FAST LANE - October 1999

RUSSELL
Opening of New Credit Card Center to Bring up to 800 Jobs

A Delaware-based credit card company is opening a customer service center in Russell that is expected to initially create some 500 jobs and the possibility of 300 more within the next year. Applied Card Systems, which primarily services Visa and MasterCard customers for Cross Country Bank, will move into the top floor of the AEI Headquarters building this month. The building previously housed Ashland, Inc. until they moved their headquarter operations to Covington earlier this year. In addition to hiring customer service and collection associates, Applied Card Systems will also be hiring human resource personnel, systems technicians, buyers and security personnel. The average wage at the Russell facility will be around $21,600, according to company officials. Applied Card Systems will receive $4 million in tax credits under the Kentucky Jobs Development Act (KJDA), an incentive program aimed at increasing the number of service- and technology-related jobs in the state. The company currently has offices in Wilmington, Delaware; Boca Raton, Florida and Huntington, West Virginia.

STATE
Collins Appointed Honorary Consul General of Japan

The Consulate General of Japan in New Orleans has appointed former Kentucky Governor Martha Layne Collins as the Honorary Consul General of Japan in Kentucky. In her position, Collins will work to promote and protect the rights and interests of Japanese nationals in Kentucky, encourage Japanese investment in Kentucky and cultivate cross-cultural understanding and appreciate between Japanese and Kentuckians. There are currently some 2,300 Japanese nationals and 2,500 people of Japanese heritage in Kentucky. Collins has been lauded for her vision in wooing Toyota to the state during her tenure as governor. There are now 109 Japanese manufacturing operations across the state, which employ close to 34,000 people and represent investments of more than $7.2 billion.

LEXINGTON
Greely to Retire as President of Keeneland

Bill Greely, president of the Keeneland Association, has announced that he will retire in February after serving 14 years in his position. "With Keeneland's sales enjoying unprecedented success and racing purses at record levels, I felt it was an ideal time in my career to retire," Greely said in announcing his decision. Greely, 61, became Keeneland's fifth president in 1986, succeeding James E. (Ted) Bassett III, who was appointed chairman of the board. Greely joined Keeneland in 1972 as assistant general manager and was named general manager in 1973. Under Greely's leadership, Keeneland has expanded Thoroughbred auction sales, inaugurated turf racing, constructed corporate suites, refurbished the grandstand, broadened the track's stakes program and increased the average daily purse distribution to the highest in North America.

LOUISVILLE
Vencor to Operate as Normal During Reorganization

After facing both financial and legal struggles in recent months, long-term healthcare provider Vencor, Inc. is attempting to reorganize itself after filing for protection under Chapter 11. Vencor CEO Edward Kuntz attributed the move to "dramatic changes impacting the long-term care industry, most notably decreased Medicare reimbursement." Medicare dealings have proven to be a sticking point for the Louisville-based company, which has been accused of falsifying Medicare billings by covering up discounts for services. Prior to the Chapter 11 filing, Vencor and its landlord, Ventas, Inc., were named as defendants in three lawsuits seeking restitution for duplicate Medicare reimbursements. All three suits were originally filed by whistle blowers and have been joined by the U.S. Department of Justice. Vencor is now in the progress of negotiating a settlement with the Department of Justice. Company officials emphasized that the reorganization of the company has been structured to allow for normal operations of Vencor's nursing centers, hospitals and ancillary services businesses. Vencor operates approximately 60 long-term, acute-care hospitals and some 300 skilled nursing facilities.

LEXINGTON
Louisville/Jefferson County Officials Submit Government Merger Proposal

Jefferson County Judge-Executive Rebecca Jackson, J, and Louisville Mayor David Armstrong have submitted a joint plan for the eventual merger of county and city governments to a task force that will make a final recommendation to the state General Assembly. The plan would create a new countywide council of 15, 19 or 24 members and a single urban/county executive. In addition, local taxes and services would remain unchanged - Jefferson County has 93 separate cities, including Louisville - unless local citizens determined otherwise. Other separate county or city government functions would be reorganized and merged into single offices under the plan. Assuming the General Assembly does allow Jefferson County citizens to decide their own governmental structure, the merger plan calls for a referendum in May 2001, general election to the newly-created offices in November 2002 and installation of the new urban county government in January 2003.

