Banking & Finance

Conseco shares soar on hedge-fund investment

October 14, 2009
J.K. Wall
Shares of Carmel-based life insurer soared as much as 26 percent, to $6.30 apiece, in morning trading after New York-based Paulson & Co. agreed to buy $78 million in Conseco stock and $200 million in company bonds.
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Study: Taxing services could yield state $6.8B

October 12, 2009
Peter Schnitzler
The non-partisan Indiana Fiscal Policy Institute this morning released a new study exploring the ramifications of expanding the state's sales tax to include services.
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Securities firm Stifel Nicolaus balks at fraud charge

October 10, 2009
Peter Schnitzler
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds were clients of Jeff Cohen.
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My Health Care Manager lands $3 million investmentRestricted Content

October 10, 2009
Peter Schnitzler
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
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FDIC fee hitting small banks particularly hardRestricted Content

October 3, 2009
Scott Olson
Fees imposed on U.S. banks to rebuild a Federal Deposit Insurance Corp. fund nearly depleted by scores of bank failures is expected to sap profits of small financial institutions. Community banks with less income than their larger counterparts are particularly at risk of having their 2009 earnings erased by the charges after an emergency fee on banks took effect June 30.
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A pair of community banks see loan woes escalateRestricted Content

October 3, 2009
Greg Andrews
Community Bank of Noblesville and Blue River Bancshares Inc. of Shelbyville have seen loans sour at a rate that might have seemed unimaginable before the housing market tanked and the recession set in.
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Stock-market rebound lifts hopes of Hoosier mutual fundsRestricted Content

October 3, 2009
Peter Schnitzler
The economic downturn walloped all three of the mutual funds headquartered in Indiana. But they've each enjoyed significant recoveries this year. And the smallest of the bunch has big plans to break away from the pack.
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EDITORIAL: Program gives people a financial leg up

October 3, 2009
 IBJ Staff
Nearly 80,000 people in the city are “unbanked” and therefore lack this basic building block to financial health. A new program called Bank on Indy aims to change that.
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SKARBECK: Trading in failed firms really isn't 'investing'

October 3, 2009
Ken Skarbeck
Who is “investing” in these stocks and why? It is safe to say they are not investors who have done the exhaustive work of valuing the assets and liabilities, who then reached a conclusion that they were getting good value for their money.
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SEC fines former CFO of American Commercial Lines

October 3, 2009
 IBJ Staff
Christopher A. Black, a former investment banker in Indianapolis and former chief financial officer of Jeffersonville-based river barge transportation firm American Commercial Lines Inc., has agreed to pay a $25,000 fine to settle a Securities and Exchange Commission investigation.
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Exterior work on bank tower wraps up with Regions sign

October 3, 2009
 IBJ Staff
The Regions Bank name and logo are joining the city’s skyline atop One Indiana Square, also known as Regions Bank Tower.
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Banks work to protect electronic records from identity theft

October 3, 2009
Peter Schnitzler
Banks are fighting an ongoing battle with would-be identity thieves. Because banks are where the money is, the fight is likely to go on a long time, with both thieves and banks growing in sophistication.
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State charges Stifel Nicolaus didn't disclose risks of auction-rate securities

October 1, 2009
 IBJ Staff
An administrative complaint filed today by the Indiana Secretary of State's Office alleges Stifel Nicolaus failed to disclose risks associated with the sale of auction-rate securities to 141 Hoosiers who invested $54.9 million.
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Purdue student-inventor nabs VC on TV show

September 30, 2009
 IBJ Staff
A Purdue University student who invented a soy-based modeling dough walked away with a $300,000 investment after appearing Tuesday on the ABC show "Shark Tank."
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Spurned Sponsel creates own CPA firm

September 29, 2009
Scott Olson
A longtime partner of Indianapolis-based Greenwalt Sponsel & Co. Inc. has left the accounting firm and started his own after he said it became apparent he would not become managing partner.
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Carmel company plans to expand, add employees

September 28, 2009
Dealer Services Corp. announced Monday morning that it plans to create up to 60 jobs by the end of 2012 and invest $6.4 million in its Carmel headquarters.
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Widow likely biggest beneficiary of Simon's estate

September 26, 2009
Peter Schnitzler
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more, wealth managers speculate, based on the legal and tax issues involved in such a large estate.
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A battered stock market is no reason to stop investing for a college educationRestricted Content

September 26, 2009
Scott Olson
It's no time to be cautious about investing for a college education. Rather, the drop in the stock market presents an ideal time to be aggressive.
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New Indiana law requires schools to teach financial acumen

September 26, 2009
Peter Schnitzler
Indiana Superintendent of Public Instruction Tony Bennett plans to meet a state mandate to offer financial instruction by incorporating the topic in the classroom via real-world example.
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Entrepreneur hopes real estate venture will rebuild neighborhoods, fund charitiesRestricted Content

September 26, 2009
Kathleen McLaughlin
David Sexauer has $250,000 and a list of about 120 properties he’d like to acquire from the city of Indianapolis.
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PITTSFORD: Business ownership brings stability and greater financial rewardsRestricted Content

September 26, 2009
Gary Pittsford
Owning your own business is more attractive today than ever, especially if you are in your 20s or 30s.
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COX: Converting to a Roth IRA offers considerable tax breaksRestricted Content

September 26, 2009
Jay Cox
The deadline for converting traditional individual retirement accounts to Roth IRAs arrives at the end of the 2009.
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HICKS: Stimulus job creation has been surprisingly small

September 26, 2009
Mike Hicks
Earlier this month, the Obama administration released its estimate of the impact of the fiscal stimulus on job creation.
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Ex-Lampoon exec Dan Laikin admits to stock fraud

September 23, 2009
Greg Andrews
Carmel businessman Dan Laikin pleaded guilty this afternoon to participating in a fraudulent scheme to pump up the stock price of National Lampoon Inc., the Los Angeles-based entertainment company he led.
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Old National prices offering at $10 per share

September 23, 2009
Scott Olson
Evansville-based Old National Bancorp said yesterday that it has priced its public offering of 18 million shares of company stock at $10 per share.
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