Tag: Kindred

Latest Headlines

UPS in deal to deliver blood by drone; Ford exec: ending two-tier pay turned out OK, and Derby brings few arrests

A news summary, with a special focus on big Louisville employers; updated 4:54 p.m.

UPS just announced that its corporate foundation will explore using drones to deliver life-saving medicines such as blood and vaccines are delivered across the world. The foundation has awarded an $800,000 grant to support the initial launch in Rwanda (press release). Here’s the foundation’s GuideStar page, including annual IRS tax returns.

FORD: A top executive now says that while dropping the two-tier wage system increased labor costs, it eliminated a major source of anxiety in the automaker’s plants (Automotive News).

Donald Trump cap
Amazon Trump cap

AMAZON: 1,500 Amazon shareholders want the company to stop selling Trump-branded products (Fast Company). CEO Jeff Bezos has sold 1% of his stake — just over one million shares — worth $671 million. The stock was sold last Thursday according to a predetermined schedule called an SEC Rule 10b5-1 plan, and takes his stake down to 17% of the company from 17.5% (New York Post). Regulatory filing. Amazon shares closed this afternoon at $679.75, up less than 1%.

CHURCHILL DOWNS: Only 17 people were arrested in and around the namesake track on Derby Day (Courier-Journal).

KINDRED: Why the healthcare giant isn’t content being the No. 1 home health provider, according to CEO Benjamin Breier (Home Healthcare News).

In other news, Metro Council President David Yates is expected to introduce an amendment today exempting Airbnb and other short-term rentals from some regulations during major events, such as the Kentucky Derby (WFPL). Former state agriculture commissioner and University of Kentucky basketball star Richie Farmer has filed for bankruptcy (Courier-Journal).

Newspaper publisher Tribune Publishing Co. said its board had adopted a shareholder rights plan — popularly known as a “poison pill” — in a bid to thwart Courier-Journal owner Gannett Co.’s unsolicited $815 million takeover offer (Reuters).

The Wild Dog Rose tea shop will open later this month in the Highlands at 1570 Bardstown Road (Insider Louisville). Also, the owners of Magnolia Photo Booth Co. in NuLu have opened a second store right next door, selling custom t-shirts for kids and adults. The new shop, called OSO Goods, is also at 709 E. Market St. (Insider Louisville, too).

Latest Headlines

Ford exec sells $800K in stock; Humana files SEC quarterly report, and Powerball pot soars to $415M

Latest news, with a special focus on big Louisville employers; updated 5:39 p.m.

Joseph Hinrichs
Hinrichs

FORD Executive Vice President Joseph Hinrichs sold 60,000 shares of stock at $13.32 a share yesterday for a total near $800,000, the company said in a Securities and Exchange Commission filing this afternoon. Ford paid Hinrichs $6.4 million last year, including changes to his pension value. Boulevard’s executive pay database.

KINDRED said it plans to make presentations at two upcoming investor conferences later this month (press release). Also, the company held a first-quarter earnings conference call with analysts at 9 a.m. today. How to listen to the replay; the company released results yesterday (press release). And the board of directors declared a regular quarterly cash dividend of 12 cents a share (press release). Shares closed at $13.44 down 7.3% this afternoon.

HUMANA just filed its first-quarter 10-Q with the Securities and Exchange Commission. Also, the insurer may exit some states’ insurance exchanges next year, the company said during its first-quarter report yesterday (Business First, Insider Louisville and CJ). In the pre-market, shares were basically flat at $175.70.

TEXAS ROADHOUSE has just filed its 10-Q, too.

UPS shareholders have re-elected the full slate of 11 board members (press release).

YUM has filed initial documents with the Securities and Exchange Commission on its planned China division spinoff (Business First).

PAPA JOHN’S: Here’s a transcript of yesterday’s first-quarter conference call with analysts.

pb_logo_1In other news, the Powerball jackpot is now a staggering $415 million, the ninth-largest potential payout in U.S. history, after no winning numbers were drawn last night; next drawing is Saturday (WAVE). Last night’s numbers: 30 47 57 66 69 3. How to play. Also, Norton Healthcare is adding four operating rooms to the Women’s and Kosair Children’s Hospital in the Dupont area as part of a 7,000 square-foot addition (Business First).

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).

Latest Headlines

GE outsourcing jobs, and new Kindred building advances
Appliance Park aerial
An aerial view of GE’s massive Appliance Park, which employs 6,000 workers.

Latest business news focused on big Louisville employers; updated at 5:25 p.m.

HUMANA declared a regular quarterly dividend of 29 cents a share, payable July 29 to stockholders of record June 30. Also, the healthcare giant said it will continue its financial support of Actors Theatre’s festival of new plays through 2019; Humana has been the lead underwriter for 37 years. 

GE plans to outsource its distribution operation at Appliance Park, a move that would affect about 200 union jobs (WDRB). The announcement followed the release of a letter today that contained uncharacteristically harsh criticism of the performance of workers (CJ).

KINDRED was issued four building permits by the city yesterday, indicating it’s ready to start work on its planned $36 million office building in the Theater Square commercial district on Fourth Street near the Brown Hotel (CJ). The expansion will accommodate up to 500 new employees, and follows Kindred’s October 2014 purchase of Gentiva, an Atlanta-based home health and hospice provider (AJC).

PNC will vacate the PNC Plaza Tower on Jefferson Street, moving 300 employees to the National City Tower as the bank consolidates its combined 600 downtown employees in one place. No word on what will happen to PNC Plaza naming rights (WDRB).

PAPA JOHN’S has now eliminated all  high-fructose corn syrup from its menu, a plan first announced in June (press release). The ingredient was one of 14 the company said it would remove in June as it reinforced its “better ingredients, better pizza” slogan (Food Business News).