Banking & Finance

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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Bank says Durham had no right to sell Duesenberg

January 18, 2010
Greg Andrews
A legal brouhaha over the recent auction of a Duesenberg automobile by Tim Durham has taken a new twist, with Durham's bank charging the financier didn't have the right to sell the car in the first place.
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Ohio lawmaker wants Fair Finance owners' assets frozen

January 15, 2010
Greg Andrews
An Ohio congressman is upset the U.S. Attorney’s Office in Indianapolis isn’t seeking to freeze the assets of Fair Finance Co. owners Tim Durham and Jim Cochran.
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Brizzi silent on controversy as he opts against 3rd term

January 14, 2010
Greg Andrews
The written statement Carl Brizzi released Thursday saying he will not seek a third term as Marion County prosecutor makes no reference to the controversy surrounding his business and personal ties with embattled Indianapolis financier Tim Durham.
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Durham trailer-maker sued for nearly $1M

January 14, 2010
Greg Andrews
First Merchants Bank is seeking nearly $1 million from Tim Durham and his companies through a recently filed loan-default lawsuit.
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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