Banking & Finance

Charity sees hope in Third World 'micro' lendingRestricted Content

April 30, 2007
Chris O'Malley
In the village of Armenia, in western El Salvador, the Barahona Bautista family last month got a $246 loan to start a pig farm from Ambassadors for Children. Micro loans are new to Ambassadors, which assists children in more than a dozen countries.
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Broadbent's new era: Veteran real estate firm known for strip centers prepares for new headquarters, new leadershipRestricted Content

April 23, 2007
Scott Olson
The distinctive black-and-white façade of the Zipper Building at Washington Street and Virginia Avenue is gone, stripped away like ceiling tiles from an old bedroom. Replacing the unusual exterior of the three-story structure will be a more traditional brick and stone look-and a new moniker bearing the name of owner The Broadbent Co. Broadbent, the longtime developer of retail strip centers including Castleton Plaza, Clearwater Crossing and Fashion Mall Commons bought the downtown building last October and is set to...
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Invoice-borrowing a growing credit optionRestricted Content

March 26, 2007
Jennifer Whitson
Bank loans and credit cards are common solutions to small businesses' cash-flow crunches, but small-business owners increasingly have another option: using unpaid invoices as collateral to borrow money from investors.
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Virtual bank making 'solid' move into lending: First Internet Bancorp. expands into mortgages with Landmark acquisitionRestricted Content

March 19, 2007
Peter Schnitzler
Online banks usually avoid brick-and-mortar overhead. Eliminating expense is the core of their business advantage. So why did First Internet Bancorp spend $12 million to acquire traditional mortgage lender and savings bank Landmark Financial Corp. and its two Indianapolis branches? Because the acquisition of Landmark provides First Internet an opportunity to finally broach the mortgage market. Landmark, which traces its roots back to 1925, is best known as a new-construction underwriter in the local home and commercial builder market. Its...
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Banks quick to embrace remote checking: Customers get on board as more institutions allow checks to be scanned, transmitted, deposited electronicallyRestricted Content

March 19, 2007
Katie Maurer
ATMs are still convenient, but not much of a novelty anymore. That distinction now belongs to remote-deposit capture-a high-tech advancement that guarantees a big payoff for banks and their customers alike. "From a technological standpoint, it's the biggest thing happening in banking in 2007," said Lee Wetherington, senior vice president at Brentwood, Tenn.-based software maker Goldleaf Financial Inc. Remote-deposit capture eliminates the need for businesses to physically deposit checks at their bank branch. Using the new technology, checks are scanned...
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State's financial institutions leader quietly blazes trail: Appointment of Rice puts a credit union leader in top spot for first time; bankers group withholds judgmentRestricted Content

March 19, 2007
Scott Olson
Rick Rice's ascension to chairman of the Indiana Department of Financial Institutions typically would be the type of lowkey government appointment that invokes nary a murmur of opposition. Why would it when current affairs facing the sevenmember panel are as harmless as allowing state-chartered financial institutions to charge patrons who wish to skip a loan payment? Yet, Rice's selection in late January as head of the DFI board has the credit union community gushing with pride, and the banking industry...
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Bowland Solutions Assessing a niche: Online job reviews help firm build global client baseRestricted Content

March 19, 2007
Della Pacheco
Sometimes it's hard to tell who hates performance reviews more-managers or employees. But what if the timeworn paper-based annual assessment were replaced with a Web-based process that allows managers to consistently evaluate employees' skills against company goals? Indianapolis-based Bowland Solutions has come up with just such an alternative, and it has helped the firm build a client roster that includes heavyweights like international banking giant HSBC, music purveyor Virgin Megastores, global pharmaceutical firm GlaxoSmithKline and Earthbound Farm, North America's largest...
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XM-Sirius merger is threat to local HD radio: Local broadcasters hustle to launch digital channelsRestricted Content

