Regulatory overload is community banks’ next big hurdle
Banks across Indiana are preparing for a deluge of new regulations that will cut into their bottom lines, make their businesses more complex and, in some cases, force them to consolidate.
Banking & Finance
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Irsay, Simon tie on magazine’s world’s-richest list
In a feat not possible for their teams, Indiana Pacers owner Herb Simon and Indianapolis Colts owner Jim Irsay tied for 879th place on Forbes magazine’s annual list of the richest people in the world. Bill Cook and Dean White also made the list.
SOOFI: Islamic finance edging into ever-larger deals
Asset-laden institutions sidestepped financial crisis.
Banks OK with ‘clean energy financing districts’
Industry feared original bill would have put mortgage lenders at added risk.
Northeast-side office building target of foreclosure
Owners of the nearly 40,000-square-foot office complex near East 71st Street and Binford Boulevard have defaulted on a $3 million bank note, according to court documents.
HICKS: Telecom reform in Indiana worked
Deregulation of monopolies tends to almost always make consumers better off. Indiana’s broad and effective telecommunications reform of 2006 is a classic example of this.
Hoosier executive joins effort to take Playboy private
Scott N. Flanders, who took over as CEO of Chicago-based Playboy Enterprises Inc. in July 2009, will pick up a 3-percent ownership stake if 84-year-old Playboy founder Hugh Hefner closes on a pending deal to take the company private.
IEDC unveils statewide entrepreneurship initiative
Elevate Ventures could attract an additional $30 million in matching federal and private funding to support entrepreneurs statewide, Indiana Economic Development Corp. officials say.
Northwest-side apartment complex faces foreclosure
Fannie Mae filed a lawsuit in Marion Superior Court Tuesday, seeking foreclosure and the appointment of a receiver at Arrowwoods Apartments over an unpaid note of $4.56 million.
Key House Republican praises Obama housing plan
The Obama administration's plan to gradually dissolve ailing housing giants Fannie Mae and Freddie Mac and to shrink the government's role in the mortgage market drew praise from House Republicans on Tuesday.
Bankruptcy filings ease slightly in Indiana
Total bankruptcy filings in the Southern District of Indiana, which encompasses Indianapolis and the surrounding counties, ticked down last year. Business bankruptcies in Indiana dropped 3.2 percent.
First Internet Bancorp reports record annual profit
The parent of First Internet Bank earned $4.9 million in 2010 compared with a loss of $2.1 million the previous year.
E-mails suggest Fair Finance was on life support for years
Emails filed as exhibits in the Chapter 7 bankruptcy case of Fair Finance Co. this month strongly suggest company insiders knew years before Fair collapsed that it was in dire straits.
Ties to Durham haven’t hurt McKain
For the past decade, Indianapolis-based professional speaker Scott McKain has used his experience at Obsidian Enterprise Inc. as the centerpiece of his marketing pitch, but Obsidian is not the success his bio advertises it to be.
HAUKE: Unrest around the world has roots in one thing
Just about every country in the world, with the exception of Australia, is strapped for cash.
HICKS: Uncertainty always leads to oil-price fluctuations
Being a commodity, changes to oil prices are frequent and instantaneous. Changes to supply or demand of petroleum in the Middle East affect the price at the pump in the Midwest within hours.
Experts: Economy too weak to fuel venture-capital investment
Activity won’t gain much steam until more entrepreneurs become optimistic, and optimism won’t materialize until the economy gets warmer, said John Barnard, managing director of Pearl Street Venture Funds.
UPDATE: CNO shares soar after quarterly profit rises
The Carmel-based life and health insurer, in an after-markets announcement, said it earned $168.2 million in the final three months of last year, a big jump from the $18.2 million profit it posted in the same quarter the prior year.
Fair bankruptcy trustee hears from prospective Lampoon suitors
Fair Finance Co.’s bankruptcy trustee is getting inquiries from parties interested in buying National Lampoon Inc., the Los Angeles-based comedy business led by embattled Indianapolis businessman Tim Durham.
Court OKs reorganization plan for Hoosier Park owner
Hoosier Park Racing & Casino owner Centaur LLC last week won court approval of its plan to cut debt by about $636 million and exit bankruptcy.