Cinergy to take $21 million charge

Cinergy Corp. said Thursday that it will take an after-tax charge of $21 million, or 11 cents a share, to its previously reported first-quarter earnings of $123.8 million, or 68 cents a share, because of an expected loss on the sale of an investment. Cinergy holds a noncontrolling stake in Configured Energy Systems, a supplier of utility outage management software, which is being acquired by SPL Worldgroup Inc. Shares in Cinergy closed at $37.62, down 4 cents.

New West helping to market Ky.

New West, a Louisville-based public relations, advertising and marketing firm, will partner with an Atlanta agency to create a $14 million overall marketing and communications campaign for the commonwealth of Kentucky. Kentucky is combining all advertising, public relations and promotions for all state agencies under one contract. New West will work with Fitzgerald+CO, an Atlanta advertising and brand development agency.

Staff reports