Business and the Economy

1:32pm

Tue August 2, 2011
Business and the Economy

Problems Between Boyle, Mercer Red Cross

Changes in the operation of the American Red Cross have led to the dissolution of the Boyle County chapter director position and prompted the chapter board to take matters into its own hands. In a letter received by The Advocate-Messenger, Emanual Gray, board chairman of the Danville-based Central Kentucky chapter of the Red Cross, which serves Boyle and Mercer counties, detailed what he said are troubling financial and administrative changes over the past several years.

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10:41am

Tue August 2, 2011
Business and the Economy

Fleming Hospital Looks For New Leadership

Fleming County Hospital officials are taking the next step toward hiring a full-time chief executive officer as the hospital board is set to interview candidates. It has been six months since former CEO Davie Lloyd resigned from her position in efforts to "pursue other career interests." Effective upon Lloyd's resignation, interim-CEO Joyce Hein took the position and the responsibility that came with it, and has since been working with the hospital board to cut losses totaling more than $3 million.

12:30pm

Mon August 1, 2011
Business and the Economy

Refunds go to 31 KY Coal Counties

A healthy year for coal companies is an economic boon for many Kentucky counties.  Higher than expected mining permit and acreage fees this year means nearly three dozen counties will share more than 612-thousand dollars in state refunds. Breathitt County gets almost 47-thousand. Judge Executive Jason Richardson already has plans for the money.

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10:57am

Mon August 1, 2011
Business and the Economy

Developers Cancel Museum Plaza

The proposed Museum Plaza project in downtown Louisville has been canceled. The tower at 6th and Main streets would’ve been the tallest building in Kentucky. It was put on hold three years ago when the developers could not find a suitable bond deal to finance the project. Hope for the $490 million project was renewed last yearwhen city and state officials announced their intention to seek a $100 million loan from the U.S. Department of Housing and Urban Development. The loan required the developers to find matching funds in the private sector, which they could not.

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6:52am

Mon August 1, 2011
Business and the Economy

LEX/LOU Rail Line in Jeopardy

Plans for a possible rail line connecting Louisville, Lexington and Frankfort are moving forward, but that progress could soon stop. The man behind the concept is leaving his job. Executive director of the Kentucky Capital Development Corporation Ralph Tharp first released his plans for the line earlier this year. But his contract with the corporation will not be renewed. Tharp says he has the support of mayors along the route and he will continue to work on the project until his contract expires in October.

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10:01am

Sun July 31, 2011
Business and the Economy

Coping with Religious Hospital Mergers

Later this month, officials with University of Louisville Hospital, Jewish Hospital and Catholic Health Initiatives will address a General Assembly committee on the hospitals’ pending merger.  The principals were called before state lawmakers over concerns that reproductive and end-of-life services will be changed once the Catholic Health Initiatives owns a majority of the other facilities. CHI will have a 70 percent share of University Hospital and the doctors will follow Catholic health directives.

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9:56am

Sun July 31, 2011
Business and the Economy

Celebrating 50 Years of Candymaking

Jennifer Seagraves, owner of Mom Blakeman's, enjoys Friday's 50th anniversary of the Lancaster candy business.
Clay Jackson The Advocate Messenger

For something that melts rather quickly, Mom Blakeman's Creamed Pull Candy has showed remarkable staying power. "It is really still the best kept secret anywhere," said Pam Williams, who runs the store and the company's day-to-day operations. "It's also one of the most unique candies anywhere." The secret was out Friday as those responsible for maintaining the legacy of Lancaster's buttery smooth signature confection celebrated the product's 50th birthday with a packed party at the current store where the candy is now made and sold.

9:51am

Fri July 29, 2011
Business and the Economy

Jobless Rates Down in the Past Year

Unemployment rates fell in 96 Kentucky counties between June 2010 and June 2011, while 19 county rates increased and five counties remained the same, according to the Kentucky Office of Employment and Training. Woodford County recorded the lowest jobless rate in the Commonwealth at 7.4 percent while Jackson County had the highest rate at 16.8 percent.

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3:39pm

Thu July 28, 2011
Business and the Economy

Hiring Near for State Fair

Hiring will begin early next month for about 275 temporary jobs at the Kentucky State Fair.The positions include maintenance and housekeeping staff, admission gate keepers, tour guides and tram drivers. Wages begin at $7.25 an hour. Hiring begins Monday, August 8 and continues through the fair’s ten-day run, which begins on August 18. Application must be made in person.

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1:09pm

Wed July 27, 2011
Business and the Economy

Wood Waste Fuel Efficient and Cheap

Boyle County has a new way to dispose of wood waste from both industries and individuals that should save the county money while helping power a Campbellsville company. Boyle Fiscal Court approved an agreement Tuesday with Cox Interiors Inc., a business that mills interior doors and windows, under which the company will chip and haul untreated wood to be used as fuel.

