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    Kyle Abram

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Articles

Builders relying on medical projects: Amid general slowdown, health care sector busy

May 26, 2008

There’s no shortage of research pointing to the growth in the health care industry. For example, health care expenditures will account for nearly a quarter of the gross domestic product by 2020. Consumers are increasing the number of times they visit the doctor, and the increase is even greater for baby boomers. The number of medical procedures being performed on an outpatient basis rises yearly. And jobs in the industry will grow 20 percent by 2016. To meet those demands,…

A&E: Welcome lace fans

May 26, 2008

Hear the word “lace” and you’d be justified in thinking of such terms as “delicate,” “elegant” or, if you were in a whimsical mood, even “doily-esque.” Hear “knitting” and you are likely to imagine a grandmotherly woman working on a shawl. That assumes, of course, that you haven’t already been to the Indiana State Museum to see the new exhibit “Radical Lace & Subversive Knitting.” Hear those words after visiting and you’re likely to have other ideas. The exhibition, organized…

Revival in nuclear energy puts engineers in demand: Purdue concerned about possible shortage in field

May 26, 2008

A renewed interest in nuclear energy coming at the same time aging workers are leaving the industry has created the elements for a shortage of nuclear engineers. Nuclear energy as an electricity source is enjoying a resurgence nearly 30 years after a reactor meltdown at Three Mile Island in Pennsylvania severely tarnished the industry’s image. Escalating oil prices and stiffening environmental regulations on coal-based systems are helping to spawn the rebirth of nuclear technology. The U.S. Nuclear Regulatory Commission in…

HKW takes controlling stake in Airworx

May 22, 2008

Hammond Kennedy Whitney & Co. has bought a controlling interest in Airworx Construction Equipment and Supply LLC, an Indianapolis company that rents and sells aerial lift equipment, for an undisclosed price. Selling the stake in the 12-year-old company was Source Capital of Atlanta. Airworx has about 50 employees in Indianapolis and the northern Indiana town […]

Simon prepared for acquisitions, exec says

May 21, 2008

Indianapolis-based Simon Property Group Inc. has access to $3.5 billion in credit as it anticipates snapping up shopping malls, according to Bloomberg. Chief Financial Officer Steve Sterrett told Bloomberg that the $1.5 billion of bond positions the company sold last week was used to pay down debt. The resulting improvement to Simon’s balance sheet positions […]

Eastgate mall acquisition closes

May 21, 2008

Lifeline Data Centers LLC said yesterday that its acquisition of Eastgate Consumer Mall has closed. The Indianapolis company announced in December that it would spend $23 million to transform the 370,000-square-foot mall at East Washington Street and Shadeland Avenue into a high-tech hub for hosting a data-storage operation. Common areas of the mall will not […]

Library suit defendants settle for $1.2M

May 21, 2008

Two defendants blamed for errors in the Central Library expansion project have agreed to pay the Indianapolis-Marion County Public Library $1.27 million. Patriot Engineering and Environmental Inc. and The Rosk Group Inc., both locally based, agreed to a settlement May 15 after participating in a series of court-ordered mediations, the library announced this morning. Both […]

Brownsburg power center planned

May 19, 2008

Two local developers are pitching retailers on a proposed 700,000-square-foot power center in Brownsburg. The massive project seeks to capitalize on a growing population center and the…

Stadium contractor Irish ends operations

May 19, 2008

The Frank E. Irish Co., a large Indianapolis mechanical-contracting firm that’s been working on Lucas Oil Stadium, has ceased operations, according to company President John T. Irish. Irish said the company is striving to find alternative financing in the wake of current lender National City Bank’s move on Friday to shut down the contractor’s operations. […]

Strike hurts state job numbers in April

May 19, 2008

The strike at Detroit-based American Axle and Manufacturing Holdings Inc. was a drag on Indiana employment in April, according to the Indiana Department of Workforce Development. Overall employment of 2.98 million was down 3,100 from March but up slightly from a year earlier, the agency reported late last week. The agency estimates that the 12-week-old […]

