SMILEY PETE
INSIDE
PUBLISHING
BusinessLexington
JANUARY 2014 VOL. 10 ISSUE 1
www.businesslexington.com
BLUE AND CO. DIRECTOR LINDY KARNS
WEST LIBERTY BANK PROVES RESILIENT IN HELPING BRING ITS CITY BACK
PAGE 9
PAGE 12
FaceToFace
BizList
ALICE AND GREG KELLER ENJOY BOOST IN BUSINESS SINCE LAUNCH OF BEER CHEESE TRAIL PAGE 16
GrammarGourmet NEW YEAR’S REVOLUTION PAGE 5
BookReview WORK OF FICTION URGES KENTUCKY-ROOTED EVALUATION OF LIFE AND CAREER PAGE 6
Independent Business GOAL TRACKING: LOCAL BUSINESS PROFESSIONALS SHARE THE ORGANIZATIONAL METHODS THEY USE TO ACHIEVE THEIR AIMS
Accounting Firms PAGE 18
PAGE 7
WorkLife MAKE UNPLUGGING FROM THE OFFICE PART OF YOUR POLICY PAGE 8
BusinessLeads AN INDEX OF RECENT BUILDING PERMITS, REAL ESTATE TRANSFERS, LOANS, BIDS AND NEW BUSINESS LICENSES PAGE 20
Who’sWho EMPLOYMENT NEWS AND AWARDS FROM AROUND THE BLUEGRASS COMMUNITY PAGE 22
Page turners International Book Project looks at different ways to deliver its mission PAGE 15
control take
of your comfort
Say hello to the perfect combination of personalized comfort and contouring support. TEMPUR-Choice™ mattresses have multiple adjustable comfort zones, with our bodyconforming TEMPUR® material on top. At the touch of a button, each of you can adjust the feel under your head, legs, and back. New TEMPUR-Choice lets both of you get your best night’s sleep. Together.
ADJUSTABLE, SOFT TO FIRM
74/
$
FREE FREE FREE same day 0% APR À QDQFLQJ
up to
*
2018
*
delivery! 7 days a week in select markets*
FREE
32” LCD TV!
or
FREE
mo.* Queen set
IN
*
KINDLE FIRE HD
or $ FREE * 300 GIFT!
STOCK & ready to go!
IMMEDIATE DELIVERY!*
120 day price promise
120 night comfort promise
Find a lower price within 120 days of your purchase and we will refund 120% of the difference.*
Not comfortable within 120 nights of your purchase? We’ll exchange your mattress for one that is right.*
HOURS: Monday - Saturday 10:00am - 8:30pm / Sunday 12:00pm - 6:00pm TIVERTON
859-224-1008
WOODHILL
859-269-5237
HARRODSBURG ROAD 859-388-9864
sleepoutfitters.com
NEW CIRCLE ROAD
859-388-9923
* Financing requires credit approval and minimum purchase. Not all applicants will qualify. Min monthly payment required. Ask for our no credit check option. Monthly payments based on 24, 36 & 48 months special financing and excludes sales tax. See store for complete details. Prior sales excluded. Art only representation, actual product may vary. All beds not available in all stores, but may be ordered at customer’s request. Conditions apply to the 120 Night Comfort Promise and 120 Day Price Promise – please see store or website for details. Free delivery on any ticket above $599. Excludes $19.99 removal/ recycling fee. Some restrictions apply on same day delivery. 0.00% financing for up to 2018 applicable for purchase of mattress with adjustable powerbase unless otherwise noted. Kindle devices are given away on behalf of iMS. Amazon is not a sponsor of this promotion. Kindle Fire is a trademark of Amazon.com, Inc. or its affiliates. Some restrictions apply. See store for details. For SleepStakes details, visit us on Facebook.
3
JANUARY 2014 WWW.BUSINESSLEXINGTON.COM
Business Lexington
BestoftheWeb WHAT YOU MIGHT HAVE MISSED AT BIZLEX.COM
Chuck Creacy PUBLISHER
chuck@bizlex.com
Lexington Convention and Visitors Bureau announces name change
Chris Eddie PUBLISHER
chris@bizlex.com Erik A. Carlson
Starting the first of the year, the Lexington Convention and Visitors Bureau will be known as VisitLEX, which has been the organization’s website address for some time.
EDITOR-IN-CHIEF
erik@bizlex.com Susan Baniak FEATURES EDITOR
susan@bizlex.com Drew Purcell ART DIRECTOR
drew@bizlex.com Robbie Clark
NEW MEDIA DIRECTOR
robbie@bizlex.com ACCOUNT EXECUTIVES
Amy Eddie amy@bizlex.com Carmen Hemesath carmen@bizlex.com Linda Hinchcliffe linda@bizlex.com Steve O’Bryan steve@bizlex.com Ann Staton ann@bizlex.com EVENTS/SPONSORSHIPS
Robbie Morgan
EVENT COORDINATOR
rmorgan@bizlex.com
434 Old Vine Street or P.O. Box 22731 Lexington, KY 40522-2731 Phone (859) 266-6537 Fax (859) 255-0672 www.smileypete.com
“The vision of VisitLEX remains the same: to serve as an invaluable resource to visitors, the community and partners as one of the nation’s premier destination marketing and service organizations,” a release from the bureau states.
With report done, mayors consider future of BEAM
aided by the Brookings Institute. Now the mayors who first conceived the idea of this collaboration are looking at how it can continue on.
Table Three Ten owners open first part of sprawling Frenchstyle food and wine complex Krim Boughalem and Andrea Sims were planning National Provisions even before they opened Wine + Market back in early 2008. When they sold the Jefferson Street shop a little more than two years ago, it was to concentrate on their popular wine bar and restaurant, Table Three Ten, and to get Provisions off the ground.
After two years of work, the Bluegrass Economic Advancement Movement (BEAM) has produced a 60-page report for what a 22county region anchored by Lexington and Louisville needs to do collaboratively to become a hub for advanced manufacturing.
Associate dean given top post for UK College of Agriculture
Creating a stronger workforce equipped with the technical and engineering skills to tackle the needs of manufacturers proved to be the top priority of a board made up of CEOs, education, labor and business leaders, with oversight
Cox will replace Scott Smith, who has led the college since 2001. He plans to return to the faculty, where he has been a member for 35 years. Cox has been in her current position since 2001, when she came to UK from Mississippi State University. BL
Associate Dean of Research for the University of Kentucky’s College of Agriculture, Food and Environment, Nancy Cox, has been named the school’s dean.
People In This Issue Allen, Hank: Angelucci, Bret: Bundy, Dave: Correll, Angela: Curry, Ryan: Davis, Sandy: Dorton, Richard: Elam, Howard B.: Emmons, Jamie: Gray, Jim: Hall, Kasey: Haney, Mark: Hass, John: Hass, Teri: Henton, Hampton “Happy”: Karns, Lindy:
12, 13 11 10 6 16 7 10 12, 13 5 5 17 14 16 16 14 9
Keller, Alice: Keller, Greg: Kesterson, Neil: Koonce, Jeff: Martin, Adam: Neckers, Chassity: Nemeth, Lydia: Phillips, Hank: Piazza, Karen: Rickard, James: Roger, Thomas: Rumpke, Linda: Shapiro, Scott: Svarczkopf, Kristen: Van Meter, Harriet: Wilk, Johnathan:
16 16 7 11 7 15 17 16 17 11 14 5 5 15 15 7
Good Food Co-Op: Governor’s Office of Agricultural Policy: Hall's on the River: Howard and Miller: International Book Project: JK’s at Forest Grove: Kentucky Agricultural Development Fund: Kentucky Farm Bureau: Lexington Jobs Fund: Mix on Vine: Morris Book Shop: Mountain Rural Telephone Cooperative: Mousetrap: North Lime Coffee and Donuts: Pieratt’s: Salvation Army: Stella’s Kentucky Deli: The Art Movement Gallery: The Lexington Angler: Tobacco Transition Payment Program: Town & Country Bank and Trust Co.: United Way of the Bluegrass: West Sixth: Winchester-Clark County Tourism: Woody’s Sports Bar & Grill: Your Community Bank:
19 14 16 19 15 16 14 14 5 17 19 12, 13 17 19 19 9 19 7 19 14 5 9 19 16 16 11
Organizations In This Issue A Cup of Commonwealth: Able Engine: Athenian Grill: Barney Miller’s: Beer Cheese Trail: Bella Rose: Black Market : Blue and Co.: Blue Stallion Brewery: Bluetique: Bourbon n’ Toulouse: Chevy Chase Inn: Chrysalis House: Commercial Bank: Common Grounds: Community Bank Shares of Indiana: Community Trust Bank: Conservation Reserve Program: Country Boy: Dean Dorton Allen Ford: DJ’s Bar & Grill: Dynamix Productions, Inc.: Engine House Deli: Farm Service Agency: FDIC: First Federal Bank: Floor Coverings International of Central Ky:
19 7 19 19 16 19 19 9 19 19 19 19 9 12, 13 19 11 12, 13 14 19 10 16 7 16 14 5, 11 11 7
People and organizations included on the Who’s Who, BizList and special section pages do not appear in these indices.
Shale Gas Plays?
WE’VE GOT YOU COVERED
Small Business Lending
h4HEY HAVE an exceptional UNDERSTANDING OF THE ENERGY INDUSTRY AND how it operates.”
Growing your business is our first
priority.
— Reported in Chambers USA
%.%2'9 ,)4)'!4)/. %-0,/9-%.4 !.$ 42!.3!#4)/.!, ,!79%23x 7% 2% ./4 *534 !./4(%2 "/54)15% s th largest energy law practice in the country
Talk with us about your lending needs.
— Energy Law 360
We’re ready to listen.
s -ULTI BILLION DOLLAR OIL AND GAS TRANSACTIONS s 'OVERNMENTAL AFFAIRS SUPPORT TO NATIONAL ENERGY DEVELOPERS s /NE OF THE LARGEST MINERAL TITLE GROUPS in the nation s .ATIONALLY RECOGNIZED IN /IL 'AS ,AW — Best Lawyers in America
(859) 296-0000 | www.traditionalbank.com
COLORADO
KENTUCKY
OHIO
PENNSYLVANIA
TEXAS
WEST VIRGINIA
WWW.STEPTOE-JOHNSON.COM SHARON O. FLANERY Energy Team Leader THIS IS AN ADVERTISEMENT
4
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
EconomicAnalysis A monthly look at economic indicators complied by the Center for Business and Economic Research (CBER) at the University of Kentucky. For more on CBER, visit www.cber.uky.edu. Most Recent Data as of Nov.
1 mo. chg.
1 yr. chg.
Payroll employment MSA Manufacturing payroll employment MSA Unemployment Rate MSA
263,100 Oct. (p) 29,100 Oct. (p) 6.6% Oct. (p)
-1.3% 0.3% 0.2
2.2% -1.0% 0.5
Payroll employment US Manufacturing payroll employment US Unemployment Rate US
136,765,000.00 Nov. (p) 12,014,000.0 Nov. (p) 7.0% Nov. (p)
0.15% 0.23% -0.3
1.71% 0.26% -0.8
Consumer Price Index, Southern Region Consumer Price Index, US Producer Price Index, US
227.42 Oct. 233.81 Oct. 197.50 Oct. (p)
-0.20% -0.06.% -0.15%
1.30% 0.94% 0.30%
PVAStatistics The latest statistics on local residential and commercial property compiled by the office of the Fayette County Property Valuation Administrator. SEPTEMBER
RESIDENTIAL HOME SALES
500
Home sales in November fell only slightly as compared to the same month last year.
400
(Includes single family, duplex and condo units)
OCTOBER
NOVEMBER
300
200
100
2012
0
2013
5.5% Index of Leading Indicators** Fed’s Index of Industrial Production**
97.5 Oct. (p) 100.0 Oct. (p)
0.2% -0.1%
N/A 3.2%
3-month treasury yield*** 10-year treasury yield***
0.07% Nov. 2.72% Nov.
0.02 0.10
-0.02 1.07
2nd qtr. 2013
1 qtr. chg.
1 yr. chg.
15,819.00
0.89%
1.83%
Real GDP (billion $)
MSA: Lexington-Fayette Metropolitan Statistical Area (p): Preliminary * Source: http://www.conference-board.org ** Source: Federal Reserve Statistical Release - http://www.federalreserve.gov/releases/G17/ *** Source: Federal Reserve Statistical Release - http://www.federalreserve.gov/Releases/H15/data.htm Note: In some cases 1 mo. and 1 yr. changes are based on revised data from previous mo./yr.
FROM NOV 2012
3.1%
418
308
358
357
311
297
33.3%
RESIDENTIAL FORECLOSURES
17.9%
FROM NOV 2012
November 2013: 39 October 2013: 25 November 2012: 89
FROM NOV 2012
15.9%
FROM OCT 2013
17.5%
FROM OCT 2013
FROM OCT 2013
56%
MEDIAN SINGLE-FAMILY RESIDENTIAL SALE PRICE November 2013: $155,000 October 2013: $159,900 November 2012: $164,000
FROM OCT 2013
56.2% FROM NOV 2012
RESIDENTIAL BUILDING PERMITS
COMMERCIAL BUILDING PERMITS
November 2013: 116 October 2013: 138 November 2012: 174
November 2013: 33 October 2013: 40 November 2012: 28
For more, visit www.fayettepva.com
STRATEGIC DIRECTION
If you’re planning now, plan on us. From memorable meetings to exceptional events, our exquisite white linen service offers you and your guests, from 10 to 300, the best in customer service and excellent food. business meetings rehearsal dinners wedding receptions sporting events family gatherings client development holiday parties employee appreciation dinners
“LEXINGTON’S PREMIER MEETING AND BANQUET FACILITY”
For more information, call Jennifer Burchett @ 859.335.6500 ext 105 LANSDOWNE SHOPPES 3373 Tates Creek Rd | www.bluegrasshospitality.com
In any business, the path to success is often riddled with unique challenges. That’s why MCM’s CPAs and advisors are prepared to offer solutions that go beyond the traditional tax and accounting services, providing customized strategies to help keep our clients moving forward. Contact us to ensure you’re headed in the right direction.
Louisville | Lexington | Frankfort | 502.749.1900 | www.mcmcpa.com
Lexington finalizes plan for $1 million economic development fund
Starting in early 2014, Lexington Mayor Jim Gray will appoint the inaugural Economic Development Investment Board to oversee and distribute the newly created milliondollar Lexington Jobs Fund.
Council initially set the $1 million aside in the fall from revenue above what was anticipated from the previous budget year. After the board is formed, companies looking to grow in Lexington will be able to apply for city funds.
“We immediately become the best place in the country for these companies to look,” said Gray’s senior aide, Scott Shapiro.
“That’s not just because of incentives,”
JANUARY 2014 WWW.BUSINESSLEXINGTON.COM
Gray’s chief of staff Jamie Emmons added. Research-based companies also can discover a large talent pool because Lexington is a university city, and it enjoys a low cost of living, Emmons said. The funds, which Gray said he’s hoping to make permanent, will be given to companies for a variety of uses. Businesses focused on advanced manufacturing, technology, professional shared-service operations or health care, or those that have or will locate their primary base of operation in Lexington, will have priority for the funds. Businesses “must provide evidence of potential commercial success,” according to the ordinance passed by council on Dec. 5.
