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Showing posts with label Corporex. Show all posts
Showing posts with label Corporex. Show all posts

Friday, June 1, 2012

"UNPRECEDENTED SUPPORT" FOR COVINGTON'S DESIRED CHANGES ON BRIDGE PROJECT

THE RIVER CITY NEWS MORE COVINGTON NEWS THAN ANY OTHER SOURCE
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by Michael Monks 
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The City of Covington expressed its gratitude Friday for the outpouring of support from surrounding communities, elected officials, and various civic organizations as it hopes to see changes implemented to the preferred design of the Brent Spence Bridge project. That design, noted as "Alternative I", currently inhibits access to Downtown Covington and several other key areas within the city, a proposal so serious that "the death of Covington" was predicted at multiple public forums. However, Covington's rallying cry has been heard and answered. 
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“The citizens and businesses of Covington are most appreciative of the unprecedented level of support from a broad range of political, business, civic and other community leaders from the region for the City’s concerns and requests related to the proposed Alternative I plan for the Brent Spence Bridge project," Covington City Manager Larry Klein said in a news release. "It 
seems nearly unanimous that good access to our City for current and future residents, businesses and visitors is recognized as critical to the success of our City.” 
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The Kentucky Transportation Cabinet accepted public input on the matter through last Friday, May 25. The City had hosted multiple public forums to express concerns that the current preferred design of the long-awaited Brent Spence Bridge project does not offer direct access to Covington's Fifth Street exit when traveling northbound on Interstate 75, an important access route Covington's Downtown, riverfront, and Mainstrasse entertainment district. The plan, as it stands now, would require drivers to the Twelfth Street exit and then travel a new, one-way, local road through several traffic lights to reach those areas. 
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Additionally, while access to Fifth Street (and Ninth Street) would be available for southbound drivers on Interstate 75, the decision point to make that exit would be located one mile north of the river near the Cincinnati Museum Center. If a driver were to miss that opportunity, the only chance to come to Covington would require exiting at Kyles Lane in Fort Wright. There would be no opportunity to exit into the City when it becomes visible to drivers. 
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Also of concern was the elimination of access to Devou Park at Lewis Street and the effect the project may have on Goebel Park in Mainstrasse. Joining the Covington City Commission in publicly voicing support for the city's hoped-for changes in this bridge battle were United States Senators Mitch McConnell and Rand Paul, United States Congressman Geoff Davis, the Kenton County fiscal court, the City of Newport, the City of Ludlow, Taylor Mill Mayor Dan Bell, the City of Bellevue, the Transit Authority of Northern Kentucky (TANK), the Northern Kentucky Area Planning Commission, the Northern Kentucky Area Development District, the Northern Kentucky Chamber of Commerce, the Tri-County Economic Development Corporation (Tri-Ed), Vision 2015, the Covington Business Council, the Northern Kentucky Convention & Visitors Bureau, Corporex, the Cincinnati Marriott at RiverCenter, the Behringer-Crawford Museum, the Kenton County Public Library, the Kentucky Symphony Orchestra, and the Drees Pavillion in Devou Park.
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SEE EXCERPTS FROM THE LETTERS AND OFFICIAL RESOLUTIONS BELOW

Friday, May 11, 2012

DESIRED BRIDGE CHANGES FOR COVINGTON BACKED BY SENATOR, CITIES, ORGANIZATIONS

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THE RIVER CITY NEWS MORE COVINGTON NEWS THAN ANY OTHER SOURCE
by Michael Monks 
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Covington's demands that modifications be made to the preferred design option for the Brent Spence Bridge project is now backed by Senator Rand Paul and the Cities of Newport and Bellevue. In a press release issued by the City of Covington Friday morning a growing list of formal supporters of the changes was detailed: 
City of Covington Board of Commissioners, Northern Kentucky Chamber of Commerce,  Kenton County Fiscal Court, Northern Kentucky Tri County Economic Development Corporation, Covington Business Council, Northern Kentucky Convention and Visitors Bureau, Corporex Companies, Marriott Hotel, Kenton County Public Library, Northern Kentucky Area Planning Commission, Kentucky Symphony Orchestra, The Drees Pavilion, Northern Kentucky Area Development District, Senator Rand Paul, Northern Kentucky Convention Center, City of Newport, City of Bellevue, Behringer-Crawford Museum in Devou Park. 
City Manager Larry Klein said, “The outpouring of community support across all business, political, civic and other boundaries is overwhelming and speaks volumes to the recognition by stakeholders and residents and businesses of Covington to the critical importance of good access to our City.” 

