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Sun, Jul 05 2009 

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TIM PRESTON: Country roads, pizza hunt and small business awards 070509
I had the day off Monday and was determined to do something fun and completely unrelated to work.

Bankruptcy filings: 7/1/09

Bankruptcy filings: 6/12/09

Jobless rate hits 9.4 percent in May; layoffs slow
With companies in no mood to hire, the unemployment rate jumped to 9.4 percent in May, the highest in more than 25 years. But the pace of layoffs eased, with employers cutting 345,000 jobs, the fewest since September.

General Motors files for bankruptcy and a new start
General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration's plan to shrink the automaker to a sustainable size and give a majority ownership stake to the federal government.

TIM PRESTON: What a treat 052409
I haven’t come across any new restaurants in recent weeks and have decided to begin writing notes about existing places to eat which may not be familiar to everyone. I’m also recruiting anyone who wants to volunteer their help with this one, and already have a couple of secret agents making lists of their favorite places to eat in Carter County.

Automakers, Obama announce mileage, pollution plan
President Barack Obama outlined Tuesday the nation's first comprehensive effort to curb vehicle emissions while cutting dependence on imported oil, calling the plan an historic turning point toward a "clean-energy economy."

Nissan hopes to catch up in hybrid vehicle market
Hybrid vehicle laggard Nissan hopes to catch up with its Japanese rivals after launching the company's own green car technology next year, an executive said Tuesday.

Carbon tax plan could increase power bills
Power costs in Kentucky and Illinois would shoot up under federal carbon tax legislation targeting states heavily dependent on coal-fired electricity.

Sun Chemical workers to be furloughed
Sun Chemical will temporarily close its pigment plant here to adjust to inventory

TIM PRESTON: Free air and the big breakfast 051709
My grandfather always kept an air compressor ready for anyone who needed it at the old family grocery/post office/VW garage, and I suspect he would have been either amused or angry at the idea of a business charging anyone for air.

Light Enterprises receives state Pacesetter award
Mike Light knows the economy is tough — for businesses and employees. So when things slowed down for Light Enterprises, his Ashland demolition and site preparation company, Light decided there had to be a way to hold onto his trusted employees while keeping his business running.

Stone Mountain property not for sale
The Stone Mountain Dataplex property is not being sold and Global Data Corporation is not shutting down operations in Olive Hill, according to the company’s attorney Mike Fox.

Rock solid
Despite unexpected obstacles, the Stone Mountain Dataplex project in the Lawton community near Olive Hill is moving forward and expected to be back under construction in the near future.

TIM PRESTON: Great deli, GM expansion, yard sale 050309
A last-minute food gathering effort for an office lunch last week provided an opportunity to visit the deli at Jack’s South Ashland Cardinal Market in search of Ashland’s best cole slaw.

Unger’s accolade
The oldest shoe store in the area has another distinguished honor to add to its list of accolades.

AK Steel posts $73M loss in 1Q
Steel maker AK Steel Holding Corp. says it posted a first-quarter loss compared with a year-earlier profit, hurt by the recession and declining orders from the auto industry.

AK Steel CEO gets pay package worth $9.5 million
AK Steel Holding Corp. paid Chief Executive James L. Wainscott $9.5 million in 2008, up 3 percent from 2007, according to an Associated Press analysis of its proxy filings.

Local stores weigh in on booze, tobacco tax hike
With no relief expected before the price of cigarettes and alcohol jumps Wednesday morning, Bill Steele at Shamrock Liquors sums up the situation by saying, “It is what it is and there’s nothing we can do about it.”

Ohio to review if Wal-Mart reneged on tax deal
State economic development officials will check whether Wal-Mart Stores Inc. violated terms of a tax agreement by closing an optical lab and laying off 650 workers, a state spokeswoman said Saturday.

OLBH names 2 new vice-presidents
Officials with Our Lady of Bellefonte Hospital have announced two additions to the hospital’s administrative team.

