REITs tumble most since 2011 on concern of rising rates
Shares in U.S. real estate investment trusts fell the most in 19 months Wednesday. Three major REITs, all based in Indianapolis, saw their shares drop on Wednesday.
Banking & Finance
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World looks to Bernanke to clarify stimulus plans
Financial markets have been gyrating in the 3½ weeks since Bernanke told Congress the Fed might scale back its effort to keep long-term rates at record lows within "the next few meetings"— earlier than many had assumed.
Hilbert puts MH management company into Chapter 11
The move, the latest fallout from the executive's feud with hardware king John Menard, puts on hold a Wisconsin lawsuit that sought millions of dollars from the company.
Estate of Financial Center’s former CEO seeks death benefit
The widow of former Financial Center CEO Roger Youngs alleges in a lawsuit that the Indianapolis credit union owes his estate $936,162, per his retirement agreement.
Suit: Menard pressured Tomisue Hilbert for sexual favors
The lawsuit charges Tomisue Hilbert’s rejection of the billionaire is the real reason he launched a bitter battle to remove her husband, Steve Hilbert, as CEO of the Indianapolis-based private-equity funds the three of them started in 2005.
Top 6 ExactTarget officers reap $92.5M in option gains in sale
The gains for top brass represent about one-third of the $277 million in option gains that the company's 1,700-person work force will rack up, regulatory filings show.
Most of Indiana’s largest public companies enjoyed strong 2012
Angie’s List turned a profit for the first time in nearly two decades.
Agency: Opting for overdrafts means higher fees
A U.S. agency says consumers who opt for overdraft coverage on their checking accounts pay higher fees and are more likely to have their accounts closed than those who decline it.
Bank gives Indy $1.4M to settle discrimination complaint
The settlement results from a complaint that alleged Wells Fargo's properties in white neighborhoods were much better maintained and marketed than properties in minority areas.
ExactTarget option gains approach $300M
xactTarget Inc.’s sale will swell the value of employee stock options to nearly $300 million—a windfall local tech experts expect will launch a wave of entrepreneurship over the next several years.
Upstate bank headed for Fishers
A Warsaw-based bank will build in Fishers its second Indianapolis-area office.
Stocks swoon after weak economic reports
Companies like miners, banks and chemical makers, whose fortunes are most closely tied to the prospects for growth, fell the most. That's a sign investors are becoming less confident in the U.S. economy.
National mortgage settlement checks in the mail
Indiana Attorney General Greg Zoeller says checks totaling more than $26 million will be mailed to more than 18,000 Indiana consumers this month containing shares of the National Mortgage Settlement.
IEDC rolling out $1M diversity investment fund
Fund managers will seek to invest in companies owned by minorities, women and veterans that have sustainable competitive advantages, scalable business models and the potential for meaningful job creation.
Bank seeks to foreclose on architectural firm’s HQ
KeyBank has filed a lawsuit against A2SO4 Architecture and is asking a judge to appoint a receiver to manage the property at 540 N. College Ave. The bank says it is owed nearly $1 million.
Average household far from regaining wealth, study says
The average U.S. household has regained less than half the wealth it lost to the Great Recession, a report released Thursday by the Federal Reserve Bank of St. Louis concluded.
Old National to close 13 Indy bank branches
The move, part of a statewide effort to streamline operations and save money, will leave 27 Old National branches in the nine-county area.
Former bookkeeper pleads guilty to stealing $680K
Fifty-three-year-old Karen Armacost of Franklin admitted to forging hundreds of checks between 2007 and 2012 from the Greenwood Orthopaedics surgical group.
First Merchants accused of overdraft fee violations
A lawsuit seeking class-action status alleges that the Muncie-based bank manipulated the timing of customers’ transactions to cause their checking accounts to bounce more frequently, generating millions of dollars in overdraft fees.
FDIC sues executives over Irwin failure
The Federal Deposit Insurance Corp. has filed suit against four former officers of defunct Irwin Financial Corp. banks, alleging they “closed their eyes to known risks” in approving loans that contributed to the banks’ 2009 takeover by regulators.