Menard ousts Hilbert from investment firm
Steve Hilbert has been ousted as CEO of Indianapolis-based MH Private Equity after a bitter battle with John Menard, the hardware store king who financed the $500 million private equity firm.
Banking & Finance
Articles
Dow record doesn’t impress Wall Street workers
There were no signs of a celebration on Wall Street after the Dow Jones industrial average closed at an all-time high Tuesday. Maybe the memories of the financial meltdown are too fresh, or outlook for the economy is too uncertain.
Dow Jones industrial average closes at record
The Dow Jones industrial average closed at a record Tuesday, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.
KAR Auction Services announces secondary offering
KAR Auction Services Inc. said Monday that there will be a secondary offering of 13 million shares of its common stock.
Carmel auto-dealer lender plans to add 169 workers
Carmel-based NextGear Capital plans to add 169 jobs at a new office in Carmel, the company announced Monday morning.
Carlyle to manage $150M investment fund for Indiana
Washington, D.C.-based Carlyle Group LP, the world’s second-biggest private-equity firm, was awarded a contract to manage a new $150 million investment fund on behalf of the Indiana Public Retirement System.
Lampoon: Durham used $1M from company to pay attorney
Film company once headed by Indianapolis financier Tim Durham says he transferred $1 million to his Indianapolis lawyer, John Tompkins, while fighting federal securities fraud charges.
Local housing projects get $3.4M boost from tax credits
The Indianapolis developments include new apartments for seniors, the developmentally disabled and homeless veterans, using sites such as Fort Harrison and the former Central State grounds.
JONES: Lessons for the 2013 IPO market from Facebook
With the Dow Jones industrial average and the Standard & Poor’s 500 index hovering at or near all-time highs, one would think the stock markets would be highly receptive to initial public offerings in 2013, even if the economy disappoints.
LANGFORD: Banks must move toward greater access, flexibility
Consumers want more than ‘one message fits all.’
Stonegate Mortgage raising new round of funding
Fast-growing Indianapolis company is pushing to fill a vacuum in the housing market.
First Internet Bank leverages online roots
The Indianapolis-based bank, launched just 14 years ago, is reaching all-time highs in assets and profitability and plans to become a $1 billion institution by 2015.
Carmel family members accused of securities fraud
The Indiana securities division accuses Charles Blackwelder, Chad Blackwelder and Cara Grumme of defrauding elderly investors in a scheme to sell ownership interests in rental properties.
Bank foreclosing on former charter school property
Old National Bank is suing the operator of charter school that closed last summer in Indianapolis, claiming it failed to pay off the $1.8 million balance on its mortgage.
UPDATE: First Internet slips 2.5 percent in debut on NASDAQ
Shares of the Indianapolis-based bank finished their first day on the NASDAQ exchange at $28.50, a 75-cent drop from their opening price. The stock had been listed on the thinly traded over-the-counter market.
Market’s surge fuels wave of executives’ insider selling
Insiders at Indianapolis-area companies cashed in millions of dollars of their own companies’ shares this month, a selling spree that might reflect growing sentiment the market rally is ending.
Critics of WellPoint choice may not be easily swayed
It's way too early to declare the board dysfunctional for making a surprise choice—Joe Swedish, CEO of Michigan-based hospital system Trinity Health—for the company’s new CEO.
IU professor patents tweet-analyzing software
Researchers have found that when people get more anxious, there is a good chance of the market dropping three or four days later.
WellPoint hikes quarterly dividend by 30 percent
The Indianapolis-based health insurer expects to return about $2 billion to shareholders this year, through the dividend and share buybacks.
First Internet plans 48 jobs in $4.3M Fishers office
The $4.3 million expansion will go toward purchasing and refurbishing a building near Interstate 69 and 116th Street that formerly housed the St. Vincent Health medical center.