C.W. Express closes its doors; tried to offer opportunities to ex-felons
Before the opening bell, investors were treated to two sets of disappointing economic reports.
Wholesale prices rose 1.2% last month, and housing starts fell to the lowest pace in more than 17 years.
More than 100 people are out of a job as a local trucking company closes its doors. Charlie Johnson of C.W. Johnson Xpress talked Tuesday about the closure of his business.
He started the company three years ago with a mission: "This company was set up...with a mission to help rebuild the inner city and offer jobs and opportunities to those people who've been denied."
Johnson started a program to help ex-felons train for jobs at the company. He took out a loan to start the business and defaulted on it.
Johnson now owes the bank $8.3 million. He had gotten local support from churches and local companies, but was unable to get enough funding from grants.
Thorton's is offering drivers environmentally friendly fuel. The gas station is offering E-85 fuel at its store on Fern Valley Road just off of Interstate 65.
E-85 is an alcohol based fuel comprised of just 15% petroleum.
Ethanol can be made from any agriculture feedstock from which starch is derived, such as sugar cane, wheat, or milo.
The Fern Valley Thorton's joins six other stations in Kentucky, Indiana, and Illinois that offer the fuel.
Bardstown has been named one of 50 next great adventure towns in which to live and play by National Geographic Adventure Magazine.
The magazine looked at innovative towns that aren't just great relocation spots, but also a smart choice for the future.
The magazine says Bardstown was chosen because it's the world's bourbon capital, but also because of offerings such as Sympson Lake and a whitewater park that's in the works.
Other cities that made the list are Seattle, San Francisco, and Boston. The issue hit stands Tuesday.
Rising costs for energy, motor vehicles, and other products are driving up wholesale prices.
Wholesale inflation shot up 1.2% in July, more than twice what economists had expected. Prices for the past year are rising at the fastest pace in 27 years.
Construction of homes and apartments fell last month to the lowest level in more than 17 years.
The government says builders in July broke ground on fewer than a million housing units. But that performance was better than Wall Street expected.