Opinion
Most of the politicians in Kentucky are acting as if the pension system in Kentucky is difficult to solve. It's not. All that needs to be done is have the government pensioners pay more into their own fund. Problem solved.
Some will say this is naive, but it isn't. Scott Walker, the governor of Wisconsin has already shown the way. All that happened there, contrary to media and union lies, was he made them pay their fair share into their own pensions. What's so controversial about that? Nothing. It should have been happening all along.
Government workers are paid notorious benefits, far beyond what the free and private sector offers, which is why the pension is in the condition it's in.
Many Kentucky Democrats, as usual, only can think of terms of raising taxes to pay for these outrageous pension liabilities, rather than do the right thing, which is to make the beneficiaries of the pensions pay more into them.
Calling it tax reform, all that will be presented is a tax raise. We don't need anymore taxes, we need more responsibility for overpaid government workers and retirees to pay more into their retirement accounts.
This is why Europe has come under enormous economic pressure, as the many countries there have offered government workers unsustainable benefit packages the the private sector can't afford to pay for. And why should they?
We that work for a living outside of government have no mandate from God or anyone else to pay this types of benefits to very unproductive government workers who drain our finances to the detriment of our own children and families. It's time for government workers to pay more of their own way, not the rest of us.
February 5, 2013
February 4, 2013
Kentucky Gas Prices Hit $3.42 on Average
Gasoline prices soared in 2012, accounting for close to 4 percent of incomes for residents in the United States, according to a recently released government report.
A report from the Oil Price Information Service revealed that Americans paid a record amount for gasoline in 2013, reaching $479 billion for the year.
The Energy Department said all of this is related to higher prices, as Americans are actually buying less gasoline because of the higher costs, as well as more fuel efficient vehicles.
Gasoline prices in 2012 reached its highest levels in 2012, as geo-political issues in the Middle East, outages at refineries, and bad weather slowed down supply.
Across the nation, gas prices averaged $3.60 a gallon for the year, climbing 9 cents from 2011. In Kentucky at this time, gas prices average $3.42 a gallon across the state.
A report from the Oil Price Information Service revealed that Americans paid a record amount for gasoline in 2013, reaching $479 billion for the year.
The Energy Department said all of this is related to higher prices, as Americans are actually buying less gasoline because of the higher costs, as well as more fuel efficient vehicles.
Gasoline prices in 2012 reached its highest levels in 2012, as geo-political issues in the Middle East, outages at refineries, and bad weather slowed down supply.
Across the nation, gas prices averaged $3.60 a gallon for the year, climbing 9 cents from 2011. In Kentucky at this time, gas prices average $3.42 a gallon across the state.
More Ammo Against Gun Control Fanatics
The rapidly changing world of technology is already co-opting the idea of trying to control guns by liberal politicians. They know it to.
Already there are 3-D printers out there where software can be downloaded which can produce a weapon that is able to shoot bullets.
The idea of gun registration is already laughable, but in the emerging world of 3-D printing it's even more of a joke, as once the price of the printers come down, similar to when personal computers first came on the scene, pretty soon everyone will own one, and from there it's only a matter of using software to produce the parts at home with your own printer.
There is no way in the world any of this will be able to be reversed, and so politicians need to embrace that reality, as no law made will keep this from happening very quickly.
I think Kentucky Senator Rand Paul, and others, have the right idea when they say school administrators and teachers need to be trained and armed, as far as protecting children in public schools goes, as that is the only way to ensure students can be relatively safe in a world that includes evil people in it.
No matter what laws may pass, if any, it will do nothing to stop the proliferation of firearms, so answers such as protection need to be in place, rather than the unrealistic idea that guns can be removed from the homes of law-abiding, and unfortunately, criminal Americans.
In other words, the focus needs to be on stopping violence by meeting it with force, not the ridiculous idea guns can be eliminated from the nation. It's not going to happen.
Already there are 3-D printers out there where software can be downloaded which can produce a weapon that is able to shoot bullets.
The idea of gun registration is already laughable, but in the emerging world of 3-D printing it's even more of a joke, as once the price of the printers come down, similar to when personal computers first came on the scene, pretty soon everyone will own one, and from there it's only a matter of using software to produce the parts at home with your own printer.
There is no way in the world any of this will be able to be reversed, and so politicians need to embrace that reality, as no law made will keep this from happening very quickly.
