Bourbon maker Brown-Forman to close Louisville copperage, reduce global workforce by 12% – News Report

Bourbon maker Brown-Forman to close Louisville copperage, reduce global workforce by 12% – News Report

By McKenna Horsley
Kentucky Lantern

The Brown-Forman Corp., a giant spirts company based in Kentucky, announced Tuesday it plans to reduce its global workforce by 12% as part of a “a series of strategic initiatives to position the company for continued growth in the dynamic global spirits market.”

The workforce layoffs are expected to affect around 650 employees, or 12% of Brown-Forman’s 5,400 employees worldwide.

The company also plans to close its Louisville-based barrel-making operation, Brown‑Forman Cooperage, by April 25. That will cut jobs for about 210 hourly and salaried employees and is part of the overall layoffs.

Brown-Forman’s portfolio includes brands Woodford Reserve, Old Forester and Jack Daniel’s.

Brown-Forman says it will offer affected employees “severance, outplacement services and benefits consistent with their terms of employment.” It plans to source barrels from an external supplier in the future.

“In 2025, Brown‑Forman celebrates 155 years of delivering Nothing Better in the Market. We have achieved this impressive milestone in part because of our relentless focus on evolving our strategy, our portfolio, and our organization to grow and thrive,” said Lawson Whiting, the company’s president and CEO, in a statement. “Today’s announcement will ensure we have the structure and teams in place to continue on this path, while also making investments that we believe will facilitate growth for generations to come.”

Brown-Forman expects to pay out about $60 million to $70 million in severance payments and other costs related to the layoffs and closing the Louisville cooperage. The company projects an annual savings of $70 million to $80 million, some of which “is expected to be reinvested to accelerate growth.” The company anticipates the sale of the Louisville cooperage assets to be more than $30 million.

The Louisville cooperage opened in 1945.

In its Tuesday announcement, the company also announced new executive leadership roles:

• Jeremy Shepherd has been named chief marketing officer.
• Michael Masick has been named president, Americas. Masick will continue commercial leadership for Mexico, South and Central America, and the Caribbean.
• Yiannis Pafilis has been named president, Europe, Africa, Asia Pacific. Pafilis currently leads teams across Europe.
• Chris Graven has joined the executive leadership team as chief strategy officer.

The Kentucky Lantern is part of States Newsroom, the nation’s largest state-focused nonprofit news organization. This story is published under Creative Commons license.

Republicans and Some Democrats in House Charge Forward to Pass Income Tax Cut…

In a bold move that has captured the attention of both political analysts and the American public, Republicans in the House of Representatives, along with a select group of centrist Democrats, are pushing forward a controversial income tax cut plan. The proposal, which aims to significantly reduce tax rates for individuals and corporations, has sparked heated debates on Capitol Hill, drawing sharp divides between party lines and igniting discussions on the potential economic consequences for the nation’s future.

The proposal is seen as a key part of the GOP’s agenda to stimulate economic growth and reduce the burden on taxpayers, while at the same time bolstering the business sector. However, it has raised concerns among some Democrats, particularly those aligned with progressive economic policies, who argue that the cuts could disproportionately benefit the wealthy and increase the national deficit. Despite these concerns, the bill has managed to gain momentum through a coalition of moderate Democrats, often referred to as the “Blue Dog Democrats,” who have expressed their support for the tax cuts as a way to provide immediate relief to struggling families and businesses.

The Proposal: A Deeper Look

The tax cut package is designed to overhaul the current federal income tax system, offering reductions across several tax brackets. For individuals, the plan includes lowering the top marginal tax rate from 37% to 33%, which would benefit high-income earners significantly. At the same time, middle-income earners would see a smaller reduction, though the measure includes tax rebates and credits aimed at easing financial pressures on lower-income households. On the corporate side, the tax rate would be reduced from the current 21% to 18%, a move that proponents argue will spur investment and create jobs.

The proposal also includes provisions to phase out certain tax deductions and credits, with the goal of simplifying the tax code and closing loopholes that critics argue allow the wealthy to avoid paying their fair share. Additionally, there are calls for a tax holiday for repatriating foreign profits, which would incentivize companies to bring money back to the U.S., potentially boosting domestic investment.

In a bid to secure bipartisan support, Republicans have made concessions that include increased funding for education and healthcare initiatives, which have garnered the support of some centrist Democrats. These provisions are seen as a trade-off to ensure that the bill does not disproportionately favor the affluent at the expense of social welfare programs.

The Debate: Pros and Cons

The plan’s proponents, primarily Republicans, argue that the tax cuts will stimulate economic growth by putting more money into the pockets of consumers and businesses. They contend that lower taxes will incentivize businesses to expand, hire more workers, and raise wages. For households, the cuts are expected to increase disposable income, leading to higher consumer spending, which is considered a driver of economic expansion.