CAMPBELLSVILLE
Campbellsville Lands New Travel Management Facility; 180 New Jobs

Rosenbluth International, a travel management company with the second largest worldwide presence and sales exceeding $4 billion dollars, has acquired the Professional Travel Services/National Reservation Center in Campbellsville with plans to transform the operation into its sixth IntelliCenter(r). The operation, which will involve managing flight travel for corporate clients, will ultimately employ around 180 people with salaries averaging $9 per hour.

Professional Travel Services originally opened in Campbellsville in 1983, primarily servicing the local market. The National Reservation Center and the American Travel Academy were incorporated in 1998, in an effort to train and employ those impacted by the closing of the Fruit of the Loom factory, which resulted in nearly 3,000 lost jobs in 1997-98. The majority of Professional Travel Services/National Reservation Center's 35 independently contracted agents will be trained to service Rosenbluth International's corporate clients.

"Rural America offers a wealth of human resources, not just in sheer numbers but in extraordinary quality and work ethic," said Rosenbluth International CEO Hal Rosenbluth, whose Philadelphia-based company opened a temporary office in North Dakota during the Midwest drought of 1988 to provide temporary income for drought-stricken farm families. The company has since decided to make it a permanent location and has expanded its North Dakota presence to include four other offices, as well. The 107-year-old company, which employs nearly 5,000 people, was ranked last year among FORTUNE magazine's 100 Best Companies to Work for in America.

FORT MITCHELL
Indiana Company to Buy Oldenberg Brewery

Silver Creek Brewing Company of Sellersberg, Indiana has offered $450,000 for the operations of Oldenberg Brewing Co., which has experienced financial difficulties over the past few years and filed for Chapter 11 this past June. At that time, in an effort to streamline operations, Oldenberg eliminated its brewery tours, closed its gift shop and suspended its annual Beer Camp, where for around $370 "campers" spent the weekend at the Oldenberg facility participating in discussions, demonstrations and beer tastings. Silver Creek, which plans to keep the Oldenberg name and its employees, hopes to return the operation to profitability.

"The brewery is a good business," Silver Creek President Jeff Compton told the Kentucky Post. "As long as there are beer drinkers out there, there will be a demand for beer." In a June 1999 letter to shareholders, Oldenberg President David Heidrich noted that "while the Oldenberg restaurant division has performed well, the brewing division has, like many other specialty brewers, been hurt by a prolonged and continuing slump." In addition, said Heidrich, the company raised expansion capital for the restaurants, which operate in Louisville and metropolitan Orlando, through issuance securities bearing a 10 percent interest rate, which resulted in making it difficult for the company to meet its credit obligations. At the time of the bankruptcy filing, Oldenberg had assets of $5.2 million and liabilities of $3.3 million.

LOUISVILLE
Ruby Resigns as Head of ARM Financial Group

Martin Ruby, one of the founders of ARM Financial Group in Louisville, has resigned as chairman and chief executive officer of the troubled financial services company. ARM, publicly traded since 1997, has been seeking a buyer since its fortunes plummeted after a second quarter loss of $170 million. The New York Stock Exchange has suspended trading and may delist the company. Originally Analytical Risk Management, ARM was founded in 1992 by Ruby and John Franco. The company offered institutional investment products until it began to acquire insurance companies in 1993. Its National Integrity Life Insurance subsidiary has been placed under supervision by the New York and Ohio Departments of Insurance to curtail surrenders, which escalated after a failed move into an aggressive retail marketing by the company. ARM, which has 300 employees at its Louisville headquarters, faces three stockholder suits and has notified the Securities and Exchange Commission that it may be forced to file for bankruptcy protection.

HIGHLAND HEIGHTS
BICC General Acquisition, Joint Venture Increase World Presence

General Cable Corporation, now known as BICC General following its acquisition of British-based BICC plc, has completed the acquisition of BICC plc's ownership interest in a wire and cable manufacturing joint venture in Berlin, Germany. The $21.9 million transaction is part of the final phase of BICC General's acquisition of the worldwide energy cables business of BICC plc. The deal involves BICC plc's 50 percent interest in two limited partnerships that sell power cable and telecommunications cables to utilities in Germany, Austria, Switzerland and Poland. BICC General's partner in the joint venture is NKF, a leading Dutch wire and cable manufacturing company that is now part of Draka.