I think Kentucky Senator Rand Paul, and others, have the right idea when they say school administrators and teachers need to be trained and armed, as far as protecting children in public schools goes, as that is the only way to ensure students can be relatively safe in a world that includes evil people in it.
No matter what laws may pass, if any, it will do nothing to stop the proliferation of firearms, so answers such as protection need to be in place, rather than the unrealistic idea that guns can be removed from the homes of law-abiding, and unfortunately, criminal Americans.
In other words, the focus needs to be on stopping violence by meeting it with force, not the ridiculous idea guns can be eliminated from the nation. It's not going to happen.
Big Rivers Electric Pricing Businesses Out of the Area
In a move that could drastically affect the lives of people in western Kentucky, Big Rivers Electric Corp. has decided to take upon itself to boost electric rates by 20 percent per megawatt, which has resulted in the Rio Tinto Alcan aluminum smelter in Sebree to announce it'll shutter it operations.
According to Rio Tinto Alcan spokesman Kenny Barkley, the rate increase isn't sustainable for operations to continue.
This is the second aluminum smelter in the region to announce it will be shutting down operations, with the other being of Century Aluminum in Hawesville.
Strangely, the asserted reason for the gigantic rate increase is from the loss of Century as a customer by Big Rivers Electric. So let's see. They're losing a huge customer, so they increase rates and lose another big customer. They need to look at the leadership of Big Rivers and consider replacing it with this time of economic insanity.
It's not clear how all of this will have an impact on the 488 employees over whether they'll be offered jobs elsewhere in the company at other locations. Either way, it won't help the area once the jobs are gone.
According to Rio Tinto Alcan spokesman Kenny Barkley, the rate increase isn't sustainable for operations to continue.
This is the second aluminum smelter in the region to announce it will be shutting down operations, with the other being of Century Aluminum in Hawesville.
Strangely, the asserted reason for the gigantic rate increase is from the loss of Century as a customer by Big Rivers Electric. So let's see. They're losing a huge customer, so they increase rates and lose another big customer. They need to look at the leadership of Big Rivers and consider replacing it with this time of economic insanity.
It's not clear how all of this will have an impact on the 488 employees over whether they'll be offered jobs elsewhere in the company at other locations. Either way, it won't help the area once the jobs are gone.
Xinergy Completes Kentucky Thermal Coal Sale
KNOXVILLE, TN, Feb. 4, 2013 /PRNewswire/ - Xinergy Ltd. (XRG.TO) (the "Company" or "Xinergy"), a Central Appalachian coal producer, today announced that it has completed the sale of its Straight Creek and Red Bird thermal coal mining operations (the "Sale") in Bell, Clay, Harlan, Knox and Leslie Counties, Kentucky to affiliates of JW Resources, Inc. (the "Buyer") for US$47.2 million in cash, subject to adjustment as provided for in a definitive asset purchase agreement (the "Agreement") executed Friday, February 1, 2013.
Matt Goldfarb, Chief Executive Officer of Xinergy, commented: "This divestiture furthers our efforts to position Xinergy's asset portfolio towards a greater mix of premium quality, mid-vol metallurgical coal production. Although we continue to view favorably the long-term prospects for low-cost Central Appalachian thermal coal mining, we believe that this transaction is both accretive to our shareholders and value enhancing, from the perspective of enhanced liquidity and operational flexibility, as we position our remaining assets for significant growth."
The Sale is considered a "related party transaction" for the purposes of Multilateral Instrument 61-101 ("MI 61-101") as Jon Nix, a greater than 10% shareholder of the Company, will have an approximate 5.1% direct and/or indirect ownership interest in the Buyer at the time of the Sale. However, the Sale is not subject to the minority approval and valuation requirements under MI 61-101 as there is an applicable exemption from these requirements as neither the fair market value of the subject matter, nor the fair market value of the consideration, for the Sale, insofar as it involves the interested parties, exceeds 25% of Xinergy's market capitalization. Mr. Nix is not a member of, nor does he have representation on, the board of directors of Xinergy. The Buyer's other shareholders are not related parties to the Company.