(SEE ALSO: Covington Raises Voice in Bridge Battle)
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Read the full press release below: 

Wednesday, March 28, 2012

NEWS ROUND-UP -- WEDNESDAY AFTERNOON 28 MAR

by Michael Monks 
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THE RIVER CITY NEWS MORE COVINGTON NEWS THAN ANY OTHER SOURCE
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BILL BUTLER HOSTS FUNDRAISER FOR GARY MOORE
The leader of Corporex hosted a fundraiser for Republican Boone County Judge-Executive Gary Moore and his campaign for Congress. From Page One Kentucky in a post titled Is the donor class waking up in 4th District race?
Hosts included two county-wide elected officials: Rothenberger from Shelby County and Pendrey from Campbell. The Griffin Family, which gave about $70,000 to the Republican Party of Kentucky last year appears to be solidly on board. The Cain Family contains both prominent Republicans and Democrats. Julie Hopkins is general counsel at Ashland Inc. Bill Toebben, Bob Elliston (Turfway), John Yeager (real estate). 
See the invitation at the link as well as a mention of a former Covington City Commissioner that appears to be helping a difference candidate in the race. 
Page One Kentucky  
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SEE ALSO: Rep. Geoff Davis was vague about whether he would endorse a candidate in the 4th District primary, but did offer support to candidates in two other races: the Presidential primary and the 23rd district state senate primary cn|2 
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SEE ALSO: Davis led the NKY Chamber on a tour in DC today. See the pic here
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COVINGTON COMPANY AWARDED $51 MILLION CONTRACT FOR ROAD WORK
The expected delays on local interstates mean big bucks for a Covington business according to a state press release: 
“Revive the Drive – NKY,” a wide-ranging initiative to make badly needed bridge and highway repairs and improvements across Northern Kentucky, is entering a critical new phase with pavement rehabilitation projects on Interstates 275 and 471 in Campbell County. Both will have a great impact on traffic.

I-471 will undergo total pavement replacement in a 5.7-mile corridor used by more than 100,000 vehicles a day. Work crews will be removing the original concrete pavement of I-471, which was constructed in the latter 1970s, and replacing it with asphalt.

Eaton Asphalt Paving Co. Inc. and Subsidiary, located in Covington, Ky., was awarded the contract on a low bid of $51 million. 
From the Enquirer: 
“If you’re going to drive (Interstate) 471 or 275 this summer, think about taking an alternate route: that’s the best advice that I can give anyone, because of the congestion that’s going to occur,” said Bob Hill, highway safety coordinator for Kentucky Transportation District 6 in Fort Mitchell. 
Cincinnati Enquirer/Amanda Van Benschoten  
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FRANKFORT HEADLINES
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Gov. Beshear calls on lawmakers to pass budget WKYT 
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Speaker Stumbo says budget talks have stalled WFPL
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Budget negotiators make little progress Courier-Journal 
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Lawmakers wrangle over debt in state budget Bluegrass Politics 
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As a former teacher, Sen. Jack Westwood has fought for career training bill cn|2 
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Senate makes more changes to roads bill WFPL 
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Senate panel may vote on death penalty task force WTVQ 
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Senate proposes changes to unemployment insurance loan repayment plan WFPL 
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Attorney General Jack Conway announces $2.75 million settlement with drug company press release 
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Taiwan donates $30,000 to Kentucky tornado relief effort press release
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THE RIVER CITY NEWS MORE COVINGTON NEWS THAN ANY OTHER SOURCE
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'FOR VETERANS ONLY' NEEDS YOU HELP
South Covington's Ron Lawson is seeking help from the public in preserving and continuing For Veterans Only, a long-running program that he produced and that eventually found itself broadcast around the country to more than a million viewers per week:  
In 2012, the Department of Defense Vietnam 50th Commemoration will also have complete access to the FOR VETERANS ONLY ARCHIVES AND LIBRARY. We need you to help us spread the work about this great project. And we need your monetary support....any amount will help assure the project completion and success.
Our projected budget to archive the materials is just over $40,000 for digitizing the videotapes and making DVD copies for the complete collection. But our immediate need is around $700 as we have to purchase proper storage containers and move the entire collection to start the process of duplication and documenting the videotape for the archival library. 
For more information on Lawson's efforts, click here.

