Investing

Examiner appointed in HDG Mansur bankruptcy case

September 18, 2014
 Bloomberg News and IBJ Staff
An examiner will be appointed to conduct an investigation into the bankruptcies of two affiliates of troubled Indianapolis-based developer HDG Mansur. A judge, for the time being, denied a request to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7.
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Fed signals plan to keep key rate at record low

September 17, 2014
Associated Press
The Fed said it planned to keep its benchmark rate near zero as long as inflation remains under control, until it sees consistent gains in wage growth, long-term unemployment and other gauges of the job market.
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Liquidation not needed, developer HDG Mansur tells court

September 15, 2014
 Bloomberg News and IBJ Staff
Two affiliates of troubled Indianapolis-based developer HDG Mansur oppose requests to appoint a Chapter 11 trustee or convert the case to a liquidation in Chapter 7, saying significant progress has been made toward a plan and global settlement of claims.
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Crowdfunding site Localstake sees surge in deals

September 13, 2014
Jared Council
The seven-employee Indianapolis firm launched in June 2013, raising funds for two companies in its first six months. Over the following eight months, it brokered funding for eight companies and has eight in queue.
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Pete the Planner uses humor, straight talk to become media sensation

September 13, 2014
Sam Stall
Peter Dunn, a prolific tweeter who appears on broadcast outlets as well as in The Indianapolis Star, hopes the release of six books in January further builds his profile.
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Local pair wages battle against Manhattan financier

September 13, 2014
Greg Andrews
Jonathan Evans and Sean O’Connor of the Carmel investment firm JWEST LLC are trying to win election to the board of Rand Logistics, which they believe is being mismanaged by Chairman Laurence Levy.
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Local lawyer among first to accept Bitcoin for services

September 10, 2014
Indiana Lawyer Staff, Dave Stafford
Intellectual property attorney Paul Overhauser's clients are often on the cutting edge of Internet technology, so he decided that in addition to dollars, he'll take digital dough.
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Repayments to church scam investors wrapping up

September 3, 2014
Associated Press
The last refund checks to devout investors who lost millions in what amounted to a religious Ponzi scheme are ready to be mailed after being tied up in court for nearly a decade.
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Smarter Remarketer gets $7M in fundingRestricted Content

August 30, 2014
Smarter Remarketer, an Indianapolis-based retail technology firm, said Aug. 27 that it has lined up $7 million in venture debt financing from Los Angeles-based City National Bank.
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S&P 500 sets all-time high in intraday trading

August 25, 2014
 Associated Press and IBJ Staff
The index breached the 2,000-point barrier soon after markets opened on Monday, nearly hitting 2002 points around noon. The Dow also was near its high watermark.
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A love story with Christ Church takes contentious turn

August 23, 2014
Greg Andrews
This is far from the first time that heirs and beneficiaries of the Lilly family fortune have tangled over how it was managed.
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Yellen to give her outlook as Fed honeymoon fades

August 20, 2014
Associated Press
The perilous question that now awaits Janet Yellen's Federal Reserve has put investors on nervous alert: Can it manage to raise rates from record lows without weakening the U.S. economy or spooking markets?
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Inventor to try crowdfunding to launch cycling product

August 20, 2014
 Associated Press and IBJ Staff
An Indiana inventor plans to use the power of the people—and the World Wide Web—to secure funds to produce prototypes for the Land Zeppelin, an apparatus that allows bicyclists to ride in the rain without getting wet.
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Local man faces 20 investment-related felony counts

August 13, 2014
Jeff Newman
Robert E. Wilson, 54, who operated locally based Wellington Institutional Management LCC, was charged in Marion County Court with 10 counts of securities fraud and 10 counts of being an unregistered broker-dealer.
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Church accuses JPMorgan of mismanagement, self-dealing

August 13, 2014
Cory Schouten
Christ Church Cathedral has filed a federal lawsuit against JPMorgan Chase, alleging the bank's "intentional mismanagement" and "self-dealing" led to $13 million in losses in church trust accounts endowed in the 1970s by Eli Lilly Jr.
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New Simon VC arm making bets on retail technology

August 9, 2014
Greg Andrews
The newly formed Simon Venture Group is betting millions of dollars on nascent technology companies that hope to reshape retailing.
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Skarbeck: Pension funds rethinking zeal for hedge fund betsRestricted Content

