Day: September 9, 2016

Dow plunges 394 points on renewed interest-rate fears, and Louisville company shares drop, too

Today’s tumble followed hawkish comments from Federal Reserve officials and a slump in oil prices, dragging down the overall market, according to MarketWatch. The Dow Jones Industrial Average closed at 18,085, down 2.3%, and the broader S&P 5oo index closed at 2,128, down a steeper 2.5%.

Among company shares tracked by Boulevard, all but one — Humana’s — fell sharply, with Amazon leading the way:

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Still, even after today’s plunge, stock markets overall are higher than a year ago. The Dow is 12% higher, and the S&P is up 11%, according to Google Finance.

Miss Kentucky competed for the Miss America title Sunday on an unlikely campaign platform: eating disorders (plus other fun contest facts)

Updated: Last night, Miss Arkansas won the annual Miss America contest between 52 contestants (you’re maybe forgetting D.C. and Puerto Rico). Miss Kentucky, Laura Jones of Danville, finished among the top 15 finalists before being eliminated. Here’s my original post:

By Jim Hopkins
Boulevard Publisher

Miss Kentucky is Laura Jones of Danville, a 23-year-old graduate of Kentucky Christian University, where she earned a degree in university studies and biblical studies, with a minor in counseling psychology. She plans to become an eating disorders counselor and life coach, following her own struggles with an eating disorder.

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Jones

Jones spent 10 years on the pageant circuit, winning the state contest July 2 in Lexington on her fourth try. “I just felt such a sense of peace through the whole process,” she told the Lexington Herald-Leader moments after being crowned. (The paper noted that she spoke with “a fake eyelash coming loose from an avalanche of tears.”) On Sunday, she will play a violin solo for the talent portion.

The non-profit Miss Kentucky Scholarship Pageant Inc. has an annual budget of about $169,000, according to its most recent public IRS tax return. Most of that, nearly $94,000, went toward staging the contest itself. By contrast, Mississippi — which has won the national contest four times — spends $636,000 annually.

Kentucky has had only one Miss America winner: Heather Renee French Henry, in September 1999. Six other states have also won just once: Connecticut, Indiana, Missouri, Nebraska, North Carolina and Oregon. Four states have tied for the most winners (six each): California, New York, Ohio, and Oklahoma. (This list shows winners by state, including the 19 that have never won.)

Henry’s win was the top story on The Courier-Journal’s front page the next day (photo, top). Here’s the moment when she won:

The Miss America Organization’s annual budget was $8.3 million in 2014, according to its most recent tax return. The TV production was the biggest expense: $4.6 million; Miss America herself got paid $305,000. Legal expenses inexplicably totaled Continue reading “Miss Kentucky competed for the Miss America title Sunday on an unlikely campaign platform: eating disorders (plus other fun contest facts)”

KFC puts $218M U.S. advertising media buying account up for grabs; Papa John’s loses Rupp Arena rights, and more drama engulfs UofL Foundation

A news summary focused on 10 big employers; updated 3:23 p.m.

KFC is looking for more bang for its bucks in a just-launched review of its U.S. spending for advertising and marketing across all channels, including print, broadcast, digital and social media. The review, which in theory could end with the chicken-chain keeping its current agency for the work — ad and marketing giant WPP’s MEC unit — doesn’t include creative work now being done by Wieden & Kennedy since 2015; that agency is responsible for the current campaign of rotating actors and comedians portraying a resurrected Colonel Harland Sanders. KFC’s U.S. division said it’s looking for an agency “capable of deploying innovative media strategies while leveraging cost efficiencies and maximizing return on investment” (AdAge). KFC just launched its latest Sanders TV commercials, featuring a fictional Kentucky Buckets pro football team.

PAPA JOHN’S has given up concession rights at Rupp Arena in Lexington starting this fall, and will be replaced by Hunt Brothers Pizza (Herald-Leader).

jack-daniels-150th-anniversary-whiskeyBROWN-FORMAN‘s Jack Daniel’s has unveiled a new version to celebrate its major birthday this year: Jack Daniel’s 150th Anniversary Whiskey, which is priced around $100 per one-liter bottle (The Whiskey Wash). Jack Daniel’s is the top seller among Brown-Forman’s 19 brands of spirits and wine.

UPS: Utah is giving UPS $5 million in tax incentives for the shipper’s plan to build a $200 million regional package operations center at a yet-to-be-determined site in the state that will create nearly 200 jobs (Salt Lake Tribune). UPS is the single-biggest private employer in Louisville, with 22,000 workers at it Louisville International Airport hub.

TEXAS ROADHOUSE is opening a Bubba’s 33 in east of Dallas in Mesquite as the Louisville-based steakhouse chain expands its new sports bar division. First launched in Fayetteville, N.C., in 2013, there are now a dozen Bubba’s locations, including outlets in Houston and Waco (Culture Map Dallas).

In other news: the University of Louisville board of trustees, escalating its battle with the independent UofL Foundation, today approved a threat to sue the foundation unless it accedes to demands to clean up its act. Board of Trustees Chairman Larry Benz said as many as 70 donors have called the university over the past few days to say they won’t give any more money unless the foundation shows that it is “clean” (Courier-Journal). Those donors’ threats followed similar ones last week by the James Graham Brown Foundation and the C.E. & S. Foundation led by Humana co-founder David A. Jones Sr.