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A big change is coming to Evansville as Vectren continues to upgrade the cities power supply.
Vectren has always been known for being significantly coal-fired, but not for long.
The live smart company now has two solar farms and once they are finished they will have enough energy to power 300 homes annually.
It will also take Vectren to a 60 percent carbon deduction.
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Former ITT Educational Services Inc. CEO Kevin Modany has agreed to pay $200,000 and accept a five-year ban from serving as an executive of a public company to settle a Securities and Exchange Commission lawsuit accusing management of hiding the rapidly eroding financial condition of the now-defunct firm from investors.
Former ITT Chief Financial Officer Daniel Fitzpatrick agreed to pay $100,000 and accept the same ban under a separate settlement. Under the deals, neither man admitted wrongdoing.
The settlements came just before a trial that was scheduled to begin Monday morning and was expected to last two weeks.
The amounts the men agreed to pay are modest in the context of the ferociousness of legal battle that has been playing out between the two sides since the SEC filed its suit three years ago. Both sides rang up legal costs that no doubt far exceeded the amounts of the settlements.
For example, in a recent squabble over whether six expert witnesses should be permitted to testify, attorneys for the SEC and executives submitted 2,000 pages of filings and exhibits.
In a statement, Stephanie Avakian, co-director of the SEC’s Division of Enforcement, said: “Holding individuals accountable—particularly senior executives—is a critical focus of our enforcement program. These settlements, entered into on the eve of trial after years of litigation, reflect our commitment to this accountability.â€
Attorneys for Modany, 51, and Fitzpatrick, 58, told Reuters that their clients were pleased to put the case behind them.
The SEC’s 56-page suit charged the pair with concealing from investors the “extraordinary failure†of two off-balance-sheet student loan programs ITT helped set up in 2009 after the financial crisis shut down the market for traditional private education loans.
The complaint alleged that, as loan defaults mushroomed at the for-profit education company, the pair “routinely misled†the company’s auditor, PricewaterhouseCoopers, on numerous fronts—including by not sharing internal projections that showed even bigger problems brewing—an omission that “helped to further the defendants’ fraudulent scheme.â€
But attorneys for Modany and Fitzpatrick scoffed at the allegations, calling them “overreaching†and often “based on pure speculation.†“The SEC’s pleading approach followed the commonly known tactic of throwing as much mud as possible against the wall in the hope that some sticks,†a filing said.
In particular, the pair says they relied on an army of advisers for guidance on how to handle a range of sensitive issues, such as whether it was permissible for the company to make minimum payments on students’ loans to prevent them from sliding into default.
The SEC alleged in its suit that minimum payments ITT made had the effect of masking the company’s deteriorating financial condition since it put off the need for the company to disclose that loans had gone bad and weren’t going to be repaid.
In a court filing, Modany and Fitzpatrick counter that both in-house and outside legal counsel reviewed ITT’s loan disclosures and earnings-call statements, without citing problems. Further, the men contend they were forthcoming with PricewaterhouseCoopers.
“Each quarter, PwC made ‘hundreds’ of requests for information from ITT, and in turn, ITT provided the requested information to PwC,†the filing says.
ITT dismissed its 8,000 employees and shut down its 130 ITT Technical Institutes in 38 states in September 2016—driven under by federal sanctions, including a prohibition against providing financial aid to new students. The government said it tightened the screws because it had “significant concerns about ITT’s administrative capacity, organizational integrity, financial viability and ability to serve students.â€
In short, ITT was under unprecedented scrutiny over whether its expensive diplomas (a two-year associate’s degree ran about $45,000) were leaving students awash in debt while failing to properly prepare them for gainful employment.
Modany and Fitzpatrick appeared to have put the case to rest last year when they struck a settlement with SEC staff. But when the deal went before the SEC’s three commissioners, they turned it down, apparently concluding it was too lenient.
Because the deal wasn’t approved, terms weren’t disclosed. Since that rejection, the makeup of the commission has changed. It now has five members.
Modany still faces significant legal challenges. Last month, ITT’s bankruptcy trustee filed a $250 million lawsuit against Modany and eight of its former directors, charging that breaches of fiduciary duty and lapses in oversight led to the company’s demise.
The suit focuses on events from April 2016 to September of that year, when the company shut down. Fitzpatrick, who is not a defendant in that case, left ITT in July 2015.
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Olivia Covington for www.theindianalawyer.com
In today’s world, the standard for conviction of sexual misconduct allegations has become guilty, and “who cares if you’re innocent.â€
That’s according to Indiana Attorney General Curtis Hill, who publicly spoke out for the first time Monday after last week’s allegations that he groped a lawmaker and behaved inappropriately toward multiple legislative staffers. As he had in statements, he again resisted calls from leaders in his own party to resign.
Democratic Rep. Mara Candelaria Reardon identified herself as the alleged groping victim in a Friday op-ed, while Gabrielle McLemore, communications director for the Senate minority caucus, has alleged Hill rubbed her back without her permission.
