Latest / Kentucky Business News / 10.8.26

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10.8.26 · Kentucky Business News

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  Speaker 1: Hello. Today I'll be reading from business sources in Lexington
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  Speaker 1: and Louisville, including the Lane Report and others from around
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  Speaker 1: the Commonwealth. Your reader today is Julia Shane. As a reminder,
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  Speaker 1: Radio Eye is a reading service intended for people who
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  Speaker 1: are blind or who have other disabilities that make it
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  Speaker 1: difficult to read printed material. Our first article comes from
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  Speaker 1: the October 1, 2026 edition of the Lane Report. It
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  Speaker 1: is titled Parlor Pizza and Pints, opening third Lexington area
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  Speaker 1: location in Hamburg. Parlor Pizza and Pints is expanding its
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  Speaker 1: presence in central Kentucky with a third Lexington area restaurant
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  Speaker 1: opening October 9th in Hamburg. The new Parlor Pizza and
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  Speaker 1: Pints will be located at 1997 Justice Drive and will
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  Speaker 1: officially open to the public at 11 a.m. on October 9th.
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  Speaker 1: The opening will follow several days of preview events and
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  Speaker 1: charity night benefiting local organizations. The Hamburg restaurant adds to
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  Speaker 1: Parler's growing footprint in Lexington and gives the restaurant brand
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  Speaker 1: a location in one of the city's busiest retail and
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  Speaker 1: dining corridors. Opening our third location in the Lexington market
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  Speaker 1: is a big milestone for Parler Pizza and Pints, but
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  Speaker 1: what we're most excited about is being part of another community.
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  Speaker 1: said Don Robinson, CEO and president of Parlor Pizza and Pints.
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  Speaker 1: We built Parlor around bringing people together. Opening week gives
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  Speaker 1: us an opportunity to start doing exactly that before we
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  Speaker 1: ever officially open our doors. The restaurant will begin opening
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  Speaker 1: week activities on October 6th with a friends and family
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  Speaker 1: night designed to give employees additional training and preparation before
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  Speaker 1: the public openings. On October 7th, Parler will host Lexington
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  Speaker 1: area's first responders and city workers from noon to 2 p.m.,
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  Speaker 1: offering complimentary food as part of a community appreciation event.
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  Speaker 1: Dine-in and call-in carry-out service will also be available. Later
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  Speaker 1: that evening, the restaurant will hold Youth Sports Night from
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  Speaker 1: 6 to 8.30 p.m. Local youth athletes, coaches, and their
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  Speaker 1: families will be invited to preview the restaurant and receive
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  Speaker 1: complimentary food. Reservations are required for the event. An official
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  Speaker 1: ribbon-cutting ceremony is scheduled for 10 a.m. on October 8th
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  Speaker 1: with the Lexington Chamber of Commerce. The restaurant will then
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  Speaker 1: host a VIP charity night from 6 to 9 p.m.
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  Speaker 1: on October 8th, with 100% of the evening's proceeds being
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  Speaker 1: donated to local charitable organizations. Parler is partnering for the
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  Speaker 1: event with the Jessica's Journey Foundation and which Robinson and
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  Speaker 1: his wife founded in memory of their daughter, Jessica. The
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  Speaker 1: foundation was created to continue Jessica's legacy of compassion and
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  Speaker 1: helping others. Its work was inspired in part by the
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  Speaker 1: comfort Jessica received from a therapy dog during a hospital stay.
