Leader of fraud scheme sentenced to 4-plus years
Michael Russell, 54, pleaded guilty in January to 20 counts of wire fraud and money laundering in a scheme involving former Indianapolis City-County Councilor Paul Bateman.
Investing
Articles
First Merchants’ deal to make it state’s second-biggest bank
The acquisition of CFS Bancorp Inc. will increase First Merchants' assets to $5.4 billion and leave it with nearly 100 offices.
Merchants, Citizens Bank to merge
Shareholders in Carmel-based Merchants will receive stock that was valued at $98.3 million before the announcement of the deal caused a huge spike.
Stocks soar to all-time high on employment news
A stronger-than-expected pickup in hiring last month lifted the stock market early Friday, pushing the Dow Jones industrial average above 15,000 and the Standard and Poor's 500 index above 1,600 points for the first time.
Venture capital favoring later-stage firms
Getting $50,000—often from friends and relatives—to develop a product and set up a company still is easy enough in Indiana, small-business leaders and venture capitalists say. But once a firm needs a few million dollars to grow into a revenue-generating operation, the area can’t compete with Silicon Valley’s magnetism for venture capital.
Fair Finance investors still empty-handed as trustee plows on
Many of the defendants pursued by Brian Bash and his team have few, if any, assets. And those that do have the wherewithal to fight litigation for years.
Stock market rebounds from worst day of the year
Good news on housing and earnings Tuesday morning helped stocks recover from a dismal Monday, when stocks suffered their biggest one-day decline since November.
Falling commodities give Dow worst day of the year
The Dow Jones industrial average tumbled 265.86 points Monday to close at 14,599.20, a decline of 1.8 percent.
Indiana pension shifts to international bonds
The Indiana Public Retirement System recently issued a request for proposals from international fixed-income managers and received 16 responses by the April 5 deadline. The $27.1 billion retirement system will hire two managers to oversee $900 million.
HHGregg throws lifeline to employees with underwater options
The company this month filed papers gave option holders the right to exchange their current holdings for new options with an exercise price set at the current market price.
Lilly pulls back from proposals lowering takeover barriers
Fortunately, a Lilly takeover looks less likely today than it has in a long time—for both obvious and more subtle reasons.
First Internet Bancorp jumps into dividend game
The parent of First Internet Bank late last month declared a dividend of 6 cents per common share payable April 15 to shareholders of record April 1.
Carmel financial adviser accused of using faith to prey on victims
A central Indiana man banned from selling investments faces 10 securities fraud counts for allegedly using shared Christian beliefs to dupe clients out of more than $580,000.
S&P 500 closes with record high, beating 2007 mark
For the second time in less than a month, the stock market marched past another milepost on its long, turbulent journey back from the Great Recession.
Bonuses drive up compensation for Lilly’s top brass
Eli Lilly and Co. granted larger bonuses to its top five executives early this year, which boosted their 2012 compensation anywhere from 3 percent to 8 percent.
Steak n Shake’s value menu isn’t all that looks cheap
Investors may be undervaluing Biglari Holdings Inc., which owns Steak n Shake outright and holds 20 percent of Cracker Barrel.
Fortune can’t explain ‘significant and unusual’ stock swing
Fortune Industries Inc. shares on Monday jumped as much as 285 percent from Friday’s closing price. The New York Stock Exchange found the move and an intense spike in trading volume so odd that it asked the company for answers.
Judge says bank can pursue suit against broker
A federal judge granted Peoples Bank a victory Thursday by ruling that it can sue Stifel Nicolaus & Co. on its claims that the broker violated the Indiana Securities Act and committed fraud.
Indiana mutual fund ranked No. 1 by Lipper
Kirr Marbach & Co., one of the state's few home-grown mutual funds, has been honored by Lipper Inc. for having the best multi-cap core fund out of 647 funds over a three-year period.
Indiana officials warn investors about British firm
The secretary of state's office is cautioning investors about a company that promises low risks and high returns but isn't registered to sell securities in Indiana.