News money 2008-07-14 Andanh.com

Specialty coffee maker is brewing success Sun, 13 Jul 2008 22:30:00 EST
Ileene Seward of Henderson, Nev., isn't normally a heavy coffee drinker. She surprised herself, though, after tasting European Coffeehouse Blend a few weeks ago from a Waukesha, Wis., hotel room's four-cup coffee pot.

If you can't give raises, try other rewards Sun, 13 Jul 2008 22:30:00 EST
Many small business owners are finding themselves in painful conversations with employees these days, chats that start with "Boss, I'm really strapped for cash -- I need a raise." But many companies are themselves hurting, and an owner may need to look for a way to help a staffer that doesn't involve money.

re: Brian Hand, network analyst Sun, 13 Jul 2008 22:31:00 EST
My job is: "Network operations support for Yum Brands -- KFC, Pizza Hut and Taco Bell, Long John Silver's and A&W Restaurants. This includes domestic and international restaurant support centers, domestic field offices and corporate and franchisee stores.

Monster.com founder turns to obituaries Sun, 13 Jul 2008 22:32:00 EST
Fourteen years ago, Jeff Taylor helped set off a tectonic shift in recruitment advertising by founding Monster.com, one of the first online companies to challenge a big profit source for newspapers.

More bosses help workers quit smoking Sun, 13 Jul 2008 22:32:00 EST
For the first time, free or reduced-cost smoking cessation strategies are available from a growing number of companies.

Business People Sun, 13 Jul 2008 22:14:00 EST
Financial services, health care, real estate and professional service announcements are in today's Business People. Submit new items at courier-journal.com/businesspeople Sign up for the daily Business People newsletter at courier-journal.com/newsletters.

Bank poll: Business confidence fell sharply Sun, 13 Jul 2008 22:33:00 EST
National City's Business Confidence Index fell 2.6 percentage points from 60.4 to an all-time low of 57.8 as attitude deteriorated sharply in June, according to a company news release.

Practical jokesters say pranks a lot Sun, 13 Jul 2008 22:34:00 EST
Most who've worked in an office can say they've either terrorized their colleagues with pranks or been the victim of at least one hoax. Now, all the victims in the corporate world can get their revenge.

Anheuser-Busch being sold to InBev for $52B Mon, 14 Jul 2008 12:41 EDT
The maker of the King of Beers has agreed to go to work for the Belgian brewer InBev SA. Anheuser Busch Cos. said early Monday it had agreed to a sweetened $52 billion takeover bid from InBev, creating the world's largest brewer and heading off what was shaping up as an acrimonious fight for the maker of Budweiser and Bud Light beers. Inbev brands include Stella Artois, Beck's and Bass.

The deal, which would also create the third-largest consumer product company, will be called Anheuser-Busch InBev.

The Anheuser-Busch board accepted the higher takeover offer Sunday night from Belgian-based brewer InBev SA, according to a joint press release. The deal is expected to close by year-end.

"What consumers care is that their Bud will always be their Bud, and that's what we're committed to, not only the product, the quality, the beer ... but also the heritage, the breweries, who brews the beers, and everything that's connected to the breweries," InBev CEO Carlos Brito said in a media conference call.

For InBev, the deal gives an aggressive company an iconic beer brand - Budweiser - to sell into emerging markets such as China and Brazil where it has already established a wide network.

Stocks trade mixed on plan to aid Fannie, Freddie Mon, 14 Jul 2008 11:56 EDT
Stocks mostly declined Monday as investors worried that even a safety net set up over the weekend for mortgage financiers Fannie Mae and Freddie Mac couldn't head off further troubles in the financial markets.

Wall Street's latest unease about the banking sector comes in a week when many financial names are to issue quarterly reports - many of which will likely include sizable write-downs of souring mortgage debt.

The Treasury and the Federal Reserve said Sunday that they would aid the companies if needed. Wall Street has been on edge about the well-being of Fannie Mae and Freddie Mac because the companies hold or back $5.3 trillion of mortgage debt, about half the outstanding mortgages in the United States. Washington's efforts to shore up confidence in Fannie Mae and Freddie Mac helped those shares but troubles have arisen in other corners of the financial sector.

