Founded as a construction company 38 years ago, Covington-based Corporex increasingly is a lender and investor, diversifying into such businesses as country clubs and hotels.

        Founder Bill Butler signaled the changes several years ago when he started pouring resources into the Five Seasons Country Clubs unit and putting several office properties, including the RiverCenter complex in Covington, up for sale. Market conditions stopped the RiverCenter sale, but Corporex already has sold the One Renaissance office building in Hamilton to the city for $18.35 million.

        Now there's a Corporex Capital LLC unit to pursue acquisitions, equity investments and joint ventures. In the company's latest newsletter, executive vice president Bill Blackham predicted that could become Corporex's largest business within five years. It already has invested in or financed office buildings in Boston and Denver.

        Corporex officials wouldn't comment. But Mr. Butler heralded the “new horizons mode,” and said the transformation would ensure its success “beyond its founder by becoming more like a financial entity.”

Follow the money

        The problem that has blocked WGUC-FM listeners throughout the region from getting the station's signal is about more than radio waves. Ultimately, it's about money.

        Specifically, about $50,000. That's how much WGUC will have to raise privately to balance its budget after spending the money on antennas, tower climbers and legal counsel this summer.

        This for a nonprofit station with a $3 million annual budget, two-thirds of it from private sources, that barely finished in the black last year.

        The details: WGUC rents antenna space in Clifton Heights from stations including commercial station WLWT-TV. That station's digital conversion caused a “hot spot” that could have forced the shutdown of WGUC antennas for as long as 90 to 120 days. While the station scrambled to make backup plans, it was forced to spend the extra money and its signal was blocked in areas as close as Hyde Park and as far-flung as Union.

        While the blackouts eventually will go away, it might take longer to recoup the money, station general manager Rich Eiswerth said.

Come one, come all

        The METS worker-training program from Northern Kentucky University has concentrated mostly on customized training for corporate clients. But starting Sept. 9, it will break out with a new program for most closely held companies.

        Called MBA Essentials, it will provide training in accounting, finance, information technology and other areas, said Rob Snyder, executive director of the Metropolitan Education and Training Services. The program will cost $1,995 and will run 12 Monday nights at Mazak Corp. in Florence. Call (859) 491-9999 or visit www.useMETS.org for information.

        Call 768-8573 or e-mail cpeale@enquirer.com

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