Investing

Market's surge fuels wave of executives' insider sellingRestricted Content

February 23, 2013
Kathleen McLaughlin
Insiders at Indianapolis-area companies cashed in millions of dollars of their own companies’ shares this month, a selling spree that might reflect growing sentiment the market rally is ending.
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UPDATE: First Internet slips 2.5 percent in debut on NASDAQ

February 22, 2013
Shares of the Indianapolis-based bank finished their first day on the NASDAQ exchange at $28.50, a 75-cent drop from their opening price. The stock had been listed on the thinly traded over-the-counter market.
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Does hybrid-tech startup have investors too revved up?Restricted Content

February 16, 2013
Greg Andrews
Echo Automotive trades on the OTC Bulletin Board, the Wild West of investing—where cheap stock prices and low trading volumes can translate into wild swings in stock price.
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Indiana tries to close loophole that helped Durham commit fraud in OhioRestricted Content

February 16, 2013
The legislature is considering a bill that would require intrastate securities offerings to file audited financials, a safeguard that caused trouble for Fair Finance investors.
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Families sue to recover lost investments

February 1, 2013
Associated Press
A central Indiana county commissioner, his wife and members of three other families who lost more than $700,000 they invested in businesses state officials say were shell companies are suing two men accused of orchestrating the scheme.
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S&P 500 in longest winning streak since 2004

January 25, 2013
Associated Press
The Standard & Poor's 500 index closed above 1,500 on Friday for the first time since the start of the Great Recession in 2007, lifted by strong earnings from Procter & Gamble and Starbucks.
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Michigan lawyer claims Indiana prosecution was political

January 25, 2013
Associated Press
A Michigan attorney claims in a lawsuit that former Indianapolis prosecutor Carl Brizzi and former Indiana Secretary of State Todd Rokita used unwarranted charges against her in a cemetery theft scheme to enhance their political reputations.
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ITT suffers tough quarter on enrollment drop, loan losses

January 24, 2013
J.K. Wall
ITT Educational Services Inc. shares swooned Thursday morning after the private educator reported sinking revenue and a $9.5 million loss in the fourth quarter. But the stock rebounded strongly later Thursday.
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Lampoon paid for Durham’s defense, trustee alleges

January 23, 2013
Scott Olson
Fair Finance bankruptcy trustee Brian Bash, charged with recovering funds for Fair investors, alleges in a court filing that National Lampoon funded convicted Ponzi schemer Tim Durham's defense. Durham is a former CEO of the film company.
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Ex-councilor Bateman agrees to plead guilty to fraud charges

January 23, 2013
J.K. Wall
Paul C. Bateman Jr., a former Democrat city-county councilor, agreed to plead guilty Wednesday to 13 counts of money laundering and wire fraud for his part in defrauding an Indianapolis physician of $1.7 million.
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Local buyout firm acquires New York shapewear maker

January 23, 2013
 IBJ Staff
Indianapolis investment firm E&A Industries has acquired a fast-growing New York apparel firm specializing in body-slimming fashions, the companies announced Tuesday.
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Local tooling manufacturer acquired by private-equity firm

January 21, 2013
Techniks Inc., a designer and distributor of industrial cutting tools, has been acquired by Tenex Capital Management. Tenex, in turn, merged Techniks into another of its companies, Jasper-based Nap Gladu, to form a new holding company.
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HHGregg ratchets back, but analysts still uneasyRestricted Content

January 19, 2013
Greg Andrews
HHGregg now has 228 stores in 20 states. So it has grown a great deal. But the “exceptional store economics” it used to promote are gone, thanks largely to a breathtaking collapse in sales of flat-screen televisions.
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Indiana firms see big drop in venture funding

January 18, 2013
J.K. Wall
Venture capital investments in Indiana dropped off in 2012, but local investors see the market here steadily gaining strength.
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Leader of fraud scheme pleads guilty to 20 counts

January 17, 2013
Scott Olson
Michael Russell faces between 57 and 71 months in prison for defrauding an Indianapolis investor of $1.7 million. Two associates, Paul Bateman, a former City-County councilor, and Manuel Gonzalez, have pleaded not guilty and are set for trial Feb. 11.
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Emmis' well-paid CEO signs on for 3 more yearsRestricted Content

January 12, 2013
Greg Andrews
CEO Jeff Smulyan's supporters praise him for repositioning Emmis during a harrowing stretch for the media industry. Detractors complain about his hefty compensation.
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Analyst cuts Cummins rating, citing rise in shares

