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Competency of Viacom billionaire Sumner Redstone questioned in court

Saturday, November 28, 2015 7:49 pm

Sumner Redstone, the aging media mogul who controls Viacom and CBS Corporation, is a "living ghost" who is practically unable to make decisions for himself, according to allegations leveled in legal filings.

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  • Economic Turmoil

    Tuesday, August 16, 2011

    There have been a lot of concerns surrounding the current US economic situation. While it is serious, there are a lot of different views that are creating more confusion. Here are some quick thoughts that I believe will shed some additional light on the situation.

    Debt Ceiling

    In the first few days of August we heard that we had reached our debt ceiling and that if it was not raised, the US would be in default on its obligations.  There is some truth, but also some misconceptions in that thought.  Assume you are utilizing a credit card to pay bills, etc with a $10,000 limit and you currently have $9,500 balance on the credit card, you have $500 remaining prior to hitting your personal debt ceiling.  What are your choices if you want to continue to use the credit card? {Get another credit card, get a line increase}.  If you have the ability to get another card or get a line increase, you will not default on the payments you are making, but payments may be delayed or delinquent until you get the new card or a line increase.  You would still have the ability to make payments on your bills rather than using your credit cards you will be limited to what is in your checking account or the cash you have available.  Congress needed to increase the “credit line” or debt ceiling so the US Treasury could continue to borrow.  While the US was not bankrupt like other European nations, without the increase the US Treasury could not continue to issue debt to pay the bills.  While the US Treasury would still have been able to pay some bills due to revenues, other bills could not be paid because the government is paying more out than they are receiving in revenues.  This practice of paying out more than revenues at the current pace is not sustainable and Congress must find a way to match revenues and expenses in the near future (balanced budget).

    S&P Downgrade

    S & P reduced the ratings of the US government due to the above discussion.  In normal situations, a downgrade of a company’s rating would result in the company to pay higher interest rates due to being seen as a riskier investment.  After the S & P downgrade the US Treasuries interest rates actually decreased due to it being the most liquid currency and the faith put into the US economic system around the world.  So, while a decrease in the S & P rating should not be taken lightly, due to the increasing debt of the US, we should not allow others to convince us that the sky is falling.  The most liquid, secure investment continues to be US debt (Treasuries) and other corporate debt will continue to be priced off of US Treasuries.


    Congress must find a way to reduce the increase in the US debt.  The final outcome will probably be increased revenues (tax increases) and expense reduction (reducing government programs) to help balance the budget.  The current level of expenses versus the revenues generated is not sustainable and a balance approach to solving this issue is necessary.

    Chris Cook, CPA, MBA
    Senior Vice President, Treasurer and Chief FInancial Officer
    MutualFirst Financial, Inc. and MutualBank
    Email Chris 

  • Christmas in July

    Friday, July 29, 2011

    It is hard to think about Christmas when it's over 90 degrees outside.  Let me give you a reason to start thinking about snow, get togethers, Christmas cookies and the holiday season...

    Christmas is 21 weeks away. You might not think that is very soon, but for those of us who buy gifts, make candies and cookies, host get togethers and travel, 21 weeks is right around the corner! 

    As each holiday season approaches, I realize I always forget to budget for Christmas gifts. Before I know it, it's Thanksgiving and I'm trying to figure out how much money I can spare so I can buy that special framed artwork that would look perfect in my sister's new home. This year is going to be different.  I'm planning ahead. I've come up with a few ideas to help me save specifically for Christmas. I thought maybe these ideas could help you too.  Also, I have a few ideas to help plan for the future holiday seasons! Take a look:

    • Open a savings account
      The first step in saving is having a place to put the money. (No, under the mattress doesn't count.)  MutualBank offers a variety of saving avenues from accounts to CDs.  
    • Set aside $25.00 per week.  
      Did you know: If you set aside $25.00 a week from now until Christmas, you will have saved $500 by Christmas? 
      You can save $25.00 or more per week by setting up TMS (Transfer Management System) with MutualBank. Money can be automatically transferred to another checking or savings account so you don't have to do a thing!! 

