Banking & Finance

Hamilton County woman pleads guilty to securities fraud

August 19, 2010
Dorothy Geisler-Tragardh, who had been a partner in a clean-coal energy company called Praxis Resource Partners LLC, was accused of running a stock-sale scheme in which she took nearly $2 million from investors.
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Bank On Indy initiative nearing first-year goal

August 19, 2010
Program that aims to reach local population without bank accounts so far has helped more than 7,500 people open an account.
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Fair Finance trustee finds lots of debts, few assets

August 14, 2010
Greg Andrews
Tim Durham, Fair’s co-owner and CEO, burned through staggering sums on a lavish lifestyle, loans and gifts to friends, and loans to businesses he partly owned that performed dismally.
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HICKS: Expectations can't erase sluggish recoveryRestricted Content

August 14, 2010
Mike Hicks
While the economy continues to recover, the pace is agonizingly slow. The reasons for this are becoming clear.
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Two Indianapolis accounting firms make top 100 list

August 14, 2010
 IBJ Staff
Katz Sapper & Miller LLP and Blue & Co. LLC again are the only two local accounting firms to crack Inside Public Accounting’s annual top-100 list.
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Tim Durham closes New Castle restaurant

August 13, 2010
Greg Andrews
A sign on the door of Durhams Ristorante says the moderately priced Italian eatery will be "closed until further notice."
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Will third time be a charm for Emmis?

August 13, 2010
Scott Olson
Emmis shareholders are set to vote again Friday night on taking the company private, but the proposal could be in jeopardy if a deal is not reached soon, says one investment expert.
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Lawmaker wants Durham donations returned

August 12, 2010
 IBJ Staff and Associated Press
State Rep. Ed DeLaney of Indianapolis said Thursday that contributions of more than $800,000 by Indianapolis businessman Timothy Durham should be sent to a bankruptcy trustee for Ohio investment firm Fair Finance Co., which was forced into bankruptcy earlier this year.
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Schrenker to plead guilty to securities fraud

August 12, 2010
 IBJ Staff and Associated Press
A former money manager convicted of trying to fake his own death in a Florida plane crash last year has agreed to plead guilty to securities fraud charges in Indiana. Marcus Schrenker would face 10 years in prison.
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Edward Jones eyeing Indianapolis expansion

August 12, 2010
The St. Louis-based financial services firm plans to add 62 branches within the next five years here to complement the existing 90 locations it already has in the city and surrounding counties.
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AIG sells American General unit to Fortress at loss

August 11, 2010
Bloomberg News
American International Group Inc. has agreed to sell a majority stake in its Evansville-based consumer lending unit, getting rid of an operation that posted about $1.7 billion in operating losses since 2008 and accumulated more than $17 billion in debt.
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Judge refuses to unseal Fair Finance search warrants

August 10, 2010
Greg Andrews
Judge Sara Lioi ruled the right of access to search warrant records connected with an ongoing investigation is “not absolute” and not justified in this case.
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JPMorgan's wealth advisory group led from Indianapolis

August 7, 2010
Peter Schnitzler
Elizabeth Schlueter started out in Fort Wayne and rose through a series of promotions that landed her not on Wall Street but in Indianapolis.
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First Merchants, First Financial mull expansionRestricted Content

August 7, 2010
Norm Heikens
Acquisitions situate banks to seek market share in Indianapolis.
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Finish Line founders giving up their extra voting powerRestricted Content

August 7, 2010
Greg Andrews
The influence of founders’ families in public companies usually wanes over time. But few firms accelerate the process, as Finish Line is doing.
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HICKS: What silly bands say about the value of things

August 7, 2010
Mike Hicks
There are economic lessons here. The most important is that the value of things is necessarily determined by what is known in econo-jargon as utility.
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Emmis delays vote on buyout again

August 6, 2010
Anthony Schoettle
As preferred shareholders continue holdout, Emmis postpones vote to take company private. Issue will be taken up again Aug. 13.
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Trustee pressing Daniels, others to return Durham's donations

August 5, 2010
J.K. Wall
Trustee Brian Bash has sent letters to politicians who he says received a total of $900,000 in funds Durham had borrowed from the coffers of Fair Finance, a now-bankrupt investment firm based in Ohio.
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Trustee: Durham used Fair funds for gambling, donations

August 3, 2010
Greg Andrews, Associated Press
The bankruptcy trustee said Durham spent $2.8 million on gambling and resorts, $3.3 million on interior decorating and $14 million on real estate.
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Hoosier firms find cutting costs no substitute for growthRestricted Content

July 31, 2010
Greg Andrews
The gains amid economic malaise are impressive, but also unsustainable. Companies can’t continue to grow earnings forever based on cost-cutting.
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Indiana life sciences companies capture more venture capital money in first half of 2010

July 31, 2010
 IBJ Staff
Venture dollars for Hoosier companies are still few, but the flow of deals is picking up.
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HICKS: Twenty years later, the impact of Desert StormRestricted Content

July 31, 2010
Mike Hicks
Wartime familiarity should make us more tolerant of our differences and care more for one another's children.
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First Internet Bank reports strong second quarter

July 29, 2010
Fewer loan losses and an increase in net-interest income help the bank post one of its biggest quarterly profits in company history.
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Life sciences deals pick up momentum

July 28, 2010
J.K. Wall
Venture dollars for Indiana life sciences companies are still few, but the flow of deals is picking up. Nine Hoosier companies scored investments totaling $10.4 million during the first six months of the year.
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Old National improves second-quarter performance

July 26, 2010
The Evansville-based bank reported a 9-percent increase in second-quarter profit, helped by a continued reduction in non-interest expenses and growth in commercial loan and business checking account activity.
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