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Orders to U.S. factories for big-ticket manufactured goods rose sharply for a second straight month in May, and a key indicator of business investment surged by the largest amount in nearly five years. The Commerce Department said today that demand for durable goods rose 1.8 percent last month, far better than the 0.6-percent decline that […]

Budget hotel chain Red Roof Inn Inc. has defaulted on $361.4 million of mortgage debt, a rating agency that tracks mortgage defaults said yesterday.The hotel chain fell 30 days delinquent on four securitized loans for which the collateral was 131 Red Roof properties, said Frank A. Innaurato, managing director of Realpoint LLC, a debt rating […]

First-time homebuyers continued to help buoy sales of previously occupied homes in the Midwest last month but not enough to offset continued concern over the unstable economy, according to two reports released yesterday. Overall sales in the Midwest fell 8.5 percent from a year ago, the National Association of Realtors said, and the median sales […]

Indiana House and Senate fiscal leaders are set to begin serious negotiations on a new state budget. Senate Republicans passed their version of a budget yesterday, setting the stage for House-Senate conference committee negotiations to begin during a public meeting scheduled for this morning. House Ways and Means Chairman William Crawford says he hopes the […]

Republic Airways Holdings said today it will buy struggling Midwest Airlines for $31 million in cash and debt, the second time in two days it has sought to rescue an ailing airline. Yesterday, Republic said it would bid $108.8 million to take Frontier Airlines out of bankruptcy. Republic Chairman and CEO Bryan Bedford said he […]

Kokomo Mayor Greg Goodnight will travel to Italy next month for meetings with executives of Fiat Group, which now controls Chrysler and its four factories in his city. A city spokesman said Goodnight expects two days of meetings with Fiat executives and hopes to meet with other businesses during the trip July 12-18. Chrysler had […]

The Indiana Senate has approved legislation that would keep state government running if lawmakers don’t enact a new budget by the time the current spending plan expires at the end of the month. The bill approved today would allow the administration of Republican Gov. Mitch Daniels to continue spending at current levels if the new […]

Republicans who control the Indiana Senate are poised to pass their version of a new state budget bill. The two-year spending plan cleared the amendment stage yesterday and was eligible for passage today. Passage would set up a showdown with the Democrat-led House on trying to strike a deal before Indiana’s current spending plan expires […]