http://http://www.kentucky.com/101/index.xml News, sports, and entertainment from Kentucky.com en-us Copyright 2009 Kentucky.com Business 60 Sat, 07 Nov 2009 08:46:55 EST http://blogs.law.harvard.edu/tech/rss McClatchy Interactive's Workbench interactive-ops@herald-leader.com http://www.kentucky.com/101/story/1008365.html http://www.kentucky.com/101/story/1008365.html Sat, 07 Nov 2009 08:06 EST
Wal-Mart Stores Inc. started another price war Thursday, trimming the online preorder prices of some upcoming DVDs following its price cut on books last month. And, once again, competitors Amazon.com and Target scrambled to match the prices.

It's the latest salvo in an ongoing online push by Wal-Mart designed to make sure everyone knows it intends to be the low-price leader on the Web, as well as in stores.

The retailer, based in Bentonville, Ark., said late Thursday that it would lower the online prices of new DVDs such as "Harry Potter and the Half Blood Prince" and "Star Trek XI" to $10.

But when Amazon reduced some of its DVD prices to $9.99, Wal-Mart shot back by cutting its DVDs to $9.98 as of Friday morning. Target got into the act Friday morning, too. All three companies also sweetened the pot by offering free shipping for the DVDs being sold.]]> http://www.kentucky.com/101/story/1009510.html http://www.kentucky.com/101/story/1009510.html Sat, 07 Nov 2009 01:29 EST
Brown was included on the list with such business heavyweights as Walt Disney, Sam Walton of Wal-Mart fame, Oprah Winfrey and Microsoft's Bill Gates.

Brown, who was governor from 1979 to 1983, parlayed KFC into an international business.

The Harvard Business School Web site noted that Brown and a group of investors bought Kentucky Fried Chicken from its founder, Colonel Harland Sanders, for $2 million in 1964 and grew it from 600 to 3,500 franchises.

"It's nice to be remembered," Brown said Friday in a telephone interview about the Harvard designation. "My son, Lincoln, just told me about it, and I told him maybe he finally will respect his old man."]]> http://www.kentucky.com/101/story/1009212.html http://www.kentucky.com/101/story/1009212.html Sat, 07 Nov 2009 06:20 EST
Not since 1983, after a double-dip downturn had sent the auto, steel and housing industries plunging, has the jobless rate gone so high. And many economists predicted it would go higher still in coming months.

Some 15.7 million workers now have no jobs, the government said in releasing its monthly unemployment report, and an estimated 5 million more are working fewer hours and drawing smaller pay checks than they were before the country fell into the worst recession in a generation.

In an effort to blunt the impact of the dismal news, Obama made a point of signing legislation Friday that provides additional aid for the jobless and expands and extends home buyer tax credits.

But few economists thought either measure would have a substantial impact on the worsening employment picture, or solve the president's increasingly urgent political problem: how to spur the creation of more jobs - and quickly.]]> http://www.kentucky.com/101/story/1007274.html http://www.kentucky.com/101/story/1007274.html Thu, 05 Nov 2009 15:33 EST
The farm announced cuts in stud fees Thursday to almost all of its roster, including Smart Strike, who is falling from $125,000 to $75,000, and Curlin, dropping from $75,000 to $60,000. The fee for Kingmambo, who had been listed at $250,000 for 2009, will be private for 2010.

The farm also announced that Gulch, sire of Kentucky Derby winner Thunder Gulch, will be retired because of declining fertility.

Farm owner Will Farish said the farm will offer a 10 percent discount on stud fees paid in full before Nov. 1, 2010.]]> http://www.kentucky.com/101/story/1006436.html http://www.kentucky.com/101/story/1006436.html Thu, 05 Nov 2009 07:12 EST
The Fed said economic activity has "continued to pick up" and that the housing market also has grown stronger, a key ingredient to a sustained recovery.

But Fed Chairman Ben Bernanke and his colleagues warned that rising joblessness and hard-to-get-credit for many people and companies could restrain the rebound in the months ahead.

"Economic activity is likely to remain weak for a time," they said.

Against that backdrop, the Fed kept the target range for its bank lending rate at zero to 0.25 percent. That means commercial banks' prime lending rate, used to peg rates on home equity loans, certain credit cards and other consumer loans, will stay at about 3.25 percent, the lowest in decades.]]> http://www.kentucky.com/101/story/1005842.html http://www.kentucky.com/101/story/1005842.html Thu, 05 Nov 2009 07:07 EST
The restaurant sat on the partially finished Tates Creek Heights development by NUTI Builders. The land was sold by the Master Commissioner of the Fayette Circuit Court on Oct. 26 to the bank that had financed its purchase, PBI Bank of Louisville.

Representatives of PBI Bank and NUTI Builders did not return messages left Wednesday afternoon.

The land sold to PBI Bank for $1.07 million, according to the Master Commissioner.