One way of proving that is by showing federal Small Business Innovation Research (SBIR) funding or federal Small Business Technology Transfer (STTR) funding, “or other qualified federal or state funding through a similar process in which the viability of the business has been substantially reviewed.” Others, however, won’t be excluded. While the development board will distribute the money, all loans — with a max of $250,000 — and grants — limited to $100,000 — must be approved by city council.
Once-troubled Bardstown bank emerges from FDIC order Bardstown, Ky.-based Town & Country Bank and Trust Co. announced that it is no longer
under a consent order from the Federal Deposit Insurance Corporation and the Kentucky Department of Financial Institutions. Since entering into the Consent Order, Town & Country’s board of directors and leadership team have made numerous changes to improve the bank’s operations and risk management practices, including realigning its lending policies, enhancing credit monitoring and putting new control processes in place to resolve problem loans, the bank stated in a release. Town and Country hired its current president and CEO, Linda Rumpke, while under the consent order. Rumpke formerly headed Chase’s operations in Lexington and served as finance commissioner during former Mayor Jim Newberry’s administration. BL
Grammar Gourmet By Neil Chethik
New Year’s Revolution If you’re like me, you’re getting pressure to list your New Year’s Resolutions. My advice: Resist. For as long as possible. Then, if you must set a healthful plan for 2014, choose the vocabulary that is most likely to offer an escape hatch.
First rule: Don’t call it resolution. A resolution is defined as “a firm decision to do or not to do something.” This doesn’t leave you much wiggle room. If you make a resolution, you can pretty much count on being a failure within weeks.
You should also avoid using commitment. A commitment is “the state or quality of being dedicated to a cause or activity.” Not much opportunity there to shirk. If you make New Year’s Commitments, I’m afraid that you’ll be obligated to carry them out — or suffer the self-esteem consequences.
How about a New Year’s Target? That certainly lowers the bar. A target is “a person, object, or place selected as the aim of an attack.” Making something a target doesn’t require action to actually hit the target. But if I’m honest, it implies that I will try.
Can we get even vaguer? How about New Year’s Intentions? An intention is “an aim.” I may aim to do something, but aims go awry. And unlike with a resolution, commitment, pledge or promise, our integrity is intact even if we fail to carry out an intention. Yes, we intended to lose 20 pounds. Oops, it didn’t happen. We intend to try again.
If even an intention seems confining, allow me to offer the ultimate in unencumbered goal-setting: A New Year’s Notion. A notion is “an impulse or desire, especially one of a whimsical kind.” I have an impulse toward bettering myself, a desire to be a healthy, wise, contributing member of society. How whimsical! BL Neil Chethik, aka the Grammar Gourmet, is executive director of the Carnegie Center for Literacy and Learning (www.carnegiecenterlex.org). Contact Chethik at neil@carnegiecenterlex.org or (859) 254-4175.
See the world in a new way. Why settle for local when you can go global? The Cabinet for Economic Development, along with its Kentucky Export Initiative partners, wants to help your company achieve its full potential in the international marketplace. That’s why we’re now accepting applications for grants made possible by the U.S. Small Business Administration’s State Trade and Export Promotion program. Qualifying companies can use the STEP grant to assist with market research, identifying international customers, participating in trade
shows, and even translating websites and marketing materials. Plus, our team of experts will guide you every step of the way. Exporting has already proven its value in helping Kentucky companies grow their capacity, increase productivity and diversify their customer base. Kentucky exports surged to $22 billion in 2012, up more than 100 percent in a decade. Let us help you become part of this success. Find out more about the STEP program under the “assistance” section at www.kyexports.com.
For more information visit ThinkKentucky.com or call 800-626-2930. Facebook.com/ThinkKentucky
Twitter.com/ThinkKentucky
5
Cabinet for Economic Development
6
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
Paul Sanders has been reviewing business-related books for BizLex since 2006. If you would like to recommend a book for possible review, please contact Paul Sanders at psanders@bestfoot forwardconsultations.com.
BookReview
Work of fiction urges Kentucky-rooted evaluation of life and career By Paul Sanders COLUMNIST: BUSINESS BOOK REVIEWS
O
pportunities to learn the lessons of business sometimes present themselves by unexpected means. While business books have long been an established genre, sometimes a different format is more effective in exploring the complexities inherent in our contemporary work lives. Grounded, by Angela Correll, can be considered such an opportunity. A carefully crafted and beautifully written work, it digs into the issues of the search for meaning in today’s stress-riddled life. A seventh-generation Kentuckian, Correll has written a first novel that shows fiction is at times the most effective means of exploring who we are. Some critics argue that the first sentence of a novel is the most important one, setting the tone for the rest of the book. Correll’s opening line seems in agreement with this idea, defining the context of the novel in five simple words: “Annie couldn’t wait to get home.” This is a novel about home — finding meaningful work that sustains us, values that ground us and relationships that complete us. Supportive of this central theme, Correll also weaves in contemporary ideas on sustainable living, the slow food movement and farmto-table food production. Within the fictional context, she presents ideas of contemporary
writers and thought leaders on these issues such as Wendell Berry and Michael Pollan. Correll’s fiction is based on her experience. She is the co-owner of The Bluebird, a restaurant promoting local food, as well as Kentucky Soaps & Such, a shop selling handcrafted goat-milk soap. Both businesses are located in Stanford, Ky., and both are high quality and exceptional. While Correll sets her novel in a fictional rural setting in Kentucky, the reader can’t help but wonder if it actually exists. Correll writes on a parallel with Garrison Keilllor’s Lake Wobegon Days, giving us characters and places so memorable that we feel as though we could stop in for a glass of sweet tea. This is reinforced by a pencil-drawn map of “The Farms on May Hollow Road,” which opens the novel. This simple rendering reinforces a setting that could be construed as simplistic or even naïve. The author, however, fills in the lines with compelling writing that is filled with warmth and humor, sorrow and tragedy. Correll has given us an unforgettable portrait of life in rural Kentucky that allows us, as one character says, to “laugh and cry at the same time.” Annie, the prodigal daughter in the story, is a 10-year veteran flight attendant who is grounded when the airline is taken over. She is forced to give up her New York apartment and simultaneously discovers that her relationship
with her boyfriend is not what she thought. Taking a break from her relationship and job-related stress, Annie decides to return to her grandmother Beulah Campbell’s farm in Kentucky. There, she finds the farm in disrepair and her grandmother in questionable health. This shotgun-wielding grandmother is Annie’s only living relative, and despite her country resilience, she needs help. Through the character of Beulah, Correll skillfully shows us the contrast between the high speed of contemporary living and a more contemplative, even-paced life. For Beulah, the meaning of her life is centered in hospitality she gives others, her community and family, and her relationship to hard work and the land. The descriptions of dinner, most of it from Beulah’s garden, are country scrumptious. Roast beef, potatoes and carrots, biscuits from scratch — and of course, homemade pie — grace the table as plainspoken conversation proves the author’s mastery of creating dialogue. Appropriately seasoned with colloquial expressions, it serves up the novel’s themes with evenhandedness. While Annie’s intentions are to resume her life in New York as soon as possible, she finds herself drawn to her ties in Kentucky in ways she had long stopped considering. Even the sounds of the country have a new effect on her. When her childhood sweetheart, Jake Wilder, shows up, the stage is set for new
choices. Jake, a successful corporate business executive, is considering his own relationship to the farm of his upbringing. After several missteps, he and Annie discover a new relationship between them. Grounded is an engaging and delightful read. It is also a novel of substance that allows the reader to examine work, relationships and personal values in a gentle way that nurtures and inspires. Through her book, Correll urges us each to live with passion and purpose and to become truly grounded. BL This book was recommended for review by Dale Ditto, senior vice president, McIntosh-Ditto Wealth Advisory Group of Hilliard Lyons.
Grounded By Angela Correll Koehler Books (October 1, 2013)
Grab a home loan...
WITH NOTHING DOWN NO down payment required NO points at closing NO mortgage insurance required Up to 30 year amortization Competitive interest rate Discounted closing costs Purchases only
% 0 0 1 ING C
N A N I F
ANDOVER 3098 HELMSDALE PL. 264-0990 CHEVY CHASE 641 E. EUCLID AVE. 255-6267 HARRODSBURG ROAD 2401 HARRODSBURG RD. 224-1183 TATES CREEK 3608 WALDEN DR. 273-3933
*As of 11/20/13, $100,000 ten-year Adjustable Rate Mortgage (ARM) loan, 4.206% Annual Percentage Rate (APR) with 120 payments of $499.29. After 120 Payments, loan rate adjusts yearly based on changes to the Prime Rate as published in the Wall Street Journal plus 0.50%. As of 11/20/13 Prime Rate is 3.25%, therefore loan payment would adjust to 240 payments of $472.93. Loan example does not include monthly taxes and insurance so your actual payment may be greater. Offer available for owner-occupied properties, purchases only and subject to underwriting and approval. This loan has a prepayment penalty ask us for details. Maximum loan amount $417,000. Please contact one of our banking officers for information on higher loan amounts. Certain restrictions apply. Limited time offer. Republic Bank & Trust Company Loan Originator ID #402606. Republic Bank Loan Originator ID #401399.
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
7
IndependentBusiness
Goal tracking Local business professionals share the organizational methods they use to achieve their aims By Kathie Stamps COLUMNIST: INDEPENDENT BUSINESS
T
he meaning of the word “goal” in the 1500s was a boundary or limit. Today’s goalsetters think of boundless, limitless accomplishments. How did you do in 2013? Four central Kentucky businesspeople share their results and goal-setting methodologies. Adam Martin Creative Director, Able Engine www.ableengine.com Business started: January 2012
A couple of goals l have had while working at Able Engine include growing more design-related projects and adding more print and branding-related projects. Another goal of mine was to install a design process for the design team. Those who understand growing companies know that moving beyond three to four founders to a team of 18 certainly has growing pains MARTIN in regard to internal communications, knowledge-sharing and processes. I am adamant about writing things down. I am of the opinion that if you don’t write things down, they do not get done. I keep my goals in a to-do list app called Things that runs on iOS. I set up short-term goals and longterm goals here. I also tend to break bigger goals out into smaller tasks to help me take things day by day. That being said, I remain agile and rely somewhat on gut feeling when goals need to change. As a person passionate about what I do, convictions haunt me. I must always be changing, shifting, learning.
Jonathan Wilk Owner, Floor Coverings International of Central Kentucky www.lexington.floorcoveringsinternational.com Business started: January 2007 Planning and goal-setting is hard for me. It is so much easier to focus on the day-to-day activities of owning and operating a small business. This is where being part of a franchise system has benefited me. Floor Coverings International has a fairly rigorous goal-setting and planning process that franchise owners throughout the United WILK States and Canada participate in each year. The process not only involves the traditional sales and profit goals for the coming year, but incorporates staffing goals, marketing strategies to be deployed, cost-containment strategies and new business opportunities to be pursued. It also enables the plans of one franchise owner to be reviewed and analyzed by other franchise owners. If circumstances have changed or the plan needs modification be-
“
Get the home-court advantage. Bank local.
”
cause actual results are not tracking to plan, the peer review assesses this and may make recommendations. I believe 2014 will be a good year. My judgment is it will be incrementally better than in 2013, and hence, my goals for sales and profit will be set with this in mind. Sandy Davis Owner, The Art Movement Gallery www.artmovementgallery.com Business started: October 2013 In July 2013, I set a goal to open The Art Movement Gallery on Oct. 1. I created daily, weekly and monthly tasks to map out how I was going to make my dream a reality. I opened on my target date, as my goals and notes helped keep me focused. My current goals now include the steps necessary to grow my business at a pace I can handle. To stay on target, I utilize an DAVIS old-fashioned, notebooksized calendar and write out (instead of typing) tasks and goals for upcoming days, weeks and months. I include all relevant information, so when it’s time to tackle a particular goal or task, I can get it done, even if I’m away from the office. I continually make updates to my calendar, and adjust and add goals as needed. I also jot down ideas to help mold my future goals. If I didn’t write down goals and how I am going to make each one happen, time would simply be wasted. For me, writing goals is the key for success. Neil Kesterson Owner, Dynamix Productions, Inc. www.dxaudio.com Business started: February 2003 One of my goals when I started the business was to create content, whether it was for broadcast, web or sale. We had self-produced a documentary in late 2012 that had only been for sale. My goal was to get it broadcast in 2013 on television. It has now not only shown on the state's public television network, KET, but is currently being syndicated nationally and broadcast KESTERSON internationally. Since we are a production company, we live and die by deadlines. When I begin work on a production, I usually calculate how long each phase of the project will take, working from the end to the beginning. For instance, I determine how long it will take to mix and deliver the project, which is the final phase. I set my goals like that, by breaking them down into smaller sub-goals or phases. Having big goals is important, but I'm always mindful that smaller, more manageable goals are really what you should measure your performance by. One step at a time up the mountain is easier to manage than trying to jump up to the top and failing. BL
John Calipari Men’s Basketball Head Coach, University of Kentucky Central Bank gives me the winning combination of hometown personal service and expert financial advice. Think local. Grow local. Bank local. Put Central Bank’s hometown advantage to work for you.
centralbank.com
(859) 253-6222 | (800) 637-6884
Member FDIC
8
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
WorkLife
Part I of this column provided an overview of the topic of “unplugging” from work. Part II provides information regarding how organizations and employees can begin to disconnect from work and reclaim their personal time.
Make unplugging from the office a part of your policy By Meredith Wells-Lepley, Ph.D., and Nick Coomer CONTRIBUTING WRITERS
I
n some organizations, there is a perception that an employee who unplugs after work, on weekends, and on vacations is not as dedicated to the organization. Organizations must actively combat this perception, and it starts at the top with organizations’ senior leaders. It’s imperative that organizational leaders recognize the importance of unplugging, not only to their employees but to the organization as a whole, and communicate that message to their employees. Moreover, senior leaders must “walk the talk” and unplug themselves. In addition, there must be ready examples of people known to “turn off” who get promoted. Continuing to promote wellknown workaholics will defeat the message that unplugging is valued. At the middle-manager level, managers must ensure that workers have time to recover, and time off should be a topic of conversation to ensure that employees know it’s valued. Managers should incorporate policies that support unplugging, in some cases even forcing employees to unplug. Some companies are beginning to understand the need for
their employees to unplug and are taking steps to make them unplug. Volkswagen, Europe’s largest carmaker, deactivates all employees’ work email accounts right after work hours and reactivates them right before work is to begin again the next day. And how can employees take steps on their own to unplug? Here are some tips: • Create a strong work-home boundary and ensure work is conducted only in work areas. If you work at home, set rules regarding
Volkswagen, Europe’s largest carmaker, deactivates all employees’ work email accounts right after work hours and reactivates them right before work is to begin again the next day.
in what rooms work takes place (e.g., maybe just your home office but not in the dining room, living room or bedroom). • Set restrictions on work-related communications. Determine where and when you will communicate about work. • Turn off the work email notifications on your phone when you leave the office every day, with the understanding that if you are really needed, someone will call you. • Out of sight, out of mind — Keep your devices in a separate room, out of the way. Put your cell phone in a drawer or on a charger in an out-of-the-way room when you get home every day to remove the temptation to check it. • If you do check your email occasionally, resist the urge to answer every email. Scan the subject lines and only answer ones that are urgent. • Establish family rules, such as no devices at dinner or at certain times (e.g., before breakfast) and hold each other accountable. • Establish rules with your colleagues that support unplugging. • Remind yourself that you and your loved ones need quality time. It is imperative that employees learn to unplug on vacation, too. Americans earn fewer vacation days than people in most countries, and yet 36 percent do not plan to use all
their vacation days. Most leave two days unused. And even when people do go on vacation, many still plug into work. This is counter-productive. People need to leave work and everything about work behind them in order to fully recover. So here are some tips to enable you to get the maximum benefit and rejuvenation out of your next vacation: • Plan the timing of your vacations with colleagues to ensure your work will be covered while you are away. • Select a specific person to serve as your backup. Give that person a detailed account of all your projects and work commitments a couple of days before you leave, so you are sure that someone is knowledgeable in case a client needs something. Tell your co-workers and clients who that person is, too. • Leave your laptop and as many workrelated devices as possible at the office. Don’t take them on vacation or home with you. And if you take your smart phone with you, leave it locked in your room. Remember, when you unplug from work, you are able to plug into the rest of your life and enjoy better work-life balance. BL Meredith Wells-Lepley, Ph.D., is director of research and consulting, and Nick Coomer is research assistant at University of Kentucky’s Institute for Workplace Innovation (iwin). For more information on turnover and other workplace issues, visit www.iwin.uky.edu. Jaime B. Henning, Ph.D., and Yoshie Nakai, Ph.D., industrialorganizational psychology faculty members in the Department of Psychology at Eastern Kentucky University contributed to this column.