Hill, a Republican, has consistently denied those and other allegations since an internal memorandum detailing a legislative investigation into the allegations was leaked to the media and published on July 2. The memo, prepared at the request of legislative leaders by Taft Stettinius & Hollister LLP, includes statements from four other legislative staffers who either witnessed Hill’s alleged misconduct or alleged he behaved inappropriately toward them.
Those calling for Hill’s resignation include Gov. Eric Holcomb, House Speaker Brian Bosma and Senate Majority Leader David Long, all Republicans. Hill Monday morning explained to reporters why he has no plans to step down.
“I respect and value the Constitution, our sacred document that serves as the very foundation upon which this great nation was established,†Hill said. “… Justice gains its integrity through the protection of individual rights, such that every single person will be afforded due process of law. And that means fairness.â€
“And yet, somehow, that protection, that standard of fairness, that benefit of the doubt, that presumption of innocence until proven guilty has escaped my grasp,†Hill continued. “I never dreamed this could happen to me.â€
According to the memo, Hill’s alleged misconduct occurred during the early morning hours of March 15, when lawmakers and staffers gathered at AJ’s Lounge on the southside of Indianapolis for an end-of-session party. Reardon’s op-ed said she saw Hill entering the party alone, but the Attorney General said Monday that he attended the party at the invitation of another guest, Tony Samuel.
The memo then goes on to say that Hill, who was “very intoxicated,†slid his hands down Reardon’s back and under her clothes before grabbing her bare buttocks on two occasions, once after being told to “back off.†But according to Reardon’s Friday statement, she was able to recoil before Hill was able to grope her a second time.
Based on that discrepancy, Hill said Monday the groping allegations in the memo were “materially inaccurate,†making the calls for his resignation unwarranted. He also said those who have urged him to resign, the governor included, should rescind their statements.
“I am now being called upon to resign by the governor and others,†Hill said. “I respect the governor, and I believe him to be an honorable man, and I wish he had reached out to me regarding these accusations before rushing to judgment.â€
“Perhaps this regrettable rush to judgment is best explained by self-preservation instincts,†Hill said later, speaking generally about those who have called on him to resign.
Hill said Monday he first learned of the then-anonymous accusations — which were initially reported to Bosma in May — minutes before boarding a flight on June 29. The memo says legislative leaders held a conference call with Hill on that day, then followed up with an in-person meeting on July 2. The Attorney General has also said he was never contacted by an investigator while the allegations were under review, and the memo makes no mention of Hill being involved in the investigative process.
“Victims of sexual abuse and/or sexual harassment deserve to have their voices heard,†the AG said. “As a prosecuting attorney, I fought hard for the rights of victims — while also safeguarding the rights of the accused.â€
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Jennifer Drobac, a professor at the Indiana University Robert H. McKinney School of Law and a sexual harassment law expert, told the Indiana Lawyer last week that the legislative investigation was flawed for several reasons, including the fact that Hill was not included in the process. Hill has taken a similar stance and told reporters on Monday that he “anticipate(s) and welcomes the opportunity to have (his) side heard through a proper investigation.â€
Hill declined to answer any questions during his Monday press conference, citing his desired investigation. Once that has concluded, he said he looks forward to sharing his side of the story publicly.
“For now, I’m going to get back to work, but before I do, I have one last thing to say,†Hill concluded. “A week ago today, I had a name. I want my name back.â€
Sticking to his word, Hill then left the press conference and shut the door to his office without taking questions. A guard was posted at the entrance of his private office as reporters were leaving.
Despite Hill’s resolve, calls for him to step down continued in the wake of his Monday statements. Senate Minority Leader Tim Lanane — the Anderson Democrat who interviewed McLemore about her allegations, according to the memo — released a statement criticizing Hill’s decision to stay in office and his use of his campaign website to criticize the investigation.
“It is unfortunate that the Attorney General has decided to remain in his seat as Indiana’s chief law enforcement officer, instead of stepping aside,†Lanane, an attorney, said in the statement. “These allegations will continue to discredit this important office, and is an unnecessary distraction from the work that needs to be carried out by his office.â€
“Today, I reinforce my call for his resignation,†Lanane continued, “and am glad that leaders and elected officials from both parties, including the governor, have joined me in this call.â€
Reardon also released a statement in response to Hill’s comments on Monday, saying she will cooperate with any further investigation.
“When we take the oath of office, to serve the citizens of Indiana, we agree to be held to a certain standard and honor the trust the public has placed in us,†Reardon said in her statement. “Curtis Hill, through his actions has betrayed the public trust, and lied about his actions to the very citizens he serves. I will continue to cooperate with any and all investigations into this matter until such a time that Curtis Hill is held accountable for his abhorrent behavior.â€
In addition to Hill’s calls for a new investigation into the allegations, the state’s inspector general has agreed to look into the allegations at the request of Bosma and Long.
The Democratic Attorneys General Association also weighed in over the weekend, criticizing its Republican counterpart for not addressing the allegations.