    There are other ways you can save for future holidays. Did you know we have a cd that requires a deposit weekly, biweekly or monthly? It's called the Clockwork CD. This helps keep you accountable to your commitment and can be automatic!

    The hardest step is the first step. Make a commitment to save and talk to your MutualBanker to get set up for plan that works for you. Saving doesn't have to happen overnight; it can happen $25.00 at a time! 

    Merry Summer to you!

  • How many folds?

    Monday, July 25, 2011

    Last week, we asked our Facebook Fans and you through the poll on our website:
    "The average dollar bill is meant to take up to how many folds in each direction before it rips?"

    The results:

      Answer choices:     Facebook Results:     Website Poll Results:  
    500 25% 17%
    1000 50% 28%
    4000 25% 30%
    8000 0% 23%


    And the correct answer is:

    4000 Folds!

    Can you believe that? According to the United States Treasury, you can double fold (first forward, then backward) a bill up to 4000 times before it rips! The reason is because currency paper is 25% linen, making it rip-resistant.

    I wonder if that number decreases if the bill has been washed!

  • What's your phone to you?

    Monday, July 18, 2011

    MutualMobile is here!

    I have been waiting for this day, the day when MutualBank has mobile banking.  My phone is so many things to me:  my watch, alarm clock, email, newspaper, search engine, navigation, and now banking. 

    Did you know that there are over 223 million US mobile phone users over the age of 13*?  There are times I wonder how any of us lived without our mobile phones, and that we can’t survive the day unless our phone is within arm’s reach.  The more I have my MutualMobile APP, the more I wonder what I did without it!  At any moment I can see my balance, transfer money, check to see where the closest MutualBank ATM is.  Hold on, did I pay my electric bill?  Yes, I did, just checked it on MutualMobile

    With my busy lifestyle, I don’t always have time to write my transactions down the same day.  With MutualMobile I can keep track of the everything clearing my account and not worry about making time to sit down at my computer verifying the transactions and balancing my checkbook.  Just the other day, I was waiting on my car to get serviced, pulled out my phone to pay my bills, transfer money, and balanced my checkbook.  WOW!  How convenient is that?

    *Statistics from Nielsen 2010 Media Industry Fact Sheet
  • Race to Syracuse Summerfest!

    Friday, July 8, 2011

    It has been just over a month since the Joplin, Missouri tornado that claimed too many lives and left the town in pieces.

    Sometimes being a community bank doesn't just mean helping the communities in which you reside.  Sometimes it means helping a community in need, no matter where they are located.  That's exactly what we're trying to do.

    The MutualBank team of Syracuse invites you to participate in a pedal cart race to benefit the Joplin Disaster Relief.  Here is all of the information you need to know:

    • Date: Saturday, July 9th
    • Time: Registration/Lunch 12:30pm - 1:30pm / Race 1:30pm
    • Address: 612 S. Huntington St. Syracuse, IN 46567
    • Teams of four may participate - Registration per team is $10.00
    • Prizes will be awarded to three teams with the best times

    Spectators are welcome! You do not have to participate in the race to enjoy this fun event. C'mon over for a fun time as we do our part to help Joplin, Missouri pick up the pieces and begin rebuilding!

  • Vacation

    Tuesday, June 28, 2011

    The 4th of July weekend is quickly approaching and that typically means traveling and vacation for you and your family.

    Family vacations can be stressful.  What are you going to pack? What entertainment do you need for the kids? When and where are you going to eat? The list goes on...

    So far on our Facebook Poll, many of you say you're driving to your destination for your family vacation this year. In order to help you live a better life and hopefully help you have a better family vacation, we found an article that gives you some summer driving tips for your family vacation.

    Travel safely this holiday weekend.  