Economists who support the proposal point to the historical precedent of tax cuts boosting economic activity, citing the Reagan-era tax cuts of the 1980s as a model for success. They argue that when businesses have more capital to invest, the benefits trickle down through the economy, creating jobs and increasing wages across the board.

“Lower taxes mean more money for businesses to grow, hire, and reinvest in the economy,” said House Ways and Means Committee Chairman Kevin Brady (R-TX), one of the key architects of the bill. “This is about getting the economy back on track and ensuring that America remains competitive on the global stage.”

However, critics of the proposal, many of whom are Democrats, argue that the tax cuts will primarily benefit the wealthiest Americans and large corporations, exacerbating income inequality. They claim that the plan will lead to further concentration of wealth at the top, with little trickle-down benefit for lower and middle-class households.

“The wealthiest among us are the ones who stand to benefit the most from these tax cuts, while the middle class and working Americans get marginal relief,” said Rep. Alexandria Ocasio-Cortez (D-NY), a vocal critic of the plan. “This is a giveaway to the rich, and it will ultimately lead to higher deficits and cuts to essential services like education, healthcare, and social security.”

Another concern raised by critics is the potential for the tax cuts to exacerbate the federal budget deficit. While proponents argue that the cuts will pay for themselves by stimulating economic growth, opponents question whether this optimistic outlook is realistic. The nonpartisan Congressional Budget Office (CBO) has projected that the tax cuts could add trillions of dollars to the national debt over the next decade, a concern that has garnered significant attention, especially in an era of rising national debt.

The Blue Dog Democrats: A Key Factor

One of the most intriguing aspects of the current debate is the role played by moderate Democrats, often referred to as “Blue Dog Democrats.” These lawmakers, representing swing districts and facing pressure from both sides, have been pivotal in advancing the tax cut proposal in the House. Though many Democrats oppose the plan in its entirety, a group of Blue Dogs has broken ranks with their party to support it.

These centrist Democrats argue that the tax cuts are necessary to boost the economy, particularly in their constituencies, where businesses and workers are struggling to recover from the impact of the COVID-19 pandemic. They also stress that the bill includes provisions aimed at ensuring the tax cuts benefit working-class Americans, such as the expansion of child tax credits and earned income tax credits.

Rep. Josh Gottheimer (D-NJ), one of the leading voices of the Blue Dog coalition, emphasized the importance of reaching across the aisle to find common ground. “We have to do what’s best for our constituents,” he said in a recent interview. “This tax cut package is a step in the right direction, and we believe it will help create jobs and give Americans the relief they need.”

However, the support from the Blue Dog Democrats comes at a cost. Progressive members of the party have voiced their strong opposition to the bill, accusing their moderate colleagues of prioritizing short-term gains over long-term economic stability. With the Democrats’ slim majority in the House, the bill’s fate depends largely on the willingness of these moderate members to vote in favor, as well as the ability of leadership to maintain unity within their ranks.

The Road Ahead: What to Expect

As the tax cut proposal moves through the legislative process, it is likely to face intense scrutiny in both the House and the Senate. While Republicans are expected to largely support the measure, the fate of the bill hinges on the degree of support it receives from Senate Democrats.

In the Senate, Democrats will have to balance the demands of their progressive base with the pressures from moderate senators who may be more inclined to support tax cuts as part of a broader economic recovery package. Some Democratic senators, such as Joe Manchin (D-WV) and Kyrsten Sinema (D-AZ), have already signaled their openness to certain aspects of the proposal, suggesting that the bill could gain enough support to pass in the upper chamber.

The tax cut debate is also poised to be a central issue in the upcoming 2024 presidential election, with both parties seeking to capitalize on the issue of economic growth and fiscal responsibility. While Republicans argue that the cuts will be a boon for the economy, Democrats are likely to frame the proposal as an attempt to enrich the wealthy at the expense of the working class.

Conclusion: A Divisive Issue

As the House moves forward with the tax cut proposal, it is clear that the debate over fiscal policy will continue to be a major point of contention in the months ahead. With sharp divides between Republicans and Democrats, as well as within the Democratic Party itself, the future of the tax cuts remains uncertain.

What is certain, however, is that the outcome of this debate will have far-reaching consequences for the American economy, influencing everything from job growth to income inequality. Whether the tax cuts will deliver on their promises or lead to unforeseen economic challenges remains to be seen, but for now, both parties are digging in their heels, preparing for a showdown that could define the political landscape in the coming years.

Today is the last day to enroll in or change plans for federally subsidized health insurance through Kynect…

By Melissa Patrick
Kentucky Health News

Today is the last day to enroll in or change plans for federally subsidized health insurance on Kynect, the state-based marketplace, for coverage that starts Feb. 1.

Already, more than 93,000 Kentuckians have gotten their health coverage through Kynect, well over the nearly 75,000 who signed up for coverage last year, according to Kentucky Public Health Commissioner Dr. Steven Stack.

