CIB approves refinancing Conseco, dome bonds
The move is expected to save $8 million to $9 million over the life of the bonds.
Banking & Finance
Articles
Angie’s List hopes investors see beyond the losses
The company's IPO filing includes this sobering disclaimer: “We have incurred net losses since inception, and we expect to continue to incur net losses in the foreseeable future.”
Kite shares still grounded two years after plunge
Kite Realty Group Trust says leasing activity is up, debt maturities are under control, and new retail developments could boost operating income this year an impressive 17 percent. Yet shares in the locally based firm still fail to excite investors.
National Bank of Indianapolis exec retiring
Philip B. Roby, who helped start the city’s largest locally based bank, will retire at the end of the year.
LEADING QUESTIONS: Investment guru on calming clients
What does the CEO of City Securities Corp. say when shell-shocked investors want to sell? Does the recent market slide point to a return of 2008? Where are the opportunities? Michael Bosway has answers.
Mortgage firm plans local expansion, 140 jobs
Royal United Mortgage LLC, an Indianapolis-based mortgage firm, announced plans Tuesday to expand its local operations, adding up to 140 employees by 2013.
Receiver appointed in $16.8M foreclosure suit
Lender Merrill Lynch Mortgage Trust is foreclosing on several Indianapolis commercial properties, including two retail centers, owned by Greenwood developer Presnell Cos.
Angie’s List faces challenges in bid to go public
The company said in its initial public offering that it has lost money since its inception. But it still could be attractive to prospective investors, said a local lawyer who helps companies go public.
Zionsville man charged with wire fraud, money laundering
Brian Eads faces a maximum of 30 years in prison by engaging in transactions of more than $10,000 with criminally derived proceeds from properties bought at sheriff’s sales.
GM site ripe for manufacturing or a judicial center
The Urban Land Institute panel’s plan for the General Motors plant site ignores some realities in favor of presenting a relatively predictable New Urbanism redevelopment plan.
State makes $31M settlement with securities firm
Raymond James has agreed to return $31.2 million to Indiana investors by repurchasing some auction rate securities. The firm also will pay fines totaling $63,000.
Greenwood developer target of foreclosure suit
Two Indianapolis-area retail centers are listed in a $16.8 million lawsuit that includes a total of six properties owned by the Presnell Companies of Greenwood.
Judge nearly sends Durham back to halfway house
Magistrate Judge Kennard Foster said Durham should not continue living at his sister’s house or move back to his mansion because both are in foreclosure.
Economy still tough, but a few Hoosier industries on upswing
Two years into the economic recovery, bright spots in the Indiana job market are still hard to find. The insurance industry is one of the few glimmers of light on Indiana’s horizon. Others include engine makers, nursing homes and temp agencies.
Probe: Investment adviser Hauke masked huge loss
Fishers investment manager Keenan Hauke suffered massive losses in his hedge fund seven years ago. Then, rather than fess up, he generated fake account statements for clients that showed money they didn’t really have and returns they hadn’t earned, state investigators allege.
Racinos ask federal court to lower their tax liability
If Indiana Live and Hoosier Park prevail, the racetrack-casinos may cut they could cut their combined tax bill by $30 million a year.
Veteran banker Alley found Integra too sick to save
With reluctance, Mike Alley, a veteran Indianapolis banker, joined the board of Evansville-based Integra Bank in April 2009. A month later, he found himself CEO—the beginning of a 26-month odyssey that ended July 29 with banking regulators seizing and shutting down the 160-year-old institution.
UPDATE: Stocks plunge again on more economic fears
The U.S. and European economies are "dangerously close to recession," Morgan Stanley economists wrote in a report.
First Financial buying Flagstar’s 22 Indiana branches
First Financial said the $23 million purchase gives it a rare opportunity to expand its presence in the Indianapolis metro area at a time there are few acquisition targets available.
Durham asks to move back into his mansion
Indicted financier Tim Durham has asked a federal judge to allow him to move from his sister’s home in Geist back to his 20,000-square-foot mansion. Durham has been living with his sister on home detention since his April arrest.