Month: May 2016

Executive Pay
Paul Varga
Varga

Led by CEO Paul Varga, Brown-Forman executives yesterday disclosed a slew of stock transactions in a series of notices with the Securities and Exchange Commission. Varga sold 11,566 Class A shares at $103.71 each for a total $1.2 million in what appears to be tax-driven trade, according to this SEC Form 4. All SEC filings. Class A shares recently traded for $102.13, down 1%.

Related: Varga’s annual compensation totaled $11 million in fiscal 2015, the most recent year available; Boulevard‘s executive pay database.

Latest Headlines

Kindred’s Q1 results beat forecasts; Papa shares surge 8% at the close, and a Yum operator just got way bigger

Latest news, with a special focus on big Louisville employers; updated at 4:48 p.m.

KINDRED just reported first-quarter earnings per share of 25 cents, down 27% from a year ago, but better than analysts’ expectations. Revenue rose nearly 10% to $1.84 billion, in line with forecasts (press release). In late trading, shares surged 3.4% to $14.98.

PAPA JOHN’S stock soared 8% to $60.16 a share at the close today, after the company reported first-quarter results late yesterday that beat forecasts on earnings, but missed on revenue (Reuters). The company is charging into a record number of foreign markets this year: “Our international business is on fire,” CEO John Schnatter told analysts during a conference call today (Insider Louisville).

HUMANA said first-quarter profit dove 28% to $1.86 per share, but that was higher than management’s earlier forecast of $1.80, excluding items (press release and The Wall Street Journal). Shares closed moments ago at $175.70, down less than 1%.

Diablo sauceYUM: One of Yum Brands’ biggest operators has added 91 more KFC and Taco Bell outlets in five states: Michigan, New York, New Jersey, Maryland and Florida. The deal gives KBP Foods of Overland Park, Kan., 361 locations in 14 states (Nation’s Restaurant News); overall, Yum has nearly 43,000 restaurants worldwide. Taco Bell is permanently bringing back Diablo Sauce, according to USA Today (which now apparently has some sort of sponsored content agreement with the Yum unit). Pizza Hut has bacon-stuffed crust pies again (Daily Meal). KFC has opened a high-tech concept store in Shanghai (Manila Bulletin). Also, a Florida woman told police she found something seriously gross in a chicken sandwich (Smoking Gun).

TEXAS ROADHOUSE continues to tinker with its Bubba’s 33 pizza-and-burger concept stores (Insider Louisville and Business First). Also, the chain will open its latest Texas Roadhouse restaurant, in Virginia’s Roanoke County, June 20; the chain is now looking to hire 160 people for the location (WDBJ). The company already has more than 460 restaurants in 49 states, plus five locations in the Middle East.

KROGER: The operator of a huge Kroger distribution center in Colorado is moving to replace employees who’ve been on strike nearly a week (Gazette).

And in other news, Norton Hospital in downtown Louisville is the fourth-most profitable hospital in the country, according to a new academic study — a study the hospital disputes (WDRB). Louisville tobacco company Turning Point Brands is exploring an IPO (Business First).

Jobs

Time clockBoulevard reports extensively on executive pay at big local employers. But we also look at what folks are making down in the trenches, sometimes for very peculiar work. Check out this recent example from Craigslist’s creative gigs help-wanted listings in Louisville.

The job: Foot model

The description: If you’d like to make some extra cash posing your feet for a photography project let me know. Any type welcome; high arches are a plus.

What it pays: $200 to $400.

Boulevard wonders whether that’s per hour; the ad doesn’t say.

Bottom Line

Immoral, intemperate would-be barbers need not apply

If you knew all the hoops to jump to get barber licenses under Kentucky law, you’d tip your barber even more generously. The State Board of Barbering‘s governing law and regulations run well over 40 pages, covering everything from the regulatory board (whose five members are appointed by the governor) to how barber schools advertise. My favorite part of the license qualifications section: You must be of “good moral character and temperate habit.”

Outfitting a shop isn’t cheap, either. A traditional striped barber pole alone costs a whopping $1,035 at retailer Minerva Beauty of Monroe, Ga. (The history of poles is interesting, but not for the faint-of-heart.)

10408723_1512343935685110_2971144345046087142_nAs for me, I get a haircut and beard trim every three weeks at Market St. Barbers in NuLu: $45, not including tip. (Today was the day.) The shop’s at 748 E. Market St. Ask for Ken Watts, senior master barber.

Related: barber shops across Louisville.

RSVP

Bonfire of the vanity: A sneak peek at this year’s hottest Derby party venue
Steve Wilson
Wilson

21c Museum Hotel co-owner Steve Wilson took The Courier-Journal on an inside-the-hotel tour of where Vanity Fair magazine will hold its first Derby party, Friday night. But unlike other Derby events (we’re looking at you, Barnstable-Brown), the upmarket glossy famous for its Oscar party won’t be disclosing the guest list.

Still, everyone else can watch guests arrive on the black (yes) carpet, starting at 8 p.m. (Side note: Wilson says he’s dreaming of opening a 21c in Havana, now that the U.S. is moving toward normalizing relations.) Here’s the CJ story, and a tour video.

Top: That’s comedienne Amy Schumer on the cover of the magazine’s May issue.

Travel

Your $7,075 ticket to ‘Hamilton’ makes the Louisville airfare to NYC look cheap

An occasional look at premium travel from Louisville.

Ticketmaster copyYou’ve just scored a ticket for this Saturday night at the hottest musical on Broadway — “Hamilton,” which today got nominated for a record 16 Tony awards. How much? $7,075 per ticket, not including a $1,203 service fee to reseller Ticketmaster (orchestra, row T, seat 28).

Alongside that, your last-minute airline ticket is a bargain, although you’ll need to fly economy, because business and first aren’t available on a non-stop flight.

Where: New York City. When: Friday to Sunday. Airline: United. Route: Louisville to Newark. How much: $740 for economy. United reservations.

Related: “Hamilton” official website. The luxurious Plaza Hotel has rooms available at $1,025 a night — a 19-minute walk to the Richard Rodgers Theatre; reservations. And here’s TripAdvisor’s New York City page.