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Exstream Software scores major investment
American Capital Strategies Ltd. (Nasdaq:ACAS) has invested $548 million in the recapitalization of Exstream Software LLC, the Lexington-based provider of enterprise software for the rapid design and delivery of personalized communications. The investment takes the form of a senior term loan, senior and junior subordinated debt and convertible preferred and common equity. American Capital is also providing a revolving credit facility. Exstream's founders and other management are also making a significant investment in equity alongside American Capital, retaining more than 40% ownership of the Company on a fully diluted basis through reinvestment and a new option program. There will be no change to the leadership or strategic direction of Exstream post-close.
Creation Technologies Acquires SMC
Creation Technologies, a manufacturer of complex electronics products, has acquired SMC, Inc. of Lexington. The Vancouver-based company also finalized its acquisition of Taytronics, Inc. of Saint Peter, Minnesota. Creation officials said the acquisitions mark the fourth and fifth in a series of acquisitions the company has made in the past four years.
Shelbourne Plaza goes back to the drawing board
Plans for the South Broadway mixed-use development Shelbourne Plaza have been altered a bit according to Guy Totino, president of Polaris Real Estate Equities, the property's developer.
"We've revised our site plans slightly and (we planned to resubmit) that to the city planning commission (on Aug. 3) and we hope to get things back on track and we'll start construction later this year," Totino said.
Harold Tate, president and executive director of the Downtown Development Authority, told a meeting of downtown merchants that the plan for retail space at Shelbourne Plaza had been scaled down from 85,000 square feet to 50,000.
When asked if that was the case, Totino said: "That's approximately right, we're really not through all those details yet, so I would rather not speak to them until we finalize the site plan."
Totino said the group hopes to have the go ahead for the altered site plan from the planning commission in early September.
"Most (of the changes to the original plan) are technical in terms of the amount we're excavating and things like that trying to make the project more feasible," he said.
Coming soon: More downtown news
Mayor Jim Newberry and Congressman Ben Chandler planned a press conference for Monday, Aug. 13 to discuss developments in downtown Lexington. Congressman Chandler, a member of the House Appropriations Committee, has championed the concept of creating a linear park in the Vine Street corridor in time for the World Equestrian Games in 2010. A spokesperson for his office, however, could not confirm that the park concept would be the topic of discussion.
Gatton offering 10-session BA certification
UK is offering a Certificate in Business Administration in a 10-session program designed to provide the tools to sharpen business skills and introduce new concepts to better prepare for today's business world.
The Certification begins Thursday, September 6, 2007 with each three-hour session to be held at the University of Kentucky Gatton College of Business and Economics from 5:30 — 8:30 p.m. Students will hear from guest speakers and distinguished faculty and members from the Gatton College of Business and Economics speaking on such topics as:
• Individual Behavior in Organizations
• Essentials of Marketing
• Accounting Measurement and Reporting
• Financial Decision Making
• Strategic Management
More information and registration are available online at www.gattonibmc.org
Seminars aim to instill financial intelligence
The Kentucky Higher Education Assistance Authority (KHEAA) and The Student Loan People have partnered to offer free "It's Money, Baby" seminars to help Kentucky high school and college students make smart financial decisions.
The seminars focus on such essential skills as creating a budget, balancing a checkbook and using credit cards responsibly.
"Financial problems distract students from their schoolwork. The majority of freshmen come to campus with little practical financial knowledge, such as how to balance a checkbook or create a budget," University of Louisville (U of L) Financial Aid Director Pat Arauz said. "Students need this knowledge to be successful in school. They need to make the financial aid they receive last for the entire semester and make sure they're not taking on too much debt, especially credit card debt."
Schools interested in having an "It's Money, Baby" presentation may call (800) 928-8926, Option 0. Students and parents can access the "It's Money, Baby" booklet online at www.kheaa.com/pdf/ItsMoneyBaby.pdf.
KHEAA is the state agency that administers the Kentucky Educational Excellence Scholarship (KEES), need-based grants, and other student aid programs and guarantees Federal Family Education Loans to help Kentuckians pay higher education expenses. The Student Loan People is KHEAA's sister agency and Kentucky's only public, nonprofit student loan provider.
