Pacer Foster earns reputation as Buffett of basketball
Indiana Pacer Jeff Foster has played in the NBA for 12 years and earned more than $47 million, and he’s done something extraordinary: He’s saved about three-quarters of his take-home pay.
Banking & Finance
Articles
PNC Financial’s quarterly earnings tumble
PNC Financial Services Group Inc., which has about 1,200 employees and 88 branches in the Indianapolis area, made less money from loans, deposits, fees and charges in the third quarter.
Filing shows Durham’s personal finances in shambles
Even if everyone who owed Durham money paid him—which seems unlikely—his assets still would be a fraction of his debts.
Lawmakers seek probe into banks’ new debit card fees
A widespread move among major banks to charge customers a fee for using their debit cards has stirred Democratic lawmakers to seek a Justice Department investigation on possible collusion.
Cracker Barrel battling to keep Biglari at bay
Cracker Barrel Old Country Store Inc. has rejected Biglari’s request that directors appoint him and business partner Phil Cooley to the board. It also has rolled out a “poison pill” plan that would deter outside investors from taking over the business without negotiating with the board first.
More Hoosier investment advisers will be regulated by state
The federal Dodd-Frank act shifts firms from Securities and Exchange Commission oversight.
Bank directors feeling greater scrutiny
Tough economy, regulations dampen interest in the positions.
More banks processing transactions by date
Fifth Third among them, after being hit with class action over whether to pay customers’ biggest bills first.
Stocks jump on European pledge to help banks
The Dow Jones industrial average jumped 330 points, or nearly 3 percent, to close at 11,433. Indianapolis-based Hurco Cos. led local stocks, gaining 10 percent to close at $23.98.
Occupy Wall Street inspires Indianapolis protest
More than 1,000 people gathered on Veterans Memorial Plaza downtown Saturday to take part in Occupy Indianapolis, inspired by the three-week-old Occupy Wall Street protest in New York.
Bank to report loss on sour Indianapolis loans
Columbus-based Indiana Community Bancorp, parent of Indiana Bank & Trust, said it will write off $13.3 million for the third quarter, primarily due to nine commercial customers in the Indianapolis area with total loan balances of $32.7 million.
Simon Property Group gets new $4B credit facility
Indianapolis-based shopping mall giant Simon Property Group Inc. has received a new $4 billion unsecured revolving credit facility.
Waiting for construction industry to recover
The recession officially ended more than two years ago. But the number of local construction jobs is still down 27 percent from 2007 levels. Will the industry ever feel relief? Some segments might not recover in a big way until 2013.
Anderson racino emerges from bankruptcy
The parent company of Anderson racetrack and casino Hoosier Park has officially emerged from bankruptcy. The original shareholders of Centaur Inc., about 80 individual Indiana investors, lost their entire investment in the company.
Jeweler plans massive sale in bid to escape bankruptcy
Hofmeister Personal Jewelers Inc., which sought Chapter 11 reorganization in April, is asking the court to let it bring in a national consultant to oversee a huge sale that would begin next month and last until February.
Page Development CFO files for personal bankruptcy
Paul M. Pittman, one of four principals in a troubled Indianapolis-based condo developer, filed personal bankruptcy this week.
T2 Systems receives $28 million infusion
The Indianapolis-based company that makes software to manage fee collections and enforcement for parking violations said it will use the funds to expand.
Burn treatment inspires Fifth Third’s $5M Wishard gift
Fifth Third Bank executive Kevin Hipskind's experience as a patient in the burn unit of Wishard Hospital played a role in a $5 million gift the Cincinnati-based bank is making for Wishard’s new Eskenazi Hospital, under construction at IUPUI.
Suit says Irwin Union Bank execs missed snowballing risk
The bankruptcy trustee's suit against the top three officers of the bank's parent seeks more than $500 million.
Homebuilder Estridge files for bankruptcy
Paul Estridge Jr. owes a list of creditors including banks, suppliers and vendors more than $50 million, but has assets of less than $5 million, he said.