Investing

Centerfield rounds up $171M for new fund

May 18, 2013
Dan Human
An Indianapolis private investment firm has raised one of the largest-ever funds in the state. Centerfield Capital Partners pulled in $171 million that it plans to invest in about 20 companies. Its two previous funds totaled $60 million and $116 million.
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Leader of fraud scheme sentenced to 4-plus years

May 14, 2013
 IBJ Staff
Michael Russell, 54, pleaded guilty in January to 20 counts of wire fraud and money laundering in a scheme involving former Indianapolis City-County Councilor Paul Bateman.
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First Merchants' deal to make it state's second-biggest bank

May 13, 2013
Greg Andrews
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.
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Merchants, Citizens Bank to merge

May 9, 2013
Chris O'Malley
Shareholders in Carmel-based Merchants will receive stock that was valued at $98.3 million before the announcement of the deal caused a huge spike.
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Stocks soar to all-time high on employment news

May 3, 2013
Associated Press
A stronger-than-expected pickup in hiring last month lifted the stock market early Friday, pushing the Dow Jones industrial average above 15,000 and the Standard and Poor's 500 index above 1,600 points for the first time.
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Fair Finance investors still empty-handed as trustee plows on

April 27, 2013
Greg Andrews
Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.
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Venture capital favoring later-stage firmsRestricted Content

April 27, 2013
Dan Human
Getting $50,000—often from friends and relatives—to develop a product and set up a company still is easy enough in Indiana, small-business leaders and venture capitalists say. But once a firm needs a few million dollars to grow into a revenue-generating operation, the area can’t compete with Silicon Valley’s magnetism for venture capital.
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Stock market rebounds from worst day of the year

April 16, 2013
Associated Press
Good news on housing and earnings Tuesday morning helped stocks recover from a dismal Monday, when stocks suffered their biggest one-day decline since November.
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Falling commodities give Dow worst day of the year

April 15, 2013
Associated Press
The Dow Jones industrial average tumbled 265.86 points Monday to close at 14,599.20, a decline of 1.8 percent.
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HHGregg throws lifeline to employees with underwater optionsRestricted Content

April 13, 2013
Greg Andrews
The company this month filed papers gave option holders the right to exchange their current holdings for new options with an exercise price set at the current market price.
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Indiana pension shifts to international bondsRestricted Content

April 13, 2013
The Indiana Public Retirement System recently issued a request for proposals from international fixed-income managers and received 16 responses by the April 5 deadline. The $27.1 billion retirement system will hire two managers to oversee $900 million.
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Lilly pulls back from proposals lowering takeover barriersRestricted Content

April 6, 2013
Greg Andrews
Fortunately, a Lilly takeover looks less likely today than it has in a long time—for both obvious and more subtle reasons.
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First Internet Bancorp jumps into dividend gameRestricted Content

April 6, 2013
The parent of First Internet Bank late last month declared a dividend of 6 cents per common share payable April 15 to shareholders of record April 1.
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Carmel financial adviser accused of using faith to prey on victims

April 1, 2013
Associated Press
A central Indiana man banned from selling investments faces 10 securities fraud counts for allegedly using shared Christian beliefs to dupe clients out of more than $580,000.
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S&P 500 closes with record high, beating 2007 mark

March 28, 2013
Associated Press
For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession.
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Bonuses drive up compensation for Lilly's top brass

March 25, 2013
J.K. Wall
Eli Lilly and Co. granted larger bonuses to its top five executives early this year, which boosted their 2012 compensation anywhere from 3 percent to 8 percent.
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Steak n Shake’s value menu isn’t all that looks cheapRestricted Content

March 23, 2013
Greg Andrews
Investors may be undervaluing Biglari Holdings Inc., which owns Steak n Shake outright and holds 20 percent of Cracker Barrel.
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Fortune can't explain 'significant and unusual' stock swing

March 19, 2013
Jeff Newman
Fortune Industries Inc. shares on Monday jumped as much as 285 percent from Friday’s closing price. The New York Stock Exchange found the move and an intense spike in trading volume so odd that it asked the company for answers.
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Judge says bank can pursue suit against broker

March 15, 2013
Scott Olson
A federal judge granted Peoples Bank a victory Thursday by ruling that it can sue Stifel Nicolaus & Co. on its claims that the broker violated the Indiana Securities Act and committed fraud.
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Indiana mutual fund ranked No. 1 by Lipper

March 15, 2013
 IBJ Staff
Kirr Marbach & Co., one of the state's few home-grown mutual funds, has been honored by Lipper Inc. for having the best multi-cap core fund out of 647 funds over a three-year period.
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Indiana officials warn investors about British firm

March 15, 2013
Associated Press
The secretary of state's office is cautioning investors about a company that promises low risks and high returns but isn't registered to sell securities in Indiana.
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MH Equity portfolio firm plans liquidation

March 14, 2013
 IBJ Staff and Bloomberg News
What was once Indianapolis-based MH Private Equity's most valuable portfolio company is going bankrupt. Entertainment Publications LLC, which produces fundraiser coupon books, filed for Chapter 7 liquidation Tuesday.
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Menard ousts Hilbert from investment firmRestricted Content

March 9, 2013
J.K. Wall
Steve Hilbert has been ousted as CEO of Indianapolis-based MH Private Equity after a bitter battle with John Menard, the hardware store king who financed the $500 million private equity firm.
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Dow record doesn't impress Wall Street workers

March 6, 2013
Associated Press
There were no signs of a celebration on Wall Street after the Dow Jones industrial average closed at an all-time high Tuesday. Maybe the memories of the financial meltdown are too fresh, or outlook for the economy is too uncertain.
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Dow Jones industrial average closes at record

March 5, 2013
Associated Press
The Dow Jones industrial average closed at a record Tuesday, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.
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  1. If a television station wants to improve viewership, get rid of the local blackout. I was born by the brickyard, and have attended 15 or more races. I have children now, I won't attend unless circumstances are perfect. As those with growing families know, they never are. I'm always impressed that upwards of 250,000 people attend the 500. However, as a growing, or, more apt, sprawling city, Indianapolis and its immediate suburbs count almost 2.2 million. Show the race live, let the venue get a kick-back on revenues, and open-wheel racing might have a fighting chance to be relevant again. Just in time for those tax-payer lights to make sense.

  2. John Moore, I too have had the same issue recently. A property next to my house was on the Land Bank and I was interested in purchasing. When I tried to contact Reggie, I got back emails that had nothing to do with what I asked about. Actually my latest response from him was on this past Friday. I had asked about how to buy the property and if it was still available. His response to me was to contact the mayor's office to get the schedule of his appearances. (???) Hopefully the city is able to do something to fix what this guy has done, it would be nice if they would take the properties back and sell them properly so land owners like me and you mother would have a fair chance.

  3. I too work in the industry, with over 25 years of experience and your political spin has probably nothing to do with any rebranding. "Let's dress it up" would have nothing to do with the government "telling us how and what to eat." Give it a political rest. And being a producer for a radio show doesn't mean you've been involved in advertising and branding for 30 years.

  4. Ms. Morris did not understand the ways of the business world, otherwise, like the IMS, she could have petitioned the State Legislature for a handout of State Funds for her charity work. Ms. Morris should consider becoming a state lobbyist for Lemonade Stand Operators.

  5. David Copperfield!

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