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
9
FaceToFace Blue and Co. director combines charitable passions and accounting acumen through board service By Susan Baniak BUSINESS LEXINGTON
B
efore Blue and Co. director Lindy Karns became an accountant, she spent four years working as a social welfare caseworker. It’s a skill set that still comes into play for her, she said, both in her service to clients and her volunteer work on roughly a dozen nonprofit boards. “When people have financial problems, you’re trying to put other tools in their toolbox to help them solve their financial issues,” Karns said. “What you are hopefully doing in board service is the same thing you do in your job, which is to help people get the tools they need to solve their problems.” Karns formerly served as treasurer of the United Way of the Bluegrass, and her current board service supports a wide variety of social, professional and political missions. But having been a single mother herself, her work on behalf of women and children in central Kentucky, as president of the Chrysalis House and treasurer for the Salvation Army, lies nearest to her heart, she said. For Karns, the value of board service is not only about those you serve, but also about the people with whom you interact in life. “I’ve met some of the best people I know from my board service,” Karns said. “The community of people who are engaged and interested in improving their community are the most interesting people of all.” While most board members are passionate about the cause, that fire doesn’t always carry
over to the organization’s financial matters, Karns said. Boards tend to rely heavily on members who bring financial expertise to the table. “As a CPA, you often have to be the ant at the picnic,” Karns said. “People come up with great ideas for the organization, but without the money, you can’t do them.” Karns said it’s a good idea for all board members to check the group’s annual filing (form 990), and even if they aren’t serving in a financial capacity, they should always ensure that the organization is paying its bills and expending grant money responsibly. Most importantly, Karns said, board members shouldn’t be afraid to ask questions. When young staff members at Blue and Co. come to Karns for advice on where they can get involved in the community, she advises them to start where their hearts are, whether it be their church, their child’s school, or their favorite charitable mission. If your motivation for service is simply to spruce up your company bio, she said, your passion for the position is likely to wax thin quickly. While balancing board commitments, job responsibilities and a personal life can feel like a juggling act, Karns said that in today’s fastpaced environment, the challenge lies mostly in setting priorities and determining where her own skill set can be put to the best use. “Life is about choices, and you are the only one that gets to pick what you do with your life. For me, service is more important than many other things,” Karns said. “And I was blessed with abundant energy. I don’t sleep much.” BL
About Lindy Karns Employment: Director, Blue and Co. Prior to her current position, she started her own firm, Dulworth Breeding Karns & Pleasants LLP, in 1989. Hometown: Fairfield, Iowa. She has lived in Lexington for a total of 29 years. Education: B.A. in English literature from the University of Kentucky, M.S. in accounting from the University of South Carolina. Current Board Service: Treasurer, Salvation Army; president, Chrysalis House; treasurer, Kentucky Executive Mansions Foundation; treasurer, Divine Providence Inc.; treasurer, First Saturday in May, Inc. (governor’s Kentucky Derby corporation); board member, Kentucky Equine Humane Center; board member, Kentucky Economic Development Partnership Board; KYCPA tax committee member and member of the board of directors; board member, Emerge Kentucky; Bluegrass Committee, Frontier Nursing University; committee member and 2012 chair of the American Heart Association Go Red for Women Luncheon; and treasurer of multiple political campaigns. Karns also serves as an administrative law judge on the Kentucky Board of Tax Appeals.
Sal’s Chophouse, Lexington, KY 12:00-1:30pm
Sal’s Chophouse, Lexington, KY 12:00-1:30pm
Aldona Valicenti
Audrey Tayse Haynes
Commissioner/CIO, Lexington Fayette Urban County Government
Secretary of the Cabinet for Health and Family Services
Sal’s Chophouse, Lexington, KY 12:00-1:30pm
Thomas D. Clark Center for KY History, Frankfort - 12:00-1:30pm
Jean Hale
Eleanor Jordan
President, Chair & CEO Community Trust Bank
Executive Director Kentucky Commission on Women
10
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
After passing of its founder and former CEO, CPA firm carries on his business legacy By Dan Dickson CONTRIBUTING WRITER
W
hen you visit the website of Dean Dorton Allen Ford, the prominent CPA firm based in Lexington with a branch in Louisville, Ky., you see a large photo and tribute to Richard Dorton, one of the founders of the firm, who died Oct. 22 at age 60, following a brief illness. Not long ago, after 15 years as CEO, Dorton had decided it was time to alter his role with the company. “True to Richard — he was somewhat of a visionary,” said David Bundy, the CPA firm’s current president and CEO, in a recent interview. “Richard had decided BUNDY over a year ago it was time to transition some of his responsibilities at the firm to allow him to do other things at the tail end of his career. It’s sad for us and sad for the clients Richard worked with, but it’s a reminder of who he was, who we are, and how we’re able to move
forward through things like that.” Dean Dorton Allen Ford actually had two beginnings. Dorton, along with Doug Dean and Joe Ford, started the company in 1979 in Lexington, growing it into one of the largest CPA firms in Kentucky. A Louisville office was opened in order to compete for accounting business in the state’s largest city, as well as western Kentucky and southern Indiana. In 2011, the business merged with the 86year-old Louisville CPA firm known as Cotton + Allen to become Dean Dorton Allen Ford. The firm serves many clients, including some of the state’s signature industries. “Health care is our largest; second is equine. We work with a lot of colleges and universities in Kentucky and in other states. We work with coal, oil and gas companies, electrical co-ops and in manufacturing, construction and real estate,” Bundy said. “Those industries are about 65 to 70 percent of what we do.” Bundy felt it was important for the firm to keep the three Lexington founders’ names and to add one of the new Louisville names, Allen, to the title. “Those gentlemen are part of who we are
today. The way they taught client service and approached business decisions are part of what we continue to be,” Bundy said. Some had advised four names in the title might be too much, even confusing. Market surveys were conducted. They discovered the new name was highly recognizable in Lexington, but not so much in Louisville. Bundy didn’t want rebranding to wipe out the legacy of the four names. “I was reluctant, to be honest,” Bundy said. Finally, the firm settled on officially keeping the four-name title, but using Dean Dorton for short. Its logo includes the two names prominently displayed on top, with the four names listed underneath in smaller type. Dean Dorton offers a solid core of business services including tax returns, monthly financial statements, insurance offerings and audit services, among others. “Over time, as our clients required additional services, we added them, like in health care or technology,” he said. The economy hit most companies hard this decade. That’s when the services of a good CPA were needed more than ever, according to Bundy.
“We want to be advisers when a client picks up the phone and says, ‘What should I do?’” he said. He said CPA firms like to work with clients on solid financial ground but sometimes must assist those that are still being pinched. “Some are now beyond the economic downturn, but others are in struggles or feeling the repercussions of the economy,” Bundy said. “Or you see a health-care base dealing with the Affordable Care Act, such as what to do as a provider or as an employer. We navigate all that.” The requirements of a CPA firm continue to be to provide strong, basic services, no matter what the scenario. Bundy said Dean Dorton handles national and regional issues, tax changes, the sale or purchase of a business, a transition in leadership, a shortage in cash flow, growth plans and more. “You want to help them make the right decisions for their company and for themselves, personally. That’s the role of an accountant. That hasn’t changed. But you have to remember that [your CPA firm] will always expand,” he said. BL
“Some are now beyond the economic downturn, but others are in struggles or feeling the repercussions of the economy. Or you see a health-care base dealing with the Affordable Care Act, such as what to do as a provider or as an employer. We navigate all that.” DAVID BUNDY
DEAN DORTON ALLEN FORD PRESIDENT AND CEO
Symptoms: Confused about health-care costs? Unaware of your options? Unprepared to manage the changes? Prescription: Negotiating the Affordable Health Care Act:
Making it work for your small business.
&RPPHUFLDO .HQWXFN\ DQG &XVKPDQ :DNHÀHOG Sales Announcement - The Racquet Club Craig Collins of Commercial Kentucky and Mike Kemether RI &XVKPDQ :DNHÀHOG·V $WODQWD 0XOWLIDPLO\ $GYLVRU\ Group represented Simpson Housing Corp. / Simpson
February 4th • 11-2 McBrayer, McGinnis, Leslie & Kirkland 201 East Main, Suite 900 PANELISTS:
Jon Carroll – Senior Account Executive, Van Meter Insurance Group Beverly Clemons – Owner, CMI Consulting Betsy Johnson – Attorney, Stites & Harbison Cris Miller – CMPE, Mountjoy, Chilton, Medley Garry Ramsey – Chief Marketing Officer, Bluegrass Family Health MODERATED BY:
Anne-Tyler Morgan – Attorney McBrayer, McGinnis, Leslie & Kirkland
Property Group in the disposition of The Racquet Club, a 474-unit apartment community in Lexington, Kentucky. $45 EARLY BIRD UNTIL JANUARY 17. LUNCH AND MATERIALS INCLUDED.
Registration & Information www.bizlex.com/acapanel 502.589.5150
www.commercialkentucky.com
BusinessLexington
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
11
Your Community Bank completes transition into Lexington market By Susan Baniak BUSINESS LEXINGTON
T
he past five years have not been easy for community banks. Yet, at a time when many are struggling with tighter profit margins and heightened regulatory requirements, Indiana-based Your Community Bank has smoothly expanded its operation into the Lexington market. In April 2013, Lexington-based First Federal Bank became the first FDIC-insured Kentucky bank to close since September 2009. Your Community Bank entered into an agreement with the FDIC to take control of three of First Federal’s branch locations, assuming all of the failed bank’s deposits and purchasing almost all of its assets. The deal expanded the bank’s presence in Kentucky, where Your Community also operates locations in Louisville and Bardstown. Under the leadership of KOONCE Lexington native Jeff Koonce, a 27-year veteran of community banking who was named president of the bank’s central Kentucky market in August, Your Community is moving beyond the initial acquisition phase of its entry into the market. Koonce now has turned his attention to fortifying Your Community’s position in Lexington by recruiting top-notch talent to capitalize on high-value market segments, he said. He is also encouraging his staff to get out
Nicole scored a goal but hurt her finger.
of the office and do what he feels community banks do best — take an active role in the community and develop face-to-face relationships with customers. “We work really hard at hiring very customer-centric, talented bankers, and then let them go and build relationships, because that’s what good community banking is all about,” Koonce said. One key area of opportunity for Your Community in the central Kentucky market is commercial lending, Koonce said, and the company recently hired Bret Angelucci as vice president and senior commercial lender to help the bank expand its reach in that arena. “We’ve really found a niche in our market in terms of opportunities in the small business arena,” Koonce said. “I think we are an excellent commercial lender in this market, and we have a strong staff that can back that up.” Koonce also intends to build a solid, localized mortRICKARD gage lending team, he said, building on the former strength of First Federal in that market segment. The move into Lexington has exceeded expectations, said James Rickard, president and chief executive officer of Community Bank Shares of Indiana, the holding company for Your Community Bank, based in New Albany, Ind. “This would have been a natural transition for us as we expand in Kentucky,” said
Scans revealed a deeper problem.
Rickard, himself a University of Kentucky alum. “Lexington is a competitive market, but when we looked at this, we thought that there was tremendous opportunity for growth.” And while the economic slowdown has been difficult for many community banks, Rickard said Community Bank Shares of Indiana took some conservative steps in 2008 and 2009 to solidify its financial position. As a result, the company has enjoyed 14 consecutive quarters of above-average earnings, and American Banker magazine recently ranked Community Bank Shares of Indiana among the nation’s top 200 community banks, based on its three-year average return on equity. “We are entering from a position of strength,” Rickard said. “We are in a position where we are always looking for opportunities to expand, ... if it fits with our culture and can be accretive to our shareholders.” According to a regulatory filing update on the First Federal acquisition submitted to the SEC in August, the company estimated its acquisition and integration costs at between $300,000 and $350,000. As a result of the transaction, Your Community Bank acquired approximately $93.6 million in total assets in fair value, including loans with a reported fair value of $63.6 million. The bank assumed slightly more than $87 million in deposits, which represented an increase of roughly 14 percent to the company’s total deposits of $622.5 million as of March, along with $4.4 million in Federal Home Loan Bank advances. Community Bank Shares recorded a bargain purchase gain of $1.9 million in the second
quarter as a result of the transaction. During the transition, Your Community Bank also maintained First Federal’s Georgetown branch and its Lane Allen Road location in Lexington to help former First Federal customers through the turnover, but those locations ultimately were closed down by the FDIC. Rickart said that the bank did let go some operational staff where redundancies occurred, but it has maintained its branch office staff, and Koonce said the bank is looking to expand its workforce as more opportunities arise. Your Community Bank has 20 locations across Indiana and Kentucky, including its three locations in Lexington. As of June 30, Your Community Bank’s deposits in the Lexington area were listed at just shy of $48.6 million, according to the FDIC’s website, and its market share in the Lexington-Fayette MSA was .57 percent. BL
“We are entering from a position of strength. We are in a position where we are always looking for opportunities to expand, ... if it fits with our culture and can be accretive to our shareholders.” JAMES RICKARD
PRESIDENT AND CEO OF COMMUNITY BANKSHARES OF INDIANA
Nicole’s specialist referred her to UK. UK experts were able to confirm the diagnosis and treat Nicole’s rare condition.
She received the specialized care she needed.
Now Nicole’s back in the game.
Visit ukhealthcare.uky.edu/Nicole or call 800-333-8874 to learn more.
12
JANUARY 2014
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
WWW.BUSINESSLEXINGTON.COM
Commercial Bank President Howard B. Elam stands by a sign announcing the return of his bank's headquarters. Construction has yet to begin as the bank battles with its insurance company over compensation.
