Sunday, July 18, 2004

Queen City Rewind


The week in business news in Greater Cincinnati and Northern Kentucky

KENTUCKY CONNECTIONS

Ohio and Kentucky officials appear united on the need for a $750 million replacement for the Brent Spence Bridge, and they've pegged their hopes on getting as much out of the major federal highway bill still being debated in Congress. But the Bush administration's proposal for that bill includes much less than the amount locals and even Sen. George Voinovich, R-Ohio, are seeking. During a tour of the bridge last week, the nation's No. 2 transportation official reiterated the stance that the smaller figure will be enough, at least for now.

Cincinnati Bell Inc. in Northern Kentucky? Ohio officials apparently are concerned that Bell, which has to find a new headquarters building, might jump to the south side of the Ohio. They've offered Bell $550,000 to keep its headquarters and more than 700 workers downtown.

Second-quarter profits at E.W. Scripps Co. were up 34 percent. But the real story is at Scripps Networks like HGTV, Food Network, DIY and Fine Living. Profits in that unit jumped 56 percent to $87.5 million.

HEADLINERS

Because it can't reliably predict when it will return to profitability, Delta Air Lines will take a charge of more than $1.5 billion second-quarter charge to clear deferred income taxes off its balance sheet. Delta's stock price fell nearly 10 percent in one day to $6.06 per share and closed the week at $XX.

GE Aircraft Engines says its business is as healthy as it's been since the 2001 terrorist attacks, and it might hire up to 160 more engineers here.

As any auto dealer will tell you, it's always a good time to buy a car. But if that dealer is going to hand you up to $5,000 to do it, as many automakers are doing now to entice buyers, they might actually be right.

QUOTE OF THE WEEK

"I think they've just kind of moved on. That's a past General Assembly's promise, tough luck." This from Ohio Rep. Tom Brinkman on Hamilton County leaders' claim that the state is reneging on the last $14 million of its promised funding to help build Paul Brown Stadium and Great American Ball Park.




BUSINESS HEADLINES
Queen City Rewind
GE's X FACTOR
Look Who's Talking: Tyrone Hill
Hybrid funds dull but stable
Delta 'scope' limiting growth
Business notes
Putting it off? Maybe smart, or maybe not
Roasted chicken not a hot item for KFC
Business agenda