Grand opening of Sheraton Riverside in Jeffersonville - WDRB 41 Louisville News

Grand opening of Sheraton Riverside in Jeffersonville

The opening bell sounded Thursday and the market reacted to the Commerce Department's description of the economy's performance in the first quarter: it pointed to a fragile economy shaken by housing, credit, and financial debacles.

Investors were not amused. The Dow hit a new low for the year.

The Dow is down 358 points to close at 11,4573.

The Nasdaq also closed down 79.89 points at 2,321.

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If it rarely happens, it must be news.  Sales of existing homes have gone up for only the second time in the past ten months.

The National Association of Realtors says the sales of single family homes and condos rose 2% last month.

Median home prices continued to fall, but the turnaround in sales is a positive move the real estate industry has needed.  Many economists believe prices will have to decline more before the housing industry can mount a sustained recovery.

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A 4th generation Louisville business is adding 182 new manufacturing jobs.

Kentucky Trailer is seeking to expand on its 286 employees by adding the workers.  The company has been on South Third Street since its founding 72 years ago by the Tway family which maintains majority ownership.

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The opening didn't quite make it in time for this year's Thunder Over Louisville, but Thursday a grand opening is greeting the newest hotel to the Metro area.

The Sheraton Riverside in Jeffersonville brings 181 rooms, some with a full view of downtown Louisville, more than 8,000 square feet of meeting space, and a 4,000 square foot ballroom.

The rebuilding of the structure for the opening missed the goal of Thunder, but did have a soft opening for Derby weekend.

Shawn D. Frisbee, General Manager of the Sheraton Riverside, tells Fox 41 News, "We had a little weather issue.  The building we did, we took the building all the way down to concrete and steel, and took both faces off the building, put new air conditioners in, put a new face on the building, new windows.  It took a little longer than we had anticipated, but we're very happy with the product we finished and the investment we've made in the community."

Thursday also marked the first time One Southern Indiana and Greater Louisville Inc. collaborated on a project, as the two chambers work toward being regional partners.

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Gas prices are making people dissatisfied with their cars.  Car owner satisfaction has dropped to a five year low.

The J.D. Power Survey shows if you've bought a new car this year, chances are you just aren't as enamored with it as you were the last time you bought a new car.

The survey shows for the first time in five years, drivers of new cars were less satisfied with their vehicles. And it all goes back to high gas prices.

The research shows that by and large, fuel economy among vehicles hasn't improved at a time when gas prices are up 27%.

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