Banking & Finance

PROXY CORNER: First Merchants Corp.

May 15, 2010
 IBJ Staff
First Merchants Corp. is a bank holding company that operates offices in Indiana and Ohio. For the year ended Dec. 31, 2009, the company reported a net loss of $45.7 million, or $2.17 per diluted share, on $281.6 million in revenue.
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HICKS: Fear, not economics, drives immigration debateRestricted Content

May 8, 2010
Mike Hicks
Mexico is in the throes of a violent lawlessness that is spilling over into the United States. Dealing with this is neither racist nor unconstitutional.
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Lender wants Hansen & Horn receivership terminated

May 6, 2010
Scott Olson
Salin Bank argues that it wants to "control its own destiny" by selling 49 lots the homebuilder defaulted on rather than have court-appointed receiver coordinate the sale.
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Report: Examiners failed to curb risky lending at Irwin Union

May 5, 2010
 IBJ Staff and Bloomberg News
The now-defunct Irwin Union Bank and Trust almost tripled in size from 2000 to 2005 as it extended credit to subprime mortgage borrowers with insufficient collateral.
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Emmis finds loophole for board on Smulyan buyout

May 1, 2010
Greg Andrews
State law normally requires board approval for buyouts. But the language cited in the letter of intent provides an exception for conflicts of interest or special circumstances.
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SKARBECK: Diversifying not sure fix for Lilly Endowment woesRestricted Content

May 1, 2010
Ken Skarbeck
Lilly Endowment has been a substantial Lilly stockholder for 73 years, so to focus on the past decade is a mistake.
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HICKS: How competition sped up broadband adoptionRestricted Content

May 1, 2010
Mike Hicks
Our study found that simply permitting deregulation of cable TV caused a pleasing increase in broadband adoption.
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Sale of Memory Gardens restores $20M in trust funds

April 30, 2010
Acquisition by Indianapolis-based funeral home and cemetery business by Pennsylvania-based company will preserve funds depleted by former owner.
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State finalizes auction-rate securities settlements

April 29, 2010
Scott Olson
Twelve investment firms agree to repurchase auction rate securities from Indiana clients for a total of over $370 million and to pay fines totaling more than $3.5 million.
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First Internet Bank profitable in first quarter

April 26, 2010
The Indianapolis-based parent company of First Internet Bank of Indiana said on Monday that it earned $2.2 million in the first quarter, compared with a loss during the same time frame last year.
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Old National improves first-quarter performance

April 26, 2010
 IBJ Staff
Evansville-based Old National Bancorp on Monday reported a first-quarter profit of $10.1 million, up 84 percent from the prior-year period and a big improvement from the fourth quarter of 2009, when the company posted a loss of $9.3 million.
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Clarian hospital system regains its appetite to buildRestricted Content

April 24, 2010
J.K. Wall
Clarian is planning to spend $1.7 billion in the next five years on capital projects, half of that going to its downtown Indianapolis campuses.
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A new real estate crisis could wreck recoveryRestricted Content

April 24, 2010
Greg Andrews
Borrowers may not be able to refinance many of the more than $1.4 trillion in commercial real estate mortgages coming due by the end of 2014.
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HICKS: Unemployment situation brings up questionsRestricted Content

April 24, 2010
Mike Hicks
Perhaps the biggest problem is in estimating who is in and not in the formal work force. Even in good times, a surprising number of workers labor in the shadow economy, invisible to government statisticians.
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PNC Financial's quarterly profit falls on bailout repayment

April 22, 2010
 IBJ Staff and Associated Press
PNC Bank has about 80 bank branches and 1,100 employees in the Indianapolis area, all doing business under the National City name.
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Ohio congressmen seek to raid Indy defense accounting jobs

April 21, 2010
Chris O'Malley
U.S. Reps. Kucinich and LaTourette say about 225 Marine Corps IT jobs belong in Cleveland instead of Indianapolis.
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Huntington Bancshares reports first profit since 2008

April 21, 2010
 IBJ Staff and Bloomberg News
Huntington National Bank, a subsidiary of Huntington Bancshares, operates nearly 50 branches and has about 600 employees in the Indianapolis area.
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Lender suffers own painful loss after homeowner's deathRestricted Content

