Sale of local funeral home, cemetery business finalized
Pennsylvania-based StoneMor Partners could pay up to $32 million for Memory Gardens Management Co. after trust-fund and debt
obligations are made.
Banking & Finance
Articles
Schrenker auction expected to fall well short of claims
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.
Study of local mortgage defaults shows benefit of counseling
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.
Durham poised to turn over proceeds of mansion sale
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.
Katz Sapper caught up in Simon estate battle
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.
Home Loan Bank CEO dashes talk of impending merger
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.
HAUKE: Despite much bad news, market outlook OK for now
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.
HICKS: Four recommendations for your reading list
Though I am no slave to fashion, summertime is a long occasion for the reading of good books.
Shelbyville man sentenced for ripping off employer
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.
Indiana’s biggest private companies majored in the basics in 2009
Health care, plastics, other fundamental consumer needs kept some companies on upswings.
Auction to sell items from former money manager
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.
Deadline approaching for mortgage lenders to pass exam
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.
Whopping dividend puts obscure oil refiner in spotlight
The financial underpinnings for the current quarterly dividend—45.5 cents per share—seem less than sturdy.
SKARBECK: Municipal bond defaults might be next crisis
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.
HICKS: Derivatives don’t deserve their scary reputation
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.
For PNC, there’s much riding on smooth transition
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.
Miller brothers who shared in fortune fighting over $3 million
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.
EnerDel’s potential luring backers despite steep losses
The parent of locally based lithium-ion battery maker EnerDel is putting together hundreds of millions of dollars in financing
to fund a business plan that could bring revenue to nearly $1 billion within five years.
HAUKE: Bad news doesn’t yet apply to stock market
Here are the facts. Summer doesn’t turn into winter without going through fall. The same is true with the transition between
bull and bear markets.
HICKS: State both good, bad in human-capital game
Suppose we lived in a perfectly flat world that is a vast, featureless plain of identical square counties.