PAG E A 5
T H E S TAT E J O U R N A L
M AY 14 , 2 012
Farmers Capital Bank Corp. announced that its Board of Directors
elected R. Terry Bennett as its chairman after its annual meeting of
Bennett succeeds Frank W. Sower
Jr., who retired from the board effective with the end of his elected term.
He had served as chairman since
Bennett is an attorney in private
practice in Hardin County. He has
served as a director of First Citizens
Bank, a subsidiary of Farmers Capital Bank Corp., since 1993, including
serving as its chairman since 2010.
He is also the public liaison between
Fort Knox and Hardin County for the
Base Closure and Realignment Act.
The Board of Directors also elected J. Barry Banker as its vice chairman. Banker has served as a director since 1996. He is the manager of
Stewart Home School, a boarding
school for special needs individuals.
He brings extensive ﬁnancial, management, marketing, operational,
and strategic planning experience
to the board.
Fred N. Parker, David Y. Phelps
and Charles Frederick Sutterlin
were also elected as directors to the
Parker is the president and CEO
of Kentucky River Coal Company.
He holds professional designations
in both accounting and ﬁnance. He
has served on the boards of Boys
Scouts of America, Bluegrass Council, Foundation for Drug-Free Youth,
and the University of Kentucky Mining Engineering Foundation.
Phelps is the president and CEO
of CreoSalus, a peptide science company. He is an innovator and holder
of numerous patents. He graduated
from Georgia Institute of Technology and the Harvard Business School.
He serves on the board of Speed Scientific School, the Louisville Research and Technology Development Forum, the Downtown Development Corporation of Louisville
and KidsTech. He was a recipient of
the Ernst & Young Entrepreneur of
the Year Award.
Sutterlin is the managing principal and general counsel of PRG Investments. His background is in law,
real estate, banking and small business. He holds a bachelor’s in economics from Washington and Lee
University and received his Juris
Doctor from the University of Louisville School of Law. He is a member of the International Council of
Shopping Centers; a member of the
American, Kentucky and Louisville
Bar Associations; a member of the
National and Kentucky Association
of Realtors and a founding principal
in the Pinnacle Capital Partners.
at Palmer Tire
Palmer Tire, 301 Versailles Road,
will host a summer kick-off cookout
on Saturday beginning at 8 a.m. The
business will also draw for someone
to win a Hot Rod grill at the event.
The community is invited.
In celebration of their remodeled properties, the new owners
and management team of Leawood
Townhomes are hosting a community event from noon until 3 p.m.
There will be live music by the
band Silo, free food, drinks and prizes. Froggy 104.9 radio will be on site
The community is invited to tour
the town homes. Move in specials
will be available for Saturday’s applicants.
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on the latest in local business
news, The State Journal wants
to hear about new businesses,
growing businesses and the latest successes for business people.
To contact The State Journal with any business news,
e-mail Keren Henderson at
Glenn Toyota general manager Eric Clark (center) and owner Mike Tewell (holding the scissors) gather with employees and supporters for a ribbon-cutting
ceremony Tuesday to debut Glenn Toyota’s 12,000 square-foot expansion.
Toyota expansion complete
April was second-best sales month for 14-year dealership
BY LAUREN HALLOW
f there are any doubts
that the automobile industry is on the road to
recovery, just look at
Glenn Toyota Frankfort.
Last Tuesday – the dealership’s 14th anniversary in
Frankfort – employees debuted a 12,000 square-foot
expansion that includes
additional service spaces,
a remodeled lobby and a
larger customer lounge area.
The expansion, which
brings the building’s total
square footage to 30,000,
allowed the dealership to
more than double its inventory and bring on additional sales staff and technicians to accommodate
the anticipated new business.
“Over the last three
years, Toyota’s definitely
had its struggles, with the
recalls, the tsunami and
the earthquakes,” manager Eric Clark told The
State Journal. “I think all
in all, our customer loyalty and customer satisfaction is what’s kept us going
“We feel like we do business the right way … and
we’re going to just continue to do business well.”
Work on the expansion
started last year after employees noticed they were
outgrowing the building
and regional executives at
Toyota saw Glenn Toyota’s
When construction began in October, the sales
staff moved into trailers out front, where they
worked until construction
was completed in mid-January.
The staff was concerned
about braving the winter
in trailers, but the unusually mild winter worked in
“We didn’t know what
to expect,” Clark said with
a laugh. “Mother Nature
was good to us.”