BICC General has also formed a new joint venture in Baoying, Jiangsu province in Mainland China with the Jiangsu Baosheng Group Co. Ltd., a manufacturer of low- and medium-voltage power and construction cable products and communications cable products. The joint venture will manufacture and market medium- and high-voltage power cables to utilities and other customers both within China and outside the country in international markets. BICC General will invest approximately $13 million in return for approximately two-thirds ownership of the joint venture. The Baosheng Group will contribute existing wire and cable manufacturing assets in China to the enterprise in return for its interest.

LEXINGTON
KET Workplace Essentials Series to be Offered Nationwide

As part of an ambitious national education project called LiteracyLink(r), KET's Workplace Essential Skills was recently unveiled at the National Press Club in Washington, D.C. Using a multimedia approach, combining online activity with video, the series is designed to help adults use basic skills to find jobs and apply their skills successfully in workplace settings. LiteracyLink was produced by KET in partnership with the PBS Adult Learning Service, the National Center on Adult Literacy of the University of Pennsylvania and the Kentucky Department of Education. "We feel that [it] is going to meet a critical need for preparing adults to enter the workforce successfully and become productive team players," said Virginia Fox, executive director and CEO of KET. "We're proud that our leadership with such previous series as GED on TV made KET the hands-down choice to be the television partner in this national project."

WESTERN KENTUCKY
Area Bancshares to Acquire Four Western Kentucky Banks

Owensboro-based Area Bancshare's has forged an agreement to buy Peoples Bank of Murray, Dees Bank of Hazel, Bank of Livingston County and Bank of Lyon County for approximately $78 million in cash. The agreements have each been approved by the respective boards of directors, but are subject to approval by shareholders and regulatory agencies. Barring any opposition, the transactions will close sometime in January. The acquisition of the four institutions would add $382 million in assets to Area's existing $3.2 billion. "With consolidation taking place throughout the banking industry, many community banks are attempting to align themselves with institutions like Area that can provide customers with the broadest array of products and services," explained Harold G. Doran, Jr., president and director of each banking company involved in the acquisition. Area currently operates 13 banks with 58 banking facilities in 24 Kentucky cities.

LOUISVILLE
Churchill Downs Announces Organizational Realignment

Alex Waldrop has been named as the general manager of Churchill Downs in an organizational realignment of Churchill Downs Inc. Waldrop replaces Thomas Meeker, who will continue as president and CEO of Churchill Downs Inc. The realignment includes the consolidation of several functions at the corporate level as well as the reporting procedure for management of the Louisville race track.The changes come as Churchill Downs, Inc. has grown beyond the race track to include ownership of four other tracks, two training centers, a telecommunications company, off-track betting facilities and a simulcast production company, among other holdings. With the realignment, Churchill Downs, Inc. will now have its own sales and marketing, finance, communications and human relations departments, separate from the race track management.

LEXINGTON
"Women Mean Business" Conference Delivers Information, Opportunity

Nearly 300 people were on hand at the Marriott Griffin Gate Resort last month for the seventh annual Women Mean Business Business Conference, where Kentucky businesswomen gathered to network, share information and participate in various business-related workshops. Sponsored by the Kentucky Small Business Development Center at the University of Kentucky, the conference featured speakers Mary Harney, deputy prime minister of Ireland, and Rieva Lesonsky, vice president and editorial director of Entrepreneur magazine. The two-day event also included the presentation of three entrepreneurial awards. Sharon Darling, president of the National Center for Literacy in Louisville, received the Martha Layne Collins Leadership Award. The 1999 Advocate for Women honor went to Robin A. Hunt, president of H&W Plastics Inc. in Bowling Green. Debbie Scoppechio, chairman and chief executive officer of Creative Alliance in Louisville, was named Entrepreneur of the Year.

PADUCAH
Energy Secretary Addresses Plant's Plutonium Exposure Concerns

In response to concerns regarding the possibility of plutonium exposure at the Paducah Gaseous Diffusion Plant, U.S. Energy Secretary Bill Richardson recently met with current and former employees of the facility to address those concerns and outline a plan of action. The Department of Energy began investigating the plant when allegations arose that former plant operators had falsified documents regarding the disposal of contaminated waste. After an inspection of the site, agency investigators have concluded that there are now no serious problems that would present a health risk to employees, though there have been compelling statements that such a threat may have indeed existed in the past.

