Business

Business
12:24 pm
Tue January 7, 2014

Damage To At Least 40% of MSU's Main Buildings Due to Power Outage and Freezing Temps

Update Tuesday,  2:50 p.m.

Murray State University's main campus will be closed again Wednesday. MSU officials say at least 40% of MSU's major buildings suffered significant damage due to frozen pipes and equipment.

Spokesperson Catherine Sivills says crews are still making rounds through buildings to assess the damage.

"As soon as we know the extent of the damage, we will make a determination on re-opening," Sivills said.

Murray State shutdown power to the main campus last night at the request of the TVA to help meet extremely high demand due to the arctic temperatures. MSU has a generator in place to carry enough load to prevent such problems from occurring. But, that generator malfunctioned last night. MSU has an "interruptible contract" with the TVA which allows the TVA to require MSU to reduce its electricity usage. Sivills says MSU receives "significant" savings for this contract.
 

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Business
2:40 pm
Mon January 6, 2014

Verso Paper Buys NewPage, Paper Mill Closings Unlikely

Coated papers maker Verso Paper is buying NewPage Holdings in a deal valued at $1.4-billion including debt.  Privately held NewPage has 11 manufacturing plants in six states, including one in Wickliffe, KY. 

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Business
7:25 am
Mon January 6, 2014

Lourdes Completes Hospice Fundraiser

Lourdes Hospital announced this weekend it has met its $7-million fundraising goal for a new hospice care facility. For the past nine and a half months, Lourdes Foundation has been raising funds for a 10,000 square foot inpatient care center facility for the terminally ill.

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Business
7:13 am
Mon January 6, 2014

Local Airlines Feeling Weather Woes

As a blast of winter weather moves across Kentucky, airlines are delaying or cancelling flights to and from the area because of difficulties with ice and snow around the country.

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Business
2:42 pm
Thu January 2, 2014

Kentucky Public Service Commission Sets Final Meetings for Big Rivers Rate Case

Credit securitynet.org

The Kentucky Public Service Commission holds the final public meetings for the Big Rivers Electric rate case next Wednesday.

The PSC’s meeting is in Frankfort, but the public may voice their concerns about a 20 percent rate increase through a video conference.

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Business
6:40 am
Mon December 30, 2013

Some KY Communities See Economic Recovery

An analysis by the Kentucky Chamber of Commerce has found that many communities across the state have rebounded from the 2008 recession.

The report released this week found a largely positive picture of the state economic health. The Courier-Journal reports the analysis found that three cities — Owensboro, Lexington and Elizabethtown — support more jobs now than they had in 2007.

It also found that Louisville jobs have increased to pre-recession levels and wages and salaries increased in urban areas. It wasn't all good news, though.

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Business
6:50 am
Fri December 20, 2013

Gas Prices To Drop New Year’s Day

Kentucky's tax on the sales of gasoline, diesel and ethanol fuels will drop by 1.5 cents per gallon on New Year's Day.

State officials say the reduction reflects a drop in the calculated average wholesale fuel price.

The decrease would result in the loss of about $45 million to the Kentucky Road Fund on an annualized basis. Kentucky Transportation Secretary Mike Hancock said yesterday that any loss of revenue is concerning.

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Business
6:35 am
Fri December 20, 2013

Economists Predict Growth In KY

A panel of nonpartisan economists reports that Kentucky’s General Fund is expected to grow by just over two and a half percent over the next two fiscal years.

That'll bring in about half a billion dollars. But in next year's budget, half of that will likely go toward pension payments, inflation on medical care costs and paying down nearly $160 million of a structural budget deficit.

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Business
11:31 am
Tue December 17, 2013

Murray Man Brings Military Know-How To Local Intelligence and Broadband Infrastructure Company

Ballard County native and University of Kentucky Graduate Scott Allen spent nearly 25 years in the military working as an intelligence analyst throughout the world. He led the counter-terrorism operation for the Central Asia shop.

Allen also developed the threat finance discipline within the Defense Department. After active duty Allen served as the threat finance portfolio manager within the Pentagon.  Allen, who is a registered member of the Choctaw nation, now leads his Murray-based business called Wisdom Tree technologies.

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Business
5:55 am
Tue December 17, 2013

BNA Adds Non-stop Flight To New York

Nashville International Airport is adding a daily nonstop flight to New York City's LaGuardia Airport. The new nonstop service on Southwest Airlines begins on May 11.

Once it begins, Southwest will have three daily nonstops to LaGuardia from Nashville.

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