Economy to be jittery, Fifth Third strategist says

DJIA 14,075.6 +59 / S&P 500 1,562 +7.6 / NASDAQ 2,803.6 +31.6 Tonight: Clearing, chilly. Low 40. Sunday: Early chance of showers, milder. High 72. Saturday: Mostly sunny. High 68.
	Friday, October 12, 2007
	Economy to be jittery, Fifth Third strategist says The U.S. economy probably has avoided the likelihood it will slip into recession, a Fifth Third Bank strategist said today. But in 2008, investors face an uncertain environment where the fastest action will be found overseas. "In general, the fears of recession have now diminished," the bank's Chief Investment Strategist John Augustine said this morning. "[But] it's going to be a jittery year." Augustine gave that prediction at IBJ's 2008 Economic Forecast breakfast at the Marriott Hotel downtown.   DCL Medical Laboratories sold to St. Louis firm Central Indiana's fifth-largest life science firm is changing hands. Contract researcher DCL Medical Laboratories today announced its acquisition by St. Louis-based private equity firm Thompson Street Capital Partners. Terms were not disclosed. Founded in 1983 and located at 9550 Zionsville Road, DCL has 209 employees. Specializing in women's health, DCL provides diagnostic testing, clinical testing and other laboratory services for physician practices, hospitals, extended care facilities, pharmaceutical companies and other clinical trial sponsors.
	Zimmer, Biomet ensnared in corruption probe Warsaw orthopedics makers Zimmer Holdings Inc. and Biomet Inc. disclosed this week that the U.S. Securities and Exchange Commission is investigating possible violations of the Foreign Corrupt Practices Act. The investigations involve activities in multiple countries, the companies disclosed in regulatory filings yesterday and today. They both said they are cooperating with the probes.   IU chief says more research space needed Indiana University's president told state lawmakers that the school will need more research space to reach its full potential-but he doesn't expect the General Assembly to pay for it all. Michael McRobbie told the Indiana State Budget Committee yesterday that IU needs an additional 5 million square feet of research space. "That's 12 buildings the size of this one," McRobbie said inside Indiana Memorial Union.   Finish Line bankers extend time to buy Genesco The Finish Line Inc. said today that its lenders have extended by four months their deadline for the Indianapolis athletic shoe and clothing retailer to buy Genesco Inc. The deadline was Dec. 31; it is now April 30. Finish Line and Nashville, Tenn.-based Genesco are locked in a court battle over whether Finish Line is obligated to consummate the $1.5 billion acquisition it agreed to in June.   Lilly's Byetta bedeviling Novo Nordisk Many analysts are recommending that investors hold off on buying stock in Novo Nordisk because rival Eli Lilly and Co. might have a smash hit with a version of its Byetta diabetes treatment that would be taken only once a week. Nineteen of the 34 analysts who follow the Danish insulin maker have "hold" or "sell" recommendations, according to Bloomberg. The analysts say Novo Nordisk shares are too expensive, considering that the shares are priced at 22.7 times earnings compared to the 17.7-percent ratio of the Bloomberg Europe Pharmaceutical Index.   Ball State economist's Wal-Mart book controversial A book about Wal-Mart Stores Inc. authored by Michael Hicks, the new director of Ball State University's Bureau of Business Research, hasn't always been received well by people who don't like the retail giant, Hicks told The Star Press of Muncie. Hicks, who writes a weekly column that appears in IBJ and other newspapers around the state, said his research for "The Local Economic Impact of Wal-Mart" showed that counties with Wal-Marts have more jobs and a few more small businesses that can be attributed to the presence of the sprawling stores than counties that have no Wal-Mart.
	Realtors in NW Indiana agree to combat racism A group of real estate agents is taking a stand against racism in northwestern Indiana at a time when housing-discrimination complaints nationally are rising. The action by the Greater Northwest Indiana Association of Realtors comes a year after complaints that one real estate agent had played on prejudices when she suggested to some Merrillville homeowners that they consider selling their homes by incorrectly saying the area might become part of Gary. The group pledged Oct. 10 that its 2,800 members will provide equal opportunity to all persons in the sale or purchase of a home.   Indiana's fall colors late as tourism time nears Sunny weather might have kept most of Indiana's leaves from changing on time this fall, but cooler temperatures this week could trigger the annual color show. Brown County in southern Indiana, a popular destination for colors-viewing tourists, is probably a couple of weeks behind schedule. The Parke County Covered Bridge Festival starts today, but visitors to the western Indiana county will only see a scattering of yellow tree tops.   From IBJ staff and Associated Press-Compiled by Norm Heikens
	Funeral arrangements set for fallen Shelbyville officer The Shelbyville Police Department has released funeral information for Sgt. Gary Henderson, who was killed Wednesday night by two wheels that separated from a passing semi trailer truck. He died while conducting an investigation along I-74. Viewing will be Sunday from 2 to 8 p.m. and the funeral will be Monday at 11 a.m.-both at Shelbyville High School Auditorium. Fox 59 will have more at 10 p.m. Four people hurt in morning fire Four people were taken to a hospital after an early morning fire in the 3400 block of East Stop 11 Road in Perry Township. A candle started the fire when it was accidentally knocked over in the front room. The injuries are not life-threatening. Marion County gets ready for elections Today the Marion County Clerk's Office will run a public test of ballots and voting machines to help ensure all issues are worked out by November's election. The election board is training county-wide inspectors through the end of the month. The botched May primary caused serious concerns about how the county clerk's office was handling the voting process. Annexation letters sent to Geist residents Residents of 22 Geist-area subdivisions will receive official notice of Fishers' annexation plans today. Town officials are sending letters to each property owner in the three proposed annexation territories. The letters provide a legal description of the territory to be annexed and a map showing the current and proposed boundaries of Fishers. Visit IBJ's Web site, www.ibj.com Indianapolis Business Journal has launched a redesigned Web site with news updated throughout the business day. At www.ibj.com you will find the latest business news from the Indianapolis area and around the state, video of IBJ events, CEO interviews from the Inside IBJ radio program, and our weekly podcast.
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