Richardson announced plans to introduce federal legislation that would establish a program for former and current plant employees who have developed cancer through job exposure to radioactive elements. Richardson also announced a $21.8 million supplemental budget amendment that would be used to fund more medical monitoring, assessments of radiation exposure and clean-up efforts at the Paducah plant. The issue of contamination has already resulted in a lawsuit being filed against the former private corporate operators of the plant, claiming that radiation levels there exceeded federal standards. Filed on behalf of 14 plant employees and seeking to represent all current and former workers, the suit is seeking $10 billion in damages. The private operators named in the lawsuit include Union Carbide Corp. and Lockheed Martin Corp. The suit also names General Electric Corp., which is accused of improperly shipping contaminated products to the facility.

Business Briefs

BOWLING GREEN

• The National Corvette Museum hosted more than 60,000 Corvette enthusiasts during the course of its fifth anniversary celebration held over the Labor Day weekend. The four-day event, which broke previous attendance and revenue records, brought an estimated $1 million in revenue for the museum and generated nearly $7 million for the community as a whole.

CENTRAL KENTUCKY

• Danville-based Matsushita Home Appliance Corporation of America and Matsushita Electric Motor Corporation of America in Berea have been merged into Matsushita Electric Corporation of America (MECA). Both factories will continue to operate at their present sites as MECA division companies. The Danville plant employs 1,700 workers producing floor care products and microwave ovens that are sold under the Panasonic and other brand names. The Berea-based facility has 200 employees and manufactures electric motors for vacuum cleaners, automotive anti-lock braking systems and power windows.

COVINGTON

• Plagued by financial losses and declining sales, Gibson Greetings Inc. has adopted a stockholder rights plan that forces anyone acquiring more than 15 percent of the company's common stock to negotiate with the board of directors and the largest shareholders. The company has issued one "preferred stock purchase right" for each share of common stock.
• Ashland Inc. has acquired Buster Paving Co. Inc., a Texas company with a staff of 300. Buster, which operates primarily in northeast Texas and southeast Oklahoma, will become part of Ashland's APAC division, a group of construction companies headquartered in Atlanta with operations in 14 Southern and Midwestern states.
• Regent Communications has entered into a formal agreement to acquire three El Paso, Texas stations from New Wave Broadcasting, L.P. for $23.5 million in cash. Regent, which currently owns 38 radio stations in 11 markets, recently completed its acquisition of three Erie, Pennsylvania stations from Media One Group, Ltd. for $13.5 million. The company also has an agreement to acquire nine stations in the Utica/Rome and Watertown, New York areas. Regent is quoted on the OTC Bulletin Board under "RGCIP."

EASTERN KENTUCKY

• A permit has been issued to Cave Run Development Corp. by the U.S. Forest Service to pursue a feasibility study involving the development of a resort complex at Cave Run Lake. Cave Run Development is a non-profit group consisting of local leaders from Bath, Rowan, Menifee, Montgomery and Morgan counties and was the only organization to file a proposal following the Forest Service's solicitation of interest a year ago. At that time, the Forest Service asked for proposals that would include a 150-room lodge, a 100-boat marina, meeting space and a 350-seat restaurant.

FLORENCE

• After serving as sponsor of Turfway Park's spring race for just one year, Houston-based Gallery Furniture is giving up the position to focus instead on selling its product in Texas. The track does not expect to experience difficulty in landing a new sponsor for the event as the $750,000 Triple Crown prep race regularly receives national media attention and last year attracted a record crowd of more than 21,000 people.

FRANKFORT

• The newly-launched Kentucky Commonwealth Virtual University has contracted with a new Kentucky-based company to provide online bookstore services to its students and faculty. Lexington-based ecampus.com Inc. will offer course materials, supplies and other items at a discount to KCVU students in addition to providing free shipping.
• The Kentucky Department of Agriculture has awarded nearly $300,000 in grants to the state's aquaculture industry. A grant of $50,000 will help the Kentucky Aquaculture Association develop a trout hatchery in Green County, with the remainder of the funds going to Kentucky State University, which will use the money for its freshwater shrimp hatchery and nursery facilities and harvesting equipment.

GALLATIN COUNTY

• Richard Farmer, chairman of Cincinnati-based Cintas Corporation, has joined the investor/ownership team of the Kentucky Speedway, a 1.5-mile motorsport track slated to open in Gallatin County next June. A recognized leader in the business world, Farmer was presented Financial World magazine's Bronze Medal Award for CEO of the Year in 1994 and 1995, and was awarded Ernst & Young's Entrepreneur of the Year honor in 1995.

