Banking & Finance

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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Irwin Financial files for bankruptcy liquidation

September 21, 2009
Peter Schnitzler
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining assets of the troubled banking company.
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Unfinished federal bailout sealed Irwin's failure

September 21, 2009
Peter Schnitzler
Up to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
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Old National selling stock to fund potential purchases

September 21, 2009
Scott Olson
Evansville-based Old National Bancorp said this morning that it is selling $150 million of its stock in a public offering and will use some of the proceeds to fund potential acquisitions.
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Developer Broadbent sues banks after they tighten credit line

September 19, 2009
Peter Schnitzler
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re wrongly attempting to restrict its access to a $50 million credit line.
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MANN: Commercial real estate is next mortgage crisisRestricted Content

September 19, 2009
Brian Mann
The cresting wave of maturing commercial real estate debt is the second act in our nation's credit crisis.
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SKARBECK: Hedge fund superstars take it on the chin

September 19, 2009
Ken Skarbeck
Lauded as "masters of the universe," the star investment managers overseeing the largest hedge funds built huge expectations they couldn't fulfill.
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HICKS: Chinese tariff is misstep toward trade war

September 19, 2009
Mike Hicks
Just a short year ago, economists of all stripes voiced fears of a rise in economic protectionism like that which contributed mightily to the Great Depression.
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Regulators close Irwin banking operations

September 18, 2009
 IBJ Staff
State and federal regulators shut down the two banking subsidiaries of ailing Irwin Financial Corp. of Columbus. The action makes Irwin Union Bank and Irwin Union Bank FSB the first financial institution failures in Indiana since steep losses hit the industry last year.
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Irwin Financial admits outlook dire

September 16, 2009
Greg Andrews
Shares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it to bolster its capital by the end of the month to levels "it has no realistic prospect of achieving."
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Ex-Lauth executive: 'Every day is a struggle' after a year of unemploymentRestricted Content

September 12, 2009
Cory Schouten
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008. Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
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HICKS: Post-recession policies matter more than theory

September 12, 2009
Mike Hicks
There's a wonderful fight brewing between some of the world's best-known economists.
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Indiana Fiscal Policy Institute seeks comebackRestricted Content

September 5, 2009
Peter Schnitzler
The Indiana Fiscal Policy Institute’s board has hired Indianapolis Star business columnist John Ketzenberger to engineer a resuscitation.
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Rash of bank failures sure to spread to IndianaRestricted Content

September 5, 2009
Greg Andrews
Not a single Indiana bank has failed since the sector tanked last year. But Bob Jones, CEO of Old National Bancorp in Evansville, figures it’s only a matter of time.
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Developer Lauth's bankrupt units win round in courtRestricted Content

September 5, 2009
Cory Schouten
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals to retain control of three subsidiaries in Chapter 11 bankruptcy.
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SKARBECK: Iceland offers case study of economy out of controlRestricted Content

September 5, 2009
Ken Skarbeck
Nowhere else on the stage of global economics was financial boom and bust more surreally scripted than in the small isolated country of Iceland.
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Oak Street Funding raises $50 million in new capital

September 5, 2009
 IBJ Staff
German group invests in Carmel-based company that specializes in financial services for insurance agencies.
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Former business owner Hockett sentenced for bank fraud

August 31, 2009
Scott Olson
A federal judge this morning sentenced a former Indianapolis business owner to 18 months in prison after he pleaded guilty to bank fraud in May.
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Fitch strips Indianapolis of prized AAA bond rating

August 29, 2009
Peter Schnitzler
Fitch and other rating agencies are concerned that the phase-in of property tax caps will further strain the city's finances.
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Venture firms recapitalize Advanced Physical Therapy LLC

August 29, 2009
 IBJ Staff
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
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First Indiana deals stemmed from broader probe

August 25, 2009
Greg Andrews
The insider-trading settlements announced by the Securities and Exchange Commission this week were an outgrowth of a broader inquiry into trading in First Indiana Corp. by dozens of people before its sale two years ago, according to a former director of the bank.
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HICKS: As classes begin, students have fresh opportunity

August 24, 2009
Mike Hicks
Classes start this week at Ball State University, and other colleges and universities across the country. For many, it is a bittersweet moment, as parents say goodbye to their now young adults, handing them over to professors and scarily youthful resident hall assistants for safekeeping.
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  1. The $104K to CRC would go toward debts service on $486M of existing debt they already have from other things outside this project. Keystone buys the bonds for 3.8M from CRC, and CRC in turn pays for the parking and site work, and some time later CRC buys them back (with interest) from the projected annual property tax revenue from the entire TIF district (est. $415K / yr. from just this property, plus more from all the other property in the TIF district), which in theory would be about a 10-year term, give-or-take. CRC is basically betting on the future, that property values will increase, driving up the tax revenue to the limit of the annual increase cap on commercial property (I think that's 3%). It should be noted that Keystone can't print money (unlike the Federal Treasury) so commercial property tax can only come from consumers, in this case the apartment renters and consumers of the goods and services offered by the ground floor retailers, and employees in the form of lower non-mandatory compensation items, such as bonuses, benefits, 401K match, etc.

  2. $3B would hurt Lilly's bottom line if there were no insurance or Indemnity Agreement, but there is no way that large an award will be upheld on appeal. What's surprising is that the trial judge refused to reduce it. She must have thought there was evidence of a flagrant, unconscionable coverup and wanted to send a message.

  3. As a self-employed individual, I always saw outrageous price increases every year in a health insurance plan with preexisting condition costs -- something most employed groups never had to worry about. With spouse, I saw ALL Indiana "free market answer" plans' premiums raise 25%-45% each year.

  4. It's not who you chose to build it's how they build it. Architects and engineers decide how and what to use to build. builders just do the work. Architects & engineers still think the tarp over the escalators out at airport will hold for third time when it snows, ice storms.

  5. http://www.abcactionnews.com/news/duke-energy-customers-angry-about-money-for-nothing

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