FRANKFORT ACKNOWLEDGES NEW GROCERY IN LUDLOW
From a press release: 
Lieutenant Governor Jerry Abramson joined local and state leaders for the presentation of a $500,000 Community Development Block Grant (CBDG) used to help purchase needed equipment for the new grocery store.
“This project is about more than opening a new grocery for the Ludlow community,” Gov. Beshear said. “It is about creating a quality downtown environment that enhances the community’s character, generates more jobs and attracts new business to the area.”
The city of Ludlow did not have its own grocery store, which forced residents to travel to the surrounding towns of Fort Mitchell, Covington or Fort Thomas to do their grocery shopping.
The Riverside Market will not only provide the Ludlow community with local access to grocery products, but it also will create up to 30 new jobs in the area. The new supermarket also will provide a fuel center for area citizens. 
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in case you missed it...
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THIS MORNING'S NEWS
A school board meeting tonight could attract larger than usual crowd; A UK fan offers his wife in exchange for tickets to Saturday's game; Plus, the springtime photos series continues with a trip to Licking Riverside. Click it. 
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HOW NKU BECAME AN 'ENGAGEMENT CAMPUS'
Outgoing President Dr. James Votruba literally wrote the book on it: 
NKU has carefully and systematically constructed a commitment to public engagement into the university’s mission, strategic plan and promotion/tenure guidelines. A newly released report, “Public Engagement: The Community is Our Classroom,” profiles that commitment and includes 101 examples of public engagement at NKU. 
Kentucky Forward  
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WHERE IN COVINGTON AM I?
Are you playing the new game at The River City News Facebook page? Several times a week, fans at the Facebook page will see a photo and will guess where in Covington the photo came from. If you are not yet a fan on Facebook, click here and join in! Here are a few of the examples... 


...the answers are at the Facebook page
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QUICKIES...
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New photos of the work going on at CVG's Concourse A Click Here 
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Mega Millions jackpot grows to $500 million! NKY Spot 
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Louisville's Seelbach wins hotel of the year Business First 
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        FINAL FOUR LATEST
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With the most highly anticipated sporting event in Kentucky history on the horizon, leave it to a US Senator to put everyone to sleep while talking about it: 

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zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
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McConnell has nothing on the more raucous US House where Reps. Yarmuth and Chandler waved some flags on some steps Bluegrass Politics 
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Random roadside merchandise salesman pops up in Crescent Springs Cincinnati Enquirer 
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Coach Cal wants to win a title for the players and for the fans Coach Cal 
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Interesting... Why you should feel sorry for UK fans: 
This should be a moment of elation for Kentucky fans. Their team plays a ruthlessly beautiful brand of basketball. Their starting lineup is better than the New Jersey Nets. And yet there is something lurking underneath: A sense that winning is, in its own odd way, making UK's fans miserable. Their expectations of triumph—be it recruiting battles or tournament games—has hardened into a coarse entitlement. It's gotten to the point where even a championship will feel like anticlimax. 
Wall Street Journal  
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Another recruiting coup for UK? CBS 
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Former UK coach Billy Clyde Gillispie says the UK staff would be run out of town if the Wildcats fall to Louisville Wildcat World 
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Louisville boasts the highest ratings for the NCAA Tournament Business First
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HIP HOP 101 AT THE CARNEGIE
From the Carnegie: 
Students in the Scripps Howard ArtStop workshop, "Hip Hop 101 with Pones, Inc." rehearse their dance performance. Scripps Howard ArtStop workshops are open to children ages 7-15 and offer a wide variety of after school arts programs. 
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Help Northern Kentucky land a social media convention. Click Here 
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33 IS THE HAPPIEST AGE YOU WILL EVER KNOW
So says a new survey: 
A British website, Friends Reunited, says that 70% of people over 40 picked that age as their happiest.
Were you happiest at 33?
New York Daily News

