News money 2008-05-21 Andanh.com

Banking on green: Start-up broadening range of alternative energies
Nexamp hopes to continue growth and branch out into energy trading, financing and carbon footprint assessments.

Larry Bird's former home to be resort Sun, 18 May 2008 03:50:00 EST
Fans of basketball legend Larry Bird will soon be able to sleep in the star's former bedroom, relax in his extra-long leather chair and take a dip in his old swimming pool -- for a price.

Widower urges new insurer law Sun, 18 May 2008 02:32:00 EST
When Jenny and John Crowley learned that they were having a baby, the couple did the responsible thing: They bought life insurance. Barely in their 30s, they passed the insurance company's physicals and, applied for a $500,000 policy for Jenny and a $1 million policy for John.

Smarter electric grid could power savings Sat, 17 May 2008 23:26:00 EST
The glowing amber dot on a light switch in the entryway of George Tsapoitis' house offers a clue about the future of electricity. A few times this summer, when millions of air conditioners strain the Toronto region's power grid, that pencil-tip-sized amber dot will blink.

PayPal-only plan by eBay draws fire Sat, 17 May 2008 22:42:00 EST
Web seller eBay is exploring whether to require customers to use its online payment service PayPal, a move that has angered users and prompted antitrust scrutiny in Australia, where a PayPal-only rule takes effect next month.

Waiting for a sign Sat, 17 May 2008 23:27:00 EST
Billionaire investor Carl Icahn reportedly hasn't had talks with Microsoft, but the two sides appear to have similar thoughts as to who should be on the board at Internet pioneer Yahoo.

Sliding electric rates an option Sat, 17 May 2008 22:46:00 EST
Determined to cut his electricity bill, Darrell Brubaker began raising his air conditioner's thermostat and cooking more on a grill. But the key to maximum savings -- as much as 6 percent a month last summer -- was his grasp of the state of the electrical grid and his family's willingness to adjust their power use accordingly.

Weaning Americans off debt is group goal Sat, 17 May 2008 22:48:00 EST
A coalition of consumer advocates, public policy groups and academics wants to attack our dependence on debt by creating a national campaign much like the one used to curb smoking.

Funds keep faith, profits by avoiding financials Sat, 17 May 2008 22:47:00 EST
Moazzam Ahmed tried for years to square his investment goals with the tenets of Islam. "There was a lot of research that I had to do on my own," he said, referring to the time he spent poring over potential investments to weed out objectionable businesses.

Practices on personal employee data vary Sat, 17 May 2008 22:48:00 EST
What happens to the personal information my employer has when I leave?

Casino chief gambles on market Sat, 17 May 2008 22:47:00 EST
Chief Executive Terry Lanni said the casino company plans to push ahead with new projects even after construction costs and a troubled economy sent its first-quarter profit tumbling 30 percent.

GE puts for sale sign on Appliance Park Sat, 17 May 2008 02:04 EDT
They hung on during years of downsizing, but now the few thousand people working at GE's sprawling Appliance Park face even greater uncertainty with the company's plans to sell or spin off its appliance business.

Word that General Electric Co. might shed its appliance division, headquartered in Louisville, sent ripples through the work force and all the way to city hall and the governor's office in Frankfort.

State and local officials met with GE executives Friday then tried to put a positive face on the uncertainty at Appliance Park, an approximately 900-acre operation so big it has its own ZIP code.

"I think we've got a lot to sell, and we just need to take advantage of that opportunity," said Larry Hayes, secretary of Gov. Steve Beshear's executive cabinet.

Some GE workers said they were blindsided by the news and talked about tightening their belts amid the worries of keeping their jobs in a struggling economy.

Purge might extend to lighting and NBC Sat, 17 May 2008 02:04 EDT
NEW HAVEN, Conn. -- General Electric Co. plans to sell or spin off the appliance business that for a century has put refrigerators, washing machines and dishwashers in American homes in a move that some analysts say shows one of the world's largest companies may shed other cherished assets.

The industrial conglomerate said in a statement Friday the move is part of an ongoing plan to exit "slower growth and more volatile businesses."

Last year, Fairfield, Conn.-based GE shed its underperforming plastics business by selling it to a Saudi Arabian company for $11.6 billion.

