The State of Indiana says it will borrow from the federal government to help meet unemployment insurance commitments. The Indiana Department of Workforce Development has sent a letter from Governor Mitch Daniels to U.S. Secretary of Labor Elaine Chao requesting an advance to help replenish the state's Unemployment Insurance Trust Fund. Unemployment benefits have exceeded the amount employers pay into the fund leaving it with a current balance of $21 million.
Old National to purchase Charter One
Evansville-based Old National Bancorp (NYSE: ONB) is purchasing 65 Charter One bank branches in Indiana. Old National will pay approximately $15.9 million to current Charter One owner Citizens Financial Group. Old National President and Chief Executive Officer Bob Jones says the deal further solidifies the company as the largest Indiana-based bank. It will increase Old National's presence in Fort Wayne, Lafayette, Bloomington and Anderson.
Indiana campground named National Park of The Year
Lake Rudolph Campground & RV Resort in Santa Claus has been named National RV Park of the Year by the National Association of RV Parks & Campgrounds. It is the second time Lake Rudolph has won the honor for the large park category. Lake Rudolph officials say it is the highest possible honor in the industry and is based on several factors including national directory ratings, park promotions and community service.
Indiana crop yields better than expected
Purdue University's Crop Performance Program Director Phil DeVillez says despite the challenges this year, "yields are much better than anticipated." He makes the comments as crop growers gain access to the 2008 variety trial yield results for corn and soybeans tested in Indiana. Purdue researchers tested 240 corn hybrids at 12 sites and about 200 soybean hybrids at nine sites. DeVillez says the best thing farmers can do when contemplating varieties is compare this year's data to last year's.
Mishawaka firm to acquire mortgage-related technology
Mishawaka-based DataVision Inc. is preparing to purchase a Canadian developer of technologies for mortgage lenders. DataVision has entered into a nonbinding letter of intent with Most Home Corp. for the operating assets of its subsidiary, Netupdate Inc. A definitive purchase agreement is expected in early January. The acquisition is expected to cost at least $500,000. DataVision Inc. is a provider of full-service data capture, data integration and data engineering solutions.
Health care providers settle illegal hiring case
Twenty-three Indiana health care providers have agreed to pay more than $435,000 to settle charges for hiring individuals excluded from the Medicaid program. Federal rules prohibit employers from allowing employees who have been convicted of certain crimes and others not properly licensed to perform Medicaid-reimbursed services. The government maintains a database of people excluded from Medicaid that providers can compare with their employee rosters.
Holiday gift card sales could hit $40 billion
A Purdue University retail expert believes sales of gift cards this holiday season could reach between $35 and $40 billion. Purdue Retail Institute Researcher Richard Feinberg is anticipating a significant increase in cards for grocery stores, gas stations and superstores such as Wal-mart and Costco because of the economy. He says the institute's research indicates most cards are redeemed after Christmas and New Year's, which means the cards can't be included in retail holiday sales figures.
Indiana-built Civic goes Hollywood
A Civic from Greensburg's new Honda plant may become the "next item up for bids." Plant officials say an Indiana-built Honda Civic will be featured as a prize on CBS-TV's The Price is Right. They believe it is the first time the game show has offered a non-domestic car as a prize.
