Banking & Finance

After tough August, investors face scary September

September 2, 2013
Associated Press
September is traditionally the stock market's worst month of the year, but there are several unique events in store over the next few weeks that could make trading even more turbulent.
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Omnicity lured teen to invest, state saysRestricted Content

August 31, 2013
Chris O'Malley
State securities regulators allege that principals of Omnicity Corp. goaded a 19-year-old to invest $100,000 from his inheritance into the wireless broadband firm so that it could clinch the purchase of an Ohio carrier in 2010.
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State pension fund's performance falls short of targetRestricted Content

August 31, 2013
Kathleen McLaughlin
With more money in bonds than in publicly traded stocks, Indiana’s $27.1 billion pension fund took a beating in the Bernanke sell-off and closed the fiscal year short of its targeted return.
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IU prof's study suggests putting shareholders on the lineRestricted Content

August 31, 2013
Chris O'Malley
Despite tougher federal laws aimed at curbing executive malfeasance, a study by an Indiana University professor advocates making shareholders more responsible for watching management—or facing financial penalties themselves.
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Hauke fraud victims to get $1M in initial restitution

August 30, 2013
 IBJ Staff
Former money manager Keenan Hauke was sentenced in July 2012 to 10 years in federal prison after pleading guilty to running a Ponzi scheme that defrauded 67 investors of $7.1 million. Even more victims have emerged since the sentencing.
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Brokerage giant settles discrimination lawsuit

August 28, 2013
Associated Press
Hundreds of black financial advisers have reached a $160 million settlement in a lawsuit accusing Wall Street brokerage giant Merrill Lynch of racial discrimination, a plaintiffs' attorney said Wednesday.
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NCAA investment portfolio climbs to $527 million

August 27, 2013
Bloomberg News
College sports’ governing body grew its investment portfolio to $527 million for the year ended June 30, with an 11-percent gain in its $304.5 million quasi-endowment and an 8.8-percent return in its $222.5 million operating reserve.
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State pension board change cuts retiree payouts

August 27, 2013
Associated Press
Indiana lawmakers grilled the head of the state's pension system Tuesday on a decision to push future retirees into a market-based system that could almost halve the amount they earn from annuity plans.
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SEC charges Noblesville man in $6M investment scheme

August 26, 2013
 IBJ Staff
John K. Marcum, 49, portrayed himself as a trader and asset manager to raise more than $6 million from at least 37 investors in six states through his company, Guaranty Reserves Trust, the SEC alleges.
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SEC accuses Indy cancer firm of being a sham

August 26, 2013
J.K. Wall
The SEC says the CEO of locally based biomedical firm Xytos Inc. has committed securities fraud since 2010 by repeatedly publishing false information to investors about the company. Timothy Cook denies the accusations.
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Pioneer in online banking thriving on diversificationRestricted Content

August 24, 2013
Chris O'Malley
First Internet Bancorp shares are up 105 percent for the year. Founder David Becker said the Indianapolis-based bank has been careful to be geographically diversified in its real estate holdings.
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NASDAQ breakdown ramps pressure to take actions

August 23, 2013
Associated Press
The latest high-tech disruption in the financial markets ratchets up the pressure on NASDAQ and other electronic exchanges to take steps to avoid future breakdowns and manage them better if they do occur.
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Brownsburg town council head named new state auditor

August 15, 2013
Associated Press
Indiana Gov. Mike Pence announced Thursday morning he had selected Dwayne Sawyer for the position. Sawyer has been a member of the Brownsburg Town Council since 2009 and became its president last year.
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Indiana Members adds small credit union to its fold

August 15, 2013
 IBJ Staff
Indiana Members, which has 24 branches and $1.3 billion in assets, will grow by one branch and $17 million in assets.
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Indiana senator to push for municipal bankruptcy law