1:02pm

Wed July 27, 2011
Business and the Economy

Energy Efficient Farms Split Funds

The state Wednesday announced the awarding of $773,447 in On-Farm Energy Efficiency & Production Incentives grants. The program is a partnership between the Governor’s Office of Agricultural Policy and Kentucky’s Department for Energy Development & Independence with funding from the American Recovery & Reinvestment Act through the U.S. Department of Energy.

10:18am

Wed July 27, 2011
Business and the Economy

Marion County Gets Grant for Senior Center

Gov. Steve Beshear Wednesday announced a $500,000 Community Development Block Grant to the city of Loretto in Marion County to help renovate a city-owned, former nursing home facility to a new senior citizen’s center.

10:10am

Wed July 27, 2011
Business and the Economy

Post Office Considers Closing Locations

The U.S. Postal Service is considering close more than 10 percent of its retail locations nationwide. That means the post office will study the closing of more than 3,600 local offices, branches and stations for possible closing. Several dozen are in Kentucky.

2:44pm

Tue July 26, 2011
Business and the Economy

Looking for a Colonel of Truth

Kentucky Fried Chicken is looking for your Colonel Sanders stories. Photos, videos, and anecdotes - all relating to KFC's iconic founder - will be collected at ColonelSanders.com. Friends and family say there's more to the colonel the famous image that's printed on KFC restaurant signs and chicken buckets across the world. The goateed entrepreneur was born in 1890 and went from rags to riches, founding the world's largest chicken restaurant chain. Now the company is eager to introduce him to a new generation.

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1:45pm

Tue July 26, 2011
Business and the Economy

Concerns Voiced on Post Office Closings

The U.S. Postal Service released a list Tuesday of 3,653 post offices that could be closed, including three in Louisville. But local civil rights leaders are concerned about one of the sites being reviewed because it serves as the only retail store in the city’s West End.  Thousand of offices are being studied for possible closure because of “lower foot traffic and revenue,” as the financially troubled agency continues to find ways to cut costs.  In fiscal year 2010, the Postal Service suffered a $8.5 billion net loss and posted a loss of $2.2 billion in the last quarter, according to CNN.

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1:40pm

Tue July 26, 2011
Business and the Economy

KY Forums Focus on Job Growth

Today marks the beginning of a series of public meetings organized by Kentucky's Cabinet for Economic Development to be held across the state.  The meetings will focus on a hot topic in Kentucky and across the nation: job growth and investment. The idea is to identify emerging business sectors - and gather citizen input on how best to position those businesses for success. Holly Spade, director of the Office of Legal Services for the Cabinet, says the list of forums could grow longer.

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10:22am

Tue July 26, 2011
Business and the Economy

Toyota Production Down this Year

Toyota Motor Corp. announced Monday that its production dropped 23.3 percent worldwide in the first six months of 2011. Company officials say the March 11 earthquake and tsunami severely affected the parts supply, leading to production slowdowns. The supply issue remains a concern at some North American and Japanese plants. But in Georgetown, Toyota Motor Manufacturing, Kentucky has been running at 100 percent production since June.

2:59pm

Mon July 25, 2011
Business and the Economy

Lexington Ranked Top "Value City"

Lexington may be Men's Health magazine's most sedentary city, but it's also the sixth best "value" city. That's according to Kiplinger magazine. In the newly published list, the business and finance magazine ranks Lexington number six in what it calls its ten best value cities.

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2:57pm

Mon July 25, 2011
Business and the Economy

Lexington Property Values Hold Steady

While Lexington is still feeling the effects of the housing downturn, a new report issued by the Fayette County Property Valuation Administrator's office shows the city weathering the storm better than many. The report compiled by Fayette County PVA David O'Neill shows Lexington property values remaining relatively stable, despite a steady decline in home sales for the past five years. O'Neill says, while not immune to the downturn, the city's housing market hasn't seen the kind of fluctuations other cities have.

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9:46am

Mon July 25, 2011
Business and the Economy

Census Measures Shifts in Housing Market

The percentage of people renting a place to live went up far more in Kentucky than those buying a home between 2000 and 2010, according to U.S. Census data. The downturn in jobs during the recession and tighter credit were key reasons, several real estate agents said. Statewide, the percentage of people renting their residence was 16 percent higher than in 2000, while the percentage of owner-occupied housing was up just 5 percent.

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10:14am

Fri July 22, 2011
Business and the Economy

Beaver Dam Business Creates New Jobs

Community leaders and officials from Dynamic Fabrication in Beaver Dam announced Thursday the company will expand its Ohio County operation. The full-service steel fabrication facility, which currently serves the mining industry, will branch out to new industries as a result of the expansion – creating 22 new jobs and a $957,000 investment.