March 12, 2007
Anthony Schoettle
The news of a potential merger between New York-based Sirius Satellite Radio Inc. and Washington, D.C.-based XM Satellite Radio Holdings Inc. comes at a critical time for local radio station operators. If the merger draws more listeners, that clearly would be bad news for terrestrial radio stations already dealing with the Internet and Ipod, and could imperil their fledgling high-definition initiative. Already, the proposed $11.4 billion merger is getting lots of media attention, and that's bound to raise satellite radio's...
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WellPoint banks on the popularity of HSAs: Insurer moves to start bank, offer medical financingRestricted Content

February 26, 2007
J.K. Wall
To do so the Indianapolis-based health insurer is moving to start its own bank, whose initial role will be to hold and manage its customers' health savings accounts. An HSA is a relatively new breed of health insurance that places money-and more responsibility-in consumers' hands. Well-Point bets more and more of its customers will start such accounts in the future. "We expect to see continued strong growth for these products. There is a tremendous amount of interest in the marketplace...
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Banks squeeze into Hamilton CountyRestricted Content

February 12, 2007
Cory Schouten
At least 35 new bank branches have sprouted in Hamilton County in the last three years, and more are on the way. Familiar names like Charter One and Chase have added eight and seven branches, respectively. Other institutions are entering the market.
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STATEHOUSE DISPATCH: This finally may be the year for property tax reformRestricted Content

February 12, 2007
Ed Feigenbaum
Brace yourself for lots of action in the next two weeks, as the deadlines approach for bills originating in the House to be passed to the Senate, and vice versa. While this is a long session of the General Assembly and one might assume this would lead to more deliberative contemplation, the extra days do not seem to make much difference as deadlines approach. Some of the larger issues that require more massaging and compromise tend not to be drafted...
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City Securities aims to earn mega-deal: If approved, $450 million bond plan would pay off pre-1977 police, fire pensionsRestricted Content

February 5, 2007
Peter Schnitzler
If Mayor Bart Peterson gets his wish, a $450 million bond issue finally will settle Indianapolis' long-standing dilemma over underfunded police and firefighter pensions once and for all. It will also generate up to $9 million in professional fees. And locally based City Securities Corp. is laying the groundwork to earn a lion's share-even though investment banking is dominated by giant companies in Manhattan. "I would assume that most of Wall Street has made a call," said City Securities Vice...
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Buyout boom isn't all bad for HoosiersRestricted Content

January 29, 2007
Peter Schnitzler
Announcements that major Indiana companies have been acquired are traditionally met with trepidation. But a rash of recent buyouts of Indiana companies shows they're not always bad news.
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Successful software veteran forms investment firm: Mark Hill's $5 million underwrites startup BlueLockRestricted Content

January 22, 2007
Peter Schnitzler
When local IT entrepreneur Mark Hill sold his banking software company in August 2005, he emphasized the potential upside for the area entrepreneurial community. Now he's making good on his word. Not content to bask on a beach somewhere, Hill has organized an Indianapolisbased private investment company called Collina Ventures. With $10 million under management-all provided by Hill-Collina already has made its first investment. This month, it risked $5 million in startup cash to organize Indianapolis-based Blue-Lock LLC, a computer-hosting...
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Local sign makers enjoy brisk business thanks to bank mergersRestricted Content

January 15, 2007
Cory Schouten
Bank mergers have proven lucrative for local sign companies over the years. A string of mergers in the late 1980s and early 1990s wiped out the city's three big national banks--American Fletcher, Merchants National and Indiana National. In the years since, the industry has continued to consolidate, spawning a flurry of additional name changes.
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'Old fashioned' values manufacture Motionwear's growth: Acquisition should fuel leotard-maker's expansionRestricted Content