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  Speaker 1: Proceeds from the Hamburg event will be donated to the
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  Speaker 1: Jessica's Journey Foundation and distributed among local charities and organizations
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  Speaker 1: serving the Hamburg area. Jessica's journey is incredibly personal to
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  Speaker 1: our family, and it means a lot to be able
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  Speaker 1: to carry her spirit of compassion into the communities Parlor
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  Speaker 1: Pizza and Pints serves, Robinson said. As we open our
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  Speaker 1: doors in Hamburg, we want to begin by listening, building relationships,
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  Speaker 1: and giving back. Robinson said every dollar raised during the
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  Speaker 1: charity event will be directed back to organizations serving the
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  Speaker 1: community surrounding the new restaurant. The VIP charity night is
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  Speaker 1: RSVP only. Following the four-day series of preview and community events,
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  Speaker 1: Parlor Pizza and Pints Hamburg will begin regular public operations
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  Speaker 1: at 11 a.m. on Friday, October 9th. About Parlor Pizza
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  Speaker 1: and Pints. Founded in 2017 in Jeffersonville, Indiana, Parlor Pizza
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  Speaker 1: and Pints brings people together over artisan pizza, house-smoked wings,
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  Speaker 1: craft beer, handcrafted cocktails, and genuine hospitality. With locations throughout
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  Speaker 1: Kentucky and southern Indiana, Parlor Pizza and Pints creates vibrant,
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  Speaker 1: welcoming spaces designed for everything from family dinners and celebrations
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  Speaker 1: to casual nights out with friends. The next article from
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  Speaker 1: the Lane Report is titled, Small Businesses in Kentucky Could
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  Speaker 1: Face 14% Health Insurance Premium Increases in 2027. Small businesses
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  Speaker 1: already preparing for another year of rising employee health benefit
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  Speaker 1: costs could face even steeper increases than previously projected, with
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  Speaker 1: insurers in the small group market proposing a median premium
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  Speaker 1: increase of 14% for 2027. An analysis by KFF of
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  Speaker 1: preliminary rate filings from 295 insurers across all 50 states
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  Speaker 1: and the District of Columbia shows found that the median
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  Speaker 1: proposed increase for Affordable Care Act-compliant small group health plans
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  Speaker 1: is approximately 14%. Small group plans generally cover businesses with
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  Speaker 1: 50 or fewer full-time and equivalent employees. The new figures
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  Speaker 1: provide additional context to broader projections showing employer health care
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  Speaker 1: costs rising at a high single-digit rate in 2027. The
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  Speaker 1: difference is important for Kentucky businesses. The 14% figure does
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  Speaker 1: not mean every employer should expect his health insurance premium
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  Speaker 1: to increase by 14%. Instead, it represents the median proposed
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  Speaker 1: increase among insurers offering ACA-compliant small group coverage nationally. The
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  Speaker 1: figure is also not weighted by the number of people
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  Speaker 1: enrolled with each insurer, according to KFF. Still, the filings
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  Speaker 1: point to significant cost pressure for smaller employers. KFF found
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  Speaker 1: that 59% of small group insurers are proposing increases between
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  Speaker 1: 10% and 20% for 2027. The 25th percentile increase is 10%,
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  Speaker 1: while the 75th percentile increase is 18%. Insurers cited rising
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  Speaker 1: medical prices and increased use of health care services as
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  Speaker 1: major reasons for the increase. Other factors include expensive specialty medications,
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  Speaker 1: increased use of GLP-1 drugs, and behavioral health services. The
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  Speaker 1: findings also suggest changes occurring within the small group insurance
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  Speaker 1: market itself are contributing to higher costs. Some healthier small
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  Speaker 1: businesses are moving from traditional fully insured coverage to level
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  Speaker 1: funded or other self-funded arrangements. That can leave the traditional
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  Speaker 1: small group insurance pool with a greater concentration of employers
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  Speaker 1: and employees with higher health care costs. As the risk
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  Speaker 1: pool changes, insurers may need to collect higher premiums from
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  Speaker 1: employers remaining in the traditionally funded insured plans. The latest
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  Speaker 1: small group figures are higher than several projections covering the
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  Speaker 1: broader employer-sponsored health insurance market. Aon, for example, projects U.S.
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  Speaker 1: employer health care costs will increase an average of 9.5%
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  Speaker 1: in 2027, pushing average employer costs above $ 19, 000 per employee.
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  Speaker 1: The Business Group on Health reported that large employers participating
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  Speaker 1: in its annual survey expect a median health care cost
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  Speaker 1: trend of 9.2% for 2027 before employers make changes to
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  Speaker 1: their health plans. After plan design and other cost management measures,
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  Speaker 1: employers expect increases of approximately 8%. Those estimates are not
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  Speaker 1: necessarily contradictory. They examine different segments of the employer health
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  Speaker 1: insurance market and use different methodologies. The KFF analysis focuses
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  Speaker 1: specifically on proposed premiums for ACA-compliant small group insurance, while
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  Speaker 1: broader employer studies include larger organizations and measure overall employer
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  Speaker 1: health benefit costs. For Kentucky's smallest businesses, however, double-digit premium
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  Speaker 1: increases could create difficult decisions heading into 2027. Smaller companies
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  Speaker 1: generally have fewer employees across whom they can spread health
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  Speaker 1: care costs and less negotiating leverage than large employers. Significant
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  Speaker 1: premium increases can leave businesses deciding whether to absorb the
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  Speaker 1: additional expense, increase employee contributions, change deductibles or benefits, move
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  Speaker 1: to another type of health plan, or reconsider offering coverage.
