HICKS: Without real cuts, cost of borrowing will rise
What is abundantly clear is that federal spending is much higher than is currently sustainable.
Banking & Finance
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CNO says CEO Prieur to retire, to be replaced by CFO
Jim Prieur will retire as CEO of CNO Financial Group Inc. on Sept. 30 and will replaced by the company’s chief financial officer, Ed Bonach, the company announced Wednesday.
Lender’s suit says homebuilder owes $12.8M on loans
M&I Bank filed the suit against J. Greg Allen, charging he defaulted on two loans he took out to buy 73 acres of land on the northeast corner of Emerson Avenue and County Line Road on Indianapolis’ south side.
SKARBECK: Getting out of a hole requires digging by all
We live in a fantasy world if everyone thinks we need to cut back on spending unless it affects them.
HICKS: Founding document holds lessons for today
The Declaration of Independence has some key tenets that bear mentioning in these times.
Forum Credit Union trying to rebound from recent losses
Fishers-based Forum Credit Union was on the upswing from a sizable loss in 2008 when a slew of challenges hit late last year. Now Forum is rebuilding its earnings—and looking for a new leader to steer the company.
WOJTOWICZ: Missed tax payments could affect business loans
Property tax billing and collection were at their most confusing during the recession, when businesses were experiencing lost revenue, poor projections and, in general, toughing it out as best they could.
Observers: Inexperience with mainline carriers hurting Republic
Two years after regional carrier Republic Airways Holdings made a gutsy move into the branded airline business by buying Frontier Airlines and Midwest Airlines, its stock price is down nearly 60 percent.
SKARBECK: Businessws with ‘moats’ more likely to succeed
In economic terms, consider a business that has a “sustainable competitive advantage” that serves as a moat against the competition. A business that can stave off the competition is likely to produce attractive profits.
HICKS: Jobless compensation and the incentive to work
In essence, the body of research tells us that longish periods of unemployment compensation tend to cause longish periods of unemployment.
Smulyan says Emmis ready ‘to go back on offensive’
Emmis' sale of two stations in Chicago and one in New York City will allow the company to chop more than $100 million off its $331 million in long-term debt—clearing the way for it to arrange a refinancing under favorable terms.
16 Park project helping to transform Indianapolis neighborhood
The first building of a new complex on near-north side is set to be completed in August
Chambers quietly built Buckingham into real estate colossus
The North of South mixed-use project in downtown Indianapolis is just the latest development for Brad Chambers, who started out in the landscaping business.
Receiver to manage assets of Fishers money manager
A receiver will take control of assets held by Samex Capital CEO Keenan R. Hauke, a prominent Fishers money manager accused by state officials of violating securities laws.
Sources: Angie’s List picks adviser to handle planned August IPO
Angie’s List Inc., a website that provides consumer reviews of plumbers, electricians and other services, is preparing to file in August for an initial public offering, said two people with direct knowledge of the plans.
Stonegate Mortgage to relocate growing firm to Indianapolis
Stonegate Mortgage Corp. will move its growing operation to Indianapolis in the next few months after a deal to expand in Fishers fell through.
SKARBECK: Latest investment tool to tame risk is no panacea
The idea behind tail-risk hedging is to provide protection to a portfolio against a disastrous event that would wreak havoc on the markets—a so-called “black swan” event made famous by Nassim Taleb’s book “The Black Swan: The Impact of the Highly Improbable.”
Former Fifth Third exec killed in Puerto Rico
Maurice Spagnoletti, a former president and CEO of Cincinnati-based Fifth Third Bancorp’s central Indiana operations, was gunned down on Wednesday. He had been an executive of Doral Bank in Puerto Rico for about six months.
Lender purchases Renaissance Bay in sheriff’s sale
Fort Wayne-based Star Financial Bank, which is trying to recover some of the more than $23 million it loaned for the condominium project, submitted the only bid for it on Wednesday. The bank said several potential buyers are interested in the property.
Accountants lose court battle with former firm
A Marion County judge ruled against three former partners in a local accounting firm who were trying to collect the full amount of their stock ownership after they left the company to start a rival firm.