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 DJIA 12,934.7 +191.3 / S&P 500 1,422.8 +15.6 / NASDAQ 2,575.1 +34.1
 |  |  Tonight: Mostly clear, cold. Low 30. Wednesday: Milder, gusty winds. High 51.
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|  Tuesday, November 27, 2007 |
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Genesco shares slide after subpoena
Stock in Tennessee-based Genesco Inc. is down nearly 11 percent today after the mall retailer revealed late yesterday that federal prosecutors had issued it a subpoena. The shares rallied briefly early this morning, and then fell $3.27, to $26.90. The move by the U.S. Attorney's Office for the Southern District of New York suggests the office has launched an investigation into allegations that Genesco hid financial problems before agreeing in June to be acquired by The Finish Line Inc. for $1.5 billion. 
Hilbert: I'm not buying back my house
Former Conseco Inc. CEO Steve Hilbert says he isn't the as-yet-unidentified individual who has reached an agreement to buy the Carmel mansion that he built in the 1990s. "I have people on the street every day say, 'Hey, are you going to buy that home back?' I chuckle and say, 'No. We're happy where we are,'" he said of the smaller Carmel home where his family now lives. IBJ reported yesterday that a sale is pending on the house and is scheduled to close this week.
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Lawrence could gain from Kansas defense cuts
The Defense Finance and Accounting Service in Lawrence is expected to gain some of the more than 600 jobs scheduled to be eliminated from a similar base in Kansas City, Mo., when it closes in August 2008, according to the Kansas City Star . The Kansas City base, which provides accounting for all military branches, is one of 21 such accounting offices that are closing as a result of the 2005 Base Realignment and Closure plan. The plan is intended to save the U.S. Department of Defense billions of dollars. Other workers displaced by the closing could move to Denver or to Columbus, Ohio, the newspaper reported.
OneAmerica signs deal with Japanese insurer
OneAmerica Financial Partners Inc. says it has reached an agreement to provide administration and marketing for a big Japanese insurer that's entering the medical stop-loss market in the U.S. Locally based OneAmerica's agreement with a subsidiary of Nippon Life Insurance Co. takes effect Jan. 1. Medical stop-loss insurance limits losses on self-funded insurance plans. A OneAmerica unit will administer the coverage nationwide and provide marketing only in the state of New York.
Greenwood man gets jail term for embezzlement
William Crouse Jr., 39, of Greenwood, has been sentenced to 57 months in jail after he pleaded guilty to embezzling health care premiums and laundering money through his company, TRG Marketing. The company sold health care coverage through TRG Health Plan. Crouse embezzled more than $1 million of premiums, using about half of it to buy his Greenwood home. Crouse had been indicted by the United States Attorney for the Southern District of Indiana.
Northwest intermodal project derailed
A second railroad has said it isn't interested in building an intermodal facility in LaPorte County in northwestern Indiana. The Canadian National Railway expressed its lack of interest this week, according to the Post-Tribune of Merrillville. Last week, CSX Corp. announced it would build an intermodal site in northwestern Ohio and would not pursue one in LaPorte County, the newspaper reported. The setbacks prompted county commissioners yesterday to say they no longer will spend tax dollars pursuing the project.
Sliding RV sales could presage recession
Shipments of recreational vehicles are on track this year to fall for the first time since 2001, when the last recession ended, and the downturn is prompting experts to wonder if another recession could be on the way, according to Bloomberg. Recessions in the early 1980s, early 1990s and 2001 each were preceded by two years of declining RV sales.
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Notre Dame included in usury lawsuit
A Boston-area developer has sued the University of Notre Dame and several other universities and foundations, claiming they violated a Massachusetts law that forbids charging interest rates greater than 20 percent. Notre Dame - along with Harvard, Yale and Princeton universities, among others - invested in Realty Financial Partners, an entity that made $16.7 million in loans to developer Fred Fahey to build a golf course community near Boston. Realty Financial Partners, headquartered in Wellesley, Mass., loaned $6.7 million of the $16.7 million at a 42-percent interest rate, according to Bloomberg.
Orthopedic maker adding site in Plymouth
Cspine Inc., a startup orthopedic and dental device maker based in Plymouth, plans to launch research and development and prototype manufacturing operations in the northern Indiana town, the Indiana Economic Development Corp. said today. Plymouth is near Warsaw, a hotbed of orthopedics manufacturing. |  | | | |
| Lottery vs. local ad firms
The Hoosier Lottery has rejected all bids for the creative part of its advertising account. Most of the bidders were local, and the agencies involved are miffed that they were passed over. In her Dear John letter to the companies, Executive Director Kathryn Densborn said none of the bidders could offer "all the capabilities the Hoosier Lottery was seeking in connection with its overall marketing program and strategy." Is the lottery underestimating the capabilities of the local ad community or wisely saving taxpayer dollars? Join the conversation at IBJ's new blog, News Talk.
Correction
A story in the Nov. 19 IBJ Daily on the acquisition of Louisville-based J.J.B. Hilliard W.L. Lyons Inc. should have said the firm has 14 Indiana offices.
From IBJ staff and Associated Press-Compiled by Norm Heikens
Child's death investigated as homicide
Metro police found a 3-year-old girl unresponsive, with signs of abuse, this morning after an incomplete 911 call made from Phoenix Apartments, 4004 Meadows Drive on the northeast side. Police say she was covered with bruises and cigarette burns, and was rushed to a hospital, where she was pronounced dead. No arrests have been made, but police are questioning her mother's fianc?. The child's foster mother says the girl was in foster care from birth until late October. Fox 59 will have the latest at 10 p.m.
FOP members to elect new president
It's Election Day for the Indianapolis Fraternal Order of Police. Aaron Sullivan is stepping down after one year as president. His successor will be Vince Huber or Bill Owensby. The winner will preside over the FOP as Mayor-elect Greg Ballard pushes for control of the Metro Police Department.
Media tour airport construction progress
The $1.1 billion, 1.2-million-square foot midfield terminal project at Indianapolis International Airport, the largest development project in Indianapolis history, is scheduled to open in a year. This afternoon, airport officials have scheduled a media tour of the main passenger terminal, parking garage and new fire station. For a peek at the project, tune in to Fox 59 News at 10 p.m.
Ritter's sets new game plan
RFC Franchising LLP, the parent of Ritter's Frozen Custard, is planning big changes to counter a surge of new ice-cream competitors and a dwindling lineup of franchisees.
Big season for Indians' stockholders
The Indianapolis Indians are rewarding stockholders in the franchise following a season in which revenue and profit grew, thanks to significant increases in ticket, concession and merchandise sales.
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What kind of holiday party, if any, does your company have these days? 
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