The long rebuild West Liberty bank destroyed by tornado proves resilient in helping bring its city back
By Erik A. Carlson
BUSINESS LEXINGTON
T
he town was on edge as Howard B. Elam went home early on the first Friday in March 2012. His bank, Commercial Bank in West Liberty, Ky., usually stayed open until 6 p.m. on Fridays, but two days earlier, a small tornado had passed through the outskirts of the Morgan County seat, damaging a small shopping center and taking out trees on Elam’s property. “It was about 100 yards from my house,” Elam said when remembering the phone call he’d received from his wife, a nurse at the nearby Morgan County Appalachian Regional Healthcare Hospital. She had asked him to head home to look after their then 14-year-old son, who was home alone. Doing so got him out of the path of an EF3 tornado that stayed on the ground for a 2012 record of 85 miles, according to the National Weather Service. The tornado, according to the Weather Channel, packed winds of 140 miles per hour as it took the roof off the hospital where Elam’s wife was working before setting its aim down the hill on downtown West Liberty, home to his bank and the United Methodist Church, where he served as treasurer. Elam’s seen neither of the buildings intact since.
“I’ve been in a war zone before. I’ve been in Vietnam, and that’s what it looked like,” Elam said from behind the desk of what is now Commercial Bank’s branch in the Index community of Morgan County, two and a half miles down US 460 from the center of town and the former sole location of the 113-yearold bank. “Everything was just chaos — buildings tore up, telephone poles down, trees down, some buildings totally demolished, some not. Just a mess.” Elam, the bank’s president and member of the board of directors, was told to leave by Hank Allen, the bank’s CEO and chairman, who rode out the storm with an employee and a few people who had taken shelter in the stairwell of the three-story building. The top floor, leased by Appalachian Regional Healthcare, was gone. The second floor, which housed the bank’s computer systems “was gutted,” according to Elam, as all of the windows were smashed and debris littered what remained of the floor. Everyone in the building was fine. But the county’s largest bank had taken as severe of a hit as anything else in the city. “This bank was totally wiped out. We didn’t know what we were going to do,” Elam said. The city was blockaded by law enforcement and the National Guard, not to mention the debris, which included the steeple of
PHOTO BY ERIK A. CARLSON
Elam’s church in the middle of the intersection of Main Street and Prestonsburg Road, next to the bank. Early Saturday morning, after spending the rest of Friday tracking down his family and coworkers, Elam joined Allen and a handful of others in bank management for a shortlived trip to the bank. After entering the city on foot with permission from the guardsmen to enter, a member of the Kentucky State Police ordered them out of the bank. “We told him we were management of the bank and we were in there protecting the assets of the bank, and two or three of us were directors, board of directors and actually part owners of the bank,” Elam said in recalling a statement that didn’t come close to swaying the police officer. “We had no choice but to get out.” Fast forward nearly two years and many buildings have been fixed, rebuilt or are under
construction in downtown West Liberty. Just about every building and house near the city’s center has the hallmarks of recent work: brand new cinderblock foundations, new siding, a new roof, recently installed gutters. But the wood privacy fence often seen in Lexington’s suburbs is a staple in downtown West Liberty, which looks like the stereotypical hockey player’s mouth. Many of its teeth are missing. The intersection of Main and Prestonsburg is marked by coming-soon signs, one for the bank and one for the Methodist Church. But Elam, admits he’ll be worshiping on that corner sooner, possibly much sooner, than he’ll be working on it again. Construction on the church is out to bid, but for the bank that didn’t miss a beat in getting operations up and going again after the tornado, there’s no telling when its planned new building will break ground.
“We’re not sure,” Elam said when asked when work might begin on the site that now houses a trailer for tellers on one side and the final remnants of the 20,000-square-foot building, its vault, which remained intact and has continued to house the customer’s safe deposit boxes. A dispute with its insurance company has waged on, and the bank felt there was no way to rebuild what remained and get it up to code, Elam said, while their insurance company felt differently. “We’re conservative by nature, and you don’t want to invest more before you know how much you’re going to get [from an insurance settlement],” he said. While reconstruction drags, the bank’s employees and others in banking, along with the rest of the Morgan County communities, didn’t in the aftermath of the storm. By early Sunday, little more than 36 hours after the storm hit, Elam, Allen and other bank management had received permission from fire marshals and state building inspection to don hardhats and re-enter the building to secure documents and survey the damage. Later that afternoon, the bank’s full staff met and devised a plan to reopen by its usual 9 a.m. Monday time. “We had no other location — none,” Elam said. “We were the biggest bank in town, had the most customers, still do, and we didn’t have a clue what we were going to do.” The county allotted the bank space in its library and technology building. The first floor housed the tellers, and technology was given room on the second floor, where it’s still housed today. “Monday morning up there at the library, we waited on people the old-fashioned way …
We simply just wrote down, pencil and paper. We had two or three tables and three or four tellers set up, and we cashed checks and took deposits on Monday just like we always did. We never missed a beat,” he said. The bank was owned in the late ’80s through late ’90s by Pikeville’s Community Trust Bank, before being sold back to employees of Commercial Bank. Despite no longer being one, Elam said Community Trust had always been seen as a sister bank, and so after the storm, a team of eight technology specialists from Community Trust were dispatched to West Liberty to aide Commercial. By closing time that afternoon, what was left of the computers on the second floor of the destroyed building had been set up in the county building. Two days later, the bank wasn’t working the old-fashioned way anymore; its daily computer updates were re-established. And those looking to get a hold of the bank over the phone were able to do so as the Mountain Rural Telephone Cooperative had set up the bank with five cell phones that rang from the bank’s main number. “By 9:30 Monday morning, we had five cell phones and we were answering calls up at the tech center just like we were Friday when we were in business,” Elam said. “The customers couldn’t believe that they could call the bank and get us. It gave them confidence that everything’s going to be alright.” By then, assistance was pouring in from around Kentucky. “We got help from so many different banks that sent us stuff — furniture, supplies. There’s no way I could remember all of them that helped,” Elam said. “We knew we needed a location back in town, and we knew we needed a more perma-
nent location until we could get rebuilt.” One of the bank’s directors owned a vacant building in Index that had most recently been occupied by a Dairy Cheer restaurant, so the bank decided to renovate the building to house its offices. The parking lot became the bank’s home within a few weeks of the storm, as a trailer for tellers was put on site while loan officers stayed in the county building. Within four months of the storm, the bank’s Index branch was open as tellers manned the counter and loan officers had new desks at a site Elam expects to keep once the new building downtown is finally constructed. And the new offices came just in time for the bank to experience major growth in assets as loans were paid off and other money was deposited as insurance claims came through for residents and businesses affected by the tornado. “All of the sudden, we went from a $125 million bank to almost a $170 million bank, just because of all of the insurance claims and money. Now I think we’re back to $140 million,” he said, adding in the end he expects the bank to settle out in the $135 million to $138 million range. Since the tornado ripped through the community and killed six 22 months ago, the bank that had its home at the center of the community for years has been split for the first time between three locations. “We’re not used to that. You have to operate a little differently when you have separate locations,” Elam said. But he’s looking forward to when his church, the bank and the town where his father was born and where he’s called home since his father left the military in 1963 gets back to the way it was before the tornado.
PHOTO BY ERIK A. CARLSON
The brick encased vault is all that remains of downtown West Liberty's Commercial Bank building. The Old Morgan County Courthouse behind it has undergone extensive repairs since the Mar. 2, 2012, tornado.
“It was a nice little town, and it will be a nice little town again. It is an opportunity that doesn’t come around — and I hate that it came around this way — but you have an opportunity to do something pretty nice,” he said. “Life goes on; you still have to figure out a way to make it work,” Elam said while standing on the former site of the bank he’d left just minutes before it was destroyed. “Nobody that I know in West Liberty’s a quitter. I mean, it’s just not in us.” BL
Bankruptcy Law
201 East Main Street, Suite 900
Government Access
Lexington, Kentucky 40507 (859) 231-8780 | www.mmlk.com
Healthcare Regulation Real Estate Litigation
TITLE SPONSOR
PRESENTING SPONSOR Don & Cathy Jacobs GOLD SPONSORS Alliance Coal, LLC Baptist Health Bullhorn Marketing Carrabba’s Italian Grill Monster Color Time Warner Cable WKYT WLEX-18 SILVER SPONSORS Bluegrass RV
Caller Properties, LLC Central Bank Clay Ingels Company, LLC Dinsmore & Shohl Hillard Lyons, LLC Lexington Clinic Rouse Companies Smiley Pete Publishing, LLC Ruth and Robert Straus UK Healthcare Wabuck Development Company, Inc. WUKY SUPPORTING SPONSORS Above All Charters Alltech Inc. Arlington Christian Church Bluegrass Cycling Club Bluegrass Office Systems Breeding Henderson & Hord PLLC
Cardinal Hill Rehabilitation Hospital Jean & Gene Cravens Crist Creona Designs Mr. and Mrs. J.W. Davis Jr. Dean Dorton Allen Ford Cecil & Judy Dunn R. Douglas Ezzell/Guy-Ezzell Agency Federal Home Loan Bank of Cincinnati Fifth-Third Bank-Institutional Services Frank Hamilton Enterprises Ambrose W. Givens Green’s Toyota Donna & John R. Hall Mr. & Mrs. Lionel Hawse Henkel Denmark Leading Landscape Hisle & Company Dr. Gordon Hyde
The Hope Center also thanks Jack Pattie, WVLK, for serving as master of ceremonies, Everett McCorvey and the University of Kentucky Opera Theatre students for providing special music.
Joseph Beth Booksellers Justice Real Estate Keeneland Kentucky Housing Corporation Kentucky Utilities Company Lexington Diagnostic Center & Open MRI Louis Flower Power Shop Minuteman Press Lawrence and Anne Mountford Pain Management Medicine Powell Walton Milward, a division of J. Smith Lanier & Co. Mr. Joseph Minor Mrs. Louise Parker RealLife Radio Rodes Family Betty & Warren Rosenthal Stewart Home School
Stoll Keenon Ogden PLLC Tops Marketing University of Kentucky College of Nursing Faye and Mike Whitley WTVQ FRIENDS OF NIGHT OF HOPE Atchison Heller Construction Co. Roger Kirkpatrick Interior Design Mr. and Mrs. Wm. James Sprow Mrs. Frederick Van Lennep
Learn more about the Hope Center online at www.hopectr.org or by calling (859) 252-7881.
THIS IS AN ADVERTISEMENT
how to bail yourself out without getting soaked. CELEBRATING
50
YEARS OF LEADERSHIP IN LAW.
13
14
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
Tobacco settlement funds could take a big hit if arbitration board ruling stands By Tim Thornberry CONTRIBUTING WRITER
K
entucky, along with five other states, could lose a substantial amount of its annual portion of tobacco settlement funds, after a September ruling by an arbitration board that the states were “non-diligent” in requiring escrow payments. Roger Thomas, executive director of the Governor’s Office of Agricultural Policy (GOAP), recently testified in front of the Interim Joint Committee on Agriculture. He told members the office and the Kentucky Agricultural Development Fund (KADF) depended primarily on the Master Settlement Agreement (MSA) funds and emphasized how important the funds have been, not only to Kentucky agriculture but to the state as a whole. He also noted a long list of investments made by the KADF that have helped support farmers and benefited consumers. Because of the reinvestment of these funds made over the past 10 years, the state’s agriculture industry has benefited and diversified greatly. Thomas identified investments in the Kentucky Beef Network, the Kentucky Dairy Development Council and the Kentucky Horticulture Council, among others, as being very successful for thousands of farmers and farm families that have benefited from the programs funded by these organizations, all of which were created thanks to ag development funds. In addition to these more traditional programs, Thomas mentioned the new ventures
the KADF has supported as well as the $12 million that has been invested in the Kentucky Proud marketing program over the past decade. “If it were not for ag development funds, I believe [Agriculture] Commissioner [James] Comer would be the first to tell you that the Kentucky Proud program would not be and could not be the program that it is today,” he said. The more than $200 billion settlement, the MSA, was reached in 1998 among 46 state attorneys general, five U.S. territories and the District of Columbia and the country’s largest tobacco companies to recover health care-related costs and rewrite tobacco marketing
“If it were not for ag development funds, I believe [Agriculture] Commissioner [James] Comer would be the first to tell you that the Kentucky Proud program would not be and could not be the program that it is today.” ROGER THOMAS EXECUTIVE DIRECTOR OF THE GOVERNOR’S OFFICE OF AGRICULTURE POLICY
guidelines. The money was to be paid over a 25-year period. For the original participating tobacco companies, that meant annual payments based on each company’s market share in the neighborhood of nearly $10 billon. Many states opted to put their shares into general funds. Kentucky leadership, however, decided half of this money should go back into agriculture to help farmers move away from a tobacco economy and into a more diversified agriculture environment. With that, GOAP deals primarily with that diversification effort and oversees the KADF, the fund that receives those agriculture-related MSA dollars. The agreement, through a “model statute,” mandated non-participating tobacco companies to make escrow payments based on their annual sales in states that had participated in the settlement. Despite all the successes achieved by agricultural investments, Thomas told committee members challenges were forthcoming this year. “I think we would all agree that as we look forward, the federal programs, the federal support for agriculture, will be diminished. I think that’s the optimistic way of saying it,” he said. Thomas mentioned the likely end of direct payments after a new farm bill is passed. He also mentioned that next year farmers will be receiving their last tobacco transition payments. Those dollars were paid to tobacco quota owners due to the demise of the federal quota system in 2004.
“I think it’s easy to see and determine that federal monies coming to Kentucky agriculture in the way of incentives or program payments are going to be much, much less in the future than they have been in the past,” Thomas said. But it is the possibility of losing some or all of those MSA funds for the coming year that could prove to be the most detrimental to farmers in this state. Thomas told the committee the loss of those funds could have a very dramatic effect on the KADF and the programs it supports. “It’s still too early to say what that means for 2014. We won’t know until March 2014 what the payment to Kentucky and the other states will be for their MSA payments,” he said. In 2013, the state received more than $100 million, and an anticipated $90 million was expected in 2014, an amount that has been figured into the current state budget. The amount that will be lost, if any, has yet to be determined. “It all depends on these various state MSA courts and what their rulings are on motions to vacate. It could be $45 million, it could be $5 million — it just depends on the actions of the state MSA courts.” Thomas added that there is even a possibility that the state’s payment due in March 2014 will not be reduced, depending on the timeliness of the court actions. Kentucky officials have said the state was diligent in its efforts to comply with the model statute and the ruling is being appealed. A decision is not likely until spring. BL
Tobacco farmers and banks could lose out due to congressional inaction By Tim Thornberry CONTRIBUTING WRITER
A
s tobacco farmers move into the selling part of the growing season, they are also moving into the final year of the Tobacco Transition Payment Program (TTPP). In 2014, tobacco quota owners will receive the 10th and final payment brought about by the 2004 federal quota buyout. According to the USDA, the program provides annual transitional payments for 10 years to eligible tobacco quota holders and producers. The payments, which came about to help tobacco farmers make the transition into a free market system, began in 2005 and continue through next year. Payments are funded through assessments of approximately $10 billion on tobacco-product manufacturers and importers. The fact that the money does not come from the federal government by way of taxes has many tobacco farmers confused as to why those payments may now be reduced due to the effects of sequestration. In late November, the USDA’s Farm Service Agency (FSA) released a reminder to farmers and ranchers who participate in FSA programs to plan for these automatic reductions. “The Budget Control Act of 2011 (BCA) mandates that federal agencies implement automatic, annual reductions to discretionary and mandatory spending limits. For mandatory programs, the sequestration rate for FY2014 is 7.2 percent,” noted the release.
