IL described it as the end of a 65-year-old era, the selling of General Electric’s Appliance Park location in Louisville to Euro-appliance maker Electrolux. Though the deal isn’t slated to close until 2015, officially, everyone pretty much had the sense that things wouldn’t be the same at the appliance compound.
“Appliances and lighting accounted for only about 6 percent of the company’s $146 billion in 2013 revenue,” IL wrote. “In a Wall Street Journal post April 17, GE CEO Jeff Immelt foreshadowed the sale by stating GE executives are planning to sell off under-performing businesses at the hugely diversified conglomerate to boost sagging profits and share value.”
We don’t know everything, but we do know that Kentucky likes its bourbon. So we took it as big news when Gov. Steve Beshear and Louisville Mayor Greg Fischer announced Brown-Forman Corp. was going to build an Old Forester distillery and visitor experience on Main Street downtown.
Brown-Forman plans to open the facility for its founding brand, Old Forester, in two historic buildings at 117 and 119 W. Main St.. The building at 117 W. Main once was home to the Mercury Paw music venue and before that City Lights, among others.
The combined buildings have approximately 55,000 square feet with 52 linear feet facing Main Street. The investment will include renovating the buildings and purchasing equipment. The distillery is expected to create up to 20 new jobs and cost approximately $30 million to develop.
It was the deal Kindred Healthcare wouldn’t let die. The Louisville-based health care firm purchased senior health care provider Gentiva Health Services for $1.8 billion, way beyond its initial offering price of $533 million. And for all that what did Kindred get? A company that bled red ink.
Yet that wasn’t how Kindred execs saw it the day the deal was iced. Instead they emphasized how the combined companies will have annual revenue of about $7.1 billion, and operating income of about $1 billion. “Kindred expects the acquisition of Gentiva ‘will be immediately and significantly accretive to earnings and operating cash flows.'”