Ohio securities regulators say Tim Durham’s Fair Finance Co. won’t be permitted to sell additional investment certificates
unless it satisfactorily answers a series of questions about the company’s ability to pay them back.
The FBI on Tuesday executed search warrants at two companies led by high-profile executive Tim Durham—Indianapolis-based
Obsidian Enterprises Inc. and Akron, Ohio-based Fair Finance Co.
The banking crisis isn’t the only reason to rethink the ubiquitous “We care” theme.
The second and third quarters were brutal for Indiana banks, as they set aside big reserves to cover losses on commercial
real estate loans.
The market often stays wrong much longer than the early investors stay solvent.
The wireless phone wholesaler had survived two prior recessions and recognized the spoils in tough times go to companies with
the strongest balance sheets.
Faced with the potential for another bout with stagflation, investment managers are scrambling to decide how to face a future when markets may again be thrown into turmoil by the two-headed monster of frisky price increases and crummy economic conditions.
In the 1970s, stagflation—the unprecedented combination of stagnant economic growth and inflation—threatened to ruin financial institutions. Now some fear it might make a return.
Local loans issued through the Small Business Administration’s popular 7(a) guarantee program plunged by an astonishing 64
percent for three of the city’s four largest banks during 2009, while overall lending in the program slipped 17 percent in
the metro area.
Buyers armed with cash stand to snap up distressed properties for 40 percent less than their 2008 appraised values.
Pittsburgh-based PNC Financial Services Group Inc. has converted 240 former National City Bank branches to their new identity,
but the 77 Indianapolis-area locations will keep the old brand for a bit longer.
Secretary of State Todd Rokita has relied on fines and fees to greatly increase his office’s firepower without a tax hike.
Making investment decisions based on where a stock price has been in the past or betting on where it may go in the future is futile and foolish unless the investor has determined the value of the stock.
For banks, the last two years have been among the most tumultuous in history. Financial institution CEOs across the country
responded by trimming their raises in 2009. But in Indiana, bank chiefs didn’t follow form.
Indiana foreclosure filings were down only 1.5 percent in October from the previous month, but have fallen a whopping 18.5 percent from October 2008.
A federal judge has ordered an Indianapolis man to serve 37 months in prison and pay $1.7 million in restitution for his role in a massive mortgage fraud scheme.
Major stock indexes rose as much as 2 percent, including the Dow Jones industrial average, which jumped 203 points.
Indiana taxpayers filed a record 2.2 million electronic federal tax returns this year.
Last week’s front-page story “Shuffling the deck” pointed out the significant gains midsize banks have
made in the Indianapolis market over the last year. The one glaring exception was Columbus, Ohio-based Huntington National
Bank, which had lost $56.3 million in local deposits as of June 30, according to the FDIC. A closer look explains
why.
The Flaherty & Collins project—dubbed 210 Trade—would have been the tallest residential building in the Carolinas, with more floors
than any building in the region except the Charlotte headquarters of Bank of America Corp.
