News money 2008-08-03 Andanh.com

Auto sales running on empty Sun, 03 Aug 2008 02:31:00 EST
Bruce Wunderlich sees the results of the seismic shifts in the U.S. auto market every Thursday morning. As the ear-splitting shouts of auctioneers reverberate inside Manheim's Louisville Auto Auction in Jeffersonville, Ind., gently used trucks and sport utility vehicles roll through the lanes to command a fraction of their former value.

Many NASCAR fans think Toyota's a drag Sat, 02 Aug 2008 22:27:00 EST
Moments after eking out a dramatic, come-from-behind victory at a NASCAR race earlier this month, Kyle Busch climbed out the window of his No. 18 Toyota and took a bow. The crowd's reaction? A chorus of boos.

Video games hope to attract broader market Sat, 02 Aug 2008 22:21:00 EST
A tough little blob must splash color over a town wallowing in gray. Bug-eyed rabbits do a dance routine. And then there's the "perfect equine farm" of wild horses for little girls to tame and train.

Tighter times expected to slow gifts to nonprofits Sat, 02 Aug 2008 22:22:00 EST
Charities are bracing for a decline in donations as the economy falters. Nonprofit leaders are fretting over donor lists to figure out how they will find the money to run educational programs, deliver food to the needy, and pay basic expenses such as health care and mileage reimbursements for employees. Many are creating alternate budgets to account for a lower level of donations they expect this year.

Economic woes show need to mind our spending Sat, 02 Aug 2008 22:24:00 EST
When John McCain's campaign co-chairman and top economic adviser, Phil Gramm, said that Americans were suffering from a "mental recession," I got hopping mad. I fumed because Gramm's flippant comment was so harsh. Hadn't he been reading the constant flow of reports about how bad things are?

Don't count on U.S. to bail out the ailing dollar Sat, 02 Aug 2008 22:24:00 EST
Federal rescue plans are all the rage in Washington right now, for what seems to be everything but the dollar. The U.S. currency isn't likely to get a bailout, even though its steep decline is feeding inflation and straining the economy.

Court ruling may drive doll sales Sat, 02 Aug 2008 22:24:00 EST
While Mattel reported a 48 percent decrease in second-quarter profit on sagging U.S. sales, the toy maker is likely to benefit from a court decision over Bratz dolls.

Federal minimum wage hike helped few Sat, 02 Aug 2008 22:24:00 EST
How many workers will be affected by this summer's federal minimum wage increase? And which workers make minimum?

Business People Sun, 03 Aug 2008 00:51:00 EST
HEALTH CARE ResCare, a leading provider of residential, training, therapeutic, educational and support services for people with special needs, has announced that Vincent F. Doran, president of ResCare's Employment and Training Services Group, is retiring. GOLF Wilson Golf, a division of Chicago-based Wilson Sporting Goods, has named Rob Spencer as a sales representative for Kentucky and Tennessee. PROFESSIONAL SERVICES Woodward, Hobson & Fulton LLP has hired Nora FitzGerald Meldrum for the law firm's Louisville office. Trinity Video Communications has promoted Kelly Dettlinger to supervisor of administration and has hired Melissa Burton as an administrative assistant. MISCELLANEOUS JAMfest Events of Louisville has named Cassie Nolan as an event coordinator ORGANIZATION Tim Holland has been named president of the Rotary Club of St. Matthews. — Chris Quay Items can be submitted at courier-journal.com/businesspeople Color photos should be in jpeg format (200 dpi). Photos should be at least 2 inches by 3 inches and bear the person's name.

Short Circuits Sat, 02 Aug 2008 22:21:00 EST

New hotels opening even as occupancy rates sink Sat, 02 Aug 2008 01:54 EDT

A record number of hotels are opening this year, and the timing could not be worse.

High gas prices and a slumping economy have put a damper on leisure and business travel. Airlines have been cutting service and raising fares. While new hotels open, occupancy rates are falling in much of the United States.

Until recently, the industry was in a major boom, and it was during those good times that the hotel companies made plans to build many of the new rooms. But the outlook has started to sour in the last couple of months.

Nationwide, hotel occupancy levels have been hovering around 65 percent, down about 5 percent from last year, according to Smith Travel Research.

FCC: Comcast can't block Web access Sat, 02 Aug 2008 01:54 EDT

WASHINGTON . A divided Federal Communications Commission weighed in on the net-neutrality debate Friday, ruling that Comcast Corp. violated federal policy when it blocked Internet traffic for some subscribers.

In a precedent-setting move, the FCC's 3-2 vote enforced a policy that guarantees customers open access to the Internet.

The commission did not assess a fine, but ordered the cable giant by the end of the year to stop cutting off transfers of large data files among customers who use a special type of file-sharing software.

Comcast says its practices are reasonable, and that the FCC's so-called network-neutrality .principles. are part of a policy statement and are not enforceable rules.

Toyota's new 2-wheeler made for airports, malls Sat, 02 Aug 2008 01:54 EDT

TOKYO . Toyota has developed a Segway look-alike designed to help people scoot around at malls and airports.

The .Winglet,. shown Friday in Tokyo, is targeted to seniors, but there are no plans yet to turn it into a commercial product.

The automaker will start testing the two-wheeler this year at an airport and resort complex and next year at a shopping mall, all in Japan, to get user feedback. Overseas test plans are undecided.

The Winglet goes up to 3.7 mph, about the same speed as pedestrians, far slower than 12.5-mph Segway, which costs $5,000. The Winglet can go about 3 miles before needing to be recharged.

Costco shareholder files stock option lawsuit Fri, 01 Aug 2008 18:01 EDT
A Costco shareholder has filed a lawsuit against the wholesale club company, claiming its insiders were involved in a scheme to illegally backdate stock options.

The suit claims some current and past Costco insiders and executives manipulated information allowing them to be "unjustly enriched at the expense of and detriment of Costco" for several years.

Shareholder Sandra Donnelly filed the suit July 17 in King County Superior Court and is seeking unspecified financial damages and internal reforms.

Costco Wholesale Corp. representatives declined to comment, saying they do not discuss pending litigation.

The company's stock-option practices were already investigation. In 2007, the U.S. Attorney's Office in Seattle launched a grand jury investigation after a 2006 internal investigation found "imprecisions" with some of its stock grants. The federal investigation is still under way.

Chinese Dir