Wednesday, July 14, 2004

Business briefs

Sculptor Bev Kirk carved Sudsie out of the equivalent of 26,666 bars of Ivory (donated by Procter & Gamble). At 7,000 pounds, it is the world's largest soap sculpture. Matthew 25 Ministries plans to take Sudsie to Nicaragua to promote hand-washing among children to prevent disease. And no one knows if it floats.


Bengals seat holders seek legal protection

Several club-seat holders for the Cincinnati Bengals who did not renew their tickets Tuesday asked an appellate court to keep the Bengals from taking further action to collect or from suing them.

The motion appeals an earlier ruling in Hamilton County Common Pleas Court that sent the matter to arbitration. The Bengals have said that patrons signed multi-year contracts and have threatened to sue those who did not renew their club-seats deals by Tuesday.

Bank of America to buy card processor

LOUISVILLE - Bank of America Corp. unveiled plans Tuesday to buy Louisville bankcard processor National Processing Inc. for $1.4 billion in cash, a combination that would create the nation's second-largest such company with nearly $250 billion in annual processing volume.

Bank of America will pay $26.60 per share for the publicly held company, which will be merged with its Bank of America Merchant Services business.

The newly combined business will be headquartered in Louisville.

Mine workers plan second demonstration

LEXINGTON - Members of the United Mine Workers are planning a second protest in hopes of securing benefits from bankrupt Horizon Natural Resources.

On June 30, about 600 miners from across central Appalachia rallied outside a bankruptcy hearing because of concerns a judge might throw out union contracts. UMW President Cecil Roberts said U.S. Bankruptcy Judge William Howard should require that Horizon's labor contracts remain in force to protect health-care and retirement benefits.

The second rally is scheduled for Tuesday, the day Howard could rule on whether Ashland-based Horizon is responsible for the benefits.

The protesters are speaking out against bankruptcy laws that allow companies to shed medical costs and retiree benefits.

Jury backs CSX in injury lawsuit

LOUISVILLE - A Jefferson Circuit Court jury has ruled in favor of CSX Transportation Inc. in a lawsuit by a former employee who claimed he suffered brain disease from exposure to toxic chemicals used by the railroad.

David Ray Burton, 48, said he developed chronic toxic encephalopathy from exposure to harmful solvents used in the railroad's Louisville yard.

The jury on Friday found that CSX provided Burton a reasonably safe place to work and said the chemicals and solvents did not cause his injuries.

Auto incentives may be best ever*
Credit rating can alter incentive
Concrete shortage begins to harden
$1.5B tax write-off by Delta
GEAE market best since pre-Sept. 11
Pierre Foods sold to investor group
Locally, more fingers do the walking to florists
Deficit up 20 percent over 2003
Whistleblower claims stay alive in lawsuit
Discount retailer headed this way
Small raises next 2 years, surveys say
After year of hits, Disney struggles
Tristate business summary
Business digest
Business briefs