The Company's board of directors unanimously determined that the Sale is in the best interests of the Company's shareholders. The Sale provides the Company with, among others, the following benefits:
- Deleveraging: The Company's net debt (total debt less cash) is reduced by approximately 22% from approximately $216.7 million at December 31, 2012 to $169.5 million after receipt of the net proceeds from the Sale and the repayment of equipment debt;
- Liquidity: Net proceeds from the Sale are approximately $42.7 million, which is net of a $3 million escrow covering indemnity claims under the Agreement and the repayment of approximately $4.4 million in equipment debt. Approximately $38.2 million of such net proceeds, after giving effect to equipment debt extinguishment, transaction-related expenses and taxes, are anticipated to be deposited into a Collateral Proceeds Account pursuant to the requirements of the Indenture (the "Indenture") governing the Company's 9¼% Senior Secured Notes. Based on the Company's cash balance of $32.2 million at December 31, 2012, after giving effect to the Sale the Company's liquidity profile is as follows:
| Cash | $ | 32.2 million | ||
| Term Loan B Commitment | $ | 9.8 million | ||
| Liquidity | $ | 42.0 million | ||
| Restricted Cash* | $ | 46.0 million | ||
* Includes approximately $38.2 million of net proceeds from the Sale.
The Company anticipates paying the entire $20 million in estimated infrastructure costs at its South Fork complex from the net proceeds from the Sale held as restricted cash.
- Reduced Dependence on Thermal Coal Production: The Sale substantially decreases the Company's dependence on CAPP thermal coal production, and positions the Company to benefit from a greater mix of premium quality, mid-vol metallurgical coal production.
The board of directors of the Company has received a fairness opinion from GMP Securities L.P. (the "Fairness Opinion"), which concluded, subject to the assumptions, limitations and qualifications described therein, that the consideration to be received by the Company pursuant to the Sale is fair, from a financial point of view, to the Company. The Fairness Opinion will be filed on SEDAR at www.sedar.com together with the material change report related to this press release.
About Xinergy Ltd.
Headquartered in Knoxville, Tennessee, Xinergy Ltd., through its wholly owned subsidiary Xinergy Corp. and its subsidiaries, is engaged in coal mining in West Virginia and Virginia. Xinergy sells high quality thermal and metallurgical coal to electric utilities, steelmakers, energy trading firms and industrial companies. For more information, please visit www.xinergycorp.com.
Cautionary Statements
This press release contains forward-looking statements and information that are based on the beliefs of management and reflect Xinergy's current expectations. When used in this press release, the words "estimate", "project", "belief", "anticipate", "intend", "expect", "plan", "predict", "may" or "should" and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information. The forward-looking statements and information in this press release include information relating to the effects of the Sale on Xinergy's liquidity, Xinergy's intended use of the net proceeds from the Sale, and selected fourth quarter 2012 operating date. Such statements and information reflect the current view of the Company with respect to risks and uncertainties that may cause actual results to differ materially from those contemplated in those forward-looking statements and information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, completion of Xinergy's financial statements for fiscal year 2012, which may reflect audit-related adjustments to the fourth quarter selected financial data presented in this release, and developments in Xinergy's business which may impact the company's intended use of the net proceeds from the Sale.
The Company cautions that the foregoing list of material factors is not exhaustive. When relying on Xinergy's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events. Xinergy has assumed a certain progression, which may not be realized. It has also assumed that the material factors referred to in the previous paragraph will not cause such forward-looking statements and information to differ materially from actual results or events. However, the list of factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. Please refer to the risks outlined in Xinergy's public disclosure record available on SEDAR at www.sedar.com for more details.
THE FORWARD-LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE REPRESENTS THE EXPECTATIONS OF XINERGY AS OF THE DATE OF THIS PRESS RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE XINERGY MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE LAWS.
Louisville Wrestling Coach Saved by Gatorade
An unsung hero saved a Louisville wrestling coach and his two sons after a crash with two tractor-trailers which resulted in the SUV he was driving bursting into flames.
A car behind them stopped and the person in it attempted to put the flames out with snow. There wasn't enough snow on the ground to do the job and so she took some gatorade and poured it on the flames, dousing them.
The recipient of the action was Fern Creek coach Jeff Branch, who slammed into the trucks after losing control on Interstate 64 close to Frankfort. He suffered a broken nose while his two sons were treated and released.
A car behind them stopped and the person in it attempted to put the flames out with snow. There wasn't enough snow on the ground to do the job and so she took some gatorade and poured it on the flames, dousing them.