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  Speaker 1: The challenge extends beyond the immediate insurance expense. Health insurance
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  Speaker 1: remains an important part of employee compensation, particularly when small
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  Speaker 1: businesses are competing for workers against larger employers that can
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  Speaker 1: offer more extensive benefit packages. Prescription drug spending is one
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  Speaker 1: area employers are increasingly examining for potential savings. Specially medications
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  Speaker 1: and growing utilization of GLP-1 drugs used to treat diabetes
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  Speaker 1: and obesity are among the factors insurers cite in their
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  Speaker 1: 2027 small group rate filings. Employers are also paying greater
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  Speaker 1: attention to how pharmacy benefit managers negotiate drug prices, collect
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  Speaker 1: manufacturer rebates, and structure pharmacy networks. The Business Group on
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  Speaker 1: Health found that employers are increasingly considering changes to to
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  Speaker 1: their pharmacy benefit manager arrangements as they look for ways
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  Speaker 1: to control rising health care spending. For small Kentucky employers,
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  Speaker 1: the latest numbers make one point increasingly clear. Businesses should
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  Speaker 1: not assume a single national health care inflation figure will
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  Speaker 1: accurately predict what happens to their own insurance renewal. Actual
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  Speaker 1: 2027 increases will depend on factors including the insurer, plan,
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  Speaker 1: employee population, geographic market, and type of funding arrangement, and
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  Speaker 1: the 14% figure remains a measure of proposed rate increases
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  Speaker 1: rather than a prediction that every small employer will experience
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  Speaker 1: a 14% increase. But with nearly 6 in 10 ACA-compliant
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  Speaker 1: small group insurers nationally seeking increases between 10% and 20%,
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  Speaker 1: businesses heading into 2027 should be prepared for another year
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  Speaker 1: in which employee health benefits consume a growing share of
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  Speaker 1: operating expenses. The next article from the Lane Report is titled,
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  Speaker 1: Medea Expands Louisville Research Center to 157,000 Square Feet. Medea
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  Speaker 1: America Corporation has significantly expanded its research and innovation operations
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  Speaker 1: in Louisville, growing its Medea America Research Center to 157,000
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  Speaker 1: square feet, and adding 22 laboratories as the global appliance
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  Speaker 1: company increases its U.S.-based product development capabilities. The expansion increases
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  Speaker 1: the research center's footprint by approximately 400%, including 127,000 square
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  Speaker 1: feet of additional space. The larger Louisville facility brings consumer research, engineering,
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  Speaker 1: product development, and testing operations together under one roof. Medea
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  Speaker 1: said the investment is designed to strengthen its ability to
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  Speaker 1: develop appliances specifically for the U.S. market while supporting the
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  Speaker 1: company's long-term presence in Louisville. The most meaningful innovations start
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  Speaker 1: with a deep understanding of people's lives, said Justin Reinke,
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  Speaker 1: president of Medea America Corporation. This expansion gives our teams
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  Speaker 1: more opportunities to listen, learn, and turn unmet needs into thoughtful,
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  Speaker 1: innovative appliances that that can make life at home a
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  Speaker 1: little easier. In addition to the 22 laboratories, the expanded
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  Speaker 1: facility includes product showrooms, auditoriums, and dedicated collaboration spaces for
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  Speaker 1: employees involved in research, engineering, and product development. The Medea
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  Speaker 1: America Research Center supports the company's U.S. research and innovation
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  Speaker 1: work across several major appliance categories, including refrigeration, dishwashers, cooking, laundry,
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  Speaker 1: air treatment, floor care, and small appliances. Products developed with
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  Speaker 1: contributions from the Louisville operation include Medea's Straw Wash Dishwasher
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  Speaker 1: with Total Tumbler Clean 50-50 Flex Upright Convertible Freezer and
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  Speaker 1: One-Touch Auto-Fill French Door Refrigerator. The expansion represents substantial growth
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  Speaker 1: for an operation that began in Louisville more than a
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  Speaker 1: decade ago. Medea established the research center in Louisville in
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  Speaker 1: 2015 with a single employee. The operation has since grown
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  Speaker 1: to approximately 130 employees, developing into an important U.S. research
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  Speaker 1: and engineering center for the international appliance manufacturer. With expanded
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  Speaker 1: research and testing capabilities, we are well positioned to build
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  Speaker 1: on that momentum, develop the next generation of technical talent,
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  Speaker 1: and continue advancing home appliance innovation. said Adam Schultz, executive
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  Speaker 1: director of the Medea America Research Center. The Louisville Center
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  Speaker 1: also works to develop a pipeline of engineering and technical
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  Speaker 1: talent through university partnerships and co-op programs. Students participating in
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  Speaker 1: the programs receive practical experience in research, engineering, and product development.
