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Banking & Finance
$22M foreclosure suit targets local apartment complexes
November 21, 2012
Scott OlsonThe three complexes are Dogwood Glen Apartments on the city's northwest side, Elmtree Park Apartments on the far-east side
and Heathmoore Apartments on the southeast side.
MoreIndianapolis receives $39M loan guarantee from HUD
November 20, 2012
The city will use the funding to establish a Community and Economic Loan Pool to provide financing for economic development
and housing rehabilitation initiatives to benefit people of low and moderate incomes.
MoreCarmel council approves refinancing package
November 19, 2012
IBJ StaffCarmel’s City Council on Monday night voted 7-0 to approve a proposal to refinance $195 million in debt incurred by
the Carmel Redevelopment Commission.
MoreCarmel project dogged by conflict questions
November 17, 2012
Kathleen McLaughlinAn executive ousted from the firm developing The Barrington in Carmel alleges that the $142 million retirement-community project
was driven by conflicts of interest.
MoreBattered Broadbent climbs back from brink
November 10, 2012
Cory SchoutenOne of the city’s best-known retail developers is alive and kicking again after a harrowing real estate downturn and
protracted legal battle with two lenders.
MorePROXY CORNER: First Financial Corp.
November 10, 2012
Terre Haute-based First Financial Corp. is the holding company for First Financial Bank, The Morris Plan Co. of Terre Haute
and Forrest Sherer Insurance. It operates more than 60 banking offices in Indiana and Illinois.
MoreHealth insurance stocks flop after Obama wins second term
November 8, 2012
Associated PressHealth insurance stocks sank deeper than the broader market Wednesday after President Barack Obama's re-election helped
clarify the future of his health care overhaul, a sweeping law that some investors fear will pinch profits.
MoreInvestor accused of defrauding burned-down church
November 8, 2012
Associated PressFederal prosecutors have filed fraud charges against an investor who they say misspent nearly $400,000 that leaders of an
Indianapolis church gave him as it tried to raise more money to rebuild from a fire.
MoreWellPoint shares droop despite profitable quarter
November 7, 2012
Bloomberg NewsWellPoint Inc.'s third-quarter earnings trumped Wall Street expectations, but the health insurer's stock tumbled Wednesday
after President Barack Obama won re-election, a victory that could help cement the future of his health care overhaul.
MoreStocks rise as investors wait for a winner
November 6, 2012
Associated PressMajor stock-market indexes climbed Tuesday as investors waited for the finish of a closely fought U.S. presidential election.
MoreTwo Indianapolis office buildings in foreclosure
November 5, 2012
Scott OlsonThe buildings on the northwest side of the city total nearly 200,000 square feet and are owned by an affiliate of a company
that operates 12 cemeteries and four funeral homes throughout Indiana.
MoreSpeech recognition technology firm gets cash infusion
November 3, 2012
Waveform Communications LLC got its second round of funding for research and development.
MoreSettlement talks afoot in Mel Simon estate brawl
November 3, 2012
Greg AndrewsAttorneys for Mel’s daughter Deborah asked a Hamilton County judge to put discovery deadlines on hold and vacate the
July 2013 trial date while the parties negotiate a “memorandum of understanding.”
MoreState fund invests $600,000 in neutron-detection company
November 2, 2012
The Indiana's 21st Century Fund investment will help PartTec Ltd. commercialize its technology. The money will be co-invested
with $1.2 million in private funds.
MoreBaldwin & Lyons profits rise on fewer storm losses
November 1, 2012
Indianapolis-based Baldwin & Lyons Inc. continues to improve on its 2011 results, recording after-tax profit of $11.7
million, or 78 cents a share, for the third quarter.
MoreIndianapolis accounting firm settles with Fair Finance trustee
November 1, 2012
Kathleen McLaughlinSomerset CPAs PC will pay $500,000 to settle litigation brought by the bankruptcy trustee of Fair Finance Co., the Ohio-based
firm that convicted financier Tim Durham used to conduct a major Ponzi scheme.
MoreDurham lawyer balks at proposed 225-year sentence
November 1, 2012
Greg AndrewsThe attorney for convicted Ponzi schemer Tim Durham argues that the presentencing report miscalculates the losses suffered
by investors, includes a range of allegations that weren’t proven at trial and blames his client for events outside
his control.
MoreLocal lawyer appointed federal bankruptcy judge
October 31, 2012
James M. Carr of the Indianapolis law firm Faegre Baker Daniels LLP has been appointed to a 14-year term effective Jan. 1.
His selection follows the recent appointment of Marion Superior Court Judge Robyn Moberly.
MoreIndiana businessman admits guilt in 2 fraud plots
October 29, 2012
Associated PressAn Indiana businessman has pleaded guilty to ripping off an Iowa company and duping investors in separate fraud schemes totaling
$2.3 million.
MoreStorm will keep financial markets closed Tuesday
October 29, 2012
Associated PressStock trading will be closed in the U.S. for a second day Tuesday as Hurricane Sandy bears down on the East Coast. Bond trading
will also be closed.
MoreCharter airline proposed by local entrepreneur on investment firm's radar
October 27, 2012
Chris O'MalleyLegacy Travel Club finds believer after months of fruitless fundraising locally.
MoreChurch caught up in nightmare after life insurance scheme sours
October 27, 2012
Kathleen McLaughlinThe Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction
on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later
on the secondary market.
MoreRapid rise of ExactTarget uplifting for young techies
October 27, 2012
Greg AndrewsIn just over a decade, the interactive marketer has rocketed from bootstrapped startup to New York Stock Exchange-listed company
with a market value of $1.5 billion.
MoreReport tallies local government debt loads
October 27, 2012
Kathleen McLaughlinA new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is
also likely to raise many questions.
MoreFlorida payroll provider moving to Indianapolis, adding 59 jobs
October 26, 2012
Beyond Payroll LLC, which said it will add the jobs by 2106, is leasing 2,000 square feet of space in the downtown Stutz Building.
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!