Tim Durham, the Indianapolis businessman who purchased Akron, Ohio-based Fair Finance Co. eight years ago, is facing up to
the reality he owes the company a bundle and is shoveling over assets. Nevertheless, the FBI seized some Durham vehicles on
June 24.
A new federal law intended to enhance consumer protection and reduce fraud in the residential loan market may put the kibosh on seller financing of residential properties. This has huge implications for owners of rental housing.
McCready and Keene Inc. is the fifth-largest employee benefits firm in the Indianapolis area. It employs 95 people nationally, 82 of them in Indianapolis, according to IBJ research.
Pennsylvania-based StoneMor Partners could pay up to $32 million for Memory Gardens Management Co. after trust-fund and debt
obligations are made.
More than $30 million in claims have been filed against Marcus Schrenker, but a court-appointed receiver expects an auction
of the financier’s property on Saturday to bring in less than $1 million.
A study by the Federal Reserve Bank of Chicago finds a strong correlation between pre-mortgage credit counseling and loan
performance after
comparing Indianapolis Neighborhood Housing Partnership clients with other low-income Marion County borrowers.
Beleaguered financier Tim Durham acknowledges owing millions to Fair Finance and is turning over artwork and selling assets
to reduce the loan, according
to an attorney overseeing the company’s bankruptcy.
The longtime accounting firm for Simon family interests objected to subpoenas it received from Melvin Simon’s daughter
Deborah, saying the information
requested was far too broad.
The recent chatter followed the bank board’s decision to award CEO Milton J. Miller II a severance agreement entitling him to extra pay in the event of a merger.
Another fact emerged during May. People became way too bearish. Surveys and market action both suggested a growing fear that
became almost everyone’s opinion.
Though I am no slave to fashion, summertime is a long occasion for the reading of good books.
John K. Branam was sentenced to 57 months in prison after pleading guilty to embezzling $1.6 million over four years from
King’s Title & Abstract Co.in Shelbyville.
Health care, plastics, other fundamental consumer needs kept some companies on upswings.
The court-ordered auction includes a motorboat, jet ski and a $30,000 diamond ring, as well as a motorcycle that Marcus Schrenker
used to flee police.
Lenders must pass the test by July 1, or their licenses will be revoked. So far, just 58 percent of more than 1,000 in the
state
have passed.
The financial underpinnings for the current quarterly dividend—45.5 cents per share—seem less than sturdy.
for decades, politicians have regularly boosted public pension benefits to score election gains, while neglecting the long-term costs to municipal budgets. Now the bills are coming due.
One major part of the legislation will target derivatives. This is an arena where the financial services industry does itself
no good from a public relations sense.
Pittsburgh-based bank starts converting former National City operations in central Indiana to its brand this weekend. But
any snags could create
opportunities for competitors to pounce on customers.
J. Irwin Miller’s two sons have been battling for years over who should have paid expenses on the wealthy Columbus family’s
homes and businesses, but their fight isn’t about the money—especially after they inherited at least $20 million
apiece.