Kentucky Farm Bureau Federation President Mark Haney said in an audio posting on the agency’s website that the announcement of the TTPP reductions was a surprise. “The money is being held by the federal government through a trust fund, and it was really to facilitate the process. It certainly was not a budgeted item that would fall under sequestration,” he said. Haney added that like Conservation Reserve Program (CRP) payments, which were exempt from sequestration, TTPP should also be exempt, as well. He noted that the Office of Management and Budget estimates the TTPP payment to be about $960 million, of which $69 million could be cut. That could mean about $17 million in cuts for Kentucky quota owners. “When you are due the money, you expect to get paid,” Haney said. Hampton “Hoppy” Henton, a tobacco, corn and soybean producer from Woodford County, said the cuts were applicable to agricultural payments, including commodity loans, and more than tobacco producers are being affected by the sequester. After harvesting his corn, Henton took out a commodity loan that was reduced by 5.1 percent due to the demands of the BCA for 2013. “Now that’s a loan I have to pay back in nine months. It’s not like it is an expenditure in the classic way of thinking about it, but it is in the way the government thinks about it. It’s an outflow, and all outflows of funding were subject to the 5.1 percent reduction,” he said. Henton said the TTPP reduction was in
fact applicable to the 2013 payment, but that payment had already been made by the time the action had gone into effect. “As we go into 2014, it has been deemed that it will reduce the TTPP payment, the final payment,” he said. ‘That’s what the interpretation of the law is from the USDA.” But what the interpretation is and what farmers and farm organizations believe are two different things. “The argument that the tobacco community makes with quite some validity, is that the dollars that go to the farmers are not taxpayer dollars,” he said. “The government acts as an agent because the government issued the quotas … and had the records of who should or should not be paid; the government had the responsibility of making the payments.” Henton brought up a couple of questions that still remain. First, will the tobacco companies that pay the money — which makes up the TTPP payment — still pay in their statutory amount or will they pay less? “The general thinking is, no, they’ll pay in their full amount and the difference between the amount the companies pay in and the amount the growers and quota holders get back, that money will be retained by the government for, effectively, budget reduction,” he said. Just exactly how that will be done, Henton said, he doesn’t know, since the money would be coming from a trust, but it would be a drop in the bucket as far as a budget reduction is concerned. The other question is related to those
quota owners who opted to take a lump sum buyout. Not all growers went the 10-year payment route. Some received a one-time lumpsum payment by selling their interest to a third party through “successor-in-interest” contracts, according to the USDA. The agency notes that since 2005, third parties bought more than 170,000 TTPP contracts worth more than $3 billion. These third parties, financial institutions for the most part, in turn received the TTPP payments. Henton said the question remains what role those institutions will play in getting this rule reversed. “I think the financial institutions are having a hissy fit, because they don’t think they should be affected by sequester,” he said. Henton added that it will be interesting to see how these banks will handle the issue, saying the loss of an income stream by farmers may be minimized by what happens to large financial institutions. “But we should be just as concerned about farmers as those financial institutions,” he said. In addition to commodity loans and TTPP payments, other agricultural programs affected by the BCA include the Dairy Indemnity Payment Program, sugar loans, the Noninsured Crop Disaster Assistance Program, 2013 Direct and Counter-Cyclical Payments, the 2013 Average Crop Revenue Election Program, the 2011 and 2012 Supplemental Revenue Assistance Program, storage, handling and Economic Adjustment Assistance for Upland Cotton, according to information from the FSA. BL
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
International Book Project looks at different ways to deliver its mission By Jon-Michael Brothers
But Svarczkopf isn’t the only new face at
CONTRIBUTING WRITER
IBP.
W
hen Kristen Svarczkopf was in grad school, she was working with the U.S. Department of State at its embassy in Lusaka, Zambia, helping exceptional Zambian students apply to colleges and universities in the United States. There was one problem, however: The SAT and ACT prep books they had were severely outdated. Svarczkopf, having volunteered at the International Book Project (IBP) as an undergraduate at the University of Kentucky, reached out to the then-director of IBP and funded a shipment of updated books to the American library in Zambia, where many students were studying. “As always, IBP came through,” she said. Flash forward just a few years and Svarczkopf herself is now executive director at IBP. She began work on Nov. 18, soon after the previous director accepted a position at another company. Despite being new, Svarczkopf, 27, firmly believes in the project’s objective. “IBP’s mission is promoting literacy in the developing world,” she said. “So, put simply, we ship books. I think there are about 775 million people in the world who are illiterate, two-thirds of whom are women. It’s the bridge from misery to hope, literacy for these people. It’s a way to help people lead healthier, wealthier lives.”
Chassity Neckers, 25, became the director of development just a couple of months ago. Though the annual budget for IBP is more than $4 million, Neckers assures that the distribution between missional and administrative costs is still in line with the initial philosophy of founder Harriet Van Meter. “What she wanted was the most money possible going to the mission, and we feel the same way about it,” Neckers said. “When you consider the cost of shipping a book, or shipping a box of books or a palette of books, it is quite expensive,” she added. “Ninety-three percent of our budget goes to our mission, and the other 7 percent goes to administrative costs, which is a pretty odd balance.” IBP ships book orders all over the world in one of three sizes. The small shipments, known to staff as “the hallmark of IBP,” are boxes containing up to 35 pounds of books, which are usually sent to the most remote areas. Then there are pallets, which can hold anywhere from 700 to 1,000 books. Lastly, there are the sea containers, which hold 10,000 to 40,000 books. IBP recently sent a sea container to Thailand and have plans to send shipments to both Myanmar and Sierra Leone. But Lexington isn’t a port city, so sea containers can be very expensive to ship. Looking to the future, IBP plans to position themselves firmly in the world of e-readers, with
PHOTO BY EMILY MOSELEY
International Book Project's new Development Director Chassity Neckers (left) and new Executive Director Kristen Svarczkopf sit in the organization's Delaware Ave. used bookstore.
the hope of reducing those shipping costs. “When [devices like Kindles reach a] tipping point, hopefully we can run a couple of pilot programs and see what kind of impact we can have,” Svarczkopf said. “In particular with Amazon, it’s becoming more popular. They actually have a platform called Whispercast that lets you manage hundreds or thousands of devices over the same platform. I
think it’s definitely the future of reading, and we want to be a part of it and make sure we’re ahead of the curve.” In addition to having a used bookstore at its facility on Delaware Avenue, IBP also coordinates several events. They are currently running a program called Bag Your Books, in which various locations across Lexington encourage book donations by providing potential donors with marked bags, each of them etched with the phrase, “This Bag Changes Lives.” Another is called Books as Bridges, which is a pen-pal program through which IBP connects Kentucky students with international students. Neckers described the program as a cultural exchange. “It’s just a way to get students excited about reading and about learning and about learning about other cultures,” she said. The critical factor that lured Svarczkopf into first becoming an unpaid volunteer at IBP more than five years ago was that everybody was so clearly dedicated to the mission of promoting literacy. One of her favorite stories she heard during those volunteer days is one that helps bring to the forefront what IBP hopes to achieve. Years ago, there was a shipment IBP sent in which the resident’s address was simply “The House Behind the Big Tree.” Despite initial skepticism, the books arrived at their rightful destination. “And everyone was so excited, because that’s what IBP is about,” Svarczkopf said. “What we say is if you have a mailing address, we can get books to you, so we’re really trying to focus on getting books to places in the remotest areas, and the places with the greatest need. So I think that’s a really special story that I’ve always tried to keep in mind.” BL
All your business lending solutions...right here.
%*
4.25
APR
Rate is fixed for 10 years No pre-payment penalties
Your savings federal insured to at least $250,000 and backed by the full faith and credit of the United States Government
National Credit Union Administration, a U.S. Government Agency
APR=Annual Percentage Rate. This credit union and its policies comply with the Equal Credit Opportunity Act. Rates and offers subject to change. Limited time offer. Offer subject to underwriting and approval. Federally Insured by NCUA
15
Contact
Perry Dunn Cooperative Business Services Partner 859.543.2507 or 859.338.1386
16
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
Beer Cheese Trail launched where the popular dish is said to have originated By Rachel Gilliam CONTRIBUTING WRITER
A
t Hall’s on the River in Clark County, customers are clamoring for the beer cheese. Located on the Kentucky River, near the site of the former Allman’s restaurant — where tradition has it beer cheese was served for the first time — beer cheese has long been a staple on the Hall’s menu. Now, with the newly minted Beer Cheese Trail, the Clark County delicacy has proven more popular than ever, according to manager Ryan Curry. “There’s a lot of curiosity about it,” Curry said. The Beer Cheese Trail became official Oct. 25, thanks to the work of Nancy Turner, Winchester-Clark County’s tourism director, and her staff. Turner was familiar with the Kentucky Bourbon Trail, which encourages tourists to visit bourbon distilleries throughout the state. Kentucky Bourbon Trail Passports are available at all eight distilleries on the tour, and if stamps are collected at each site, visitors can receive a free shirt. Clark County’s Beer Cheese Trail functions largely the same — visit one of five restaurants with an original beer-cheese recipe; sample the cheese, either as an appetizer or part of a main dish; and receive a stamp on a Beer Cheese Log. After a log is stamped at all Trail restaurants, it can be returned to Winchester-Clark County Tourism for a shirt. “All five of these beer cheeses are really good, and they’re different. If you’re not from here, you get a good idea of what beer cheese is,” Turner said. At JK’s at Forest Grove, Greg Keller said the Beer Cheese Trail opening coincided perfectly with the addition of beer cheese to his restaurant’s menu. Keller and his wife, Alice, operated JK’s Cafe on Main Street in Winchester, Ky., for several years before opening JK’s at Forest Grove in the Boonesboro area of Clark County in October 2012. After the move, Keller said they wanted to offer some new items on the menu and began trying various beer-cheese recipes. Eventually, an employee shared an old family recipe with a secret ingredient, something Keller said, “no one would ever think to put in beer cheese.” Thanks to the Beer Cheese Trail, and new beer-cheese burgers, Keller said he has been able to promote the new restaurant and its offerings better. “We’ve seen a lot of people from out of town, from in town. We’ve had people from Cincinnati, North Carolina — just some different tourist-type people, kind of like the Bourbon Trail,” Keller said. Since the Kellers are new to beer cheese, they are hopeful that the Beer Cheese Trail will help generate business. Both Curry and Keller said the real appeal of the Beer Cheese Trail is the ability to use it in marketing, and for both established beer-cheese makers like Hall’s and those still hoping to become established, like JK’s. “It’s just a great idea, good for business and good for the area,” Curry said. According to Turner, the Beer Cheese Trail was designed to not only spur tourism, but also economic development. Restaurant owners have a new tool they can use when try-
ing to appeal to customers. So far, it seems to be working. Several people have already completed the trail, including out-of-town visitors. Teri and John Hass of Burlington, Ky., completed the trail and were so impressed that they plan to bring their antique car club to Clark County so they can try to earn T-shirts as well. On opening day, Hank Phillips, Kentucky’s deputy commissioner of travel, joined a group of Clark County residents in completing the trail. Thirteen people participated in the opening tour and are helping to promote it to others. The trail has also received coverage in national media outlets. “I hope this continues and grows and we add locations,” Turner said. Right now, participation is limited to restaurants that have their own original beercheese recipe. The trail may be expanded, however, to include stores and restaurants that don’t make their own beer cheese but have beer-cheese items on the menu. Both JK’s and Engine House Deli serve beer-cheese burgers, and Engine House has a beer-cheese chili dog. “We want it to be all things beer cheese,” Turner said. BL
The Beer Cheese Trail The five restaurants currently participating on the Beer Cheese Trail: DJ’s Bar & Grill 836 Bypass Rd. Winchester, KY 40391 Engine House Deli 9 W. Lexington Ave. Winchester, KY 40391 Hall’s on the River 1225 Athens Boonesboro Rd. Winchester, KY 40391 JK’s at Forest Grove 4636 Old Boonesboro Rd. Winchester, KY 40391 Woody’s Sports Bar & Grill 923 Bypass Rd. Winchester, KY 40391
(Top) Alice and Greg Keller, owners of JK's at Forest Grove, have enjoyed a boost in business since the launch of Clark County's Beer Cheese Trail. The restaurant offers a beer cheese burger. (Left) Joann Thornsberry of JK's at Forest Grove brought her family's beer cheese recipe to the restaurant. Owner Greg Keller said Thornsberry's family recipe includes a secret ingredient others wouldn't think to put in Clark County‘s native dish. PHOTOS BY SARAH JANE SANDERS
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
17
PHOTO BY ROBBIE CLARK
Artwork and dedicated gallery spaces are part of the makeup of Mix on Vine, which also features a hair and nail salon, coffee and snack bar, and dance and workout studios.
Mix on Vine offers one-stop shop for beauty, fitness and art By Abby Laub CONTRIBUTING WRITER
A
t first you might mistake an aerial yoga class at Mix on Vine for trapeze artist practice. “At first, we were all scared to death to try it,” said Kasey Hall, Mix on Vine’s creative director. “Once you get into it and get comfortable, you’re flipping all over the place and going, ‘Look what I figured out how to do today.’ There’s definitely a learning curve, but you would be shocked at how quickly it comes.” Lexington’s burgeoning fitness community gained not only aerial yoga, but classes like “Cardio Country” and “Girls on Fire,” all in the same facility that also features a contemporary art gallery, a blowout bar, hair and makeup salon, manicures, coffee and healthy snacks, and lounge area. Mix on Vine is comprised of Bloom, a full-service beauty facility; Vibe, the group fitness and dance studio; Fly, the aerial yoga and TRX suspension studio; Hang, the art gallery portion that is all throughout the building; and Sip, a coffee and snack shop featuring sweets and a special menu from Mousetrap. The decor is clean, white and modern, yet warm and inviting. Owner Karen Piazza said the concept is like nothing else in the country. She admitted to disliking the term “salon” and called her business a “street-level beauty loft.” Piazza, a Lexington native, and business partner Lydia Nemeth opened the facility earlier this year and are busy fine-tuning the 9,200-square-foot space that formerly was
home to the Lexington Convention and Visitors Bureau. After living in Miami for most of her professional life and working as a spa and fitness industry professional for many years (she designed, opened and operated spas for luxury real estate developers and hotels), Piazza’s move to Lexington left her looking for something more. She said her social life in Miami often took her to get her nails, hair and makeup done, but to get anything accomplished in Lexington required “hopping all over town,” never mind squeezing in a workout. “I started out thinking that maybe I’d open a bohemian kind of workout studio based on a concept that I loved in Miami, with a hair salon so that you can workout and get your hair and nails done all under the same roof,” she said. Piazza and Nemeth, who formerly worked in another salon, found a space with the help of Piazza’s husband, a commercial real estate developer, and started finding staff and conceptualizing Mix on Vine. Piazza hopes to see people making connections, building relationships and using the space as a one-stop shop for social, beauty and fitness wishes. She said the central location with ample parking makes it convenient. “We aren’t a fitness club; it’s a boutique concept, so all of our instructors are more fitness boutique types of instructors,” Piazza said. “And because we are so focused on dance in Vibe, we actually went and found dancers, and Kasey [Hall] has taught them how to teach.” Hall choreographed the Cardio Country routines (think Zumba, only with country music) and did heavy recruiting of the best fitness instructors. The staff includes University of Kentucky dancers, an Olympic hopeful, an internationally renowned fitness instructor, and former Russian ballet dancers. On top of all of this, Piazza hopes to eventually form a nonprofit organization housed in Mix that works with at-risk children, called “Sprout.” She also sees the extra space being used to train fitness instructors, hold social events, host local philanthropic boards and more. Piazza also would like to form family fitness experiences, as well as equine hospitality packages for horse industry visitors to Lexington, and expand the art studio. “We’re just coming out of the box, and we have to walk before we can run,” she said. “There is no other concept like this in the U.S. It is ‘come as you please, pay as you go’ – we are an a la carte facility.” Mix on Vine is located at 301 E. Vine St. For more information on the facility’s multiple offerings, call (859) 687-0630 or visit www.mixonvine.com. BL
Creative director Kasey Hall demonstrates aerial yoga movements. PHOTO BY ROBBIE CLARK
Mix on Vine has numerous hair and beauty features, as well as a coffee and snack bar. (Far left) From left, Mix on Vine creative director Kasey Hall, marketing director Katherine Blake, co-owner Lydia Nemeth, and director of beauty and fitness programming Hannah Arch, in front of artwork by Maui Crane.
