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4.30.26 · Kentucky Business News

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Speaker 1: Hello. Today, I'll be reading from business sources in Lexington
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and Louisville, including the Lame Report and others from around
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the Commonwealth. Your reader today is Julia Shane. As a reminder,
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RADIOI is a reading service intended for people who are
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blind or who have other disabilities that make it difficult
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to read printed material. Our first article comes from the
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April twenty eighth, twenty twenty six edition of the Lame
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Report and is titled nine County Greater Lexington Region Reports
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Job GDP Growth and New Progress Report. Collaboration among public
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and private sector leaders across the nine county Greater Lexington
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Region is yielding positive trends three years into a five
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year strategy to improve economic competitiveness by adding jobs, attracting
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workforce talent, and business investment, according to a progress report
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from the Greater Lexington Incorporated Board, as regional efforts were
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being organized, the twenty nineteen to twenty twenty four period
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saw twenty thousand new jobs, higher wages, and six percent
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growth in local growth domestic product. Along with regional business
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and local government leaders, Commerce Lexington is implementing a five
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year twenty twenty two to twenty twenty seven Regional Competitiveness
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Plan strategy launched in twenty twenty three to support job
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creation and workforce growth across the nine county region. Commerce
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Lexington hired Chlotte North Carolina consultant Economic Leadership LLC and
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its managing partner Ted Abernethy to develop the plan and
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advise how to carry it out. A newly released progress
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report laid out positive metrics while stating there is still
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much work to be done. The plant's action items aim
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at increasing jobs and workforce across the region through economic development,
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talent attraction, and public policy initiatives. In its initial stage,
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the plan calls for additional investment in economic development and
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talent marketing efforts to key audiences, leadership development through events
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like annual regional summits, and elevated advocacy for critical infrastructure
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investments and policy changes to improve the business climate. Abernathy
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provided an overview of the report along with several key
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takeaways during a recent meeting of the Regional Leadership Council.
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The data showed clear measurable economic progress, Abernathy said. Over
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the past few years, the region is adding jobs in
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key sectors, growing the workforce, and outperforming national averages. Across
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key indicators. The quality of place remains a competitive advantage,
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with more young professionals choosing the region to live and work.
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At the same time, recent progress underscores the importance of
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maintaining affordable energy and housing while continuing to invest in
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job ready sites and infra structure to sustain this growth.
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Staying aligned and working together as a region will be
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critical to continued success. Below are five key highlights from
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the report. One, The region's economic performance is improving. There
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is growth in GDP up six point seven percent, jobs
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up twenty nine hundred and ninety nine, wages up twenty
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eight point one percent, and overall workforce compared to competitor
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regions and national averages. Two. Strong Job growth is occurring
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across key industry sectors where resources have been focused. The
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region added more than twenty thousand jobs from twenty nineteen
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to twenty twenty four, with notable gains and target sectors
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in the last couple of years. Manufacturing nearly one thousand,
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seven hundred net new jobs over five years, including more
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than five hundred in the past two years. Pharma and
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medical manufacturing up fifty two, Automotive manufacturing up thirty one percent,
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Aerospace up sixteen percent, business and professional services up twenty
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five percent, Logistics up eight point two percent. Three Labor
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force growth across all nine counties. The region's labor force
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expanded from twenty nineteen to twenty twenty four, with encouraging
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momentum among young professionals ages twenty to thirty four, with
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this segment increasing by nearly seven thousand residents over the
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past three years. Four. Quality of life remains a competitive advantage,
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with housing a key challenge. Cost of living remains below
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the national average and significantly lower than major metros. However,
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increasing housing supply will be critical to addressing rising prices
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and supporting continued workforce growth. Five Progress on job ready
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sites and economic development capacity. The region is making important
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strides with more than eighteen projects receiving local and state
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funding since twenty twenty two, including the development of a
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new regional business park, Central Kentucky Business Park Authority and
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the opening of Lexington's new two hundred acre Legacy Business Park. Overall,
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according to the Progress report, the data shows the regional
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economy is gaining momentum and the Regional Competitiveness Plan is
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helping to drive measurable progress For the third consecutive year,
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the Greater Lexington region landed in the top ten of
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Site Selection magazines annual rankings of economic development activity in
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twenty twenty five among Tier two regions between two hundred
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thousand and one million in population hot topics. The report
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highlights hot topics shaping regional competitiveness, including business and regulatory climate,
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quality of place, and the availability of energy and jobs.
