Tag: Ford

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Yum names Gibbs CFO; Papa hit with $11M verdict, and Brown-Forman returns to Scotch

Latest news, with a special focus on big Louisville employers; updated at 3:19 p.m.

Gibbs_rt
Gibbs

YUM just announced the promotion of David Gibbs, 53, to president and CFO, effective May 2. Gibbs, who’s been with the company 27 years, previously served as CEO of the Pizza Hut Division. He replaces interim CFO Dave Russell, who’ll return to Yum’s vice president, finance and corporate controller. (Press release.) A leadership shakeup at Yum has been in the cards for some time now (Business First). He arrives at a crucial time for the company (Nation’s Restaurant News). Former CFO Pat Grismer announced his resignation in December (Insider Louisville). Yum’s stock traded recently for $81.44, down less than 1%.

PAPA JOHN’S: In Georgia, a DeKalb County jury awarded $11 million to a woman claiming permanent brain damage from a crash with a pizza delivery vehicle on a rain-slicked road. The company’s lead attorney said the verdict would likely be appealed (Daily Report).

BROWN-FORMAN is getting back into the Scotch business after an 11-year absence with the $415.42 million purchase of the BenRiach Distillery in the north Scotland city of Newbridge. BenRiach’s brands include the Heart of Speyside. Today’s deal follows Brown-Forman’s sale of the Southern Comfort and Tuaca brands to Sazerac for $543.5 million three months ago (Reuters). Brown-Forman’s press release about the deal. Also, the company has named Eric Helms as new marketing director for its Global Travel Retail division (Travel Retail Business).

FORD: A threat to the Kentucky Truck Plant? Ford says it needs additional capacity for production of its next-generation Super Duty pickup (Courier-Journal).

TEXAS ROADHOUSE opened its newest location Monday, in Blackman Township, Mich (M Live).

In other news, Woodford Reserve followed an annual Kentucky Derby tradition and unveiled this year’s $1,000 Mint Julep yesterday (WLKY). The Al J. Schneider family drama over downtown’s Galt House grinds on in court (Insider Louisville). And on Wall Street, stocks were poised to tumble after Apple whiffed on earnings yesterday (MarketWatch).

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Ford in a new push for self-driving cars, and Churchill shows off

A news summary focused on 10 big employers; updated 6:32 p.m.

FORD, Uber, Google and two other companies have formed a coalition to push for federal action they hope will speed self-driving cars to market (Reuters). Also, Ford reports first-quarter financial results Thursday; analyst forecasts. Ford’s shares closed at $13.76 a share today, up 18 cents.

CHURCHILL DOWNS unveiled $18 million in improvements at its namesake track in time for the Derby (CJ).

AMAZON won’t be a threat to FedEx or UPS anytime soon. Why? It doesn’t have the density and reach of UPS/FedEx, and retail customers won’t want to switch to a shipper run by one of their largest competitors. (Business Insider).

UPS pilots’ action will affect German flights (CJ). More signs emerge that Louisville could be the next city to get lightning-fast Google Fiber service: It’s all about “huts” (Business First). Appeals court denies request to stop Galt House sale (WDRB).

PAPA JOHN’S introduces new Pepperoni Rolls as their latest side option (Brand Eating). UPS mechanics say a contract proposed by the shipper would significantly increase health care costs and do little to improve wages (Business First).

Fresh ThymeIn other news, the new Fresh Thyme Farmers Market will give away a free bag of “healthy groceries” to the first 250 people in line before the store officially opens tomorrow; this is the two-year-old grocery chain’s first outlet here (CJ). SuperChefs plans to open a new restaurant on Bardstown Road in the Highlands, replacing an earlier location in St. Matthews that was destroyed by fire three months ago (WDRB). U.S. stock futures rise amid earnings deluge.

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Ford doesn’t want a Fiat merger, but thousands want $400K car

Latest business news focused on big Louisville employers.

Ford GT
Only 500 of the 2017 GT’s will initially get built.

FORD CEO Mark Fields yesterday nixed the idea of a merger with Fiat Chrysler, initially proposed by Fiat chief Sergio Marchionne, who said Ford could be a potential merger candidate. Marchionne has long called for mergers among large automakers to help cut development costs for advanced cars that pollute less (Reuters). Also, Ford has received more than 7,000 applications to buy its new 2017 GT supercar – with just 500 planned for production. The GT is expected to sell for more than $400,000. It’s been more than a decade since Ford last launched such a pricey vehicle (Torque News).

GE’s appliance division starts readying employees for the transition to China’s Haier Group next week, according to an employee letter from GE Appliances CEO Chip Blankenship, dated Friday. The $5.4 billion sale is to close around June (WDRB). Also Friday, GE reported lower first-quarter underlying revenue, citing weak sales of oil and gas drilling equipment (Reuters). The press release.

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Our next request: an oven that automatically bakes us a cake

The latest news about big Louisville employers; updated frequently.

GE logoUPS was dealt a blow yesterday when a Fayette Circuit Court jury awarded $5.3 million in damages to eight black men who sued the shipping giant in 2014, claiming a hostile work environment in Lexington. (Herald-Leader.) FORD showed off 11 new Escape models made exclusively at the Louisville Assembly Plant. (Insider Louisville.) And GE has introduced a refrigerator with a water pitcher that automatically refills itself.

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Ford survives crash tests, and a hotelier may now be a neighbor

Major Louisville employer news; updated throughout the day.

PAPA JOHN’S denies an Illinois man’s claims in a lawsuit that the pizza giant is unlawfully collecting sales taxes. More Papa news.

HUMANA accidentally told 12,000 Texas customers it wouldn’t cover their medicines, including allergy treatments, because they weren’t FDA-approved (Business First).

BROWN-FORMAN is rolling out its first new bourbon in 20 years, a premium whiskey called Coopers’ Craft (WDRB). Watch video.

FORD‘s 2016 F-150 is the only full-size pickup truck to score the top rating in new front crash tests (WDRB). Ford’s stock.

In other news, coal giant Peabody Energy enters bankruptcy;  pre-market shares plunge more than 70%. The Louisville Metro Planning Commission late last night OK’d Airbnb and other short-term residential rentals. (CJ).