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Banking & Finance
Lilly'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.
MoreBank of Montreal targets Midwest, Indy for growth
June 26, 2012
IBJ Staff and Bloomberg NewsBank of Montreal's 2011 acquisition of Marshall & Ilsley Corp. is finally helping it make in-roads in the U.S. Midwest. It
has identified five U.S. markets, including Indianapolis, where it aims to add new branches or make acquisitions.
MoreJudge orders Durham, Cochran jailed until sentencing
June 25, 2012
Cory SchoutenConvicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice
Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
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Saw the Indy Men's Chorus "Music of Gilbert & Sullivan" at the Indiana Historical Society on Sunday evening.
Temporary workers are not "tools" they are people and companies that keep large amounts of temp staff are cheating.
I miss having them around. I hope one of their stores is in the general Meridian/86th Street area. I will make good use of it.
The Fringe! Plus, the simple fact that there are so many local faves in such close proximity to each other.
I remenber, watching the toll road, being built, through South Bend, when I was 10 years old. I believe, back then that it was estimated, that the toll road, would be paid for in 20 years and then it would be free. I am now 71, what happened? Since the power is in the people, by that, I mean that, we the people are in total control of everything. I, suggest that no one ever use the toll road again, let it go broke. We the people can control the price of everything, from groceries to gas, if we would just do it. If we don't pay the asking price, the sellers will lower the price and if we wait awhile, they will lower the price to what we accept as reasonable. I would like to know why a highway like interstate 94, is so well maintained, a much better highway, than the toll road, but has no tolls. I would also like to know why, a sitting governor, with a term limit, maximum of eight years, can lease, public property, for 75 years. Even though I have transponders in both of my trucks and will not be affected by the increase, I have been and will contine to avoid using the toll road. I make many trips from northern Indiana to Chicago, every year, and I prefer the better highway, I94!