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  Speaker 1: The expanded center adds to Kentucky's presence in the appliance
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  Speaker 1: manufacturing and engineering sector. Louisville has a long history in
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  Speaker 1: the home appliance industry, providing Medea access to an established
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  Speaker 1: workforce with experience in engineering, manufacturing, product testing, and related fields.
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  Speaker 1: Medea America is headquartered in New Jersey, while Louisville, Kentucky
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  Speaker 1: serves as the company's U.S. innovation hub. Medea America is
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  Speaker 1: part of Medea Group, a Fortune 500 company with more
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  Speaker 1: than 166,000 employees and operations or a presence in more
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  Speaker 1: than 200 countries. The company produces kitchen appliances, air conditioners,
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  Speaker 1: laundry equipment, floor care products, and other home appliances. The
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  Speaker 1: Louisville expansion gives Medea substantially more capacity to conduct research, testing,
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  Speaker 1: and product development in the United States as the company
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  Speaker 1: continues to grow its presence in the American appliance market.
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  Speaker 1: The next article comes from the October 3rd, 2026 edition
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  Speaker 1: of the Louisville Courier-Journal and is titled, Wes Henderson ousted
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  Speaker 1: as Kentucky Castle Company CEO after voyeurism lawsuit. The parent
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  Speaker 1: company of the Kentucky Castle and True Story Whiskey terminated
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  Speaker 1: Chief Executive Officer Wes Henderson on October 3rd after details
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  Speaker 1: from a sealed lawsuit were revealed. In the lawsuit, filed
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  Speaker 1: in June in Oldham County and obtained by the Courier-Journal,
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  Speaker 1: members of Henderson's family accused him of secretly filming guests
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  Speaker 1: and family members at the Kentucky Castle and other locations
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  Speaker 1: in various stages of undress, sometimes participating in sexual acts.
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  Speaker 1: The allegations are based on footage found on the SD
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  Speaker 1: cards of numerous hidden cameras. The cameras also captured the defendant,
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  Speaker 1: Wes Henderson, having sex with other women, not his wife,
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  Speaker 1: the suit alleges. Upon information and belief, the cameras captured
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  Speaker 1: other adults having sex, as well as footage of what
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  Speaker 1: appeared to be a homeless individual, potentially a minor, who
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  Speaker 1: happened to be carrying a portable medical device using the restroom.
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  Speaker 1: In a statement released by the board and leadership of
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  Speaker 1: parent company TKC Distilling, Higher-ups say the termination of Henderson's
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  Speaker 1: employment is effective immediately, following the allegations in the lawsuit.
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  Speaker 1: Kyle Henderson, the oldest of Wes Henderson's six sons, will
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  Speaker 1: assume the role while the board conducts a full independent
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  Speaker 1: investigation into the allegations. A total of 40 people were
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  Speaker 1: identified as being recorded without their knowledge in the lawsuit.
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  Speaker 1: Some of the footage allegedly included Henderson deliberately using placing
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  Speaker 1: the camera to capture views of a bed. Upon investigating
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  Speaker 1: the cameras, the lawsuit claims the plaintiffs learned some of
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  Speaker 1: the devices were capable of live streaming, allowing third parties
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  Speaker 1: to potentially view what the cameras were capturing. Cameras were
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  Speaker 1: allegedly found disguised as fire alarms in a fan, in
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  Speaker 1: a clock, and in multiple charging blocks and plug outlet extenders.
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  Speaker 1: The filing also claims after being confronted over the course
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  Speaker 1: of almost a year, Henderson frequently apologized for his actions
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  Speaker 1: and requested forgiveness through several text messages. The name of
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  Speaker 1: Henderson's attorney for the recent lawsuit has not been made public.
