HICKS: To spend or cut taxes, that is the question
The stimulus and array of bailouts have thus far done little to boost the economy. Neither is there good evidence they kept
things from getting worse.
Banking & Finance
Articles
Homes lost to foreclosure on track to top 1 million this year
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the
more than 900,000 homes repossessed in 2009.
Lugar, Meadows projects get tax credits
Two high-profile apartment projects that were denied tax-credit funding in March recently were awarded the millions of dollars in credits they need to proceed.
SKARBECK: Short-term sizzle can’t beat consistency
To achieve outsized returns, whether in mutual funds or individual stocks, investors must avoid the hype and reliance on past outperformance.
New Jersey names Indiana’s Walsh to head investment division
Timothy Walsh will take over a $68 billion pension fund, eight times larger than the $8.5 billion Indiana State Teachers Retirement
Fund he headed since 2008.
Secondary lender sues Chase over fire sale
Indiana Community Business Credit Corp. alleges breach of contract after JP Morgan Chase auctioned off assets of American
Sentry Guard of Greenwood.
Farmers Bank opening two branches in Hamilton County
Frankfort-based bank plans to open locations in Fishers and Noblesville as part of its plan to expand its presence in Hamilton
County.
Former loan officer charged with falsifying documents
Prosecutors say Robert Tolle falsified a construction progress inspection report while at Old National Bank. He faces a maximum
30-year prison sentence and $1 million fine.
Appraisers have little to go on in tough deal market
Until the market stabilizes, appraisers will be operating in an environment where 20 to 50 percent drops in property values
aren’t uncommon.
Bond swaps cost city units $93M in penalties
Wall Street bankers for decades sold municipalities like Indianapolis on debt instruments called swaps as a safe way to reduce
borrowing costs and hedge against rising interest rates. In reality, the swaps were complicated bets that relied
on misguided assumptions, and taxpayers paid.
Vera Bradley files for $175M IPO
The 28-year-old company reported profit in its latest fiscal year of $43.2 million on $288.9 million in sales.
FBI scoops up Tim Durham’s car collection
An agreement with Durham's attorney paved the way for FBI agents to pick up 18 cars from Durham's residences in Indianapolis
and Los Angeles.
New securities law lets some victims recoup losses
A new state law allows the securities commissioner to award up to $15,000 or 25 percent of unrecovered awards to victims who
can prove that a court or other agency awarded restitution for fraud that occurs after July 1 of this year.
Durham attorney blasts FBI after vehicle seizures
Embattled financier Tim Durham’s lawyer, Larry Mackey, said the FBI should have known a bankruptcy trustee had the titles.
An attorney for
the trustee said investigators were aware.
Lawmakers approve big Wall Street revamp
Bill headed for Obama's desk would reform financial regulation in effort to protect consumers, curb risks, boost surveillance
of threats to markets, and give regulators more emergency powers to avoid future bank bailouts.
Durham willingly turning over assets in Fair bankruptcy
Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
June 24.
RUBENSTEIN: New law may put limits on residential seller financing
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
OneAmerica to acquire McCready and Keene
McCready and Keene Inc. is the fifth-largest employee benefits firm in the Indianapolis area. It employs 95 people nationally, 82 of them in Indianapolis, according to IBJ research.
Sale of local funeral home, cemetery business finalized
Pennsylvania-based StoneMor Partners could pay up to $32 million for Memory Gardens Management Co. after trust-fund and debt
obligations are made.
Schrenker auction expected to fall well short of claims
More than $30 million in claims have been filed against Marcus Schrenker, but a court-appointed receiver expects an auction
of the financier’s property on Saturday to bring in less than $1 million.