Scam sites removed by host servers
The Web sites for two companies involved in an apparent illegal loan scam were removed, according to a press release from The Kentucky Office of Financial Institutions (OFI).
The sites were removed after OFI served subpoenas on the two Internet service providers hosting the sites. The providers then removed the sites for Kentucky Title Loans Inc. (www.ktlinc.net) and World Financial Solutions (www.never-sayno.com).
The OFI release said the two companies apparently are not legitimate Kentucky lenders and appear to be using names of former Kentucky businesses that are now defunct. The Web sites purported to offer loans at reasonable rates. However, the companies required an up-front payment, and consumers reported that after sending the money to addresses in Canada, they never received a response or a loan.
Officials at OFI said the practice appeared to be a variation of a common loan scam called an advance fee scheme.
Lake Cumberland water level — see for yourself
State tourism officials are out to show the world that Lake Cumberland, lowered for repairs to a leaky dam, still has plenty of water for all kinds of recreation. Six Web cams have been placed at key locations and are now showing anyone with Internet access that Lake Cumberland is full of water. Some of the cams offer multiple views and are real time.
"These are live pictures," said Kentucky Tourism Commissioner Randy Fiveash. "So these are guaranteed to give an accurate look at what visitors will see when they come to Lake Cumberland, these Web cams provide visual proof of what they will experience."
To view, go to http://www.kentuckytourism.com/. Click on the "Visit Lake Cumberland" icon on the left side of the screen, and the following Web cam scenes are available:
• Grider Hill Dock and Indian Creek Lodge.
• Near the Waitsboro Recreation Area, sponsored by Key Associates Waterfront Realty
• Conley Bottom Resort
• Jamestown Resort Marina, from the motel island looking ESE out to the main lake.
• State Dock harbor, from the dock looking NW out to Greasy Creek.
• Ford Marina
Filmmakers Studio offered during ideaFestival
The Kentucky Film Lab (KFL) is accepting applications for its fall Filmmakers Studio to be held September 14-16 (Friday-Sunday) in Louisville, Kentucky. The program is being offered in conjunction with the 2007 ideaFestival (Thursday-Saturday). The KFL is a non-profit initiative serving Kentuckians interested in cinematic arts, media literacy or simply improving their communication skills.
The Studio offers two tracks to emerging and established filmmakers: screenwriting and production. In the morning general session, all participants will enhance their understanding of the critical elements of filmmaking through roundtable discussions with filmmakers from Hollywood and New York. The afternoon breakout sessions provide a hands-on, project-based approach to screenwriting, producing, lighting, directing talent and cinematography.
Participants in the Filmmakers Studio will receive discounted registration for all other ideaFestival events.
Registration information is available online at www.kyfilmlab.com. Go to the Filmmakers Studio link to sign up. For additional information please contact Arthur Rouse, KFL Director, arthur@kyfilmlab.com.
Ballet has new home
Bluegrass Youth Ballet is ready to show off new digs. The reconstructed building at 1595 Mercer Rd. was opening on Sunday, August 12th with a ribbon cutting ceremony, free demonstration classes and performances and facility tours.
The 9,000 sq. ft. facility includes three dance studios with sprung floors and high ceilings, a boutique, an art studio, two music rooms, a play area for children, a waiting area/library for adults, numerous offices, a lounge with a kitchen, a sewing room, and a storage room that has ample space for sets and prop construction.
Named CulturARTE, the non-profit center will provide space for any artist who would like to teach, perform, demonstrate, or practice their art.
Director Adalhi Aranda Corn is purchasing the building for CulturARTE together with her husband, Duane Corn, and with the help of some individuals from the Lexington community.
Their vision is something that resembles the Casas de Cultura (or Culture Houses) in Mexico, Mrs. Corn's native country. These buildings provide classes to the general public in a variety of arts disciplines at low costs.
CulturARTE will open with dance programs such as Classical Ballet, Conditioning, Modern, Jazz, African Dance, Irish Step Dance, Musical Theatre and Hip Hop. Classical Guitar lessons will be offered by Duane Corn, massage services will be available, and workshops in Indian Dance, drama, and language classes will occur periodically.