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These sites for economic development. With the rapid rise of
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AI and data centers, access to safe, reliable and affordable
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energy is quickly emerging as one of the most critical
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competitive advantages for communities seeking business investment. Lexington Mayor Linda
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Gordon said, we have already moved ahead by working with
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our friends in Scott County, Madison County and the City
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of Berea to create the first multi county economic development
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project in central Kentucky. We know regional economic development is
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a winner for everyone. I look forward to developing partnerships
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throughout the region. Berea Mayor Bruce Frehley, who serves as
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board chair for Greater lex Incorporated, said, we are very
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pleased with the progress of the regional plan. It's been
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an honor for me to work with Lexington Mayor Linda Gordon,
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Scott County Judge Executive Joe pat Covington, and Madison County
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Judge Executive Reagan Taylor on the creation of the Central
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Kentucky Business Park Authority to address the need for more
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shovel ready land. We can achieve so much more when
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we collaborate as a region because it makes us more
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competitive for jobs and talent commerce. Lexington President and CEO
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Bob Quick said, we've made significant progress strengthening collaboration and
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building trust across the region. That success is rooted in
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the long standing relationships among local officials, economic development professionals,
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educational leaders, and business leaders for more than thirty years.
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That history of shared ideas and information made it easier
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to implement the regional plan. Collaboration is a powerful tool
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in economic development and talent attraction. By marketing our region's
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assets together, we can compete with much larger metros. Simply put,
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we are better together. We're proud of our progress and
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look forward to keeping the momentum going. The next article
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from the Lane Report is titled Local Business Boosting five
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oh Twesday returns Tuesday to Churchill Down's Derby Week lineup.
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Five Oh Tuesday returns Tuesday to Churchill Downs for its
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fourth year, bringing the community together at an iconic racetrack
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during Kentucky Derby Week to celebrate all that is uniquely Louisville,
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its people, its neighborhoods, and locally owned businesses. With a
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five dollars general admission, Louisville Independent Business Alliance LIBA again
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partners with Churchill Downs to bringing its mission of supporting
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locally owned businesses to one of the city's most iconic stages.
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Rooted in championing independent businesses and strengthening the local economy,
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liba's involvement helps create more intentional opportunities to spotlight Louisville's
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entrepreneurs during Derby season. With five dollars general admission, guests
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are encouraged to shop local by wearing looks from local
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boutiques while enjoying a day that celebrates the city's creativity
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and culture. Event highlights include Keep Louisville Weird Wall photo
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op on the second floor of the Paddock Terrace Neighborhood's
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Caricature Corner outside of Club Street featuring live illustrations inspired
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by local neighborhoods, and businesses in Style under the Spires
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Derby Week fashion contest, showcasing local designers and shops. Guests
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can enter by scanning a QR code on site and
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submitting a photo of their outfit. Finalists will be selected
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with the live contest held between races seven to eight
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at Paddock Terrace. The winner will receive a prize package
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from Churchill Downs and Liba. As part of this year's
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five Oh Tuesday, organizers will announce the return of the
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Louisville Original's Gift Card program, reviving a beloved initiative that
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has long supported the city's independent restaurant community. Originally launched
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in nineteen ninety six, Louisville Originals helped build a loyal
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following for locally owned restaurants. The program concluded in twenty
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twenty and is now being revived thanks to the support
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of Churchill Downs in Liva. While an official relaunch event
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will take place at a later date, consumers will be
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able to begin purchasing Louisville Original Gift Cards online starting
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on five oh Tuesday, offering an immediate way to support
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local businesses. Participating restaurants so far include The b A
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Colonial Bristol Bar, and Grill Chow Restaurante Eden and Kissi,
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Flannagan's Alehouse, Galaxy, Green District Salads, Lemonye sal Lulu Mayan Cafe,
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Mosey Pie Osteria, Italian Seafood, The Pine Room, and Shaq
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in the Back Barbecue. Five oh Tuesday continues to grow
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as a signature Kentucky Derby Week event, blending the excitement
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of the track with a meaningful focus on community connection
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and local Pridelva looks to this opportunity to shine a
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stronger spotlight on Louisville's local business community and to keep
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Louisville weird. Research shows that shifting just ten percent of
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purchasing to local independent businesses would keep an additional four
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hundred and sixteen million dollars circulating in the regional economy,
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supporting jobs and strengthening Louisville's business community. LIVA is a
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non profit organization whose mission is to cultivate the unique
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community character of the Metro Louisville area by promoting locally
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owned businesses and to educate citizens on the value of
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buying locally. Churchill Downs Racetrack has been the home of
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the Kentucky Derby the longest continually held annual sporting event
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in the United States since eighteen seventy five. Churchill features
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a series of themed race days during Derby Week, including
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the Kentucky Oaks, and conducts thoroughbred horse racing during three
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race meets in the spring, September, and the fall. Its
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one hundred seventy five acres include a one mile dirt track,
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a seven to eighth mile turf track, a stabling area,
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and seating for approximately sixty thousand guests. The stable area
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has barns sufficient to accommodate fourteen hundred horses and a
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one hundred fourteen room dormitory for backstretch personnel. Churchill Downs
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Racetrack also has a year round simulcast wagering facility. The
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next article from the Lane Report is titled Microsoft spotlights
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UK's campus wide approach to using AI tools and education.
