Business Notes


Trade show manager named for 2010 Games

The World Games 2010 Foundation announced Thursday that HorsePower Inc. will manage the trade show at the 2010 Alltech FEI World Equestrian Games. Based in Denver, HorsePower is an equine event management and marketing firm that specializes in international productions. Joe Garant has been named by HorsePower as the on-site manager of the trade show at the Kentucky Horse Park. Garant has worked with such companies as Ford, Ferrari, Prada and Ritz-Carlton during his career in hospitality and event services. More than 170 of the estimated 400 trade show spaces have been reserved. The Games will begin Sept. 25, 2010, and continue for 16 days. More than 600,000 tickets are expected to be sold to the Games' equestrian events.

Fasig-Tipton yearling sale down

The three-day yearling sale at Fasig-Tipton ended Wednesday down significantly from the same sale in 2007, mirroring the trend at many horse sales around the world. The sale in Lexington grossed $7,471,900 for 553 horses over three days, and 306 horses went through the auction ring without selling. The total number of horses sold was only 13 fewer than the two-day sale in 2007, but the cumulative sales dropped 29.5 percent (from $10,595,700) and the "buy-back rate" of horses not reaching their reserve price to sell rose from 20.3 percent last year to 35.6 percent this year. The average price declined 27.8 percent, from $17,720 to $13,512; the median price fell 45 percent, from $10,000 to $5,500. The top seller of the final day was a colt by Wildcat Heir from the consignment of Wendy Noel Sales, agent. Elwaleed Mousa bought the colt for $107,000. Mousa also had bought the second-highest-priced yearling in the second session, a Dixie Union colt from the Middlebrook Farm consignment, for $260,000.

Louisville-owned plant to close

An auto parts plant in northwest Ohio is shutting down, taking away about 200 jobs. Sypris Technologies in Kenton, which employed 1,200 people two decades ago, will close by May. The company owned by Sypris Solutions of Louisville makes axles for tractor-trailers.


Coal gasification plans slowed

Credit woes have dealt a major setback to Consol Energy's plans for an $800 million plant capable of converting coal into methanol and 100 million gallons of gasoline annually. Consol remains committed to building a coal gasification plant in northern West Virginia, but will be looking for a new technology partner, spokesman Tom Hoffman said Thursday. Houston-based Synthesis Energy Systems Inc. has allowed its development agreement with Consol to expire, saying it can't secure financing in the current credit market.

Scion ranks highest in reliability

Toyota Motor Corp.'s Scion brand topped the list of most reliable cars in Consumer Reports' annual vehicle reliability rankings released Thursday. In this year's study, the top brands were Scion, Honda, Toyota and Lexus. The study compiled responses from Consumer Reports readers for more than 1.4 million vehicles during the spring of this year, using the results to predict reliability of 2009 models. Chrysler LLC vehicles saw their scores fall sharply from 2007, while Ford Motor Co.'s nameplates gained ground over their Detroit rivals.

Compiled from Staff, wire reports