Investing

Former Durham exec ordered to pay $30,000

August 22, 2012
Scott Olson
Former Obsidian Enterprises Inc. President Terry Whitesell will pay the amount as part of a settlement agreement. A bankruptcy trustee representing investors of Fair Finance Co., owned by convicted financier Tim Durham, had sought more than $225,000 from Whitesell.
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Indiana pensions hit as economic doldrums continue

August 14, 2012
Associated Press
Indiana pension funds took a temporary hit last year and may not rebound as much as public workers would like, based on long-term economic trends outlined for lawmakers Tuesday.
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Angie’s List shares plunge to record low after lockup ends

August 14, 2012
Bloomberg News
Shares in Indianapolis-based Angie’s List Inc., the consumer-review website company, plunged to a record low after a ban was lifted on stock sales by some of the company’s biggest investors.
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Indiana pension system is country's most conservativeRestricted Content

August 11, 2012
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
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KIM: Beware conflicts of interest when seeking financial helpRestricted Content

August 4, 2012
Mickey Kim
There is no such thing as unbiased advice, and conflicts of interest are not automatically bad. However, it’s up to you to take steps to protect yourself from becoming “skinned” in this jungle.
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Web startup aims to connect private businesses, investors

July 28, 2012
Andrea Muirragui Davis
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
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State pensions' strategy shift causes manager fees to riseRestricted Content

July 28, 2012
Kathleen McLaughlin
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
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Judge rejects Fair Finance attorneys' fee request

July 26, 2012
Scott Olson
The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.
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WellPoint shares sink after profit misses analyst estimates

July 25, 2012
Bloomberg News
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer's quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
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Lilly's quarterly profit falls, but tops analyst expectations

July 25, 2012
Bloomberg News
Eli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook for the rest of the year.
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Simon boosts dividend, outlook after strong second quarter

July 24, 2012
 IBJ Staff and Bloomberg News
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
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Venture funding falls 12 percent in second quarter

July 20, 2012
Associated Press
Funding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade.
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Regional investing conference heavy on Indiana banksRestricted Content

July 14, 2012
Event organizers say Wall Street isn't the only place to drum up interest in stocks.
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Hauke receiver files suit against his former accounting firm

July 9, 2012
Scott Olson
The lawsuit accuses convicted money manager Keenan Hauke's former accounting firm of negligence for failing to monitor Hauke's bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
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Indiana to hold securities brokers more accountable

June 29, 2012
Associated Press
Secretary of State Connie Lawson said the new provisions will help her office provide better protection to investors.
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State, former Colts invest in Fishers software provider

June 27, 2012
Kathleen McLaughlin
The state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company announced this week.
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Heat wave wilting corn supplies, boosting prices

June 27, 2012
Bloomberg News
Corn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
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Judge orders Durham, Cochran jailed until sentencing

June 25, 2012
Cory Schouten
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
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Outlook improves for Fair Finance investors

June 23, 2012
Greg Andrews
A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.
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Durham found guilty on all counts

June 20, 2012
Cory Schouten
U.S. Attorney Joseph Hogsett hailed the jury's decision, calling the case "the most significant piece of litigation the Southern District has seen in a generation." Tim Durham and co-defendants Jim Cochran and Rick Snow were handcuffed and taken to the Marion County Jail.
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Mainstreet Property affiliate stages $110M IPO

June 20, 2012
 IBJ Staff
Mainstreet owns 18 percent of HealthLease Properties Real Estate Investment Trust, which sold 11 million shares of stock at $10 each. The stock began trading Wednesday morning on the Toronto Stock Exchange under the ticker HLP.UN.
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Durham trial closing arguments provide clashing accounts

June 20, 2012
Cory Schouten
The prosecution described Tim Durham as "the mastermind" of a Ponzi scheme, while partner Jim Cochran acted as the front man who lied "to people's faces," and Chief Financial Officer Rick Snow served as the "backroom numbers guy."
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Defense rests in Durham trial without defendants testifying

June 19, 2012
Cory Schouten
Defense attorneys in the federal fraud trial of Fair Finance executives Tim Durham, Jim Cochran and Rick Snow rested their cases Tuesday morning after calling just one witness and introducing a handful of exhibits.
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Prosecution rests after testimony from Fair Finance trustee

June 18, 2012
Cory Schouten
Attorneys for Tim Durham and his co-defendants are expected to start their defense Tuesday morning and wrap it up in the afternoon. The jury is expected to begin deliberations Wednesday.
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Durham prosecutors wrap case with details on asset transfer

June 18, 2012
Greg Andrews, Cory Schouten
In the weeks before an FBI raid shut down Fair Finance Co., top company executives led by Indianapolis financier Tim Durham devised a last-ditch maneuver they hoped would persuade Ohio regulators to allow them to keep selling investment certificates.
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  1. Uh, sorry Johnnie, but you are incorrect. Despite the assertions by yourself and various defenders and captains, sports attendance is NOT off significantly at most sporting events in the US. Variances in attendance has been in the range of single digits, both + & - for years now. MLB has had most of its best overall attendance nubers in the last decade, and that trend has been consistent for most major sporting events. The number one issue cited by most fans when asked about attendance is the overall cost of attending. The presence of HD and big screen televisions in home doesn't even register, as a factor for not attending an event. VALUE in the product is the key, and apparently is something lacking in the current ICS. What other explanation is there when with what is routinely touted as the "best" racing on the planet, fans are staying away in DROVES. A "close" title battle into the last event at Fontana, with the "cars and stars" of the ICS, and who showed up? MAYBE 8K. Sorry, but HD TV isn't to blame for that kind of fan apathy.

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