Since January, designers have been putting the
finishing touches on the
remodeled offices, customer service lounge and
Last Tuesday, everything was finally in its
place, and the Frankfort
Area Chamber of Commerce hosted a ribboncutting ceremony to celebrate the expansion.
“At the beginning, I
never thought we’d need
this much room,” owner Mike Tewell said. “But
we’ve seen our business
really getting bigger … it’s
all coming together.”
Shortly after the ribbon was cut, regional Toyota executives presented
Tewell with the Katana
L AUREN HALLOW/LHALLOW@STATE-JOURNAL.COM
Glenn Toyota owner Mike Tewell, right, greets people as they enter the newly remodeled
lobby Tuesday. The lobby was part of a remodeling and expansion project that was unveiled
The awa rd, which
comes in the form of a Katana, a Japanese sword, is
given to dealerships that
display strength, quality
and integrity and show a
strong partnership and
commitment to the Toyota
With the new space
came a need for more staff,
so the dealership beefed up
its sales staff and brought
on more service technicians.
Business has been going
well. Last month, employees sold 189 cars, making
April its second best month
in sales ever, Clark said.
They typically sell 130 cars
a month, he said.
And May could be another great month for the
dealership. With the expansion and entering the
summer months, which
Clark said typically are the
busiest, Clark said he’s predicting business will continue to grow.
“Toyota is definitely
ready for the production
side of it and we’re definitely ready for the sales
side,” Clark said.
“If (April) was any indication for what to expect
down the road, I think
we’ll be in good shape.”
Revolving door: Yahoo ushers out another CEO
BY MICHAEL LIEDTKE
AP TECHNOLOGY WRITER
SAN FRANCISCO (AP)
– Yahoo still has credibility
issues, even after casting
aside CEO Scott Thompson because his official
biography included a college degree that he never
The troubled Internet
company’s next challenge
will be convincing its restless shareholders and demoralized employees that
the turnaround work started during Thompson’s tumultuous four-month stint
as CEO won’t be wasted.
It won’t be an easy task,
given that Yahoo Inc. has
now gone through four
full-time CEOs in a ﬁveyear stretch marked by
broken promises of better times ahead. Instead,
Yahoo’s revenue and stock
price have sagged during
a time when rivals such as
Google Inc. and Facebook
Inc. as advertisers spend
more money online.
“Yahoo has been ﬂoundering for years and it
looks like there is going
to at least several more
months of indirection now
that another CEO is coming in,” said Adam Hanft,
who runs a consulting
firm that specializes in
brand reputation and crisis management.
Yahoo’s hopes are now
resting on Ross Levinsohn
as its interim CEO.
Levinsohn had a successful stint running Internet
services within Rupert
Murdoch’s media empire
at News Corp. before one
of Yahoo’s former CEOs,
Carol Bartz, hired him in
November 2010 to help her
in her mostly fruitless attempt to ﬁx the company.
Thompson, who was
hired as Yahoo’s CEO in
January to ﬁll a void created by Bartz’s ﬁring, had
promoted Levinsohn last
month to oversee the company’s media and advertising services throughout
“This may seem like a
great deal of news to digest,
but as you are all keenly
aware, Yahoo is a dynamic, global company in a dynamic, global industry, so
change – sometimes unexpected and sometimes
at lightning speed – is
something we will continue to live with and something we should embrace,”
Levinsohn wrote in a Sunday memo to employees
that was provided to The
Levinsohn, 48, plans to
address workers at a companywide meeting Monday afternoon.
Yahoo tried to make
Levinsohn’s job slightly
easier by reaching a truce
with dissident shareholder
Daniel Loeb, a hedge fund
manager who exposed the
on Thompson’s bio and
had made it clear he would
continue to publicly skewer the company unless he
was given a chance to help
develop a turnaround
To placate Loeb, Yahoo
is shaking up its board of
directors, which has been
in a state of ﬂux for several
Yahoo Chairman Roy
Bostock and four other directors who had already
announced plans to step
down at the company’s
annual meeting later this
year are leaving the board
immediately. All five of
those directors signed off
on the hiring of Thompson, a move that made
them all look bad by the
recent revelation that they
didn’t catch an inaccuracy
circulating for years about
Three of Yahoo’s vacated board seats will be ﬁlled
by Loeb, and two of his allies, former MTV Networks
executive Michael Wolf
and turnaround specialist
Alfred Amoroso, a veteran technology executive
who joined Yahoo’s board
just three months ago, replaces Bostock as chairman.