Farmland value gaining (08/16/2008)

Northeast Indiana experienced smaller farmland value gains compared to the rest of the state in 2008.

While the average value of the region rose about 10 to 12.1 percent on average, the area lagged behind the state which saw an increase of 13.5 to 15 percent.

Prices rose about 25 to 30 percent during 2007, so the area could be seeing a drop off after a strong 2007 year. The region stretches from Steuben County to Randolph County, including Jay County.

The study was conducted by Purdue University.

The estimated value is $4,142 per acre for farmland in the region.

D.C. Challenge

Winners were announced in the First Bank of Berne's "Trek to D.C." Challenge this week.

The challenge, set up to encourage employees to walk more, tracked mileage in an effort for each team to walk the distance from Berne to the front steps of the White House in Washington D.C.

Four teams of 21 employees tackled the challenge, with all teams logging more than million steps in 12 weeks.

The winning team, including members Deb Stewart, Pat Brickley, Becky Schwartz and Rod Lautzenheiser, received a trophy for their efforts.

Corn conditions

The U.S. Department of Agriculture announced that the Midwest has experience "nearly ideal" weather conditions for farmers.

The USDA raised its corn production estimates in lieu of the good weather which has helped farmers recover from the flooding earlier in the year.

A strong recovery could lead to lower prices for many Indiana staples such as corn, soybeans and wheat.

CVS buyout

CVS Caremark Corp. has announced the purchase of Longs Drug Stores Corp. in a $2.9 billion deal.

Longs, which operates more than 500 stores in the Southwest and Hawaii, will be absorbed into the growing CVS. CVS will assume $200 million in debt from Longs, but will provide the company with extended reach into untapped markets.

CVS operates stores in Dunkirk and Portland.

Comcast embraces action

Comcast Corp. will be teaming up with video company Metro-Goldwyn-Mayer Inc. to offer a video-on-demand channel featuring shows and movies from the action genre.

Comcast and MGM will bring the new station, "Impact," to TVs soon, featuring about 200 action titles per year.

MGM controls rights to several popular action film series including James Bond and Rocky.

Comcast provides cable service for the Jay County area.

Waste offer increases

Waste Management has increased an offer to buy out competitor Republic Services.

The offer rose another 9 percent to $6.73 billion as Waste Management seeks to slice out its No. 3 competitor in the garbage industry.

An earlier offer was rejected by Republic.

Waste Management has attempted to buyout Republic, the No. 3 largest firm and competitor before Republic can merge with the No. 2 waste company, Allied Waste Industries Inc.

Forecast increase

Wal-Mart Stores Inc. raised its projected earnings forecast Thursday after second-quarters numbers proved stronger than anticipated.

Although War-Mart is predicting slower sales growth during the current period, the company is expecting overall higher gains for the year.

Total earnings during the second quarter soared 17 percent to $3.45 billion ending July 31.

Newspaper layoffs

The Star Press, Muncie, announced two layoffs from its 125 members staff Thursday.

The layoffs come as part about 600 job cuts from newspaper conglomerate Gannett Company, which owns The Star Press and more than 80 other publications.[[In-content Ad]]