Twice-bankrupt ATA finally folds
Any hopes that hometown airline ATA would make a comeback and eventually resume scheduled service from Indianapolis were dashed
April 2, when it filed for bankruptcy and ceased operations.
Banking & Finance
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Stock markets weather historic plunge
Unless markets surge in the final days of the year, 2008 will go down as the worst year for stocks since the Great Depression.
Indiana banks accepting TARP funding
Many of Indiana’s banks jumped at the chance to apply for a share of the federal government’s capital-infusion program, and
ones that win approval likely will accept the funds designed to shore up still-healthy financial institutions.
Time to close book on ’08, and not a moment too soon
For investors across the globe, most
would agree that 2008 was an annus horribilis. Anyone with a vague recall of Latin will arrive at the translation of "horrible year."
Conseco’s investment loss of $96 million ‘pretty good’ by comparison
Eric Johnson, Conseco Inc.’s president over its investment unit called 40/86 Advisors, talked with IBJ about the surprises
of the investing world over the last 18 months.
Stay liquid, flush with cash in these tumultuous times
Liquidity is king! Stay away from long-term, illiquid commitments until the equity markets really flash sustained levels of
demand.
Stitle: Bank’s sale to PNC fuels ‘burst of adrenaline’
“I have no intention of retiring â?? now or ever,” said Steve Stitle, CEO of National City Bank in Indiana, after the bank
was purchased by PNC Financial.
Givers get strategic
Wealthy people are getting more advice from hired professionals and less from peers and not-for-profit personnel when
making
decisions about charitable giving, a new study shows.
Weird yields for Treasuries evidence of investor angst
A large number of investors are so fearful these days that they have flocked to the safest securities, pushing down interest
rates to virtually nothing.
Interconnected economies exacerbate our challenges
Increasing specialization and interdependence worldwide results in worldwide economic difficulties.
Diesel dip in price not fueling trucking recovery
Hampered much of the year by high fuel prices, trucking companies still may be in for a long haul before they’re back on the
road to recovery.
Lease-to-own options becoming more popular
With credit tight and the economy shaky, homeowners around the region are increasingly choosing to sell their properties on
a lease-to-own basis.
Worst fallout to come in waning days of recession
The Dec. 1 announcement by the Business Cycle Dating Committee of the National Bureau of Economic Research officially dated
the recession back to the fourth quarter of 2007.
Bold bets on Hoosier firms yield horrific results so far
The millions of dollars they plunked down to buy stock in local companies over the past two years have shriveled in value,
leaving them way, way below break-even.
NFP of NOTE: Momentive Consumer Credit Counseling Services
Momentive Consumer Credit Counseling Services work to change lives by helping people gain financial stability.
Study says most U.S. pensions are poised to recover
A new national analysis of U.S. public pension funds suggests most invest prudently, even in volatile times.
Analyzing intrinsic value unearths some bargain stocks
investors looking at business valuations likely will conclude there are companies selling at
prices less than their intrinsic values.
State public company execs grab up stock as prices fall
The unprecedented plunge on Wall Street the last three months has spurred a couple of dozen executives and directors at Indiana
public companies to scoop up shares in their own companies.
Automotive Finance Corp. writes off $162 million, reflecting slow auto sales
Slowing auto sales have forced Carmel-based Automotive Finance Corp., which lends money to car dealers to buy used vehicles
at auction, to take a big write-off on the declining value of its loan portfolio.
Greensfork Township State Bank to acquire local startup that failed to live up to high hopes
A rural Indiana bank that specializes in farm lending has agreed to buy Symphony Bank for less than the ambitious startup
spent to build its extravagant branch on 96th Street.