TIM PRESTON: Appreciating Ashland, Stella’s stuff 032209
I love the Ashland area during the first warm days of the year. I rolled past central Park Tuesday evening and saw people walking hand in hand,

Bankruptcy filings: 3/11/09

Belk completes 1st part of expansion
Belk will open a new men’s and home store today, marking completion of the first phase of a $3.6 million expansion and renovation of Ashland Town Center store.

Coal plants checked by enviro campaigns, costs
Beneath the frozen plains of eastern Montana and Wyoming lie the largest coal deposits in the world — enough to last the United States more than a century at the nation's current burn rate.

Toyota cutting US execs' pay, offering buyouts
Toyota Motor Corp. is reacting to the slump in U.S. auto sales by further cutting North American production, slashing executives' compensation up to 30 percent and offering buyouts to about 18,000 workers.

TIM PRESTON: Snowing, sewing, selling and sudsing 020809
I regret a wish I made during an early snow we received in 2008. That wish was for enough snow to make it possible to take one decent sled run down the big hill behind my house.

AK Steel recalls laid-off workers
Cincinnati-based AK Steel Holding Corp. is recalling more than 500 hourly workers who had been laid off at its plant in Ashland.

AK calling workers back
About 100 hourly workers are expected to return to AK Steel this week, according to company spokesman Alan McCoy.

Bankruptcy filings: 1/31/09

AK Steel posts $431M loss in 4Q amid weak demand
Steel maker AK Steel Holding Corp. says it swung to a fourth-quarter loss as demand for the metal sank amid the global economic downturn. It forecast a significant operating loss for the first quarter.

Economic forecasters see more job cuts ahead
It's already been a lousy year for workers less than a month into 2009 and there's no relief in sight. Tens of thousands of fresh layoffs were announced Monday and more companies are expected to cut payrolls in the months ahead.

TIM PRESTON: Lost food, misplaced shop, satisfaction and retirement 1/25/09

Bankruptcy filings 01/26/09

Circuit City to liquidate remaining U.S. stores
Bankrupt Circuit City Stores Inc., the nation’s second-biggest consumer electronics retailer, said Friday it failed to find a buyer and will liquidate its 567 U.S. stores. The closures could send another 30,000 people into the ranks of the unemployed.

Gyro King closes; new eatery coming to mall
The Gyro King has closed its doors, but fear not — owner Chris Mitropoulos will soon be serving up his gyros, souvlakis and other savory Greek dishes in a new location.

Bankruptcy filings: 1/1/09

Work ethic guides Cartee family’s business plan
Ron Cartee Sr. counts himself as lucky to have grown up at a time when local boys had the option of going to work instead of college.

Analysis: Bush hands car keys off to Obama
President George W. Bush's $17 billion lifeline to General Motors Corp. and Chrysler LLC means neither company will perish while he occupies the White House, yet leaves the ultimate fate of the once-proud auto industry up to the incoming Obama administration.

Skyline Chili in Russell closes
The nation’s banking crisis has claimed another local business.

Bankruptcy filings: 12/10/08

Congress, White House work to help auto industry
Facing massive job losses, the White House and congressional Democrats are working to provide about $15 billion in loans to prevent Detroit's weakened auto industry from collapsing.

Administration ignored economic warnings
The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents.

Ten years after settlement, tobacco rebounds
Lindsay Pasley is an eager young man in what used to be an older man's game, tobacco farming.

KDMC named in top 100 for cardiac care
For the third year in a row, King’s Daughters Medical Center has been named by Thomson Reuters as one of the nation’s 100 Top Hospitals for cardiovascular care

Bankruptcy filings: 11/18/08

KDMC to introduce new clinical information system this weekend
On Saturday, King’s Daughters Medical Center will “go live,” implementing a new state-of-the-art clinical information system called Epic.

Bankruptcy filings: 11/12/08

Bankruptcy filings: 11/4/08

KDMC No. 5 on Best Places to Work in Healthcare list
Modern Healthcare magazine, a leading U.S. health care journal, has placed King’s Daughters Medical Center No. 5 on the national list of the 100 Best Places to Work in Healthcare.

