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Stocks slump as concerns about economy grow
The Dow Jones industrial average sank 265 points on Tuesday and all three major stock indexes fell more than 2 percent as investors reacted to more signs of weakness in the U.S. economy and poor earnings from several big companies.
Duke turns second-quarter profit on higher revenue
Duke Energy Corp., which is buying Progress Energy Inc. to become the largest U.S. utility owner, on Tuesday reported a second-quarter profit after a year-ago loss.
Obama signs debt bill after final Senate vote
The Senate emphatically passed emergency legislation Tuesday to avoid a first-ever government default, rushing the legislation to President Barack Obama for his signature just hours before the deadline.
City hosting Beep Baseball World Series
The National Beep Baseball Association is playing its 36th annual World Series this week at the Mary and John Geisse Soccer Complex in Eagle Creek Park in Indianapolis. The 17 participating teams from the United States and Taiwan are made up of blind and visually impaired players. Beep baseball uses a ball that makes a beeping noise so it can be heard by players. To keep the game fair, every player wears a blindfold. The championship game will be played Aug. 6.
Hostage taker dies in police standoff
After an hour-long standoff, police shot and killed a man who was holding a hostage at gunpoint Monday afternoon in Bloomington. Robert North, 50, died shortly after he was shot in the neck. North held a woman in a headlock with a gun pointed at her head and walked her along Rogers Street. He continued to keep her at gunpoint near the pumps at a Sunoco gas station and refused to obey orders to put his gun down. The hostage was not injured.
Man gets 46 years in confinement case
A Madison County judge on Monday sentenced a man to 46 years in prison for exploiting a woman who was locked in a room by three people who lived off her Social Security checks. Louis Amalfitano, 21, was sentenced on the eight felony counts that a jury convicted him of in June. Prosecutors say Amalfitano, his father and girlfriend kept then-65-year-old Anna Turner of Anderson confined for months, beating her and forcing her to sleep on a urine-soaked mattress while they cashed her checks.
NFL-Versus deal would be huge score for IndyCar
The NFL is in talks with Versus to bring a package of early season Thursday night games to the cable station, possibly as early as 2012. That move would seriously legitimize Versus’ attempts to rival ESPN.
Not-for-profit building affordable housing in Brownsburg
Sycamore Services Inc., which serves people with disabilities, has closed on $8 million in financing to build a 72-unit apartment community in Brownsburg.
Retail roundup: Agio closes, Mesh developing burger joint
One restaurant along Mass Ave has closed and a new one is in the works, leading off the latest Around Town Retail Roundup.
Republic Airways blames fuel costs for $15M quarterly loss
The Indianapolis-based company said it spent nearly $227 million on aircraft fuel in the quarter, compared with $161 million in the same period a year earlier.
Packaging manufacturer plans to expand, add 80 jobs
Indianapolis-based DGP Intelsius LLC, a manufacturer and distributor of temperature-controlled packaging, announced on Tuesday morning that it plans to add 80 jobs by 2014 as part of an $870,000 expansion.
Environmental groups sue to block I-69 construction
Citizens for Appropriate Rural Roads and the I-69 Accountability Project said the road expansion would violate federal environmental laws.
Debt deal would have little impact on economy until 2014
The deal reached by Congress to raise the debt ceiling and cut more than $2 trillion in public spending should have only a minor impact on the economy for the next two years. Almost all the cuts would be made in 2014 or beyond.
Indiana asks court to lift Planned Parenthood order
Indiana asked a federal appeals court Monday to lift a judge's order blocking parts of a new abortion law that cuts some public Planned Parenthood funding, saying the issue should be decided by Medicaid officials and not the courts.
Trial starts in nanny’s suit against Pacers owner
A nanny who worked for Indiana Pacers owner Herb Simon and his wife testified in a wrongful-firing case Monday that the couple knew of her tumultuous life, but decided to keep her on their staff.
Residential
On a seasonally adjusted basis, the pace of mortgage loan applications fell 5 percent for the week ended July 22, according to the Mortgage Bankers Association. The rate for 30-year mortgages increased to 4.57 percent from 4.54 percent the previous week. The rate for 15-year mortgages increased to 3.67 percent from 3.66 percent.
