Retail sales increase

Energized shoppers pushed sales at the nation’s retailers up by 0.4 percent in November, the best showing in three months. Sales of furniture and home furnishings posted the biggest gain in nearly two years.

The solid advance came after retail sales fell by 1.5 percent in September and edged up by just 0.1 percent in October, the Commerce Department reported Thursday.

November’s sales increase was the largest since August and matched analysts’ expectations. Thursday’s report reinforced the belief among economists that consumers – the lifeblood of the economy — will continue to spend at a sufficient pace to prevent the economy from sliding into a new recession.

Above, holiday shoppers fill the halls Thursday at Willowbrook Mall in Houston.

Insurance

Blue Cross president plans to retire in June

The president and chief executive of Topeka-based Blue Cross and Blue Shield of Kansas will retire June 1.

John W. Knack informed board members and employees of the state’s largest health insurer of his decision Thursday. No replacement for Knack has been named, but board members said they were considering the process they’ll use to select the company’s next leader.

Knack, 58, said his decision to retire was “keeping with plans my family and I set for ourselves several years ago.” Knack took over as the company’s president and CEO in 1997. He’s been with the company since 1971.

Indianapolis-based Anthem Blue Cross and Blue Shield is trying to purchase the company, but Kathleen Sebelius, insurance commissioner and current governor-elect, opposed the sale. The case is tied up in the Kansas Supreme Court.

Banking

Intrust Financial Corp. to take company private

Wichita-based Intrust Financial Corp. will begin the process of converting the company from a publicly traded firm to a privately owned company.

The deal, which is expected to be completed during the first quarter of 2003, will remove the shares from the OTC Bulletin board, where they currently trade. The deal is expected to reduce the number of shareholders in the company to less than 300, which will allow the company to be exempt from Security and Exchange Commission filings.

Shareholders owning fewer than 1,000 shares of common stock will be offered $152 a share to sell all of their stock back to the company. Shareholders owning more than 1,000 shares will continue to hold their shares.

Intrust operates two banking locations in Lawrence.