1:54pm

Thu July 21, 2011
Business and the Economy

Power Plant to Lay Off Workers

Aaron Sink
Mark Grayson Levisa Lazer

Big Sandy Power plant manager Aaron Sink told Southeast Kentucky Chamber of Commerce members Tuesday that his company will be forced to shut down half of the facility's production of electricity by 2014 and lay off nearly 100 of its 120 employees if changes are not made in the U.S. Environmental Protection Agency's new standards.

1:31pm

Thu July 21, 2011
Business and the Economy

Uncertain Future for Aviation Center

The Kentucky Institute for Aerospace Education may have to move to Southern Indiana if an agreement to build a 12,000-square-foot facility at Frankfort's Capital City Airport falls through. Tim Smith, a teacher at Frankfort High School and chief executive officer of the nonprofit organization, says he’s got a lease in hand for use of a hangar at the airport – but no signature. The deal was contingent upon a corporate entity signing on to occupy a second hangar, but no one bid on the project. That’s hindering the group’s fundraising chances for the project, he said, and it could force the institute to move to another airport.

1:20pm

Thu July 21, 2011
Business and the Economy

United Auto Workers Prepare Negotiations

Mike Hathaway installs Corvette windshield seals and tops Tuesday at the Bowling Green Assembly Plant.
Miranda Penderson Bowling Green Daily News

By all accounts, next week could be a watershed for automakers and the United Auto Workers when contract negotiations begin. The UAW will be negotiating with the nation’s Big Three automakers, including General Motors, which builds Chevrolet Corvettes at its Bowling Green Assembly Plant. GM and Chrysler were facing bankruptcy and Ford was saddled with debt during contract negotiations in 2009. All three were struggling to survive and many concessions were made by the unions just so workers would have jobs. But the landscape has changed.

10:44am

Thu July 21, 2011
Business and the Economy

New Airport CEO to Boost Services

Newly named CEO Candace McGraw believes airlines will boost air service at the beleaguered airport. "We are poised for great things here at CVG," she said on Wednesday as the Kenton County Airport Board unanimously voted to appoint her to replace former c
The Kentucky Enquirer

Newly named Cincinnati/Northern Kentucky International Airport chief executive Candace McGraw believes airlines – those currently serving the region as well as those that might be lured here – will boost air service at the beleaguered airport. “We are poised for great things here at CVG,” she said on Wednesday as the Kenton County Airport Board unanimously voted to appoint her to replace former chief executive John Mok, who abruptly submitted his resignation this week.

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10:17am

Thu July 21, 2011
Business and the Economy

Funding Increases for LexArts

A more than $28,000 grant from the Kentucky Arts Council is the largest award LexArts has received from the state agency in a few years. The arts council recently announced its funding allotments to 100 non-profit groups across Kentucky.

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2:05pm

Wed July 20, 2011
Business and the Economy

Ark Park's Effect on Taxpayers

Proposed park layout and design
Grant County News

What will the cost of the Ark Encounter be for Grant County? To date, the project, which is estimated to bring more than 900 full and part-time jobs to the community, has cost a little bit of money, a 100-acre piece of property, some cooperation and a lot of time.

1:52pm

Wed July 20, 2011
Business and the Economy

Microsoft Pumps Millions into Appalachia

Microsoft is spending two million dollars in Kentucky and twelve other states in order to boost job training programs.  The economy nationwide is still reeling from the economic downturn, but prolonged joblessness is nothing new to the Appalachian region. That’s why Microsoft announced its divvying up two million dollars to non profits from Pennsylvania to Mississippi. Company Vice President Fred Humphries says providing new computer software is vital to uplifting the economy throughout the region.

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1:50pm

Wed July 20, 2011
Business and the Economy

The Ark Park is Moving

Ark Encounter
Grant County News

The Ark Encounter project is moving. Even though no dirt has been moved since the $150 million Grant County project was announced in November, there’s been much activity, mostly getting agreements signed, property purchased and data gathered. The project, which will involve a full-scale wooden replica of Noah’s Ark, as well as a bird sanctuary, a biblical village and animal shows, is on track for a ground breaking ceremony in late summer.

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10:09am

Wed July 20, 2011
Business and the Economy

Industries Expand in Henderson

Gov. Steve Beshear, left, his wife, Jane, and Henderson Mayor Steve Austin talk during the governor's visit to Henderson Tuesday.
The Gleaner

In a sweltering airplane hangar, Gov. Steve Beshear on Tuesday afternoon delivered refreshing news: Three Henderson industries intend to create up to 47 new jobs and invest more than $4 million here. “It’s a further indication that we are on the right track,” Beshear said, commending the “vibrant companies and smart entrepreneurs that are determined to not just survive the recession, but thrive and grow.”

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