HHGregg’s top shareholder may be poised to sell chain
Freeman Spogli & Co. has been invested in the Indianapolis retailer for a decade, which is bordering on an eternity by private equity standards.
Banking & Finance
Articles
Bill would weaken protections for homeowners in foreclosure
Banks support proposed state legislation that could prevent Hoosier homeowners from using a settlement process to avoid foreclosure. But the sponsor of a bill with the controversial provision says he will strike it.
Hyde Park raising $60 million for latest venture fund
The Chicago-based firm, which opened an office in Indianapolis last year, will likely use some of the money to continue investing in Indiana tech startups.
Old National to acquire Anchor BanCorp Wisconsin
Evansville-based Old National Bank said it will purchase Anchor, the third largest bank in Wisconsin, in a stock-and-cash deal valued at $461 million.
Stock woes continue as China turmoil sparks global selloff
The Standard & Poor’s 500 index slid 2.4 percent on Thursday, to close at 1,943.09, falling to its lowest point since Oct. 1 in the worst start to a year in data going back to 1928.
Anthem workers file lawsuit over 401(k) fees in retirement plan
Anthem’s retirement plan is accused in a lawsuit of forcing about 60,000 workers and retirees to pay excessive fees by having to invest in Vanguard Group funds billed as low-cost options.
Global stocks on pace for historically bad day
Major U.S. stock indexes sank more than 2.5 percent in morning trading Monday following a financial rout that stretched across Asia into Europe.
Stocks have worst annual performance since 2008
The Standard & Poor’s 500 index and the Dow Jones industrial average both declined Thursday, the last trading day of 2015, putting both in the red for the year.
After legal delay, First Merchants set to close Ameriana buyout
The Muncie-based bank, which agreed to purchase New Castle-based Ameriana in June, had faced two shareholder lawsuits opposing the deal. Those lawsuits have been dropped.
Guyer settled $400,000 in Durham debts for just $35,000
Dr. Dale Guyer—who was thrust into the spotlight this week after a news report suggested his Indianapolis clinic provided HGH to Peyton Manning—borrowed heavily from convicted Ponzi schemer Tim Durham, starting in 2003.
Trust fund manager that serves disabled entangled in lawsuits
The latest court action involving Special Needs Integrity Inc. is a class-action lawsuit filed against the little-known Indianapolis not-for-profit in November that claims it eroded clients’ account balances with undisclosed management fees and unjustified legal fees paid to the Indianapolis law firm Lewis & Kappes PC.
Michigan’s minimum wage rising to $8.50 an hour
Michigan workers making the minimum wage will see a 35-cents-an-hour raise starting Friday. Indiana’s minimum wage will remain $7.25 per hour.
Credit union plans to acquire former Meridian Music property
Indiana Members Credit Union is hoping to open a branch in the 18,000-square-foot, two-story brick building on Old Meridian Street in Carmel.
Defying Fed hike, mortgage rate remains below 4 percent
One week after the Federal Reserve raised short-term interest rates from record lows, the average on a 30-year fixed-rate mortgage went the other way.
Lender discrimination might be bankrupting black churches
Of the 654 congregations to file for bankruptcy protection between 2006 and 2013, 60 percent had black pastors or predominantly black membership, according to an associate professor at the Indiana University Maurer School of Law.
FINRA disciplines investment broker, administrator
Financial industry regulators have barred a Fishers investment broker for life for refusing to cooperate with an investigation, and suspended a local compliance officer for 14 months.
Acquisition bug bites two Indy accounting firms
Two Indianapolis-area accounting firms are fusing with Cincinnati-based firms in the coming weeks, deals that participants said are just a sampling of the sizzling merger-and-acquisition activity across the industry.
Student debt may be the next crisis facing older Americans
Twenty-seven percent of education loans held by people age 65-74 were in default in 2013, meaning they hadn’t made a payment in 270 days or more. More than half of education loans held by people 75 and older were in default.
Buck settlements cost Merrill Lynch $4.1M
Former Merrill Lynch broker Thomas J. Buck used to generate millions of dollars in annual revenue for the brokerage giant. But lately, he’s been costing it millions. Merrill Lynch has paid more than $4.1 million in settlements related to Buck’s alleged misconduct since firing him in March.
Will City Securities be next regional broker to sell?
The parent of City Securities Corp. finds itself at a crossroads with the May death of its 95-year-old vice chairman, Danny Danielson, and with his brother-in-law, Chairman John Peterson, approaching 83 years old.