"We think this is further recognition the company needs to exit the slow and no-growth businesses," said Robert Schenosky, an industrial analyst with Jefferies & Co. in New York who has long favored such moves. "It's a recognition that there is not anything that is untouchable at this point."

Schenosky said it's hard to predict what else GE might sell.

Apartments give housing market an April boost Sat, 17 May 2008 02:04 EDT
Construction of new homes increased by the biggest percentage in more than two years in April, a rare spot of good news amid the worst downturn in housing in more than two decades.

Analysts, however, played down the increase, noting that all the strength came from the volatile apartment sector. They said the painful housing slump is far from over as a record flood of foreclosures continues to add to the sizable stockpile of unsold homes.

The Commerce Department reported Friday that housing construction rose by 8.2 percent in April to a seasonally adjusted annual rate of 1.03 million units. While apartment construction rose by 36 percent, building in the much larger single-family sector of the market fell by 1.7 percent, the 12th consecutive monthly decline, pushing single-family activity down to a 16-year low.

"It is definitely too early to uncork the champagne on the long and winding road to more healthy housing-market conditions," said Brian Bethune, an economist at Global Insight. He said he did not expect housing activity to stabilize until the end of this year.

Len Blum, managing director of investment bank Westwood Capital, said the slump in housing will run for another year because of a number of problems, from banks tightening up on lending standards to the reluctance of many people to commit to a home purchase at a time when home prices are still falling.

Recycling options lag the compact fluorescent push Sun, 18 May 2008 14:13 EDT
It's a message being drummed into the heads of homeowners everywhere: Swap out those incandescent lights with longer-lasting compact fluorescent bulbs and cut your electric use.

Governments, utilities, environmentalists and, of course, retailers everywhere are spreading the word.

Few, however, are volunteering to collect the mercury-laced bulbs for recycling - despite what public officials and others say is a potential health hazard if the hundreds of millions of them being sold are tossed in the trash and end up in landfills and incinerators.

For now, much of the nation has no real recycling network for CFLs, despite the ubiquitous PR campaigns, rebates and giveaways encouraging people to adopt the swirly darlings of the energy-conscious movement. Recyclers and others guess that only a small fraction of CFLs sold in the United States are recycled, while the rest are put out with household trash or otherwise discarded.

"In most parts of the country, it requires getting in your car and burning up your gas and going out of your way, a long ways, and people are unlikely to do this," said Paul Abernathy, the executive director of the Association of Lighting and Mercury Recyclers in Calistoga, Calif.

Chrysler, GM workers in Canada ratify 3-year deals Sun, 18 May 2008 13:48 EDT
Canadian Auto Workers at General Motors Corp. and Chrysler LLC have ratified a new labor agreement, wrapping up this year's round of negotiations between the CAW and the major automakers.

CAW members at Chrysler's three Ontario-based plants voted 87 percent in favor of the new agreement Saturday, making it the strongest approval rating among the three giant auto companies. GM workers voted 84 percent in favor of its new agreement earlier Saturday, and Ford Motor Co. workers voted 67 percent in support of its new contract two weeks ago.

CAW President Buzz Hargrove said the strong approval by the membership is evidence that the union did the right thing in negotiating an early settlement.

"I have no doubt in my mind that going into early bargaining with General Motors, Ford and Chrysler was the best thing for our members," Hargrove said in a statement Saturday. "With the new product commitments contained in the agreement, our members will be better equipped to weather the economic storm currently devastating the auto industry."

The union reached historically early tentative agreements Thursday with both GM and Chrysler, replacing contracts that expire in September.

Investors gird for higher oil, bleak housing data Sun, 18 May 2008 14:38 EDT
The rising price of oil isn't just swelling Americans' energy bills - it's also holding back their stock portfolios.

Wall Street got some seemingly auspicious signs last week about home construction and consumer level inflation. But with oil climbing to new records, and more reports expected this week on rising prices and the housing market, investors are holding on to a conservative stance.

Oil's stubborn trek to record highs is a major reason why investors have yet to push the major indexes into positive territory for the year. Just this month, crude has so far tacked on about $13 to breach $127 a barrel, while the price of a gallon of gasoline for the average U.S. driver has soared 17 cents to nearly $3.79.

