Business

Business news

A former financial planner for the Kentucky Pension Systems says an international banking scandal is leading to millions of dollars in losses for Kentucky agencies. Financial analyst Chris Tobe believes the pension systems have lost money due to the false interest rates associated with the LIBOR banking scandal.

The Better Business Bureau is warning area consumers to beware of criminals who are hijacking online car ads.  Some scam artists are offering to sell cars at below-market prices as part of the ploy.

The Environmental Protection Agency is reviewing part of a controversial rule that sets the first federal standards to reduce toxic air pollution from power plants. The controversial rule was issued in December. Its aimed at curbing mercury and other toxic pollutants from coal and oil-fired power plants.

Supporters of instant racing in Kentucky are once again trying to take their case to the state supreme court. Instant racing games allow players to wager on previously-run horse races using slot-machine like-devices. The Franklin Circuit Court previously ruled that the games are legal, but an appeals court sent the decision back, saying  the anti-gambling Family Foundation should've been allowed to gather evidence in the case.

The Kentucky Chamber of Commerce is taking a firmer stand on conservative issues. Republican legislators have criticized the chamber in the past for supporting Democratic-led proposals like expanded gambling and a higher dropout age while staying quiet on so-called right to work and prevailing wage laws.

A Hancock County aluminum smelter is warning it might have to shut down its 700-employee operation if it can't negotiate better electric rates. Century Aluminum and power producer Big Rivers Electric Corporation appear to be at an impasse in their efforts to find a solution.

Thousands of 2013 Ford Escape vehicles produced in Kentucky are being recalled by the automaker. The vehicles have carpet that could interfere with breaking, and came off the assembly line between March 8 and June 7.

Business and government leaders say some utility customers in Kentucky have been contacted regarding a phony scheme designed to steal the Social Security numbers of those who participate. Attorney General Jack Conway says victims are told that a new federal bail-out program will pay their utility bills for them, but no such program exists. Conway says the people behind the fraudulent activity are giving out false bank routing numbers in an attempt to get personal information from their victims.

Patriot Coal Corporation filed for Chapter 11 bankruptcy this week as it deals with reduced demand for coal and rising costs. Patriot has three operations in Henderson and Union counties in western Kentucky.

Ky Sec. of State's Office

State officials in Kentucky say more than 150,000 businesses in the state met the July 2nd deadline for filing annual report information with the Secretary of State's office. However, 37,000 didn't meet the deadline and are now listed as no longer "in good standing."  Those who failed to file in time still have sixty days to take care of the report.

The Better Business Bureau says an organization identifying itself as the "Soldier Relief Fund" has been contacting some local businesses, asking for donations to sponsor a soldier for a one hundred dollar phone card. The consumer protection group says the founder  of the fund was charged with fraud last year in connection with a charity scam in Indiana.

Kevin Willis

The bad national economy hasn't put a dent in one of Kentucky's signature exports. In fact, bourbon production has increased 115% over the past 13 years, according to Eric Gregory, president of the Kentucky Distillers Association.

Kentucky Governor Steve Beshear has signed a bill into law that’s designed to spur investments in the state’s automotive and parts manufacturing facilities. The bill amends the 2007 Kentucky Jobs Retention Act to allow manufacturers involved in the auto industry to request incentives, regardless of their location in the state.

Online retailer Amazon is now taking applications for about 15-hundred jobs at its new fulfillment centers in Lebanon and Murfreesboro.  Tennessee Career Center locations throughout Middle Tennessee are holding initial screenings and scheduling interviews through July 13th.

The Owensboro region is on a list for the top areas for job growth in the nation. The Owensboro metropolitan statistical area ranked 25th on a list compiled by Area Development magazine.

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