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As artificial intelligence rapidly reshapes higher education, the University of
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Kentucky is taking a deliberate people's centered approach, one that
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emphasizes access, responsibility, and shared learning across campus. That work
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was recently featured by Microsoft in a national video spotlighting
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UK's use of Microsoft three sixty five Copilot and other
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AI tools. The recognition reflects how UK is aligning technology
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with its land Grant mission, not just adopting new tools,
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but building a framework to help faculty, staff and students
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use them thoughtfully and effectively. You're hearing discussions about AI
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everywhere you turn. UK President Eli Kappluto said in the video,
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sometimes the State of Kentucky gets left behind in these
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technological advancements. For UK leaders, that reality underscored both an
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opportunity and a responsibility building a unified strategy for AI,
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rather than allowing AI used to grow in silos. UK
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established cats AI the Commonwealth AI Transdisciplinary Strategy to bring
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coordination and shared purpose to AI adoption. The initiative connects students,
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faculty and staff across disciplines, ensuring decisions about AI reflect
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academic values, ethical considerations, and real world needs. We saw
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this as an opportunity to become one of the first
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AI universities for the state of Kentucky, said Ian McClure,
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vice President for Innovation at UK Healthcare and Associate Vice
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President for Research, Innovation and Economic Impact at UK. The
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Commonwealth AI Transdisciplinary Strategy is a framework to holistically support
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our entire community to responsibly adopt AI for good. Microsoft
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highlighted this coordinated framework as a key reason UK stands
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out nationally, noting that AI tools are paired with institutional leadership,
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not left to individual experience menation alone, turning access into opportunity.
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As part of its AI strategy, UK leverages Microsoft's enterprise tools,
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including Microsoft three sixty five Copilot, to provide broad access
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scaling resources so students and employees across campus can benefit
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regardless of discipline or role. More than seventy thousand students
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and employees have access to Microsoft three sixty five Copilot,
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Capaluto said, and it's not going to stop there. It's
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going to touch every corner of Kentucky. But university leaders
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emphasize that access alone is not enough to make AI
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approachable and understandable. UK launched the AI Literacy and Training
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Hub ALT Hub as part of cat's AI. The hub
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focuses on practical learning, helping the campus community understand how
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AI works, where it adds value, and how to use
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it responsibly. Several AI training sessions, both virtual and in person,
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have happened in April and will continue into May, with
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additional offerings planned throughout the summer. Topics range from introductory
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overviews to applied use cases relevant to teaching, administration, and research.
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More sessions will continue to roll out as the interest
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in campus needs evolve. AI in action across campus, across disciplines.