But PBI Bank had no interest in leasing out the partially finished property, said Summit Restaurant proprietor Wayne Masterman.]]> http://www.kentucky.com/101/story/1005676.html http://www.kentucky.com/101/story/1005676.html Thu, 05 Nov 2009 07:11 EST
The $45 million project patterned after the acclaimed 21c Museum Hotel in a series of (red-penguined) renovated tobacco and bourbon warehouses in downtown Louisville will go in the historic Metropole building.

"Based on our success in Louisville, we realized 21c can enliven the cultural and civic life in urban centers across the country," said Steven Wilson, founder and chairman of 21c Museum Hotels, which are known for their use of contemporary art throughout.

Last month, the 21c in Louisville was named the No. 1 hotel in the United States by the readers of Cond Nast Traveler magazine. 21c is also planning to open a hotel in Austin, Texas.

The 21c in Cincinnati is expected to have 160 rooms, more than 8,000 square feet of free art exhibition space and a restaurant and bar called Proof. ]]> http://www.kentucky.com/101/story/1005399.html http://www.kentucky.com/101/story/1005399.html Wed, 04 Nov 2009 12:54 EST
But those numbers are skewed by more than $150 million in wagering on the Breeders' Cup, which was run last year in October. This year's championships are this weekend, so that two-day wagering bonanza will show up in November numbers.

Almost $933 million was wagered in October 2009, compared to $1.126 billion in 2008. Year to date, $10.6 billion has been wagered, compared to $11.9 billion in 2008, a 10.88 percent drop. Purses in October 2009 topped $105 million over 530 racing days, compared to $125 million over 513 racing days last year.

More than $27 million of 2008's total was paid out at the Breeders' Cup.]]> http://www.kentucky.com/101/story/1005398.html http://www.kentucky.com/101/story/1005398.html Wed, 04 Nov 2009 12:39 EST
Vickey Strunk, asset manager for Richmond Mall, said the space amounts to about 20,000 square feet. The mall plans to keep the theater look and has been in talks, she said, with a company to potentially offer a dinner-and-movie business.

The mall leaders have also been in talks with an educational provider about using the theaters for adult education classrooms, she said.]]> http://www.kentucky.com/101/story/1004162.html http://www.kentucky.com/101/story/1004162.html Wed, 04 Nov 2009 08:08 EST
Fresh from reporting third-quarter earnings, coal producers say booming Asian economies are increasingly hungry for energy even as the hardest-hit mining regions in the U.S. see little prospect for a comeback in coming months.

Big coal producers such as St. Louis-based Peabody Energy and Arch Coal say the rising demand for metallurgical coal, a key ingredient in steelmaking, is largely a foreign phenomenon.

On Tuesday, the top U.S. producer of metallurgical coal, Alpha Natural Resources, said it's planning to up production 1 million tons next year to take advantage and CEO Kevin Crutchfield said orders are starting to come in from Eastern and Western Europe.

America, on the other hand, remains in the doldrums.]]> http://www.kentucky.com/101/story/1004270.html http://www.kentucky.com/101/story/1004270.html Wed, 04 Nov 2009 03:49 EST
The loss in the quarter contrasts with a profit of $945,185 in the same period a year ago.

The drop was driven by "significantly lower commodity prices," CEO William S. Daugherty said in a statement.

Revenue for the quarter totaled $11.2 million, down 53 percent from $23.6 million a year ago.

Daugherty said that despite the difficult economic climate, the company has made progress on several initiatives.]]> http://www.kentucky.com/101/story/1003880.html http://www.kentucky.com/101/story/1003880.html Tue, 03 Nov 2009 20:01 EST
Total sales of cars and light trucks were unchanged at just over 838,000 compared with October of last year, but rose 12 percent from a dismal September 2009, Autodata Corp. reported Tuesday. The results signaled that some consumers are starting to spend again and the sputtering economy is beginning to pull out of trouble.

"It's ... a fairly stable kind of footing that the industry is getting under it," said Gary Dilts, a former Chrysler sales executive who is now senior vice president of global automotive operations for J.D. Power and Associates.

Last month's sales, if projected for an entire year, rose to 10.5 million after slumping to 9.2 million in September, the month after the government's Cash for Clunkers rebates ran out. Analysts said the figures are good for a normally weak October, but they're still far short of the 17 million annual rates from the late 1990s and early 2000s.

"Clearly we're seeing improvement in the economy and in the industry. It isn't huge, but it's a good sign given that Cash for Clunkers is over," said Mike DiGiovanni, General Motors Co.'s executive director of global market and industry analysis.]]> http://www.kentucky.com/101/story/1004016.html http://www.kentucky.com/101/story/1004016.html Tue, 03 Nov 2009 14:19 EST
NuVox, based in Greenville, S.C., operates in 48 locations in southeastern and midwestern states. With the addition of NuVox, business and broadband revenue will constitute more than half of Windstream's total revenue.

The $643 million deal will see Windstream issue 18.7 million shares of stock valued at $183 million and pay approximately $280 million in cash. The company also will assume net debt of about $180 million as part of the sale.

