By Lorie Hailey
Lexington-based youth sports and activities broadcaster iHigh will announce Wednesday a nearly $12 million investment by Cox Media Group, which owns newspapers, television and radio stations nationally, reports the Lexington Herald Leader.
Launched in 1999, iHigh encourages schools and organizations to upload or stream videos online of sporting events, meetings, performing arts and so forth. The company has launched its Production Truck software that simplifies the entire process for users and allows them to toggle among four cameras they set up and insert graphics. Its business model rewards organizations by letting them sell advertising on the site and through videos, the paper says.
The popularity of water trails is growing in eastern Kentucky as more and more communities embrace adventure tourism as a way to paddle their economies forward, reports The (Ashland) Daily Independent.
In Elliott County, two new access points into the Little Sandy River are already proving to be popular among locals and out-of-towners alike. A canoe launch at the Laurel Gorge Cultural Heritage Center and Hiking Trail System and a new boat ramp five miles downriver near Sandy Hook were completed last fall. They take boaters through the scenic Laurel Gorge area, already popular with hikers and anglers, the paper reports.
Across the United States, the coal industry is under siege, threatened by new regulations from Washington, environmentalists fortified by money from Michael R. Bloomberg, the billionaire mayor of New York City, and natural gas companies intent on capturing much of the nation’s energy market, reports the New York Times.
So when the operator of a Big Sandy, Ky., power plant announced last year that it would be switching from coal to cleaner, cheaper natural gas, people there took it as the worst betrayal imaginable, the Times reported.
Facebook stock fell below $30 Tuesday, tumbling $3.07 to $28.84, the fourth decline in its seven days of trading, reports USA TODAY. It’s now down 24 percent from its IPO price, making it the 19th worst initial public offering of 125 in the last 12 months.
Seeing Facebook suffer is making investors wonder if the industry is the bonanza they’d hoped it was. Investors are already scrambling out of related stocks, including social game company Zynga; the so-called “Facebook of China” RenRen; and Internet radio company Pandora, the paper reports.
Ground beef producers are hoping the summer grilling season will provide a bounce-back from customer revolt this spring over a product dubbed “pink slime” but known in the beef industry as “lean, finely textured beef,” USA TODAY reports.
Minneapolis-based Cargill, which produces 1.5 billion pounds of ground beef annually and is the nation’s largest producer, saw 80 percent of its customers for finely textured beef disappear after the controversy erupted in March.