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Students and faculty are already using AI tools in ways
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that would have been out of reach just a few
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years ago. We are giving the students of Kentucky the
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opportunity to build things that typically would only be built
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in Silicon Valley or on the East Coast, said Tamma Thay, MD,
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Assistant professor in the UK College of Medicine, Department of
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Emergency Medicine. These are opportunities that I didn't have. Now
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we have a sandbox where people are building software and
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learning new stresses to use artificial intelligence. For medical students
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like Hunter Colson, that excess is reshaping learning itself. Some
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tutoring companies charged two hundred to three hundred dollars an
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hour to learn something complex like cardiology. That's just not realistic,
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Colso said. Using tools like gethub Copilot, we build a
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platform where you have a tutor in your pocket. You
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can interact with the material, ask questions and actually engage
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with content. UK students are also using AI to create
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impact beyond the classroom. Shalin McGuire, a biomedical engineering sophomore,
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recently used AI tools to build a website supporting a
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philanthropic initiative for her sorority. I use AI every day,
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McGuire said. Copilot helped me code and launch a website
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from nothing. We doubled the amount of donations in half
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the time. I can use AI to do so much
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more in my community and for others. Looking ahead, as
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AI continues to evolve, UK leaders say the university's focus
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remains the same, ensuring innovation serves people and advances learning,
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opportunity and service across the Commonwealth. The impact we can
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have with artificial intelligence is profound, they said. It's going
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to come from the students we train here and from
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how they take that knowledge back to their communities to
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shape the future. The next article comes from the April
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twenty eighth, twenty twenty sixth edition of Louisville Business First
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and is titled Goodwood Closes Another Restaurant written by Michael Jones,
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Goodwood Brewing and Spirits has closed another restaurants as its
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financial troubles continue to mount. The Louisville based brewery closed
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its Owensboro restaurant and tap room at one zero one
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Frederica Street on April twenty sixth, according to a report
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in The Messenger Inquirer in Owensboro, one day before a
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Davy's Circuit Court judge entered a nearly one hundred thousand
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dollars default judgment against the company's owners over unpaid rent.
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Judge David Payne entered the judgment April twenty seventh against
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Goodwood owners Ted Mitzlaf and Peter McDermott, awarding landlord entertainment
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at the Enclave ninety nine thousand, six hundred four dollars
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and ninety six cents plus related court and attorney fees.
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The landlord sued Goodwood over more than one hundred twenty
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thousand dollars in alleged unpaid rent dating back to November.
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According to court records. Enclave also was granted a temporary
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restraining order on April twenty third, barring Goodwood from removing
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equipment from the property. A motion hour is scheduled for
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two pm Thursday, April thirtieth in the case. Louisville Business
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First reported on April first that Goodwood is undergoing an
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ownership transition while facing mounting financial troubles, including multiple lawsuits
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alleging non payment of rent, services, and taxes. Ted Burtuca,
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junior of Bertucka Hospitality Group, owner of Doc Crow's Southern
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Smokehouse and Raw Bar on Whiskey Row, posted on Facebook
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on April twenty second that his company was taking over
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leases on Goodwood locations in Frankfort, Lexington, and o'fallen, Missouri.
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Mitslaugh told LBF that Bertucka Hospitality attempted to negotiate a
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deal to keep the Owensboro location open. The new owners
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were not able to come to terms with the landlord
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over the lease agreement. Mitzlaf said in a text message,
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Bertucka Hospitality wanted a fixed rent and the landlord wanted
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a base rent plus a percentage rent. Expansion and contraction
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of Goodwood, Mitzlaf and four business partners founded Goodwood Brewing
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after purchasing the brewery as a sets of Bluegrass Brewing Company.
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In twenty fifteen. The BBC location on Main Street rebranded
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as Goodwood Brewing, shifting its focus to barrel aged beers
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while remaining a separate legal entity from the remaining BBC brewpubs.
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Following the rebrand, Goodwood expanded aggressively, opening locations in Frankfort, Lexington, Owensboro, Columbus, Ohio,
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and Indianapolis. The company operates tap room style restaurants featuring
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burgers and Southern inspired menu items. Several out of state
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locations have since closed. Goodwood shuttered its Columbus Arena District
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location in March of twenty twenty four, roughly two years
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after opening. Its downtown Indianapolis brew pub closed. At the
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end of twenty twenty three, the company abruptly closed its
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tap rooms and restaurants at six three six East Main
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Street in newlu and one two to one West Main
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Street on Wisski Row in downtown Louisville on March thirtieth.
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The company, for years has been the largest brewery in
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Greater Louisville by production volume. In a March interview, Mitzlaf
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attributed the brewery's financial struggles to a string of operational
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setbacks in twenty twenty five, including chiller and boiler failures
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that cut production by roughly twenty five percent, as well
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as weather related disruptions. Our Frankfort restaurant flooded and our
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Owensboro restaurant flooded, so they were both closed for about
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a week and a half. Mitslaugh said, and then we
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had pipes burst in Owensboro, not in our restaurant, but
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in the condo above, and it flooded our restaurant. Pending
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lawsuits against Goodwood. Goodwood faces several additional lawsuits from investors, vendors,
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and landlords, including Colorado based Numbers Holding Company LLC, which
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subleased the nearly twenty thousand square foot whiskey row space
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to the brewery. Numbers Holding, which does business as Number fifteen,
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is suing Goodwood in Jefferson's Circuit Court for nearly two
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hundred and twenty five thousand dollars in alleged unpaid rent
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and property taxes. Two major food vendors also have filed suit.
