Dippin’ Dots founder Curt Jones resigned as CEO yesterday as part of an agreement reached with Regions Bank. The agreement allows the novelty ice-cream company to borrow an additional 1.25 million dollars to maintain operations until the business can be auctioned off. Regions Bank refused to give the loan unless Jones resigned. Dippin’ Dots filed for federal bankruptcy protection last November to prevent foreclosure on more than 11 million dollars in loans.
The Kentucky Office of Employment and Training reports the Commonwealth had substantial job growth last year. State economist Manoj Shanker says the over 21,000 jobs added shows Kentucky’s economy has made strides in recovering from the recession. Job sectors that saw significant growth were temporary professional services; trade, transportation, and utilities; and education and health, while the construction and information sectors saw little growth. Kentucky had the 12th highest annual unemployment rate in the nation in 2011.
The U.S. Post Office will close the mail distribution plant in Paducah sometime after May 15. The USPS announced the closure after a months long study on downsizing. The Postal Service is merging the plant’s operations with the Evansville, Indiana plant. Local American Postal Workers Union President Gerl McKinney says the loss of the Paducah facility will be bad for local businesses. He says,
Hundreds of citizen activists, Appalachian residents and environmentalists rallied at the Kentucky Capitol to call for an end to mountaintop blasting and destructive surface mining practices. Organizers say more than 1,200 people lined the front steps of the Capitol building Tuesday and later marched to the nearby governor's mansion.
Kentucky’s share of the nationwide foreclosure settlement with five major banks is nearly $59 million. Attorney General Jack Conway announced yesterday how that money will be used to help borrowers struggling with high mortgage payments or who have already been through foreclosure. Some of the funds will go toward paying down principal balances for consumers who owe more than their home is worth. Conway says,
It’s been two weeks since the Delta Mariner crashed into the Eggners Ferry Bridge, collapsing a 300 foot section of the road deck. The biggest question still remaining for motorists and business owners who depend on the traffic over the bridge is when and how will traffic be restored. Chad Lampe spoke with Kentucky Department of Highways Spokesman Keith Todd, click the link above to listen to the interview.
The Lennox Hearth fireplace plant in Union City is up for sale, according to a statement from the company. Lennox Hearth Products is based in Nashville and has manufacturing facilities in Union City, Auburn, Wash., and Laval, Quebec, Canada. The company announced it intends to sell three of its plants, including the one in Union City, due to low market demand. The Union City plant employs between 200 and 250 workers. The company has not announced when or if the sale would affect employees.
The Kentucky Chamber of Commerce has scheduled a news conference for this afternoon at the Capitol to make what they call a major announcement regarding support for a proposed constitutional legalized gambling amendment. The event is set for noon Central. Governor Steve Beshear says he's expecting a proposal to amend the state Constitution to allow casino-style gambling to be filed soon. He also says lawmakers still have plenty of time remaining in the legislative session to get it passed. The legislative session is scheduled to run into April.
The Dorena-Hickman Ferry will delay service this morning until 9. Kentucky Transportation board spokesman Keith Todd cites an electrical issue at fault for the delay. He says the problem should be addressed quickly.