States offering more college-savings vehicles
Indiana among those rolling out new, less-risky 529 plans to attract savers wary of losing money in the stock market.
Banking & Finance
Articles
Moe & Johnny’s owner files for bankruptcy reorganization
Owner Chuck Mack says popular tavern and restaurant Moe & Johnny’s, open in Broad Ripple since 1996, is in no danger of closing despite the Chapter 11 filing.
SKARBECK: Benchmarks helpful, but have their problems
Benchmarking has exploded with the industry’s propensity to slice and dice and categorize every segment of the overall investment pie.
HICKS: Educators must acknowledge need for reform
Fixing schools won’t be easy, but it begins with an honest realization of the problem—not mendacious malarkey.
Irwin Financial trustee poised to sue insiders
Court papers reveal officers and directors of the holding company for the failed Columbus-based bank will soon be defendants in a $40 million suit.
Bank of America seeks to dismiss racketeering suit
Homeowners Dwayne Ransom Davis and Melisa Davis sued last month in Indianapolis, claiming Bank of America “routinely” submitted perjured affidavits to support foreclosures. They lost their Knightstown home last year.
Angie’s List attracts $2.5M infusion
The investment is from a San Francisco-based firm and follows a $22.5 million investment the company received in October from multiple investors.
Teachers Credit Union chooses new leader
Senior vice president Paul A. Marsh will take over for Richard J. Rice, who has been president of the credit union since 1987.
Citigroup subsidiary agrees to $717,000 Indiana fine
The penalty stems from charges that Citigroup Global Markets failed to monitor a former agent accused of working with Robert Nelms, who was sentenced in May for securities fraud involving a $24 million cemetery trust fund operated by Indianapolis-based Memory Gardens Management Corp.
Indiana firm pays W. Virginia $175,000 in consumer case
West Virginia Attorney General Darrell McGraw said Monday that the money will be used to compensate customers of Indianapolis-based Preferred Financial Solutions Inc., doing business as CCR Now or Credit Card Relief Now.
Indianapolis Super Bowl project gets $1M boost
The grant from JPMorgan Chase Foundation clears the way for construction of the Chase Near Eastside Legacy Center.
Finish Line cash hoard could draw out suitors
Citigroup Capital Markets retail analyst Kate McShane has Finish Line near the top of her list of potential leveraged-buyout candidates.
HAUKE: Stock market, as usual, gets it right again
I’ve noticed a growing number of experts who are confused and confounded by the rising stock market. They refuse to believe what their eyes are telling them…
HICKS: Fed ‘easing’ into another stimulus plan
Federal legislation dating from the Truman administration compels the Fed to try to achieve the lowest possible levels of unemployment and inflation. Unfortunately, minimizing both is not possible.
Indiana Live owners miss interest payment
The owners of Indiana Live racetrack and casino failed to make an interest payment due Nov. 1 on $375 million in debt, providing additional fodder for credit analysts already worried about its financial condition.
Old National profit rises
The Evansville-based bank reported a third-quarter profit of $11.9 million, up from $4 million in the year-ago period.
Lender Oak Street acquired by New York firm
Carmel-based insurance lender Oak Street Funding LLC announced Thursday that it has been purchased by private equity funds managed by New York-based Angelo Gordon & Co.
Indiana life sciences sector copes with shrinking VC pool
Venture funds nationwide crested at $100 billion in 2000, but that number last year had drooped to $18 billion.
Downtown apartment developers take divergent paths to financing
J.C. Hart Co. spent more than a year securing a $5 million bank loan to expand an existing project; Buckingham Cos. turned to the city to finance its ambitious project just north of the Eli Lilly and Co. campus.
SKARBECK: Changes on horizon for mutual fund fees
The U.S. Securities and Exchange Commission is proposing significant changes to the structure of the annual marketing or distribution fee on mutual funds known as a 12(b)-1 fee.