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Midwest Mole tunnels into large local projects: East-side company in unusual niche makes mark

In the face of a slumping local economy in the early 1980s, several national construction firms packed up and left Indianapolis. One locally based salesman, Len Liotti, was given a choice-move to St. Louis along with his job at tunneling contractor Affholder Inc., or set out on his own. Seeing the void the big players would create when leaving, Liotti started Midwest Mole Inc. in 1982 to fill it. Twenty-five years later, the privately held firm is thriving thanks to…

VOICES FROM THE INDUSTRY: There’s really nothing light about the topic of light rail

Twenty U.S. cities have some form of light rail systems in operation, and about 40 more are constructing or seriously considering light rail systems. While the list of cities with active systems isn’t really all that surprising (you can see it online at w w w. a p t a . c o m ) , are other cities so busy building or extending them? Imagine a trolley system with regular stops within a city, but it has the ability…

SPORTS: Calm on display just days before the big game

On the morning of Oct. 30, just five days before the NFL’s Game of the Century, Regular-Season Variety, I imagine-but don’t know for certain-that New England Patriots Coach Bill Belichick was hunkered down in some office bunker at the Patriots training complex, bags under his eyes, hooded sweatshirt pulled over his head, scowl on his face. Certainly, he was poring over game films of the Indianapolis Colts, searching for clues that would help his team continue on its scorched-earth mission…

Update on the Circle Truss

What do you think of the Circle Truss proposal? The 280-foot-tall, $10-million stainless steel structure, designed by Kevin K. Parsons & Associates Inc., would be lined with LED lights lit with colors…

‘Morning Mess’ lands at Atlanta station

The popular “Morning Mess” radio show, which has been pushed out of Indianapolis’ WNOU-FM 93.1, will start airing on a Top 40 station in Atlanta early next year. WNOU owner Emmis Communications Corp. last month changed the format on the 93.1 frequency and sold the “Radio Now” intellectual property to Radio One, but its morning […]

Veteran GM abruptly departs WTHR

Long-time WTHR-TV Channel 13 General Manager Rich Pegram has left the station. Yesterday was his last day, WTHR spokesman Jeff Dutton confirmed. Reasons for his departure were unclear. WTHR officials would not elaborate, and Pegram could not be reached for comment. “It was a mutual decision between Rich and the company,” Dutton said. Other sources […]

Lilly Ventures pumps funds into startup

HemaQuest Pharmaceuticals, a startup in Newton, Mass., said today it has received $20 million in funding from Lilly Ventures, De Novo Ventures of Palo Alto, Calif.; and Forward Ventures of San Diego. The amount of the investment by Lilly Ventures, the venture capital arm of Indianapolis-based Eli Lilly and Co., wasn’t specified. HemaQuest is developing […]

Hot weather, rate increase propel Vectren profit

Vectren Corp. reported profit of $17.1 million in its third quarter, a 42-percent increase over the year-ago period. Revenue rose 12 percent, to $381.4 million. The Evansville-based energy company attributed the increases to more air-conditioner use and its first electric base rate increase in 12 years. Vectren provides utility service to most of the Indianapolis […]

Senate Pro Tem taps Papa as chief of staff

David Long, the Indiana Senate’s President Pro Tempore, has hired Barnes & Thornburg associate attorney Jeffrey L. Papa as his first chief of staff. Papa also will be the Fort Wayne Republican’s chief legal counsel. Papa has held several positions with the Senate Republicans. A economics major at Rose-Hulman Institute of Technology, the Zionsville resident […]

Goelzer sells business valuation arm

Indianapolis-based Goelzer Investment Management has sold its business valuation and corporate financial advisory service unit, Goelzer Investment Banking, for an undisclosed price. The buyer, GBQ Partners LLC of Columbus, Ohio, is the largest such accounting and consulting firm in the state. It is led by former Goelzer professional Robert Stutz. “Goelzer has been and always […]

Dunkin may replace Panda

A shakeup continues for street-level retail on Washington Street downtown. Panda Express plans to close its store in the former Roselyn Bakery at Washington and Pennsylvania streets, and a deal is…

Florida firm to create 750 jobs in Jeffersonville

Connextions Inc. of Orlando, Fla., will locate a secure customer support center in Jeffersonville, creating 750 jobs, the Indiana Economic Development Corp. announced this afternoon. The $6 million project in the southern Indiana city will be similar to locations the company operates in Orlando and Concord, N.C. Connextions employs a total of 2,000. The company […]

Shareholders clobber Conseco after report

CEO Jim Prieur is accentuating the positive after Conseco Inc.’s latest quarterly loss. But Wall Street investors concentrated on the negative this morning, punishing the Carmel-based company’s shares yet again. “We’ve been through some of the pain and now we’re coming out the other side,” Prieur said in an interview last night. “The gross number doesn’t […]

Big housing project delayed until next year

A 2,000-home housing development planned for near Bargersville south of Indianapolis has been delayed until next year, according to the Daily Journal of Franklin. Developer Mike Duke said five other projects he is working on must be finished before starting the Abbey, which is to have single-family houses, townhouses, condominiums and a golf course. If […]

Profit, sales down for truck trailer maker

Wabash National Corp. reported third-quarter profit of $3.8 million, down 24 percent from the year-ago period. Sales in the period ended Sept. 30 were $291 million, nearly 20 percent lower than last year. The Lafayette-based maker of semi-truck trailers echoed sentiment expressed last week by Indianapolis trucking firm Celadon Group Inc., which said a soft […]

IU forecasts modest growth in 2008

Sounding downright Greenspanian, economists at Indiana University’s Kelley School of Business said this morning they are “cautiously optimistic” that 2008 will be a year of modest growth. The U.S. economy will grow 2.5 percent, less than the 3 percent they expected for 2007, they said during the business school’s annual breakfast meeting downtown. Indiana’s economy […]

Duke funds from operations beat outlook

Duke Realty Corp. reported late yesterday that funds from operations in the third quarter increased 4.6 percent, to $93.7 million. The 68 cents per share exceeded the 67-cent average anticipated by analysts surveyed by Thomson Financial. Late last month, Indianapolis-based Duke, one of the nation’s largest industrial real estate investment trusts, said its leases hit […]

Norm’s blog entry

Developer Rivalry: Locally based developers Duke and Lauth, headquartered on opposite sides of I-465 just east of Meridian Street, have cultivated quite a rivalry over the years. The latest win goes to Lauth. The company won a side-bet in a…

Furs, golf, fitness and Whac-A-Mole

A couple of nuggets from recent development plans:

Making Way for Venu: Another Woodfield Centre tenant is moving to make way for redevelopment. Elan Furs has filed plans to take space in Clearwater Shoppes…

Hilbert backing Centaur’s ‘racino’ projects

Stephen Hilbert’s private equity firm is providing some of the $1 billion in financing that Indianapolis-based Centaur Inc. has assembled to fund “racino” projects in Anderson and near Pittsburgh. Centaur this afternoon said it had closed on the financing, which will fund the addition of 2,000 slot machines at Hoosier Park in Anderson. Included in […]