2011 NEWSMAKER: Daniels declines presidential bid
Supporters of Indiana Gov. Mitch Daniels were disappointed when he announced May 22 that he would not seek the Republican nomination for president.
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GOP-controlled Legislature overhauls K-12 education
This year saw the most sweeping changes to public education since the approval of teachers’ unions in 1973.
2011 NEWSMAKER: Eugene White in crosshairs as reformers target IPS
There’s a pitched battle under way in K-12 education as reform advocates and charter schools challenge traditional institutions such as teachers’ unions and education schools.
Real estate meltdown leaves developers reeling
It was another rough year for the real estate sector in 2011, as the homebuilder Estridge filed for bankruptcy, strip-center specialist Broadbent struggled to hold onto its headquarters, and Centre Properties faced a $43 million foreclosure suit.
Spate of Indiana firms lines up for IPOs
The highest-profile Hoosier initial public offering was staged by Angie’s List Inc., the online provider of consumer reviews. The Indianapolis-based company raised $76 million by selling new shares, and existing stockholders raked in another $31 million by selling some of their holdings.
Rolls-Royce relocates 2,500 jobs to downtown
The aircraft-engine maker will occupy Eli Lilly and Co.’s former Faris Campus on South Meridian Street, which is being renamed the Rolls-Royce Meridian Center.
Openings launch new era for Indianapolis tourism
The $275 million Indiana Convention Center expansion was completed in January, and the 1,005-room JW Marriott opened the following month.
Las Vegas calamity saps IndyCar momentum
IndyCar Series CEO Randy Bernard racked up a number of accomplishments early in 2011 but was buffeted by challenges late in the year—most notably a crash at a Las Vegas race in October that left one driver dead and the future of the series mired in uncertainty.
Patent expirations up pressure on Lilly
Eli Lilly and Co. lost patent protection on its $5-billion-a-year best-seller Zyprexa in October, plunging the company into the long-awaited zone of uncertainty that it calls “Years YZ.”
State’s economy still stuck in neutral
The year started with a sense that slowly—not fast enough for anyone’s liking—but steadily, Indiana’s economy was coming back. But then a spike in gas prices and the never-ending sovereign debt crisis in Europe created a summer of setbacks.
Indictment: Durham looted Fair Finance
Indianapolis financier Tim Durham was indicted on wire and securities fraud charges in March—the culmination of a federal probe that began in 2009.
Latest Fair Finance suits target Durham associates
Defendants include companies affiliated with Indianapolis restaurateur Henri Najem, the rapper Ludracis and former Indianapolis Colts quarterback Blair Kiel.
State Republican committee agrees to Durham settlement
The Indiana Republican State Committee has agreed to pay back $87,875 in political contributions it received from indicted financier Tim Durham. In addition, a political group supporting Gov. Mitch Daniels agreed to a $10,000 settlement.
Fair trustee sues Durham’s mother for $831,000
The lawsuit alleges Mitza Durham of Seymour received 58 checks or wire transfers from the indicted financier from February 2006 through November 2009.
Governor’s Fair Finance settlement yields just $3,000
Court papers show the Mitch for Governor Campaign Committee isn't paying more in a settlement with Fair Finance Co.’s bankruptcy trustee because it has just $3,500 left.
IU study concludes that donating merchandise is good business
Researchers say the study was the first to examine return-on-investment from donating merchandize vs. liquidating or destroying it.
Latest Fair suits target Kato Kaelin, playmate, many others
A former Playboy playmate, a well-known rapper and local businessmen are among the defendants in a barrage of lawsuits filed by a bankruptcy trustee trying to collect funds for investors of Fair Finance Co., the defunct Ohio firm led by Tim Durham.