The recipient of the action was Fern Creek coach Jeff Branch, who slammed into the trucks after losing control on Interstate 64 close to Frankfort. He suffered a broken nose while his two sons were treated and released.
Somerset Refinery Back On Line
After being shut down for three years, a refinery in the central Kentucky city of Somerset is back on line, with expectations it'll be running at full capacity in about half a year.
The refinery is now running at about 35 to 40 percent capacity at this time, with the Continental Refining Company saying that the company resumed operations at the refinery several months ago by starting to receive oil, and actual refining began about a month ago. The company chose to wait to make the announcement until Sunday, February 3.
About a year ago Continental Refining Company acquired the refinery after it closed in 2010 during a period of financial struggles by several former owners.
Continental also revealed it has a contract in place with Sonoco Partners Marketing and Terminals.
The refinery is now running at about 35 to 40 percent capacity at this time, with the Continental Refining Company saying that the company resumed operations at the refinery several months ago by starting to receive oil, and actual refining began about a month ago. The company chose to wait to make the announcement until Sunday, February 3.
About a year ago Continental Refining Company acquired the refinery after it closed in 2010 during a period of financial struggles by several former owners.
Continental also revealed it has a contract in place with Sonoco Partners Marketing and Terminals.
February 2, 2013
Christ's Challenge for Larue County
For a long time around the world and throughout history, there has been a people totally committed to Jesus Christ and sold out to Him as their purpose and reason for living. They haven't born any particular name (although their enemies and detractors would put some title on them), and considered themselves nothing more than a people that pursued Jesus Christ for Himself.
In my travels around the United States and other parts of the world, I have found pockets of believers all over that still have Christ as their reason for living and commit to Him and one another in practicing their Christianity in a very real and living way; one that includes walking as He walks, as John said in his first letter that we must do.
This has nothing to do with attending something or even necessarily meeting in homes as the emphasis, but rather an embracing of the life of Christ together in a way that He is the center of our lives.
Now that doesn't mean we don't do a lot in homes, as that's a lot of where life is participated in. But many have went the way of home churches with nothing more than moving what is happening in buildings into the home. That does nothing to help or facilitate what it is that Jesus Christ is after in this earth for His people, and so we must go beyond the simple exchanging of a building for a house.
What Jesus Christ is after is a people that truly love Him, and from there - one another. It is a living out of life on a daily basis, watching over and helping one another in our lives to the glory of God.
In the end, the church has always been in the heart of God for one thing, and that is that it be a representation of who Jesus Christ is. The world will only know Jesus Christ if it sees Him in the people of God.
As Jesus said in the story of Martha and Mary when Martha was grumbling about having to serve the people alone in Luke 10:38-42.
38 Now it happened as they went that He entered a certain village; and a certain woman named Martha welcomed Him into her house. 39 And she had a sister called Mary, who also sat at Jesus’ feet and heard His word. 40 But Martha was distracted with much serving, and she approached Him and said, “Lord, do You not care that my sister has left me to serve alone? Therefore tell her to help me.”
41 And Jesus answered and said to her, “Martha, Martha, you are worried and troubled about many things. 42 But one thing is needed, and Mary has chosen that good part, which will not be taken away from her.”
This is as simple and clear a statement that Jesus ever made concerning the purpose for our existence. It's the living together of a people with their lives centered in the person of Jesus Christ. It's nothing less than that.
If you want to have something more in Larue County concerning the purpose of Jesus Christ, look to and pray for the hearts of people to be softened in a way that they open them up to the Lord so He can do here what it is in His heart to do.
If you're looking for something beyond attendance and meetings, contact us a geeb@hotmail.com
In my travels around the United States and other parts of the world, I have found pockets of believers all over that still have Christ as their reason for living and commit to Him and one another in practicing their Christianity in a very real and living way; one that includes walking as He walks, as John said in his first letter that we must do.
This has nothing to do with attending something or even necessarily meeting in homes as the emphasis, but rather an embracing of the life of Christ together in a way that He is the center of our lives.
Now that doesn't mean we don't do a lot in homes, as that's a lot of where life is participated in. But many have went the way of home churches with nothing more than moving what is happening in buildings into the home. That does nothing to help or facilitate what it is that Jesus Christ is after in this earth for His people, and so we must go beyond the simple exchanging of a building for a house.
