Most of the 35 outlets of the Louisville-based Jillian's chain of restaurant/nightclubs, including one in Covington, were sold after a bankruptcy auction that nearly doubled the starting bid.

Strong bidding by two other potential buyers drove up the price at the Wednesday auction.

The sale was approved Thursday by the federal bankruptcy court in Louisville.

A joint venture of Dallas-based Dave & Buster's, a similar nightclub-entertainment concept, and a Boston investment company called Gemini Investors III, bid $64.8 million for the chain, said Jillian's chief financial officer Greg Stevens.

The two were the "stalking horse" bidders for Jillian's in the sale plan submitted to the court. Dave & Buster's had offered $27.6 million for nine of the newest and largest Jillian's outlets in eight states. Gemini had bid $11 million for 19 more, including the Covington, Louisville and Indianapolis clubs.

Leading indicators down for third month

NEW YORK - A closely watched measure of future economic activity fell in August for a third consecutive month, reflecting an uncertain climate for businesses and consumers.

The Conference Board said Thursday that its Composite Index of Leading Economic Indicators fell 0.3 percent in August to 115.7, after a decline of 0.3 percent in July.

The string of declines comes after more than a year in which the index gained steady ground. The drop last month was larger than the 0.2 percent decrease forecast by analysts.

For the boardroom: Trump, The Fragrance

Real estate mogul Donald Trump, already the star of a television program based on his business life, is lending his name to a new scent from Estee Lauder Cos.

Donald Trump, The Fragrance will be sold in Federated Department Stores' Bloomingdale and Macy stores starting in mid-November. Estee Lauder, the maker of Clinique and Bobbi Brown cosmetics, didn't disclose financial terms of the multiyear agreement with the 58-year-old tycoon.

Airline cuts flights, may charge for food

DALLAS - American Airlines is reducing some flights and considering charging for onboard food amid increasing fuel prices and intensifying competition from low-cost carriers, the company's chairman and chief executive said Thursday.

Gerard Arpey's comments to financial analysts in New York came one day after American's parent, AMR Corp., said it was discussing refinancing an $834 million line of credit. AMR said in a filing with the Securities and Exchange Commission that it needs additional relief since August revenues fell short of expectations.

30-year mortgage rates drop to 5-month low

WASHINGTON - Mortgage rates around the country dropped this week, with 30-year mortgages sinking to their lowest level in five months.

Freddie Mac, in its weekly survey released Thursday, reported that rates on 30-year, fixed-rate mortgages declined to 5.70 percent for the week ending Sept. 23. That was down from 5.75 percent last week and marked the best showing since rates on 30-year mortgages averaged 5.52 percent at the beginning of April.

Bank of Kentucky declares dividend

The parent of the Bank of Kentucky has declared a semiannual dividend of 12 cents a share, up a penny from its previous dividend in March.

The Bank of Kentucky Financial Corp., based in Crestview Hills, will pay the new dividend today to shareholders of record Sept. 10. The latest dividend boosts the bank's annual cash dividend 35 percent to 23 cents a share for 2004, from 17 cents a share in 2003.

The Bank of Kentucky has assets of almost $830 million and 26 branches in Northern Kentucky.

AK Steel ranks 86th in quality top 100

MIDDLETOWN - AK Steel is 86th on Quality magazine's list of the Top 100 companies in quality.

AK Steel is the only steel maker on the list, which was published in the magazine's September edition.

Staff/wire reports