Pittsburgh-based PNC Financial Services Group Inc. acquired struggling National City Corp. on Dec. 31 for $5.6 billion. Before their merger, PNC had no presence here, while Cleveland-based National City had 172 Indiana branches, including 75 in the Indianapolis area. PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger, the recession […]
PNC CEO James Rohr, 60, recently sat down with IBJ to discuss the merger between PNC
Financial Services Group Inc. and National City Corp., as well as the recession and PNC’s strategy.
Markets, no matter how imperfect, not government programs, manage the economy.
Tim Durham is facing allegations of self-dealing after a publicly traded company he helps run in Dallas acquired assets from
a finance company he owns in Ohio.
In the past, lawmakers ignored the need to fix financing for the Unemployment Insurance Trust Fund, and now they must come
up with solutions that will be difficult for both Democrats and Republicans to accept.
For almost 20 years, the Gene B. Glick Co. has been a sleeping giant. The state’s largest owner and manager of apartments spent much of the 1960s through the 1980s building a massive portfolio of apartment communities, mostly for low-income residents. The empire had grown to 100 properties and 18,000 total units across 10 states […]
House Bill 1338 introduces a change to many (but not all) of our state’s tax incentives, adding what is known as a “clawback” provision, offering a reasonable and fair adjustment to our current tax incentives.
A new generation of company leadership is revving the Gene B. Glick Co. and building and buying apartment complexes again.
At first glance, the smart way to profit from the real estate downturn seems obvious: Buy foreclosed homes, fix them up and resell them for a profit. After all, there’s no shortage of supply. In February, Marion County alone had 1,640 new foreclosure filings. There’s just one hitch. The strategy that fueled such TV programs […]
Instead of buying and selling, investors with ready cash are buying houses at substantial markdowns, turning them into rental
properties and sitting tight until the market improves.
Marion County Treasurer Michael Rodman is scheduled to deliver an update today on distribution of long-delayed local property-tax bills worth a combined $1 billion. He now expects to put the bills in the mail by June 1. Rodman, a Democrat, will make his presentation to the City-County Council’s Administration and Finance Committee at 5:30 p.m. […]
Marion County Treasurer Michael Rodman is scheduled to deliver an update today on distribution of long-delayed local property-tax bills worth a combined $1 billion. He now expects to put the bills in the mail by June 1. Rodman, a Democrat, will make his presentation to the City-County Council’s Administration and Finance Committee at 5:30 p.m. […]
Layoffs could put Simon in violation of HQ incentive agreement. Noblesville put up big bucks to spur Hamilton Town Center development. It’s hard to imagine Indianapolis without the Simon family. The mall owner Simon Property Group Inc. is one of the city’s most prominent corporate citizens, the company-developed Circle Centre mall acts as downtown’s heart, […]
The Simon family’s role in building the city has come at a steep price for taxpayers. Simon and
its business interests in the last 20 years have collected local government incentives
worth more than $400 million, an IBJ tally of those deals shows.
Chrysler LLC filed for Chapter 11 bankruptcy protection in New York today and will form an alliance with the Italian carmaker Fiat Group SpA in an effort to revive the nation’s ailing third-largest automaker. The move will idle Chrysler production workers across the nation for 60 days or more, including about 6,000 employees in Indiana […]
I’ll take a break from my NYC dispatches so that IBJ reporter Kathleen McLaughlin can offer this report.
Philanthropist Jeremy Efroymson has a rather unorthodox plan for leading the contemporary art venue that he co-founded out of financial straits.
Efroymson will become…
By preserving residency as a condition to distribute booze, our Legislature is protecting Indiana’s existing liquor distributors, many of whom do business in neighboring states like Illinois and Michigan. This antiquated standard is anti-competitive and ultimately means higher prices and reduced selection for Indiana residents.
General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government. Normal 0 false false false MicrosoftInternetExplorer4 GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial […]
General Motors filed for Chapter 11 bankruptcy protection today as part of the Obama administration’s plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.GM’s bankruptcy filing is the fourth-largest in U.S. history and the largest for an industrial company. The company said it has $172.81 […]
The Indianapolis Metropolitan Development Commission this afternoon approved a city plan to partner with a private developer on a $65 million downtown redevelopment project adjacent to the former site of Market Square Arena. The plan, approved by a 7-2 vote, allows the city to enter into a project agreement with the developer, an entity called […]
