The University of Louisville has announced that its College of Business will relocate its graduate programs to downtown Louisville by 2010 to be closer to the business community. The college’s two-year MBA program, the entrepreneurial MBA and master of accountancy programs will move to Museum Plaza, a 61-story $490 million commercial, cultural and residential development being built on Louisville’s riverfront. “There’s no place more exciting than downtown Louisville to create a great new learning environment for working professionals,” said College of Business Dean Charlie Moyer. “With our focus on entrepreneurship, this will allow our students and faculty to interact with business leaders on every level.”
Blue Equity, a private equity firm headquartered in Louisville, has expanded its portfolio with the acquisition of Management Group International, a California entertainment company that represents clients such as Janet Jackson and Nick Carter. Blue Equity’s portfolio includes media, publishing, real estate, financial services and sports management interests. Among the company’s clients are tennis pro Andy Roddick, NFL running back Reggie Bush and University of Louisville football coach Steve Kragthorpe. MGI owner Kenneth Crear will serve as president of Blue Equity’s new entertainment office, which will be located in Beverly Hills, Calif. Financial details of the deal were not released.
The Louisville campus of National College is now enrolling students for three new bachelor’s degree programs. The new programs include a bachelor of business administration in health care management and bachelor of science degrees in accounting/information Systems and health care management/information systems.
ResCare Inc., a Louisville company that provides services to those with disabilities, has acquired Kids in Focus for an undisclosed price. The Richmond, Va.-based company provides residential diagnostic and therapeutic services to children in crisis through clinical, psychological, psychiatric, physical and academic evaluations that offer customized therapy and training. The program provides evaluation and therapy during a 60- to 90-day stay at one of Kids in Focus’s five homes in the Richmond area. Kids in Focus’s annual revenue is estimated to be approximately $6 million.
The market research firms of Marketing Research of Kentuckiana and Wilkerson & Associates, both of which are based in Louisville, have merged their operations. The newly combined company will operate as Wilkerson & Associates and will include all of Marketing Research’s full-time employees. Financial terms of the transaction have not been disclosed.
Kentucky Trailer, a Louisville company that manufacturers moving vans for the moving and storage industry, has acquired Volunteer Trailer, a Nashville, Tenn., trailer service company and dealer of Kentucky Trailer products. Volunteer Trailer will continue to operate under its same name with the current staff.
The University of Louisville’s athletic department is contributing $250,000 to the university’s general fund to help offset some of the cuts in the state’s appropriation to the university. The contribution comes in response to a 3 percent cut in this year’s state appropriation and a proposed 12 percent additional cut next year. The cuts would amount to a $25 million reduction in UofL’s funding. “This shows that our athletics department understands the momentum this university has and the effects that these cuts could have on the entire university,” said Elaine Wise, a faculty representative on the board of the UofL Athletic Association. “This is significant not only financially, but also symbolically. I think (Athletic Director Tom Jurich) and the athletic department deserve a lot of credit for stepping up.”
The Kentucky Spinal Cord Injury Research Center at the University of Louisville has received three federal grants totaling $4.7 million to find therapies for spinal cord injuries. KSCIRC also will receive a $300,000 grant from the Kentucky Spinal Cord and Head Injury Research Trust. The center, part of UofL’s Department of Neurological Surgery, will use the three National Institutes of Health grants to examine cell-based and drug-based therapies for spinal cord damage. “Thanks in large part to Bucks for Brains, our Department of Neurological Surgery is seventh in the nation in terms of NIH funding,” said UofL President James Ramsey. “Over the last six years, $8.6 million from private donors was matched by $6 million from Bucks for Brains. The return on this investment now tops $47.1 million.” Bucks for Brains is an endowment match program that matches public dollars and private donations. The goal of the program is to encourage research and strengthen key programs at Kentucky universities.
Louisville-based IMC Licensing has negotiated a new licensing agreement with Hillerich & Bradsby Co.’s Louisville Slugger brand to develop a line of casual apparel for children. The line was introduced last month at the 2008 MAGIC Marketplace in Las Vegas and is now being distributed in sporting goods and department stores.