Business and the Economy

11:31am

Tue October 4, 2011
Business and the Economy

Galls of Lexington Sold

A New York-based private investment firm announced Monday it has bought public safety equipment provider Galls with an eye toward acquiring smaller firms in its industry and folding them into the Lexington-based company's operations. CI Capital Partners acquired Galls for an undisclosed sum from food service and uniform company Aramark.

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11:27am

Tue October 4, 2011
Business and the Economy

Despite Rain, Farmers See Losses

Despite having near record rains this year, farmers say crops are showing signs of stress typically seen during droughts. "This has been a bizarre season," said Joe Boggs, with Ohio State University's Hamilton County Extension office. "We had a lot of wetness in spring and then mid-season the faucet shut off and then we had extreme hot temperatures with wind, which is like a hairdryer."

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10:01am

Tue October 4, 2011
Business and the Economy

Poor Ky. Economy Could Jeopardize Workplace Safety

These tight economic times could tempt some companies to cut back on workplace safety. Kentucky Labor Secretary Mark Brown says that may mean spending less such things as protective equipment and training sessions. Brown understands business concerns but insists there’s no substitute for safety.

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7:25am

Tue October 4, 2011
Business and the Economy

Lawmaker Hopeful About KY. Kingdom Reopening

A Kentucky lawmaker whose district includes the shuttered Kentucky Kingdom amusement park says he’s optimistic the state fair board will find an operator for the facility. State Representative Jim Wayne says he was surprised to hear that negotiations with developer Ed Hart to reopen the park fell through last week. Fair board president Harold Workman says the board was unable to come to an agreement with Hart on where certain revenue streams would be steered.

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4:16pm

Mon October 3, 2011
Business and the Economy

Tempur-Pedic Expands Headquarters

Despite a stalled economic recovery and shaky consumer spending, one Lexington company is expanding its global headquarters. Their products may be meant to put you to sleep, but the CEO of Tempur-Pedic says his company is doing anything but lying down. 

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4:06pm

Mon October 3, 2011
Business and the Economy

Pickets Organize Outside Kentucky Banks

Protesters have set up in downtown Lexington and are promising to stay in place until there is real reform in the banking industry.  This afternoon, about a dozen picketers remained outside the Chase J.P. Morgan offices on Main Street.  If necessary, spokesman Greg Capillo says they’re prepared to stay. “As long as the will is here to stay here indefinitely, then we’ll be here indefinitely, and we’ll cross the winter bridge when we get to it.  But, we’re not going to be the only people dealing with that,” said Capillo.

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1:43pm

Mon October 3, 2011
Business and the Economy

Louisville Finalizes 4th Street Plan

Louisville’s Downtown Development Corporation could finalize a plan to bring more retail to south 4th Street this week.  The plan was first introduced last month. It outlines how the DDC can bring in new anchor businesses to the area between Broadway and Muhammad Ali Boulevard, then fill the areas in between with smaller shops.

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1:25pm

Mon October 3, 2011
Business and the Economy

Simpson Co. Firm Expands, Creates 25 Jobs

Danafilms Inc. will add a new produce line and invest just over $12 million in its Simpson County plant. The German-owned company will nearly double the size of its Franklin workforce, creating 25 new jobs as a result of the expansion.

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1:03pm

Mon October 3, 2011
Business and the Economy

Louisville Orchestra Musicians Vote on New Contract

The musicians of the Louisville Orchestra are voting today on a contract for the current and upcoming seasons.  The musicians and management have been at odds over the contract for months, and the impasse has resulted in the cancellation of three months of concerts. The management had previously pushed for a tiered system, with musicians signing contracts for 10, 20 or 30 weeks. The musicians countered with a proposal to cut the number of full-time players from 71 to 60 and the season length from 37 to 35 weeks.

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9:36am

Mon October 3, 2011
Business and the Economy

No. KY. Manufacturers Want More Grads

Manufacturers in Northern Kentucky say they need more graduates from the Center for Advanced Manufacturing at Gateway Community & Technical College. Slightly more than a year after Gateway opened the $28.5 million building on its campus off Mount Zion Road, it's producing about 115 manufacturing technology graduates a year, but even Gateway officials acknowledge that local manufacturers probably need 300 or more every year.

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2:50pm

Sun October 2, 2011
Business and the Economy

Officials Fight Off KCTCS in Scott County

Scott County officials are increasing the intensity of their efforts to encourage the Kentucky Community and Technical College System to keep a high priority on building an advanced manufacturing training facility in Georgetown. "What we fear is its priority-funding status is slipping, relative to other projects around the state," Scott County Magistrate Tom Prather said. The Georgetown project stands in 11th place on the KCTCS priority funding list. It once ranked as high as fifth, according to Mark Manuel, Bluegrass Community and Technical College's vice president for workforce and institutional development.