December 18, 2006
Peter Schnitzler
It might seem as though the low cost of labor overseas has shifted the entire U.S. textile industry to Asia, never to return. Indianapolis-based leotard-maker Motionwear Inc. proves otherwise. The 120-employee company was acquired this month by the Italian sportswear firm FILA for an undisclosed sum and, as a result, it's poised to expand locally. Tom Wilson started the company in his attic in 1988 because his daughter Erin, an aspiring dancer, couldn't find performance apparel she liked in retail...
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Old National slaps Durham with suitRestricted Content

December 11, 2006
Greg Andrews
Indianapolis entrepreneur Tim Durham has run into trouble with one of his lenders. Evansville-based Old National Bank says in a Dec. 1 lawsuit that Durham's Indianapolis-based holding company,Obsidian Enterprises Inc., is in default on $2.6 million in loans that came due Nov. 1.
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Surveillance success: Greenwood-based security firm's rapid growth draws national noticeRestricted Content

November 27, 2006
Cory Schouten
They all have high-tech surveillance systems from Greenwood-based American Sentry Guard. The company specializes in building and distributing "intelligent video" systems capable of linking digital video with other computer-based information, such as sales transaction records. Clients include schools, banks, casinos, government agencies and small businesses. Founded in 1999 by father-son team Jack and Jeff Brummett, American Sentry has become one of the nation's fastest-growing privately held companies. This year, Inc. magazine ranked the company 150th on its "Inc. 500" list,...
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Fast-growing Indy bank nearing $1B in assets: National Bank of Indianapolis credits service for climbRestricted Content

November 27, 2006
Cory Schouten
When cousins Michael and Morris Maurer decided to start a bank from scratch in 1993, they had several major issues to work through. There were regulatory approvals to win and federal deposit coverage to secure. They needed investors, bankers, office space and technology. But even the seemingly small details required time-consuming care. For one: selecting a name. It had to evoke a feeling of local control and continuity. It had to call to mind the company's strategy of long-term relationships...
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BULLS & BEARS: Why investing in Kimball is paying huge dividendsRestricted Content

November 20, 2006
Ken Skarbeck
Just more than a year ago in this column, I suggested Kimball International's stock might be an attractive investment. At the time we felt that, here was a company in our own back yard-Jasper-that possessed the kind of favorable investment c h a r a c t e r i s t i c s investors should seek. The column noted that the company had "no long-term debt and holds $117 million, or $3 a share, in cash. The stock...
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Emmis' landmark deal with Apple paying big dividends: Locally based radio group now No. 2 iTunes affiliateRestricted Content

November 13, 2006
Anthony Schoettle
Emmis Communications Corp. has a new mantra when it comes to emerging technology some say will kill the radio industry: If you can't beat 'em, join 'em. Emmis entered a relationship with California-based Apple Computer Inc. nine months ago that is paying big dividends. Since launching one of the radio industry's first iTunes storefronts on its stations' Internet sites, Emmis officials said they have become the No. 2 iTunes affiliate based on sales. Only Internet behemoth Yahoo Music sells more....
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Lights, camera, Internet-More Web sites using video: Vodcast clips catching on as a way for organizations to deliver their message in a new, more exciting wayRestricted Content

November 13, 2006
Scott Olson
The terms for emerging Internet technology are enough to make the less savvy long for the days when e-mail seemed cutting-edge. The communication tool, especially among teens, has given way to instant messaging, of course. So it's no wonder colleges and companies alike are starting to shun standard e- mail and Web-page marketing efforts in favor of video-on-demand clips, known as vodcasts. "The computer was meant to be watched; it wasn't meant to be read," said Jon DiGregory, who founded...
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BEHIND THE NEWS: Another daunting challenge for veteran exec CorneliusRestricted Content

September 25, 2006
Greg Andrews
Anyone surprised that at age 62, Jim Cornelius would take on the bruising job of leading embattled drugmaker Bristol-Myers Squibb shouldn't be. After all, the Zionsville businessman has surprised observers before. This is an executive who 12 years ago gave up one of the top jobs in corporate America-chief financial officer of Eli Lilly and Co.-to become chairman of Guidant Corp., then a much-maligned collection of medical-device firms that Lilly was spinning off into a stand-alone company. A risky move,...
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First Internet's acquisition is no run-of-the-mill bank:Restricted Content