18
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
BizList
For questions regarding the BizList, please contact: Sharon Lee Metz at sharon@bizlex.com
Accounting Firms Ranked by Total Number of Certified Public Accountants on Staff in 2012 Current Rank
1
Firm Name Address Phone Website
No. of Licensed CPAs in Lexington
% of Business
Total Licensed CPAs in Firm
% of Clients
Tax
Accounting/ Financial Reporting
Auditing
Consulting
Other
Individuals
Businesses
Other
Top Local Official/Title
Year Founded Locally/ Headquarters/ No. of Local Offices
Dean Dorton Allen Ford, LLC 106 West Vine St., Ste. 600 Lexington, KY 40507 859-255-2341 www.deandorton.com
45
74
39%
14%
21%
25%
1%
15%
70%
15%
David C. Bundy (President & CEO)
1979/ Lexington, KY/ 2
2
Blue & Co., LLC 250 West Main St., Ste. 2900 Lexington, KY 40507 859-253-1100 www.blueandco.com
23
144
18%
NA
31%
51%
NA
NA
NA
NA
Gregory C. Mullins (Director-in-Charge)
1918/ Carmel, IN/ 8
3
Crowe Horwath, LLP 144 North Broadway, Ste. 300 Lexington, KY 40507 859-252-6738 www.crowehorwath.com
22
1,024
9%
66%
13%
11%
9%
20%
71%
9%
Steve Jennings (Partner)
1951/ Oak Brook, IL/ 26
4
Ray, Foley, Hensley & Company, PLLC 230 Lexington Green Circle, Ste. 600 Lexington, KY 40503 859-231-1800 www.rfhco.com
22
22
37%
12%
45%
5%
1%
21%
69%
10%
Jerry W. Hensley (Managing Partner)
2004/ Lexington, KY/ 1
5
Mountjoy, Chilton, Medley, LLP 333 West Vine St., Ste. 1000 Lexington, KY 40507 859-514-7800 www.mcmcpa.com
18
124
19%
3%
70%
8%
0%
5%
63%
32%
E. Shane Satterly (Partner)
1980/ Louisville, KY 3
6
Miller, Mayer, Sullivan & Stevens, LLP 2365 Harrodsburg Rd., A-100 Lexington, KY 40504 859-223-3095 www.mmssllp.com
16
16
30%
25%
30%
5%
10%
20%
70%
10%
John Huston (Managing Partner)
1973/ Lexington, KY/ 1
7
Barr, Anderson and Roberts, PSC 2335 Sterlington Rd., Ste. 100 Lexington, KY 40517 859-268-1040 www.barcpa.com
13
13
71%
13%
0%
16%
0%
48%
34%
18%
Christopher E. Anderson (President)
1976/ Lexington, KY/ 1
8
Radwan, Brown and Company, PSC 2421 Members Way Lexington, KY 40504 859-233-4146 www.radwanbrown.com
12
12
NA
NA
NA
NA
NA
NA
NA
NA
Troy Mulligan (Partner)
1987/ Lexington, KY/ 1
9
Hisle & Company 277 East High St. Lexington, KY 40507 859-259-3403 www.hisle-cpa.com
9
9
63%
5%
20%
10%
2%
53%
46%
1%
Kent Hisle (Managing Partner)
1975/ Lexington, KY/ 1
10
Fister, Williams & Oberlander, PLLC 401 Lewis Hargett Circle, Ste. 110 Lexington, KY 40503 859-219-0098 www.fwpllc.com
7
7
40%
15%
20%
20%
5%
30%
60%
10%
Louis E. Fister (Managing Partner); Brad P Oberlander; Jim Mike Williams
2000/ Lexington, KY/ 1
11
Kring, Ray, Farley & Riddle, PSC 444 East Main St., Ste. 203 Lexington, KY 40507 859-231-0541 www.krfrcpa.com
7
7
50%
10%
30%
5%
5%
40%
55%
5%
Austin T. Kring (Managing Shareholder)
1973/ Lexington, KY/ 1
12
Donald & Company, PSC 2410 Greatstone Point Lexington, KY 40504 (859) 223-3318 www.donaldandco.com
5
5
50%
25%
0%
20%
5%
59%
36%
5%
Douglas I. Donald (President); Linda S. Donald (Managing Shareholder)
1986/ Lexington, KY/ 1
13
Duncan, Smith & Stilz, PSC 824 Euclid Ave., Ste. 200 Lexington, KY 40502 859-268-2221 www.dssky.com
5
5
50%
25%
20%
0%
5%
70%
25%
5%
Stewart A. Smith (President)
1978/ Lexington, KY/ 1
14
Addington & Mills, PSC 3292 Eagle View Lane, Ste. 340 Lexington, KY 40507 859-252-4431 NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Donald R. Addington (President/Managing Shareholder)
1940/ Lexington, KY/ 1
15
Dulworth, Breeding, Karns & Pleasant, LLP 1221 Old Lafayette Ave. Lexington, KY 40502 859-259-1072 www.dbkcpa.com
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
James K. Pleasant (Partner)
1989/ Lexington, KY/ 1
16
PricewaterhouseCoopers, LLP 448 Lewis Hargett Circle, Ste. 110 Lexington, KY 40503 859-255-3366 www.pwc.com
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Phillip Gregory (Managing Partner); Nick Walker (Kentucky Practice Leader)
1998/ New York, NY/ 75
17
Stivers and Associates, PSC 190 Market St. Lexington, KY 40507 859-254-4427 www.stiverspca.com
NA
NA
NA
NA
NA
NA
NA
NA
NA
NA
Jimmy E. Webster (President/Managing Shareholder)
1969/ Lexington, KY/ 1
Source: Information was obtained from representatives of listed companies, firm websites, and the Business Lexington survey. List was restricted to accounting firms located in Lexington. Note: In the event of a tie based on the number of licensed CPAs in Lexington, rankings were based on the total number of licensed CPAs in the firm. If a firm did not disclose this latter information, firms were ranked in alphabetical order. Key: CPA=Certified Public Accountant WND=Would Not Disclose NPR=Not Previously Ranked. If you want to be added to our database, please follow this link, https://secure.datajoe.com/url/?gj1k1C4mc
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
19
Shopping local is the best present for Lexington By Sarah Razor GUEST OP-ED
W
hat would happen if we all committed to shifting just 10 percent of our holiday budget to an independent business instead of a chain restaurant or big-box store? It would mean instead of scrambling for parking and enduring long lines with the masses at a big-box store, you could get a leisurely coffee and a gift card at A Cup of Commonwealth, Common Grounds or North Lime Coffee and Donuts. You could stop in to pick up some books and a T-shirt at Morris Book Shop, or visit The Lexington Angler to get a certificate for fly-fishing lessons. In many cases, you will find a knowledgeable staff person or even the storeowner available to help you select that perfect gift. It’s a far cry from pushing through the masses at an early bird doorbuster sale, refuting the constant requests to sign up for a store credit card and wading through aisles full of stuff that you will likely put in a yard sale in the summer of 2015. While big-box stores and chains can usually provide the lowest price because of the economies of scale they produce, the price tag you don’t see is the cost to our community. Area businesses invest more into our local economy in the form of profits paid out to local owners, wages for local workers and the procurement of goods and services for operations and resale. This local purchasing power translates to more opportunity for local accountants, attorneys, architects, construction crews, insurance brokers, IT experts, marketing and advertising agencies and many other businesses that provide products and supplies that help churn one another. More tax dollars stay in our area, and local businesses usually are strong supporters of local nonprofit organizations, providing donations for silent auctions, sponsorships and partnerships. In 2012, the American Booksellers Association sponsored a study in Louisville to compare the impact of local businesses to their chain counterparts. For every $100 spent at a local, independently owned retailer in Louisville,
Business by the numbers.
Business Lexington magazine proudly presents its fourth annual Book of Lists, the only resource guide to business and industry rankings in the Bluegrass area. A ready-made reference tool for the Bluegrass business community—the Book of Lists combines a year’s worth of Business Lexington’s most statistically informative feature into one glossy-cover publication, which will be seen by thousands of corporate and community decision makers across the state. The Book of Lists offers a wealth of information reaching a very high percentage of Lexington’s business community, and its year-long shelf life makes it a powerful way to get your message across to potential customers.
BusinessLexington 2014 BOOK OF LISTS INSERTION DEADLINE IS JANUARY 10th.
Call 859.266.6537 or email advertise@bizlex.com for advertising information.
$55 of all revenue was reinvested in the local economy, compared to $13.60 in reinvested revenue from chain competitors. For local Louisville restaurants, the results were even greater. Those surveyed returned 67 percent of revenue locally, compared to the 30.4 percent of reinvestment returned to the local economy by chain competitors. Studies conducted in nine other cities over the past 10 years have yielded very similar results. While chains and box stores may have more variety of basic goods, local businesses are the primary outlet of locally produced inventory. Shopping at local businesses is one of the best ways to incubate the efforts of local entrepreneurs that produce music, books, media, food, clothes, decor and art. Big-box stores and chain selection is determined by a few powerful corporate buyers likely based in a faraway headquarter office, rather than hand selected by someone who knows area trends and taste. Shopping local requires just a small shift in mindset. Need a new outfit for a holiday party? Instead of the mall, try Bella Rose, Howard and Miller, the Black Market or Bluetique. Book your annual holiday meal with friends at one of Lexington’s amazing local restaurants like Bourbon n’ Toulouse, Stella’s Kentucky Deli, Smithtown Seafood or Athenian Grill. Good Foods Co-Op on Southland Drive is a wonderful place to buy an organic pumpkin pie and a turkey raised in Harrodsburg for family dinners. You can send Santa to Barney Miller’s or Pieratt’s for electronic gifts, or try one of the local nurseries or a charity-sponsored tree lot for a live Christmas tree. Celebrate your shopping success by heading down to the Chevy Chase Inn for a cold pitcher of beer, or visit one of Lexington’s amazing craft breweries like Country Boy, West Sixth or my favorite, Blue Stallion Brewery. Local First Lexington has several resources available to help you find local restaurants and businesses that will make your holiday purchases special not only to the recipient, but thoughtful for your community as well. BL Sarah Razor is the author of the Chevy Chase Inn: Tall Tales and Cold Ales from Lexington’s Oldest Bar.
20
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
BusinessLeads Bids LFUCG is seeking bids for Fiber Optic Cable Installation and Repair. Contact 859-2583320. Request No. 161-2013, deadline 12/23/13. LFUCG is seeking bids for Secondary Digesters Floating Cover Demo/Removal. Contact 859-258-3320. Request No. 160-2013, deadline 12/23/13. LFUCG is seeking bids for Arch and Column Replacement – Community Corrections Entrance. Contact 859-258-3320. Request No. 159-2013, deadline 12/30/13. LFUCG has issued a Request For Proposals for a Legacy Trail Interpretative Signage Project. Contact 859-258-3320. Request No. RFP38-2013, deadline 12/30/13. Visit https://lfucg.economicengine.com for full list of Lexington bids and RFPs.
Conventions Jan. 2 – 5
USA Track and Field, Track and Field Clinic. Rooms at the Clarion Hotel. 150 people expected.
Jan. 6 – 13
US Equestrian Federation, 2014 Annual Meeting at the Hyatt Regency Lexington. 2,750 expected.
Jan. 7 – 9
Kentucky Society of CPAs, Vern Hoven 2Day Federal Tax Update at the Campbell House. 187 people expected.
Jan. 15 – 18
Kentucky Cattlemen’s Association, 2014 Convention at the Hyatt Regency Lexington and the Lexington Center, Rupp Arena. 1,400 people expected.
Jan. 23 – 23
Kentucky Farm Bureau Independent Insurance Agents Association, KFB Young Farmers Leadership Conference at the Griffin Gate Marriott Resort and Spa. 550 people expected.
Commercial Real Estate Transfers Square Footage Given If Available Auto Service Garage | 1512 Pleasant Ridge Drive, 16,030 sq.ft., $137 per foot, $2,200,000. Auto Sevice Garage | 1404 Versailles Road, 5,256 sq.ft., $75 per foot, $396,000. Convenient Food Market | 2399 Richmond Road, 2,277 sq.ft., $220 per foot, $500,000. Kwik Lube | 715 N Broadway, 1,380 sq.ft., $120 per foot, $165,000. Nursing Home | 3576 Pimlico Parkway, $7,500,000. Parking Lot or Garage | 1110 Industry Road, $382,000. Religious | 1533 Versailles Road, $77,000. Retail | 1213 Winchester Road, 6,864 sq.ft., $117 per foot, $800,000. Retail | 191 Kentucky Avenue, 2,244 sq.ft., $129 per foot, $290,000. Warehouse | 350 Blue Sky Parkway, 3800 sq.ft., $74 per foot, $280,000. Warehouse | 1588 Delaware Avenue, $380,000.
Commercial Building Permits Hutton Construction Inc, retail sales general, 160 East New Circle (TKD Holdings), 6,895 sq.ft., $578,000. Mason and Hanger Group, remodeling general business office, 300 West Vine Suite 1300, (Mason and Hanger), $178,864. Back Construction Inc, remodel general business office, 466 East High Street, (Slade Investments LLC), $100,000. Codell Construction Co, remodeling local government building, 1137 Centre Parkway (Lexington Housing Authority), $17,400,000. Coppler Construction Company Inc, remodeling warehouse, 533 Buck Place (Cox Interiors), $100,000. Jarobe Construction Inc, remodeling general business office, 2358 Nicholasville Road (Spa Nails I), $56,000. Torcom Construction LLC, retail sales remodeling, 161 Lexington Green Circle Suite B-18 (Francesca’s), $101,000. Andover Construction LLC, apartment building remodel, 358 Duke Road (Andover Management Group), $140,000. Casey Creek Construction Inc, remodeling general business office, 333 West Vine Street Suites 700 and 800 (ARC Administrators), $232,000. Kebco Inc, remodeling general factory, 2651 Palumbo Drive Building 5 (Link Belt), $71,543.
