Indiana’s public pension restructures investments
The new asset mix, approved by the Indiana Public Retirement System’s board late last month, includes a lower concentration of public equities.
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Obscure not-for-profit covering shortfalls in Carmel
The Carmel City Center Community Development Corp. has emerged as a key player in the city’s burgeoning downtown. The not-for-profit 4CDC last month gave the performing arts center $1 million to cover its operating expenses, and it’s expected to provide another $4.5 million through June 30.
Default notices, home seizures climb in Indiana, nation
Indiana outpaced the rest of the nation last month in the number of default notices sent to delinquent homeowners and the amount of homes seized as U.S. foreclosure filings rose to a seven-month high.
Bankruptcies decline in Indiana, nation
Indiana saw fewer bankruptcies for the fiscal year ending Sept. 30 than it did the year before, with the state improving its national ranking based on case filings.
Farm-profit volatility boosting risk for lenders, economist says
U.S. farmers face increased financial risk because of higher operating costs and volatile commodity prices, even as income this year reaches a record, said Michael Boehlje, an economist at Purdue University.
Farmland values may extend record, banker chief says
Record-high U.S. farmland values may keep rising as global demand for agricultural products increases, according to S. Joe DeHaven, the chief executive of the Indiana Bankers Association.
West-side Godby building in foreclosure
A building at 4701 Rockville Road, owned by local businessman Thomas Godby, is the target of a $2 million foreclosure suit filed by Old National Bank. The building’s tenants include Tony Stewart Racing Enterprises and Sara Fisher Racing LLC.
State mulls ditching traditional pensions
Lawmakers are mulling converting the state’s pension system into a 401(k)-like model, bringing Indiana into the heated national debate over public pensions.
Centier Bank opens Indianapolis-area loan production office
The Merrillville-based bank is testing the waters before launching a retail-banking presence.
Indianapolis’ tech sector getting some Silicon Valley cred
TechPoint’s 13th annual technology summit might be more notable not for who is on the formal agenda but for who is in the audience.
First Internet Bancorp reports lower quarterly profit
The company earned $765,000 for the period ended Sept. 30, compared with $1 million in the year-ago period. First Internet attributed the decline to the timing of gains from closed but not-yet-sold mortgages to the secondary market.
Angie’s List losses continue to climb
In a Monday SEC filing, the company said it lost $43.2 million through the first nine months of 2011, pushing total losses since 2006 to $160.6 million. Angie’s List filed in August to go public.
Ugly end to historic October on Wall Street
Stocks had their best month in almost a decade, rising from their low point of the year in an almost uninterrupted four-week rally. But the finish sure was ugly.
Old National’s profit grows 41 percent
The Evansville-based financial services holding company reported third-quarter profit of $16.8 million. Earnings would have been even better without expenses related to its purchase of Integra Bank.
Not following directions could bite local hospital
Indianapolis-based Westview Hospital might be on the hook for $160,000 because its advisers used a fax machine to tell Lehman Brothers it was canceling a financial agreement.
Stocks surge on European debt deal, GDP growth
The Dow Jones industrial average surged nearly 340 points Thursday after European leaders agreed on a deal to slash Greece's debt load and prevent the crisis there from engulfing larger countries like Italy.
NASDAQ set to remove EnerDel parent from exchange
New York-based Ener1 said in a filing Tuesday with the Securities and Exchange Commission that it would be suspended from the NASDAQ exchange starting Thursday due to non-compliance with filing requirements.
CNO Financial’s quarterly earnings, revenue rise
Carmel-based life and health insurer CNO Financial Group Inc. said Tuesday that its third-quarter earnings jumped nearly four times over last year's third-quarter results, but mostly because of a one-time tax-related gain.
Strategist: Uncertainty still holding back U.S. economy
In order to get the U.S. economy to grow at a respectable 3-percent annual rate, the government needs to get a grip on the debt crisis while corporations needs to start spending the money they've stockpiled.
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.