Those price surges cast an air of skepticism over last week's report from the Labor Department showing a modest 0.2 percent uptick in consumer prices in April.

Meanwhile, the Commerce Department's upbeat report on housing starts also met with some doubt among investors, particularly because the huge rise was due mostly to apartment construction, which can vary widely from month to month.

American Axle workers get details of contract Sun, 18 May 2008 14:03 EDT
American Axle and Manufacturing Holdings Inc. workers on Sunday learned details of a tentative contract that could settle an 11-week strike by the United Auto Workers union.

Workers gathered at a high school to hear information about Friday's agreement. Afterward, a UAW local president said General Motors Corp. was key in reaching the deal, kicking in an extra $18 million on Friday to get the agreement in addition to $200 million that it already had offered to pay.

A summary of the contract distributed by the union included base pay of $18.50 per hour for Detroit workers. That's a cut from $28 per hour for production workers, but better than the $17 per hour the auto parts supplier had been offering.

The summary also said there is a $5,000 bonus for signing the contract. And buyouts being offered include $85,000 for someone with less than 10 years with the company and $140,000 for a worker with more.

An offer of a $55,000 early retirement bonus also was included in the proposed contract.

EBRD: Inflation hitting Eastern Europe hard Sun, 18 May 2008 13:53 EDT
Rising inflation is severely hurting Ukraine and other Eastern European nations, while the global credit crunch will slow growth in those countries dramatically in coming months, the European Bank for Reconstruction and Development said Sunday.

"Inflation, now in double digits in many countries, is the region's most pressing current problem. If left unaddressed, inflation could risk price-wage spirals, exchange rate realignments, or could force a belated and sharp response by monetary policy," the bank said in a statement.

Gathering in Kiev for their two-day annual meeting, bank officials were scheduled to discuss the impact of global economic turmoil and soaring food prices, among other topics.

The worldwide credit crunch could sharply pinch markets in ex-Soviet bloc nations, and as a result, the bank said it had downgraded gross domestic product growth projections for Ukraine and other countries.

Overall growth of 6 percent is expected in Eastern Europe this year, compared with 7.3 percent in 2007, the bank said.

The drive for biofuels Mon, 19 May 2008 00:02:00 EST
As soaring soybean and corn prices threaten the still-nascent biofuels industry, entrepreneur William D. Bivins hopes to break ground this year on an energy plant that will utilize multiple raw sources to produce biodiesel, ethanol, electricity and natural gas.

Trade show to feature small businesses Mon, 19 May 2008 00:03:00 EST
About 100 small companies will show off their services Wednesday in what's being billed as a business-to-business bonanza at the Kentucky Exposition Center.

Show concern, but be direct on layoffs Mon, 19 May 2008 00:04:00 EST
It's something small-business owners dread: having to tell employees they're being laid off. It's inescapable in a weak economy, or as a company changes the way it does business, that some workers must be let go.

re: Dannette Flaherty, pet claims manager Mon, 19 May 2008 00:05:00 EST
My job is: "Great! I am able to use my previous accounting and business skills along with my acquired animal care knowledge."

Tech tools help small firms succeed Mon, 19 May 2008 00:06:00 EST
After Hurricane Katrina lashed the Gulf Coast in 2005, small businesses such as the Silk Road Collection antique store in New Orleans had little hope of surviving. Tourists and local customers had vanished, and it would take years for the city to rebuild.

Researchers' work fuels beauty battles Mon, 19 May 2008 00:06:00 EST
Jim Schwartz remembers feeling a little bewildered when he started his job developing beauty-care products at Procter & Gamble Co. Schwartz, fresh from earning his doctorate in chemistry, wondered about the scores of researchers working on Ivory soap:

Workers settle for less as economy falters Mon, 19 May 2008 00:07:00 EST
Many job seekers must accept new positions at lower salaries than they would have received just a month ago, according to findings in the Jobfox Top 25 Most Wanted U.S. Job Candidates: May 2008 rankings. Median salary ranges for some of the professions dipped $10,000 per year.

Some job-seekers maintain confidence Mon, 19 May 2008 00:08:00 EST
Recent employment data has economists and working Americans jittery, but job-seekers with salaries higher than $100,000 aren't so worried.

