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Banking & Finance
White River Capital's profit drops 33 percent
August 4, 2009
White River Capital Inc. today reported its profit in the second quarter fell 33 percent compared
to the same period last year, due primarily to expenses associated with its canceled merger.
MoreCemetery owner to plead guilty to theft, fraud
July 30, 2009
Scott OlsonA cemetery owner set to go on trial Monday has agreed to plead guilty to theft and securities fraud.
MoreCarmel's Dormir raises $12M from venture capital firms
July 29, 2009
J.K. WallCarmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million
in venture capital from three out-of-state firms. The company plans use the proceeds to acquire six to 10 companies this year
and more next year, according to CEO Tim Miller.
MoreConseco says profit in line with estimates
July 28, 2009
J.K. WallConseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
MoreGrain Dealers Mutual merges with Florida firm
July 28, 2009
Scott OlsonIndianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
MoreRegulators hike Irwin Union's capital requirements
July 27, 2009
Peter SchnitzlerRegulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.
MoreOld National profit falls, but beats expectations
July 27, 2009
Scott OlsonSecond-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
MoreBanks no longer in critical condition, but full recovery still distant
July 27, 2009
Scott OlsonThe banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
MoreBanks building new branches despite online age
July 27, 2009
Marc D. AllanBank transaction counts—the number of people going into banks to make a deposit, cash a check or
conduct some other form of business—have declined in recent years with the increased popularity
of direct deposit, online banking and easy ATM accessibility. So why add branches?
MoreWhite River Capital calls off First Chicago deal
July 27, 2009
IBJ StaffIndianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based
First Chicago Bancorp.
MoreINVESTING: High-frequency trading comes under scrutiny
July 13, 2009
Ken SkarbeckA developing case of technology theft has shed light on the proprietary systems Goldman Sachs and other investment firms
use to make millions of dollars. A 39-year-old former employee at Goldman has been accused of stealing computer
code used in the company’s high-frequency trading system.
MoreFifth Third taps new president of central Indiana operations
July 9, 2009
Scott OlsonCincinnati-based Fifth Third Bank yesterday named Nancy Huber president and CEO of its central Indiana operations in Indianapolis.
MoreNoblesville man sentenced for mortgage fraud
July 9, 2009
IBJ StaffA Noblesville man was sentenced to one year of home detention yesterday after pleading guilty to mortgage fraud in federal
court. Marvin G. Hampton also was ordered to pay $262,424.76 in restitution to three lending institutions.
MoreSKARBECK: More reforms sought for target-date funds
June 29, 2009
Ken SkarbeckTarget-date mutual funds, a popular investment vehicle in 401(k) plans and college savings plans, have recently come under
scrutiny by Congress and regulators. Investors are in an uproar over the recent poor performance of funds nearing their target
date.
MoreHalf of state's public-company CEOs saw pay rise in 2008
June 22, 2009
Peter SchnitzlerFor investors, 2008 was the worst year since the Great Depression. Even so, more than half of the state's public-company executives
saw the value of their pay packages rise from 2007—despite the fact that only 10 of the companies posted a positive total
return in 2008, and 46 companies shed more than one-third of their stock market value.
MoreHoosier named to lead CDC trade organization
June 1, 2009
Jean Wojtowicz, executive director of the Indiana Statewide Certified Development Corp., has been elected to chair the National
Association of Development Companies, or NADCO, board of directors.
MoreSKARBECK: Are bailouts creating a 'moral hazard'?
June 1, 2009
Ken SkarbeckWill individuals and institutions take excessive risks in the future, operating on the belief that the government will step
in to rescue them if they encounter problems?
MoreA bit of Lauth history
June 1, 2009
Regarding the May 25 story, ["Lauth granted reprieve,"] please note that Lauth Property Group is an offshoot of the original
company founded by myself and Terry Eaton in 1976. It was then known as Ernst/Eaton Associates.
MoreIndiana logs more complaints against collectors as pressure mounts to make debtors pay up
June 1, 2009
Sam StallA lot of people owe money these days, and some of the agencies hired to pursue them are resorting to old- school tactics to
collect. Things like calling at all hours, threatening to have debtors jailed or fired, or employing abusive language.
MoreLed by educators instead of investment specialists, state teachers fund fell into $67M hole
May 25, 2009
J.K. WallThe people overseeing the Indiana State Teachers Association Insurance Trust had no background in investments or insurance,
likely leaving them ill-equipped to grasp the ever-larger amounts of complicated investments the trust was buying.
MoreIn recession, commercial brokers struggle to determine property values
May 25, 2009
Chip CutterFew commercial real estate properties are changing hands in the Indianapolis area these days, creating challenges for brokers
who say it's becoming increasingly difficult to determine the value of properties.
MoreBanker's seat on board turns into bigger challenge
May 25, 2009
Greg AndrewsWithin a month of joining the board of Evansville's Integra Bank Corp. Mike Alley, former CEO of Fifth Third Bancorp's central
Indiana operations, had become Integra's interim CEO.
MoreOld National striving to be 'Indiana's bank'
May 18, 2009
Scott OlsonOld National's purchase of 65 Charter One branches deepens its foothold in Indy.
MoreMerchants Bank of Indiana is top home-grown bank
May 18, 2009
Peter SchnitzlerMerchants Bank of Indiana, whose main office is in Carmel, books better numbers than any other Hoosier bank.
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Cats out of the bag. The object of the game is to get acquired. That means the company has no idea how to grow beyond a certain point. Email is a 1990s technology. I have laughed at this company since day one. Such a small bit player. If it was anywhere but here, it wouldn't be newsworthy.
Esther, Indy has passed Chicago in the local government corruption arena. Don't downgrade us. We're No. 1 in the Midwest.
Does the buyer get to keep the recent Accu-Chek J.D. Power award? Be careful, those Swiss cannot be trusted. Last June they pimped Mayor Ballard and former Governor Daniels at a media op, announcing plans to invest "$300 million at its Indianapolis headquarters, creating up to 100 new jobs by 2017," only to turn around and close the Roche Nutley, NJ facility and eliminate 1000 jobs there later the same week. It seems that healthcare can be innovated only as long as money is to be made. Right now Roche seems to have big eyes for China: there are many Chinese in China and potential billions in Swiss francs! Since Roche is having difficulty with US insurance companies swallowing the bill for overpriced cancer drugs (with debatable efficacy) why not sell insurance to the Chinese and market the drugs to them there? There is a name for these sort of business practices however proper decorum precludes it use in this forum.
Same kind of Luddites who oppose I-69. Guessing their 501(c)(4) application probably sailed right through the IRS.