    From our MutualBank Family to yours, Happy Independence Day!

  • Customer Appreciation Day - Warsaw

    Friday, June 10, 2011

    It’s a fun twist on the typical customer appreciation day.  We’re celebrating YOU in a tropical way! 

    We welcome your visit on Friday, June 10th to meet the Mutual team, play games, enter to win prizes, enjoy a free lunch with a cool beverage, from 11am until 2pm. Visit any of the following Warsaw financial centers to enjoy the festivities!

    2034 East Center Street

    219 West Market Street

    SR 15 and 250 North




  • Customer Service Poll

    Tuesday, May 31, 2011

    Have you taken our Polls?

    As part of our website upgrade and new look, we added a polling feature.  This is just one more way we're seeking your opinion.  Of course you can always call us, email us, visit our Facebook Page or Tweet us on Twitter.  But in case you just want to share your opinion casually, feel free to take our poll! It's located on the left hand side of the website homepage.  

    Since we upgraded our website in April, we had a poll asking, "How would you rate our customer service?"

    Here are the results:
    71% - Excellent (Thank you!)
    13% - Good
    6% - Average
    8% - Poor (Thank you!)

    You might be wondering, why are you saying 'thank you' to those who voted you having poor service?

    What this tells us is we have room to improve. While we believe we are the best bank in town and have the best employees in the world, we know there is always room for improvement.  If you have insights on how we can improve, please let us know!

    So feel free to communicate with us anytime, whether it be through our polls, via email or a phone call. Maybe it's through a blog comment or Facebook or Twitter.  We want to hear how we can help you live a better life.

  • Annual Financial Check Up

    Tuesday, May 24, 2011

    If you get an annual check up, shouldn't your finances get one too?

    Reviewing your finances can provide financial peace of mind.  Here are a few items to review annually. 

    • Insurance – Have enough coverage for your home, auto, belongings, health and life.  Review deductibles and consider an umbrella policy for extra protection.
    • Mortgage – Could you reduce your monthly payments by refinancing?  Would a different type of mortgage (ARM, 15 year or 30 year) be more appropriate?
    • Household spending – Preparing a household budget may identity ways to save.
    • Retirement planning – Take full advantage of your employer’s retirement plan and consider an IRA.
    • College funding – Start saving early.  Consider tax advantaged options like Qualified Tuition (Section 529) Plans.
    • Investments – Divide your funds into equities, fixed income and cash with an eye on your time horizon and risk tolerance.  
    • Income taxes – Take full advantage of all tax savings tools like your retirement plan.  Organize your records.  
    • Estate planning – Be sure your will is up to date and that you have named an executor, a guardian for minor children and have durable powers of attorney for finances and health care.
  • 10 Facebook Settings to check right now

    Wednesday, May 18, 2011

    As Facebook becomes the window to the Web for its more than 500 million users worldwide, the security of the social network has never been a hotter topic.

    (In fact, your bank is even on Facebook! Check us out here!)

    While it can be hard to make a Facebook account completely hack-proof, you can do a lot.  Here are 10 Facebook settings for you to check now.

    1. Who can see what?

    Your first stop should be your privacy settings, which you can get to under "Account" at the top right of any page.

    Here, make sure you're using a set of custom settings. Click "Customize settings" under the grid on that page to see who can see which parts of your Facebook profile.

    Unless you use your Facebook account as a completely public page, every single one of these options should at least be set to "Friends Only." From there, you can make each setting more specific, keeping your photos hidden for certain people, for example.

    2. Place your friends in lists

    To make the previous tip more powerful, place your Facebook friends in lists. If you begin to define lists such as Coworkers, Best Friends, Employees, Students, etc., you can set each of your settings to be visible or not visible to a whole list of people.

    To do this go to "Edit Friends" under the Account menu. Type in a friends name and add them to a list.

    Then make sure that only your best friends, for example, can see the photos you post. Or make sure that your students or employees don't see your status updates.

