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.
Banking & Finance
Articles
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.
Carmel’s Dormir raises $12M from venture capital firms
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 says profit in line with estimates
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.
Grain Dealers Mutual merges with Florida firm
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 hike Irwin Union’s capital requirements
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.
Old National profit falls, but beats expectations
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.
White River Capital calls off First Chicago deal
Indianapolis-based White River Capital Inc. has quietly called off its merger with Itasca, Ill.-based
First Chicago Bancorp.
SKARBECK: Growth of private trading should have us all worried
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.
Banks no longer in critical condition, but full recovery still distant
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.
Banks building new branches despite online age
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?
WOJTOWICZ: Stimulus is expanding small-biz lending
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.
INVESTING: Looming debt problems present an opportunity
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.