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Local high-techs receive state boost
A pair of Lexington-area high-tech companies received a helping hand from the Kentucky Economic Development Finance Authority with the approval of forgivable loans.
ALT BioScience LLC will receive $150,000 to apply to the purchase of IT gear it needs to pursue products designed to combat bad breath and periodontal disease. The company plans nearly a dozen new salaried positions averaging $144,000 annually.
ALLTranz LLC, a pharmaceutical company developing methods of producing drugs that can be absorbed through the skin, received a line of credit for up to $500,000 for equipment purchases. ALLTranz expects to add some 30 positions by 2012. The average salary for those jobs is anticipated to fall into the $80,000 range.
Lexington's iLor sues Google
Lexington software company iLor, LLC is suing Google for allegedly infringing on a patent for enhanced hyperlinks, according to www.google-watch.org.
Ilor is seeking unspecified damages, arguing that the search company was infringing on a patent titled, "Method for adding a user selectable function to a." The United States Patent and Trademark Office issued the patent to iLor on April 17, the same day the lawsuit was filed.
According to Google Watch, iLor has no prior history of federal litigation in Kentucky.
Webology's Clark in Wall Street Journal
Business Lexington Webology columnist and internet marketing consultant Scott Clark is featured in an article on the front page of the Marketplace section of the April 24 Wall Street Journal. The article looks into entrepreneurs who have determined they can live without an internet presence.
Not all, it seems, find this true. Pat Bardo, owner of the Lexington arts and apparel boutique Outside the Box, had been among those forgoing a Web presence until recently deciding it was time for a change. Bardo turned to Clark's Site Creations after searching unsuccessfully for a site designer who could deliver on his or her promises. According to the article, Scott stood out from the rest because, "He didn't intimidate her with confusing language or make grandiose promises." Instead, the article said, "Clark offered up a comprehensive plan to design and market the Web site within her budget."
Is finding your name on the front page of a popular section of the WSJ a "make my day" kind of thing for Clark? "The WSJ Marketplace Section is widely read, to put it mildly," he said. "So a favorable mention certainly made my day. My phones and Web site have had a good workout."
Despite lower earnings, Lexmark happy with Q1
Lexmark CFO John Gamble told Business Lexington that results from the first quarter of '07 showed the company was pointing in the right directions despite a drop in earnings from the same quarter of '06.
Revenue in the first quarter was $1.261 billion, down a percent from Q1 of 2006 when the Lexington-based printer manufacturer took in $1.275 billion. Stockholders saw $.95 per share revenue in the first quarter, up from $.78 during the same span in 2006. Revenues from this quarter were docked a penny per share as part of a restructuring process the company previously entered into.
Gamble said the second quarter's restructuring costs will end up having a "net zero" effect thanks to other factors in the company and shareholders should expect a nickel per share cost in the last two quarters of the year.
Lexmark's OEM business — in which other companies place their brand on Lexmark products — proved to be a drag on profits this quarter Gamble said, but products bearing the Lexmark brand proved fruitful.
"In consumer (segments), we did have revenue decline; it was both supplies and hardwareThe good news there is we had branded hardware unit growth for the first time in quite sometime," Gamble said.
In the coming months, Lexmark plans to put more money into the people side of the organization, putting resources into marketing, sales and advertising, Gamble said.
Lexmark wins top environmental certification
Lexmark International Inc. has been certified as a Master member of KY EXCEL, the highest level of the nationally recognized environmental leadership program implemented by the Kentucky Department for Environmental Protection.
To attain it, Lexmark had to demonstrate comprehensive environmental management planning, submit to an independent third-party assessment of its environmental management system and commit to and report on at least four voluntary projects to benefit the environment.
Wheat loss from freeze close to $63 million
Kentucky winter wheat producers could lose as much as $63 million as a result of crop damage from freezing temperatures in early April. Apple, peach and grape growers estimate losses of 90 percent or greater. And the state's first alfalfa cutting of the season suffered significant damage.
Chad Lee, assistant extension professor for grain crops, said UK expects at least 70 percent of Kentucky's winter wheat crop will not be kept for grain, not including losses on wheat straw contracts.
Farmers with crops affected by the freeze can sign up for emergency loans through local Farm Service Agency offices. Affected producers may be eligible for emergency loans if their counties are declared disaster areas. The U.S. Department of Agriculture is considering a request by Governor Fletcher to provide disaster assistance for Kentucky farmers.
Humana launches new wellness program
Humana's newly launched SmartResults program offers member companies a risk free program aimed at getting a healthier workforce. Companies will see their annual medical-claims results at the level predicted by Humana, or they'll get up to 40 percent of the fees Humana charges to administer their benefits program.
United States self-funded employers with 300 or more workers are eligible for the new three year program.
From 2002 through 2006 Humana customers enrolled in the company's SmartSuite saw healthcare costs rise by 4.2 percent while nationally companies saw an increase closer to 11 percent.
Transy makes the cut
Transylvania University has made the Princeton Review list of the nation's best value undergraduate institutions. The education services company features Transylvania in the 2008 edition of, "America's Best Value Colleges." The guide profiles 165 colleges selected for excellent academics, generous financial aid packages and/or relatively low tuitions.
The Princeton Review's editors commend Transylvania for its small classes, its "unparalleled preparation and advising for all pre-professional programs" and high medical and law school acceptance rate. Transy's location and extensive scholarship and financial aid opportunities also were noted.
Criteria include more than 30 factors covering four areas: academics, tuition GPA (the sticker price minus average amount students receive in scholarships and grants), financial aid (how well colleges meet students' financial need) and student borrowing.
WoodSongs on PBS
The WoodSongs Old-Time Radio Hour, already broadcast on radio, cable and the Internet from the Kentucky Theater in downtown Lexington, is now available to PBS television affiliates.
Producer and host Michael Johnathon said he had hoped to launch with five stations and was pleased to learn from PBS that 17 had signed-on. According to PBS, that provides a potential audience of 22 million U.S. households. The show is targeting growth to 95 television markets.
Toyota web site gets makeover
What does Toyota Motor Manufacturing, Kentucky, Inc. (TMMK) have in common with the late writer Kurt Vonnegut and Gonzo artist Ralph Steadman? New media consultant R.F. Sharp, the brains behind the automaker's redesigned and expanded Web presence on its existing Web site (toyotageorgetown.com).
It's only fitting that Toyota is sprucing up its Web presence after surpassing GM in the first quarter to become the planet's number one automaker.
In addition to information on the Georgetown plant and the vehicles made there, the site features sections about TMMK's role in the community and its commitment to the environment. Visitors interested in Toyota's Hybrids will find a special section devoted to this technology. The site also offers a virtual tour of the Georgetown plant.
Sharp, whose clients have included Vonnegut and Steadman, developed and designed the site, working in close collaboration with TMMK staff.
Kentucky Horse Park launches new Web site
A process more than a year in the making has given the first state agency with Web presence a top-notch interactive Web site designed to keep visitors glued to their computers.
The site, www.kentuckyhorsepark.com, was launched in late April after a year collaboration between Horse Park officials and designers at Lexington-based Elevation Creative Studios.
To read everything on the site — which includes interactive maps of the park — would require around a full day's work, Elevation's David Wilson said at a reception celebrating the launch of the site.
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