Kentucky Center for Investigative Reporting (https://kycir.org/category/business/page/2/)
We reviewed 11 college endowments in Kentucky and found a significant variation in investment returns. The state’s largest endowments posted lower average returns after putting donors’ cash in exotic, expensive and risky funds.
As the Kentucky Community & Technical College System eliminates 506 jobs, it disclosed that it paid $815,741 last year to former president Michael McCall.
Among more than 320,000 offshore accounts and trusts unveiled in a Panama Papers database Monday are a handful of accounts with names similar to Kentucky entities, and a few registered to addresses in the commonwealth.
The firm, one of the oldest in the country, will pay a $175,000 fine and refund $328,491 to customers who were billed for excessive sales charges between 2009 and 2014.
PharMerica Corp., the Louisville-based company and one of the nation’s biggest providers of drugs to nursing homes, closed out its 2015 by agreeing to write another large check to the government to settle a lawsuit accusing it of defrauding federal health care programs.
The foundations of pizza magnate John Schnatter and businessman Charles Koch have donated a combined $12 million to create a “free enterprise” teaching institute at the University of Kentucky. The donation, one of the largest in UK history, is double what the two groups made earlier this year to set up a similar program at the University of Louisville.
PharMerica Corp., the Jeffersontown-based supplier of drugs to nursing homes, has agreed to pay $9.25 million to settle civil claims that it took kickbacks to boost sales of an anti-seizure drug.
Already home to one of the most underfunded public pension plans in the nation, Kentucky Retirement Systems is losing further ground through its investment choices.
Following media reports last year, Kentucky Retirement Systems promised more disclosure. Now, the pension plan for public employees is reporting its annual investment expenses are running 75 percent higher than reported in previous years.
House Speaker Greg Stumbo has pledged to propose a constitutional amendment to allow as many as seven casinos to open in Kentucky. In announcing his proposal, Stumbo cited KyCIR’s examination of tax revenues from eight casinos just across state lines on the north bank of the Ohio River.