Rash of bank failures sure to spread to Indiana
Not a single Indiana bank has failed since the sector tanked last year. But Bob Jones, CEO of Old National Bancorp in Evansville,
figures it’s only a matter of time.
Banking & Finance
Articles
Developer Lauth’s bankrupt units win round in court
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals
to retain control of three subsidiaries in Chapter 11 bankruptcy.
Indiana converting to centralized accounting system
Indiana state government will fully convert to a uniform financial accounting system by Sept. 16.
Former business owner Hockett sentenced for bank fraud
A federal judge this morning sentenced a former Indianapolis business owner to 18 months in prison after he pleaded guilty
to bank fraud in May.
Fitch strips Indianapolis of prized AAA bond rating
Fitch and other rating agencies are concerned that the phase-in of property tax caps will further strain the city’s finances.
Venture firms recapitalize Advanced Physical Therapy LLC
Locally based venture capital firms Cardinal Equity Partners and Centerfield Capital Partners have joined with Chicago-based
bank Harris NA to recapitalize the state’s largest independent physical therapy provider.
First Indiana deals stemmed from broader probe
The insider-trading settlements announced by the Securities and Exchange Commission this week were an outgrowth of a broader
inquiry into trading in First Indiana Corp. by dozens of people before its sale two years ago, according to a former director
of the bank.
Locals settle First Indiana insider-trading case
The Securities and Exchange Commission said today that it has settled insider-trading charges against three local residents
who bought shares in First Indiana Corp. immediately before the July 9, 2007, announcement that it was being acquired by a
Milwaukee bank for a 42-percent premium.
Dodson Group CFO to plead guilty to wire fraud
A former chief financial officer for The Dodson Group has agreed to plead guilty to wire fraud after admitting to stealing
$422,539 from the Indianapolis-based firm.
BREAKING: Schrenker sentenced to 51 months in prison
Indiana money manager Marcus Schrenker was sentenced to 51 months in federal prison today in Florida on charges that he deliberately
crashed his plane to fake his own death and flee financial ruin, according to the Pensacola News Journal.
Sallie Mae rallies over jobs in Fishers
Sallie Mae CEO Al Lord visited the company’s Fishers office this morning in his latest effort to get the word out that his
business and his employees’ jobs are threatened by a government proposal.
Two local accounting firms among top 100
Katz Sapper & Miller LLP and Blue & Co. LLC are the only two local accounting
firms to crack Inside Public Accounting’s latest top-100 list.
Marcus Schrenker gets prison sentence
The Indianapolis money manager who crashed his plane and parachuted to safety in an elaborate scheme
to fake his death and flee financial ruin, has been sentenced to more than four years in federal prison.
HICKS: As classes begin, students have fresh opportunity
Classes start this week at Ball State University, and other colleges and universities across the country. For many, it is
a bittersweet moment, as parents say goodbye to their now young adults, handing them over to professors and scarily youthful
resident hall assistants for safekeeping.
SKARBECK: For numerous banks, times still troubling
Every Friday after the markets have closed, my e-mail starts getting dinged by the FDIC. That is when the government agency
publicly announces the names of banks that failed during the past week.
Biglari consolidates power, as Steak n Shake rebounds
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
Schrenker faces nine more charges in Indiana
An Indiana money manager scheduled to be sentenced today in Florida on charges he deliberately crashed his plane to fake his
death and flee financial ruin now faces more charges in his home state.
PricewaterhouseCoopers adds BearingPoint consultants
The Indianapolis office of New York-based PricewaterhouseCoopers is adding 20 consultants following the accounting firm’s
purchase of a portion of McLean, Va.-based BearingPoint Inc.
HAUKE: Storybook market may last a bit longer
People keep asking me
to explain the stock market advance over the past five months. There are usually comments at the end of the question, like,
“The economy sucks. How can the market go up when there is nothing going on out there?”
Loan defaults could cost David Marsh his Geist home
David A. Marsh, the former supermarket executive and current president of the Crystal Flash convenience store chain, could
lose his 11,800-square-foot mansion on Geist Reservoir over three defaulted loans.