MORGAN COUNTY

May 19, 2008

MORGAN COUNTY Church construction booms There’s no building trades recession in Martinsville or Mooresville where the Lord is concerned. Three churches and a Christian camp all are planning big projects. Church at Mount Gilead plans to build a worship center, vestibule and administrative offices at 6019 E. State Road 144 near Kitchen Road in Mooresville. […]

Dwindling unemployment trust nears crisis point: Fund that once held $1.6 billion may face insolvency

May 19, 2008

Indiana’s Unemployment Insurance Trust Fund is running out of money-fast. It opened this decade with $16.6 billion in assets. By the end of last year, it had dwindled to $302 million. And last month, the Indiana Department of Workforce Development said the balance was just $80 million. Though DWD in early May received $300 million in taxes collected from employers, the infusion is only a shortterm fix. By year’s end, the fund is expected to be short on cash again….

DeBartolo to buy Metropolis from Dominion Capital

May 19, 2008

Tampa, Fla.-based DeBartolo Development has reached a preliminary agreement to buy Plainfield’s Metropolis mall out of foreclosure
and hopes to hook Macy’s and Bass Pro Shops to anchor a second phase.

Test run of commuter rail could be relatively cheap

May 19, 2008

Planners and politicians spent the better part of a decade and untold millions of dollars studying a mass transit system between
downtown and the suburbs. They have little to show for it except mounds of reports and an estimate of $690 million, but the
boys in bib overalls at the Indiana Transportation Museum think they can get it done for much less.

Bloomington firm lands $35M in venture capital

May 14, 2008

Bloomington-based ProCure Treatment Centers Inc. said today that it has received another infusion of $35 million in venture capital. Oklahoma City-based McClendon Venture Company LLC made the investment to help ProCure develop a network of cancer treatment centers across the country. McClendon also gave $35 million to ProCure in December 2006. “I have every reason […]

Home sales slide in April, but inventory shrinks

May 14, 2008

Indianapolis-area home sales slipped in April, and the average price continued falling. But the inventory of houses on the market shrank, offering hope that the downturn might be slowing. Pending sales of houses in the nine-county Indianapolis area fell 14.1 percent, to 2,520 units, from a year earlier, according to the Indianapolis brokerage F.C. Tucker […]

Slower growth cools Noble Roman’s profit

May 14, 2008

Noble Roman’s Inc. reported $321,431 in net profit in the first quarter, less than half the $703,003 it earned a year earlier. The Indianapolis restaurant chain said the decline was caused by slowing growth in co-brand franchises. Under an initiative announced in November, Noble Roman’s is screening potential franchisees more carefully, training new franchisees longer, […]

Work set to start on RCA Dome demolition

May 12, 2008

New traffic and sidewalk restrictions are being put in place near the RCA Dome so that demolition work can begin. Closing two lanes of Capitol Avenue in downtown Indianapolis will allow preliminary work, such as removal of the dome’s signs. City police officials do not expect the new lane restrictions to cause significant traffic troubles. […]

Black history museum loses site, may land on Indiana Ave.

May 12, 2008

The clock is running out on plans to build the Indiana Museum of African American History in White River State Park, but the
ambitious project may find a new home on nearby Indiana Avenue. Less than two weeks before the museum’s option on a two-acre
parcel of park land expires, backers were talking with IUPUI about locating the museum on unspecified university-owned land
along Indiana Avenue.

Ethanol plant formerly owned by Branson is sold

May 8, 2008

A renewable energy company that is building an ethanol plant in Bluffton has agreed to be sold to an Omaha, Neb., ethanol firm. The acquisition of VBV LLC is valued at $383 million, the buyer, Green Plains Renewable Energy Inc., announced late yesterday. VBV is a Delaware company owned by Ireland-based NTR plc and the […]

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