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Dow Jones industrial average closes at record

The Dow Jones industrial average closed at a record Tuesday, beating the previous high it set in October 2007, before the financial crisis and the Great Recession.

Billionaires Cook, Simon see bump in net worth

Gayle Cook, the widow of Cook Group Inc. founder Bill Cook, and Herb imon, the owner of the Indiana Pacers, were two of the four Hoosiers to make Forbes’ annual list of the world's billionaires.

Baldwin move a win for Lauth, a setback for downtown

The departure of trucking and auto fleet insurer Baldwin & Lyons Inc. from downtown's Landmark Center to The Congressional in Carmel is a blow for the central business district and a bonanza for Lauth Property Group.

Engineering executive named Rose-Hulman leader

An engineering executive with experience in the classroom has been named president of Rose-Hulman Institute of Technology. The school's Board of Trustees appointed James C. Conwell its 15th president Monday.

Indiana casts eye toward more defense spending

State officials have started an effort to attract more military spending to Indiana even though the Defense Department is facing billions of dollars in automatic federal budget cuts.

Federal cuts to hit Indiana jobless, National Guard

Indiana agencies are cutting jobless benefits, furloughing National Guard members and losing food funds for the Women Infants and Children program because of the automatic federal budget cuts, officials said Monday.

Construction

BC Dominguez Group LLC has been selected by the Muncie Housing Authority as construction manager for the redevelopment of the 87,000-square-foot Unity Center-Heekin Park Project in Muncie.

Residential

The average rate for 30-year mortgages fell from 3.80 percent to 3.73 percent in the week ended Feb. 27, according to Bankrate.com. The rate for 15-year mortgages fell to 2.96 percent from 3.02 percent.

Leases/leasing contracts

-Ice Miller renewed its lease for 127,883 square feet at OneAmerica Tower at Ohio and Illinois streets. The landlord, OneAmerica Financial Partners, was represented by Jon Owens and Russ Van Til of Cassidy Turley. The tenant represented itself.

-ABC Supply Co. leased 84,600 square feet at Shadeland Commerce Center, 2900 N. Shadeland Ave. The tenant was represented by Tom Cooler of CBRE. The landlord, First Industrial Realty Trust Inc., was represented by Brian Seitz, Steve Schwegman, Brian Buschuk and Jake Sturman of Jones Lang LaSalle.

-Xylem Water Solutions Indiana LLC renewed its lease for 17,850 square feet of industrial space at 7615 W. New York Street. The tenant was represented by Terry Busch of CBRE. The landlord, Hydraserve Properties Inc., was represented by Glenn Davis and Dannetta Hiatt of Colliers International.

-A Contact Electric Rentals leased 12,454 square feet of industrial space in Robbins Park, 8811 Robbins Road. The tenant was represented by Tiffany Inglert of Coldwell Banker. The landlord, Owens Development LLC, was represented by Bill Brennan of Lee & Associates.

-Reliable Oil Equipment Inc. leased 9,750 square feet of industrial space at Victory Business Park, 5460 Victory Drive. The tenant was represented by Dustin Looper of Colliers International. The landlord, Victory Business Park Center, was represented by Debbie Mann of Mann Properties.

-Camptown Inc. leased 5,480 square feet of industrial space at 7998 Georgetown Road. The tenant was represented by Bart Book of Cassidy Turley. The landlord, Duke Realty Corp., was represented by Kate Willen Ems of Duke Realty.

-Staples Contract & Commercial leased 4,568 square feet of office space at 8909 Purdue Road. The tenant was represented by Yumi Prater of Colliers International. The landlord, Wells Real Estate Funds, was represented by Andrew Martin and Mike Semler of Cassidy Turley.

-Wired Communications leased 2,400 square feet of industrial space at 8710 8768 E. 33rd St. The tenant was represented by Todd Vannatta and Michael Weishaar of Cassidy Turley. The landlord, First Industrial Realty Trust, was represented by Brian Buschuk of Jones Lang LaSalle.

-Winthrop Investment Group LLC leased 2,330 square feet of office space at 20 E. 91st St. The tenant was represented by Jay Gehl of Hokanson Cos. Inc. The landlord, Sourwine Real Estate Services, was represented by Andrew Martin and Bennett Williams of Cassidy Turley.

