Client seeks lost revenue from Oxford Financial
Reid Hospital & Health Care Services in Richmond alleges the financial adviser’s delay in selling investments cost the hospital more than $2.5 million.
Banking & Finance
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Indianapolis attorney pleads guilty to theft charges
An Indianapolis attorney has pleaded guilty to theft charges after prosecutors say she took nearly $600,000 from two accounts for which she was responsible.
Fishers collection agency expanding, adding 140 jobs
DECA Financial Services LLC plans to add 140 jobs by 2015 as part of a $2.6 million expansion that includes the purchase of a building on Visionary Way in Fishers.
Daniels signs inheritance-tax, kindergarten-funding bills
Indiana Gov. Mitch Daniels on Tuesday signed a rollback of the state's inheritance tax. The law will decrease the state's inheritance tax in stages beginning next year until it is eliminated after 2021.
Dynamics in place to mint public companies aplenty
Indianapolis attorneys say numerous local private firms are on the IPO sidelines, mulling whether to try to capitalize on the strengthening economy and improving investor appetite for new issues.
Carmel councilors want final say on city’s debt
Carmel City Councilor Eric Seidensticker on Thursday morning proposed an ordinance that would require the council to sign off on any additional debt. The ordinance is backed by at least five of the seven councilors.
Foreclosures surge in most states, including Indiana
Indiana saw default notices climb 37 percent in February compared to February 2011. Scheduled home auctions were up 92 percent from the previous year.
Indiana Live parent seeks Chapter 11 loan extension
Indianapolis Downs LLC, parent company of Indiana Live horserace track and casino in Shelbyville, wants lenders to grant a one-year extension of financing for the Chapter 11 reorganization that otherwise would expire in April.
Allison shares rise in first day after expanded IPO
Allison Transmission Holdings Inc. shares rose 1.7 percent in their trading debut Thursday after the Indianapolis-based manufacturer raised more than sought in its initial public offering.
Three Anderson workers fired over relatives’ HUD funds
Three employees of an Anderson department that receives federal money for affordable housing have been fired for failing to notify city and federal officials that they had relatives whose housing was paid for with the funds.
Analysts lukewarm to Allison ahead of market debut
Shares of Allison Transmission Holdings Inc. are expected to begin trading Thursday, but the early reaction to the IPO from analysts is lukewarm. The locally based company’s private-equity owners are offering 21.7 million shares for $22 to $24 apiece, which could raise as much as $522 million.
Zionsville real estate schemer sentenced to 30 months
A Zionsville man who pushed real-estate investing schemes has been sentenced to 30 months in prison after pleading guilty to wire fraud and money laundering.
Emmis vote could deal blow to preferred shareholders
Emmis Communications is calling a special meeting where investors will be asked to eliminate the right of preferred stockholders to receive millions of dollars in dividends. The firm also seeks approval for a reverse stock split that would prevent a looming NASDAQ delisting.
Teachers trust fund broker reaches settlement
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, has reached a settlement. Karandos agreed to a 75-day suspension from working in the securities industry and may pay up to $50,000 in restitution.
Local mortgage firm lands $25M in private equity
Indianapolis-based Stonegate Mortgage Corp. has received funding from Long Ridge Equity Partners, a private-equity firm, to help it expand in mortgage origination and servicing, the company said Monday.
Angel investors love health care deals
Health care venture capital has become scarcer in Indiana the past two years, but there are indications that angel investors are picking up some of the slack.
Record-low rates aren’t creating rush at local mortgage firms
Local mortgage industry executives say record-low interest rates aren’t leading to a big boom in business because broader economic issues are keeping large parts of the population from seeking or qualifying for loans.
Lawmakers end right-to-work dominated session
Indiana lawmakers came roaring into their 2012 session with a battle over right-to-work legislation. Now they are leaving quietly with a new statewide smoking ban, changes to the state's education system and rules giving homeowners the right to forcibly keep police from entering their homes.
LISC sues to foreclose on Emrich’s Furniture building
LISC, a not-for-profit lender, says it has not received any payments on its $515,265 construction loan since Jan. 1, 2011, and is owed more than $228,000.
Fuel prices wreak havoc on Republic Airways turnaround
If the cost of aircraft fuel continues to approach $3.50 a gallon, 2012 fuel costs for the company's Frontier unit fuel will end up $40 million higher than the business plan.