Michigan National Corp. was inadvertently omitted from American Banker's March 10 listing of the largest originators of automated clearing house payments. The Farmington Hills-based company originated 6.2 million debit items and 8.66 million credit items in 1997. Its total of 14,863,438 was 5% higher than that of the previous year. Michigan National should have ranked 30th, with each originator below it on the list dropping one place.
Hypercom Corp. says a Monday article on page 24 gave a false impression of its plans for its network systems group. A sale of the group is at most a remote option, "as would be the case for any business facing this situation," says CFO Thomas Linnen. "However, we are not considering, nor have we ever considered, an outright sale of the unit," he said.
The article also reported that sales in the Asian markets will only be $4 million in the two quarters through June 30. It should have stated that sales in the network systems business in Asia will be $4 million for the entire fiscal year.