April 17, 2010
Greg Andrews
A home that fetched $1.6 million in 2005 fetched a mere $370,000 when the lender sold it last year.
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Struggling firms stash away losses to cut future taxesRestricted Content

April 17, 2010
Peter Schnitzler
Conseco expects its write-offs will be worth more than $800 million over the next 20 years.
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SKARBECK: Finding one last lesson in Grace's amazing taleRestricted Content

April 17, 2010
Ken Skarbeck
Grace held her investment through many ups and downs in the stock market. But most important to her was that Abbott as a business continued to thrive, despite the swings in its stock price.
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Former basketball players accuse firm of investment fraud

April 16, 2010
Peter Schnitzler
Three Serbian players, two of whom spent time in the NBA, allege Carmel-based Worldwide Associates LLC mismanaged over $12 million.
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Fair Finance trustee sues Dan Laikin for $19M

April 13, 2010
Greg Andrews
The suit against Laikin, a longtime friend of Fair Finance CEO Tim Durham, is the first major legal move to untangle the morass of related-party loans that propelled the company into insolvency.
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Centaur's junior lenders press for bankruptcy liquidation

April 13, 2010
Peter Schnitzler
Unsatisfied with the Hoosier Park owner's reorganization plan, hedge funds represented by Wells Fargo Bank petition for conversion of Chapter 11 bankruptcy into Chapter 7.
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Path to Fair Finance funds full of detours, roadblocksRestricted Content

April 10, 2010
Greg Andrews
The troubles at U.S. Rubber Reclaiming demonstrate the challenges a bankruptcy trustee faces in trying to recover money for investors.
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Pew study questions health of Indiana's public pensions

April 10, 2010
 IBJ Staff
The Washington, D.C.-based Pew Center on the States says Indiana “needs improvement” in setting aside money for retirees’ future health care and other benefits.
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  1. Now if he'd just stay there...

  2. Daniel - what about the many US citizens who do NOT follow what the Bible teaches? The Hindus, Jews, Muslims and others who are all American citizens entitled to all rights as Americans?? This issue has NOTHING to do with "What the Bible says..." Keep all Churches separate from State! Pence's ongoing idiocy continues to make Indiana look like a backwards, homophobic state in the eyes of our nation. Can't we move on to bigger issues - like educating our kids?

  3. 1. IBJ should link to the referenced report. We are in the age of electronic media...not sharing information is lazy. Here is a link http://www.in.gov/gov/files/Blue_Ribbon_Panel_Report_July_9_2014.pdf 2. The article should provide more clarity about the make-up of this panel. The commenters are making this item out to be partisan, it does not appear the panel is partisan. Here is a list of the panel which appears to be balanced with different SME to add different perspectives http://www.in.gov/activecalendar/EventList.aspx?view=EventDetails&eventidn=138116?formation_id=189603 3. It suggests a by-pass, I do not see where this report suggests another "loop". 4. Henry, based on your kneejerk reaction, we would be better off if you moved to another state unless your post was meant as sarcasm in which case I say Well Done. 5. The article and report actually indicates need to improve rail and port infrastructure in direct contradiction to Shayla commentary. Specifically, recommendation is to consider passenger rail projects... 6. People have a voice with their elected officials. These are suggestions and do not represent "crony capitalism", etc. The report needs to be analyzed and the legislature can decide on priorities and spending. Don't like it, then vote in a new legislature but quit artificially creating issues where there are none! People need to sift through the politics and provide constructive criticism to the process rather than making uninformed comments in a public forum based on misinformation. IBJ should work harder to correct the record in these forums when blatant errors or misrepresentations are made.

  4. Joe ... Marriage is defined in the Bible ... it is mentioned in the Bible often. Marriage is not mentioned once in the US or Indiana Constitution ...

  5. Daniel - Educate me please: what does the Bible have to do with laws? If the government wasn't in the business of marriage to begin with, then it wouldn't have to "define" marriage at all. Marriage could be left as a personal, religious, or otherwise unregulated action, with no ties to taxes, legal status, etc. Then people could marry whomever they want, and all this silliness would go away. Remember to vote Libertarian in November.

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