Irwin Financial trustee poised to sue insiders
Court papers reveal officers and directors of the holding company for the failed Columbus-based bank will soon be defendants in a $40 million suit.
Banking & Finance
Articles
Bank of America seeks to dismiss racketeering suit
Homeowners Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown home last year.
Angie’s List attracts $2.5M infusion
The investment is from a San Francisco-based firm and follows a $22.5 million investment the company received in October from multiple investors.
Teachers Credit Union chooses new leader
Senior vice president Paul A. Marsh will take over for Richard J. Rice, who has been president of the credit union since 1987.
Citigroup subsidiary agrees to $717,000 Indiana fine
The penalty stems from charges that Citigroup Global Markets failed to monitor a former agent accused of working with Robert Nelms, who was sentenced in May for securities fraud involving a $24 million cemetery trust fund operated by Indianapolis-based Memory Gardens Management Corp.
Indiana firm pays W. Virginia $175,000 in consumer case
West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
Indianapolis Super Bowl project gets $1M boost
The grant from JPMorgan Chase Foundation clears the way for construction of the Chase Near Eastside Legacy Center.
Finish Line cash hoard could draw out suitors
Citigroup Capital Markets retail analyst Kate McShane has Finish Line near the top of her list of potential leveraged-buyout candidates.
HAUKE: Stock market, as usual, gets it right again
I’ve noticed a growing number of experts who are confused and confounded by the rising stock market. They refuse to believe what their eyes are telling them…
HICKS: Fed ‘easing’ into another stimulus plan
Federal legislation dating from the Truman administration compels the Fed to try to achieve the lowest possible levels of unemployment and inflation. Unfortunately, minimizing both is not possible.
Indiana Live owners miss interest payment
The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.
Old National profit rises
The Evansville-based bank reported a third-quarter profit of $11.9 million, up from $4 million in the year-ago period.
Lender Oak Street acquired by New York firm
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
Indiana life sciences sector copes with shrinking VC pool
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
SKARBECK: Changes on horizon for mutual fund fees
The U.S. Securities and Exchange Commission is proposing significant changes to the structure of the annual marketing or distribution fee on mutual funds known as a 12(b)-1 fee.
This election, take note of ‘opportunity cost’
I think it is an idea that separates those who make decisions from those who want to talk about them and, in application, is an idea that distinguishes serious from unserious people.
Secretary of state files complaint against teachers’ fund broker
David Karandos, a broker who advised the Indiana State Teachers Association Insurance Trust before it collapsed in 2009, is facing an administrative complaint from the Indiana Securities Division, which alleges 13 violations for unethical, dishonest and deceptive practices.
Farmland sales go flat in suburban Indianapolis
The real estate bust and a drought in transactions make values all but impossible to gauge.
Owner of city apartment complex files Chapter 11
The owner of a 518-unit apartment complex on the northwest side of Indianapolis is seeking Chapter 11 bankruptcy protection as it disputes the amount of its mortgage debt with its lender.