LOUISVILLE, Ky. (AP) – Lewis Grant lost his job nearly a year ago, but that didn’t stop him from going to America’s most famous horse race. The unemployed auto worker staked out a spot on the Churchill Downs infield Saturday, scraping together enough money to have a good time at the Kentucky Derby.

“You’ve still got to do little things for yourself,” said Grant, 36, of Shelbyville, Ky. “You cut back where you can, but there’s just some things that you’re not willing to give up.”

Money flowed like mint juleps on a cool, overcast day as the massive crowd assembled for the 135th Run for the Roses angled for their own economic stimulus at Churchill’s betting windows. Race fans like Debbie Oberle shrugged off the nation’s stubborn recession and spent freely while soaking in the festive scene.

“I’m keeping the economy going, said Oberle, 51, of Walton Hills, Ohio, who was betting with “zeal” and had already bought $150 worth of souvenirs. “This is my first time here, and I’m going to enjoy it.”

This year’s Derby featured its usual glitz as women sported snazzy dresses and brightly plumed hats. Celebrities paraded along a red carpet entrance.

Fans screamed at the arrival of stars like Aretha Franklin, Kid Rock, country singer Travis Tritt and New York Giants quarterback Eli Manning. Among others in attendance were singer Gretchen Wilson with her 8-year-old daughter, Grace; Brooke Shields with her family; chef Bobby Flay and his wife, actress Stephanie March; and actress Doris Roberts.

But the revelry also unfolded against the backdrop of a dramatic U.S. economic slowdown, and the anxiety of a worldwide outbreak of swine flu.

Don Meier, 55, of Louisville, said he was taking “commonsense precautions” against the illness such as washing his hands, but he wasn’t going to let publicity about the virus hamper his 35th straight Derby.

“I’m not going to stay in a bunker somewhere,” he said, “I’m still going to go out.”

Churchill Downs turned somber briefly when eight bells tolled in tribute to the filly Eight Belles, a year after her fatal breakdown following the Run for the Roses.

Owner Rick Porter was presented a U.S. flag along with a portrait of the filly who was runner-up in the 2008 race.

This year’s Derby took an unexpected turn when morning-line favorite I Want Revenge was scratched early Saturday. The colt was knocked out of the Derby after trainer Jeff Mullins discovered a left front ankle injury that was causing inflammation.

The sluggish economy was the big concern for fans like Grant, who was more restrained with his money.

Grant, a Derby regular since 2001, put himself on a tight budget. Last year, when still employed with Ford Motor Co., Grant plunked down $600 on Derby Day wagers and amassed a big beer tab.

This time, with no job prospects on the immediate horizon, he put a strict $150 limit on wagers.

“That’s from gifts from people – birthdays and Christmas and just what I scraped and saved,” he said.

Grant, draped in festive beads, already had plans for any big winning tickets.

“I would pay off some more bills,” he said.

Meier was among fans who packed a cooler with sandwiches, cookies and soft drinks.

“It’s kind of a low-budget operation,” he said.

Churchill lifted its Derby ban on coolers in the infield. The track had prohibited coolers for its biggest day after reviewing security policies following the Sept. 11, 2001, terrorist attacks. Churchill Downs also froze most Derby ticket prices this year as a result of the struggling economy.

Lifelong horse racing fan Charles Pelley, 70, of Myrtle Beach, S.C., was fulfilling a promise made to his father by attending his first Derby. Pelley said the economy was no factor.

“I lost 40 percent of what I’ve worked for my whole life last year,” Pelley said. “That didn’t matter to me. It’s just less for my kids. You can’t take it with you.”

Tracy Beebe, a 37-year-old stay-at-home mom from Winston-Salem, N.C., said her family was celebrating her father’s 30th trip to the Derby. Beebe said the sour economy had only a minimal effect on their trip.

“We’re still betting on every race, but we’re not betting as much,” she said.

Linda Elliott said her Derby debut wouldn’t be inhibited by money concerns. Elliott, attending the race with a group of friends, wagered several hundred dollars the day before at Churchill Downs, and came out slightly ahead. She planned to bet with gusto again Saturday.

The 57-year-old Canton, Ohio, woman was fulfilling a long dream.

“It’s awesome,” Elliott said. “I think everybody needs to do this, once in their life.”

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Associated Press writers Joe Biesk, Will Graves, Jeffrey McMurray, Malcolm C. Knox, Janet Cappiello Blake, Will Graves and Jeffrey McMurray contributed to this report.

AP-ES-05-02-09 1650EDT

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