Kentucky Derby muted by recession

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By Andrea Billups

In a sign of the economic times, the lavish train ride that traditionally ferries VIPs from Kentucky's state capital to the Kentucky Derby has been scratched this year by Gov. Steven L. Beshear.

Instead, buses will transport the I'm-not-feeling-so-VIP attendees to Churchill Downs for Saturday's race as the state struggles to handle a $456 million budget deficit.

That's not all. A free breakfast offered under tents on Derby morning has been cut, with this year's diners eating on picnic tables and paying for their meals.

Derby corporate sponsorships are off, and the Kentucky Thoroughbred Owners and Breeders Association dinner was canceled this year.

Perhaps most telling of all is news that hat sales are down. A good Derby hat can cost hundreds of dollars, but some are "recycling" to hit the proper style note for the times.

Even as the bonnets remain a key Derby tradition and national fashion fixation, many ladies who sport the event's outlandish toppers - some adorned with bows, feather and sequins - have retooled and reworked their expensive chapeaux to exhibit restraint in an off financial year.

The 135th running of the Kentucky Derby is expected to be "down 15-20 percent overall," said Jim Wood, president and CEO of the Louisville Convention & Visitors Bureau. He is nonetheless optimistic that the absence of some Derby regulars presents an opportunity for others who might have always dreamed of watching horse-racing's premier spectacle. This is the year for them to make their own last-minute run for the track, he said.

"There's still availability at some hotels. Some are sold out, but others are still taking reservations," Mr. Wood said.

While profits may be off for local restaurants and other businesses, tickets to the race itself can still be purchased, he noted, making attendance a reality for those who know that by this time in previous years it would be too late and out of reach.

"We'll see a little more of a regional draw," he said. "In years past, we've been a national draw, so that is scaled down."