TIM PRESTON: Keep calling with business news 102608
If you tried to reach me last week you may have figured out I took advantage of the opportunity to take a vacation and celebrate our 18th wedding anniversary.

Bankruptcy filings: 10/21/08

TIM PRESTON: Plenty of events on the calendar 101208
After a minor delay due to unexpected renovation work and a health inspection, the staff at Katie’s Corner Cafe officially re-opened the restaurant to a crowd of hungry customers at 6 a.m. Wednesday.

OLBH named at Best Practice organization
Our Lady of Bellefonte Hospital was honored as a 2008 Professional Research Consultant Best Practice Hospital in nine separate categories based on exemplary patient satisfaction surveys.

Ex-Independent publisher to oversee Pocono paper
Joe Vanderhoof, president of the Hudson Valley Media Group and publisher of the Middletown, N.Y., Times Herald-Record, will also oversee the company’s media group in the Poconos.

Bankruptcy filings: 10/7/08

Small-business event set
Small-business operators interested in doing business with the Wayne National Forest and U.S. Department of Agriculture are invited to a workshop presented by the Southern Ohio Procurement Outreach Center.

TIM PRESTON: Katie’s coming back 092808
The hot rumor on the street during the recent Poage Landing Days festival was that Katie’s Corner will soon re-open at the corner of Greenup Avenue and 15th Street.

Bankruptcy filings

Paulson resists calls for added help in bailout
Treasury Secretary Henry Paulson said Sunday that U.S. credit markets remain frozen and Congress must move quickly to pass a $700 billion bailout package for financial firms. But key Democrats said the legislation needs changes to provide better protections for taxpayers and homeowners in danger of losing their homes.

Multiple quick fixes tried for US financial crisis
Urgently moving on multiple fronts to stem the worst financial crisis in decades, the government on Friday said it would safeguard assets in money market mutual funds and temporarily banned short-selling of financial company stocks. The Treasury Department asked Congress to give it sweeping power to buy up toxic debt that has unhinged Wall Street.

Bankruptcy filings: 9/17/08

Allegiant Air coming to Blue Grass Airport
Blue Grass Airport welcomes low-cost airline Allegiant Air LLC to Lexington today with new, nonstop jet service to Florida beginning Nov. 6.

Bankruptcy filings: 9/3/08

Bankruptcy filings: 8/27/08

Steve & Barry's might remain in business
If approved by the court, Steve & Barry’s stores will continue to do business at 276 stores nationwide.

Bankruptcy filings: 8/20/08

Bankruptcy filings

Bankruptcy filings: 7/30/08

Counties get emergency road funds
Two area counties will be receiving money from the state to help repair storm-damaged roads and bridges.

TIM PRESTON: Opening, closing, moving, planning 072008
New Orleans native Terry Freese recently opened Cajun Connection at 102 Grandview Ave. in South Point, near the Grandview Hotel.

U.S. spells out Fannie-Freddie backstop plan
The Federal Reserve and the Treasury announced steps Sunday to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as losses from their mortgage holdings threatened their financial survival.

Bankruptcy filings: 7/2/08

Starbucks closing 600 U.S. stores, most opened since 2006
Starbucks Corp. said Tuesday it will close 600 company-operated U.S. stores in the next year, up dramatically from its previous plan for 100 closures, a sign the coffee shop operator is still feeling the pain from the faltering U.S. economy.

Steve & Barry's review alternatives
A bankruptcy firm on Tuesday confirmed it is working with apparel retailer Steve & Barry’s LLC to negotiate with its lenders and review strategic alternatives.

ALL BUSINESS: Credit scores hit by card limits
Just as Americans grow more reliant on credit cards to help pay monthly bills, they're being hit with a one-two punch: Card companies are reducing borrowing limits for tens of thousands of consumers, which then can lead to lower credit scores.

Bankruptcy filings: 6/18/08

No businesses named for Blazer Plaza
Developers are remaining silent about what businesses will be included in a new shopping plaza under way along U.S. 60.

Bankruptcy filings: 6/11/08

Belk announces $3.6M expansion in Ashland
Belk officials have announced plans to spend $3.6 million for expansion and remodeling of the Ashland store, ultimately occupying approximately 95,000 square feet of space within Ashland Town Center.

