Year in Review

Banks gobble TARP money, suffer losses

December 26, 2009
Peter Schnitzler
The housing meltdown and recession gave banks in Indiana and across the nation their biggest test in decades.
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Health care industry braces for reform

December 26, 2009
J.K. Wall
Congress is on the cusp of transforming health insurance—if it can pass a health reform bill that was losing popularity late in the year.
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Slump sets Hoosier job levels back 14 years

December 26, 2009
Norm Heikens
The 131,000 jobs lost in the 12 months ended in November amounted to a 7.2-percent decline and were nearly equivalent to the combined populations of Carmel and Fishers.
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First decade of century marked by buyouts and bubbles

December 26, 2009
J.K. Wall
The decade witnessed a massive terrorist attack, two wars, and a building-and-buyout boom fueled by easy credit.
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Symphony ousts maestro, reports historic budget gap

December 26, 2009
Kathleen McLaughlin
The Indianapolis Symphony Orchestra experienced a year of financial and leadership shocks, as it reported a $2.8 million budget shortfall and abruptly dismissed Music Director Mario Venzago.
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Recession, lockdown of credit hammers businesses of all sizesRestricted Content

December 29, 2008
Cory Schouten
Stock markets fell, jobs disappeared, and the outlook for the economy seemed to grow grimmer by the week in 2008. Banks, real estate developers, retailers and manufacturers took some of the worst hits, but all types of businesses in central Indiana felt the pain.
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Stock markets weather historic plungeRestricted Content

December 29, 2008
Greg Andrews
Unless markets surge in the final days of the year, 2008 will go down as the worst year for stocks since the Great Depression.
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Daniels, Obama cruise to victoryRestricted Content

December 29, 2008
Peter Schnitzler
The last time Indiana went for the Democrat in a presidential election, Lyndon Johnson trounced conservative Barry Goldwater at the 1964 polls. More than 40 years later, Sen. Barack Obama earned his historic White House victory thanks, in part, to Hoosiers' 11 electoral votes.
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Lilly makes $6.5B acquisitionRestricted Content

December 29, 2008
J.K. Wall
Eli Lilly and Co. CEO John Lechleiter played a game of pharmaceutical poker with former Lilly Chief Financial Officer Jim Cornelius—and won.
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Activist shakes up Steak n Shake after taking controlRestricted Content

December 29, 2008
Cory Schouten
After months of agitating for changes at The Steak n Shake Co., investor Sardar Biglari finally got a shot at putting his theories into action.
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Stadium, airport terminal openRestricted Content

December 29, 2008
Anthony Schoettle
The $720 million Lucas Oil Stadium opened in August, just in time for the Indianapolis Colts' season. Indianapolis International Airport's $1.1 billion midfield terminal, meanwhile, took off in November.
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Indy scores 2012 Super BowlRestricted Content

December 29, 2008
Anthony Schoettle
In May, Indianapolis narrowly won the right to host the 2012 Super Bowl, beating out Phoenix and Houston at the National Football League owners' meeting in Atlanta.
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Mergers transform Indianapolis legal landscapeRestricted Content

December 29, 2008
Scott Olson
Indianapolis law firms finally jumped in a big way into the merger mania that's sweeping the legal profession.
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Sports veteran picked to plan Indianapolis Super BowlRestricted Content

December 29, 2008
Anthony Schoettle
The woman chosen as CEO of the city's Super Bowl host committee isn't exactly a household name, but those who hired her think she'll make Indianapolis the best host city ever.
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Tax caps thrill homeowners, assessments chill businessesRestricted Content

December 29, 2008
Peter Schnitzler
Soaring property taxes were arguably Indiana's biggest problem in 2007. In 2008, the Legislature approved property tax caps as a solution. But because the caps haven't been implemented, debate is still raging over the consequences the caps will have for local governments and whether they should be made permanent.
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High-flying Premier Properties crashes

