Stonegate Mortgage closes 2014 with tough quarter
Stonegate Mortgage Corp. finished 2014 with a money-losing quarter that fell short of Wall Street expectations.
Banking & Finance
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Reeling developer dumps ‘worthless information’ on court
A judge ordered HDG Mansur chief Harrold Garrison to appear in court after creditors charged he is dodging their requests for information and filed a contempt motion.
Menard: Toss Hilberts’ attorneys for wrongdoing
Lawyers for Indianapolis power couple Steve and Tomisue Hilbert are slinging “ludicrous allegations” of witness tampering just to cover up their own wrongdoing, according to the latest broadside from the attorneys representing John Menard, the Hilberts’ former business partner.
Ball State foundation mulls changing investment policies
Ball State spokeswoman Joan Todd said any changes would be considered alongside the foundation's mission of "achieving maximum sustainable support" for the school.
Ex-county auditor accused of stealing funds sued by state
Indiana Attorney General Greg Zoeller has sued a former county auditor accused by officials of stealing nearly $350,000 in public funds to spend on personal items.
How Eli Lilly CEO Lechleiter pulled company out of long slide
After weathering a barrage of patent expirations, the pharmaceutical giant has restocked its pipeline and is positioned to grow.
Indiana finance chief jumps to private sector
Kendra York, who led Indiana through public-private partnerships to fund major road and bridge projects, has stepped down as the state's public finance director and joined engineering contractor American Structurepoint.
Longtime Chase exec Quintana to exit bank, launch new career
Maria Quintana, a Chase Bank Indiana executive widely credited with helping establish the bank here, is retiring at the end of the first quarter, the company announced.
Indiana to get slice of S&P’s $1.38B government settlement
Standard & Poor's has agreed to pay about $1.38 billion to settle government allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis.
Old National to close 5 Indy-area bank branches
The branches pegged to close locally are all in-store locations, several of which were assumed in 2009 when the Evansville-based bank bolstered its Indianapolis presence with its acquisition of Charter One.
As Bitcoin gains converts, entrepreneur debuts ATM
Indiana’s first Bitcoin ATM, which recently debuted at an Irvington e-cigarette emporium called World of Vapor, is either a glimpse of Indiana’s cyber-money future or an anachronism. Or perhaps both.
Probe, questions linger after Ball State loses $13M to fraud
The men who engineered the scams now are in federal prison. Meanwhile, Gale Prizevoits, who served as Ball State’s director of cash and investments from 2006 until her firing in 2011, stands disgraced but hasn’t been charged.
2015 Forty Under 40: Eric Payne
Eric Payne, 38, is managing director of wealth management at the Payne & Mencias Group at Merrill Lynch, which manages $1.7 billion for 200 families.
Struggling strip centers reorganizing under bankruptcy
The two centers are owned by Centre Properties and located on the east and west sides of Indianapolis. Meanwhile, in a separate case, a lender is seeking to foreclose on several industrial buildings.
Local software firm hopes to grow after VC infusion
Indianapolis-based Salesvue LLC, which produces productivity software products for sales departments, is looking to raise $5 million to grow its sales and marketing team.
Hoosier companies attract more venture capital, but total lags glory days
Early-stage and growth-stage companies in Indiana raised $47.3 million on 20 deals last year, more than double the $23.4 million invested in 2013.
As oil prices go haywire, refiner Calumet sticks to playbook
Whether Calumet Specialty's depressed stock price combined with its rich quarterly dividend create a buying opportunity is the subject of intense debate among investors these days.
Activist to Biglari board: Shape up corporate governance
Groveland Capital, which owns shares in Steak n Shake parent Biglari Holdings Inc., says it is offering to withdraw its slate of directors if Biglari’s board adopts the governance demands it has submitted.
Indiana companies smack in the middle of global spinoff spree
Just call 2014 the year of the corporate spinoff frenzy. And 2015 might be just as crazy.
Retailers rejected by Supreme Court on debit-card fees
The U.S. Supreme Court, without comment, left intact a Federal Reserve rule governing how much banks can collect for debit-card transactions.