Lack of restraint caused Marsh family’s downfall
What’s extraordinary about the spending spree was that it continued even as Marsh Supermarkets' financial condition grew increasingly precarious.
What’s extraordinary about the spending spree was that it continued even as Marsh Supermarkets' financial condition grew increasingly precarious.
Eagle Creek Golf Club received a long-awaited face-lift this year under a contract that will rescue the city from most of its expenses stemming from the previous operator’s loan default.
Former Indianapolis businessman Tim Durham was sentenced to 50 years in prison for running a Ponzi scheme that led to the collapse of Fair Finance, costing thousands of investors $250 million. Accomplices Jim Cochran and Rick Snow received 25 years and 10 years, respectively.
Saying their crimes were “as serious as any financial fraud crime ever committed,” federal prosecutors re-emphasized Monday their recommendation that Ponzi schemer Tim Durham and his two accomplices deserve to spend the rest of their lives in prison.
The Ohio Division of Securities allowed Fair Finance to register investment certificates even after the company stopped providing audited financials and Tim Durham drained more than $100 million from the firm through insider loans.
Green BEAN Delivery’s roots may be in central Indiana, but the homegrown firm also is planting itself in Cincinnati—literally.
Dr. Zeba Madni, a psychiatrist, has joined Wishard Health Services. She received her medical degree in India and completed her residency in general psychiatry at Indiana University.
Dr. George Sheng, a vascular surgeon, has joined the CorVasc surgical practice, which is part of the St. Vincent Medical Group in Indianapolis. Sheng earned his bachelor’s degree in biology from Trinity University. He received his medical degree from Vanderbilt University School of Medicine in Nashville, Tenn.
Adam Horst, director the Office of Management and Budget under outgoing Gov. Mitch Daniels, will become vice president and controller at Indiana University Health. Horst will work under IU Health CFO Ryan Kitchell, who also was Horst’s boss for time in the Daniels administration. Horst holds a master’s degree in political science from Massachusetts Institute of Technology and a bachelor’s degree in government and psychology from Dartmouth College.
Duke Energy Corp., the nation's largest electric utility by market value, reported stronger-than-expected earnings for the third quarter, but company executives said the outlook for strong economic growth in the U.S. is dim.
After a long career at GE, Kelly is the executive responsible for the financial performance of one of the city’s biggest commercial real estate firms.
Joyce Irwin has been named CEO of Community Health Network Foundation, the charitable arm of the Indianapolis-based Community Health Network hospital system. On Oct. 22, Irwin will replace Dr. Jeffrey Boester, who has served as interim CEO since June, following the departure of Michele Dole. Irwin was most recently national director of state government affairs, regulatory and public policy at Roche Diagnostics Corp. in Indianapolis. Before Roche, Irwin worked as a consultant on corporate public policy for Eli Lilly and Co. She holds bachelor's and master's degrees in education from Indiana University.
AIT Laboratories has named Paula Conroy its chief financial officer. Conroy most recently operated her own consulting business specializing in CFO services for privately held companies. Conroy previously worked at the U.S. Securites & Exchange Commission and Ernst & Young LLP. She holds both a bachelor’s in management and an MBA from Purdue University and is a certified public accountant.
Dr. Sarah Ali, an oncologist and hematologist, has joined Franciscan Physician Network Oncology & Hematology Specialists on the south side. Ali earned her medical degree at St. George’s University School of Medicine in Grenada, West Indies, and completed a hematology-oncology fellowship at Michigan State University.
Sean Fallon has been named chief technology officer for CNO Financial Group Inc. He most recently worked at Lincoln Financial Group, where he served as vice president for application development in its group protection division. Fallon holds a bachelor’s degree in business and finance from the University of Wisconsin at Madison and a master’s in finance from the University of Wisconsin at Milwaukee.
The Fishers-based Behavior Analysis Center for Autism hired psychologist Genae Hall as its new research director and consultant. She currently serves as the co-director of Behavior Analysis and Intervention Services. A native of California, Hall holds a bachelor’s degree in psychology from the University of California at Santa Barbara, a master’s in psychology from Western Michigan University, and a doctorate in psychology from West Virginia University.
Indiana University is about two weeks away from issuing a request for proposals on a lease that would last 30 to 50 years, Chief Financial Officer Neil Theobald said. A similar deal at The Ohio State University generated $483 million.
Brightpoint Inc. CEO Robert Laikin stands to receive $14.1 million after his company is acquired by Santa Ana, Calif.-based Ingram Micro Inc., say SEC documents released this week.
Payments on a three-year, $30 million subsidy ended this year, but discussions continue between CIB officials and Pacers officials on future leases involving Bankers Life Fieldhouse.
With spending running well ahead of revenue, West Lafayette-based Bioanalytical Systems Inc. ousts its CEO in favor of its CFO.
When Helene Cross arrived to lead Fairbanks Addiction Treatment Center in 2001, the alcohol and drug rehabilitation hospital was as sick financially as its patients were physically.
The northeast-side school district has sold one building, has three offers for another and is seeking tenants for 100,000 square feet in a third building.
Mark S. Adams Building Corp. 8058 Bowline Drive, 46236 (317) 590-3690 / fax (317) 826-0120 Website: msabuildingcorp.com Average price of homes: $700,000 Areas of most activity: Marion County Head(s) of local operations, title(s): Mark Scott Adams, president Owner(s): Barbara W. Adams, Mark Scott Adams Established locally: 1980 Adams & Marshall Homes Inc. 9310 N. Meridian […]
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."
In mid to late May, many news outlets [May 14 IBJ] covered a story with Indianapolis International Airport board President Mike Wells prominently reporting that the airport suffered a $31.3 million operating loss in 2011.