What Jesus Christ is after is a people that truly love Him, and from there - one another. It is a living out of life on a daily basis, watching over and helping one another in our lives to the glory of God.
In the end, the church has always been in the heart of God for one thing, and that is that it be a representation of who Jesus Christ is. The world will only know Jesus Christ if it sees Him in the people of God.
As Jesus said in the story of Martha and Mary when Martha was grumbling about having to serve the people alone in Luke 10:38-42.
38 Now it happened as they went that He entered a certain village; and a certain woman named Martha welcomed Him into her house. 39 And she had a sister called Mary, who also sat at Jesus’ feet and heard His word. 40 But Martha was distracted with much serving, and she approached Him and said, “Lord, do You not care that my sister has left me to serve alone? Therefore tell her to help me.”
41 And Jesus answered and said to her, “Martha, Martha, you are worried and troubled about many things. 42 But one thing is needed, and Mary has chosen that good part, which will not be taken away from her.”
This is as simple and clear a statement that Jesus ever made concerning the purpose for our existence. It's the living together of a people with their lives centered in the person of Jesus Christ. It's nothing less than that.
If you want to have something more in Larue County concerning the purpose of Jesus Christ, look to and pray for the hearts of people to be softened in a way that they open them up to the Lord so He can do here what it is in His heart to do.
If you're looking for something beyond attendance and meetings, contact us a geeb@hotmail.com
February 1, 2013
Government Food Police Strike Again
The Agriculture Department of the Federal government is now interfering more in the freedoms of individuals by introducing new rules that would allegedly make foods that are sold in the public school system more "healthful" than they are now. This coming from the same Federal department that promoted the infamous food pyramid.
Supposedly this is an effort to combat childhood obesity. The government now feels it has a mandate to battle childhood obesity? Why not start with cutting back on the junk food all the people using food stamps can buy then. That's a far bigger problem than the food children are eating in schools.
"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should
be supported when kids walk through the schoolhouse door," said Agriculture Secretary Tom Vilsack. Really, he actually said that.
There is no obese child that has a parent "instill healthy eating habits" that is then undermined by them endlessly gorging at a school. Those obese children are obviously allowed to eat anything they want at home, only complementing it with the food they eat at school.
Either way doesn't really matter though. The government is again attempting to show itself as all powerful and big brother by sticking its nose in far beyond the mandate it exists for.
Be that as it may, what will be changed is snacks now sold in school systems will not be allowed to have over 200 calories in them. The new standards will include snack bars, vending machines, and a la carte lunch lines.
There will also be different guidelines based upon the particular school levels. For elementary and middle schools, beverages that can be offered include only water, 100 percent fruit or vegetable juice, and low-fat milk.
High schools will be able to offer diet sodas, iced teas and sports drinks, although that wouldn't include all that are available, but only those approved to be offered. Calories in high school drinks would be limited to 60 to 75 calories per 12-ounce container.
As for portion sizes, in elementary schools the largest would be 8-ounce portions, while in middle schools that would increase to 12-ounces.
Other food issues such as school bake sales and food offered for fundraisers won't be regulated at the federal level, although states are empowered to do so if they choose to.
Some conservatives have rightly resisted the rules, saying government has no place in telling children what they are allowed to eat.
Supposedly this is an effort to combat childhood obesity. The government now feels it has a mandate to battle childhood obesity? Why not start with cutting back on the junk food all the people using food stamps can buy then. That's a far bigger problem than the food children are eating in schools.
"Parents and teachers work hard to instill healthy eating habits in our kids, and these efforts should
be supported when kids walk through the schoolhouse door," said Agriculture Secretary Tom Vilsack. Really, he actually said that.
There is no obese child that has a parent "instill healthy eating habits" that is then undermined by them endlessly gorging at a school. Those obese children are obviously allowed to eat anything they want at home, only complementing it with the food they eat at school.
Either way doesn't really matter though. The government is again attempting to show itself as all powerful and big brother by sticking its nose in far beyond the mandate it exists for.
Be that as it may, what will be changed is snacks now sold in school systems will not be allowed to have over 200 calories in them. The new standards will include snack bars, vending machines, and a la carte lunch lines.
