By Jim Jordan
\nThe advance is young and in spite of the current bearish grip on the overall market, LXK is on a mission to fill that gap and that point is roughly 12 percent higher.Longtime customers of Norwalk, The Furniture Idea will see a familiar face when the Hamburg Place store reopens July 8 under new ownership.
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\nKellie Clarke, who managed Norwalk’s Lexington outlet for 10 years before leaving four years ago, has bought the franchise in partnership with Tawana Palmer of Winchester.<\/p>\n
The store was closed unexpectedly in April by the previous franchise owner, leaving 82 unfilled orders that Norwalk Furniture Corp. is now working to complete.<\/p>\n
Clarke said she was at the Kentucky Derby when she ran into a furniture sales representative she hadn’t seen since her Norwalk days. ‘Why don’t you buy that store?’ the sales rep asked, and the idea took root.<\/p>\n
She and Palmer formed K&T Interiors Inc. and bought the franchise.<\/p>\n
Customers are still loyal to Norwalk, Clarke said. She was working at the store last week and ‘we had eight customers come in,’ she said. ‘We weren’t even open.’<\/p>\n
Unbridled branding<\/p>\n
No doubt you’ve read that Alltech paid $10 million last week to put its name on what is now the Alltech FEI Games Kentucky 2017.<\/p>\n
As he prepared to present the check, Alltech President Pearse Lyons reeled off a series of ‘firsts’ for the 2017 games: first time the games will be held outside Europe, first time they will be held in Kentucky, first time they will be branded and …<\/p>\n
‘This is the first time I will ever give a check for $10 million to anyone.’<\/p>\n
Why do it?<\/p>\n
‘Perhaps,’ Lyons smiled, ‘I got caught up a little in that unbridled spirit.’<\/p>\n
Sticker shock<\/p>\n
As he awaited the start of the first Pedals and Blooms Festival bicycle race recently, Joe Bowen predicted that the competition would be an eye-opener for non-bicycle riders in the Stanton-Beattyville-Red River Gorge areas where the 80-mile race was being held.<\/p>\n
Bowen, 63, had just returned to Stanton after his second 14,000-mile crossing of the United States. He noted that the competitors are serious athletes with bicycles that are ‘precision-built’ for each rider.<\/p>\n
Their bicycles often cost $4,000 to $6,000 or more, he said.<\/p>\n
‘This community has never seen bicycles like this,’ Bowen said as he nodded toward the pack of racers. ‘This is almost culture shock.’<\/p>\n
Up, up, up for Lexmark?<\/p>\n
Lexmark International’s shares have made some nice gains lately, notes Jack Rothstein in his column The Guru’s Corner at Wealthcast.com.<\/p>\n
‘This is a leading stock this year, up over 20 percent thus far,’ he wrote last week.<\/p>\n
The Lexington company saw its shares top out at $97.50 in June 2004 before beginning a slide that included a one-day drop in September to $43.50 from $60.50. It has since rebounded to about $55 a share.<\/p>\n
‘The advance is young and in spite of the current bearish grip on the overall market, LXK is on a mission to fill that gap and that point is roughly 12 percent higher,’ Rothstein says.<\/p>\n
He advises investors to wait for a ‘pullback’ and buy Lexmark between $52.50 and $53 a share. ‘Place the stop at $50.75 for a trade,’ Rothstein says.<\/p>\n
He didn’t say when he expects the pullback to begin. The way this stock is moving, it might be a while.<\/p>\n
Copyright \u00c2\u00a9 2013 Lexington Herald-Leader, All Rights Reserved.<\/p>\n","protected":false},"excerpt":{"rendered":"
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