The city of Somerset has activated the first compressed natural gas dispenser in Kentucky for vehicles powered by natural gas, reports the Commonwealth Journal.
Called a single pole dispenser, it currently is being used to fuel the city’s Honda Civic, a recently acquired passenger car that uses compressed natural gas. A pump, like a regular service station pump, will soon be installed to fuel both city-owned and publicly owned compressed natural gas vehicles.
City officials are excited about the amount of taxpayers’ money that can be saved by using compressed natural gas-powered vehicles, the paper says.
A Kentucky-based bank that lost at least $14 million on mortgage-backed securities failed to read documents associated with the investment and didn’t give enough specifics to sustain claims of fraud against now-defunct investment bank Bear Stearns, a federal appeals court ruled Wednesday, according to the Associated Press.
While Republic Bank showed some elements of fraud on behalf of the salesman for the investment bank, it failed to lay out specific incidents in which Bear Stearns knowingly lied about the securities and failed to do its due diligence before investing a total of $52 million from 2003 through 2006, one of the judges wrote.
Churchill Downs Inc. announced Wednesday that the former chairman of Youbet.com has resigned from the board of the Louisville-based gambling company and that the board’s size was being reduced by one position, the Courier Journal reports.
The CEO of one of the three Medicaid managed care companies in Kentucky says his company is losing money because the state failed to provide accurate utilization data and doesn’t account for the company’s higher costs in managing care for high risk patients, reports CNHI News Service.
Michael Murphy, CEO of CoventryCares of Kentucky, faced tough questioning from state lawmakers on the Committee on Health and Welfare on Wednesday about the company’s termination of contracts with several hospitals in eastern Kentucky, principally Appalachian Regional Healthcare which has eight hospitals in the region. ARH sued Coventry after the managed care company served notice that it intended to terminate its contract with ARH, the service says.
Lexington craft brewery West Sixth Brewing will expand into the Louisville market starting Friday, reports the Lexington Herald Leader.
Its West Sixth IPA beer will be served on draft at the Louisville Area Business Alliance Brewfest Friday at Louisville’s Slugger Field. After the brewfest, a launch party will introduce the West Sixth IPA in cans at Nachbar in Louisville’s Germantown neighborhood, the paper reports.
A distribution plan calls for the beer to be available at stores and restaurants in metropolitan Louisville in the next few months.