WOJTOWICZ: Character always counts—even in loan decisions
During these difficult times, small-business lenders are looking harder at intangibles—including a borrower’s character.
Banking & Finance
Articles
Former partner of Moe & Johnny’s owner alleges fraud
Real estate executive John Bales filed a lawsuit last month accusing Chuck Mack of “willfully and maliciously” misappropriating $200,000 that belonged to him.
Fear about world economy sends markets lower
Stocks opened sharply lower Thursday, extending a rout around the world. Indicators across the financial markets suggested investors were frightened that the global economy is in for a long slump.
Attorney General agrees to return Durham campaign funds
Indiana Attorney General Greg Zoeller has reached a settlement with the Fair Finance bankruptcy trustee to give back $11,000 in contributions he received from indicted financier Tim Durham.
Gayle Cook tops list of richest Hoosiers
The widow of Bill Cook joined Dean White, Herb Simon and Jim Irsay on the annual Forbes 400 list of wealthiest Americans.
Program lets Hoosier volunteers get mortgage help
Indiana has $221 million to give to unemployed people who are struggling to cover their mortgage payments. Recipients have to take part in job-training, go back to school, or agree to volunteer through HoosierCorps.
Court upholds former pastor’s fraud sentence
The Indiana Court of Appeals has upheld a 54-year sentence for a 67-year-old former pastor convicted of pocketing millions of dollars that investors believed would be used to build churches.
First Financial singled out as growing company in troubled industry
The bank that took over operations of failed Irwin Union Bank of Columbus two years ago recently announced the purchase of all 22 Flagstar Bank branches in Indiana.
Judge in Ponzi case deals blow to Hoosier developer
A federal bankruptcy judge in Florida has rejected a settlement that would have extricated former Indianapolis developer Sydney “Jack” Williams from tens of millions of dollars in claims for a mere $334,000.
Government pension performance stings cities
The pension fund that holds benefits for public employees has seen improved investment returns over the last two years, but the hammering it took during the depths of the recession continues to deal a blow to cities, counties and other employers.
Mortgage-default filings surge in Indiana, nation
Default notices sent to delinquent U.S. homeowners surged 33 percent in August from the previous month, a sign that lenders are speeding up the foreclosure process. Indiana saw an increase of 46 percent, a bigger rise than every state except California.
Dividend-paying investments becoming more attractive
Indianapolis-based Woodley Farra Manion Portfolio Management has rolled out an equity portfolio stacked with nothing but dividend-paying stocks that can provide a reliable source of income.
Dynasty trusts growing in popularity among super-rich
A tool allowing the super-wealthy to pass assets from one generation to the next without paying taxes is resurging among Hoosier investors.
Judge approves legal fees in Fair Finance case
The amount paid to lawyers so far nearly accounts for the entire $1.8 million that a Fair Finance trustee has recovered so far for investors of the Akron, Ohio-based company led by indicted financier Tim Durham.
U.S. student-loan default rates jump sharply
The national two-year default rate rose to 8.8 percent last year, from 7 percent in fiscal 2008, according to the Department of Education. Driving the increase was an especially sharp increase among students who borrow from the government to attend for-profit colleges.
EnerDel parent in danger of losing NASDAQ listing
The New York-based parent of EnerDel, which has almost 400 employees in the Indianapolis area, told investors Friday that it had received written notice of its failure to comply with NASDAQ's listing requirements.
Stocks plunge as worries about Europe intensify
Stocks plunged Friday, erasing the week's gains, amid rising fears about fallout from Europe's debt crisis. Seeking safer investments, investors sent the yield on the 10-year Treasury note to the lowest level in five decades.
New financing may give battered dry cleaner fresh start
US Dry Cleaning’s September 2008 purchase of Tuchman Cleaners was supposed to end years of financial strain for the 25-store Indianapolis chain, but it didn’t happen.
SKARBECK: Money-market funds have big risk, little reward
In this environment of near-zero short-term interest rates, money-market fund operators have to work very hard just to earn a few bucks on the substantial sums of money entrusted to them.
Stocks fall sharply as economic concerns deepen
Major stock indexes fell Tuesday as worries deepened about Europe's debt crisis and the weak U.S. economy.