Economy

Economy
1:31 pm
Fri March 9, 2012

New Hotels Headed to Downtown Owensboro

GO-EDC President Nick Brake
wku public radio

Owensboro leaders announced Friday a project that will invest 44 million dollars in the city's downtown area. A key portion of that investment will be a new convention class Holiday Inn hotel, to be located on the west side of the newly planned convention center. In addition,  Boardwalk Pipeline Partners LP has come to a preliminary agreement with the Riverfront Jam, LLC developers to relocate the Owensboro office to a downtown location.

Read more
Electronic Payment Deadline of March 1, 2013
8:42 am
Wed March 7, 2012

Electronic Payment to be Required for Social Security Benefits

Officials with the U-S  Treasury Department are trying to alert people who receive paper checks for Social Security benefits that they must switch to electronic payment by March first of 2013. Walt Henderson, the Director of the E-F-T Strategy Division of the U-S Treasury's Financial Management Service, says about fifteen percent of the recipients in Kentucky still receive paper checks and will need to make the change.

Concerns over High Fuel Prices
7:23 am
Sun February 26, 2012

Congressman Guthrie Says Consumers are Concerned about the Impact of Higher Fuel Prices

Second District Congressman Brett Guthrie of Kentucky says he's heard plenty of constituents expressing concern about higher gasoline prices in recent days. The Republican from Bowling Green says the higher prices at the pump are difficult for consumers to accept in an already troubled economy.

Read more
Concerns over High Fuel Prices
6:09 am
Sun February 26, 2012

Congressman Guthrie Says Consumers are Concerned about the Impact of Higher Fuel Prices

Second District Congressman Brett Guthrie of Kentucky says he's heard plenty of constituents expressing concern about higher gasoline prices in recent days. The Republican from Bowling Green says the higher prices at the pump are difficult for consumers to accept in an already troubled economy. He says the higher fuel prices are also being felt in the trucking industry, and he warns that increases in shipping costs  could lead to higher costs for numerous products, from manufactured goods to groceries. 

Economy
12:30 pm
Thu February 23, 2012

US Postal Service Plans to Close Eight Processing Centers in the Bluegrass State

In a statement released today the US Postal Service says it will close eight mail processing centers in Kentucky, including locations in Bowling Green, Elizabethtown, London, and Somerset. The processing work currently done at those centers will be processed at facilities in other cities in the future.

Read more
Gasoline Prices Jump
2:08 am
Thu February 23, 2012

Petroleum Analysts Say Gas Prices Could Move Higher in Upcoming Days

Some petroleum industry analysts say the higher prices on gas pumps in the region may not have hit their peak yet. Upward movement was reported during the day yesterday, with retail prices hitting $3.75 per gallon at several stations in Bowling Green. Gasbuddy.com analyst Patrick DeHaan predicts the upward pressure could continue through the end of the week.

Read more
Homeless Shelters Need Donations
7:08 am
Tue February 21, 2012

Benefit Gala is Scheduled to Help the Homeless in Owensboro

The Owensboro Museum of Fine Art will be the site of the Benefit Gala.
Owensboro-Daviess County Tourist Commission

James Barnett of the Daniel Pitino Shelter in Owensboro says his agency is seeing more "first-time" homeless than ever. Barnett says the difficult economy has forced people who had never sought assistance in the past to ask for help.

Read more
Mortgage Crisis
7:45 am
Fri February 10, 2012

Kentucky to get Nearly $60 Million from Mortgage Agreement

A nationwide foreclosure settlement with five major mortgage lenders means thousands of Kentuckians will receive direct payments, loan modifications, or principal write-downs. Kentucky was one of the last states to agree to the $25 billion deal with Bank of America, Chase, Wells Fargo, Citi, and Ally Financial. Attorney General Jack Conway says the Commonwealth will receive $58.8 million of the settlement.

Read more
US Housing Market
10:03 am
Tue February 7, 2012

Kentucky Not Currently Part of Settlement over Foreclosures

More than 40 U.S. states have agreed to a nationwide settlement over foreclosure abuses. The deal would force the five largest mortgage lenders to reduce loans for about 1 million households.

Read more
Economy
12:53 pm
Fri February 3, 2012

Have Economists Got It Wrong About The U.S.?

Federal Reserve Chairman Ben Bernanke pauses during a hearing before the House Budget Committee on Feb. 28, 2007.
Alex Wong Getty Images

Originally published on Fri June 22, 2012 10:23 am

Five years ago, a subprime mortgage firestorm was melting down the U.S. economy, but most analysts didn't see it happening.

Federal Reserve Chairman Ben Bernanke, testifying before Congress in February 2007, said the housing sector "is a concern, but at this point we don't see it as being a broad financial concern or a major factor in assessing the course of the economy."

If he and the vast majority of economists were blind to the economic and financial calamity taking shape then, could they also be missing the start of a huge economic boom now?

A boom? Really?

Read more

Pages