Family files lawsuit in metal bat injury case Mon, 19 May 2008 10:57 EDT
The family of a boy who suffered brain damage after he was struck by a line drive off an aluminum baseball bat sued the bat's maker and others on Monday, saying they should have known it was dangerous.

The family of Steven Domalewski, who was 12 when he was struck by the ball in 2006, filed the lawsuit in state Superior Court. It names Hillerich & Bradsby Co., maker of the 31-inch, 19-ounce Louisville Slugger TPX Platinum bat used when Steven was hit.

The lawsuit also names Little League Baseball and Sports Authority, which sold the bat. It claims the defendants knew, or should have known, that the bat was dangerous for children to use, according to the family's attorney, Ernest Fronzuto.

"People who have children in youth sports are excited about the lawsuit from a public policy standpoint because they hope it can make the sport safer," Fronzuto said after filing the suit Monday morning. "There are also those who are skeptical of the lawsuit and don't see the connection between Steven's injury and the aluminum bat."

Little League denies any wrongdoing, as does the bat manufacturer. Sports Authority has not responded to several telephone messages seeking comment.

Court upholds municipal bond tax exemption Mon, 19 May 2008 18:22 EDT
The $2.5 trillion municipal bond market skirted a land mine Monday when the Supreme Court ruled that states could continue to give special tax breaks on the bonds that fund hospitals, roads, schools and other services.

The justices ruled 7-2 in a case from Kentucky that states can exempt interest on their own bonds from taxation while taxing residents for interest on bonds issued by other states.

In the municipal bond market, 41 states have systems similar to Kentucky's. Seven states do not impose taxes on personal income: Alaska, Florida, Nevada, South Dakota, Texas, Washington and Wyoming. Indiana has a tax exemption for interest on municipal bonds from all states.

The states impacted by the Supreme Court case have said that throwing out the system of exemptions that began some 90 years ago would have a devastating impact on state finances.

Industry groups warned of possible turmoil in the municipal bond market if the existing setup were dismantled.

Adhering to principles pays off in investing, too Mon, 19 May 2008 02:03 EDT
Moazzam Ahmed tried for years to square his investment goals with the tenets of Islam.

"There was a lot of research that I had to do on my own," he said, referring to the time he spent poring over potential investments to weed out objectionable businesses. "I probably still made mistakes."

Then, several years ago, he discovered a mutual fund company that complied with Shariah, or Islamic law, and soon rolled over his 401(k) to the funds. The funds prohibit investments in companies whose business focus on alcohol, tobacco, gambling, pornography or insurance.

Ahmed hadn't just found a family of funds that aligned with his religious principles, he'd discovered funds that produced strong returns and managed to sidestep the implosion of Enron Corp. and Worldcom Inc. as well as the more recent mortgage debacle.

While Wall Street puts much of its faith in money, there are funds guided by religious principles that can keep up with or even outperform many funds with fewer restrictions on how they invest.

Give him a Helping Hand and he'll gladly take your trash Mon, 19 May 2008 02:03 EDT
He's a truck-driving man: Mark Mabson has been a driver for the city Department of Solid Waste for 12 years. Four days a week he's on the road, starting at about 6 a.m. and finishing close to 4 p.m.

Everybody needs a helping hand: Mabson's partner in grime is the "Helping Hand" Automated Sideloader, Expert 2000 by Labrie. The refuse truck with a side arm picks up Herbies, empties them, and sets them back down at his command. It's a one-man, one mechanical-arm show. Mabson says the truck's design helps it get into tight spots -- and out of them, too.

Out and about: On Mondays he's in the Southpoint Drive area, on Tuesdays it's Andover; on Thursdays he's near Sandersville Road, and on Fridays you can find him around Hays Boulevard. The trucks don't go out on Wednesdays.

Backing up: Mabson says he always wanted to be a truck driver and work for the department. His older brother, William, has been with the Division of Solid Waste for 30 years, which takes him back to about 5 B.H. -- Before Herbie; the first Herbie the Curbies were delivered about 1982 or '83, a department official said.