September 4, 2006
Greg Andrews
BEHIND THE NEWS First Internet's acquisition is no run-of-the-mill bank Bank mergers happen all the time in Indiana, but this one is about as unique as they come. The buyer, Indianapolis-based First Internet Bancorp, was one of the nation's first Web-only banks when it opened its doors in 1999. Today, it's among the top five in that field, with assets topping $445 million. The seller is Indianapolis-based Landmark Financial Corp., parent of Landmark Savings Bank. Landmark Financial, with assets of...
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Credit union ordered to pay ex-executive $3.4MRestricted Content

August 14, 2006
Greg Andrews
A Marion County judge has ordered an Indianapolis credit union to pay its former CEO $3.4 million, saying it wrongly froze the executive's accounts after accusing him of financial improprieties three years ago.
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  1. Socialized medicine works great for white people in Scandanavia. It works well in Costa Rica for a population that is partly white and partly mestizo. I don't really see Obamacare as something aimed against whites. I think that is a Republican canard designed to elicit support from white people for republican candidates who don't care about them any more than democrats care about the non-whites they pander to with their phony maneuvers. But what is different between Costa Rica nd the Scandanavian nations on one hand and the US on the other? SIZE. Maybe the US is just too damn big. Maybe it just needs to be divided into smaller self governing pieces like when the old Holy Roman Empire was dismantled. Maybe we are always trying the same set of solutions for different kinds of people as if we were all the same. Oh-- I know-- that is liberal dogma, that we are all the same. Which is the most idiotic American notion going right back to the propaganda of 1776. All men are different and their differences are myriad and that which is different is not equal. The state which pretends men are all the same is going to force men to be the same. That is what America does here, that is what we do in our stupid overseas wars, that is how we destroy true diversity and true difference, and we are all as different groups of folks, feeling the pains of how capitalism is grinding us down into equally insignificant proletarian microconsumers with no other identity whether we like it or not. And the Marxists had this much right about the War of Independence: it was fundamentally a war of capitalist against feudal systems. America has been about big money since day one and whatever gets in the way is crushed. Health care is just another market and Obamacare, to the extent that it Rationalizes and makes more uniform a market which should actually be really different in nature and delivery from place to place-- well that will serve the interests of the biggest capitalist stakeholders in health care which is not Walmart for Gosh Sakes it is the INSURANCE INDUSTRY. CUI BONO Obamacare? The insurance industry. So republicans drop the delusion pro capitalist scales from your eyes this has almost nothing to do with race or "socialism" it has to do mostly with what the INSURANCE INDUSTRY wants to have happen in order to make their lives and profits easier.

  2. Read the article - the reason they can't justify staying is they have too many medicare/medicaid patients and the re-imbursements for transporting these patient is so low.

  3. I would not vote for Bayh if he did run. I also wouldn't vote for Pence. My guess is that Bayh does not have the stomach to oppose persons on the far left or far right. Also, outside of capitalizing on his time as U. S. Senator (and his wife's time as a board member to several companies) I don't know if he is willing to fight for anything. If people who claim to be in the middle walk away from fights with the right and left wing, what are we left with? Extremes. It's probably best for Bayh if he does not have the stomach for the fight but the result is no middle ground.

  4. JK - I meant that the results don't ring true. I also questioned the 10-year-old study because so much in the "health care system" has changed since the study was made. Moreover, it was hard to get to any overall conclusion or observation with the article. But....don't be defensive given my comments; I still think you do the best job of any journalist in the area shedding light and insight on important health care issues.

  5. Probably a good idea he doesn't run. I for one do not want someone who lives in VIRGINIA to be the governor. He gave it some thought, but he likes Virginia too much. What a name I cannot say on this site! The way these people think and operate amuses me.

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