Southeast Financial Credit Union has filed suit against a longtime Indiana customer that has been accused by two states attorneys general of bilking students out of thousands of dollars each for online college preparation study modules. The Indianapolis Star reports that Southeast Financial's complaint against The College Network and related individuals and companies claims the entities are insolvent and that its owners trying to squirrel away any remaining viable assets.
Earlier this year, Southeast Financial — which has lent out about $35 million to College Network customers — was named in a deceptive business practices suit filed by New York's attorney general. Click here for the credit union's complaint against TCN, which was filed last Friday and asks for $12 million and for TCN to placed under the control of a court-appointed receiver.
Southeast Federal, which has had a business relationship with TCN since 2003, said that when the credit union signed a contract extension with TCN last year, it was not made aware that the company was "insolvent, financially weakened by years of dwindling and slow sales and poor business performance."
Health insurance advisor Bernard Health is adding to its Indianapolis presence, taking downtown space that had been occupied by tax preparer H&R Block. Bernard already runs a retail store on Indy's north side. In all, the company will operate seven stores in four states once its latest outpost opens its doors.
Yesterday's announcement that Kite Realty Group has paid $37.5 million for Franklin-based big box strip center Cool Springs Market (read more here) might seem like nothing more than a standard commercial real estate story. But it followed the Monday announcement that XYQ Artist Management has opened a Nashville office within the West End Corridor. And so ... ? Both Kite and XYQ parent XYQ Inc. are based in Indianapolis. And so ... ? Within the past 15 months or so, we've also seen Buckingham Cos. prepare to break ground by year's end on a major mixed-use project in Midtown and White Lodging begin developing a Hyatt Place in SoBro. Yes, both are Indianapolis based. (Actually, White Lodging is located in Merrillville, but that's not much more than 120 miles from Indy.) We have no idea if this is some type "record" for Indy-area-based companies doing work in Nashville within such a brief time period. But it is interesting nonetheless.
The Megabus route from Nashville to Chicago (via Indianapolis) and from Chicago to Nashville attracted about 75,000 passengers during its first six months of operations.
Dale Moser, president and chief operations officer of megabus.com parent company Coach USA, said company officials are “delighted with the passenger response.”
The Nashville/Chicago route started March 14 and represents one of four Megabus routes servicing Nashville (each no more than one year in operation). The others are Nashville/Memphis, Nashville/Knoxville and Nashville/Chattanooga/Atlanta.
Moser said the company is pleased with the four but noted the Atlanta route could use some growth. He declined to note what number Megabus officials had as a goal for the Nashville/Indianapolis/Chicago route at the six-month mark.
“We look at it on a quarterly basis,” he said. “As long as we continue to see progress each quarter, we are pleased.”
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