Economy

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.

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.

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.

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.

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.

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