1:02pm

Fri September 30, 2011
Business and the Economy

Casey Company to Add New Line, New Jobs

Casey County's Tarter Farm and Ranch Equipment is partnering with an Italian farm equipment manufacturer to begin making and distributing some of the Italian company’s products in the United States. In July, Tarter added 75 new jobs and looks to add another 50. The company already employs more than 600 in Casey County.

10:47am

Thu September 29, 2011
Business and the Economy

Questions Follow LEX Motivation Seminar

When Elbert Ray showed up at the Get Motivated seminar in Rupp Arena on Wednesday, he expected his ticket to cost $1.95, the number he saw on the numerous ads leading up to the big event. But that $1.95 was for advance sale tickets only; as the smaller print said on those ads, it was $225 at the door.

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5:21pm

Wed September 28, 2011
Business and the Economy

Less Building, More Training in Airport's Future

As the Bluegrass Airport makes plans for the future, they’re not thinking about construction.  Instead, they see themselves as possibly enhancing their training program.  Partly in preparation for the World Equestrian Games, the Lexington airport underwent a 66 million dollar improvement program.  It included the construction of a new general aviation runway and a renovated airport terminal.  As they write up new plans for the airport, executive director Eric Frankl says further expansion is not in the cards.

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1:21pm

Wed September 28, 2011
Business and the Economy

WKU Speaker is Hopeful for Future Economy

When speaking about the economy, Jim Glassman has a trace of optimism in his voice. That’s because the economist believes the market will rebound, albeit very slowly. Glassman, managing director and senior economist for JPMorgan Chase & Co., spoke Tuesday at Western Kentucky University to bank executives, attorneys, students and other community members about his take on the nation’s economic woes. While he’s confident the economy will improve, he admits it will not be an easy recovery. The recession was both difficult and unusual, and the United States is still suffering.

1:15pm

Wed September 28, 2011
Business and the Economy

Postal Workers, Retirees Rally Against Proposed Cuts

U.S. Postal Service employees John Groves of Alvaton and Debbie Warder of Horse Cave stand Tuesday at the Warren County Justice Center during the national day of action on behalf of postal workers.
Alex Slitz Bowling Green Daily News

Lee Taylor, a U.S. Postal Service clerk from Beaver Dam, stood Tuesday outside the Warren County Justice Center. She came with two purposes: to make her voice heard and to make others aware of why the Postal Service is vital to the country. Taylor joined several other current Postal Service employees as well as retirees as part of a national day of action on behalf of postal workers.

10:16am

Wed September 28, 2011
Business and the Economy

Lawmaker Opposes Proposed Sports Complex Loan

State Rep. Ben Waide won’t provide legislative sponsorship to allocate coal severance tax funds to pay off a proposed $3 million loan for the Hopkins County Sports Complex. The decision likely will delay development of the complex, which Fiscal Court hoped to open for use in 2013. “It was tough because I think the project would be a very nice addition to our community,” Waide said, “but in the end I had to look at the economic impact and make a decision.” The freshman lawmaker casts doubt on estimates that peg the project’s annual economic impact at $1.5 million and discounts its potential to create jobs.

10:14am

Wed September 28, 2011
Business and the Economy

Henry, Trimble Counties Receive Grant for Animal Shelter

The approval of a state grant for $150,000 for the animal shelter proposed jointly by the fiscal courts of both Trimble and Henry counties has put the project on the fast track toward completion within three months. Trimble and Henry counties were recently awarded a $150,000 grant through the Animal Control Advisory Board, a division of the Kentucky Department of Agriculture.

9:57am

Wed September 28, 2011
Business and the Economy

Alcohol Sales Prompt Changes at State Park

Groups using General Butler State Resort Park facilities will notice new policies in place on bringing their own alcohol to the convention center and golf course. These changes come as the park begins selling alcohol under a license granted in August. With this, individuals are no longer allowed to bring their own beer, wine or liquor to the golf course or convention center, a state spokesman said.

6:28am

Wed September 28, 2011
Business and the Economy

Lexington Tax Revenues Up

Lexington city officials are seeing higher revenues than they expected.  Still, the city’s mayor advises don’t read too much into those figures. Revenue in the first two months of this fiscal year are one-point-three million dollars higher than expected.   City Revenue Director Bill Omara says Lexington businesses seem to be making more money and, as a result, are paying more taxes.

