Franklin sues former cops FRANKLIN (AP) — The city of Franklin and a former police officer have filed dueling lawsuits. The town sued to recoup the $10,000 it said it paid for training Bryan Croft. Town attorneys say Croft signed a contract in which he agreed to work for the city for three years, but left after two. Croft filed a countersuit in which he claims he was denied overtime pay and other compensation and was under duress when he signed the contract. He’s seeking more than $5,000 in back pay from his time with the department, from January 2009 to December 2010. Croft is currently a Concord police officer. Paul Fitzgerald, Franklin’s attorney, tells The Concord Monitor (http://bit.ly/oYBGeJ) that Croft’s suit is an attempt to get the city to drop its suit filed in April.
THE LACONIA DAILY SUN, Tuesday, August 2, 2011— Page 3
Concerns about the economy end early Dow rally NEW YORK (AP) — Leave it to the economy to stop a debt-deal rally. The Dow Jones industrial average started the day up nearly 140 points after President Barack Obama and congressional leaders said Sunday that a deal had been reached to raise the nation’s borrowing limit and avoid a possible debt default. The House of Representatives approved the bill Monday evening after the markets closed. But another sign that the economy has slowed erased those early gains and took the Dow down as many as 145 points by midday. The Dow ended the day with a loss of 10.75 points. It was the seventh day of declines for the blue-chip index. Many investors remained concerned about the direction of the economy. A report from the Institute of Supply Management said that U.S. manufacturing barely grew last month. And on Friday, the gov-
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ernment said that so far this year the economy has grown at its slowest pace since the recession ended in June 2009. The manufacturing index was the first major economic report released in July. Analysts had expected it to show that the economy was expanding. “This was a shock to the market,” said Phil Orlando, chief strategist at Federated Investors. “It clearly offset the emotional strength that we saw in the open from this tentative budget compromise.” Federal Reserve Chairman Ben Bernanke and many economists have said that the U.S. economy would gain momentum in the second half of the year. But the manufacturing report, sluggish overall growth and concern about spending cuts included in the debt deal have cast doubt on that prediction. The Dow fell 0.1 percent, to 12,132.49. The broader Standard and Poor’s 500 index lost 5.34, or 0.4 persee STOCKS page 13
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