There will also be different guidelines based upon the particular school levels. For elementary and middle schools, beverages that can be offered include only water, 100 percent fruit or vegetable juice, and low-fat milk.
High schools will be able to offer diet sodas, iced teas and sports drinks, although that wouldn't include all that are available, but only those approved to be offered. Calories in high school drinks would be limited to 60 to 75 calories per 12-ounce container.
As for portion sizes, in elementary schools the largest would be 8-ounce portions, while in middle schools that would increase to 12-ounces.
Other food issues such as school bake sales and food offered for fundraisers won't be regulated at the federal level, although states are empowered to do so if they choose to.
Some conservatives have rightly resisted the rules, saying government has no place in telling children what they are allowed to eat.
Fairview School Board Under Suspicion of Tax Manipulation
The school board of Fairview school district in Kentucky are under suspicion for allegedly using robocalls to residents in the area, which a number of voters say are attempts to manipulate voters into accepting a proposed 3 percent sales tax on a number of services in the area.
For some unknown reason school board chairman John Burke wouldn't say one way or the other whether or not members of the school board initiated the calls, which according to some voters in the area of which recorded the calls, said appeared to originate from Atlanta, Ga.
Instead Burke attempted to dismiss the question. “We, as a board, are assessing the support for continuing operations of our school system through a 3 percent utilities tax,” Burke said.
A committee in the area is heading up an anti-tax campaign. One member of the committee, Joe Weis, said the poll isn't a poll at all, but is an attempt to sway the opinion of voters.
“Under the guise of taking a poll, they are saying things like ‘are you aware that if the utility tax is not passed, your child may have to be driven long distances to other county schools.’”
This is the third attempt by the school board to force this on area residents. The prior two were rejected.
What it entails would a 3 percent tax on electric, gas, water, sewer, cable and electric bills. Imagine how much that would add to the monthly bills of residents if enacted.
Opponents are working to collect enough signatures for a special election which would be used to eliminate the tax. They already succeeded, but the school board sued them over a language technicality in the petition, and so the petition must be circulated a second time to ensure more than enough signatures to eliminate the hefty tax.
The proposed use of the funds would be to build an new middle-school wing and major restoration of the high school.
For some unknown reason school board chairman John Burke wouldn't say one way or the other whether or not members of the school board initiated the calls, which according to some voters in the area of which recorded the calls, said appeared to originate from Atlanta, Ga.
Instead Burke attempted to dismiss the question. “We, as a board, are assessing the support for continuing operations of our school system through a 3 percent utilities tax,” Burke said.
A committee in the area is heading up an anti-tax campaign. One member of the committee, Joe Weis, said the poll isn't a poll at all, but is an attempt to sway the opinion of voters.
“Under the guise of taking a poll, they are saying things like ‘are you aware that if the utility tax is not passed, your child may have to be driven long distances to other county schools.’”
This is the third attempt by the school board to force this on area residents. The prior two were rejected.
What it entails would a 3 percent tax on electric, gas, water, sewer, cable and electric bills. Imagine how much that would add to the monthly bills of residents if enacted.
Opponents are working to collect enough signatures for a special election which would be used to eliminate the tax. They already succeeded, but the school board sued them over a language technicality in the petition, and so the petition must be circulated a second time to ensure more than enough signatures to eliminate the hefty tax.
The proposed use of the funds would be to build an new middle-school wing and major restoration of the high school.
S&P Downwardly Revises Kentucky Economic Outlook
S&P Rating Services announced it was removing its stable outlook on the economic health of Kentucky to a negative outlook, based upon over $33 billion in unfunded liabilities when combining all the government retirement systems together.
S&P credit analyst John Sugden said in a statement, “The outlook revision reflects our concern over pension funded levels, which have declined and are likely to continue declining due to lower-than-actuarially required funding of pension liabilities and budgetary pressures associated with funding post-retirement benefits."
Seeing the possibility of government officials trying to pass off the cost of the unfunded liabilities on business and workers of Kentucky, Dave Adkisson, president of the Kentucky Chamber of Commerce, said this at a press conference:
“If the 2013 session concludes without the passage of meaningful pension reform, I don’t see how the business community would have any choice but to call the 2013 session a failure.”
