Portrait Homes parent files for bankruptcy
Chicago-based Pasquinelli Homebuilding is seeking bankruptcy liquidation for all its business entities, including Portrait Homes Indiana, which built hundreds of homes in the Indianapolis area.
Banking & Finance
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Arcadia in danger of stock exchange delisting
The Indianapolis-based health care company’s stock, which trades on the NYSE Amex Equities exchange, has closed at an average price of less than 20 cents over a consecutive 30-day trading period, triggering the warning.
Bank seeks foreclosure on two strip centers
First Financial Bank in Ohio is asking a Marion Superior Court judge to appoint a receiver for Woodland Shops on the city’s northwest side and Lakewood Shops on the northeast side.
U.S. attorney sues GOP donor over unpaid trading penalty
The federal government is suing a former Indianapolis businessman and major Republican donor to collect a $600,000 federal penalty for commodities trading violations.
HAUKE: Media darlings aren’t always the best stocks
It is interesting that the sectors in the stock market that are doing the best today are fairly boring industries like basic materials and industrial stocks.
HICKS: Right-to-work laws make economic sense
There is abundant research on the economic effects of right-to-work laws by economists of both the right and left. The results are pretty clear that right-to-work legislation leads to increased employment.
Judge moves Durham fraud trial to next year
Federal Judge Jane Magnus-Stinson on Thursday morning vacated the original trial date of May 16 and instead set jury selection for June 8, 2012. Meanwhile, lawyers for Tim Durham argued for his release from a halfway house he was sent to on Wednesday.
Indianapolis tech experts talk about the local industry
In a question-and-answer forum, leaders weigh in on topics ranging from tech transfer to the future of Aprimo.
Durham set for afternoon federal court date
Former Indiana businessman Timothy Durham, 48, who is accused in a $200 million fraud scheme, is scheduled to appear in federal court in Indianapolis on Wednesday at 2:30 p.m.
Residential developer declares bankruptcy
John Swinehart, a former executive of Bruce Gunstra Builders Inc. who was involved in the Monon on Main project in Carmel, is seeking Chapter 7 bankruptcy protection. He lists liabilities of $8.3 million.
Local banks see small-business lending surging
Chase and Fifth Third of Indiana saw 57-percent and 56-percent spikes, respectively, in loans to state businesses last year. They forecast similar growth this year.
City sells North of South bonds, locks in 5.2-percent rate
The city of Indianapolis went to the bond market last month to sell $97 million in debt for the $155 million North of South hotel and retail project near the Eli Lilly and Co. campus.
Who’s Who in Banking and Finance – 2011
In this installment of IBJ's Who's Who series, meet key members of the city’s banking and finance sector. They include bankers, fund managers, venture capitalists, lawyers, financial planners and others who influence the movement and availability of money in the local economy.
SKARBECK: Fed’s monetary policies drag down bond returns
Inflation is a sinister sort of tax that confiscates wealth. Bonds will lose value in an inflationary environment as interest rates rise.
HICKS: General Assembly puts foolishness on display
We need the remaining month of this Legislature to look a lot less like the last month.
Suit accuses Bank of America of fraud, racketeering
The complaint, filed in Marion Superior Court, follows a similar suit that was dismissed in federal court. Bank of America and its Countrywide unit are accused of using perjured affidavits to foreclose on homes.
Battery charges dropped against Fair Finance co-owner
The Hamilton County Prosecutor's Office has dropped domestic battery charges against Fair Finance Co. co-owner Jim Cochran after the alleged victims declined to pursue the case.
Indy lawyer pays $371,000 to settle Fair Finance lawsuit
Fair Finance’s bankruptcy trustee says attorney Stephen Plopper and his wife are paying the full amount due under a loan that matured in 2006.
Lafayette Life leaving in June; 159 jobs affected
All 159 employees of the insurance company will either relocate to Cincinnati or lose their jobs, according to a spokeswoman for Lafayette Life’s parent company. Lafayette Life was founded in 1905.
Judge unseals some Fair Finance raid records
Still under wraps is the the FBI affidavit in support of the Fair Finance search warrant. Prosecutors contend releasing that "would greatly prejudice the criminal case."