Bridges Project costs rise again
State officials from Kentucky and Indiana went panhandling to the federal government Monday, submitting a financial plan for the Ohio River Bridges Project that shows costs have risen another $162 million, bringing the updated total to just under $4.1 billion.
The initial financial plan is a required step for the two-state coalition to secure federal funds necessary to start working on the behemoth project, which would add a downtown bridge, an East End bridge, and redesign Spaghetti Junction, providing a nice concrete awning over much of Waterfront Park and the Extreme Park for those rainy days.
The updated financials show Kentucky’s commitment at about $2.9 billion, which will theoretically be realized through a mix of state and federal funding, including gas tax revenue, which could also be used for public transit.
Mike Hancock, chief of staff at the Kentucky Transportation Cabinet, said Tuesday that the plan, which has changed a lot in the past couple years, would be updated annually. If the Federal Highway Administration approves it, the Project would be installed in KTC’s Six-Year Plan for state highways, which would then have to be reauthorized — along with the first chunk of state money — by the General Assembly next session. If all that happens, construction may begin next summer. —Stephen George
Hedging against capital gains with Cherokee Triangle
Trustees of the Cherokee Triangle Association last week defeated a proposal to bet $20,000 on a horse named Cherokee Triangle in the upcoming Breeders’ Cup World Championships, Oct. 26-27 at Monmouth Park in New Jersey.
Reportedly, the Trustees of the neighborhood association were ready to make the wager — but ended up shelving the idea when they could not reach consensus on whether to bet the 20 grand on Cherokee Triangle to win, or “key” the horse in complicated multiple Pick Six wagers.
Well, OK, that’s not really true.
But the horse is the real thing.
Owned by a syndicate headed by Louisvillians Jim Shircliff and Dr. Harvey Diamond, Cherokee Triangle is a fresh-faced two-year-old son of Cherokee Run who just swept to a runaway 10-length victory in the $200,000 Sunday Silence Stakes at Louisiana Downs — and is headed next to the Breeders’ Cup, where he will compete in a new $1 million Cup event called the Juvenile Turf. It’s a grass race that should attract the best U.S. turf 2-year-olds, and maybe some from Europe. In that company, Cherokee Triangle could go off at odds of 10-1. Maybe more. A $20,000 win bet at 12-1 would return $260,000. And the sky’s the limit on Breeders’ Cup pick-sixes.
Certainly somebody thinks the horse has a chance at that level. Ten minutes after Cherokee Triangle won his first start in July at Ellis Park, trainer Mike Maker’s cell phone rang, with a blood stock agent offering to buy the horse for $150,000. But the owners, who purchased their pony for $37,000 before he had ever run in a race, said no to that offer. And bigger offers that followed. They just aren't selling.
Shircliff knows the odds of their horse winning the Really Big Kale are remote. But he’s been trying to get a good horse for 30 years, and now just wants to see what it’s like to have one. And, he says, he has no great expectations.
But if ...?
“Well, if he wins the Breeders’ Cup and sweeps all three legs of the Triple Crown next year,” laughed Shircliff, “then maybe they’d put up another horse statue like Gen. Castleman and Carolina in the Triangle. Just a little statue in a little park place.”
He was laughing.
But we’re serious: Should fans of the Cherokee Triangle neighborhood be thinking about making a Breeders’ Cup bet on Cherokee Triangle, the horse?
“Well,” said Shircliff, “I always say that betting horses is a great hedge against capital gains.” —Bill Doolittle
What, a protest in the Highlands?
In light of that, about 75 people gathered Thursday evening to protest outside The Bristol, many carrying signs and passing out flyers about what Nett has alleged. Meanwhile, inside the restaurant was a 30th anniversary party.
The Bristol has not issued an apology to Nett or his family, which the family has said may have kept the situation from escalating to a lawsuit — which, of course, only shows one side of a story.
The Bristol’s operations manager, Mark Aarvig, said he couldn’t comment outside of reading a prepared statement.
“The Bristol Bar & Grille has, for 30 years, been a good citizen of Louisville, dedicated to providing quality service to the people of this community, all people without exception,” the statement read. “The allegations asserted in the lawsuit do not reflect long-standing and long-demonstrated values of the Bristol Bar & Grille.”
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