Investors are also worried about a run on IndyMac Bancorp Inc. that led to the bank's takeover by the government Friday. IndyMac is the largest regulated thrift to fail and the second largest financial institution to close in U.S. history, regulators said after taking control of the bank.

"My sense is that investors are taking a pretty cautious stance," said Jack A. Ablin, chief investment officer at Harris Private Bank in Chicago. "The government can't bail out the whole industry."

Fasig-Tipton's July sale is first under new ownership Mon, 14 Jul 2008 08:15 EDT

On April 10, the thoroughbred auction industry received a major shakeup when it was announced Lexington-based Fasig-Tipton Co., North America's oldest Thoroughbred auction company, had reached an agreement to be acquired by Synergy Investments Ltd., a Dubai-based company headed by Abdulla Al Habbai, a close associate of leading buyer Sheikh Mohammed bin Rashid al-Maktoum.

The deal officially closed on May 30 and on Monday, Fasig will conduct its first sale under the new regime when its two-day Kentucky July Yearling sale kicks off at 10 a.m.

In an interview, Boyd Browning, executive vice president and chief operating officer of Fasig-Tipton discussed what impact the new ownership group will have on the company and the industry.

Question : This is the first sale under the new ownership. What changes if any will consignors, buyers, patrons notice?

Personnel file Mon, 14 Jul 2008 08:07 EDT

Finance

American Founders Bank: William D. .Bill. Craycraft has been named senior lender. Mary Ellen Smiley has joined the bank as senior vice president, director of human resources. Victoria Carling has joined the bank as a vice president in the commercial and private client group. Brad Roy has been named a lending officer in the commercial and private client group.

Farmers Bank: David Vanderpool has been named assistant vice president/loan officer at the bank's main office in Nicholasville.

Forcht Bank: Scotty A. Harrison has been named relationship officer for the group's Williamsburg banking center location.

Fed helping out Fannie, Freddie Mon, 14 Jul 2008 07:47 EDT

WASHINGTON . The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival.

The steps are also intended to send a signal to nervous investors worldwide that the government is prepared to take all necessary steps to prevent the credit market troubles that started last year with losses from subprime mortgages from engulfing financial markets and further weakening the economy and housing markets.

The Fed said it granted the Federal Reserve Bank of New York authority to lend to the two companies .should such lending prove necessary.. They would pay 2.25 percent for any borrowed funds . the same rate given to commercial banks and Big Wall Street firms.

The Fed said this should help the companies' ability to .promote the availability of home mortgage credit during a period of stress in financial markets..

Business Awards Mon, 14 Jul 2008 08:47 EDT

Kristie Eubank, a TrinSoft software consultant, has received Microsoft Dynamics NAV Financials, Installation and Configuration, and Trade and Inventory certifications. Eubank has 16 years experience in accounting and finance. Prior to joining TrinSoft she served as chief financial officer at a Lexington bank.

Carolyn Harvey, associate professor of environmental health at Eastern Kentucky University, has received the Past Presidents of the National Environmental Health Association Award in recognition of her service to the profession. Harvey, who joined the EKU faculty in 2001 after spending more than 30 years in private industry and higher education, is the first educator to receive the award, the recipients of which are determined by the past presidents of the NEHA. Harvey teaches graduate and undergraduate courses in the university's Department of Environmental Health Science. She is a past president of the Phi Kappa Phi chapter at the university and teaches in EKU's OSHA Training Institute. She also serves as chair of the National Environmental Health Science and Protection Accreditation Council and is a past president of the Association of Environmental Health Academic Programs.

Kentucky Imaging Center has been awarded a three-year term of accreditation in magnetic resonance imaging by the American College of Radiology. The ARC awards accreditation to facilities for high practice standards after a peer-review evaluation of the practice. Evaluations are conducted by board-certified physicians and medical physicists who are experts in the field.