“Does RAGA’s silence suggest a lack of support for a zero-tolerance approach for sexual harassment?†Washington, D.C., Attorney General Karl Racine and Oregon Attorney General Ellen Rosenblum said in a Saturday statement on behalf of the Democratic organization. “We call on RAGA, starting with RAGA chair and Arkansas AG Leslie Rutledge, to end its silence.â€
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The Indiana University Department of Athletics announced on Monday that senior women’s swimmer Lilly King, senior swimmer Ian Finnerty and men’s soccer’s Grant Lillard have been named IU’s 2017-18 Athletes of the Year.
“Competing and excelling on the biggest athletic stages is a top priority for IU Athletics, and Lilly King, Ian Finnerty and Grant Lillard have clearly done that,†said IU Vice President and Director of Intercollegiate Athletics Fred Glass. “What is equally impressive is how they each combined their extraordinary individual achievements with tremendous team success on the Big Ten and NCAA levels. Congratulations to all three for being very deserving recipients of our IU Athlete of the Year award.â€
King, a three-time recipient of the award, became just the third person in Big Ten history to be named the league’s Female Athlete of the Year more than once.
The six-time NCAA champion successfully defended her titles in both the 100 and 200 breaststroke in 2018, posting the fastest times in history in both events and becoming the first woman in Big Ten history to win three-straight national championships in league history.
“One of the most impressive attributes of Lilly King is her amazing level of consistency, IU head swimming coach Ray Looze remarked. “She is a true winner in every sense of the word. Hard worker, outstanding leader, confident, and unbelievably passionate in her commitment to Indiana University. As the reigning world record holder in four different events, she is truly one of the premier athletes on the face of the planet.â€
King’s six NCAA crowns are the most for any woman in Big Ten history and also matches Rebecca Soni of USC and Kristy Kowal of Georgia’s NCAA record of six total breaststroke titles.
Along with her two championships, King earned four All-America honors, helping the Hoosiers place eighth overall at the NCAA Championships – the third-straight top-10 finish for Indiana.
Along with her NCAA titles, King was named Big Ten Swimmer of the Year for the third time and also earned her third-straight First-Team All-Big Ten selection. King is also a two-time Academic All-Big Ten honoree.
At the 2018 Big Ten Championships, King won two individual league titles, sweeping the breaststroke events for the third-straight season, and also helped IU win crowns in the 200 and 400 medley relays. For her career, King is a 12-time Big Ten champion.
Finnerty took home three NCAA titles in 2018, finishing atop the podium as part of the winning 400 medley relay team, as well as winning individual crowns in the 100 and 200 breaststroke. The junior became the first man in IU history to win both the 100 and 200 breast titles in one season.
“Ian Finnerty has come a long way since his days at Bloomington South High Schoolâ€, Looze said. “He committed to the most diversified mixture of training on our squad this past year, which really paid off allowing him to contribute in a variety of areas for the team at the highest NCAA level. To top things off, sweeping all the breaststroke events at the NCAA’s with training partner Lilly King was an incredible accomplishment for IU.â€
In the 100 breast Championship Final, Finnerty became the first swimmer in history to break the 50-second barrier, posting the best time in history in 49.69. He won the 200 breast with a Big Ten, school and pool record time of 1:50.17.
At the Big Ten Championships, Finnerty took home five conference titles – 100 breast, 200 breast, 200 medley relay, 400 medley relay and 800 freestyle relay – to earn First-Team Big Ten honors.
The junior played a pivotal role in the Hoosiers repeating as Big Ten champions, earning the program’s 26th league crown.
Lillard wrapped up his tremendous, four-year career with the Hoosiers in 2017 with a stellar season. A MAC Hermann Trophy finalist, Lillard was a unanimous First-Team All-America selection after being named the Big Ten Defender of the Year and First-Team All-Big Ten. He also earned First-Team United Soccer Coaches All-Midwest Region, College Cup All-Tournament Team, Big Ten All-Tournament Team and Academic All-Big Ten honors this year.
“It’s great to have Grant honored by our athletic department as co-Male athlete of the year,†IU head men’s soccer coach Todd Yeagley said. “To be selected among so many great athletes competing at IU is a great accomplishment. Grant helped lead our team to one of our finest seasons in program history and played a huge role in our record-setting shutout. Grant certainly left a big mark on our program and we are excited to see him continue on his soccer journey as he excels for the Chicago Fire in Major League Soccer.â€
The Hinsdale, Ill. product started 25 matches for the Hoosiers at center back, helping lead one of the best defenses in the country. IU led the nation in shutouts (18), goals allowed (7) and goals-against average (.260). He has also contributed offensively this year, totaling two goals and two assists. Lillard was also a standout in the classroom, earning his third-straight Academic All-Big Ten honor in 2017 after being named a Second-Team United Soccer Coaches Scholar All-American in 2016.
After helping guide Indiana to the College Cup National Championship match and a 18-1-6 record on the season, Lillard signed a Homegrown Player contract with the Chicago Fire of the MLS.
Lillard is the third player in Indiana history to sign Homegrown Player contract, joining Patrick Doody (Chicago Fire, 2015) and Tommy Thompson (San Jose Earthquakes, 2014).