Charter Homes recruited and paid buyers to take out inflated mortgages on dozens of central Indiana homes it built, promising to manage the properties as rentals and make payments for the owners, current and former Charter business partners say.
Stocks in Indiana and across the globe shot higher this morning, wiping out some of the devastating losses of last week, one of the worst in the history of Wall Street. In late morning trading, the Dow Jones industrial average was up more than 450 points, or 5.5 percent. The S&P 500, meanwhile, had advanced […]
“Be fearful when others are greedy and greedy only when others are fearful.” This philosophy, which Warren Buffett espoused to a group of Columbia University students when he was just 21, has served the billionaire investor well. And it may serve you well as you navigate the ugliest stock market in three decades. To be sure, the thrashing that stocks in Indiana and across the globe have weathered in recent weeks has been nearly across the board-savaging the shares of…
If someone slips and falls in a parking lot, was it the fault of the property owner because he didn’t plow, or was the snow not deep enough in that area to prove a duty to plow? If a child darts in front of a car at dusk, were the conditions at that moment in the day enough for the driver to be able to see the child? Should the driver legally have had his or her headlights on, and…
Indianapolis advertising executive Dan Roman and several other employees have departed Roman Brand Group in the wake of a merger with Akron, Ohio-based Malone Advertising. Both Roman Brand Group and Malone Advertising are part of New York advertising heavyweight JWT. Under a plan that went into effect Oct. 1, Roman will have two general managers, […]
A rush of government-aided acquisitions has bestowed a too-big-to-fail halo over the likes of JP Morgan Chase, Bank of America and Citigroup. But what about the formidable regional banks that operate more than half the bank branches in the Indianapolis area? How stable are banks like National City, Huntington, Fifth Third, Key, M&I and Regions? Their shares have endured a rough ride on Wall Street, but there’s little evidence the ups and downs reflect the true health of the institutions….
Ground should be broken late this month or in early November, with completion expected by summer. Cost of the 40,000-square-foot facility-4,000 square feet smaller than the one here-is estimated in the $8 million to $10 million range. While it may be a bit smaller in size, the scope is broader. The new incubator will promote both life sciences companies and information technology firms. That goal differs from the mission of the existing IU Emerging Technologies Center on 10th Street, which…
They’re overshadowed in all the talk of a commuter rail line and its cosmopolitan allure. And they don’t get headlines like Indy-Go does when it launches another route to whisk Carmel and Fishers suburbanites to work downtown. But rural transit providers in the nine doughnut counties quietly generate economic growth by hauling hundreds of thousands of people each year in small buses or vans to doctors’ offices, shopping centers and jobs. Suburban businesses have been grousing for years that the…
Former insiders of One Call Communications appear to be targets of a Justice Department criminal inquiry, according to a filing by the defunct company’s court-appointed receiver. Pittsburgh-based Meridian Group said it was served a subpoena Sept. 19 from the U.S. Attorney for the Western District of Pennsylvania to testify before a grand jury on Oct. 21 on matters involving One Call.
A baby born of Indiana telecom reform is having some teething pains. AT&T’s U-verse, Ma Bell’s high-tech answer to
cable television’s troika of video/voice/Internet service, has generated several consumer complaints to
state regulators since it was rolled out here in earnest last year. The complaints range from long installation
times to frozen television pictures that require rebooting the system or calling a technician.
Three-quarters of Indiana stocks for which short-selling has been banned have lost value since the ban took effect last week. Fifteen of the 20 Indiana financial services firms put on the list by the U.S. Securities and Exchange Commission on Sept. 18 have seen their shares drop. The SEC banned short-selling because of concern that […]
Capital Group Cos., the Los Angeles-based parent of mutual fund giant American Funds, said today that it plans to add enough space at its 24-acre campus in Carmel to support an additional 500 employees. If the privately held company were to fill the new buildings, total employment would come to 1,500 – a 50-percent boost. […]
Conseco Inc. Chairman Glenn Hilliard snapped up 89,100 shares of the company late last week – at about the same time CEO Jim Prieur bought 200,000 shares, regulatory filings show. Hilliard acquired his shares for $4.61 to $7 each; Prieur acquired his for $4.35 to $4.97. Conseco stock has been flagging since the Carmel insurer […]
Looking east from the 27th floor of Chase Tower, lawyers at Bose McKinney & Evans LLP can clearly see their former offices at M&I Plaza. But the short distance didn’t make the firm’s traipse across Pennsylvania Street to its new home any easier. Just ask Vicki L. Bruce, the firm’s chief operations officer, who coordinated the cumbersome move that concluded Labor Day weekend. “You still have to load up a truck,” she said, “and it has to be staged properly.”…
Goodbye elevated guideway. Goodbye buses zooming down paved-over rail beds. For that matter, forget about commuter trains running down the median of Binford Boulevard and I-69. Or along Allisonville Road or Keystone Avenue. These northeast corridor rapid-transit options, cheered and jeered by residents in the debate over rapid transit, officially get thrown from the train on Sept. 26. That’s if a regional government group votes to accept the recommendation of the Indianapolis Metropolitan Planning Organization for running diesel light rail…
Conseco CEO Jim Prieur bought 200,000 shares in the company today, the Carmel insurer disclosed. The purchase brought Prieur’s stake to 430,000 shares, according to Bloomberg. Prieur acquired the shares for $4.35 to $4.97 a share. The stock is up 22 percent today, to $4.62, after having lost nearly half its value this week. The […]
The wife of former Conseco Inc. chief counsel Lawrence Inlow has lost a court appeal in which she attempted to prevent money from a wrongful death settlement with the Carmel insurance company from being used to pay for his funeral. The decision means the $248,034 cost of the funeral and burial will be taken from […]
As stock prices of Wachovia Corp. and other big names in banking take massive hits, regional banks like Integra and Old National in Evansville are quietly racking up large gains. An analysis of the best-performing Indiana stocks since Sept. 1 reveals regional banks atop the list. Integra Bank Corp. has seen its shares soar nearly […]
Carmel-based Conseco Inc. disclosed late yesterday that it hassuffered a $40 million loss on sales of its investments in Lehman Brothers, American International Group and Washington Mutual Inc. As of yesterday, Conseco still had $103 million invested in the companies. Wall Street firm Lehman has gone bankrupt; AIG, a giant insurer, is being bailed out […]
Roundabouts earn Time’s attention HAMILTON COUNTY – Carmel love affair with roundabouts is attracting national interest. An article in the Sept. 15 issue of Time magazine points to Carmel as the leader in the growing traffic-management trend. Time notes that, since 2001, Carmel has built 50 roundabouts, which take the place of intersections with stoplights. […]