Dr. Blair Madison, vice president of research for Lexington-based Transposagen Biopharmaceuticals, has received the Ruth L. Kirschstein National Research Service Award from the National Institutes of Health for a project he designed on mobile element mutagenesis. The primary objective of the award is to help ensure that diverse pools of highly trained scientists will be available in adequate numbers and in appropriate research areas to carry out the nation's biomedical, behavioral and clinical research agendas. Dr. Blair plans to use the award as an opportunity to investigate the molecular genetic causes of colon cancer. Dr. Madison's research has enabled Transposagen to expand upon its breakthrough technology by designing a new method of mutagenesis using mobile DNA elements for the rapid identification of cancer genes.

Kentucky Datebook Mon, 14 Jul 2008 09:24 EDT

Classes

Engaging Volunteers by .Tapping Into Their Strengths and Interests will be presented by the Kentucky Horse Council from 6:30-8:30 p.m. Tuesday at 1500 Bull Lea Road. Instructor: Lori Garkovich of the University of Kentucky's .Department of Community and Leadership Development. One free admission per KHC membership; $15 all others. Registration: (859) 367-0509 or visit www.kentuckyhorse.org.

Meetings

Conventions Mon, 14 Jul 2008 08:07 EDT

Events scheduled for Lexington, including headquarters and expected attendance:

International Jugglers .Association, IJA Juggling Festival: Through Sunday, Hyatt Regency Lexington, 500.

Reeves International, BreyerFest 2008: Through July 21, Holiday Inn North, 6,000.

Business transitions Mon, 14 Jul 2008 08:07 EDT

First Federal Bank has opened a new branch at 2452 Sir Barton Way in Hamburg. This is the first new branch for the bank in nearly 30 years. The new building also houses First Mortgage Co., a subsidiary of First Federal Bank.

IBloom will celebrate its grand opening at 155 Prosperous Place, Suite 2A, from 11 a.m.-2 p.m. July 26. IBloom is a Lexington-based organization dedicated to inspiring women through life coaching, life plans, consulting, speaking, writing, training and by hosting events in Kentucky. Founder and president: Kelly Thorne. Phone: (859) 514-3562. Web site: www.ibloom.us.

Keystone Financial Group has opened at 535 Wellington Way, Suite 140. The firm offers comprehensive financial, estate and wealth planning, among other services. Web site: www.keystoneky.com. Phone: (859) 317-8316.

Cincinnati-based Thomas J. Dyer Co. has opened an office at 1365 Cahill Drive to operate as a full-service mechanical contracting company, providing customers with plumbing, HVAC piping, process piping, orbital welding, sheet metal and piping and plumbing fabrication. Phone: (859) 253-DYER. Web site: www.tjdyer.com.

By the numbers Mon, 14 Jul 2008 08:15 EDT

203,590

An estimated 203,590 homes in Kentucky rely exclusively on over-the-air television, meaning they watch free TV broadcasts using rabbit ear or rooftop antennas. These households will need to take steps to receive a digital television signal by Feb. 17, 2009, when all full-power stations must begin broadcasting only in digital.

A National Association of Broadcasters poll shows 92 percent of consumers in Kentucky know about the nationwide switch to digital television. The poll was conducted March 29 through May 23 by Smith-Geiger LLC.

More information about the switch can be found at DTVAnswers.com.

Kentucky Money Market Mon, 14 Jul 2008 10:12 EDT

Fed adopts plan to curb shady mortgage practices Mon, 14 Jul 2008 12:26 EDT
The Federal Reserve has adopted rules to give home buyers more protection from the types of shady lending practices that have contributed to the housing crisis and propelled foreclosures to record highs.

Chairman Ben Bernanke and his central bank colleagues approved a plan Monday that would crack down on dubious lending practices that have hurt many of the riskiest "subprime" borrowers - people with tarnished credit histories or low incomes.

In that regard, the plan would:

- bar lenders from making loans without proof of a borrower's income.

- require lenders to make sure risky borrowers set aside money to pay for taxes and insurance.

Freddie Mac auction draws plenty of bidders Mon, 14 Jul 2008 12:16 EDT
Freddie Mac attracted more bidders Monday for a highly anticipated auction of $3 billion in short-term securities than it had nearly all year, a day after the federal government provided support for the mortgage giant.

"This was a good auction result," said independent banking consultant Bert Ely.

There had been fears all weekend about investors shying away from participating in the auction until the government stepped in and pledged to support the struggling mortgage financier.

