Tag Archives: Kentucky

UT beats Florida in Forbes college basketball rankings

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Florida may be the overall No. 1 seed in the NCAA mens basketball tournament, but the University of Tennessee is a much more valuable team, financially speaking.
UT is a sparkling No. 15 on Forbes’ 2014 list of the most valuable college basketball teams, with a team value of $14.1 million and a profit of $8.5 million.
Among its Southeastern Conference foes, the Vols trail only Kentucky, NO. 3 on the Forbes list with a team value of $32.5 million. But UT is well ahead of the Gators who finished outside Forbes’ Top 20 with a team value of $10 million +.
The financial details for the current rankings are from the 2012-2013 season and come from the U.S. Department of Education database, says Forbes, which published its 2014 list on Monday.
Ticket sales, alumni contributions, parking and concessions and NCAA tourney payouts are among the revenue sources cited by Forbes.
“Unlike our professional sports valuations, our college basketball values don’t represent what a team would sell for on the open market; as college teams, they obviously cannot be bought or sold. Instead, we use a weighted methodology to determine how much value the top college basketball teams generate for their athletic departments, universities and fellow conference members,” Forbes’ writer Chris Smith reports.
No. 1 on the Forbes list for the third straight year is Louisville with a team value of $39.5 million and a sizzling profit of $24.7 million.
The Vols lofty Forbes ranking continues to benefit from the tournament payout earned by the 2010 team, which made the NCAA Elite Eight and came within a whisker of the school’s first Final Four.
The Vols play their first NCAA tournament game since 2011 on Wednesday when they go up against Iowa.
Click here for the Forbes report.

Reuters: S&P places Xinergy on CreditWatch

A mild winter hasn’t been good for Knoxville-based coal company Xinergy, says Standard and Poor’s.

The ratings agency said it is placing its Xinergy ratings on CreditWatch with negative implications.

“The CreditWatch listing reflects our concern that  weak demand for thermal coal due to an unseasonably warm winter in the company’s regional end market result in lower-than-expected 2012 earnings, leading to additional deterioration of the company’s fragile liquidity position,” according to a report on the Reuter’s website.

Xinergy’s key has mining operations are in West Virginia and Kentucky. The company provides coal to electric utilities and industrial users.

Read more from Reuters here.

 

Working together to benefit taxpayers

In a rare display of cooperation and good sense, five small counties in northwest Tennessee and southwest Kentucky have formed an alliance to work on economic development.

The Ken-Tenn Regional Alliance, which represents Obion, Weakley and Lake counties in Tennessee and Fulton and Hickman counties in Kentucky, operates at the other end of the state, but East Tennessee economic develoment officials would do well to pay close attention to the group’s efforts.

Working across county and state lines presents certain political hurdles, but joint ventures can serve taxpayers well if local officials are sincere in their efforts to cooperate.

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