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  Speaker 1: A Courier-Journal reporter's call to Henderson was immediately declined after
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  Speaker 1: they recorded their name and reason for calling. The plaintiffs
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  Speaker 1: accuse Henderson of invasion of privacy and voyeurism, and possession
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  Speaker 1: of matter portraying a sexual performance by a minor and
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  Speaker 1: request punitive damages for pain and suffering, medical expenses, and
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  Speaker 1: seek a jury trial. Henderson has owned the Kentucky Castle
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  Speaker 1: and Versailles since 2023. He was also co-founder of Angels
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  Speaker 1: Envy Bourbon, which was sold to Bacardi Limited in 2015.
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  Speaker 1: Angels Envy has removed Henderson's name from its Our Story
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  Speaker 1: webpage and where he was previously mentioned as a co-founder.
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  Speaker 1: Henderson has also served as a deputy coroner in Oldham
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  Speaker 1: County and is a Kentucky Bourbon Hall of Fame inductee.
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  Speaker 1: After the allegations surfaced, Henderson stepped down from his role
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  Speaker 1: at the coroner's office and took an unpaid leave of
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  Speaker 1: absence until further notice, Oldham County Coroner David Pendleton said
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  Speaker 1: on October 3rd. The decision happened before I could issue
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  Speaker 1: a notice of suspension, he said. Henderson is also facing
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  Speaker 1: multiple unrelated lawsuits for debts totaling over $ 1. 5 million owed
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  Speaker 1: by his business. The next article comes from the October
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  Speaker 1: 2nd edition of Louisville Business First and is titled Local
• 18:55
  Speaker 1: LinkedIn Star Launches Coaching Firm, written by Joel Stennett. If
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  Speaker 1: you're on LinkedIn and you're a member of Louisville's business community,
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  Speaker 1: there's a good chance you're connected to Jordan Clemens. The
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  Speaker 1: former Greater Louisville Incorporated Senior Director of Investor Services has
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  Speaker 1: nearly 15,000 connections, most of whom live in Derby City.
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  Speaker 1: That puts Clemens among the top 1% of all LinkedIn
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  Speaker 1: users on the platform, and he wants the rest of
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  Speaker 1: Louisville to join him at the top. Clemens has launched
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  Speaker 1: Jordan Clemens Coaching, a business coaching platform designed to help
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  Speaker 1: people build relationships and grow their LinkedIn network. The platform
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  Speaker 1: offers group LinkedIn coaching, one-on-one LinkedIn coaching, and LinkedIn training
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  Speaker 1: for teams and organizations. Clemens said many people don't understand
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  Speaker 1: how to interact with other people on LinkedIn because it's
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  Speaker 1: not like Facebook or Instagram. Many users aren't sure what
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  Speaker 1: to post or how often to post on the platform.
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  Speaker 1: Clemens said he helps clients build a strategy around the
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  Speaker 1: platform to deliberately target the right people without having to
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  Speaker 1: spend all day online. The purpose is not just to
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  Speaker 1: make more connections on the platform. but to build real
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  Speaker 1: relationships that will produce opportunities, Clemens said. Half of what
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  Speaker 1: I'll be teaching people how to do is understanding the
• 20:17
  Speaker 1: foundational elements of networking and dealing with people, which you
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  Speaker 1: can translate to any job. Then what I do is
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  Speaker 1: marry that old school foundational, never going to change knowledge
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  Speaker 1: about humans with the 21st century, Clemens said. LinkedIn is
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  Speaker 1: a place where you can connect with people at scale.
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  Speaker 1: You can create more opportunities. You can't be at all
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  Speaker 1: the networking events in town that there are, but there
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  Speaker 1: are over 300 million people last time I checked on LinkedIn.
