Newberry joins push for "Main Street" stimulus
Mayor Jim Newberry joined mayors across the United States arguing that Washington has bailed out Wall Street, now it's time to help Main Street.
Newberry has joined an effort by the U.S. Conference of Mayors to persuade Congress to pass a "MainStreet Stimulus" package that would help local governments and the private sector create jobs and spur economic growth.
"Lexington's city budget is tight and getting tighter," Newberry said. "We are not meeting revenue projections in the current budget year and, in looking ahead to the budget we will begin preparing in January for the 2010 fiscal year, we are anticipating that revenue growth will be flat and that means considerable cuts, even in basic services."
Like many local governments, Lexington's city budget is closely tied to the performance of the economy. "About 83 percent of the revenue in our general fund budget comes from the payroll tax and other similar taxes, which are directly dependent upon the economy," Newberry said.
Nov. 7 was the deadline to submit requests for projects that can be completed by the end of 2009 for inclusion in the stimulus package request the Conference of Mayors will press with Congress. Requests target infrastructure, environmental initiatives, mass transit, schools, public safety, economic development, technology, community development, roads and affordable housing.
Lexington submitted requests for projects totaling approximately $125 million. "These aren't luxury items," Newberry said. "These requests represent pent-up needs for the basics. The city has been deferring maintenance and watching demands for service outpace revenue for many years."
The list of requests for Lexington included funds for: new police positions; a new police roll call facility; wastewater treatment plant upgrades; equipment to compost food waste; clean diesel buses; airport terminal and runway improvements; and downtown improvements.
Popular bull may be culprit in Angus production scare
Reminiscent of the Foal Death Syndrome that struck the thoroughbred industry back in the early 2000's, Angus breeders in central Kentucky are being urged to stay informed as researchers race to determine the source of a deadly genetic defect that is causing still-births.
Researchers believe the defect, known as "Curly Calf Syndrome" is caused by a simple recessive gene. Early research information traces the syndrome back to GAR Precision 1680, a popular Angus bull owned by Select Sires of Plain City, Ohio.
"This is a serious situation that Angus breeders and the American Angus Association are diligently working to resolve," said University of Kentucky Extension Beef Specialist Darrh Bullock. "There is no need to panic and drastic measures should be avoided until more information is known."
Bullock encourages beef producers to continue checking the current status of ongoing research at the American Angus Association's Web site at www.angus.org/.
Researchers emphasize that there is virtually no impact on the safety of Angus beef for human consumption.
Economy takes toll on local radio
The economic downturn has hit hard at Cumulus Broadcasting's Lexington radio station WVLK. The company has been laying off staff at stations around the country. Among those terminated in Lexington is Robert Lindsey, longtime operations manager and program director for WVLK-AM and two of the station's three news department staffers: Joe Gillespie and Kendra Steele. Scott Johnson remains to preside over a one-person news department. Talk show hosts Jack Pattie, Dave Krusenklaus and Sue Wiley were retained, as well. Atlanta-based Cumulus is the second-largest radio company in the United States based on station count.
Crouch retained at Georgetown College
The Board of Trustees of Georgetown College has approved a four year extension of the College's contract with President William H. Crouch, Jr. The contract which was set to expire on June 30, 2009. Crouch became Georgetown's 23rd president in 1991.
Farmers Capital Bank Corporation affiliates merge
The merger of Farmers Bank and Trust Company, Georgetown, Citizens Bank of Jessamine County, Nicholasville, and United Bank & Trust Co., Versailles into "United Bank" was finalized November 1, 2008.
The merged entity has an asset base of $762 million and deposits of $549 million. United Bank now has 14 branch locations and 39 ATMs in Fayette, Scott, Woodford, and Jessamine counties. This includes 21 free-standing ATMs located in Fayette County that may be utilized by our customers at no cost through our affiliation with Bluegrass Cash at participating Shell Food Mart stores.
The three banks have been affiliates of the Farmers Capital Bank Corporation (NASDAQ: FFKT) family for years. Farmers Capital is one of the oldest and largest banking groups in the state. The merger of the three banks, which are in contiguous counties, now allows customers to access their accounts at more locations. While the majority of existing employees will remain in their current positions and locations, cost savings should be realized over time through the consolidation of operations and the realization of significant operational efficiencies.
Lexington Clinic campuses to become tobacco-free
Lexington Clinic will become tobacco-free on November 20. The policy launch, timed in conjunction with the American Cancer Society's Great American Smokeout prohibits the use of tobacco products by all employees, physicians, visitors, patients, volunteers, vendors and medical staff anywhere on the campus or on any sites operated by Lexington Clinic. The prohibition applies to smoking in personal vehicles on the property, as well as on any sidewalks or streets within the boundaries of the campus.
To help employees make the transition, Lexington Clinic is providing free smoking cessation classes.
According to the Kentucky Department for Public Health, the use of tobacco products accounts for almost 7,700 deaths a year in Kentucky and 400,000 deaths nationwide. The Surgeon General reports that second-hand smoke causes 35,000 - 45,000 deaths each year nationally from heart disease and another 3,000 deaths from lung cancer in nonsmokers. Additionally, the Surgeon General claims that the risk of developing heart disease increases by 25-30 percent and lung cancer by 20-30 percent when nonsmokers are exposed to second-hand smoke at home or at work.
Lexington businessmen documenting endangered bears
Lexington businessmen Andrew Fore and Tom Myers are off to polar bear country. Fore, Marketing Director at Adcolor, Inc. and Myers, owner of All-Rite Pest Control also have their own photography businesses. They've taken their talents with the camera to the Manitoba tundra of Canada to spend nine days documenting the endangered polar bear in its native environment.
The father and son-in-law team will share their results in a forthcoming edition of Business Lexington.
UK Students in prestigious national business competition
The University of Kentucky's Gatton College of Business and Economics has been invited to compete in the prestigious Wall Street Journal National Biz Quiz at Ohio State University Nov. 15-16.
It's a first for UK. The Gatton team includes Mark Spurlin, a senior from Danville who is double majoring in finance and management; Ryan Hayes, a senior from Frankfort who is majoring in decision science and information systems with a minor in international business; and Jeffrey Howard, a sophomore from Louisville majoring in accounting and minoring in international business. They will be competing against squads from Southern Cal, Texas, Emory, Arizona, Indiana, Maryland, Michigan, Notre Dame, Penn State, and host Ohio State.
National Geographic ranks Lexington
So, how're we doing? Lexington's Horse Country ranks number 46 out of 109 places rated in National Geographic Traveler's 5th annual Destination Scorecard. The article, featured in the November/December issue, looks into how well historic places around the globe withstand a variety of external influences such as mass tourism, wrecking balls and neglect to retain a sense of place.
An international panel of 280 experts evaluated places around the world for environmental and ecological quality; social and cultural integrity; condition of historic buildings and archaeological sites; aesthetic appeal; quality of tourism management; and outlook for the future.
Based on the results, places were then assigned to one of five categories: Best-Rated Places; Places Doing Well; Places in the Balance; Places with Troubles; and Worse-Rated Places.
Old Lexington, Horse Country was placed in that second category - - "Places Doing Well" - - described as a city that retains a sense of place with a few surmountable problems.
Business Lexington Monday Memo debuts on WTVQ
Business Lexington has entered into a partnership with WTVQ News to provide a business news segment for the station's "Good Morning Kentucky" segment each Monday. The segment will also appear on the publication's website at bizlex.com.