Construction
-Kort Builders has completed a 2,800-square-foot office build-out for Civil & Environmental Consultants Inc. at The Maxwell, 530 E. Ohio St.
-Kort Builders has completed a 2,991-square-foot office build-out for Netsurance at 6980 Hillsdale Court.
-Kort Builders has completed a 7,544-square-foot retail space for Cash America at 2428 E. 38th St.
People
–Gabrielle Gonzalez has joined J.C. Hart Co. Inc. as vice president/director of property and asset management.
–Andrea Hopper has joined Summit Realty Group’s industrial advisory team.
Leases/leasing contracts
-Hibachi Grill leased 11,200 square feet at Greenwood Place at U.S. 31 and Shelby Street. The tenant was represented by Jodi Milto of Midland Atlantic. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Living Word Fellowship Inc. leased 10,350 square feet of office space at KeithLynn Business Complex, 8641 E 30th St. The tenant and landlord, KeithLynn Properties, were represented by Tammy Kelly of Re/Max Ability Plus Commercial.
-Hope Source leased 6,993 square feet at 7745 E. 86th St. The tenant was represented by Matt Jackson of Ambrose Property Group. The landlord, East 88th Street Partnership LLC, was represented by John Demaree and Matt Waggoner of Summit Realty Group.
-WorkOne leased 6,002 square feet of retail space at Plainfield Village, 160 Plainfield Village Drive, Plainfield. The tenant was represented by Shannon Hicks of CB Richard Ellis. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Sutliff Construction leased 5,200 square feet of industrial space at 1440 Sunday Drive. The tenant and landlord, Schoolcraft LLC, were represented by Mike Medlock and Rick Jones of Lee & Associates.
-M&I Bank renewed its lease for 3,500 square feet at North Willow Mall, 2260 W 86th St. The landlord, Township 86th Development Co. LP, was represented by Keith Fried of Sitehawk Retail Real Estate. The tenant represented itself.
-Massage Envy leased 3,200 square feet of retail space at Fishers Corner, 11680 Commercial Drive, Fishers. The tenant was represented by Tracey Holtzman of Midland Atlantic. The landlord, Sena Properties, was represented by Jacque Haynes of Cassidy Turley.
-SalonCentric leased 2,800 square feet of retail space at Washington Corner, 9912-9994 E. Washington St. The tenant was represented by Larry Davis of Sitehawk Retail Real Estate. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent.
-Hearthstone Coffee House leased 2,800 square feet of retail space at Fishers Town Commons, 8211 and 8235 E. 116th St., Fishers. The tenant was represented by Bob Roby of Prudential. The landlord, The Broadbent Co., was represented by Brian Broadbent.
-Brookshire Management, Inc., dba Carefree WorldTravel, leased 2,482 square feet of office space at 8650 Commerce Park Place. The tenant was represented by Chris Carmen and Nick Carmen of Carmen Commercial Real Estate. The landlord, Dhillon Commerce Park LLC, was represented by Darrin Boyd and Dave Moore of Cassidy Turley.
-King Laundry leased 1,842 square feet at Greenwood Shoppes, U.S. 31 and Fry Road, Greenwood. The landlord, The Broadbent Co., was represented by Jeff Roberts of Broadbent. The tenant represented itself.
-J&K Tire leased 1,800 square feet of retail space at 3806 S. Madison Ave. The landlord, Armtrust LLC IV, was represented by Ron Mannon of Lee & Associates. The tenant represented itself.
-Happy Dragon Asian Carry Out leased 1,635 square feet of retail space at Fishers Corner, 11670 Commercial Drive, Fishers. The landlord, Sena Properties, was represented by Jacque Haynes of Cassidy Turley. The tenant represented itself.
-Amy’s PJs leased 1,400 square feet of retail space at Clearwater Shoppes, 3809-3981 E. 82nd St. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.
-Pounds and Inches Away leased 1,200 square feet of retail space at Castleton Shoppes, 6024-6066 E. 82nd St. The landlord, The Broadbent Co., was represented by John Beuoy of Broadbent. The tenant represented itself.
-Law Office of Mark A. Reder leased 1,021 square feet of office space at 870 Virginia Ave. The landlord, the Leone Family Living Trust, was represented by Sandra Jarvis of IndySQUARED Commercial Real Estate. The tenant represented itself.