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Banking & Finance
Judge rejects Fair Finance attorneys' fee request
July 26, 2012
Scott OlsonThe compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it
recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier
Tim Durham.
MoreWellPoint shares sink after profit misses analyst estimates
July 25, 2012
Bloomberg NewsWellPoint Inc. stock fell more than 12 percent Wednesday after the insurer's quarterly earnings missed analyst estimates and
it trimmed its full-year forecast.
MoreLilly's quarterly profit falls, but tops analyst expectations
July 25, 2012
Bloomberg NewsEli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook
for the rest of the year.
MoreSimon boosts dividend, outlook after strong second quarter
July 24, 2012
IBJ Staff and Bloomberg NewsThe Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's
also ratcheting up growth by investing overseas.
MoreArea couple's bankruptcy filing lists $18.5M in debt
July 23, 2012
Scott OlsonAn Indianapolis-area couple that operated more than two dozen companies—including one that provided financial counseling—has
filed for bankruptcy, listing $18.5 million in debt that includes unpaid business loans and mortgages for homes in Florida
and Wyoming.
MoreSix banks that owe Treasury walk TARP tightrope
July 21, 2012
Kathleen McLaughlinSix of the 17 Indiana banks that relied on the federal government to shore up their balance sheets in the recession have yet
to repay, and the U.S. Treasury isn’t going to wait forever.
MorePROXY CORNER: The Finish Line Inc.
July 21, 2012
The Finish Line Inc., 3308 N. Mitthoeffer Road, Indianapolis, www.finishline.com, is a specialty retailer of brand-name athletic
and leisure footwear, activewear and accessories.
MoreVenture funding falls 12 percent in second quarter
July 20, 2012
Associated PressFunding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals
than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest
level in more than a decade.
MoreFirst Internet Bancorp reports higher earnings
July 19, 2012
First Internet Bancorp, parent of Indianapolis-based First Internet Bank, said Thursday that profit rose 55 percent in the
second quarter compared with the year-ago period.
MorePNC earnings sink on soured home mortgages
July 18, 2012
Associated PressPNC Financial Services Group Inc. said Wednesday its second-quarter net income shrank 41 percent, as the bank set aside hundreds
of millions of dollars to buy back home mortgages.
MoreChase Tower's $201M sale price sets record
July 14, 2012
Cory SchoutenA publicly traded real estate investment trust has agreed to pay $201 million for the tallest building in Indiana, a price
that could give a boost to the local investment market.
MoreRegional investing conference heavy on Indiana banks
July 14, 2012
Event organizers say Wall Street isn't the only place to drum up interest in stocks.
MoreMeridian CPAs folding into larger Somerset firm
July 13, 2012
Four principals and about a dozen other staff accountants and support staff at Meridian will join Somerset in August. Somerset
is Indianapolis' seventh-largest accounting firm, based on the number of local full-time employees.
MoreMore U.S., Indiana homes facing foreclosure risk
July 12, 2012
Associated PressMore than 1 million properties experienced foreclosure filings in the first half of 2012. Twenty states saw a first-half rise
in foreclosure activity from the same time a year ago. Indiana had the biggest rise on a percentage basis, with a 32-percent
increase in foreclosure activity.
MoreOld National names ex-Indiana chief justice as director
July 9, 2012
Associated PressOld National Bancorp has appointed former Indiana Chief Justice Randall Shepard to its board of directors.
MoreHauke receiver files suit against his former accounting firm
July 9, 2012
Scott OlsonThe lawsuit accuses convicted money manager Keenan Hauke's former accounting firm of negligence for failing to monitor Hauke's
bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
MoreShelbyville racino operator settles with ex-manager Cordish
July 9, 2012
Bloomberg NewsThe operator of Indiana Grand Casino and Indiana Downs horseracing track in Shelbyville has reached a $3.5 million settlement
with the property’s former manager, The Cordish Co., that helps pave the way for its reorganization.
MoreBrightPoint's $840M sale ends wild ride for CEO Laikin
July 7, 2012
Greg AndrewsBob Laikin started BrightPoint in 1989, when cellular phones were clunky and brick-like and were mostly for the wealthy.
MoreHeartland Bancshares approves acquisition by Horizon
July 7, 2012
The deal, effective July 17, will give the Michigan City bank its first presence in Central Indiana.
MoreHofmeister files bankruptcy reorganization plan
July 6, 2012
Dan HumanHofmeister Personal Jewelers Inc. plans to pay off its creditors over seven years as part of the well-known Indianapolis retailer’s
bankruptcy restructuring.
MoreLawsuit: Smulyan angling for Emmis buyout
June 30, 2012
Greg AndrewsJeff Smulyan has been considering a new plan to buy out other Emmis Communications Corp. shareholders—a deal that could
clear the way for him to finally take the Indianapolis media company private. But Emmis’ founder and CEO insists he
has no plans to do so.
MoreIndiana to hold securities brokers more accountable
June 29, 2012
Associated PressSecretary of State Connie Lawson said the new provisions will help her office provide better protection to investors.
MoreCommission to recommend more limits on local TIFs
June 28, 2012
Kathleen McLaughlinA study commission on tax-increment financing will vote Thursday evening on a set of policy recommendations that would limit
the use of TIF districts in Indianapolis.
MoreState, former Colts invest in Fishers software provider
June 27, 2012
Kathleen McLaughlinThe state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company
announced this week.
MoreHeat wave wilting corn supplies, boosting prices
June 27, 2012
Bloomberg NewsCorn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just
as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
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In my opinion the estridge companies are crooks. They filed bankruptcy on their 'track housing' side of the business two weeks before they closed on one of my clients' homes. When my client first interviewed Estridge as a builder 6 months before, they specifically ASKED about the solvency of their business, knowing that some builders were struggling. Estridge truly misrepresented their financial situation at that time. I suppose I am more unhappy with the whole system than I am with the builder because what the heck==you can file bankruptcy on 'track homes' but still keep building and make money off of 'custom built' homes??? How ridiculous! They are all homes. How can a company be allowed to bilk thousands of dollars from their subcontractors but still be allowed to build houses?? they should have been made to pay back all their unpaid contractors before being allowed to profit from building any more houses! This alone makes them and the system crooks in my eyes. I would never build an estridge home and I would not recommend for my clients either. If they were truly 'bankrupt' how could they afford to keep building homes anyway??? The whole system needs fixed.
I live a couple blocks east of the Angie's campus and my house is assessed for ~$160,000. If I could get that amount, let alone $384,000 (a 140% bonus), I'd sell in a minute. Either Angie's stockholders just got fleeced, or Angie's is getting about a 58% discount on their property taxes, if these properties are actually worth what they paid Mr. Oesterle for them. Which do you think is the case?
Perhaps the IMA board is really to blame! They agreed to hire Charles. They can't seemingly find donors among themselves, or bring in new blood that will support the museums operating budget with an expanded museum and money to provide curators with something to do (ie buy art). The headlines of disarray at the museum and mass firings are hurting the reputation of the museum for some time to come. If people on the board had misgivings, perhaps they shpuld have more forcefully opposed efforts that they have seemingly been unable to fund, like expansion and the costs it has created!
See, I told u Indyman and Dipsicle....this 8 days is overkill. It's barely worth a weekend....great job Tony George! Your dream has been fulfilled....he fans want the I r l back. Thats how good it was.....and that sucked.
I have been in training for a short time now but right off I can see that safety and quality are the number one issues, my experience as of late has been a positive one, the employees along with Jeff the plant manager and the operation supervisor as well as the engineers are a highly motivated group of people, what an asset for the area to have and for company's in need of a quality metal products.