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Indianapolis investment firm KSM Capital Advisors disclosed today that the scandal unfolding around New York hedge fund manager Bernard Madoff could cost its clients as much as $15 million. Making matters worse: KSM’s parent, accounting firm Katz Sapper & Miller LLP, could lose up to 1 percent of its book value as a result of […]
A Boston firm today canceled a tentative agreement to finance National Lampoon Inc. films, a move that follows the arrest yesterday of the Los Angeles company’s CEO on charges he fraudulently manipulated the company’s stock. Envit Capital CEO Edward Laborio said in a statement that he is terminating an October agreement to provide funding for […]
The Indianapolis Museum of Art wants a share of revenue from its restaurant operation rather than relying on a management fee. The change comes as the museum examines four proposals it has received to run its restaurant and café, and possibly a renewed catering service. Chief Operating Officer Jack Leicht said local and national companies, […]
Maarten van Wijk, the general manager hired by The Columbia Club in 2007 to polish its lackluster operations, has been lured back to Hershey, Penn. Club President Gregory Harris informed members of van Wijk’s impending departure in a Dec. 9 letter. “While it is a great disappointment that Maarten is leaving, I am pleased that […]
Indianapolis Motor Speedway officials are looking at a plan to build a new hotel, possibly with a new IMS Hall of Fame Museum, sources close to the Speedway say. IMS officials announced yesterday that the Brickyard Crossing Inn, which is adjacent to the fabled race track, has closed because it would be too costly to […]
I’m sure soon-to-be new Indiana University athletics director Fred Glass took notice of what San Diego State paid to lure football coach Brady Hoke away from Ball State. The cost of luring a…
I’ve recently joined the Facebook revolution. Yes, I know, I’m late in this, but I also didn’t start watching “L.A. Law” until the third season and still haven’t seen “Mad Men,” so I’m not always an early adaptor.
I signed on to Facebook,…
A New York state developer that proposed a recreation and entertainment complex near Daleville a year ago is still pursuing the project. This time, according to The Star Press of Muncie, the complex would be located farther north of the town but still close to Interstate 69. Daleville is between Anderson and Muncie. Developer Joe […]
In a move that probably won’t surprise anyone who tried the food, J. Gumbo’s is closing after a six-month run on the first floor of the Hampton…
National Lampoon Inc. CEO Dan Laikin was arrested at his southern California home this morning, the same day criminal and civil investigators unveiled charges that he participated in a scheme to fraudulently manipulate the company’s stock. The U.S. Attorney’s Office in Philadelphia announced that a grand jury had indicted Laikin, 46, on felony counts of […]
The Securities and Exchange Commission today filed a civil lawsuit charging that Dan Laikin, an Indianapolis businessman before taking the helm of Los Angeles-based National Lampoon Inc. in 2005, participated in a scheme to fraudulently manipulate the company’s stock. Laikin, 46, is one of four defendants in the suit, which was filed in federal court […]
An effort to raise the high school graduation rate in Indiana has attracted an additional $937,500 in corporate contributions, the Indianapolis Chamber of Commerce said today. The contributions bring to $1.7 the total raised for Common Goal, a Greater Indianapolis Chamber of Commerce program aimed at boosting the graduation rate to 80 percent by 2012. […]
Trailer-maker Wabash National Corp. and broadcaster Emmis Communications Corp. are suspending dividend payments as the economy deteriorates. Their announcements in recent days follow a September decision by Evansville-based Integra Bank Corp. to cut its dividend to a penny in order to build capital that had suffered from the housing downturn. Lafayette-based Wabash National Corp. said […]
Fortune Industries Inc. said this morning that it has sold all its businesses outside of human resources, a shift in strategy aimed at reducing the company’s debt and making financial results less volatile. Indianapolis-based Fortune had operated as a conglomerate, with holdings in fields ranging from wireless services to ultraviolet printing. Financial terms of the […]
In good times and bad, the Indianapolis Indians continue to be a hit with local sports fans. The Indians scored a $1.23 million profit this year on $8.7 million in revenue, according to…
The Federal Reserve this week is expected to drop the rate at which banks loan money to each other below
1 percent. That means interest rates on loans for just about everything, from cars to housing, eventually
would fall further.
The…
Locally based manufacturer Deflecto Corp. has told the state that it will close a plant in Indianapolis and another in Fishers, throwing a total of 219 workers out of jobs. However, the company said it may keep a small service office with about 11 employees in the Indianapolis area. Details of Deflecto’s plans were not […]
This weekend, I finally got to see “On Thin Ice: A Very Phoenix Xmas 3” (the best yet). I also hopped over to opening weekend of Actors Theatre of Indiana’s “A Year with Frog and Toad” (as wonderful as last year….
In order to comply with stricter rules from the Internal Revenue Service, schools and other not-for-profits are making changes
and consolidations to retirement plans, creating growth opportunities for companies like Indianapolis-based American United
Life Insurance Co.
Knauf Insulation is cutting 11 percent of its work force in Shelbyville as the recession prolongs the housing downturn that
began two years ago.
