Judge OKs plan to distribute Schrenker’s assets
A judge on Friday approved a plan under which investors who lost millions in Marcus Schrenker’s financial schemes will get back seven cents on the dollar.
Banking & Finance
Articles
Indianapolis airport credit rating maintains altitude
Moody’s said the airport has a diversified mix of carriers and cargo operations, little competition from other airports, and a stable market area.
Foreclosed-property care sparks fight over who’s responsible
Lawmakers might address in the upcoming legislative session the controversy over who is responsible for upkeep on foreclosed properties.
HAUKE: History tells us that bull will stay here a while
American stock market history goes back far enough to give us a lot of data and reference points we can use to help us understand the future.
HICKS: The high costs of an over-lawyered society
Estimates of the private-sector costs of civil litigation top out at about 2 percent of our gross domestic product, so for every $50 spent in the United States, $1 goes to support legal costs and settlements.
Menard lawsuit entangles businessmen Hilbert, Dick
Former Conseco executives Steve Hilbert and Rollin Dick are caught in a bitter legal battle between billionaire hardware king John Menard and his ex-fiancee.
Indianapolis banker sees progress, challenges at ailing Integra
Mike Alley, perhaps more than any other banker in the state, is experiencing the pain the economic crisis has wrought on the nation’s financial institutions.
Credit counselor to merge with Ohio-based network
Momentive Consumer Credit Counseling Service Inc. has agreed to be absorbed by Ohio-based Apprisen Financial Advocates, as financial pressures in the industry push not-for-profit agencies to become larger.
Feds sue developer Premier over raid on retirement accounts
Executives of defunct Indianapolis developer Premier Properties USA Inc. are negotiating to settle a lawsuit brought by the U.S. Department of Labor that claims the company raided employee retirement accounts in a last-ditch bid to save itself in early 2008.
Cost of ’12 Days of Christmas’ items soars 10.8 percent
Trying to buy the items repeated in the song’s verses would cost $96,824—10.8 percent more than last year due to rising gold prices and higher pay for nine dancing ladies.
Celebrity lawyer Roy Black tapped in Durham criminal probe
Tim Durham says he’s ruined financially, but he’s not cutting corners lining up legal firepower to defend himself. Durham has hired famed criminal defense attorney Roy Black of Miami, lawyers representing the Indianapolis financier in civil litigation confirmed.
SKARBECK: GM’s return to market not your usual IPO
This unusual taxpayer-owned IPO did create some interesting conflicts.
HICKS: Thanksgiving, Black Friday and Cyber Monday
The holiday season in the United States has morphed into a time of concentrated purchases.
Foreclosure washes away water park plans in Fishers
Developer Puller Group has agreed to relinquish a high-profile property approved for a massive water park and retail project to lender Fifth Third Bank following a months-long legal battle over an $8.6 million loan.
Scale Computing scores $17M in venture capital
The latest round of funding brings the total raised by the local data-storage upstart to $31 million and follows a $9 million investment it received in March.
USDA investigating cattle brokerage for bad checks
Indiana-based Eastern Livestock Co. may owe more than 700 ranchers across the Midwest, South and West a total of $130 million.
Federal Home Loan Bank suing major players
The Federal Home Loan Bank of Indianapolis has filed suit against some of the nation’s largest financial institutions, including Bank of America, Wells Fargo and J.P. Morgan Chase, to recover losses on a $3 billion portfolio of mortgage-backed securities.
HAUKE: Fed pulling out all stops to keep inflation down
U.S. Federal Reserve Chairman Ben Bernanke wants the entire world to believe that the United States is in a deflationary economic cycle and, therefore, the drastic, insane steps he is taking are justified.
HICKS: Discounting the future when making public policy
As you will learn in any good high school economics class, everyone values the future less than the present.
Home Loan Bank sues over losses on $3B mortgage portfolio
The Federal Home Loan Bank of Indianapolis is suing some of the nation’s largest financial institutions to recover losses on a $3 billion portfolio of mortgage-backed securities.