Tuesday, January 10, 2012

TIER 1 MOVE TO RIVERCENTER TOPS COMMISSION AGENDA

by Michael Monks 
NEW ADDRESS: Email Michael
Find us on Facebook: The River City News @ Facebook
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Some good economic news will emerge from Tuesday night's Covington City Commission meeting. On the agenda is approval of a commitment to a 1% occupational tax rebate for Tier 1 Performance Solutions which plans to relocate from 5th Street offices (at the Grand) to one of the RiverCenter towers. When reached by telephone two weeks ago, no one at Corporex was willing to confirm the news to The River City News and the leader of Tier 1 wanted to wait until the deal was final. The move is expected to offset a good chunk of Omnicare's abandoned space.
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Also on the agenda to be voted on:
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  • a property assessment moratorium for BC Investors for the property at 603 Main Street. BC Investors is the organization that plans to open a Goodfellas Pizza in Mainstrasse. It was voted the best pizza in Lexington where there are two locations. This will be the group's first location outside of that city and will be an awesome addition to Mainstrasse. The River City News broke this story -- read more at the link: Lexington's Goodfellas Pizza to Open in Mainstrasse
  • Reimbursement of funds ($228,553) to Covington Iron Works, LLC for Stewart Iron Works relocation (payable from CDBG funds)
  • Accepting the $400,000 bid by Mark Spaulding Construction for the Devou Park bandshell restroom/concessions facility (payable from Devou Park master plan funds)
  • Approval of the Linden Grove Cemetery master plan; 
  • Purchase of a new Ford Expedition to be part of the fire department's fleet ($37,891)
  • A lease agreement with TANK for the parking lot under the Clay Wade Bailey Bridge
  • City will offer condolences to the family of Shirley Fry, longtime clerk in the police department, who recently passed away
  • The commission will vote to recognize January 16 as the Martin Luther King, Jr holiday
Sadly, Mayor Chuck Scheper is not expected to attend tonight's meeting following the death of his mother-in-law. Our condolences are with the Mayor & Mrs. Scheper during the difficult time.

Saturday, November 12, 2011

SATURDAY MAGAZINE



  The
  Saturday
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  12 NOVEMBER 2012
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MIDTOWN GROCERY STORE SHAKE-UP
SUPERVALU CLOSES FOR RENOVATIONS ON MADISON, WILL OPEN NEW LOCATION IN LUDLOW; PARENT COMPANY ALSO OWNS SAV-A-LOT ACROSS STREET
Signs read Closed For Remodeling
at Covington SuperValu
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Only one large grocer remains in Covington's midtown, the Kroger on Madison. According to a sign posted on its door, SuperValu has closed for renovations. It is also constructing a similarly-sized location in Ludlow (The Ludlow Community Connection reports that that location will open in January). The gas station and tobacco outlet at Covington's SuperValu remain open. The large national chain lost $1.5 billion last year according to the company's annual report. SuperValu also owns the Sav-A-Lot chain of discount grocers which has a location on Madison as well.

Sign at bottom says tobacco outlet and gas
station are still open

Construction of grocery store in Ludlow





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DUKE ENERGY PAYMENT CENTER NOW
       AT FASHION STORE         
Image via
Covington's only Duke Energy payment center was inside the SuperValu store that is now closed for remodeling. According to Duke's 
website, the new location is A&E's Fashion & Beauty Supplies at 812 Madison Avenue (the company's Facebook page says that 
it sells clothes, hair, and cigarettes). This marks the fifth different payment center since 2005 for Duke's customers in Covington. The old center was on 4th Street but was torn down where the newer 5/3 Bank branch now stands. When that one closed,
Duke customers had to go to the Newport Shopping Center and when that one closed, Covingtonians had to cross the Clay Wade Bailey Bridge and pay in Queensgate. When that one closed, we were back to paying in Covington at the SuperValu, which is now closed (at least temporarily). Of course, if you pay your bill by mail, this is irrelevant. 
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BUSINESS COURIER: 
MADISON PLACE FACES FORECLOSURE, 
CORPOREX COUNTERSUES; OMNICARE FACES CLASS-ACTION LAWSUIT
The stories are only available to Business Courier subscribers or to customers who pick up the print edition, unless you sing up for a FREE subscription that is good until tomorrow (find that option at the links).
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BUTLER BLAMES BANK FOR NIELSEN'S DEPARTURE
Covington's Madison Place, a 290,000 square foot office tower with multiplie million-dollar penthouses on top, faces foreclosure along with two other Corporex properties in Erlanger and Tampa. Corporex Chairman Bill Butler blames Bank of America for the loss of The Nielsen Company which will reportedly move from Madison Place to Cincinnati's Chiquita Building early next year:

He believes Corporex could have kept the market research firm and its roughly 500 employees if Bank of America would have worked with the company on refinancing.“We needed the cooperation of the bank to meet the terms and conditions of Nielsen to stay and the bank wouldn’t cooperate,” Butler said.Corporex wanted to start conversations with Bank of America about the Madison Place loan in August 2009, according to the counterclaim. However, the bank said Corporex and its affiliates should put off discussions because of the recession’s impact on real estate valuations, according to Corporex’s counterclaim.
Butler and Corporex are countersuing Bank of America for damage to the company, arguing that BOA always intended to sell the loans:
In mid 2010, Corporex and its entities started negotiating with Bank of America on all three loans, since the maturity dates on all three were coming up, according to the counterclaim.Corporex had sought out other lenders to refinance its loans, in particular the Olympic II building in Erlanger. The lender Corporex was working with offered a loan with a 7 percent interest rate, which Butler said was expensive.“They (Bank of America) told us, ‘We can do better,’” he said. So Corporex continued to try to come to terms with the bank, he claims.During the time Corporex was negotiating with Bank of America, it discovered the bank planned to sell its loans as part of a roughly $880 million portfolio of commercial mortgages at a discount of 20 percent to 25 percent, according to a September Wall Street Journal article. Three of the loans, totaling $47 million, were Corporex’s, Butler said. 
You MUST read the entire article here: Business Courier
Madison Place
OMNICARE FACES CLASS-ACTION LAWSUIT

In other bad news involving companies about to bolt from RiverCenter, Omnicare (which will move to Cincinnati in December) faces a class-action lawsuit:

The plaintiffs are two institutional investors – the Florida-based Jacksonville Police and Fire Pension Fund and the Texas-based City of Austin Police Retirement System – and, in a separate suit, an individual, Paul Ansfield. They claim that they and “others similarly situated” lost money by investing in Covington-based Omnicare from Jan. 10, 2007, to Aug. 5, 2010.“While the company was trying to publicly distance itself from the pervasive fraudulent conduct that afflicted it, Omnicare continued to engage in similar machinations during the class period that had repercussions on the company’s financial results – misleading investors about the company’s income,” the plaintiffs allege.The plaintiffs didn’t specify how much they’re seeking in compensation. The institutional investors claim to have lost, collectively, $343,000.
You MUST read the entire article here: Business Courier
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MAJOR PROPS TO THE CINCINNATI BUSINESS COURIER FOR ITS DAILY DOSE OF BREAKING NEWS, AND PARTICULARLY ITS AHEAD-OF-THE-CROWD INFORMATION INVOLVING COVINGTON'S LARGE COMPANIES THAT WILL BE MOVING OUT OF THE CITY. GOOD JOURNALISM LIVES AT THE BUSINESS COURIER.
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DID LEXUS RIVERCENTER HIRE THE CREEPY VOICE GUYS FROM NATIONAL WEATHER SERVICE TO DO THEIR ONLINE VIDEO COMMERCIALS?
It sure sounds like it:
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It sure does sound an awful lot like this guy (voice starts at :20):
Nice work if you can get! (Nice cars too!)
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ANOTHER RESTAURANT FROM COVINGTON OPENS   
        LOCATION IN HYDE PARK
Following the lead of Cock & Bull, Keystone Bar & Grill opened a new location in Hyde Park. Check out the photos here: Keystone Hyde Park @ Facebook
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The Baker Hunt Art & Cultural Center Winter Light Series is tonight at 7:00PM, featuring singer-songwriter Tim Lake. Tickets are $7. Details? Click here.
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SPORTS:
Holy Cross scores its third straight football shutout, 45-0 over Owen County, moves on to play defending state champ Newport Central Catholic in next round of playoffs.
Kentucky basketball season started last night with a 50-point win for the Wildcats over Marist, 108-58.
NKU's defending national champion men's soccer team advanced to the next round of the playoffs.
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HUMOR:
cincinnati's the banks to have NKY theme
This article has been online for a while, but it's still worth a chuckle. Derf Magazine is sort of a local "Onion". Check it out here: Derf Magazine.
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colbert laments the loss of kentucky-based dippin' dots

Watch the hilarious video here: Huffington Post
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                  SEE YOU TOMORROW FOR THE SUNDAY EDITION!