August 9, 2014
Ken Skarbeck
The California Public Employees’ Retirement System, the largest public pension fund in the United States, recently announced it would reduce its hedge fund investments by a dramatic 40 percent.
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Not so golden: Wealth gap lasting into retirement

August 4, 2014
Associated Press
With traditional pensions becoming rarer in the private sector, and lower-paid workers less likely to have access to an employer-provided retirement plan, there is a growing gulf in the retirement savings of the wealthy and people with lower incomes.
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Investor reimbursement fund off to slow start

August 2, 2014
Chris O'Malley
Time required for investigations, prosecutions caused delays.
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Stock market plunges as multiple worries vex investors

July 31, 2014
Associated Press
The stock market fell in early trading after a dose of bad earnings news, and the losses accelerated throughout the day. The three major indexes suffered their biggest losses in months.
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Fed offers no clearer hint on first rate increase

July 30, 2014
Associated Press
The Federal Reserve is further slowing the pace of its bond purchases because it thinks an improving U.S. economy needs less help. But it's offering no clearer hint of when it will start raising its benchmark short-term interest rate.
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Mitchell departs state job for treasurer's race

July 28, 2014
Associated Press
Kelly Mitchell announced Friday she was leaving her job as an investment director in the state treasurer's office Aug. 1.
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Hauke accounting firm to pay $1.8M in fraud settlement

July 22, 2014
Jeff Newman
DeWitt & Shrader PC, an Indianapolis-based accounting firm that worked for convicted Ponzi schemer Keenan Hauke, has agreed to settle a state lawsuit, Indiana Secretary of State Connie Lawson announced Tuesday.
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WellPoint stock ascends to a record $110 per share

July 12, 2014
J.K. Wall
Indianapolis-based WellPoint saw its shares close July 9 at $110.87 per share, compared with less than $85 just five months ago.
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Ball State hires prosecutor to review investment fraud

July 11, 2014
Associated Press
Indianapolis attorney Deborah Daniels will scrutinize what happened to $13.1 million.
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  1. Aaron is my fav!

  2. Let's see... $25M construction cost, they get $7.5M back from federal taxpayers, they're exempt from business property tax and use tax so that's about $2.5M PER YEAR they don't have to pay, permitting fees are cut in half for such projects, IPL will give them $4K under an incentive program, and under IPL's VFIT they'll be selling the power to IPL at 20 cents / kwh, nearly triple what a gas plant gets, about $6M / year for the 150-acre combined farms, and all of which is passed on to IPL customers. No jobs will be created either other than an handful of installers for a few weeks. Now here's the fun part...the panels (from CHINA) only cost about $5M on Alibaba, so where's the rest of the $25M going? Are they marking up the price to drive up the federal rebate? Indy Airport Solar Partners II LLC is owned by local firms Johnson-Melloh Solutions and Telemon Corp. They'll gross $6M / year in triple-rate power revenue, get another $12M next year from taxpayers for this new farm, on top of the $12M they got from taxpayers this year for the first farm, and have only laid out about $10-12M in materials plus installation labor for both farms combined, and $500K / year in annual land lease for both farms (est.). Over 15 years, that's over $70M net profit on a $12M investment, all from our wallets. What a boondoggle. It's time to wise up and give Thorium Energy your serious consideration. See http://energyfromthorium.com to learn more.

  3. Markus, I don't think a $2 Billion dollar surplus qualifies as saying we are out of money. Privatization does work. The government should only do what private industry can't or won't. What is proven is that any time the government tries to do something it costs more, comes in late and usually is lower quality.

  4. Some of the licenses that were added during Daniels' administration, such as requiring waiter/waitresses to be licensed to serve alcohol, are simply a way to generate revenue. At $35/server every 3 years, the state is generating millions of dollars on the backs of people who really need/want to work.

  5. I always giggle when I read comments from people complaining that a market is "too saturated" with one thing or another. What does that even mean? If someone is able to open and sustain a new business, whether you think there is room enough for them or not, more power to them. Personally, I love visiting as many of the new local breweries as possible. You do realize that most of these establishments include a dining component and therefore are pretty similar to restaurants, right? When was the last time I heard someone say "You know, I think we have too many locally owned restaurants"? Um, never...

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