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FEB2013 QUARK8 Layout 1 FEBRUARY 2013 Kentucky Chamber President and CEO Dave Adkisson (left), Tom Underwood, the state director for the National Federation of Independent Businesses (center), and Associated General Contractors of Kentucky Board President David Dean, recently led a coalition of more than 50 business groups in a news conference at the Capitol to urge lawmakers to enact sensible pension reform. Chamber-led coalition urges lawmakers to enact pension reform now THE KENTUCKY CHAMBER recently stake in our public employee pension sys- joined the National Federation of Inde- tems – both at a state and local level,” said pendent Businesses (NFIB), the Associ- Adkisson. “Kentucky’s private employers, ated General Contractors of Kentucky most of which are small, local businesses, Kentucky Chamber Kentucky (AGC) and more than 50 other business directly contribute approximately 40% of news groups in a coali- all state revenue in tion formed to If we don’t fix this pension problem in income, corporate How does the pension urge legislators to the 2013 General Assembly, we might and sales taxes, in crisis affect you? pass comprehen- have to rename our state. Instead of the addition to indi- sive pension re- Commonwealth of Kentucky we’ll have vidual income, With $30 billion in unfunded liabilities, Kentucky’s form during the to call it the Common Debt of Kentucky. payroll and sales public pension system is maxed out – and every day 2013 regular ses- We will be so far in debt it will be almost taxes.” that passes without a fix is putting the state at greater sion of the Ken- impossible to dig our way out. AGC Board financial risk. The state’s bond rating has been down- tucky General - Dave Adkisson President David graded three times by major rating agencies due to un- Assembly. Coali- Kentucky Chamber President and CEO Dean pointed to funded pension liabilities, meaning it will cost taxpayers tion members co- Kentucky’s down- more to finance signed a letter graded bond rat- public projects TAKE ACTION NOW demanding immediate action on pension ings – a direct result of unfunded pension such as new Call or email your legislators reform legislation. liabilities – saying that it will negatively schools. today at 1-800-372-7181or During a news conference at the Capi- impact construction projects and ulti- Spiraling lrc.ky.gov/whoswho/email.htm tol, the coalition, led by Kentucky Cham- mately lead to fewer jobs. pension costs ber President and CEO Dave Adkisson, “Major national rating agencies have mean less tax warned each day that passes without sig- downgraded Kentucky’s bond rating twice money for education and economic development – in- nificant changes to the system increases in the past two years. That means it will vestments Kentucky should be making to ensure a the chance that Kentucky employers and cost taxpayers more to finance such impor- strong future for our children, our communities and our individuals will be targeted for significant tant public projects as new schools, water state. tax increases. Adkisson said failing to act and sewer lines and other infrastructure The Kentucky General Assembly has a responsible during this legislative session also contin- improvements,” said Dean, who is also roadmap in the form of Senate Bill 2 that will guide the ues the “short-sighted, downward spiral” president of Dean Builds, a 10-year-old state to a sustainable solution. It is imperative the leg- of providing less money for education and commercial construction company based islation be enacted this session. economic development and more for un- in Lexington. “Those higher costs will Help make sure Kentucky’s pension system is put sustainable benefits not available to the av- mean fewer projects – and fewer jobs for on the right course. Let your legislators them know erage taxpayer. Kentuckians.” Kentucky’s employers will consider the 2013 session a See PENSION, page 6 “Kentucky’s businesses have a significant failure unless meaningful pension reform is enacted. David Gergen to keynote Chamber’s Annual Meeting Chairman visits western Kentucky IN JANUARY, the Kentucky Cham- to listen to Chamber members ber announced that its Eighth Business Summit and Annual Meeting, pre- LEADERS of the Kentucky Chamber sented by Bingham Greenebaum Doll, recently embarked on a tour of western will feature keynote speaker David Kentucky to take the pulse of the busi- Gergen, CNN senior political analyst ness community. Chairman Jim Booth, President of Booth Energy, President David Gergen and former presidential advisor. Gergen’s political career has and CEO Dave Adkisson, board mem- spanned four decades, and he has served as a presiden- ber Steve Lochmueller of CEO tial advisor during the administrations of Nixon, Ford, Lightyear Network Solutions, and Vice Reagan and Clinton. Gergen wrote about his experi- President of Membership Carlos Phillips met with business and com- ence in his New York Times best-seller, Eyewitness to Kentucky Chamber Chairman