August 3, 2013
Associated Press
A northwestern Indiana lawmaker says he will push a measure next year that would change state law to allow local governments to file for bankruptcy like Detroit did in July.
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Newcomer banks slice into 'overheated' Indianapolis marketRestricted Content

August 3, 2013
Chris O'Malley
Newer entrants are chasing market share with convenient hours, quick decisions and narrower niches of customers.
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Indiana state banks regaining pre-meltdown assetsRestricted Content

August 3, 2013
Chris O'Malley
Recovery doesn't mean banks have escaped challenges.
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DUNCAN: Dodd-Frank hems in many nonbank lendersRestricted Content

August 3, 2013
David Duncan / Special to IBJ
'Dealer markups' in jeopardy in push to protect consumers.
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City Securities' stumble opens door to rivalsRestricted Content

August 3, 2013
Chris O'Malley
City Securities Corp. has dominated the Indiana municipal bond market for decades, but the firm’s recent $580,000 settlement with the U.S. Securities and Exchange Commission could give issuers pause and competitors a foot in the door in the underwriting business.
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Life sciences venture capital dips againRestricted Content

August 3, 2013
J.K. Wall
Venture capital surged in the first half of 2012, to $51.6 million in Indiana. But the pace of activity here fell off sharply in the second half of last year, and remained sluggish into 2013.
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New front opens in family battle over Mel Simon fortuneRestricted Content

August 3, 2013
Greg Andrews
Bren Simon is pushing hard for a distribution from the estate now, citing as precedent an Indiana Court of Appeals ruling in another case that “as a matter of policy, beneficiaries should not be starved of distributions to which they are undisputably entitled.”
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CNO Financial gung-ho on share buybacksRestricted Content

August 3, 2013
The Carmel-based financial services company said that, during the second quarter, it repurchased $59.4 million of its securities, including 4.4 million common shares for $50 million.
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Venture capitalist Neff replacing Evans as AIT chief

August 2, 2013
Greg Andrews
It's the latest in a string of leadership changes at the testing lab. Neff is coming from CHV Capital, the venture capital arm of Indiana University Health, where he had been CEO.
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Local brokerage Goelzer reaches $500,000 settlement with SEC

August 1, 2013
Jeff Newman
Indianapolis-based Goelzer Investment Management Inc. has agreed to pay $500,000 to settle SEC charges that it misled many of its clients over a period of 13 years, costing them hundreds of thousands of dollars in trading fees.
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Regulators: JPMorgan owes $410M for price manipulation

July 30, 2013
Associated Press
The Federal Energy Regulatory Commission said the bank used improper bidding strategies to squeeze excessive payments from two power grid operators, including the Midcontinent Independent System Operator, which is based in Carmel.
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  1. Those of you yelling to deport them all should at least understand that the law allows minors (if not from a bordering country) to argue for asylum. If you don't like the law, you can petition Congress to change it. But you can't blindly scream that they all need to be deported now, unless you want your government to just decide which laws to follow and which to ignore.

  2. 52,000 children in a country with a population of nearly 300 million is decimal dust or a nano-amount of people that can be easily absorbed. In addition, the flow of children from central American countries is decreasing. BL - the country can easily absorb these children while at the same time trying to discourage more children from coming. There is tension between economic concerns and the values of Judeo-Christian believers. But, I cannot see how the economic argument can stand up against the values of the believers, which most people in this country espouse (but perhaps don't practice). The Governor, who is an alleged religious man and a family man, seems to favor the economic argument; I do not see how his position is tenable under the circumstances. Yes, this is a complicated situation made worse by politics but....these are helpless children without parents and many want to simply "ship" them back to who knows where. Where are our Hoosier hearts? I thought the term Hoosier was synonymous with hospitable.

  3. Illegal aliens. Not undocumented workers (too young anyway). I note that this article never uses the word illegal and calls them immigrants. Being married to a naturalized citizen, these people are criminals and need to be deported as soon as humanly possible. The border needs to be closed NOW.

  4. Send them back NOW.

  5. deport now

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