New financing may give battered dry cleaner fresh start
US Dry Cleaning’s September 2008 purchase of Tuchman Cleaners was supposed to end years of financial strain for the 25-store Indianapolis chain, but it didn’t happen.
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Precedent joins ranks of battered developers
The Precedent Cos.—the local developer of The Precedent Office Park, Mount Comfort Commercial Park and several upscale residential communities in Hamilton and Johnson counties—is winding down operations in an out-of-court restructuring.
Companies seek equity in return for services to startups
A crop of Indianapolis companies is embracing the practice of developing and marketing products for startups in exchange for an ownership stake.
UPDATE: Borders files bankruptcy, to close 2 area stores
Borders will close its downtown-Indianapolis and Carmel stores as part of its plan to shutter about 30 percent of its stores nationally.
ExactTarget reports record annual revenue
The Indianapolis-based e-mail marketing firm said revenue in 2010 grew 41 percent, to more than $134 million. The company also marked its 40th consecutive quarter of growth.
Bill would allow state takeover of troubled cities
Local governments in Indiana could ask for a state takeover to fix financial troubles instead of declaring bankruptcy under a bill advancing in the Legislature.
Moe & Johnny’s owner files for bankruptcy reorganization
Owner Chuck Mack says popular tavern and restaurant Moe & Johnny’s, open in Broad Ripple since 1996, is in no danger of closing despite the Chapter 11 filing.
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.
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.
Trustee asks for Hansen & Horn bankruptcy to be dismissed
Beleaguered home builder doesn’t appear to have funds available to pay an attorney to prepare
necessary paperwork for Chapter 7 liquidation, trustee says in court filing.
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.
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.
Former Shelbyville office manager charged with embezzlement
Federal prosecutors allege man embezzled $1.6 million from a title insurance company.
Fair Finance trustee to make life tough for people on loan list
Borrowers from Tim Durham's bankrupt finance company will face heavy-handed collection tactics.
Steak n Shake slashes restaurant spending as CEO hoards cash
From 1999 to 2008, Steak n Shake Co. spent an average of $55 million a year to add dozens of restaurants and buy equipment
for existing
ones. In 2009, the locally based
chain spent just $5.8 million.
Entrepreneur says quality of venture capital as important as quantity
Jim Pearson knows a thing or two about raising money from venture capitalists. And he has some advice for BioCrossroads:
Teach entrepreneurs the value of money.
$75M investment in ExactTarget may be Indianapolis record
The amount raised since October is in addition to the $69.9 million it received in May from three venture
firms on the coasts, in what was the third-largest venture deal in the nation during the second quarter,
according to the National Venture Capital Association.
Indianapolis Indians take big revenue hit, but team still profitable
Team profits declined from $1.23 million in 2008 to $459,603 this year. Despite
that, the team’s board voted unanimously to pay a dividend.
Feds seek seizure of Durham’s assets
The federal government has filed court papers seeking forfeiture of Tim Durham’s property, including his 30,000-square-foot
Geist home, another home in Los Angeles and his 2008 Bugatti sports car.
Bank slogan gets acid test
The banking crisis isn’t the only reason to rethink the ubiquitous “We care” theme.