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Louisville Business First
The coveted perk that could be critical for workforce development
As the focus shifts from recruitment to retention in a still-tight hiring market, many employers are searching for the incentives that will retain workers. <\p> While perks like four-day workweeks, unlimited vacation and remote work are often in the spotlight, another coveted perk is career development and upskilling opportunities. <\p>
EXCLUSIVE: Louisville hotel and conference center to be sold
A hotel near Louisville Muhammad Ali International Airport will be sold next month to the highest bidder.<\p> The former Fern Valley Hotel and Conference Center at 2709 Fern Valley Road will go to online auction June 24, Gilezan Global CEO Stephanie Gilezan, who is the listing agent, told Business First. The starting bid is $2.25 million, according to the auction website.<\p>
Tiger Woods at Valhalla: 'The fans just want to see us play together'
Massive outdoor sporting events can have control over nearly all conditions — except the weather, as evidenced Tuesday at Valhalla Golf Club in Louisville. <\p> After hot, muggy weather enveloped Valhalla during practice for the 106th PGA Championship on Monday, rain and storm clouds drove the narrative Tuesday.<\p>
Louisville foundation awards nearly $3M in grants
The Legacy Foundation of Kentuckiana recently awarded 25 grants totaling over $2.9 million to area nonprofit organizations. <\p> All of the grants support the Legacy Foundation of Kentuckiana's goal of cultivating healthy communities for all, especially those who are vulnerable, through impact-driven philanthropy, according to a news release. <\p>
St. Matthews getting new-to-market bagel shop
A Toledo, Ohio-based bagel restaurant chain is opening its first Greater Louisville location in St. Matthews this fall.<\p> Barry’s Bagels will open a new store in the fall at 4123 Oechsli Ave. in the Galleria of St. Matthews, which is located at the corner of Oechsli Avenue and Thierman Lane, just north of Shelbyville Road.<\p>
Growing share of real estate agents weigh leaving their brokerages
The Covid-19 pandemic and a recent wave of class-action lawsuits have pushed more real estate agents to consider leaving their brokerages.<\p> Those findings, from the latest annual Agent Priorities Report from Coldwell Banker Real Estate, found while 61% of agents surveyed plan on sticking with their company this year, that’s down from 75% in 2023.<\p>
Fast-growing Louisville firm expands with move (PHOTOS)
A fast-growing engineering firm has relocated alongside the Ohio River.<\p> The Kleingers Group moved into a new 11,000-square-foot office at 2211 River Road in April. The West Chester, Ohio-based civil engineering firm was previously located at 1100 Envoy Circle off Hurstbourne Parkway in a 2,000-square-foot office. <\p>
This celebrity estate is back on the market for $23M (PHOTOS)
Two years after it was originally listed for $30 million, the estate of a famous race car driver is back on the market — at a reduced price.<\p> Three-time NASCAR champion and current racing team owner Tony Stewart has again listed his 415-acre Hidden Hollow Ranch for sale in his hometown of Columbus, Indiana, in Bartholomew County. <\p>
Appalachia-based organization closes $36 million fund
One of the largest funds designed to help generate businesses in the Appalachian region of the U.S. recently reached a milestone. <\p> That’s because Invest Appalachia — an Asheville, North Carolina-based organization with significant Eastern Kentucky ties — announced the close of its Invest Appalachia Fund (IA Fund) at $35.5 million, per a news release.<\p>
Airline credit-card reward programs in regulators' crosshairs
The nation's major airlines are drawing heat over their branded credit-card reward programs, with federal regulators targeting consumer complaints that claim many perks don't live up to the hype and sometimes cost more than they are worth. Those findings...
Downtown tower under contract to be sold
One of Downtown Louisville’s most recognizable buildings could soon have new owners.<\p> The Heyburn Building, at 332 W. Broadway, is under contract to be sold, according to a LinkedIn post by Gant Hill & Associates President and Principal Broker Gant Hill, who says he was the listing agent and buyer representative on the deal.<\p>
Here's when Humana's next CEO will take over
We now know when a new leader will take over the helm at Humana Inc. (NYSE: HUM), easily Louisville's largest company by revenue.<\p> Jim Rechtin will succeed Bruce Broussard as president and CEO of the Louisville-based health insurance giant effective July 1, according to a news release.<\p>
Highlands staple abruptly closes
A beloved Highlands staple is closing its door permanently after nearly 40 years in business.<\p> The Back Door, located on the backside of Mid City Mall between Bardstown Road and Baxter Avenue, announced its immediate closure Monday through a social media post and a sign posted on the door. <\p>
Recently closed retailer finds a new home
A popular independent record store has found a new home in Shelby Park after being forced to close its former location in April.<\p> Craig Rich, owner of Underground Sounds, said he plans to reopen his record store at 1153 Logan St. near Atrium Brewing in a few months.<\p>
Why Amazon's recent moves bode well for a cooling CRE market
Welcome to The National Observer, a roundup of top business news and actionable insights from across The Business Journals. We'll take a look today at a bankruptcy health care system's hospital sale; a $3.3B investment from Microsoft that will help establish an artificial intelligence hub; and what you need to know about upcoming changes to overtime rules. But we'll start with the dynamics in this once-hot commercial real estate subsector.<\p> Get more stories like these every day in your inbox by subscribing to The National Observer newsletter.<\p>
Longtime breakfast spot closing this week
Toast on Market in downtown New Albany, Indiana, will serve its last meal Sunday, May 19.<\p> That's according to a Facebook post from the longtime restaurant, which began in Louisville in 2006 before expanding across the Ohio River about a decade ago.<\p>
ANNOUNCING: 20 People to Know in Banking
Although the means by which a person interacts with a bank or credit union have broadened drastically over the past 20 years, it's still the personal attention to clients that bankers and financial professionals often cite as key.<\p> It's a similar theme of our regular 20 People to Know feature — connecting the Louisville-area business community with influential people in key roles that are crucial to their businesses. People in this feature run the gamut from behind-the-scenes all stars to key leaders to up-and-comers in the featured industry.<\p>
Higher-for-longer rate environment means more uncertainty for CRE
Commercial real estate investors, owners and occupiers all have been monitoring whether the Federal Reserve will impose interest-rate cuts in 2024 after rapidly rising rates have substantially increased the cost of doing business.<\p> Earlier this month, the Fed signaled it needed to see more progress toward its inflation target of 2% and decided to maintain its key lending rate. At that meeting, Fed Chairman Jerome Powell said gaining greater confidence around inflation "will take longer than previously expected," although he also said he felt inflation would move back down in 2024.<\p>
High-profile St. Matthews property for sale
A landmark St. Matthews property is for sale.<\p> The building that formerly housed Dutch’s Tavern and Mellow Mushroom at 3922 Shelbyville Road is on the market for $2.6 million, according to a news release. <\p>
2 colleges partner on grad-school push
Panthers can become Grenadiers in an accelerated fashion after local higher education leaders joined in a public-private partnership creating an expedited graduate school admissions process. <\p> Indiana University Southeast Chancellor Debbie Ford and Hanover College President Lake Lambert signed a memorandum of understanding last week that creates an expedited admissions pathway for Hanover graduates into select IU Southeast graduate programs. <\p>
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