Sunday, November 7, 2004

Queen City Rewind


The week in business news in Greater Cincinnati and Northern Kentucky

HEADLINERS

Cincinnati Gas & Electric has asked Ohio regulators to approve a plan that would increase residential electric rates about 6 percent in 2006. Energy costs are going to hit us all this winter.

Cincinnati Bell Inc. will cut up to 400 jobs in a corporate restructuring. The local telephone company continues to chip away at its $2.2 billion debt load and try to fend off competitors. In this industry, nothing is easy.

TAKING A GAMBLE

Lawrenceburg's Argosy Casino will be getting a new owner. Penn National Gaming Inc., which operates racetracks and casinos, agreed to buy the riverboat's owner, Argosy Gaming Inc., for $2.2 billion. The Indiana casino employs 2,100 people.

KENTUCKY CONNECTION

Northern Kentucky businessman Clint Brown has offered to invest $3 million to save the Florence Freedom's 2005 season. This might save the baseball team if Brown's group gets the team at a Bankruptcy Court auction but contractors who helped build the Freedom's stadium will have to settle for less than dollars owed to them.

QUOTE OF THE WEEK

"To be honest, with the way things are going, if they want to fly, they'll probably end up here anyway." This from J.C. Lawson III, chairman of Comair's 1,900-member pilot union, talking about Delta Air Lines pilots who might be laid off and the possibility that some might end up flying for Erlanger-based Comair as Delta restructures.




BUSINESS HEADLINES
Queen City Rewind
Job numbers good for accountants
Formica returns to its roots
Look Who's Talking: Tara Krapes
Shop 'til you drop, masculine version
Business notes
Fired? Could be best thing ever for you
Disgraced CEOs go away wealthy
Companies go green, even in 'deconstruction'
Business agenda
Lawsuits threaten Merck's finances, reputation