Banking & Finance

Ex-councilor Bateman agrees to plead guilty to fraud charges

January 23, 2013
J.K. Wall
Paul C. Bateman Jr., a former Democrat city-county councilor, agreed to plead guilty Wednesday to 13 counts of money laundering and wire fraud for his part in defrauding an Indianapolis physician of $1.7 million.
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Local buyout firm acquires New York shapewear maker

January 23, 2013
 IBJ Staff
Indianapolis investment firm E&A Industries has acquired a fast-growing New York apparel firm specializing in body-slimming fashions, the companies announced Tuesday.
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Local tooling manufacturer acquired by private-equity firm

January 21, 2013
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
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New tool could drive down employers' health care costsRestricted Content

January 19, 2013
J.K. Wall
Ten of Indiana’s largest employers—including the state of Indiana; Cummins Inc.; CNO Financial Group Inc.; Indiana, Purdue and Butler universities; and Indiana University Health—think they have hit upon a solution.
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HHGregg ratchets back, but analysts still uneasyRestricted Content

January 19, 2013
Greg Andrews
HHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.
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Indiana firms see big drop in venture funding

January 18, 2013
J.K. Wall
Venture capital investments in Indiana dropped off in 2012, but local investors see the market here steadily gaining strength.
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Leader of fraud scheme pleads guilty to 20 counts

January 17, 2013
Scott Olson
Michael Russell faces between 57 and 71 months in prison for defrauding an Indianapolis investor of $1.7 million. Two associates, Paul Bateman, a former City-County councilor, and Manuel Gonzalez, have pleaded not guilty and are set for trial Feb. 11.
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Indiana liberal arts colleges strategize to survive perfect stormRestricted Content

January 12, 2013
J.K. Wall
Colleges are experimenting with business models at a time when the ability of students and their families to pay are dropping dramatically, and endowments and scholarship funds remain depressed.
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Farmers seek rescue from unexpected property tax hitRestricted Content

January 12, 2013
Kathleen McLaughlin
New soil-productivity factors issued by the Department of Local Government Finance last year would have raised tax collections an average 18.5 percent this year.
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Emmis' well-paid CEO signs on for 3 more yearsRestricted Content

January 12, 2013
Greg Andrews
CEO Jeff Smulyan's supporters praise him for repositioning Emmis during a harrowing stretch for the media industry. Detractors complain about his hefty compensation.
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Analyst cuts Cummins rating, citing rise in shares

January 11, 2013
Associated Press
Analyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
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BioCrossroads seed fund makes first investments

January 10, 2013
Local startups Esanex Inc. and Algaeon Inc. have received $500,000 and $250,000, respectively, from Indiana Seed Fund II, BioCrossroads' second fund to help fledgling life sciences companies.
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Old National buying 24 branches from Bank of America

January 9, 2013
Bloomberg News
Bank of America Corp. plans to sell 24 branches in northern Indiana and southwest Michigan with about $779 million in deposits to Old National Bancorp.
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U.S. banks to pay $8.5B in mortgage settlement

January 8, 2013
Associated Press
Hundreds of thousands of Americans stand to benefit from the latest mortgage-abuse settlement, but consumer advocates say U.S. banks may be getting the best of the deal.
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Investment strategists confront shrinking interest ratesRestricted Content

January 5, 2013
Kathleen McLaughlin
You know the investing climate is unusual when a stock’s dividend yields more than bonds issued by the same company.
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Columbus-based mutual fund shines in 2012Restricted Content

January 5, 2013
Scott Olson
Kirr Marbach's 'mid-cap blend' outpaces similar Indiana-based investments.
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PROXY CORNER: Horizon Bancorp

January 5, 2013
 IBJ Staff
Horizon Bancorp, 515 Franklin Square, Michigan City, Ind. 46360, operates as Horizon Bank and Heartland Community Bank.
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CNO's Bonach has insurance firm back on offenseRestricted Content

January 5, 2013
Chris O'Malley
CNO Financial Group’s stock price has nearly doubled since Ed Bonach took the helm in October 2011. Some analysts that follow the successor to Conseco Inc., which a decade ago was the nation’s third-largest Chapter 11 bankruptcy reorganization, now regard CNO as an attractive value play.
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Microlenders aim to help businesses grow, survive

January 5, 2013
Andrea Muirragui Davis
Indiana has three certified, not-for-profit SBA microloan intermediaries, which not only make short-term microloans—as any lender can—but also use the SBA grants they receive to offer business coaching along with the financing.
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Stock buyback continues at CNORestricted Content

January 5, 2013
 IBJ Staff
The Carmel-based owner of Bankers Life and other insurance companies has seen its stock rise as it restructures debt.
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'Cliff' deal sends stocks up, but problems lurk

January 2, 2013
Associated Press
The "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year.
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Despite deal, taxes to rise for most Americans

January 2, 2013
Associated Press
While the tax package that Congress passed New Year's Day will protect 99 percent of Americans from an income tax increase, most of them will still end up paying significantly more federal taxes in 2013.
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After cutting debt, Emmis lines up $100M refinancing

December 28, 2012
Greg Andrews
The Indianapolis-based media company had been carrying debt far above market rates, some as high as 23 percent. It also was facing tens of millions of dollars in debt maturities in 2013 and 2014.
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Developer loses fraud appeal

December 28, 2012
Scott Olson
The Indiana Court of Appeals affirmed Christopher White's 2009 conviction, resulting from a $500,000 bad check he wrote as he tried to save his real estate development firm.
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Former Lifestyle gym building target of foreclosure

December 28, 2012
Scott Olson
The owner of the building at 4225 E. 82nd St. owes $4.9 million on a $7.4 million loan, according to the suit. The tenant, Lifestyle Family Fitness, closed the location in November 2011.
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