Brown-Forman Corp. has announced a stock split, to be effected as a dividend, on both Class A and Class B common stock, payable in shares of Class B common stock. For every four shares of either Class A or Class B common stock held, shareholders of record as of the close of business on Oct. 6 will receive one share of Class B common stock, with any fractional shares payable in cash. Louisville-based Brown-Forman is a producer and marketer of alcohol brands that include Jack Daniel’s, Southern Comfort, Finlandia Vodka and Korbel California Champagnes, among others.
Raytheon Technical Services Company LLC (RTSC) has announced plans to open a Warfighter Support Center depot repair facility in Louisville to support the U.S. Army’s Warfighter Field Operations Customer Support (FOCUS) program. The 135,000-s.f. center will employ 75 people providing logistics, technical support and depot maintenance services. “The Warfighter Support Center will improve service to soldiers by increasing turnaround times for repairable items,” said Mike Edwards, an RTSC vice president and program manager of the Warrior Training Alliance, which facilitates execution of the Warfighter FOCUS contract. “The center’s overall goal is to get equipment back to warfighters faster so they can complete their valuable training operations.”
University of Louisville business students now have the opportunity study in China as the result of a new agreement between UofL and China’s Nankai University Business School and the Shanghai Institute of Foreign Trade. Bob Taylor, director of international programs for UofL’s business school, said the university expects to initiate undergraduate exchanges, undergraduate study tours, graduate student experiences and joint faculty research opportunities within the next year. In addition to China, the College of Business has exchange agreements with schools in the Netherlands, Germany, France, Moscow, Czech Republic, Taiwan and Hungary, and pending relationships with schools in New Zealand and Poland.
Sullivan University has officially opened its new College of Pharmacy in Louisville. The college’s inaugural class includes 74 Doctor of Pharmacy students, of which 39 are from Kentucky, eight from Indiana and 27 from 11 other states.
Almost Family Inc., a Louisville-based provider of home health nursing services, has been ranked No. 24 in Forbes’ 2008 listing of the 200 Best Small Companies in America, rising from its No. 77 ranking in 2007. To qualify for the 200 Best Small Companies list, companies had to have shown a consistent pattern of positive growth over the past 12 months and also over a five-year period. Forbes selected companies with revenues between $5 million and $750 million, net profit margins greater than 5 percent and share prices above $5 as of Sept. 29, 2008. Almost Family was founded in 1976 and now operates more than 90 branch locations in 11 states.
The North American International Livestock Exposition will return to the Kentucky Exposition Center in Louisville this month for its 35th consecutive year. The event will include exhibitors and entrants from 48 states and six continents and is expected to generate an economic impact of $11.6 million for the state.
BAE Systems Land & Armaments has been awarded a $31.5 million contract by the U.S. Department of Defense to overhaul and upgrade four MK 45 gun mounts and produce three MK 45 upgrade kits. Approximately 75 percent of the work will be handled by BAE’s Louisville operations, with the remainder being performed by the company’s Minneapolis facility.
Financial services firm Hilliard Lyons has eliminated some 45 positions at its Louisville headquarters, citing the need to adjust costs to ensure the company remains competitive. A number of the affected employees have been reassigned to other areas – the company operates more than 70 offices in 12 states – but most have been laid off. Hilliard Lyons employs approximately 1,000 people total, with some 500 located in Louisville.
Trilogy Health Services has entered into an agreement to acquire six senior living communities from Franciscan Sisters of Chicago Service Corp. The acquisition involves four facilities in Indiana, one in Illinois, and the Franciscan Health Care Center in Louisville. Louisville-based Trilogy offers a range of personalized senior living services, ranging from independent and assisted living to skilled nursing and rehabilitative services.