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.
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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.
Former Hoosier pleads guilty in Florida Ponzi case
Former Indianapolis developer Sydney “Jack” Williams admitted to failing to report $6.4 million in income from 2004 through 2007 that he earned from Miami Beach, Fla.-based Capitol Investments, run by CEO Nevin Shapiro.
Investor Buffett gets behind east-side revitalization project
Warren Buffett joined other investors and Indianapolis community leaders Wednesday morning for a ribbon-cutting ceremony at the $27 million East Village at Avondale apartment project.
Indianapolis tech firm BidPal receives $5.6M infusion
The investment from Allos Ventures in Carmel and MK Capital in Northbrook, Ill., will help the company expand into more cities. BidPal uses wireless handheld devices to automate charitable auction bidding.
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.
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.