Cash-strapped Hoosier Park racing to restructure $400M in debt
Despite rampant speculation, Anderson’s Hoosier Park is not facing imminent bankruptcy, according to its owner, locally
based Centaur Inc.
Peter Schnitzler
Articles
Study: Taxing services could yield state $6.8B
The non-partisan Indiana Fiscal Policy Institute this morning released a new study exploring the ramifications of expanding
the state’s sales tax to include services.
Securities firm Stifel Nicolaus balks at fraud charge
Transactions cited in the complaint involved advisers scattered across the firm’s seven Indiana offices, though two-thirds
were clients of Jeff Cohen.
My Health Care Manager lands $3 million investment
The company, which guides working adults and their parents through the maze of decisions and agencies involved in care for seniors, plans to use the money primarily to augment its sales staff and operations.
Stock-market rebound lifts hopes of Hoosier mutual funds
The economic downturn walloped all three of the mutual funds headquartered in Indiana. But they’ve each enjoyed significant
recoveries this year. And the smallest of the bunch has big plans to break away from the pack.
Banks work to protect electronic records from identity theft
Banks are fighting an ongoing battle with would-be identity thieves. Because banks are where the money is, the fight is
likely to go on a long time, with both thieves and banks growing in sophistication.
London hedge fund sues Brightpoint over failed acquisition
A London-based hedge fund has sued Brightpoint Inc. over a $10 million loan it alleges the Indianapolis-based cell phone distributor
fraudulently brokered in anticipation of an acquisition in France that never materialized.
Widow likely biggest beneficiary of Simon’s estate
Bren Simon likely will inherit at least one-third of her billionaire husband’s fortune and potentially much more,
wealth managers speculate, based on the legal and tax issues involved in such a large estate.
Bartering booms during recession
In a recession, cash is a commodity few small businesses can spare. That’s why more businesses are trading goods and services without exchanging cash.
New Indiana law requires schools to teach financial acumen
Indiana Superintendent of Public Instruction Tony Bennett plans to meet a state mandate to offer financial instruction by
incorporating the topic in the classroom via real-world example.
Irwin Financial files for bankruptcy liquidation
Columbus-based Irwin Financial Corp. has filed for Chapter 7 bankruptcy, setting the stage for the liquidation of the remaining
assets of the troubled banking company.
Unfinished federal bailout sealed Irwin’s failure
Up to the end, Columbus-based Irwin Financial Corp. anticipated a government bailout that never materialized.
Developer Broadbent sues banks after they tighten credit line
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
City’s cash-strapped parks turn to private sector for ideas, manpower
Mayor Greg Ballard’s administration has asked the businesses for ideas on
how Eagle Creek Park and Riverside Regional Park each could cut costs and generate more revenue.
New Columbia Club general manager trying to reverse membership slide
James Rentschler hopes to restore the Columbia Club’s luster, and its membership roster, by returning the institution
to its gilded roots.
Indiana Fiscal Policy Institute seeks comeback
The Indiana Fiscal Policy Institute’s board has hired Indianapolis Star business columnist John Ketzenberger to engineer a resuscitation.
Ex-workers sue Navistar, charge plant closing violated contract
Forty-three former employees of Navistar Inc.’s shuttered diesel engine plant have sued the company, claiming it
breached their collective bargaining agreement by moving plant work in recent years to non-union facilities.
Fitch strips Indianapolis of prized AAA bond rating
Fitch and other rating agencies are concerned that the phase-in of property tax caps will further strain the city’s finances.
Economy pushes executives into small firms
In the recession, folks with former big-company careers
are increasingly taking jobs with small businesses. For some downsized executives, it’s about the desperate need for
a paycheck. Others, who felt impotent and pigeonholed in corporations, discover they prefer the challenge of entrepreneurship.
Dodson Group hit crisis mode after trusted CFO suspected of theft
At first, small-business owner Jim Dodson figured the problem must be a technical glitch. During a routine analysis of
aging unpaid invoices last September, one of his employees couldn’t tie the latest figures to the company’s ledger.
Accounts receivable for his company,
the Dodson Group, had been overstated by $2.7 million—double their true value. And $422,539 was missing from the firm’s
coffers.