New Business Licenses Auto Sales | Ultimate Auto Sales LLC, owned by Roberto Sosa Chavez, 1420 Delaware Ave., 859-368-7438. Bar | Tlc Miller LLC, owned by Steve Miller, 319A S. Limestone, 859-358-0009. Bar | Ygs La Frontera Corp, owned by Melanie Yahya, 367 E Main Street, 859-533-2856. Beauty Shop | Owned by Patricia J Woosley, 442 1/2 S Ashland Ave. Billing Service | Nexsyis Inc, owned by Bill Allen, 2425 Regency Rd., Ste. A, 317-5962500. Bloodstock Agent | Storm Ventures LLC, owned by Jane A Buchanan, 1731 Woodlark Ave., 516-428-7567. Caulking/Waterproofing | Professional Sealants, owned by Joseph Redman, 2431 Alexandria Pike, 859-363-7269. Child Care | Kiki's Kids LLC, owned by Samantha Adams, 7290 Lane Allen Rd., Lexington, Ky., 859-270-7101. Child Care Center | Imagination Station, owned by World Wide Care Group, 585 W Main St., 859-388-9008. Cleaning & Painting Restoration | Thoroughbred Fire, owned by Karen Covington, 516 Wellington Gardens Drive, 859-621-0088. Cleaning Services | Maxi Cleaning Service, owned by Juan Hernandez, 3797 Belleau Wood Dr.,. Concrete Finishers | Professional Concrete Finishing, owned by William L Beams, 2990 Summersville Rd., 270-932-3284. Construction | Chris Jackson Builders, owned by Chris Jackson, 3028 Charleston Gardens, 859-317-0488. Construction | D And H Construction, owned by Darinel Hernandez, 1337 Devonport Dr., Apt. #3, 859-327-0683. Construction | EF Contracting LLC, owned by Ernest E Franklin, 931 Bordallo Dr., 859-6295238. Construction/Contracting | C3 United Solutions LLC, owned by Steven P Waldron, 880 Sparta Court, 859-388-2012. Consultant/Births | Evidence Based Birth LLC, owned by Rebecca Dekker, 2340 Tucson Drive, 859-221-6038. Consulting | Awesome Fellowship LLC, owned by Brian Ramey, 348 E Main Street, 859-421-1690. Consulting | John A Newman Consulting, owned by John A Newman, 2344 Old Hickory Lane. Consulting | Wyse Innovations LLC, owned by Joe Wyse, 1500 Bull Lea Rd., Ste. 202, 859-948-4716. Continuing Ed & Consulting | Synergy Coach LLC, owned by Larry J Jackson Jr, 826 Warfield Place, 859-421-2250. Contractor | Redlee Construction , owned by David Elder, 800 Stonecreek Pkwy., Ste. 5A, 502-912-3777. Correctional Health Care | Correct Care Solutions, owned by Gerard Boyle, 3111 Spurr Rd., 615-324-5755. Cosmetologist | Melissa Hackney Inc, owned by Melissa Hackney, 2549 Regency Road, Ste. 102, 859-277-2759. Cycling Advocacy/Maintenance | Broke Spoke Lexington, owned by Shane Tedder and Andy Shooner, 501 W 6th St., Ste. 130, 513-582-8014. Datacam & Electrical | Summers Group Inc, 14951 N Dallas Pkwy., 972-387-3600. Dental Office | Brown & Valentine, owned by Angela V Brown, 3111 Wall Street, 859-3128825. Detailing Vehicles | Curtis Boys Detailing, owned by Ronald D Curtis, 1011 Contract St. #60, 859-396-2210. Development & Management | Community Care, owned by Christa White, 178 Community Way, 606-666-4351. Dinner/Entertainment | Lexington Dinner Train, owned by R J Corman, 150 Oliver Lewis Way, 866-801-3463. Distribution | owned by Tracy Williams, 3500 Warwick Drive 14, 859-272-9014. Electric | Bakers Electrical, owned by Nathan Baker, 502-550-9001. Engineering | Exact Elevation PLLC, owned by Adam B Mays, 2620 Calgary. Engineering | Jacobs Engineering Group, owned by John W Prosser Jr, PO Box 7084, 626-578-3500. Equine Therapy | Owned by Patricia A Mitchell, PO Box 5035. Farm | Owned by Edith Kraft Dahlberg, 3-1st National Plaza #215. Film Production | Koat Films LLC, owned by Addam Carson, 859-955-0625. Financial Services/Bookkeeping | Hiatt Bookkeeping LLC, owned by Lesley Hiatt, 211 2 Inverness Drive, 859-640-5867. Firearms Training | Wilson Concealment, owned by Sara L Wilson, 211 E Lowry Lane. Fitness Center | Des Fitness LLC, owned by Russell Des Cognets III, 2909 Richmond Rd., Ste. 130, 859-266-0030.
Fitness Service | Exalted Fitness, owned by Tara Johnson, 861 S Broadway, 859-6085518. Flooring Resurfacing | J Wesselman Specialty, owned by Jeremy Wesselman, 173 Pelly Rd., 859-212-0959. Food Truck | J I R L International, owned by Lewis E Beckman, 539 Turley Dr., 606-2244369. Frozen Yogurt/Smoothies | Red Mango, owned by Islam Masoud, 2304 Sir Barton Way, Ste. 195, 859-373-0099. General Construction | Adira Construction Inc, owned by Clifford D Krebs, 1512 Technology Dr., Ste. 103, 757-673-0808. General Contractor | Burns & McConnell, owned by Greg Graves, 9785 Maroon Cr., 303-474-2246. General Contractor | Re Moore Construction In, owned by Ronald E Moore Jr, 678-5233786. Hair Salon | Wild Blue Hair Salons, owned by John L Wood, 116 Market Place Drive, 859245-7288. Higher Education | Oklahoma Wesleyan, owned by Everett Piper, 2201 Silver Lake Rd., 918-335-6238. Home Remodeling & Construction | Jify Renovations, owned by Arlando Morris Sr, 212 Tan Bark Dr., 859-907-9182. Home Renovation | 901 N Limestone St. LLC, owned by Griffin Van Meter, 804 N Limestone Street, 859-258-2244. Hotel | The Campbell House, owned by Ike Thrash, 1375 S Broadway, Lexington, Ky., 205-313-9174. Hotel | The Campbell House, owned by James N Hines, 1375 S Broadway Lexington, Ky., 205-313-9174. HVAC | Climate Pro Heating, owned by Jason Akemoh, 606-287-2337. Insurance Agency | At Your Service Insurance, owned by Ashley Escobar, 128 Burt Road, 859-277-7799. Insurance Agency | Dawn T Stice Insurance, owned by Dawn T Stice, 121 Malabu Drive, 859-271-2277. Insurance Personal Lines | Universal Adjusting, owned by Sean Downes, 954-958-1200. Insurance Premium Tax | Penn Millers Insurance, 72 N Franklin St., 215-640-2434. Interior Design/Online | Virtual Decor By Elaine, owned by Sandra S Neville, 859-2237293. Internet Firearms Sale | Bearcat Firearms LLC, owned by William Bell Wynn Jr, 3475 Kenesaw Dr., 859-230-2626. IT Disaster Recovery | Tactical IT Group LLC, owned by Jeffrey D Propps, 305 Cassidy Avenue, 859-363-5370. Laundromat | Owned by Alfredo Ruiz, 859338-8986. Massage Therapy | Suzies Massage Therapy, owned by Suzanne L Pond, 101 Romany Rd., 859-552-4023. Medical Management | Medical Practice, owned by Jane Winterton OConnell, 2285 Executive Dr., 859-294-0130. Medical Transcription Service | Superior Global, owned by Todd Vick, 2248 Kenwood Dr., 972-526-1912. Medical Device Sales | Apollo Endosurgery, owned by Dennis McWilliams, 1005 Tates Creek Road, 512-279-5188. Medical Devices | Maquet Cardiovascular US, owned by Raoul Quintero, 45 Barbour Pond Dr., 973-709-7751. Medical Management Services | McKesson Health, owned by Melissa Wu, 595 Emery Court, 415-983-9334. Medical Spa Services | A Beautiful You LLC, owned by Kim Combs, 3320 Clays Mill Rd., Ste. 113, 859-296-4968. Market Consultant | Agri Ingredients LLC, owned by John D Franklin, 3937 Yellowwood Trace, 502-664-9879. Nanny | Owned by Chantal Guidi, 3327 Nevius Drive, 813-480-2512. Ortho Surgean Physician | Integrity Orthopaedics, owned by Anup S Chattha, 1745 Alysheba Way, Ste. 140, 859-264-0277. Payment Processing | National Processing Comp, owned by Jim Oberman, 936 Winding Oak Trail, 513-900-6938. Personal Trainer | New Life Fitness, owned by Ryan Curtis Parker, 3845 Dylan Pl., 859-6085014. Pharmaceutical Sales | Lundbeck Pharmaceutical, owned by Lundbeck LLC, 4172 John Alden Lane, 847-282-1000. Photography | Flash Thompson, owned by Joseph Kevin Thompson, 185 Kentucky Ave., Apt #1, 859-576-5075. Photography | Owned by Nori Hall, 212 S Ashland Avenue, 859-269-2897. Private Club | Nathan Caulder American, owned by Joe Richards, 672 N Limestone St. Promotional Marketing | Promotional Assets LLC, owned by Nick Pfister, 925 Star Shoot Pkwy., 859-396-1273. Property Rental | Owned by James H Glass, 441 Barroway Lane, 859-361-0098. Real Estate | Deaton Enterprises LLC, owned by John D Nickels, 441 Lakeshore Drive,
859-576-7252. Real Estate | Farm Realty LLC, owned by Micahel Martin, 4600 Longbridge Lane, 859396-7064. Real Estate Rental | Starwood Properties LLC, owned by Matthew Guarnieri, 2016 Mercer Road, 859-699-8889. Real Property Management | Ran Dar Properties LLC, owned by Cloyd Morgan, Member, 300 W Vine Street, Suite 600, 859-223-4661. Rental | Brite Worx LLC, owned by Jordan Davies, 4134-A Aviator Rd., 859-576-3986. Rental Property | Mafasa LLC, owned by Naveed Ahmed, 106 Mountain View Court, 606-432-8112. Rental Real Estate | Maple Lane Enterprises, owned by H Steve Conboy, 1335 Harp Innis Road, 859-983-2116. Resale Antiques/Collectibles | Linda’s Cottage Antiques, owned by Linda Curtis, 1496 Leestown Pike, 859-254-0454. Research & Development | Directed Energy Inc, owned by Carol Wedding, 1500 Bull Lea Rd., Ste. 212, 419-536-5741. Restaurant | Bam Foods Lex LLC, owned by Mike Levy and Ryan Quinn, 2200 War Admiral Way, Ste. 195, 859-263-0144. Restaurant | Chen Osaka Inc, owned by Su Zhen Chen, 3805 Dylan Place, Suite 130, 859-296-2625. Restaurant | Garas Kabobs & More LLC, owned by Rahman Gara, 565 E New Circle Rd., #5, 859-299-4272. Restaurant | Is Construction, owned by Chad Colony, 2468 Nicholasville Rd., 479-3666103. Restaurant | La Bonita Novedades, owned by Gerardo Beltran, 2333 Versailles Rd., 859225-1929. Restaurant | Shakespeare And Co, owned by Edward Saad, 367 W Short Street, 859-3670413. Retail | Healthcare Uniforms, owned by Anita McDermott, 1164 Windburn Drive. Retail Cigarette Store | DYRW II LLC, owned by Robert Winslow, 148 W Tiverton Way, 617216-9734.
BUSINESS RETREAT or S F H INGLE AMILY
OME
85 Noble Oaks Dr. Lake Cumberland One of a kind 9-year old, 9 BR, 11BA lake front retreat. Custom built stone and brick on approx. 7 acres. Breathtaking frontage on the lake. Screen porch, fire pit, circular drive, wooded lot.
$895,000
PEPPER WOOLWINE
Realtor® E-PRO, ABR, SFR
859-327-1896 pepper@turftown.com
HoldTime.net Customized Messages... With Music... On Hold Beaumont Centre, Lexinton KY 40513
Professionally educate callers about your business while on hold. For free info call 859.223.4563 or email info@holdtime.net Mention this ad for a FREE demo.
801 Enterprise Dr. Lexington, KY
What no one ever tells you about caring for aging loved ones... Have you or someone you know had a family crisis that resulted in a need for in-home senior care. If so, a little planning and preparation can go a long way towards helping to minimize problems.
Low Cost, On-site Storage • Secure Locking Systems • Relocatable When Loaded (maximum weight 22,000 lbs.) • Clean, Dry and Wind Proof • Commercial Use
Call for our FREE report:
“The 4 Critical Things to Consider” 859-224-1124
www.comfortkeepers.com/office-405
859-255-6605 www.a1portables.com
JANUARY 2014
WWW.BUSINESSLEXINGTON.COM
Retail Optical | John G Roche Opticians, owned by John G Roche, 710 E Main St., 859-532-5070. Retail Pet Food | M&K20 LLC, owned by Melissa Mautz, 321 S Ashland Avenue, 606316-9363. Retail Shoes | Show Show Inc, owned by Shoe Show Inc, 524 W New Circle Rd., Ste. 120, 859-253-4896. Retail-Cell Phones | Wireless World DY LLC, owned by Yassir Elbasyouni, 126 Burt Rd., 859-420-6659. Retailer | Charming Charlie Inc, owned by Michael Crosby, 161 Lexington Green B-3, 713-634-4260. Roadside Work | Owned by Richard A Parks, 1824 Raleigh Road, 859-608-7606. Roofing | American Roofing & Metal, owned by Rick Steinrock, 881 Nandino Blvd., Unit 2, Lexington, Ky., 502-966-2900. Roofing | Owned by Zandal L Jackson, 2873 Winter Garden Dr., #13. Security Guards | Blue Line Security & K9, owned by Maria Wells, 984 Spring Run Rd., 859-227-0039. Shopping Center Property | Kimco Realty Corporation, owned by David Samber, 3200 Nicholasville Rd., 516-484-5858. Spa | Kiwi Spa, owned by Wei Zhong, 101 Malabu Dr., Ste. 6. Sport Supplements Sales | Musclepharm Corporation, owned by Brad Pyatt, 208-258-7145. Staffing Agency | Employbridge Midwest 1, owned by Thomas Bickes, 1051 Newtown Pike, Ste. 180, 812-961-6831. Statistical Consulting | Berry Consultants LLC, owned by Scott Berry, 2220 Chamblee Lane, 979-567-7755. Sub-Contractor | Reliance Electric Inc, owned by Thomas Cox, 828 Lane Allen Rd., Ste. 219, 435-874-1250. Taxi Cab Driver | Owned by Ahmed Al Omar, 1900 Garden Springs Dr., #19. Taxi Driver | Owned by Louinel Claude, 3361 Cove Lake Unit 322. Taxi Driver | Owned by Katoto Hussein, 319621-2037. Taxi Driver | Owned by Manes J Meristil, 859621-3620. Taxi Driver | Owned by Pierre Ngog, 1612 Konner Woods Dr., 859-283-7068. Taxi Driver | Padmore, Kingsley Gyimah, owned by Kingsley Padmore, 2070 Garden Springs Dr., #105, 718-909-6463. Taxi Driver | Owned by Stanley Walker, 859398-8363.