“Kentucky’s businesses have a significant stake in our public employee pension systems — both at a state and local level,” Adkisson added. “Kentucky’s private employers, most of which are small, local businesses, directly contribute approximately 40 percent of all state revenue in income, corporate and sales taxes, in addition to individual income, payroll and sales taxes.”
Kentucky taxpayers and workers in the productive private sector shouldn't take any of this, as the idea of raising taxes to pay for over-paid government workers and their unsustainable promises of above-market compensation the rest of us aren't provided, is outrageous.
Why should we have to pay any more for this out-of-control, larger government expenditures.
The only answer is to cut back on pay and benefits of government workers and make them pay more out of their own pockets for what they get.
Already the measures being put forth are only band aides made to look like lawmakers are doing something. In reality, they are simply kicking the can down the road again; a road that is getting much shorter.
What is it about Kentucky politicians that make them not understand that the days of big government and overpaid state workers is over? It is. It's unsustainable, and the people of Kentucky aren't going to have the weight of more taxes forced upon them because of paying out wages and benefits the rest of the private and far more productive sector don't come close to getting.
S&P credit analyst John Sugden said in a statement, “The outlook revision reflects our concern over pension funded levels, which have declined and are likely to continue declining due to lower-than-actuarially required funding of pension liabilities and budgetary pressures associated with funding post-retirement benefits."
Seeing the possibility of government officials trying to pass off the cost of the unfunded liabilities on business and workers of Kentucky, Dave Adkisson, president of the Kentucky Chamber of Commerce, said this at a press conference:
“If the 2013 session concludes without the passage of meaningful pension reform, I don’t see how the business community would have any choice but to call the 2013 session a failure.”
“Kentucky’s businesses have a significant stake in our public employee pension systems — both at a state and local level,” Adkisson added. “Kentucky’s private employers, most of which are small, local businesses, directly contribute approximately 40 percent of all state revenue in income, corporate and sales taxes, in addition to individual income, payroll and sales taxes.”
Kentucky taxpayers and workers in the productive private sector shouldn't take any of this, as the idea of raising taxes to pay for over-paid government workers and their unsustainable promises of above-market compensation the rest of us aren't provided, is outrageous.
Why should we have to pay any more for this out-of-control, larger government expenditures.
The only answer is to cut back on pay and benefits of government workers and make them pay more out of their own pockets for what they get.
Already the measures being put forth are only band aides made to look like lawmakers are doing something. In reality, they are simply kicking the can down the road again; a road that is getting much shorter.
What is it about Kentucky politicians that make them not understand that the days of big government and overpaid state workers is over? It is. It's unsustainable, and the people of Kentucky aren't going to have the weight of more taxes forced upon them because of paying out wages and benefits the rest of the private and far more productive sector don't come close to getting.
Kentucky Hit by Near-Blizzard Conditions
Some schools in Kentucky were closed as near-blizzard conditions hit the Bluegrass state, with temperatures dropping into the single digits in many areas.
Larue County was spared some of the worst of the snow accumulation, which hit some areas with several inches of snow.
Wind chills earlier in the morning made if feel like from -5 to -10, moving up a little as the weather warmed slightly to a little above zero. The high today for Larue County is about 27°F, but it's unlikely to reach even that.
After a rough night of higher winds, it has calmed down some, now coming in from the West at about 10 mph.
Kentucky Utilities reported about 400 customers in the Lexington area alone were without power.
Motorists are urged to use caution because some roads are freezing up even after they've been cleared. That's especially true in the Louisville area. Keeping more braking distance is the best practice under these conditions if you have to travel.
The rest of Friday should be okay, but Saturday we could get more snow in Larue County, with other areas of the state getting even more.
Larue County was spared some of the worst of the snow accumulation, which hit some areas with several inches of snow.
Wind chills earlier in the morning made if feel like from -5 to -10, moving up a little as the weather warmed slightly to a little above zero. The high today for Larue County is about 27°F, but it's unlikely to reach even that.
After a rough night of higher winds, it has calmed down some, now coming in from the West at about 10 mph.
Kentucky Utilities reported about 400 customers in the Lexington area alone were without power.
Motorists are urged to use caution because some roads are freezing up even after they've been cleared. That's especially true in the Louisville area. Keeping more braking distance is the best practice under these conditions if you have to travel.
The rest of Friday should be okay, but Saturday we could get more snow in Larue County, with other areas of the state getting even more.
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