briefly held first place among all U.S. small-cap blended mutual funds tracked by Morningstar Inc.
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Market on three-day losing streak

January 22, 2010
Bloomberg News
U.S. stocks sank again Friday, extending the market's biggest three-day tumble since March, as financial shares slumped on President Obama's plan to rein in banks.
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Indiana businesses are welcoming investment from ChinaRestricted Content

January 22, 2010
Peter Schnitzler
Some observers see a parallel to the state's seeking Japanese investment following recession in the early 1980s.
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Simon says husband's shrinking fortune spurred new will

January 21, 2010
Greg Andrews
Bren Simon says in a new court filing that her billionaire husband Mel Simon granted her a bigger share of his fortune in the last year of his life because of alarm over Simon Property Group's plunging stock price and a sharp cut in its cash dividend.
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PNC profit rises despite growing loan losses

January 21, 2010
Associated Press
The bank's $1.01 billion in profit and its $5.08 billion in revenue were better than analysts expected.
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Court affirms receiver for Michelle Schrenker's assets

January 19, 2010
Scott Olson
Indiana Court of Appeals agrees with lower court's decision to appoint receiver to oversee finances of ex-wife of convicted money manager Marcus Schrenker.
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HALO shines on IT upstart

January 19, 2010
Chris O'Malley
Policy management firm PolicyStat lands venture investment from HALO Capital Group, the angel investor network managed by TechPoint. HALO has invested a total of $12.5 million in firms statewide in the past 20 months.
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