Give 'em an inch, they'll take a yard: Mabson was hired as a driver, but was first put to work riding on a rear-loading yard-waste truck so that he could understand what the guys hanging on the back experience as he's driving.

IPOs planned Mon, 19 May 2008 07:58 EDT
The following is a list of initial public offerings planned for this week. Sources include Renaissance Capital, Greenwich, Conn. ( www.ipohome.com ) and SEC filings.

Liberty Lane Acquisition Corp., Hampton, N.H.: 35 million units, each consisting of one common share and one-half of a warrant, priced at $10, managed by Goldman Sachs. Proposed Nasdaq symbol LLACU. Business: A newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more operating businesses, not limited to a particular industry or geographic region.

MFResidential Investments Inc., New York: 16.7 million shares, priced at $15 each, managed by UBS Investment Bank, Deutsche Bank, and Morgan Stanley. Proposed NYSE symbol MFR. Business: A real estate investment trust intending to invest primarily in residential mortgage backed securities and residential mortgage loans.

Kentucky by the numbers Mon, 19 May 2008 07:58 EDT

154 million
The final production estimate for Kentucky burley tobacco for 2007 was 154 million pounds, up less than 1 percent from 153.3 million pounds produced in 2006. Kentucky produced 74 percent of all burley grown in the United States.

Workers consider reducing 401(k) Mon, 19 May 2008 02:03 EDT
Jamie P. Menges sees many of his clients getting squeezed in this economy, and some are considering hard choices -- like cutting back on their 401(k) contributions.

One couple, trying to balance upcoming education costs with rising gas and food prices, recently discussed that idea, hoping they could take home a bit more in each paycheck. The Dublin, Ohio, investment adviser crunched some numbers and suggested it made more sense to reduce their Roth IRA contributions, which helped save the tax deductions associated with the 401(k).

Retirement plan administrators say they are not seeing a large-scale move by employees to reduce their contributions to 401(k) plans. But investment advisers say more people may consider cutting back on retirement savings if the economic doldrums continue.

"I think it's a conflict that they're constantly in battle with," said Menges, an adviser with Investment Partners LPD. "But right now, the broader question is, which one are they going to sacrifice in favor of the other?"

Eric Levy, a partner at Mercer LLC, which manages plans for about 1.5 million people, examined contribution statistics from July through March 31, and found no evidence of widespread cutbacks. But he said investors are nervous.

Microsoft says revived talks with Yahoo not takeover bid Mon, 19 May 2008 02:03 EDT
Microsoft Corp. is once again trying to team up with Yahoo Inc. to challenge Internet search and advertising leader Google Inc., although at this point the renewed talks haven't escalated to another attempt to take over Yahoo.

The Redmond, Wash.-based software maker disclosed the revived discussions Sunday without providing any specifics about the nature of the deal being explored except to say it involved bolstering the companies' position in the online search and advertising markets.

"There of course can be no assurance that any transaction will result from these discussions," the statement said.

In a statement late Sunday, Yahoo said its board is exploring several "value-maximizing" alternatives and remains "open to pursuing any transaction" in "the best interest of our stockholders."

Microsoft emphasized that it hasn't resurrected a $47.5 billion takeover bid that its chief executive, Steve Ballmer, withdrew May 3 after Yahoo CEO Jerry Yang -- acting on behalf of Yahoo's board -- demanded an additional $5.5 billion.

Pump prices rise to new high as oil extends gains Mon, 19 May 2008 19:17 EDT
More gas and oil records fell Monday as retail fuel prices struck new highs and crude settled above $127 for the first time, tightening the squeeze on drivers planning holiday road trips next weekend.

Light, sweet crude for June delivery jumped 76 cents to settle at a record $127.05 a barrel on the New York Mercantile Exchange. Prices rallied at one point to within a nickel of Friday's record trading high near $128 a barrel.

Meanwhile, Americans are now paying an average of $3.79 for a gallon of regular gas, according to a survey by AAA and the Oil Price Information Service. Diesel, used to transport a wide range of goods, now costs $4.52 a gallon. Those prices, both records, are likely to keep rising, following crude's upward track.

"We're looking at $4 a gallon (for regular nationwide) once we get past Memorial Day and into June, given the oil prices we're seeing today," said Geoff Sundstrom, fuel price analyst at AAA.

