Carmel-based Dormir Inc., which operates sleep study centers and sleep equipment stores around the country, raised $12 million
in venture capital from three out-of-state firms. The company plans use the proceeds to acquire six to 10 companies this year
and more next year, according to CEO Tim Miller.
Conseco Inc. said it would meet analysts’ expectations for the second quarter by posting earnings of at least 22 cents
per share, before investment losses. The Carmel-based health insurer announced the preliminary financial results today after
the market closed.
Indianapolis-based Grain Dealers Mutual Insurance Co., one of the largest property-casualty insurers in the state, will
become part of The Main Street America Group, the Jacksonville, Fla.-based company said this morning.
Regulators have told Irwin Union Bank FSB that it must boost its capital by the end of next month or face the possible
suspension of its business.
Second-quarter profit for Old National Bancorp fell 50 percent from the same period a year ago, but the company still managed
to exceed analysts’ expectations.
Indianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based
First Chicago Bancorp.
It is ironic that in the aftermath of the credit crunch, with investors calling for more market transparency from Wall Street,
opaque trading markets are thriving.
The banking sector is on the mend after being tattered by the financial crisis, but it still has a long way to go before
making a full recovery. That’s the consensus, judging from recent stock performances of the largest publicly
traded banks with a presence in Indianapolis.
Bank transaction counts—the number of people going into banks to make a deposit, cash a check or
conduct some other form of business—have declined in recent years with the increased popularity
of direct deposit, online banking and easy ATM accessibility. So why add branches?
The economic stimulus package allocated $375 million to the U.S. Small
Business Administration so it could offer more generous terms to small-business borrowers.
Whenever this bear market bottoms—and there is a growing possibility that we will see new lows in coming months—millions of investors will be throwing all kinds of assets away for pennies on the dollar. The discounts so far could pale in comparison. So, be patient, be prudent and be ready.
A developing case of technology theft has shed light on the proprietary systems Goldman Sachs and other investment firms
use to make millions of dollars. A 39-year-old former employee at Goldman has been accused of stealing computer
code used in the company’s high-frequency trading system.
A Noblesville man was sentenced to one year of home detention yesterday after pleading guilty to mortgage fraud in federal
court. Marvin G. Hampton also was ordered to pay $262,424.76 in restitution to three lending institutions.
Cincinnati-based Fifth Third Bank yesterday named Nancy Huber president and CEO of its central Indiana operations in Indianapolis.
In the not-too-distant past, Microsoft was the most dominant company on the planet. In 25 years, it had spawned the world’s
richest man along with products that became as ubiquitous as water.
The worst is likely behind us, but difficult times lie ahead, especially for the unemployed.
We are not in peak vacation time yet and already volume is disappearing faster than a hermit crab being chased by a group
of 10-year-old boys. This s especially troubling if you are a bull.
Eli Lilly and Co. isn’t the only company to set aside a day for volunteering. The Big 4 accounting firm Deloitte had its 10th
annual IMPACT Day June 5.
Indiana Members Credit Union, the metro area’s second-largest credit union, has acquired Marsh Employees Federal Credit Union.
Jean Wojtowicz, executive director of the Indiana Statewide Certified Development Corp., has been elected to chair the National
Association of Development Companies, or NADCO, board of directors.