McDonald's, others pull tomatoes over salmonella
McDonald's, Wal-Mart and other U.S. chains have halted sales of some raw tomatoes as federal health officials work to trace the source of a multistate salmonella food poisoning outbreak.

TIM PRESTON: Check in the mail 060808
I really didn’t believe I would be getting one of these economic stimulus checks from the government. According to a letter I just found in the mailbox, however, It appears I am indeed on that list.

Local hospitals shine at Thoroughbreds
Our Lady of Bellefonte Hospital’s Marketing and Communications Department received 10 awards and King’s Daughters Medical Center eight from the Kentucky Society for Healthcare Public Relations and Marketing.

All in the family
On a sunny April morning Steve Jackson stands outside of his downtown tire company laughing and joking with the continuous stream of customers that pulls off 16th Street into his lot.

Into the economic abyss: How deep will it go?
For months, Americans have been subjected to a sort of economic water torture — a maddening drip of bad news about jobs, gas prices, sagging home values, creeping inflation, the slouching dollar and a stock market in bumpy descent.

Powder instead of paint
Matt Abrams, founder and owner of A’s Custom Powder Coating, is ready for the leap from small business to emerging industry.

TIM PRESTON: Red and yellow caught my eye 032308
It just looks bad.

TIM PRESTON: Looking for more responses 030908
I certainly got an education in local politics, grudges and attitudes last week in response to a request for reasons why many people consider Ashland’s downtown business district to be doomed, while others see it as an area of nearly unlimited opportunity.

Oil prices spike to $105.10
Oil prices hit a record $105.10 a barrel Thursday, a day after a surprise drop in U.S. crude supplies and a decision by OPEC not to boost production.

TIM PRESTON: How about a little help? 030208
Someone please clue me in.

Toshiba says it's considering ending HD DVD, but no decision made
Toshiba may pull the plug on its high-definition DVD format but no decision has been made, the Japanese electronics maker said in a statement Monday.

Bankruptcy filings: 2/13/08

GM posts record US automotive loss of $38.7B for 2007
General Motors Corp. reported a $38.7 billion loss for 2007 on Tuesday, the largest annual loss ever for an automotive company, and said it is making a new round of buyout offers to U.S. hourly workers in hopes of replacing some of them with lower-paid help.

Yahoo board plans to turn down Microsoft's unsolicited $44.6B bid
Yahoo Inc.'s board will reject Microsoft Corp.'s $44.6 billion takeover bid after concluding the unsolicited offer undervalues the slumping Internet pioneer, a person familiar with the situation said Saturday.

Economic stimulus package is given high marks as the right medicine for the ailing economy
Despite remarkably quick passage, the economic aid plan and its cash rebates may come too late to prevent a recession this year. For many experts, however, the $168 billion boost to the lagging economy may mean the difference between a short downturn and something much more serious.

Microsoft makes unexpected $44.6B offer for Yahoo
Microsoft Corp. has pounced on slumping Internet icon Yahoo Inc. with an unsolicited takeover offer of $44.6 billion in its boldest bid yet to challenge Google Inc.'s dominance of the lucrative online search and advertising markets.

TIM PRESTON: A place for the little ones 01/27/08

AK on a roll, swings to 4Q profit on higher sales, shipments
AK Steel Holding Corp. had record revenues and shipments in 2007 and starts the new year healthier than imaginable when his management team took over four years ago, CEO James Wainscott said Tuesday.

Fed cuts interest rate amid global stock sell-off and fears of recession
The Federal Reserve, confronted with a global stock sell-off fanned by increased fears of a recession, slashed a key interest rate by three-quarters of a percentage point on Tuesday and indicated further rate cuts were likely.

Tax rebates of $300-$800 weighed as Congress, Fed, White House urge economic rescue
United for urgent action, the White House and Congress raced toward emergency steps Thursday to rescue the national economy from a possible recession, including tax rebates of at least $300 a person, and maybe as much as $800.

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