Freddie Mac sold $2 billion in three-month securities Monday morning as part of its routine, weekly short-term debt auction via the Internet. The bid-to-cover ratio - which measures the number of bid received compared with the number of bids accepted - was 4.16, the highest the ratio has been for three-month securities since Freddie Mac's auction on Oct. 22.

The mortgage company sold $1 billion in six-month securities. The bid-to-cover ratio was 3.73, its highest rate since Jan. 14.

Boeing lands $9B Emirates jetliner order Mon, 14 Jul 2008 10:11 EDT
The world's largest air show opened Monday with several new orders for Boeing Co. and aerospace executives upbeat about the future of the industry despite high fuel prices and the credit crisis.

The Farnborough International Airshow on the outskirts of London is traditionally - along with its sister show in Le Bourget in France on alternate years - the scene of a flurry of high profile orders for U.S-based Boeing Co. and its European rival Airbus.

In an early, anticipated announcement, the recently launched low-cost airline FlyDubai announced an order for 50 next-generation 737-800s, worth around $3.74 billion in total at current list prices. FlyDubai has substitution rights to convert its 737-800 orders to 737-900ERs in the future.

Meanwhile, Etihad Airways said it placed an order for 45 Boeing aircraft worth $9 billion at list prices, comprising 35 Boeing 787 aircraft and 10 Boeing 777-300ER.

Etihad, the national airline of the United Arab Emirates, is also placing options for another 25 Boeing 787s and 10 Boeing 777s. Aircraft deliveries will begin 2011 and are set to be completed by 2020.

Government not expected to help more companies Mon, 14 Jul 2008 07:41 EDT
The U.S. government is signaling it won't throw a lifeline to struggling financial companies - except for mortgage linchpins Fannie Mae and Freddie Mac - marking a shift to a new and potentially more volatile phase of the credit crisis.

Such an approach could mean beaten-down investment banks like Lehman Brothers Holdings Inc. and regional banks must now fend for themselves as they try to recover from billions of dollars in mortgage-related losses - unlike Bear Stearns Cos., whose buyout the government helped orchestrate in March. That is bound to unnerve an already turbulent Wall Street and make investors even more anxious as they await financial companies' earnings expected to be down a stunning 69 percent from a year ago when all the numbers are in.

And, for consumers already squeezed by tightening credit standards, it could mean getting a mortgage will become even harder.

The short-term uncertainty about Freddie Mac and Fannie Mae - which together hold or guarantee half the nation's mortgage debt - was to an extent relieved on Sunday. Federal officials again threw their support behind the government-sponsored enterprises; the Treasury pledged to expand its current line of credit to the two companies and Treasury Secretary Henry Paulson also said the government could, if needed, buy equity capital in the companies, whose stocks lost half their value last week. The Treasury's moves would require congressional approval.

Meanwhile, the Federal Reserve said it will provide additional loans if needed.

Business owner renovates old Brock-McVey building before move Mon, 14 Jul 2008 09:30 EDT

Troy Turner's business got a new home and a new name this year.

But before he moved his copier, printer and software company from Fortune Drive to the circa 1970s building he bought last fall, the structure at 1263 East New Circle Road underwent a huge makeover . inside and out.

Running a business that deals in state-of-the-art technology out of an outdated building was not a good thing, as far as Turner was concerned.

.Being in the technology business, obviously we needed something that was very contemporary looking,. Turner said recently.

Bourbon a hit at French garden party Mon, 14 Jul 2008 08:07 EDT

It's a tradition at the U.S. Embassy in Paris to hold a huge garden party on July 4 to celebrate our independence and the French role in defeating the British.

About 2,400 people attended this year, and many of them may have noticed that the party had a distinctly bluegrass flavor.

The explanation begins last spring when Lexington and Deauville, France, received special invitations to be one of four pairs of host cities at the garden party because of their longstanding relationship as sister cities.

.It was a big deal,. says David Lord of the Lexington Convention and Visitors Bureau , but the bureau couldn't afford to fly people to France for a garden party.

Loose change Mon, 14 Jul 2008 10:06 EDT

Chinese Dir