Most Active Stories
- Next WUKY Phoenix Friday is TODAY!... with Englishman, Small Batch & Saintseneca!
- Fresh Housing Numbers, New Eatery On Richmond Road, & West Sixth News On BizLexChat
- Robert Plant "lullaby and … The Ceaseless Roar"
- Pop Bottle Bombs Found At Area High Schools, Student Activities Canceled
- Satirical Senate Campaign After Laughs, Real Reforms
Thu August 19, 2010
Keeneland Offers Buyouts, Cites Down Economy
By Associated Press
LEXINGTON, Ky. – Keeneland Association, the 74-year-old Lexington racetrack and Thoroughbred auction house, is offering buyouts to some long-time employees, but the number and nature of the offers hasn't been disclosed.
Many of the buyout offers have been made over the past few months to full-time employees in maintenance and security. The employees have until the end of August to accept.
Keeneland spokesman Jay Blanton says the buyouts are the result of the global economic downturn that's lingered for nearly two years.
Keeneland's auction of Thoroughbred yearlings and auction of Thoroughbred breeding stock have been hit by the downturn. Keeneland's sales receipts were down by almost 34 percent in 2009, falling by more than $200 million from 2008.
Copyright 2010 by The Associated Press. All Rights Reserved