Wall Street Investors; GM moves away from SUV for smaller cars - WDRB 41 Louisville News

Wall Street Investors; GM moves away from SUV for smaller cars

-Investors on Wall Street Tuesday heard the Federal Reserve chairman say the string of interest rate cuts is at an end. Ben Bernanke added the economy should be improving later this year.

-The numbers were not expected but they are most welcome on Wall Street. Orders for manufactured goods posted a surprisingly strong increase in April.  The Commerce Department says demand rose across a number of industries.  Orders were up 1.1 percent in April following a 1 and a half percent increase in March.  Declines were seen where you would expect them. In the auto industry and in the airline business. The overall upward movement is seen as a possible sign manufacturing is beginning to pull out of its slump.

-General Motors is joining the shift away from SUVs and trucks to smaller, gas saving vehicles. The automaker is closing four truck and SUV plants. The automaker says the plants to be closed are in Ontario, Moraine, Ohio, Janesville, Wisconsin, and one in Mexico. GM also says the Hummer brand will be reviewed and potentially sold or revamped. General Motors says the moves in response to slumping sales of pickups and SUVs brought on by high oil prices and said a market shift to smaller vehicles is permanent. GM said it has no plans to reopen the four plants in the future.

-Kentucky State Fair admission and midway ride tickets will go up this year, but not yet. You can save some money by getting your tickets now, online. The State Fair board is worried about the cost of fuel hurting families ability to attend the fair this year. Admission is eight dollars for adults, four dollars for children and seniors when the State Fair opens August 14th, but you can purchase tickets for five dollars and two dollars online now. The same holds true for Thrillway ride tickets. A strip of 22 tickets will cost 20 dollars during the fair, but online you can purchase the same strip for 14. It's one way to help control costs and enable Kentuckians to attend the fair.

Harold Workman, Pres., KFEC says, "It might be a double edged sword it may hurt us, it may help us. It's really hard to say because people may not go on that long vacation, they may not take that long trip and they may say this year, we're gonna stay home in Kentucky and we're gonna go to the state park for instance, or we're gonna go to the state fair.  We hope that's what they're saying of course."

The discount ticket prices are available now online through the Kentucky State Fair website, and beginning July 6th. from any Kroger store. Workman says, "We think it's a pretty good bargain. Everything at the state fair is free with the exception of midway rides and our four paid concerts that we have. Everything is free, and there are so many things to do and see at the state fair."'

www.KYStateFair.org is the place to go to order your state fair tickets. You can go to the newslinks section to find the state fair site.

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