Penrod treasurer charged with taking about $400K
The former volunteer treasurer of an arts group that stages one of Indianapolis’ best-known art fairs has been charged with
embezzling about $400,000.
Banking & Finance
Articles
Developer Broadbent sues banks after they tighten credit line
Locally based Broadbent Co., one of the city’s biggest retail developers, has sued two of its banks, charging they’re
wrongly attempting to restrict its access to a $50 million credit line.
HICKS: Chinese tariff is misstep toward trade war
Just a short year ago, economists of all stripes voiced fears of a rise in economic protectionism like that which contributed
mightily to the Great Depression.
SKARBECK: Hedge fund superstars take it on the chin
Lauded as “masters of the universe,” the star investment managers overseeing the largest hedge funds built
huge expectations they couldn’t fulfill.
MANN: Commercial real estate is next mortgage crisis
The cresting wave of maturing commercial real estate debt is the second act in our nation’s credit crisis.
Will Miller’s burden at Irwin Financial
Will Miller, the fifth generation to run Irwin Financial Corp., is in danger of being the scion at the helm as the family
business hits the wall.
Irwin Financial admits outlook dire
Shares of Irwin Financial Corp. plummeted this morning after the banking company disclosed that regulators have ordered it
to bolster its capital by the end of the month to levels “it has no realistic prospect of achieving.”
Schrenker held on $4 million bond after not-guilty plea
Jailed former money manager Marcus Schrenker has been appointed a public defender after telling an Indiana magistrate he has
no home and that the government has frozen all his assets.
Schrenker in Indiana to face fraud charges
An money manager who tried to fake his own death in a Florida plane crash will make a video appearance in court to face Indiana
felony charges stemming from his financial dealings.
Ex-Lauth executive: ‘Every day is a struggle’ after a year of unemployment
Michael Hartman earned a six-figure salary as a vice president at Lauth Group Inc. until he was laid off in early 2008.
Since then, he’s struggled to find a job—any job that would allow his family to stay in their Westfield home.
HICKS: Post-recession policies matter more than theory
There’s a wonderful fight brewing between some of the world’s best-known economists.
HAUKE: Market the moodiest of economic indicators
Hello, operator? Yes, we seem to have a disconnect. Everyone still has their foul-weather gear on, but the stock market
is calling for blue skies. Can you try the line again, please?
Judge refuses to reduce bond in church fraud trials
An Indiana judge today declined to reduce the $1.5 million cash bonds for a former pastor and his sons charged with bilking
church members nationwide out of millions of dollars.
Indiana Fiscal Policy Institute seeks comeback
The Indiana Fiscal Policy Institute’s board has hired Indianapolis Star business columnist John Ketzenberger to engineer a resuscitation.
Oak Street Funding raises $50 million in new capital
German group invests in Carmel-based company that specializes in financial services for insurance agencies.
SKARBECK: Iceland offers case study of economy out of control
Nowhere else on the stage of global economics was financial boom and bust more surreally scripted than in the small isolated
country of Iceland.
Rash of bank failures sure to spread to Indiana
Not a single Indiana bank has failed since the sector tanked last year. But Bob Jones, CEO of Old National Bancorp in Evansville,
figures it’s only a matter of time.
Developer Lauth’s bankrupt units win round in court
Lauth Group Inc. in recent weeks has won critical courtroom victories that likely will allow company principals
to retain control of three subsidiaries in Chapter 11 bankruptcy.
Indiana converting to centralized accounting system
Indiana state government will fully convert to a uniform financial accounting system by Sept. 16.
Former business owner Hockett sentenced for bank fraud
A federal judge this morning sentenced a former Indianapolis business owner to 18 months in prison after he pleaded guilty
to bank fraud in May.