Therapeutic Counseling | Stamper Counseling Services, owned by Amie Stamper, 1315 W Main St., Ste. A, 859-554-6028. Therapist | Lamb, Patricia M, owned by Patricia M Lamb, 436 W Second Street, 859-2539024. Thoroughbred Horse Farm | Don Alberto Corporation, owned by R David Lester, 300 W Vine St., Ste. 2100, 859-231-3082. Tile/Floor Installation | Owned by Charles T Porter, 4135 Winnepeg Ct. Train/Race Thoroughbreds | Mccauley Racing LLC, owned by Tevis Mccauley, 4201 Versailles Rd., 859-509-2704. Tree Service | Big Blue Tree Service, owned by Nelson Graves, 179 Bradley Ln., 859-2309200. Vet Medical Wholesale | Intervet Inc, 1 Merck Drive. Weightloss Specialist | Medshare Inc, owned by Jim Faller, 2416 Greatstone Place, 270566-4428. Yoga Studio | Owned by Kitty Ward, 611 Winchester Road, Ste. 200, 859-351-5494. Youth Baseball Training/Academy | Kentucky Youth Baseball, owned by Chris Hoagland, 2623-B Regency Rd., 859-312-5620.
Commercial Loans Genesis Prop Of Ky 2 LLC from Central Bank & Tr Co for $12,500. Webb Beatty Homes LLC from Main St. Consult Inc for $20,000. Webb Beatty Homes LLC from Main St. Consult Inc for $20,000. Foley, John B Jr & Violet from Park Comm Fed Cr Un for $20,000. Jeff Maynard Bldr Inc from Winchester Fed Bank for $22,244. L & C 1 1 LLC from Your Comm Bank for $25,000. Blue Ribbon Prop LLC from Branch Banking & Tr Co for $43,000. Sjm Homes LLC from Community Tr Bank Inc for $46,830. Lincoln Real Est Inc from South Central Bank Inc for $47,250. Leasing Solutions LLC from Bank Of Lex for $48,450. Bentley & England LLC from Peoples Exchange Bank for $49,346. Lexington Bg Rentals LLC from Bank Of Lex for $52,720.
554 Jefferson St. LLC from Traditional Bank for $52,746. Triton Holdings LLC from Brown, Jason S for $57,000. St. Paul African Methodist Episcopal Ch I from Central Bank & Tr Co for $57,000. Bluegrass Country Prop LLC from Central Bank & Tr Co for $58,500. Cundiff Real Est Inv LLC from Bank Of Lex for $60,000. Farmer & Resch Dev LLC from Community Tr Bank Inc for $67,400. 6 Kids Inv LLC from Traditional Bank for $72,963. R E I LLC from Bank Of Lex for $75,000. Whitmer Prop Inc from Traditional Bank for $75,000. Caden Prop LLC from Central Bank & Tr Co for $78,400. Webb Beatty Homes LLC from Community Tr Bank Inc for $81,760. Gri 1 Prop LLC from Traditional Bank for $82,000. Bentley & England LLC from Peoples Exchange Bank for $88,000. Jackson Miller LLC from American Founders Bank Inc for $89,250. Will 4 LLC from Ohio Valley Fin Group for $96,000. Integrity Realty Solutions LLC from Kentucky Bank for $108,800. Huber Real Est #1 LLC from Town & Country Bank & Tr Co for $121,799. Bbar Prop LLC from Traditional Bank for $125,000. Graham Interiors LLC from Blue Grass Fed Sav/Loan Assn for $128,600. Martin & Riley Holdings LLC from Traditional Bank for $130,184. Briggs Co from Citizens Commerce Natl Bank for $135,440. Monon LLC from Community Ventures Corp for $147,371. Briggs Co from Traditional Bank for $149,600. Gdp Homes LLC from Peoples Exchange Bank for $153,000. Sjm Homes LLC from Central Bank & Tr Co for $153,375. G2 Mgt LLC from Traditional Bank for $154,000. Eirecon LLC from Farmers Bank for $158,300. Shropshire Farm LLC from Traditional Bank for $164,000. Generations Constr LLC from Community Tr Bank Inc for $170,200.
Mwh Prop LLC from Bank Of Lex for $173,000. Bluegrass Cottages Inc from Central Bank & Tr Co for $174,700. Webb Beatty Homes LLC from Community Tr Bank Inc for $177,600. Generations Constr LLC from Community Tr Bank Inc for $182,785. Webb Beatty Homes LLC from Community Tr Bank Inc for $190,400. Webb Beatty Homes LLC from Community Tr Bank Inc for $192,000. Kucher Enterprises LLC from Bank Of The Bluegrass for $192,451. Element Market Reserch Inc from Traditional Bank for $192,500. G2 Mgt LLC from Traditional Bank for $192,500. Jmoore Homes Inc from Central Bank & Tr Co for $192,750. Lexington Prop Group LLC from Republic Bank & Tr Co for $194,012. Sjm Homes LLC from Community Tr Bank Inc for $195,460. Artique Custom Homes LLC from First Sec Bank for $200,000. Sjm Homes LLC from Central Bank & Tr Co for $200,250. R & D Inv Prop from Farmers Bank for $202,366. R & D Inv Prop from Farmers Bank for $202,366. Webb Beatty Homes LLC from Community Tr Bank Inc for $204,000. Chris Jackson Bldr LLC from Peoples Exchange Bank for $204,000. Db Homes LLC from Traditional Bank for $210,000. Db Homes LLC from Bank Of Lex for $220,000. Johnson Baker LLC from Central Bank & Tr Co for $224,000. Jmoore Homes Inc from First Sec Bank Of Owensboro Inc for $224,800. Webb Beatty Homes LLC from First Sec Bank Of Owensboro Inc for $228,000. Atkins Homes LLC from Traditional Bank for $229,200. Webb Beatty Homes LLC from First Sec Bank Of Owensboro Inc for $236,000. Jht Prop LLC from South Central Bank Inc for $244,000. Via Vitae Dev LLC from Traditional Bank for $246,000. J Moore Homes Inc from Peoples Exchange Bank for $250,000.
Savannah Lane Homes LLC from Traditional Bank for $288,000. Vanda LLC from First Sec Bank Of Owensboro Inc for $297,500. Savannah Lane Homes LLC from Traditional Bank for $304,000. Ale Two LLC from Peoples Exchange Bank for $305,600. C&R Asphalt Land Acquisition Co LLC from South Central Bank Inc for $332,000. Sls Rentals Of Ky Inc from Community Tr Bank Inc for $345,000. First United Methodist Ch from Traditional Bank for $350,000. Lakeshore LLC from Bank Of Lex for $351,000. Barnhill Realty LLC from Kentucky Bank for $363,800. Rml Constr Llp from Bank Of The Bluegrass for $384,600. B&T Prop Mgt LLC from Pnc Bank Na for $391,100. Lexington Prop Group LLC from Republic Bank & Tr Co for $400,000. Commonwealth Designs Inc from Bank Of Ky Inc for $420,000. C&R Asphalt Land Acquisition Co LLC from South Central Bank Inc for $428,000. Dalton Ct LLC from Kentucky Bank for $435,000. Ball Wright & Murphy LLC from First Sec Bank for $440,000. C&R Asphalt Land Acquisition Co LLC from South Central Bank Inc for $448,000. Dailey Homes LLC from First Sec Bank Inc for $460,000. Wind Dance Prop Inc from Alliance Banking Co for $500,000. Shdmd Prop LLC from Bank Of The Bluegrass for $553,015. Commonwealth Designs Inc from Bank Of Ky Inc for $615,000. Anglo Swiss Ventures LLC from Traditional Bank for $636,000. Btr Prop LLC from Fifth Third Bank for $640,000. Whitmer Prop Inc from Traditional Bank for $660,000. Integra Prop LLC from Winchester Fed Bank for $750,000. L & C 1 1 LLC from Your Comm Bank for $817,097. Blue Sky Parkway LLC from Central Bank & Tr Co for $831,000. Cutters Hill LLC from Central Bank & Tr Co for $831,000.
Evergreen Prop Inc from Central Bank & Tr Co for $831,000. Floyd LLC from Central Bank & Tr Co for $831,000. Our House At The Pinnacle Inc from Pnc Bank Na for $1,050,000. Our House On Todds LLC from Pnc Bank Na for $1,050,000. Brenville Farm LLC from First Sec Bank Of Owensboro Inc for $1,100,000. Regency Rd., Ptnr LLC from Central Bank & Tr Co for $1,125,000. Aa Capital Inc from Republic Bank & Tr Co for $1,148,000. Andover Auto Sales Inc from Republic Bank & Tr Co for $1,148,000. Environmental Resources Inc from Citizens Commerce Natl Bank for $1,242,572. Boca Tide LLC from Bank Of The Bluegrass for $1,340,390. Blue Sky Parkway LLC from Central Bank & Tr Co for $1,398,000. Cutters Hill LLC from Central Bank & Tr Co for $1,398,000. Evergreen Prop Inc from Central Bank & Tr Co for $1,398,000. Floyd LLC from Central Bank & Tr Co for $1,398,000. Blue Sky Parkway LLC from Central Bank & Tr Co for $1,400,000. Cutters Hill LLC from Central Bank & Tr Co for $1,400,000. Evergreen Prop Inc from Central Bank & Tr Co for $1,400,000. Floyd LLC from Central Bank & Tr Co for $1,400,000. Hamburg Senior Residence LLC from Bank Of America Na for $1,470,000. Foxtrot 16 LLC from Central Bank & Tr Co for $1,480,000. Harpe & Mashni LLC from Bank Of Lex for $1,575,000. Bhp Prop LLC from Central Bank & Tr Co for $3,200,000. Briarwood Apts Of Lex from P R Mtg & Inv Corp for $3,993,000. Cambridge Square Of Lex from P R Mtg & Inv Corp for $3,993,000. Empire Holdings LLC from Bank Of The Bluegrass for $4,699,050. Wood Farms Inc from Newtek Small Business Fin Inc for $5,000,000. Commonwealth Designs Inc from Bank Of Ky Inc for $8,238,304. Rre Kenwick Canterbury Holdings LLC from Bank Of America Na for $25,000,000. BL
Exploring key economic issues facing Kentuckians today. 25TH
14
Tuesday, February 11, 2014 8 a.m. to 12 p.m. Lexington Convention Center Hear expert sources speak on significant issues for Kentuckians during this half-day event designed to inform you about notable economic trends throughout the State and the Nation. AMONG THE SPEAKERS ARE:
Dr. Christopher R. Bollinger Director of the Center for Business and Economics Research Gatton Endowed Professor of Economics Gatton College of Business and Economics University of Kentucky “An Overview of the State and Local Economies: Recent Developments and Implications for 2014”
Dr. David E. Altig Executive Vice President and Director of Research Federal Reserve Bank of Atlanta Atlanta, GA “A View from the Federal Reserve”
Dr. Donald J. Mullineaux duPont Endowed Chair in Banking and Financial Services Gatton College of Business and Economics University of Kentucky “A Stroll Down Outlook Conference Memory Lane”
For more information about the event, call 859.257.8746 or 1.800.284.6407 or register online at www.gatton.uky.edu/eec Early registration is recommended.
21
Co-sponsored by:
22
JANUARY 2014 WWW.BUSINESSLEXINGTON.COM
Who’sWho E M P LOY M E N T N E W S A N D AWA R D S I N O U R C O M M U N I T Y New Hires & Promotions Tom Klebeck has been added to the Three Chimneys team as chief financial officer. The Lexington Medical Society has announced the appointment of Christopher M. Hickey as executive vice president/CEO, effective Dec. 1.
HICKEY
John Hubbard has joined Air Hydro Power as its newest electrical engineer in the company’s Lexington branch. Prior to joining the AHP team, Hubbard was a controls/electrical designer for Trane. Sam Meroney has been named district manager of the northeastern United States and eastern Canada for Link-Belt Construction Equipment. Glenn Hatton has been named parts shipping supervisor, Bill Curry has been promoted to global supply chain specialist, and Diann Karrick has been promoted to import machine scheduler. Raul Ureña has been named district service representative for Latin America in the Link-Belt service department.
HUBBARD
Dustin G. Kostalek has been promoted to the position of financial advisor at UBS Financial Services. Carmen Hemesath has joined the Smiley Pete Publishing sales team, starting in January. Hemesath has sales experience at both WLEX and WDKY TV stations and has also worked for local agencies RPM and Meridian Communications.
MERONEY
Professional Certification Kyle Benningfield, Matt Wagers, and Dwayne Adams have become VMWare Certified Associates for Data Center Virtualization. Benningfield and Adams are field engineers and Wagers is a service desk technician with Integrity IT.
UREÑA
Board Announcements Dr. Russell Carpenter, director of the Noel Studio for Academic Creativity at Eastern Kentucky University, was recently elected to a one-year term as chair of the National Association of Communication Centers (NACC) and a two-year term as president of the Southeastern Writing Center Association (SWCA).
presents
HEMESATH
Kudos
Smiley Pete Jamboree and Holiday Bazaar Featuring: Fanged Robot, Coralee and the Townies, Best Friend Band, Palisades, and others
Community Trust Bank, Inc. was recently honored with the "Gold Lender Award" by the United States Small Business Administration (SBA) as Kentucky's top SBA 7a lender in 2012-2013. This is the fifth consecutive year the bank has received this award from the SBA. Michael D. Meuser and Michelle L. Hurley, both attorneys and shareholders at Miller, Griffin & Marks, P.S.C., have been named co-winners of the Edward S. Bonnie 2013 Outstanding Kentucky Equine Lawyer Award by the Equine Law Section of the Kentucky Bar Association. Meuser is the chair and Hurley is a member of the firm’s equine practice group. BL
CARPENTER
Plus a Holiday Gift Buying Bazaar featuring gifts items from: Martine’s Bakery, Meg C. Jewelry, Sav’s Piquant, Lucia’s, Crushed Violet, Bamboozle, Mudworks, Morris Book Shop, and local comic book artists.
6pm to 9pm • $5 cover Featuring Fork in the Road Galley Kitchen and Local Craft Brew
SPONSORED BY
Find something tadoo.
Who’s Who For You? TO SUBMIT YOUR WHO’S WHO NEWS EMAIL A PRESS RELEASE AND PHOTO TO INFO@BIZLEX.COM
O R N E
W O N LL
We’ve got great news for the health of your business.
Quality Health Coverage. For Every Kentuckian.
As a small business owner, you know that having healthier employees means having a healthier business. kynect, Kentucky’s Healthcare Connection, is here to make it easy and affordable for businesses with 50 or fewer employees to provide coverage. Your employees get the benefit of quality healthcare. You get the benefit of a more reliable workforce and may qualify for valuable tax credits. It’s a new day for small business. And the people who make it work. Visit kynect.ky.gov or call 1-855-4kynect to get started.