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  Speaker 1: Your target clientele, if you're in the business world, is
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  Speaker 1: on there. The coaching is really teaching people how to
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  Speaker 1: do business development and then how to use LinkedIn as
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  Speaker 1: a tool so they can do that at scale. The
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  Speaker 1: next article from Louisville Business First is titled Mother Daughter
• 21:04
  Speaker 1: Team Opens Shelby Park Cafe. written by Michael Jones. A
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  Speaker 1: Louisville coffee shop known for its ghost-themed matcha drinks has
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  Speaker 1: opened its first brick-and-mortar location in Shelby Park. Mooncrest Cafe
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  Speaker 1: opened in late August at 1149 South Shelby Street in
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  Speaker 1: a 2,200-square-foot building previously occupied by Trouble Bar and Nook
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  Speaker 1: & Nowhere. The cafe sits next door to Good Folks
• 21:33
  Speaker 1: Coffee in the growing Shelby Park Commercial Corridor. The business
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  Speaker 1: was founded by mother and daughter team Misty Harrell and
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  Speaker 1: Gianna Manzo, who launched Mooncrest as a vendor inside Logan
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  Speaker 1: Street Market in November. After roughly seven months, Harrell said
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  Speaker 1: demand and growing customer interest prompted them to seek a
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  Speaker 1: larger space. She just decided she wanted to start a
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  Speaker 1: cafe and we just jumped into it, Harrell said. We
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  Speaker 1: knew we wanted something spiritual, so we were like Lunar Moon.
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  Speaker 1: and we knew we were going to do bagels and
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  Speaker 1: things like that. So, Mooncrust. Mooncrust gained attention at Logan
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  Speaker 1: Street Market for its ghost-themed matcha buckets, which attracted customers
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  Speaker 1: through social media and helped build the cafe's following. The
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  Speaker 1: duo took over the Shelby Street property shortly after Nook
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  Speaker 1: & Nowhere closed in May. The building is owned by
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  Speaker 1: Brighton Stein Properties, LLC, according to Jefferson County Property Valuation
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  Speaker 1: Administrator Records. Harrell said she invested about $ 30, 000 to open
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  Speaker 1: the cafe, which employs about 10 people. Literally everything in
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  Speaker 1: here we had to buy, all the furniture and equipment,
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  Speaker 1: Harrell said. Because we came from Logan Street, this little
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  Speaker 1: tiny space into this area, and we had nothing. Mooncrust's
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  Speaker 1: menu includes specialty coffee drinks, matcha, boba tea, artisan bagels,
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  Speaker 1: breakfast and lunch items, croissant sandwiches, salads, and desserts. Prices
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  Speaker 1: range from $ 3. 50 to $ 12. 44. Manzo said her mother focused
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  Speaker 1: on the food menu while she prepared the drink selections.
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  Speaker 1: I have a lot of coffee experience when it comes
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  Speaker 1: to how to make stuff and layer stuff, Manzo said,
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  Speaker 1: but I wanted to be different in the flavors we use.
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  Speaker 1: We looked up a bunch of weird drinks like the
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  Speaker 1: butterfly pea matcha. We wanted to be really different. We
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  Speaker 1: want it to be eye-catching so someone is like, I've
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  Speaker 1: never seen that before. The owners have leaned into whimsical aesthetics,
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  Speaker 1: describing the business as a witchy-inspired cafe with a hidden
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  Speaker 1: garden space tucked behind a door covered in faux flowers.
• 23:51
  Speaker 1: Harrell said her daughter is a musician and the cafe
• 23:54
  Speaker 1: has begun hosting alcohol-free late-night events aimed at younger patrons.
• 23:59
  Speaker 1: Here lately, we've started doing raves so kids have a
• 24:03
  Speaker 1: place to come and it'll be a safe community for them,
• 24:06
  Speaker 1: she said. So we've got a lot of people on
• 24:08
  Speaker 1: the scene who come to hang out. We've got a
• 24:11
  Speaker 1: lot of promotion that way, too. Mooncrest Cafe is open
• 24:15
  Speaker 1: from 9 a.m. to 7 p.m., Wednesday through Sunday. The
• 24:19
  Speaker 1: next article from Louisville Business First is titled, New Details
• 24:23
  Speaker 1: Released on Developments Near UK. Two Projects Aimed to Bolster
• 24:27
  Speaker 1: the Fan Student Experiences. Written by Stephen Schmidt. The University
• 24:33
  Speaker 1: of Kentucky Athletics is planning not one, but two entertainment districts,
• 24:38
  Speaker 1: with one next to Kroger Field and the other at
• 24:40
  Speaker 1: Historic Memorial Coliseum. Kevin Locke provided updates to the latest
• 24:45
  Speaker 1: meeting of the Champion Blues LLC Board of Governors last month.
