Indiana pensions hit as economic doldrums continue
Indiana pension funds took a temporary hit last year and may not rebound as much as public workers would like, based on long-term economic trends outlined for lawmakers Tuesday.
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Angie’s List shares plunge to record low after lockup ends
Shares in Indianapolis-based Angie’s List Inc., the consumer-review website company, plunged to a record low after a ban was lifted on stock sales by some of the company’s biggest investors.
Indiana pension system is country’s most conservative
The Indiana Public Retirement System has cut its assumed rate of return from 7 percent to 6.75 percent, becoming the first large pension system in the country to go below 7 percent.
KIM: Beware conflicts of interest when seeking financial help
There is no such thing as unbiased advice, and conflicts of interest are not automatically bad. However, it’s up to you to take steps to protect yourself from becoming “skinned” in this jungle.
State pensions’ strategy shift causes manager fees to rise
The $25.3 billion Indiana Public Retirement System is in the midst of hiring managers to carry out a strategy where more money will be in hedge funds, private equity and real estate than stocks.
Web startup aims to connect private businesses, investors
Private firms that need to raise relatively modest amounts of capital have a hard time finding money. Now three Indianapolis entrepreneurs think they have the answer: crowdfunding. Individuals make small investments that are aggregated to fund a business. Indianapolis-based Localstake wants to be the matchmaker.
Judge rejects Fair Finance attorneys’ fee request
The compensation plan submitted by Cleveland-based Baker & Hostetler LLP could have netted the law firm $32.5 million if it recovered the entire $200 million or more owed to investors of Fair Finance, which was owned by convicted Indianapolis financier Tim Durham.
WellPoint shares sink after profit misses analyst estimates
WellPoint Inc. stock fell more than 12 percent Wednesday after the insurer’s quarterly earnings missed analyst estimates and it trimmed its full-year forecast.
Lilly’s quarterly profit falls, but tops analyst expectations
Eli Lilly and Co. reported second-quarter profit that fell less than analysts had expected. The company raised its outlook for the rest of the year.
Simon boosts dividend, outlook after strong second quarter
The Indianapolis-based mall giant is benefitting from robust demand for space from retailers in the United States. It's also ratcheting up growth by investing overseas.
Venture funding falls 12 percent in second quarter
Funding for U.S. startups fell 12 percent in the second quarter as venture capitalists poured less money into fewer deals than a year earlier. But the number of companies getting funded in the earliest stages of development reached the highest level in more than a decade.
Regional investing conference heavy on Indiana banks
Event organizers say Wall Street isn’t the only place to drum up interest in stocks.
Hauke receiver files suit against his former accounting firm
The lawsuit accuses convicted money manager Keenan Hauke’s former accounting firm of negligence for failing to monitor Hauke’s bank accounts, enabling him to use investor funds for his personal use. Hauke was sentenced in March to 10 years in prison.
Indiana to hold securities brokers more accountable
Secretary of State Connie Lawson said the new provisions will help her office provide better protection to investors.
Heat wave wilting corn supplies, boosting prices
Corn supplies in the United States, the world’s biggest exporter, are declining at the fastest pace since 1996 just as a Midwest heat wave damages the world’s largest harvest for a third consecutive year.
State, former Colts invest in Fishers software provider
The state of Indiana and former Colts are among the lead investors in Fishers-based software provider CloudOne, the company announced this week.
Durham, 1 partner to be jailed until sentencing
A federal judge has ordered an Indiana financier and a business partner jailed until they are sentenced for swindling investors out of $200 million.
Judge orders Durham, Cochran jailed until sentencing
Convicted Ponzi schemers Tim Durham and James Cochran will be held in a federal prison until sentencing, while accomplice Rick Snow will be confined under home detention, under an order issued Monday afternoon by U.S. District Judge Jane E. Magnus-Stinson.
Durham, Fair Finance partners face detention hearing
A federal judge will hear evidence on whether Tim Durham, Jim Cochran and Rick Snow should be kept in jail until they are sentenced.
Outlook improves for Fair Finance investors
A New York firm is contacting Fair Finance Co. investors seeking to purchase their bankruptcy claims—a sign of growing optimism that investors in the defunct business will secure a sizable recovery.