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Conseco Inc. CEO Jim Prieur expressed faith today that his company can answer its auditor’s concerns and avoid receiving an opinion that could roil its debt financing. “We’re very confident that we’ll be able to resolve the issue and provide more information,” Priuer told an investor during a conference call this morning. “[The auditors] are […]
Carmel Mayor Jim Brainard is expected to answer questions tonight at Carmel’s city council meeting about the escalating cost of the massive Keystone Avenue project. The chair of Hamilton County’s Democratic Party is asking the mayor for full disclosure. The improvements, which include plans for six new roundabouts, originally were projected to cost less than […]
South-side commuters have a new option to get to downtown Indianapolis. IndyGo launched its new Greenwood route this morning. The bus leaves from the Meijer store off State Road 135 and arrives at several spots downtown. One-way fair is $3.
Despite the recession, the owners of some Indiana auto service shops say business is pretty good – apparently because many people are too cash-strapped to buy new cars. As the recession forces many people to hang onto older cars rather than buying new ones, it means more trips to the service center to keep those […]
Conseco Inc. CEO Jim Prieur expressed faith today that his company can answer its auditor’s concerns and avoid receiving an opinion that could roil its debt financing. “We’re very confident that we’ll be able to resolve the issue and provide more information,” Priuer told an investor during a conference call this morning. “[The auditors] are […]
An Indianapolis police officer ended up in Methodist Hospital with minor injuries after a hit-and-run accident early this morning in the 1800 block of West Washington Street. Police say the driver who hit the officer ditched his car at the scene and ran off.ISTEP+ testing starting todayToday is the first day of Indiana Statewide Testing […]
The Indianapolis Housing Agency has received five bids from teams interested in developing new residential or commercial space on land surrounding two prominent public housing towers. The agency had asked for proposals for land adjacent to the 21-story John J. Barton Apartments at 555 Massachusetts Ave. and the 15-story Lugar Tower at 901 Fort Wayne […]
The Indy Racing League’s new TV partner is getting ready to launch a full-throttle promotional offensive. The Comcast Cable-owned Versus TV network is launching a promotional campaign March 7 that will not only be…
Ora Hirsch Pescovitz, CEO of Riley Hospital for Children and executive associate dean for research affairs at the Indiana University School of Medicine, has accepted the top leadership position at the University of Michigan Health System. Pescovitz, 52, has been named executive vice president for medical affairs at the university and CEO of the U-M […]
The Indianapolis Housing Agency has received five bids from teams interested in developing new residential or commercial space on land surrounding two prominent public housing towers. The agency had asked for proposals for land adjacent to the 21-story John J. Barton Apartments at 555 Massachusetts Ave. and the 15-story Lugar Tower at 901 Fort Wayne […]
After posting a $1 billion loss last year, Carmel-based Conseco Inc.’s future is in jeopardy. The losses have caused the life insurer’s debt as a percentage of its total capital to rise sharply, nearly to a level that would violate an agreement with its lenders. Conseco’s auditor, PricewaterhouseCoopers, said it might include a “going-concern” warning […]
The legal woes continue for National Lampoon Inc., the Los Angeles-based magazine publisher and movie production company led by Indianapolis businessman Tim Durham. Court documents filed by the landlord of National Lampoon’s West Hollywood headquarters say it owes nearly $40,000 in back rent and could be evicted for nonpayment, according to entertainment news Web site […]
The private Todd Academy plans to move into a historic building at the northwest corner of East and New York streets in Lockerbie Square. The building is…
The Dow Jones industrial average plunged below 7,000 this morning for the first time in more than 11 years as investors grew pessimistic about the health of banks as well as the general economy. The Dow hadn’t traded below 7,000 since Oct. 28, 1997, and last closed below that mark on May 1 of that […]
Duke Realty Corp. has ended a year-long stretch without a chief financial officer, hiring Christie B. Kelly to the post effective Feb. 27, the Indianapolis-based company announced today. Kelly, 47, a former financial executive at General Electric Co. and Lehman Brothers Inc., replaces Matthew Cohoat, who stepped down last March. Kelly most recently was senior […]
Conseco Inc. said this morning that its auditors are considering including a clause in the company’s annual report expressing uncertainty about whether it can remain a “going concern.” The Carmel-based insurer also said preliminary fourth-quarter results indicate it lost $406.8 million or $2.20 a share. Driving down results was an $88 million loss in its investment […]
A Hancock County man has been sentenced to 27 months in prison on guilty pleas to wire fraud and money laundering. U.S. Attorney Timothy M. Morrison said 45-year-old Frederic Bowles Jr. of McCordsville admitted obtaining fraudulent loans for investors by submitting false loan applications, financial documents and appraisals. Morrison said Bowles obtained the loans to […]
The U.S. government today unveiled a revamped rescue package to insurance giant American International Group and will provide the troubled company another $30 billion on an “as-needed” basis. The new package comes as the company has burned through cash and has been unable to find buyers for pieces of its company that it hoped to […]
Democrats and Republicans in the Indiana General Assembly carved out some wide, partisan divides on several big issues during the first two months of the 2009 legislative session, setting the stage for a second-half rumble. Lawmakers reached the session midpoint – when bills passed by the House and Senate are taken up by the opposite […]
