Finish Line claims Genesco 'materia' effect

DJIA 13,211.1 +101.4 / S&P 500 1,461.9 +10.8 / NASDAQ 2,638.8 +20.3 Tonight: Scattered clouds and dry. Low 36. Saturday: Mostly cloudy, shower chance. High 49. Sunday: Partly sunny, cool. High 46.
	Friday, November 16, 2007
	Finish Line claims Genesco 'material' effect Indianapolis-based athletic shoe and clothing retailer The Finish Line Inc. said yesterday that a "material adverse effect" has taken place regarding its acquisition of Genesco Inc.-putting the $15.5 billion deal in jeopardy. Finish Line and its banker, UBS Financial Services, said a material adverse effect would give them the right to terminate the deal. Join the conversation at IBJ's new blog, News Talk.   Berkshire Hathaway raises stake in WellPoint Berkshire Hathaway Inc. has boosted its stake in Indianapolis-based WellPoint Inc. by 7.1 percent, according to Bloomberg. A regulatory filing Nov. 14 showed Berkshire, which is owned by billionaire investor Warren Buffett, now holds 4.5 million shares-still less than 1 percent of the health insurer. In the second quarter, Buffett quadrupled his WellPoint holdings.
	Steak n Shake shares battered after report Grim results in Steak n Shake Co.'s fiscal fourth quarter prompted a sell-off of its stock this morning. Shares in the Indianapolis-based restaurant chain dropped nearly 14 percent before staging a small comeback to trade near $11.65-still 9 percent below yesterday's close. Steak n Shake officials said in a conference call with analysts that they plan to return the company to its roots-hamburgers and milk shakes.   Insurer picks Carmel for regional office, 40 jobs Selective Insurance Co. of America, a property and casualty insurer headquartered in Branchville, N.J., will open a Midwest regional office at 11711 N. Meridian St. in Carmel. The office will employ 40, Indiana Economic Development Corp. said today. The company received no state incentives.   Daniels balks at Midwest energy agreement Five Midwest governors and a Canadian premier signed an agreement yesterday pledging to work together to reduce energy consumption, focus more on renewable energy and limit greenhouse gas emissions. The signing was part of a regional summit on energy and climate change hosted in Milwaukee by the Midwestern Governors Association. Indiana Gov. Mitch Daniels, who did not attend the meeting, agreed with some parts of the pact, but signed the state onto other sections as an observer because he wanted to see how it would work on a regional basis.   Hoosier Park, Indiana Downs planning hotels Indiana's two horse-racing tracks, which plan to add slot machines next year, are considering expansions that could include hotel complexes. Officials from Hoosier Park in Anderson and Indiana Downs in Shelbyville discussed their plans yesterday during a meeting of the Indiana Horse Racing Commission.   BP selling 700 convenience stores BP America Inc. in the next two years plans to sell the roughly 700 convenience stores it owns and operates, potentially displacing nearly 10,000 workers, the Houston-based unit of BP PLC of London said today. The vast majority of BP's 13,000 U.S. convenience stores are independently owned. There are 75 BP convenience stores within 50 miles of downtown Indianapolis, according to a store finder on the company's Web site.   Businessman gets prison term for 'lie' The former president of a company that once treated liquid industrial waste was sentenced yesterday to five years in prison after he was convicted of concealing elevated levels of chemical discharges into the Wabash River. A federal judge also ordered Derrik Hagerman and Terre Haute-based Wabash Environmental Technologies Inc., to pay nearly $238,000 in restitution. Judge David F. Hamilton called the 53-year-old Hagerman's behavior "cold-blooded deception for profit" during a sentencing hearing in U.S. District Court in Indianapolis.
	Lafayette commission OKs Subaru incentives Subaru of Indiana Automotive Inc. is a step closer to getting tax abatements on $105 million in proposed investments in its Lafayette plant. The city's redevelopment commission unanimously approved the incentives last night, but they still must be OK'd by the Lafayette City Council. The Japanese automaker is preparing to assemble 2010 models of its Legacy and Outback cars and ramp up production of Toyota Camrys.   Feds raid 'Liberty Dollar' headquarters Federal agents raided the Evansville headquarters of a group that aims to upset the Federal Reserve by producing "Liberty Dollars," coins made of silver, gold and other metals, and introducing them into circulation. Bernard von NotHaus, founder of the National Organization for the Repeal of the Federal Reserve Act & Internal Revenue Code, told The Associated Press that FBI agents seized two tons of copper and 500 pounds of silver during a raid yesterday. "They're running scared right now and they had to do something," von NotHaus said today in an interview.   From IBJ staff and Associated Press-Compiled by Norm Heikens
	INDOT reopens Super 70 Major construction work on the Super 70 project is done. Crews reopened all the lanes and ramps on Interstate 70 east of downtown at 1:30 a.m., shortly after the midnight deadline. Transportation officials say they're happy with the work. The Indiana Department of Transportation plans to celebrate the reopening with a formal ribbon cutting ceremony at Martin University this afternoon. Fox 59 will have the latest at 10 p.m. Election results to be certified today The Marion County Election Board plans to certify results from last week's election today, validating Greg Ballard's win over Mayor Bart Peterson. Ballard wants to bring the Indianapolis Metropolitan Police Department under control of the mayor's office, but Sheriff Frank Anderson, who oversees the department now, opposes the plan and says the decision should be up to voters. Police look for witnesses after shooting Metro police believe multiple suspects barged into a home on West 10th Street near Tibbs Avenue yesterday afternoon and opened fire, killing 31-year-old Arnold Fitzgerald and hitting Terrance Williams, 27, in the hand. Police are looking for suspects. Indy weighs in among 20 most obese cities According to Forbes.com, Indianapolis is the 12th most-obese city in the United States, with 26 percent of Circle City residents defined as overweight. Memphis, Tenn., tops the list, with Birmingham, Ala.; San Antonio; Riverside/San Bernadino, Calif.; and Detroit rounding out the top five.
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