-Computer Aided Technology renewed its lease for 2,200 square feet of office space at The Precedent Office Park, 9225 Priority Way West Drive. The landlord, Pace-Keystone Associates LLC, was represented by Kim Hartman of Colliers International. The tenant represented itself.

-Menchie’s leased 1,459 square feet of retail space in Glendale Town Center, 6101 N. Keystone Ave. The tenant was represented by Bart Jackson and Scot Courtney of Lee & Associates. The landlord, KRG Glendale LLC, was represented by Blake Beaver of Kite Realty Group.

-Phillip Eugene Holder and Josephine Holder leased 1,000 square feet of industrial space at 4180 N. Elmhurst Drive. The landlord, Carl Weedman Family Trust & Frank T. Kilby Trust, was represented by Bill Byram of Cassidy Turley. The tenant represented itself.

-B B Miller Inc. renewed its lease for 902 square feet of office space at Hamilton Crossing, 12800 N. Meridian St., Carmel. The tenant was represented by Tom Osborne of Colliers International. The landlord, Duke Realty Limited Partnership, was represented by Adam Seger of Duke Realty.

Sales/acquisitions

-Shiloh Properties LLC bought a 7,165-square-foot office building at 9955 Crosspoint Blvd. The seller, Lurton Wood LLC, was represented by Paul Dick and Kevin Dick of Colliers International. The buyer represented itself.

-Kirklees Apartments LLC bought a six-unit apartment property at 617-625 E. 38th St. The buyer was represented by Scott Herider of Lee & Associates. The seller, Empire TFI Indy Holdings LLC, was represented by Bob Lindgren and Ron Mannon of Lee & Associates.

Indy hospitals healthy despite sequester

While rural hospitals face sharp reductions in their operating incomes, most of the four major hospital systems based in Indianapolis will see only a marginal impact on their finances.

Crane workers face furloughs due to budget cuts

More than 4,000 civilian employees at the Crane Naval Surface Warfare Center will face 22 weeks of furloughs beginning next month under automatic federal budget cuts that took effect Friday.

Baldwin to move HQ to Carmel, add 133 jobs

Trucking and auto fleet insurer Baldwin & Lyons Inc. plans to move its headquarters from downtown Indianapolis to Carmel by the end of the year and hopes to add 133 jobs over the next five years, the company announced Monday afternoon.

Senate advances telemedicine payments

The Indiana Senate voted unanimously last week to require the Indiana Medicaid program to pay home health agencies, rural health clinics and federally qualified health centers for doing medical consultations, diagnoses and monitoring using videoconferencing, telephones or computers.

Man injured in overnight fire

An overnight house fire in the 300 block of South Holmes Avenue on the near-west side of Indianapolis left a man hospitalized with serious injuries. Two other people living inside the home and two living inside a converted garage escaped without injuries. Police are investigating a cause for the blaze, which broke out about 3:30 a.m.

Man, woman shot at gas station

A man and a woman were in stable condition early Monday after a shooting incident at a west-side Indianapolis gas station. Police said they found a male with a gunshot wound to the head inside a car several blocks from the Speedway Gas Station near West 34th Street and Lafayette Road. The woman was found at the station with a wound to the shoulder. The shootings took place about 2:15 a.m.

People

Elizabeth Simpkin has been named president of the accountable care consortium formed in October by Community Health Network, St. Vincent Health and six hospitals within the Suburban Health Organization. Simpkin previously was senior vice president of the consulting practice at Valence Health in Chicago. She holds a master’s degree in health care economics from Arizona State University and a bachelor’s degree from Bradley University.

Dr. James Callahan, the former chief of neurosurgery at Indiana University Health Methodist Hospital, has joined Community Physician Network and is now working at Community Hospital Anderson. Callahan, who was formerly part of the neurosurgery practice of Goodman Campbell Brain and Spine, earned his medical degree at the Indiana University School of Medicine.

Dr. Kay Eigenbrod, an OB-GYN, has joined St. Vincent Medical Group in Indianapolis. She was chief of obstetrics and gynecology at St. Vincent Frankfurt Hospital. Eigenbrod holds a bachelor’s degree from Purdue University and a medical degree from the University of Illinois College of Medicine.