Business

Business
3:58 pm
Fri November 1, 2013

PTL President Establishes Employment Stock Ownership Plan, Keeping Jobs in Murray

Credit www.ptl-inc.com

Paschall Truck Lines President and CEO Randall Waller is putting all of the company’s stock into an Employment Stock Ownership Plan, or ESOP, that will keep the headquarters and jobs in Murray.

An ESOP provides employees with stock ownership through a trust, in this case with First Bankers Trust Services.

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Business
7:20 am
Fri November 1, 2013

KY Natural Gas Prices on The Rise

Credit Wikimedia Commons

As the days begin to get colder, Kentucky will see higher natural gas prices.  On average, customers who use about ten thousand cubic feet of natural gas, can expect to pay about 19 percent more than last November.  Still, State Public Service Commission Spokesman Andrew Melnykovych says it’s far less than a few years ago.

“Natural gas prices are gonna continue to go up and down from year to year, but it’s going to be, at least for the foreseeable future within a fairly narrow range, you know, dollar or two whereas in the past we’ve had these massive spikes where it’s gone up a hundred percent or more in some instances in a very short period of time and crashed back down only to rise again,” said Melnykovych.

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Business
9:23 am
Thu October 31, 2013

Japanese Consul-General Kato Touts Regional Partnerships And Tied Economies

 

You can listen to General-Consul Kato's 40-minute lecture:
 

Japanese Consul-General Motohiko Kato says his government plans to reinvigorate the economy while improving relations with neighboring countries.

Kato led a lecture and discussion on Murray State’s campus yesterday.

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Business
9:17 am
Thu October 31, 2013

Grimes Fights To Save Paradise Fossil Plant

Credit ky.gov

Democrat Alison Grimes has joined Senate Republican Leader Mitch McConnell in urging the Tennessee Valley Authority to keep a coal-fired generating plant operating in western Kentucky.

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Business
6:24 am
Wed October 30, 2013

Big Rivers Rate Increase Approved

Credit wikipedia.org

The Kentucky Public Service Commission has approved a rate increase for customers of Big Rivers Electric Corporation.

The utility sought the increase to absorb the loss of its biggest customer, an aluminum smelter.

The PSC authorized Big Rivers to seek an additional $54.2 million from customers. That is about $20 million less than requested.

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Business
7:19 am
Fri October 25, 2013

Siemens Expanding In Crittenden County

Kentucky Gov. Steve Beshear joined company officials and local leaders in Crittenden County yesterday to announce the more than $2 million expansion at Siemens’ rail automation facility.

The German-owned company will create 50 new jobs as a result of its expanded facility.

The Marion facility employs 200 workers and engineers control systems for railways and transit authorities.

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Business
2:48 pm
Thu October 24, 2013

Rockin' 4 Research in Madisonville Benefits Cancer Society

Madisonville Hudson Toyota's Lisa Moberly talks about its "Rockin' 4 Research Festival" featuring six live bands and Relay for Life teams at the dealership Saturday, raising money for the American Cancer Society. 

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Business
6:52 am
Thu October 24, 2013

IL Casino Bill Waiting On House Vote

Credit Facebook

Illinois lawmakers have re-opened talks on a bill to expand gambling, but many of the concerns from earlier proposals remain. The House Executive Committee held a hearing yesterday on a measure to add five casinos and allow slot machines at major airports.

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Business
12:52 pm
Mon October 21, 2013

9to5 Seating Company Announces Manufacturing Facility in Union City

Credit Wikimedia Commons

Tennessee Governor Bill Haslam and Economic and Community Development Commissioner Bill Hagerty announced Monday that the 9to5 Seating Company will relocate manufacturing operations to Union City and create upwards of 500 jobs. 

The announcement is welcome news for the community that has been spending the last few years trying to rebuild a manufacturing economy after Goodyear Tire shutdown a 1,800 employee plant in 2011.

The move represents an investment of $39.5 million for the ergonomic seating company. Governor Haslam thanked the company for its investment and said the decision reinforces his goal of making Tennessee a location for high quality jobs.  

Obion County Economic Development Director Lindsey Frilling said 9to5 will move manufacturing from its facility in China to Union City's Northwest Regional Industrial Center. Frilling said the boost to employment will be significant. 

"Anticipated jobs at the end of 2014 is about 73 jobs," said Frilling. "And then from then on, up until five years, you're looking to get it up to 510 jobs."  

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Business
4:26 pm
Fri October 18, 2013

Ill. High Court Invalidates 'Amazon Tax' for Sales

Credit Wikipedia

The Illinois Supreme Court is invalidating a two-year-old Illinois law charging taxes on certain Internet sales. The justices ruled 6-1 in an opinion released Friday to invalidate the so-called "Amazon tax."

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