Business and the Economy

6:50am

Fri October 7, 2011
Business and the Economy

Breeders Adapt to New Market Realities

ANNUAL NORTH AMERICAN REGISTERED FOAL CROP.
The Jockey Club

When the final hammer went down at Keeneland's September yearling sale, almost 3,000 horses had sold, 500 fewer than last year.  However, they sold for over $233-million, which represents an increase of almost 13%.  Plus, the average value of each horse was up 18%. "I've farmed 45 years. We raise tobacco and horse operation. We grow our own hay, our own bedding. We board horses and my brother and I have horses together. We're farmers that love horses,” said horse breeder Frank Penn.

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1:24pm

Wed October 5, 2011
Business and the Economy

Louisville's Boys and Girls Clubs Unsure of Merger

Michael Hawley
Louisville Public Media

Louisville’s four Salvation Army Boys and Girls Clubs will close this month and it remains uncertain if and when a merger with Kentuckiana Boys and Girls Clubs will happen.  It’s hopeful that clubs will reopen by year’s end, said Michael Hawley (pictured), the Salvation Army’s Louisville area commander.

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12:56pm

Wed October 5, 2011
Business and the Economy

Kentucky Power Chief: Rates Going Up, EPA to Blame

Greg Pauley’s message to Kentucky Power customers these days is simple — your electric bill is likely going up and the Environmental Protection Agency is to blame. The COO and president of Kentucky Power, Pauley delivered the message to a crowd at Pikeville's Landmark Inn on Monday, as a part of a series of visits throughout the company’s service area to explain to customers the challenges the company is facing.

10:31am

Wed October 5, 2011
Business and the Economy

Oak Grove Alcohol Ordinance to Help Developing City

The ordinance passed by the Oak Grove City Council on Sept. 20 allowing the sale or service of alcohol at convention centers, conference centers and sports arenas was praised as a means of revenue for the city and also forward-looking as the city grows and develops.

10:26am

Wed October 5, 2011
Business and the Economy

Fire Destroys Murray Popcorn Company's Headquarters

Crews battle a fire at Ellis Popcorn in Murray. Smoke rises above the building early Tuesday morning.
Greg Travis Murray Ledger & Times

An early-morning fire Tuesday reportedly damaged much of the Ellis Popcorn building in Murray. According to at least one offical, the building may be a total loss. The state fire marshal has been contacted, and an investigation will continue, it was reported. The cause of the fire has not been determined.

10:16am

Wed October 5, 2011
Business and the Economy

Lexington Racetrack to Sell Land for Student Housing

Drivers at The Red Mile worked their horses on the backstretch, where an apartment complex already exists. The Red Mile plans to sell 10 acres including its Tattersalls sales pavilion to create more housing aimed toward university students.
Charles Bertram Lexington Herald-Leader

Lexington's Red Mile's Standardbred racetrack has a contract to sell 10 acres facing South Broadway, including the former Tattersalls sales pavilion, where a developer plans a major student housing project. Hallmark Campus Communities of Columbus, Ohio, proposes to build an 832-bed project with four four-story buildings, a swimming pool, a pool house with an exercise center, and outdoor volleyball and basketball courts.

10:12am

Wed October 5, 2011
Business and the Economy

Six Harlan Post Offices May Close

Lloyd Fleenor goes to the Lejunior Post Office every day to get his mail. He is opposed to the postal service's plans to close the office. Fleenor believes that the closing would have a negative impact on people in the community.
Anders Eld Harlan Daily Enterprise

In recent weeks, the United States Postal Service has posted proposals of possible closing at six post offices in Harlan County. At the offices in Big Laurel, Closplint, Cranks, Lejunior, Putney and Totz there are now three-page documents hanging in the lobby detailing the reasons for the proposed closing. Public meetings where representatives from the postal service were available to answer questions and provide information have been held at Putney and Totz. But more meetings will be held in the next few weeks.

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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