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Fed unveils bold, open-ended steps to aid economy

The Federal Reserve unleashed a series of bold and open-ended steps Thursday designed to stimulate the economy by boosting the stock market and making it cheaper for people to borrow and spend. Stocks surged after the announcement.

Area home-sale contracts up again in August

Purchase agreements in the nine-county area totaled 2,151 during the month, a 5-percent increase from August 2011. Year-to-date sales are up 14 percent compared with the same time last year.

Men suspected in appliance theft ring

Danville police apprehended two men Wednesday who they say stole about $1,500 in appliances from a foreclosed home and could be part of an even bigger crime ring. Repair shop truck driver Nick King and housing inspector Steven Atkins may be involved in taking hundreds of appliances from dozens of foreclosed homes in the Indianapolis area over the past decade. Detectives also discovered a large marijuana-growing operation in a repair shop owned by King’s father. King and Adkins are being held in the Hendricks County Jail awaiting charges.

Arrest made in Irvington rape

Police arrested a man Thursday in connection with the rape of a 15-year-old girl in Irvington. Donald Wilson, 31, of Indianapolis admitted to raping the girl Saturday morning in South Audubon Road residence. A tip led police to Wilson, who has prior convictions for sex crimes.

Man fatally shot on northeast side

Police are investigating an early-morning shooting death on the northeast side of Indianapolis. The 41-year-old man was shot near Interstate 70 and Shadeland Avenue at about 3:15 a.m. and continued driving several blocks north on Shadeland before pulling over in a hair salon parking lot. He was pronounced dead at the scene.

NW Indiana’s clogged railroads to get $71M upgrade

Northwestern Indiana's congested railroad corridors will see some upgrades with $71 million in federal money to help speed the flow of passenger and freight trains and perhaps help progress on a Chicago-to-Detroit high-speed Amtrak rail route.

Rose-Hulman takes pride in top college ranking

For the 14th year in a row, Rose-Hulman Institute of Technology has been ranked the nation's top undergraduate engineering college. The ranking is a source of pride for the students and a marketing tool for the university.

Millcraft hoping to fill downtown paper-supply void

Millcraft Paper Co. is set to move from the far east side to downtown Indianapolis on Sept. 24 in hopes of filling a void left a few months ago by the closing of Arvey Paper & Office Products.

Finish Line stock falls after analyst’s downgrade

An analyst downgraded The Finish Line Inc.'s stock on Wednesday, saying that the Indianapolis-based sneaker and athletic clothing retailer will likely continue to lose share to rival Foot Locker.

Pence seeks family analyses; Gregg proposes tax credits

Republican gubernatorial candidate Mike Pence gave a hint Wednesday at what social issues he would push for as governor, while Democrat John Gregg called for a new tax credit he claims would help companies return jobs from overseas.

New metropolitan development director named

Adam Thies will succeed Maury Plambeck as director of Indianapolis’ Department of Metropolitan Development, effective Oct. 1. Plambeck will lead a program directing the next RebuildIndy investments into city neighborhoods.