Struggling Ener1 receives $4.5M from investor
The parent of Indianapolis-based advanced-battery maker EnerDel received the financing to continue operating while the company evaluates its options to reorganize debt.
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Emmis strikes $16M deal to buy back preferred stock
The transaction with New York-based Alden Global Capital, the largest holder of Emmis preferred stock, is expected to end more than a year of legal wrangling involving the two companies.
Brizzi agrees to pay Fair Finance nearly $200K
The Fair Finance trustee alleged that, in addition to being huge campaign contributors to former Marion County Prosecutor Carl Brizzi, Tim Durham and his companies helped cover Brizzi’s personal expenses.
Local software upstart sold after less than year in business
Indianapolis-based MyJibe LLC, an up-and-coming budgeting and personal finance software firm that was launched by two 20-something entrepreneurs last January, has already been acquired.
Local business bank parent reports third-quarter profit
Indiana Business Bancorp attributed its profit of 9 cents per share to higher non-interest income a lower loan-loss provision expense.
Venture firm set to score on Angie’s List, Groupon IPOs
Battery Ventures’ investments in Angie’s List Inc. and Groupon Inc. have produced more than $440 million in paper profit after the Internet-commerce companies sold shares to the public this month.
Shelbyville’s SCB Bank scrambles for capital
A Shelbyville-based bank appears to have missed a federally mandated deadline for boosting its capital levels, a failure that might put it at risk of government takeover.
Bank hits Centre Properties with $43M suit
Three local strip centers owned by longtime Indianapolis developer Centre Properties are the target of a $43 million foreclosure lawsuit brought by the real estate firm’s lender.
Stonegate Mortgage plans to add 45 workers in ’11
The Indianapolis-based firm has pledged to add a total of 300 workers by 2015.
Suburban-hotel mayhem whipsaws entrepreneur
Two of Sanjay Patel’s hotels landed in bankruptcy in November. Four others filed for Chapter 11 protection last year.
Angie’s List stock surges after shares hit market
Angie’s List Inc. shares rose as much as 44 percent in their trading debut Thursday after the company raised $114 million Wednesday in its initial public offering. The stock closed the trading day up more than 25 percent, at $16.26 per share, after rising as high as $18.75 early in the morning.
Angie’s List IPO raises $114 million
Angie’s List Inc., the Indianapolis-based consumer-review service with more than 1 million paying members, raised about $114 million in its initial public offering Wednesday after pricing the shares at the top end of the proposed range.
Angie’s List, Delphi to attempt IPOs in busiest week this year
U.S. initial public offerings are set to raise the most in six months in November as Delphi Automotive Plc and Angie’s List Inc. take advantage of the biggest rebound in the Standard & Poor’s 500 Index in 20 years.
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.
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.