Banking & Finance

PEARCE: More companies are focusing on consumers with poor credit ratings

December 12, 2009
Mike PearceMore

Hoosier Energy avoids financial brownoutRestricted Content

December 12, 2009
Chris O'Malley
Hoosier Energy, which supplies electricity to customers in 48 counties in central and southern Indiana, has settled a dispute that had threatened to plunge the utility into bankruptcy.
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Loss of partner at accounting firm Greenwalt Sponsel results in new name

December 12, 2009
 IBJ Staff
The firm is now Greenwalt CPAs following the departure in September of Tom Sponsel, who launched Sponsel CPA Group.
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Fair Finance press release leaves investors hanging

December 11, 2009
Greg Andrews
The statement says the company anticipates reopening its loan-collection arm, but offers no assurances to the Ohio investors it owes.
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Durham enlisted directors with personal, financial ties

December 5, 2009
Greg Andrews
Carl Brizzi's short stint as a Fair Finance director reflects a larger pattern in Tim Durham’s business dealings.
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$75M investment in ExactTarget may be Indianapolis recordRestricted Content

December 5, 2009
Chris O'Malley
The amount raised since October is in addition to the $69.9 million it received in May from three venture firms on the coasts, in what was the third-largest venture deal in the nation during the second quarter, according to the National Venture Capital Association.
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Class-action suit seeks millions for Fair Finance investors

December 4, 2009
Greg Andrews
Attorneys on Friday afternoon filed a class-action lawsuit seeking to rescind $200 million in investor purchases of Fair Finance Co. securities and to slap Tim Durham and other company insiders with millions of dollars in punitive damages.
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Ohio balks at Fair Finance's latest effort to register securities

December 4, 2009
Greg Andrews
Ohio securities regulators have asked for a mountain of additional information from Tim Durham's Fair Finance Co. that they say they would have to evaluate before deciding whether to allow the company to resume the sale of investment certificates.
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Indiana University launches $10M seed fund

December 4, 2009
Peter Schnitzler
The Innovate Indiana Fund will invest $5 million over the next five years to commercialize IU technologies and another $5 million to help IU-affiliated startups get off the ground.
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State sues teachers' union for securities fraud

December 2, 2009
J.K. Wall
The Indiana Secretary of State's securities division says Indiana State Teachers Association can't account for $23 million intended for school districts, requests assets be frozen.
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Clarian Federal Credit Union acquires Community Choice

December 2, 2009
 IBJ Staff
The combined firm will have more than 8,700 members and more than $20 million in assets.
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SEC probing Durham deal with Texas firm

December 1, 2009
Greg Andrews
A Texas company acknowledged Tuesday that the SEC is investigating transactions between it and Tim Durham's Fair Finance Co.
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Feds drop Durham asset-seizure suit

November 30, 2009
Greg Andrews
The federal government on Monday morning dropped a high-profile civil lawsuit seeking to seize Tim Durham's assets after receiving assurance they wouldn't vanish.
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Fair Finance offices fail to reopen

November 30, 2009
Greg Andrews
Fair Finance Co. remained closed Monday morning, adding to the anxiety of Ohioans who have purchased about $200 million of the company's investment certificates.
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Feds seek seizure of Durham's assets

November 28, 2009
Greg Andrews
The federal government has filed court papers seeking forfeiture of Tim Durham's property, including his 30,000-square-foot Geist home, another home in Los Angeles and his 2008 Bugatti sports car.
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Disclosures key to feds' probe of Durham's Fair Finance

November 28, 2009
Greg Andrews
Any case federal prosecutors pursue against Tim Durham or his associates likely would revolve around what his Fair Finance Co. disclosed—or didn’t disclose—to potential investors, legal observers said.
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Former Huntington National Bank exec alleges age discriminationRestricted Content

November 28, 2009
Peter Schnitzler
Michael Lewis, 53, filed a complaint with the Indianapolis office of the U.S. Equal Employment Opportunity Commission Aug. 13 and sued Huntington Oct. 15 in Marion Superior Court.
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Brizzi dropped plan to serve on board of Durham company

November 25, 2009
Greg Andrews
Marion County Prosecutor Carl Brizzi said he agreed this fall to serve on the board of Tim Durham’s Fair Finance Co., but changed his mind several weeks later after Durham told him a newspaper was working on an investigative story about the company.
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UPDATE: FBI searches Durham-owned company offices

November 24, 2009
Greg Andrews
Ohio securities regulators say Tim Durham's Fair Finance Co. won't be permitted to sell additional investment certificates unless it satisfactorily answers a series of questions about the company's ability to pay them back.
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FBI serves search warrants on Durham-owned companies

November 24, 2009
The FBI on Tuesday executed search warrants at two companies led by high-profile executive Tim Durham—Indianapolis-based Obsidian Enterprises Inc. and Akron, Ohio-based Fair Finance Co.
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Falling property prices fuel new wave of bank woes

November 21, 2009
Peter Schnitzler
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial real estate loans.
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Debt-shedding efforts start to pay off for BrightpointRestricted Content

November 21, 2009
Greg Andrews
The wireless phone wholesaler had survived two prior recessions and recognized the spoils in tough times go to companies with the strongest balance sheets.
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RELLER: Refinancings likely to undermine prices for commercial real estateRestricted Content

November 21, 2009
Ross Reller
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
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Top local money managers hedge against stagflationRestricted Content

November 21, 2009
Peter Schnitzler
Faced with the potential for another bout with stagflation, investment managers are scrambling to decide how to face a future when markets may again be thrown into turmoil by the two-headed monster of frisky price increases and crummy economic conditions.
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Some observers fear return of rising prices, stagnant growthRestricted Content

November 21, 2009
Peter Schnitzler
In the 1970s, stagflation—the unprecedented combination of stagnant economic growth and inflation—threatened to ruin financial institutions. Now some fear it might make a return.
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  1. I had read earlier this spring that Noodles & Co was going to open in the Fishers Marketplace (which is SR 37 and 131st St, not 141st St, just FYI). Any word on that? Also, do you happen to know what is being built in Carmel at Pennsylvania and Old Meridian? May just be an office building but I'm not sure.

  2. I'm sorry, but you are flat out wrong. There are few tracks in the world with the history of IMS and probably NO OTHER as widely known and recognized. I don't care what you think about the stat of Indy Car racing, these are pretty hard things to dispute.

  3. Also wondering if there is an update on the Brockway Pub-Danny Boy restaurant/taproom that was planned for the village as well?

  4. Why does the majority get to trample on the rights of the minority? You do realize that banning gay marriage does not rid the world of gay people, right? They are still going to be around and they are still going to continue to exist. The best way to get it all out of the spotlight? LEGALIZE IT! If gay marriage is legal, they will get to stop trying to push for it and you will get to stop seeing it all over the news. Why do Christians get to decide what is moral?? Why do you get to push your religion on others? How would legalizing gay marriage expose their lifestyle to your children? By the way, their lifestyle is going to continue whether gay marriage is legalized or not. It's been legal in Canada for quite a while now and they seem to be doing just fine. What about actual rules handed down by God? What about not working on Sundays? What about obeying your parents? What about adultery? These are in the 10 Commandments, the most important of God's rules. Yet they are all perfectly legal. What about divorce? Only God is allowed to dissolve a marriage so why don't you work hard to get divorce banned? Why do you get to pick and choose the parts of the Bible you care about?

  5. Look at the bright side. With the new Lowe's call center, that means 1000 jobs at $10 bucks an hour. IMS has to be drooling over all that disposable income. If those employees can save all their extra money after bills, in five years they can go to the race LIVE. Can you say attendance boost?

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