GLASGOW

• STATCARE, which operates two medical service helicopters out of Louisville's Bowman Field, plans to move one of those to T.J. Samson Community Hospital in Glasgow this fall to better assist critically ill or injured patients in the south-central region of the state. STATCARE made the decision to relocate the helicopter after its records indicated that one-fifth of its transports were from a 12-county area in south-central Kentucky.

HEBRON

• Pomeroy Computer Resources has acquired Acme Data Systems, a privately-held computer network integrator and services provider headquartered in Columbus, Ohio. Financial details were not disclosed. n Toyota Motor Sales USA Inc. has begun hiring for positions in its North America parts distribution center in Hebron, which is expected to be complete by next August. The company plans to hire around 300 people from the first pool of applicants.

LEXINGTON

• St. Joseph Hospital plans to close the cardiology and cardiothoracic surgery units at its St. Joseph East facility, which it bought from Jewish Hospital last year. Though the closure will result in 12 job cuts, hospital officials say staff members who are affected will be able to apply for open positions at the hospital's main Lexington facility, which will continue to offer cardiology and cardiothoracic surgery.
• The High Hope Steeplechase has presented checks totaling $57,500 to the Central Kentucky Riding for the Handicapped organization and the Kentucky Horse Park Foundation. The donation is the largest contribution in the history of the Steeplechase organization, a non-profit organization that pledges its entire profit to charity.
• Approximately 300 IBM retirees will receive benefits totaling more than $15 million as the result of a settlement approved by the United States District Court in Lexington. The plaintiffs are all retired employees of IBM's Lexington facility, which was sold to Lexmark in 1990. Prior to the sale, IBM had encouraged the employees to voluntarily take early retirement packages. The court ruled that IBM encouraged the employees to take an early retirement package while it was seriously considering a major change to its retirement plans that would have benefitted the employee group in question.
• Scott R. Smith Environmental Management Consultants Inc., a Lexington-based firm that specializes in environmental consulting, safety and industrial hygiene, and information technology, has acquired the Nashville firm of Mosely & Associates Inc. The acquisition was pursued to expand Smith's presence in the Southeast and strengthen its capabilities in the areas of industrial safety, hygiene and environmental noise. Smith also has offices in Louisville.
• Dapple Bloodstock has created a new company devoted to the listing and selling of Thoroughbred stallion seasons and shares on the World Wide Web. The Season Exchange, LLC, which is the first company of its kind, will enable mare owners to pull up the website and peruse the list of seasons alphabetically, by region or by price. Each season is linked to the TBH Online Stallion Register for additional information. The listings are free to the season owner; the sale of the season will include a commission to The Season Exchange, LLC.

LOUISVILLE

• Brown & Williamson Tobacco Corp. has filed a complaint with the International Trade Commission, hoping to stop U.S. sales of cigarettes that are produced for overseas markets. The company has charged that Florida and California businesses are buying the exported products at cheap prices, then selling them here for greatly reduced prices. Cigarettes produced for foreign countries do not carry the costs associated with the tobacco industry's settlement to pay for treatment of smoking-related diseases.
• Midway Airlines has announced that it will initiate jet service between Louisville and its hub at Raleigh-Durham International Airport beginning October 15. The airline plans to offer three daily nonstop flights each way.
• Tumbleweed Inc., the Louisville-based restaurant chain that specializes in Southwestern fare, has signed a development agreement with Tumble South, Inc., a Virginia franchisee, to build at least 13 new Tumbleweed restaurants in Virginia over a six-year period. Tumbleweed, which recently became a publicly-held company (NASDAQ: TWED) currently has 49 restaurants in the U.S., Germany, Jordan and Saudi Arabia.
• The University of Louisville and Bellarmine College are merging their separate small business development centers, in cooperation with Greater Louisville, Inc. The UofL center will be merged into the Greater Louisville Small Business Development Center at the headquarters of Greater Louisville, Inc. in downtown Louisville. The site is the former location for Bellarmine's center. Michael Ashcraft, director of Bellarmine's center, will head the newly-merged operation.
• The Riverbats, Louisville's AAA minor-league baseball club, has signed a new long-term franchise agreement with the Cincinnati Reds. The new arrangement ends the Riverbats' two-year affiliation with the Milwaukee Brewers, an arrangement forced upon the team when their long association with the St. Louis Cardinals ended following the 1997 season. The Cardinals also forced the Louisville team to change its name from the Redbirds. Along with a new major league sponsor, the Riverbats will also have a new home when they move into the 12,000-seat Slugger Field next April.