The transaction is expected to close in the first half of 2010, pending approval from federal and state regulators.]]> http://www.kentucky.com/101/story/1002292.html http://www.kentucky.com/101/story/1002292.html Mon, 02 Nov 2009 17:47 EST
Louisville-based Humana said its quarterly revenue rose 8 percent as enrollment in its Medicare Advantage offerings grew 11 percent from a year ago.

But the company saw enrollment in its plans sold to employers fall by 7.6 percent from a year ago, contributing to a pretax loss in its commercial segment during the three months.

Still, the commercial performance was "better than we modeled," Goldman Sachs analyst Matthew Borsch wrote to investors. And Humana predicts pretax income of about $120 million from the commercial segment in 2009.

Slumping enrollment in employer-sponsored health coverage plans has been a problem for several insurers as companies slash jobs and reduce the number of covered workers.]]> http://www.kentucky.com/101/story/1003385.html http://www.kentucky.com/101/story/1003385.html Wed, 04 Nov 2009 18:47 EST
Since early August, Bailey had been on leave because of health issues with family members, primarily her mother, who is now doing better.

"As soon as you get that phone call that there's been an accident, your life changes," Bailey said.

She had asked to go to part-time status before she went on leave, seeking a change in responsibilities.

"Sometimes these things work out for the best," Bailey said. "This really works much better for my family situation right now. ]]> http://www.kentucky.com/101/story/1002773.html http://www.kentucky.com/101/story/1002773.html Mon, 02 Nov 2009 22:03 EST
After closing more than 10 plants and slashing 45 percent of its workforce since 2006 in its long-ailing North American division, the Dearborn-based automaker Monday reported net income of $997 million, or 29 cents per share, compared with a net loss of $161 million, or 7 cents per share, a year ago.

For the first nine months of the year, Ford has now posted a $1.8-billion profit. That's a $10.6 billion improvement from the like period a year ago.

Even the company's long-struggling North American division reported a pretax operating profit of $357 million - its first profitable quarter since the first quarter of 2005. The company improved its cash position by $2.8 billion, ending the quarter with $23.8 billion in cash.

What's more, Ford said it "expects to be solidly profitable in 2011," excluding special onetime charges, "with positive operating-related cash flow."]]> http://www.kentucky.com/101/story/1003376.html http://www.kentucky.com/101/story/1003376.html Tue, 03 Nov 2009 01:26 EST
The Federal Trade Commission has long believed that Experian, which owns freecredit report.com, is deliberately diverting people from a government-mandated site where consumers can get free credit reports by law, and using the reports as a lure for a $14.95 monthly service that alerts subscribers to important changes in their credit status.

But while the government has taken issue with the ads, it has had little to say about credit monitoring services themselves, a rapidly expanding niche approaching $1 billion. The problem, say critics, is that most people really don't need it.

Keeping a close eye on your bills and checking your credit report several times a year is enough, they say.

And that can be done without spending a penny because the government requires the three major credit bureaus Experian, Equifax and TransUnion to provide one free report annually to consumers.]]> http://www.kentucky.com/101/story/1002067.html http://www.kentucky.com/101/story/1002067.html Mon, 02 Nov 2009 08:09 EST
Circuit City's bankruptcy left a hole in Hamburg and along Nicholasville Road.

So, too, did the bankruptcy and closing of Linens 'n Things.

Goody's. Dawahares. S K Menswear. The list goes on.

But as signs mount that the economic hardships might be abating, so, too, have come the signs that retail might be recovering.]]> http://www.kentucky.com/101/story/1002072.html http://www.kentucky.com/101/story/1002072.html Mon, 02 Nov 2009 01:31 EST
They're pedicabs generally foot-powered tricycles with compartments holding two or three passengers and now Lexington, like many major cities in the world, has them.

Since August, Sprocket Jockeys has been pedaling along downtown Lexington and the campuses of the University of Kentucky and Transylvania University.

It's hard to miss them, but if you have, it's probably because you're not a night person. The pedicabs, which are complete units, not bicycles with trailers, run from 9 p.m. to 4 a.m. Thursdays through Saturdays. They are also out and about at other times for special events and are available by appointment.

"You can imagine the 1:30 to 4 a.m. crowd. I've been serenaded going down the street," said Lauren Pfannerstill, who operates the service along with James Gonyer. The pair hope to keep running the pedicabs even in the winter months "to a point," Gonyer said.]]> http://www.kentucky.com/101/story/1000315.html http://www.kentucky.com/101/story/1000315.html Mon, 02 Nov 2009 06:09 EST
Jennifer Palumbo will once again co-anchor the news with Marvin Bartlett, returning to the position she held from 1997 to 2002.

Since 2007, Palumbo has been on the Fox-56 Morning Edition at 7 a.m. She was lured back by WDKY for the show after leaving television in 2005 to spend more time with her family.

"I have loved everything about the morning show except for the 4:30 a.m. alarm going off," she said last week. "I have never been a morning person, and never will be, so the night shift is better suited for me."

Palumbo has been working part-time, which allows her to spend time with her husband and two children, ages 3 and 4.]]>