December 29, 2008
Cory Schouten
The founder of local real estate firm Premier Properties USA Inc. saw his company falter this year and faced three felony charges in connection with its downfall.
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Big Three automakers stay aliveRestricted Content

December 29, 2008
Kathleen McLaughlin
The weakest of the Detroit Three, Chrysler LLC and General Motors Corp., said they would run out of cash in 2009, potentially eliminating tens of thousands of jobs in Indiana alone.
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WellPoint shares sufferRestricted Content

December 29, 2008
J.K. Wall
It was a bad year to be a shareholder of most companies. But the value of the Indianapolis-based health insurer's stock lost more than 55 percent of its value during the year.
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Tourism chief hired from SeattleRestricted Content

December 29, 2008
Anthony Schoettle
Though few knew what to think when Don Welsh announced in June he was leaving Seattle to become Indianapolis Convention & Visitors Association CEO, he's shown he didn't come here to simply wind down his career.
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Davis Homes folds, other builders struggleRestricted Content

December 29, 2008
Cory Schouten
Davis Homes, one of the state's largest home builders, fell victim to the tough housing market, ceasing operations July 23.
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Turmoil forces National City saleRestricted Content

December 29, 2008
Cory Schouten
After a 17-year run in Indianapolis, National City's trademark green signs are set to be replaced with the blue of Pittsburgh-based PNC Financial.
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Angie's List chief builds company, rebuilds Holy CrossRestricted Content

December 29, 2008
Peter Schnitzler
For several years, Angie's List CEO Bill Oesterle also has been quietly attempting to revitalize the near-east side.
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Twice-bankrupt ATA finally foldsRestricted Content

December 29, 2008
Chris O'Malley
Any hopes that hometown airline ATA would make a comeback and eventually resume scheduled service from Indianapolis were dashed April 2, when it filed for bankruptcy and ceased operations.
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Property tax crisis deals Indiana a blowRestricted Content

December 31, 2007
Peter Schnitzler
Many called it "the perfect storm." But in retrospect, the dark clouds of Indiana's 2007 property tax crisis had been forming for years. Legislators caught wind early that something was amiss and spent all spring preparing to weather the impact.
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Feltman takes overRestricted Content

December 31, 2007
Peter Schnitzler
In 2007, Nathan Feltman became Indiana's secretary of commerce, replacing his mentor, IBJ Media Corp. co-owner Michael Maurer. It was a smooth transition.
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  1. The east side does have potential...and I have always thought Washington Scare should become an outlet mall. Anyone remember how popular Eastgate was? Well, Indy has no outlet malls, we have to go to Edinburgh for the deep discounts and I don't understand why. Jim is right. We need a few good eastsiders interested in actually making some noise and trying to change the commerce, culture and stereotypes of the East side. Irvington is very progressive and making great strides, why can't the far east side ride on their coat tails to make some changes?

  2. Boston.com has an article from 2010 where they talk about how Interactions moved to Massachusetts in the year prior. http://www.boston.com/business/technology/innoeco/2010/07/interactions_banks_63_million.html The article includes a link back to that Inside Indiana Business press release I linked to earlier, snarkily noting, "Guess this 2006 plan to create 200-plus new jobs in Indiana didn't exactly work out."

  3. I live on the east side and I have read all your comments. a local paper just did an article on Washington square mall with just as many comments and concerns. I am not sure if they are still around, but there was an east side coalition with good intentions to do good things on the east side. And there is a facebook post that called my eastside indy with many old members of the eastside who voice concerns about the east side of the city. We need to come together and not just complain and moan, but come up with actual concrete solutions, because what Dal said is very very true- the eastside could be a goldmine in the right hands. But if anyone is going damn, and change things, it is us eastside residents

  4. Please go back re-read your economics text book and the fine print on the February 2014 CBO report. A minimum wage increase has never resulted in a net job loss...

  5. The GOP at the Statehouse is more interested in PR to keep their majority, than using it to get anything good actually done. The State continues its downward spiral.

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