While many horse racing fans eagerly await early October for Keeneland's fall meet, horse sellers and buyers will stay busy for the next two weeks. The annual September yearling sales event gets underway Monday.
With 13 sessions, Keeneland's September sales are billed worldwide as the top thoroughbred auction of the year. Keeneland Spokeswoman Amy Gregory says major buyers from almost every state and 50 countries will be in town. She says gross sales a year ago were up 27%. "We're very optimistic going into this sale that we'll have a very robust sale. There's lot of optimism in the thoroughbred industry right now and the market is very strong in sales that have been leading up to this September sale," said Gregory.
Kentucky retailers are hoping for an ‘end of the year’ rush between now and Tuesday. The 2012 holiday shopping period is certainly not one for the record books. Laura Leigh Goins with the Kentucky Retail Federation says businesses gauge sales from November through the end of December.
Some Tennesseans hope their state will change alcohol sales regulations at grocery stores after a federal court in Kentucky found beer only sales at grocery stores unconstitutional. Tennessee Grocers and Convenience Store Association President Jarron Springer says the current law is outdated, and that Tennessee is missing out on 30 million dollars of annual revenue with the low alcohol content level.
The recent federal court ruling that Kentucky’s law against selling wine in grocery stores is unconstitutional may affect a similar law in Tennessee. Tennessee Grocers and Convenience Store Association President Jarron Springer says their campaign “Red, White and Food” has long addressed this and that Kentucky’s court ruling will hurt Tennessee’s revenue if it doesn’t soon follow suit.
A 5 percent increase in electricity sales from hot weather this summer has boosted the Tennessee Valley Authority’s profits this quarter. But it wasn’t enough to offset the 5.9 percent drop that came with last winter’s mild patterns. TVA officials couldn't say whether they'd increase power rates at the start of the new fiscal year in October until after its board meets later this month.