MIDWAY

• Midway College has received a five-year grant from the U.S. Small Business Administration to fund a Women's Enterprise Institute at the all-women's college. The institute will be directed by Jacquelyn Markham, who founded the Spiral Dynamics Women's Resource & Cultural Exchange in Athens, Georgia.

NICHOLASVILLE

• R.J. Corman Railroad Company has opened divisions of its derailment service operations in Atlanta and Houston, expanding the company's presence as derailment specialists to nine states. Each division consists of a team who bring specially-equipped bulldozers to a derailment scene on flatbed trucks, providing both emergency and non-emergency response. In addition to its two newest operations, the Nicholasville-based company has derailment services divisions in Illinois, Kentucky, Louisiana, Ohio, Pennsylvania, Tennessee, West Virginia and plans to soon open another derailment division in Minneapolis/St. Paul, Minnesota.

NORTHERN KENTUCKY

• Comair, Inc. will initiate nonstop jet service between its hub at the Cincinnati/Northern Kentucky International Airport and Mobile, Alabama. The three daily jet flights will begin November 1. n Both airport and airline officials are hopeful that a new $85 million north/south runway planned for the Cincinnati/ Northern Kentucky International Airport will alleviate the number of delayed flights passengers have been experiencing there. A recent report from the Federal Aviation Administration indicated that flight delays (those that take off 15 minutes or more after leaving the gate) have more than doubled in 1999 as compared to last year. However, the airport's passenger count is also up 6.5 percent over last year (growing to 21.2 million), as well as the number of flights. There were 568 daily departures in June of this year, compared to 539 for the same month in 1998. Still, the FAA points out that 75 percent of delays are the result of adverse weather conditions.

OWENSBORO

• Citing consistently low passenger levels, Northwest Airlines has eliminated its daily connector flights between Owensboro and Detroit. Local officials are hoping that the cut will not prevent the airport from reaching the 10,000-passengers-per-year figure needed to qualify for $500,000 in federal aviation entitlement funds that can be used for airport improvements. The airport last qualified for federal funding in 1996.
• Bowling Green-based Summit Hotel Management Co. has been designated to operate Owensboro's Executive Inn Rivermont hotel until a buyer is found for the property, which has been ordered to be sold as part of claims settlements against owner Greater Ministries International of Tampa, Florida. Six Greater Ministries officers are on trial charged with federal mail fraud and money laundering.
• After declining a request for a rate decrease this past summer, the Kentucky Public Service Commission has approved Kenergy Corp''s request to cut electric rates by four percent. The reduction was promised to the 48,000 customers of Henderson Union Electric and Green River Electric if they voted in favor of merging the two energy cooperatives. The initial request for a rate cut by Kenergy, as the merged entity is now known, was denied after area industries which were not part of the rate reduction protested that a residential-only reduction was unfair. After filing for a change in rates under a different provision of the law, however, Kenergy is being allowed to reduce the rates for residential customers.
• Though it had hoped to keep its provider network operative despite the failure of its health maintenance organization (HMO), Owensboro-based MedQuest has announced that it will also dissolve the provider network that covers approximately 18,000 people. The Kentucky Department of Insurance has taken over the MedQuest's HMO operations until the company officially goes out of business effective October 31.

PADUCAH

• Lourdes Hospital has implemented a new registration device, whereby a patient's thumbprint is scanned and stored with registration records. The thumbprint will serve to provide important patient information even if a person is brought in unconscious. So far, 10,000 patients have registered for the Lourdes ID Link.

VERSAILLES

• Kuhlman Electric, which produces transformers for the utility industry, has been sold by owner Borg-Warner Automotive to The Carlyle Group, a Washington, D.C. investment group. The Carlyle Group acquired Kuhlman for $120 million less debt of approximately $1 million. Borg-Warner Automotive acquired Kuhlman Electric, which employs approximately 200 people at its Versailles plant, as part of its purchase of Kuhlman Corporation in March 1999. BWA announced at that time that it was one of two businesses that were not strategic and would be sold.

WOODFORD COUNTY

• Citing financial losses, Central Baptist Hospital of Lexington has severed its ties with Woodford Hospital, where it has managed and staffed the hospital maternity ward since September 1997. Though Woodford's maternity ward had been closed for a number of years prior to Central Baptist's involvement, Woodford officials say they will to continue to offer obstetrical care.

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