While many banks were getting drunk on loose lending in the last few years, most credit unions stuck to conservative lending
and other plain-vanilla banking practices.
After a 17-year run in Indianapolis, National City’s trademark green signs are set to be replaced with the blue of Pittsburgh-based PNC Financial. The $5.6 billion deal raises questions about the government’s growing involvement in banking.
The city has decided to support a request by Buckingham Cos. to abate part of the additional tax liability stemming from its $2.5-million renovation of…
That thud you just heard was the sound of thousands of people falling off the Indianapolis Colts bandwagon. Yes, the argument of how soft—or hard core–this converted football town is, has begun anew….
It’s unclear how the resignation of U.S. Tennis Association chief exectuive Arlen Kantarian will affect the Indianapolis Tennis Championships. Kantarian, 55, announced his resignation from the USTA this afternoon after eight…
If you’re feeling threatened at this Sunday’s Indianapolis Colts game at Lucas Oil Stadium, or if some obnoxious fan near you is dropping the F-bomb left and right for all your kids to…
Beech Grove is working on a redevelopment proposal for its St. Francis Hospital campus. The tentative plans call for a mix of office, senior residential and possibly retail….
In a unique marketing campaign, the Indiana Pacers are asking fans to paint the town for the home opener Nov. 1 against the Boston Celtics. The team even went so far as to send out…
Indianapolis attorney Fred Glass demonstrated a keen sense of humor during a press conference held this morning to introduce him as the next Indiana University athletic director. Given the expected sanctions on the…
The 13-person search committee charged with finding candidates for Indiana University’s soon-to-be vacated athletic director position has paired its short list down to three candidates, according to two sources within IU’s athletic department.
Indianapolis…
The honeymoon in Australia between the Indy Racing League and locals ended almost before it began. The day after local newspapers published huge sections featuring the IRL race and drivers, local stories came…
The city is looking for a new tenant for the former Broad Ripple Monon rail station at 901 East…
The Steak n Shake Co. has dropped plans to build 20 new restaurants, is cutting overhead expenses by about $20 million,
and closed 14 locations. The Indianapolis-based restaurant chain found $16 million in tax savings dating
back to 2006 and is working on a new, simple menu built around burgers, fries and milkshakes–all part of
a turnaround plan orchestrated by the chain’s new CEO, Sardar Biglari.
Expecting a rocky 2009, locally based Kite Realty Group Trust sold nearly 5 million new shares in October to quickly raise almost $48 million in cash. The retail real estate investment trust saw its stock price tumble after the $10.55-per-share offering, from a close of $11.19 the day (Oct. 2) it announced the sale to $7.44 by Oct. 10. The deal dilutes existing shareholders, but company officials say it puts Kite in a stronger cash position to pay down debt…
Retailers usually get that Christmas-morning feeling of anticipation for the holiday shopping season. This year, many are just hoping to survive. As consumers tighten their spending to cope with higher prices and shrinking savings, stores big and small are feeling the pinch. Some stores, including Linens ‘n Things, have filed for bankruptcy and plan to liquidate. Others, like Circuit City, still are fighting for survival. The holiday shopping season is looking more like a make-or-break period than the annual windfall-an…
The Tennessee Titans are willing to pay what the Indianapolis Colts would not for three players, and now hope to use the trio against the AFC South rival Colts when the teams square…
Layoffs are unlikely for employees of National City Corp.’s 77 Indianapolis-area bank branches, but back-office employees may be at risk after the Cleveland-based bank agreed today to sell itself to a Pittsburgh bank, observers say.National City, the second-largest bank in the Indianapolis area, agreed to be absorbed by PNC Financial Services Group Inc. in a […]
Cleveland-based National City Corp., the second largest bank in the Indianapolis area, has agreed to sell itself to a Pittsburgh bank in an all-stock deal that values National City at just $2.33 per share.The $5.6 billion deal with Pittsburgh-based PNC Financial Services Group Inc. will create the nation’s fifth-largest bank by deposits and fourth-largest by […]
The Indy Racing League is being greeted with much fanfare in Australia this week, but it remains doubtful the open-wheel series will return to race at Surfer’s Paradise next year.
The first two days…
IU basketball coach Tom Crean is turning out to be quite a recruiter. And I’m not talking about basketball. Crean, who has already been named to the committee responsible for finding a short…
