Florida payroll provider moving to Indianapolis, adding 59 jobs
Beyond Payroll LLC, which said it will add the jobs by 2106, is leasing 2,000 square feet of space in the downtown Stutz Building.
Banking & Finance
Articles
Church caught up in nightmare after life insurance scheme sours
The Lindberg Road Church of Christ in Anderson has filed for bankruptcy protection because of a failed plan to finance construction on its properties. The plan involved buying life insurance on elderly members, with the intent to sell the policies later on the secondary market.
Report tallies local government debt loads
A new reporting requirement on local governments gives taxpayers unprecedented access to debt information, but the data is also likely to raise many questions.
Charter airline proposed by local entrepreneur on investment firm’s radar
Legacy Travel Club finds believer after months of fruitless fundraising locally.
Rapid rise of ExactTarget uplifting for young techies
In just over a decade, the interactive marketer has rocketed from bootstrapped startup to New York Stock Exchange-listed company with a market value of $1.5 billion.
U.S. sues Bank of America for $1B-plus in mortgage fraud
The top federal prosecutor in Manhattan sued Bank of America for more than $1 billion on Wednesday for mortgage fraud against Fannie Mae and Freddie Mac during the years around the financial crisis.
Stocks hammered by weak earnings reports
Stocks sank sharply Tuesday morning, driving major indexes to their lowest point since early September, after big-name companies reported weak quarterly earnings and lowered their expectations for the rest of the year.
Scale Computing lands $12 million in VC funding
Scale Computing, a maker of data-storage devices that recently launched a “datacenter in a box,” has landed another $12 million in venture funding.
State going after underwriter of $5M Estridge offering
The regulatory action is an outgrowth of a falling-out between Indiana Securities owner Frank Neese and Bank of Indiana, which lost its entire $1 million investment when The Estridge Cos. collapsed.
Legal fees nearing $9M in Fair Finance bankruptcy
The trustee in the Fair Finance bankruptcy case and his law firm have run up legal bills approaching $9 million, nearly double the recoveries they've achieved to date for investors victimized by convicted fraudster Tim Durham.
Lender forecloses on Uptown Business Center
A lender has filed to foreclose on the Uptown Business Center, a neighborhood retail building at the southwest corner of 49th Street and College Avenue that a local developer had hoped to use as a springboard to revitalize the intersection.
Financial services company closing Indiana call center
Ohio-based Vantiv Inc., which had more than 200 employees in Evansville just over a year ago, says it's going to reduce its work force to about 25 and close its call center in southwest Indiana.
Banks’ market rankings stable despite deposit shifts
BMO Harris and PNC lost some deposits, but the biggest local banks by market share remained the same.
Small law firm sees faith in WellPoint class-action suit pay off
A federal judge in June granted preliminary approval to a deal under which WellPoint Inc. would pay $90 million to settle a lawsuit charging it undercompensated policyholders when it converted into a public company in 2001.
Many banks still digging out from Great Recession trauma
The following statistics reflect performance of the 10 banks with the largest market shares in the Indianapolis Metropolitan Statistical Area.
HIATT: Political campaign puts private equity in the spotlight
In the current political campaign, private equity, the industry in which I have spent much of my career, finds itself in the spotlight. But in my conversations with other intelligent people, I often find they are curious about what private equity funds do.
Retailers await decision on $7.2B ‘swipe-fee’ settlement
In what could be the largest antitrust settlement in U.S. history, the agreement would resolve dozens of lawsuits filed by retailers against Visa Inc., MasterCard Inc. and the banks that issue their credit cards.
Banks eager to loan, but small firms hold back
Indiana banks can tout more success in small-business lending since the recession ended, but the success is hard-won because the masses of entrepreneurs remain cautious about borrowing.
M&I-BMO Harris changeover leaves some customers in lurch
BMO Harris Bank’s expansion in Indianapolis and other markets via its acquisition of M&I Bank is off to a rocky start as many customers still are unable to access their online banking accounts.
Creditor could take ownership of downtown Comfort Suites
The owner of the hotel, an affiliate of Dora Brothers Hospitality Corp. in Fishers, filed for Chapter 11 bankruptcy in February. German American Capital Corp., which is owed $12 million, could own the property by the end of the year.