In Pittsburgh, some drivers said they had been forced to adjust their spending habits because of higher prices at the pump, which are up about 17 percent from a peak at this time last year.

Stocks finish mixed following tech pullback Mon, 19 May 2008 17:47 EDT
Wall Street ended mixed Monday after weakness in the technology sector punctured some of the market's enthusiasm over a report that suggested the economy could still be growing.

But comments from memory chip maker SanDisk Corp. about soft sales helped pull stocks off their highs and sent tech shares lower. The Dow Jones industrial average, which had been up more than 100 points, finished well off its highs.

The Conference Board's leading economic indicators report showed a 0.1 percent rise for April, following a similar uptick in March. The index, aimed at predicting economic activity in the next three to six months, bolstered investors' belief that the overall U.S. economy, while weak, is positioned for recovery.

After five months of declines in the leading indicators, some investors were concerned that March's increase was an anomaly - so April's advance was met with relief, said Hugh Johnson, chief investment officer of Johnson Illington Advisors.

But technology shares tugged at the market after SanDisk issued cautious comments at a JPMorgan technology conference Monday, said Neil Massa, senior trader at MFC Global Investment Management in Boston. SanDisk fell $2.42, or 7.5 percent, to $30.02. SanDisk's remarks came on a day of light trading and dented but didn't sink an upbeat mood on Wall Street.

Index: Weak economy may dodge a recession Mon, 19 May 2008 19:17 EDT
Gas prices are high, food's more expensive and the job market's cold, but the U.S. may still avoid a recession.

That was the message Monday from a private business group whose index of leading economic indicators defied expectations and inched higher in April.

The New York-based Conference Board said its forecast of future economic activity rose 0.1 percent in April, matching a 0.1 percent increase in March. Economists had expected a 0.1 decrease in April.

The index is designed to forecast economic activity in the next three to six months based on 10 economic components, including stock prices, building permits and initial claims for unemployment benefits.

"These data certainly reflect a weak economy but not one in recession," said Ken Goldstein, labor economist at The Conference Board. The small increases in March and April, which followed five months of decline, could be a signal the economy may not weaken further, he said.

Survey shows gas prices up 17 cents in 2 weeks Mon, 19 May 2008 07:17 EDT
A national survey says the average price for regular gasoline rose about 17 cents in the last two weeks.

The average price of self-serve regular gasoline on Friday was $3.79 a gallon. Mid-grade was at $3.91, and premium was $4.02. That's according to the Lundberg Survey of 7,000 stations nationwide released Sunday.

For the first time, the survey found average prices for regular gas surged above $4 a gallon in two metropolitan areas: Chicago and on Long Island in New York.

Of the cities surveyed, the cheapest price was in Tucson, Ariz., where a gallon of regular cost $3.48 on average.

The highest average price was in Chicago, at $4.07.

Campbell profit up on Godiva sale, adjusted earns fall Mon, 19 May 2008 16:48 EDT
Declining soup sales and higher prices for ingredients contributed to a difficult quarter for the Campbell Soup Co., even though a gain on the sale of its Godiva Chocolatier brand sweetened its bottom line.

Its shares fell more than 6 percent Monday.

The Camden-based food company earned $532 million, or $1.40 per share, in the three months ended April 27. That was up from $217 million, or 55 cents a share, a year ago.

But the latest results include the $850 million sale of Godiva to Yildiz Holding AS. After taxes, Campbell had a $467 million gain on the sale.

Excluding one-time items - including receipts from the March 18 Godiva sale, which was partially offset by the cost of previously announced restructuring - Campbell said its earnings were $165 million, or 43 cents per share, down 7.8 percent from an adjusted $179 million, or 45 cents per share, a year ago.

Gassed up on sorghum? Mon, 19 May 2008 02:03 EDT
It's a fall tradition in Hawesville, West Liberty and other Kentucky towns to celebrate the sweet sorghum harvest with a festival of food, music and local crafts.

Researchers say the whole state might soon have an economic reason to celebrate the corn lookalike as a source of ethanol, a gasoline additive that can reduce the nation's demand for oil.

"It has a lot of promise in Kentucky," says Mike Montross, an agricultural engineer at the University of Kentucky. "I think it should be good for the state."