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Cisco alleges unpaid invoices and filed a motion for summary
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judgment March eleventh. Creation Gardens, which operates as What Chefs Want,
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sued Goodwood in January of twenty twenty five, alleging the
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brewery ows roughly fifty four thousand dollars. That case remains pending.
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Louisval based Alter GW one fund A Kentucky Limited, liability
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company is also suing Goodwood for more than seventy one
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thousand dollars in unpaid dividends. Alter Fund is comprised of
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investors who formed the company to invest in Goodwood Holdings,
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which controlled Goodwood's restaurants. According to court records, Goodwood Brewing
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Company LLC owns fifty one units of the holding company,
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Alter Fund owns forty four units, and Midslaugh owns five units.
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Under the agreement, Goodwood Holdings and Midslaugh were required to
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pay Alter Fund dividends equal to one point five percent
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of the gross monthly receipts of each restaurant. Jefferson's Circuit
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Court Judge Eric Hayner held Goodwood and Mitslaugh in contempt
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in December of twenty twenty five for failing to pay
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to Alter by August twenty ninth of twenty twenty five.
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The judge also ordered Midslaugh removed as manager of Goodwood Holdings.
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Alter filed a second motion for contempt in February, alleging
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continued non compliance with the original order. A hearing is
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scheduled for nine am on May fourteenth. The next article
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from Louisville Business First is titled UFL launches athletics revenue
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organization Written by David Mann, a new organization has been
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created to help help the University of Louisville navigate the
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financial landscape of college sports. The University of Louisville Board
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of Trustees approved the creation of the Cardinal Ventures, a
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new affiliated, nonprofit entity designed to modernize the business operations
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of Louisville Athletics and unlock new revenue and brand growth opportunities.
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According to a news release, the move positions U of
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L among a growing group of programs adjusting their operating
25:28
models in response to the rapid evolution of name, image
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and likeness in il and revenue sharing across college sports.
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Cardinal Ventures will serve as a centralized platform to maximize
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revenue generation, expand strategic partnerships, and amplify the Louisville Athletics brand,
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directly supporting the success and visibility of its programs and
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student athletes. The release said, this is about positioning Louisville
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to compete and win in the model era of college athletics,
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said Vice President and Director of Athletics Josh Hurd. Cardinal
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Ventures gives us the operational flexibility to grow revenue maximize
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brand value and create meaningful opportunities for our student athletes.
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Last fall, heard was on lbf's Access Louisville podcast along
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with Mark Hill, Deputy Athletic Director for the University of Kentucky,
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and we spoke about the state of athletics funding. University
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leadership emphasized the long term impact of the new structure.
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Today's action reflects our commitment to best position Louisville Athletics
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for sustained success, said President Jerry Bradley in the release.
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The modernized approach strengthens our ability to generate resources and
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compete at the highest level nationally. This is a decisive
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step forward, said Larry Benn's, chair of the Board of Trustees.
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It creates the rights structure to grow, adapt and lead
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while maintaining strong institutional oversight and alignment. During the same
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Thursday meeting, Bradley also announced U of l is re
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engaging with John Schnadder, founder and former CEO of Papa
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John's International Incorporated. The school had cut ties after Schnatter
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set a racial slur on a media training call in
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twenty eighteen, which effectively led to his ouster from the
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company he founded. Schnatter doesn't deny saying the word in question,
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but disputes the context in which it was used. Cardinal
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Ventures will operate with dedicated board governance that includes university leadership.
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Establishment will begin immediately, with a phased implementation rollout expected
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in the coming months. In other recent u of L news,
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we reported earlier this week that ground has been broken
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on a new two hundred eighty million dollars new health
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science building located on Preston Street. This concludes the reading
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of the most recent business news in Lexington, Louisville and
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around the state. Your reader to day has been Julia Shame.
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If you have any questions or comments about this program,
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please give our Lexington Studios a call at eight five
28:14
nine four two two six three nine zero. Thanks for listening,
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and now please stay tuned for readings from the Kentucky
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series here on Radio I