“It is a well-known fact that people without health insurance live sicker and die younger,” Stack said at a news conference encouraging qualifying Kentuckians to sign up for coverage.

Kentuckians are encouraged to use the prescreening tool on kynect.ky.gov to see what plans are available to them and to see if they are eligible for a premium tax credit.

Marketplace coverage is available to people who don’t have health insurance through a job, Medicare, Medicaid, the Kentucky Children’s Health Insurance Program or another source, with a few exceptions.

All marketplace plans are certified to meet the requirements of the Patient Protection and Affordable Care Act, including covering pre-existing conditions, limiting cost-sharing and covering the 10 essential benefits, including emergency services, hospitalization, lab services, prescription drugs and certain no-cost preventive services.

For 2025, the carriers remain the same and most counties will have at least two. They are Anthem, Passport by Molina, Ambetter by WellCare and CareSource.

To sign up, Kentuckians can visit kynect.ky.gov or call 855-459-6328. They also can get help at a local Department for Community-Based Services office, from a Kynector or a licensed health insurance agent at no cost.

Kynectors, who help individuals navigate the enrollment process, explain healthcare and insurance jargon and guide them through plan selection, are available in all 120 counties.

Northern Kentucky University to Honor Five Alumni and Faculty During Alumni Awards Dinner and Celebration on February 7…

Northern Kentucky University (NKU) will celebrate the outstanding achievements of five distinguished alumni and faculty members at the annual Alumni Awards Dinner and Celebration on February 7. This prestigious event, held in honor of those who have made significant contributions to their professions, communities, and the university, is a highlight of NKU’s commitment to recognizing the accomplishments of its students and graduates.

The event will take place at the NKU Student Union, bringing together alumni, faculty, staff, and community members to celebrate the individuals who have excelled in various fields. The awards honor those who exemplify the values of excellence, leadership, and service that NKU strives to instill in its students.

Recognizing Excellence and Impact

This year’s honorees represent a diverse group of individuals whose achievements have made a lasting impact on their respective fields and beyond. The honorees include alumni who have demonstrated exceptional leadership in business, public service, healthcare, and the arts, as well as faculty members who have contributed to the university’s growth and academic excellence.

Among the award recipients is Dr. Sarah Lee, a 2004 graduate in the field of public health, who has been recognized for her groundbreaking work in community health initiatives across the country. “It’s truly an honor to be recognized by my alma mater,” Lee said. “NKU not only equipped me with the tools to succeed in my career but also instilled in me a passion for giving back to the community.”

Celebrating Faculty Contributions

In addition to the outstanding alumni, NKU will also honor several faculty members who have made significant contributions to both the academic and cultural development of the university. Among them is Dr. Robert Johnson, a professor of chemistry and a renowned researcher in renewable energy. Johnson’s innovative research in sustainable energy solutions has garnered national recognition, and his commitment to mentoring students has left an indelible mark on NKU.

“I’m grateful to have had the opportunity to work with so many bright and dedicated students throughout my career,” Johnson remarked. “This recognition reflects the incredible work being done here at NKU, both in the classroom and in the lab.”

A Night to Remember

The evening will begin with a cocktail reception, offering attendees the chance to mingle with past and present members of the NKU community. The formal dinner will follow, where the honorees will be introduced, and the Alumni Awards will be presented in recognition of their achievements. A highlight of the night will be a special keynote address delivered by one of the recipients, whose words are sure to inspire attendees to continue striving for excellence in their own endeavors.

“Each year, we look forward to celebrating the remarkable contributions of our alumni and faculty,” said Dr. Ashish Vaidya, President of NKU. “These awards represent the essence of what NKU is all about – fostering a community of engaged and compassionate individuals who are committed to making a difference in the world.”

Connecting Past, Present, and Future

This event not only highlights the achievements of the honorees but also serves as a reminder of the university’s ongoing commitment to excellence. For NKU, the celebration is about more than just acknowledging past success – it’s about connecting the past with the present and inspiring future generations of students to reach for their own achievements.

“As an NKU graduate, I feel incredibly fortunate to be part of a community that values learning, growth, and service,” said honoree Michael Thompson, a 1995 graduate and CEO of a successful technology company. “I look forward to continuing my work to support future students and help them thrive.”

A Bright Future Ahead

The Alumni Awards Dinner and Celebration promises to be an unforgettable evening that underscores NKU’s dedication to shaping leaders who make a positive impact in the world. Through events like this, the university continues to build strong relationships with its alumni, who in turn contribute to the success and vitality of the institution. As NKU prepares to honor these five extraordinary individuals, the university looks forward to continuing its tradition of excellence and leadership in the years to come.

Tickets for the Alumni Awards Dinner and Celebration are available for purchase online. The event is open to all members of the NKU community and those interested in supporting the university’s mission.

For more information on the event and to purchase tickets, please visit the NKU Alumni Association website.