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1:30pm

Tue September 27, 2011
Business and the Economy

Tiffany & Co. Opens Lexington Factory

LEXINGTON – Gov. Steve Beshear and first lady Jane Beshear Tuesday joined Tiffany & Co. Chairman and CEO Michael J. Kowalski and Lexington Mayor Jim Gray to celebrate the grand opening of the company’s new jewelry manufacturing center in Lexington. Community leaders and guests were invited to breakfast at Tiffany to commence the opening, which is creating 125 jobs in the community.

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1:13pm

Tue September 27, 2011
Business and the Economy

Children in Poverty still a Kentucky Problem

An advocacy group is calling for legislators to take action in Frankfort to alleviate an increasing poverty rate among Kentucky children. One in four children in Kentucky lives in poverty, according to new statistics released by Kentucky Youth Advocates. Statewide, 262,760 children - 26.3 percent - live in families with incomes less than $22,050 a year for a family of four.

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10:35am

Tue September 27, 2011
Business and the Economy

Maysville Factory Laying Off 30

Emerson Power Transmission Solutions in Maysville is laying off 30 employees. The company told the workers earlier this month, noting it's a continuation of plans announced in January to consolidate operations in the city.

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10:22am

Mon September 26, 2011
Business and the Economy

Fayette Sheriff's Office Could Save Money

As Lexington's Urban County Council continues to explore the broad issue of best management practices for the Fayette County Detention Center, interim jail director Ray Sabbatine says moving some duties to the Sheriff's office could save the city money.

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4:46pm

Fri September 23, 2011
Business and the Economy

Stability Contributes to Strong Keeneland Sale

As Keeneland heads into the final day of its annual September Yearling Sale, the thoroughbred auction company is looking at gross receipts in excess of $220 million, up at least 12 percent from last year. By day eight of the 13-day auction, Keeneland had already surpassed the gross receipts of last year. Keeneland spokeswoman Amy Gregory attributes that to a stabilizing thoroughbred market and growing buyer confidence.

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10:51am

Fri September 23, 2011
Business and the Economy

Gas Station Drive-Offs Continue

Gas-and-go service has taken on a negative connotation as some gas customers, without an old fashion attendant to pump for them, simply fill up and leave the station without paying. Other than the occasional forgetful driver, who usually returns red-faced, within minutes, fuel stations across the region have been experiencing continued drive-off gas thefts that are costly and often unsolved, Maysville area station operators said. In Maysville, the former Shell station on Second Street is often a prime target for theft, police officials said.

10:48am

Fri September 23, 2011
Business and the Economy

Census Data Shows Kentucky Economy Looking Bleak

New data from the U.S. Census Bureau on Thursday painted a bleak picture of Kentucky's economic health. Household income is down. Poverty is up. Low-paying jobs are replacing higher-paying jobs. Use of food stamps and publicly funded health care is up. Median household income fell in Kentucky in 2010 from the previous year by $778 and the share of the state's households that earn annual incomes between $10,000 and $25,000 is increasing, according to the data.

10:41am

Fri September 23, 2011
Business and the Economy

Declining Revenue Driving Post Office Closures

Technology has delivered a blow to postal delivery in recent years, resulting in a decrease in first class mail customers. That was the message delivered Thursday night to residents of Dover during a town hall meeting about the local post office being targeted for a feasibility study to determine if it will be closed. United States Postal Service District Discontinuance Coordinator Bob Redden cited declining numbers of first class mail moving through the USPS by businesses, reduced walk-in traffic, and declining revenues due to online bill payments, as reasons for the study to the crowd of approximately 50 people who filled the Dover Baptist Church.

7:00am

Fri September 23, 2011
Business and the Economy

Ky Youth Poverty Rising Faster Than Adults

Child poverty in Jefferson County is increasing more quickly than Kentucky’s adult poverty rate and all areas of the state are contributing to some of the highest child poverty rates in the nation. Kentucky Youth Advocates (KYA) released information it compiled using data from the U.S. Census’ American Community Survey. The data shows Jefferson County’s youth poverty rate is still under the state-average, which is currently 26.3 percent. But it’s creeping up and being just shy of the state-average is not good enough, said Terry Brooks, executive director of Kentucky Youth Advocates.

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1:09pm

Thu September 22, 2011
Business and the Economy

Income Gap Wider in Northern Kentucky

The gap in household income between whites and African-Americans is wider in Greater Cincinnati and Northern Kentucky than it is across the United States as a whole. New U.S. Census Bureau estimates released today show that the local median household income for blacks locally in 2010 was $29,705 compared to $55,277 for whites only (not including white Hispanics).

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