• 24:50
  Speaker 1: Locke serves as the Associate Vice President for Planning, Design,
• 24:53
  Speaker 1: and Construction at UK. This integrates athletics, academics, housing, and
• 24:58
  Speaker 1: community life into districts that work 365 days a year,
• 25:03
  Speaker 1: not just on Saturdays in the fall, Locke told the board.
• 25:07
  Speaker 1: The one-year Kroger Field plans to include a hotel and
• 25:10
  Speaker 1: conference center, multi-use basketball training facility, food hall, innovation center,
• 25:16
  Speaker 1: student housing, and an amphitheater outdoor event space. The historic
• 25:21
  Speaker 1: Memorial Coliseum Entertainment District will feature a new welcome center
• 25:25
  Speaker 1: with alumni engagement offices, career center, parking garage, and new
• 25:31
  Speaker 1: academic buildings. Both districts will include mixed-use spaces with residential
• 25:36
  Speaker 1: and retail space. For us, we think of game day
• 25:40
  Speaker 1: driveway to driveway. When you leave your house and you
• 25:43
  Speaker 1: get to Lexington until you leave, extending that, whether it's
• 25:47
  Speaker 1: through a hotel or experiences, is important, UK Athletics Director
• 25:52
  Speaker 1: Jay Batt told the media. It deepens our connection, it
• 25:56
  Speaker 1: provides new opportunities, and we certainly are excited about what
• 26:00
  Speaker 1: that might be coming. Locke said that the steering committee
• 26:04
  Speaker 1: behind these projects has met four times, with its fifth
• 26:07
  Speaker 1: and final meeting coming October 5th. It conducted more than
• 26:11
  Speaker 1: 12 interviews with potential developers. A first draft of a
• 26:15
  Speaker 1: Request for Proposal, RFP, should be finalized by December or January.
• 26:20
  Speaker 1: Moving forward with projects. Craig Collins is the CEO of
• 26:24
  Speaker 1: Beyond Blue Corporation, as well as the Senior Vice President
• 26:28
  Speaker 1: and Chief Financial Officer of UK Healthcare. At the meeting,
• 26:32
  Speaker 1: Collins presented a financial report to the board. He provided
• 26:35
  Speaker 1: a recap about how Champions Blue was founded, with a
• 26:40
  Speaker 1: $ 141 million internal loan, with $ 31 million going to operating
• 26:45
  Speaker 1: expenses and the other $ 110 million being set aside for
• 26:48
  Speaker 1: multi-year capital projects. Since June of 2025, Champions Blue has
• 26:53
  Speaker 1: identified five capital projects with a scope of earmarking $ 55. 5
• 26:58
  Speaker 1: million and having committed $ 30. 8 million. That includes $ 15 million
• 27:05
  Speaker 1: for general Kroger Field maintenance, $ 14. 9 million to renovate the
• 27:09
  Speaker 1: corner suites and elevators at Kroger Field, $ 17. 5 million for
• 27:14
  Speaker 1: the West End Zone Club and Wi-Fi improvements inside Kroger Field,
• 27:19
  Speaker 1: with just $ 1. 1 million committed so far, $ 3 million for
• 27:23
  Speaker 1: upgrades at the Joe Craft football training facility, and $ 4. 9
• 27:27
  Speaker 1: million for improvements to the soccer and softball facilities. Collins
• 27:31
  Speaker 1: later reported that Champions Blue operated in fiscal 2026 at
• 27:34
  Speaker 1: a loss of $ 15. 1 million, which was 96% of the
• 27:36
  Speaker 1: estimated loss of the $ 15. 7 million. UK Athletics had a
• 27:45
  Speaker 1: total operating revenue of $ 144. 4 million and a total operating
• 27:50
  Speaker 1: expense of $ 197. 9 million, resulting in a 37.1% operating loss
• 27:58
  Speaker 1: of $ 53. 5 million. This concludes the reading of the most
• 28:02
  Speaker 1: recent business news in Lexington, Louisville, and around the state.
• 28:06
  Speaker 1: Your reader today has been Julia Shane. If you have
• 28:09
  Speaker 1: any questions or comments about this program, please give our
• 28:12
  Speaker 1: Lexington studios a call at 859-422-6390. Thanks for listening. And
• 28:20
  Speaker 1: now please stay tuned for readings from the Kentucky series
• 28:22
  Speaker 1: here on Radio Eye.