THE TICKER

MERGER DEADLINE: Today's deadline to close a merger agreementbetween OmniBanc Corp. of Detroit and Chicago-based Indecorp Inc. isexpected to expire, officially cancelling the $35 million deal tocreate the nation's first interstate, African-American-owned bank.OmniBanc last year offered $35 million for Indecorp. Under the deal,Omnibanc officials had pledged to establish a $120 million fund toinvest in inner-city Chicago neighborhoods. But OmniBanc lowered itsoffer for Indecorp last month, claiming higher interest rates hadreduced Indecorp's value. Negotiations have stalled, and bothparties say an 11th-hour reprieve is unlikely. UP WINS: Western rail giant Union Pacific won operational control ofa key railroad linking it to the Chicago railyards and markets in theEast. The Interstate Commerce Commission approved UP's petition toconvert its 29.5 percent stake in the Chicago & North WesternTransportation Co. from non-voting to voting shares. Union Pacificwill also get three seats on an expanded CNW board, giving it controlof the unit. LATE SHOPPERS: With half the holiday shopping season gone, shoppersappear to be postponing their shopping to the last minute. Sales inspecialty stores in the nation's malls have risen 4.1 percent fromNov. 25 through Sunday, compared with a 5.7 percent increase for thesame period a year ago, said the International Council of ShoppingCenters. SPIEGEL DIVES: Spiegel Inc. stock fell sharply in heavy tradingTuesday after the retailer said it expected disappointingfourth-quarter results. The stock fell $1.56 or 13.6 percent toclose at $9.87 on Nasdaq. On Monday, Spiegel said fourth-quarterearnings will fall below expectations because sales were hurt byunseasonably warm weather and more competition. The late arrival ofwinter hindered sales of outerwear, said the Downers Grove-basedcompany.