Jim Booth (Booth Energy) Power: The Essence of Leadership, Nixon to Clinton. munity leaders in nine different cities met with members of the Hopkinsville business community Now in its eighth year, the Business Summit and over the course of three days to discuss during a recent visit to western Kentucky. Board member Elizabeth McCoy (Planters Bank) hosted a luncheon for Annual Meeting, scheduled for July 22 and 23 at the issues facing various industries. Booth, and local chamber members. Louisville Marriott Downtown, provides an opportu- Adkisson organized the trip soon nity for business leaders throughout the Common- after Booth began his year as chairman of the Kentucky Chamber, when Booth, a native of Martin wealth to discuss issues related to the local, national and County in eastern Kentucky, mentioned he had spent little time in western Kentucky. Booth, and international economies. Visit kychamber.com/busi- Adkisson, a native of Daviess County in western Kentucky, decided to schedule a “listening tour.” nesssummit for more details or to register. See WEST, page 2 From the front WEST: Members voice concern over health care, education and pension issues “The tour through the state was successful in familiariz- Members at nearly all stops on the trip voiced concern and Atmos Energy (Owensboro) hosted lunch meetings, ing Jim with cities like Elizabethtown, Hopkinsville, Padu- over the Affordable Care Act, education issues and the state’s while English Lucas Priest and Owsley (Bowling Green) cah, Bowling Green and Owensboro. But it was also pension crisis. hosted a reception and Vanguard Construction successful as we spoke directly with members about issues During one of the last tour stops in Paducah, Booth (Paducah) hosted a breakfast. they are confronting in their industries and communities,” applauded the hospitality he’d received during the trip. “The support shown by our members said Adkisson. “The hospitality has been exceptional,” said Booth. during this trip has been phe- During lunch meetings with business leaders in Eliza- “Every community leader has such enthusiasm and pas- nomenal,” said Phillips. “We’ve bethtown, Owensboro and Hopkinsville, Adkisson and sion for making their towns great places to live and found that the business leaders Booth discussed the Chamber’s priorities for the 2013 Gen- work.” support the legislative activ- eral Assembly and listened to members like Helen Sims of Phillips said the member loyalty displayed during the ities of the Chamber on Superior Care Home in Paducah voice concern over issues visits was exceptional. Member companies Planters Bank pensions, education, health Tour stops facing the long-term care industry. (Hopkinsville), Hardin Memorial Hospital (Elizabethtown) care and tax reform.” Bullit County n Tour of Jim Beam Distillery Hardin County n Elizabethtown area member meeting hosted by Hardin Memorial Hospital n Tour of Fort Knox Warren County n Bowling Green area member reception hosted by English Lucas 5 Priest and Owsley Logan County 1 n Tour of Logan Aluminum (1) Board Member Rodney Bohannon took Booth, Adkisson and Lochmueller on a tour of Briggs and Christian County Stratton in Murray. (2) Rep. Gerald Watkins, Steve Penrod (USEC) and Helen Sims (Superior Care n Hopkinsville area member Home) attended the meeting in Paducah. (3) Booth spoke to Bowling Green members at meeting hosted by Planters Bank English Lucas Priest and Owsley during a reception in Bowling Green. 2 Calloway County n Tour of Briggs and Stratton 6 McCracken County n Paducah Area member meeting (6) Board member hosted by Vanguard Contractors Malcolm Bryant 3 showed Booth a hotel under con- Daviess County n Owensboro area member (4) Board member Randy Shu- struction on maker (second from left) along Owensboro’s river- meeting hosted by Atmos with Ken Perdue (right) led Booth, front. (7) Brad Energy Phillips, Lochmueller and board Richardson (Hardin member Linda Vitale (CSI Padu- County Chamber) cah) on a tour of Logan Aluminum and Dennis John- in Russellville. (5) Board member son (Hardin Memo- Jim Morehead (left) treated Booth rial Hospital) visited and others to a tour of Jim Beam after a luncheon. 7 4 Distillery, followed by a tasting. W amber membership and our large netw you and your employees can save from day one. As a Kentucky Chamber member, you’re connected to big savings on big benefi ts for your small business, starting with special discounts on coverage from Anthem Blue Cross and Blue Shield.* As an employer, you can give your employees health care coverage from Anthem and they’ll be connected to savings, too — thanks to our large networks. We make sure when your employees visit a network doctor their cost is lower, even before they satisfy their deductible. So your employees can get the care they need to stay healthy. And healthy employees make for a healthy business. Talk to your broker, call the Kentucky Chamber at 800-431-6833 or visit www.anthem.com/chamberadvantage for more information.
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