Biglari consolidates power, as Steak n Shake rebounds
The Texas investor running the chain doesn’t seem like such a champion of transparency these days.
Banking & Finance
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Schrenker faces nine more charges in Indiana
An Indiana money manager scheduled to be sentenced today in Florida on charges he deliberately crashed his plane to fake his
death and flee financial ruin now faces more charges in his home state.
PricewaterhouseCoopers adds BearingPoint consultants
The Indianapolis office of New York-based PricewaterhouseCoopers is adding 20 consultants following the accounting firm’s
purchase of a portion of McLean, Va.-based BearingPoint Inc.
HAUKE: Storybook market may last a bit longer
People keep asking me
to explain the stock market advance over the past five months. There are usually comments at the end of the question, like,
“The economy sucks. How can the market go up when there is nothing going on out there?”
Loan defaults could cost David Marsh his Geist home
David A. Marsh, the former supermarket executive and current president of the Crystal Flash convenience store chain, could
lose his 11,800-square-foot mansion on Geist Reservoir over three defaulted loans.
First Farmers acquiring CB Bank Shares
Converse-based First Farmers Financial Corp. said this morning it has agreed to acquire CB Bank Shares Inc. in Russiaville.
CARUSO: Real estate buyers, sellers, must recalibrate expectations
Mergers and acquisitions have all but ground to a halt because of lack of credit, disparate expectations between buyers and
sellers, and hesitance on the part of buyers to deploy their capital.
SCOLNIK: Indianapolis in dire need of more investment banks
A scarcity of investment bankers is hurting business growth in the Indianapolis area. Investment bankers play a crucial role
in helping businesses find growth financing.
Ron Henriksen has accumulated a lifetime of mergers and acquisitions
A light touch and an eye for detail have brought Ron Henriksen riches and adventure in a humble life of deal-making. And at
age 70, he has no plans to stop.
Credit unions to pay hefty tab for bailouts
Local credit unions largely avoided putting toxic assets on their own balance sheets. Even so, they’re going to have
to pay millions of dollars to clean up their industry’s books.
Lilly reorganizes venture capital unit
Eli Lilly and Co. has reorganized its venture capital division and simultaneously poured in an additional $25 million.
Large HHGregg investor ups stake, surprising analysts
HHGregg Inc. shares have enjoyed a spectacular runup this year. But the company’s biggest shareholder is making a
huge bet that the good times are only beginning.
SKARBECK: Tax-haven crackdown starts getting serious
If you never got around to opening that Swiss bank account, you might want to wait a bit longer—at least until after
Sept. 23. That is the date the IRS has set for any tax-evading American to come forward regarding 52,000 accounts held at
Swiss banking giant UBS under a Voluntary Disclosure program.
First Merchants posts larger loss on fraud charge
Muncie-based First Merchants Corp. disclosed this week that the bank lost $31.2 million in the
second quarter, including $10.2 million it blamed on fraudulent financial statements provided by a large commercial borrower.
Emerging life sciences companies grabbing more in government grants
More emerging life science companies have found life in the form of federal
Small Business Innovation Research grants.
Irwin Financial narrows losses, continues restructuring
Irwin Financial Corp. narrowed its losses in the second quarter, as the company continued to restructure or face the possible
suspension of its business.
White River Capital’s profit drops 33 percent
White River Capital Inc. today reported its profit in the second quarter fell 33 percent compared
to the same period last year, due primarily to expenses associated with its canceled merger.
Toll-road lease tumbles in value
Gov. Mitch Daniels expected his unprecedented $3.8 billion Indiana Toll Road lease to last 75 years. It may be tested after
just three.
Is Indiana coming out of venture capital swoon?
Carmel-based Dormir LLC’s announcement July 29 of $12 million in venture financing was the second local life sciences
deal announced in July. It could suggest a turnaround from a woeful second-quarter performance, when Indiana life
sciences firms announced zero venture capital deals.
HAUKE: Investing lessons a turtle would love
I have learned a lot about sea turtles since last
night, and I believe a few of these things belong in any long-term discussion about investing.