    You also can add a friend to a list as you accept their friend request.

    3. How secure is your password?

    This is the front line to your Facebook security and should be taken seriously. Good passwords include capital letters, punctuation, numbers and words that can't be found in the dictionary.

    Resist using anything that someone who knows you well enough could guess (kids, pets, phone numbers, etc.).

    If you think for any reason that your account's security has been breached, change your password immediately. Doing so will end every active session of Facebook for your account, locking anyone else but you out.

    4. Who can find you?

    Facebook also allows you to set what people see if they're not your friend. Under privacy settings, click "View Settings" under the "Connecting on Facebook" setting at the top of the page.

    Here, you can set what people see when they search for you on Facebook.

    Pay special note the bottom option, which allows you to set who can see what you have "liked" on Facebook. Many don't realize that by default this option is set to show everyone on the Web what you like.

    Don't want that future employer to know that you "like" naps or skipping class? This is a good thing to check.

    5. What does my profile look like to Grandpa?

    Even the most conscientious Facebook user can miss a check box or two, putting his or her entire weekend escapade on Facebook for Grandpa to see.

    But the good news is that you can preview what your profile looks like to any of your friends, many of whom can see different things depending on your advanced you have set your privacy settings.

    In your privacy settings, click "Customize Settings" then "Preview My Profile."

    Here, you'll be able to type in any friend's name and see exactly what they see. Very handy.

    6. Browse Facebook securely

    One of Facebook's most vulnerable features is that much of your browsing is done without a secure connection to the Web site. Hackers have exploited this hole by accessing your personal information if you use Facebook on a public or unsecured WiFi network.

    In your account settings, choose Account Security. There's a check box there to enable secure browsing whenever possible. Check that.

    You'll soon see that Facebook will be using https:// instead of http://. That's how you know you're more secure.

    7. Who is logging in as you?

    One of Facebook's greatest security features is the ability to individually approve each computer or mobile device that logs into your account.

    You can name each computer you use Facebook with (work, home, laptop, iPhone, etc.).

    To turn this on, go to your account settings, click on "Account Security" and choose that you want an e-mail or text message when someone tries to log in from a computer that isn't one you've approved.

    Here, you can also see all the open sessions of Facebook tied to your account. Someone logging in from five states away? Click "end activity" and they'll be stopped in their tracks.

    8. Which apps know you?

    As we have used Facebook over the years, each of us has amassed list of applications that have access to our Facebook information.

    To see which apps now have access to our Facebook information, go to your privacy settings and click edit under "Apps and Websites" at the bottom left of the page.

    On the next page, click edit settings next to "Apps you use."

    Here, you'll see a list of all the apps that have your information on file. Many of them are used for convenience, such as integration with the popular Instagram photo-sharing app or commenting services on news Web sites. But there are certainly some you could lose.

    Click the X next to any app you want to yank your information from.

    9. Even your friends' apps know you, too

    This one is even scarier. On the same app privacy page, check out the subhead that says "Info accessible through your friends."

    You may not know it, but anything your friends can see on Facebook can also be seen by any app that your friends add on Facebook -- including apps that you have no idea were ever given access.

    To disallow this, click on edit settings and uncheck all the boxes that allow you to choose what about you can be shared with apps that your friends add. Click save.

    10. Who can post on your wall?

    Facebook security has become a veritable cesspool of spam.

    Many of these spammy links are clickjacking schemes, which spread by posting links on a bunch of your friends' walls.

    The only fool-proof way to prevent these links from gumming up your own wall is to set it so that no one can post directly on your wall. Friends still can comment on your status messages, links and photos, but won't have the ability to leave you a public note.

    To change this setting, head to the customize settings area under privacy. Then uncheck the "Enable" box where it allows friends to post on your wall.

    Courtesy of the The Associated Press -- 8:26 PM, May. 17, 2011

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