January 11, 2013
Associated Press
Analyst Stephen Volkmann lowered his rating on the engine maker's stock to "Hold" from "Buy," noting that the shares have risen 30 percent from their October lows and are now just 10 percent below all-time highs.
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BioCrossroads seed fund makes first investments

January 10, 2013
Local startups Esanex Inc. and Algaeon Inc. have received $500,000 and $250,000, respectively, from Indiana Seed Fund II, BioCrossroads' second fund to help fledgling life sciences companies.
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Investment strategists confront shrinking interest ratesRestricted Content

January 5, 2013
Kathleen McLaughlin
You know the investing climate is unusual when a stock’s dividend yields more than bonds issued by the same company.
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Columbus-based mutual fund shines in 2012Restricted Content

January 5, 2013
Scott Olson
Kirr Marbach's 'mid-cap blend' outpaces similar Indiana-based investments.
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'Cliff' deal sends stocks up, but problems lurk

January 2, 2013
Associated Press
The "fiscal cliff" compromise, even with all its chaos, controversy and unresolved questions, was enough to send the stock market shooting higher Wednesday, the first trading day of the new year.
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Former brokerage VP suing for sex, age discrimination

December 27, 2012
Dan Human
Attorneys for Dana Hurst say in a Dec. 20 court filing that David A. Noyes & Co. didn't grant her pay increases or year-end bonuses during her last 15 years on the job, while male counterparts were better rewarded.
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Remy rises in first day of trading on NASDAQ exchange

December 13, 2012
Shares of the Pendleton-based company opened Thursday at $15.85 each and climbed to $16.50 by the end of the day. The stock had previously been listed on the thinly traded pink sheets.
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Investors let down guard, opening door to Durham fraudRestricted Content

December 8, 2012
Greg Andrews
Shouldn’t the 5,100 Ohio investors who lost more than $200 million when Fair collapsed have seen Fair’s lofty interest rates as a red flag?
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Midwest Energy oil firm drilling for $15MRestricted Content

December 8, 2012
Chris O'Malley
An Indianapolis investment advisory oil firm has been looking for blowouts in its own back yard. Midwest Energy Partners is preparing for its seventh—and largest—round of funding to pay for oil drilling in southwestern Indiana and southeastern Illinois.
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  1. By Mr. Lee's own admission, he basically ran pro-bono ads on the billboard. Paying advertisers didn't want ads on a controversial, ugly billboard that turned off customers. At least one of Mr. Lee's free advertisers dropped out early because they found that Mr. Lee's advertising was having negative impact. So Mr. Lee is disingenous to say the city now owes him for lost revenue. Mr. Lee quickly realized his monstrosity had a dim future and is trying to get the city to bail him out. And that's why the billboard came down so quickly.

  2. Merchants Square is back. The small strip center to the south of 116th is 100% leased, McAlister’s is doing well in the outlot building. The former O’Charleys is leased but is going through permitting with the State and the town of Carmel. Mac Grill is closing all of their Indy locations (not just Merchants) and this will allow for a new restaurant concept to backfill both of their locations. As for the north side of 116th a new dinner movie theater and brewery is under construction to fill most of the vacancy left by Hobby Lobby and Old Navy.

  3. Yes it does have an ethics commission which enforce the law which prohibits 12 specific items. google it

  4. Thanks for reading and replying. If you want to see the differentiation for research, speaking and consulting, check out the spreadsheet I linked to at the bottom of the post; it is broken out exactly that way. I can only include so much detail in a blog post before it becomes something other than a blog post.

  5. 1. There is no allegation of corruption, Marty, to imply otherwise if false. 2. Is the "State Rule" a law? I suspect not. 3. Is Mr. Woodruff obligated via an employment agreement (contractual obligation) to not work with the engineering firm? 4. In many states a right to earn a living will trump non-competes and other contractual obligations, does Mr. Woodruff's personal right to earn a living trump any contractual obligations that might or might not be out there. 5. Lawyers in state government routinely go work for law firms they were formally working with in their regulatory actions. You can see a steady stream to firms like B&D from state government. It would be interesting for IBJ to do a review of current lawyers and find out how their past decisions affected the law firms clients. Since there is a buffer between regulated company and the regulator working for a law firm technically is not in violation of ethics but you have to wonder if decisions were made in favor of certain firms and quid pro quo jobs resulted. Start with the DOI in this review. Very interesting.

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