Alltech, the Nicholasville-based biotechnology company, is considering sweet sorghum as a source of the ethanol it plans to produce at a $70 million biorefinery to be built starting next month in Washington County, said spokesman Billy Frey.

"It's definitely one of those (plants) being considered," Frey said. "We are still researching to see which one is best. We aren't ruling anything out right now."

Meeting has bourbon, but no Ryder Cup tickets Mon, 19 May 2008 10:10 EDT
The president of the Kentucky Distillers' Association was between Vice Mayor Jim Gray and developer Dudley Webb on the agenda for Tuesday's Bluegrass Hospitality Association meeting.

When his turn to speak came, Eric Gregory began by placing seven small bottles of bourbon on the lectern to represent the distilleries on the Kentucky Bourbon Trail.

"If I knew I was going to be between Jim Gray and Dudley Webb," Gregory quipped, "I would have brought bigger bottles."

Gray said he had to talk fast so the other speakers would get all the time they were due.

"I've learned in this political business that everybody wants their air time," he said.

Stocks take tumble on record oil price Tue, 20 May 2008 23:02:00 EST
Stocks stumbled yesterday after oil prices spiked to another record, above $129 a barrel, and a government report raised investors' concerns about inflation's impact on consumer spending.

Some Yum stores hit by quake Wed, 21 May 2008 04:14:00 EST
The massive earthquake that struck China last week hit Yum! Brands in its fastest-growing source of profit, damaging fast-food restaurants and prompting the company to donate $2.3 million to relief efforts.

Papa John's, Pizza Hut tie Wed, 21 May 2008 04:14:00 EST
Papa John's International is no longer the clear front-runner in customer satisfaction among the nation's largest pizza chains, a new survey shows.

Ford supplier taking hiatus Tue, 20 May 2008 22:41:00 EST
Hit by falling demand for Ford diesel pickup trucks built in Louisville, International Truck and Engine will temporarily stop diesel production Friday at its Indianapolis engine plant, a union official said yesterday.

Q: How much does it cost to use a Realtor? Tue, 20 May 2008 22:42:00 EST
A: Realtors typically are paid 6 percent to 7 percent of the sales price. Half goes to the agent who listed the property for the seller, and half goes to the agent who represented the buyer. The seller pays the commission.

Kentucky's jobless rate fell to 5.6 percent in April Tue, 20 May 2008 22:43:00 EST
Kentucky's unemployment rate fell to 5.6 percent last month, the state Office of Employment and Training said yesterday.

Patriot says it will offer $175 million in notes Wed, 21 May 2008 10:05 EDT
Patriot Coal plans to sell $175 million worth of convertible notes to pay down debt related to its pending acquisition of rival Magnum Coal.

Patriot says it plans to allow buyers the option to purchase an additional $25 million worth of notes. Details released Tuesday by Patriot say the notes will be convertible to cash and shares of Patriot stock. The interest rate hasn't been determined yet.

Patriot says part of the proceeds will go toward general purposes as well.

St. Louis-based Patriot agreed to acquire Charleston, W.Va.-based Magnum last month. The $709 million deal is expected to close this summer, pending approval by Patriot shareholders.

Patriot owns Peabody Energy's former coal operations in West Virginia and portions of Kentucky.

2 Kroger Marketplaces in works Wed, 21 May 2008 02:05 EDT
Customers at the Kroger stores on Beaumont Centre Circle and on Richmond Road will soon be able to shop for jewelry, toys, furniture and housewares at the same time they stop in to pick up a loaf of bread or gallon of milk.

The two Lexington Kroger locations will be replaced with Kroger Marketplace stores, which should begin operating in the first quarter of next year. The stores will remain open during construction.

Kroger Marketplaces offer thousands of items -- includinng kitchenware, bed and bath items, decorative goods, office and school supplies, furniture, toys and seasonal items -- not available at typical Krogers, said spokesman Tim McGurk.

The Lexington stores will have a Fred Meyer Jewelers store inside as well.

They also will feature larger health and beauty sections, drive-through pharmacies and broader selections of perishable grocery items, such as cheeses and olives.

Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 Next

Chinese Dir