Tonight: A fair sky and comfortable with an overnight low near 60 (50s away from the city)
Friday: Partly to mostly sunny with ... More...
Big Hopes For Tourism $$$
by John Madewell
This Memorial Day weekend is considered the first weekend of the summer tourism season for the Scenic City. Those in the industry believe the ingredients are right to bring in those coveted tourism dollars.
During the lunch hour, Chattanooga DUCKS launched one after another of its boats, filled with tourists.
Over at the Tennessee Aquarium, business is teeming. School tours, families and retired couples take it all in.
Sally Schindel and her husband Greg came here after stopping in Little Rock, Arkansas. "Never been to Chattanooga before, someplace new."
The Schindel's arrived on somewhat of a whim. They're on a six month excursion across the country from Arizona.
They've found a way to curb expenses. Greg Schindel said, "You know what, we're in a motor home which gets about 7 1/2 miles to the gallon of diesel fuel and we don't eat out a lot, so the cost is not a huge issue for us."
Just down the riverfront stands a new hotel. Marriott's Spring Hill Suites just opened this week. Economic leaders say that's a good sign of business and tourism to come. Charles Wood of the Chattanooga Area Chamber of Commerce likes the future, "Based on the last few years, Chattanooga's done phenomenally well."
Wood is the Chamber's new Vice President of Economic Development. He came here from Pensacola, Florida and saw the damage bp's oil spill did there. Wood sees Chattanooga's location and reputation as selling cards. "The national economy has been pretty sour, I think less people are getting on planes so you've got a strong drive-to market that we benefit from. I think more and more word has spread."
On the North Shore, Brewhaus just opened last September. This will be the authentic German pub's first draught pour for spring tourists. Owner Michael Robinson has high hopes pegged to tourism, "I think it's going to be great. The CVB has posted that we're going to have strong numbers this year. And last year's numbers were good."
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Last Update on September 18, 2014 07:45 GMT
SEOUL, South Korea (AP) -- Asian stock markets mostly fell today after the U.S. Federal Reserve increased its estimate for the level of the central bank's benchmark interest rate by the end of 2015, surprising investors who expected a slower pace of rate hikes.
Hong Kong's Hang Seng was down 0.7 percent to 24,199.87 and South Korea's Kospi dropped 0.8 percent to 2,046.53.
Australia's S&P/ASX 200 declined 0.1 percent to 5,399.60.
Stocks in New Zealand and mainland China also fell but Japan's Nikkei 225 rose 1.3 percent to 16,099.30 as the yen weakened.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- There are two government reports due out today.
The Labor Department will release data on the number of people who applied for unemployment benefits last week. For the previous week, slightly more Americans sought benefits, but the total number receiving aid remained at a seven-year low.
The Commerce Department reports on U.S. home construction in August. In July, construction rebounded to an eight-month high, offering hope that housing had regained momentum after two months of declines.
Also today, Freddie Mac will release average mortgage rates for this week. Last week, the average for the 30-year loan edged up to 4.12 percent from 4.10 percent the previous week. At 4.12 percent, the average rate is still down sharply from 4.53 percent at the start of the year.
`And Federal Reserve Chair Janet Yellen will speak today on the importance of asset building for low- and middle-income households at a conference of the Corporation for Enterprise Development in Washington.
TOKYO (AP) -- Japan has logged a 948.5 billion yen ($8.8 million) trade deficit in August, the 26th straight month of red ink, as weak demand at home hit imports while exports also fell.
The Finance Ministry reported Thursday that exports fell 1.3 percent from a year earlier to 5.71 trillion yen ($53.3 billion) while imports dropped 1.5 percent to 6.65 trillion yen ($62.1 billion).
A weakening in the value of the Japanese yen has so far failed to spur a rebound in exports, despite nascent recoveries in the U.S. and Europe. Slower growth in China, Japan's biggest trading partner, has also hurt.
But consumer spending inside Japan has been lackluster since an April 1 sales tax, reducing demand for imports. Weaker oil prices have also cut costs for imported oil and gas.
BURNHAM, Maine (AP) -- Lincoln Logs, the popular toy created nearly a century ago by the son of famous architect Frank Lloyd Wright, is coming home to the U.S.A.
Maine Gov. Paul LePage announced Wednesday the toy logs, created by John Lloyd Wright and used to create miniature toy buildings, will be made at Pride Manufacturing, a wood products company in Burnham.
The toy has been made in China. But Pride Manufacturing officials say that when production of the wooden pieces ramps up, possibly in November, 80 percent of the toy will be made at the plant in Maine.
Some plastic pieces will still be made in China.
Hatfield, Pennsylvania-based K'NEX currently holds the product license.
WASHINGTON (AP) -- Amazon.com founder Jeff Bezos plans to build a rocket engine that would eventually replace the Russian mainstay used in many American unmanned launches.
United Launch Alliance, a collaboration of two aerospace giants that launches unmanned rockets, announced Wednesday that it will pay Bezos' Blue Origin space firm to develop new rocket engines. In about four years, the launch alliance hopes to start using the new engines in Delta and Atlas rockets.
Some experts worry that tensions over Ukraine might interrupt the supply of Russian engines, but alliance chief Tory Bruno said that's not a problem.
Bezos said he will proceed with plans for his private human space capsule to launch later this decade. However, Bezos' firm wasn't picked Tuesday by NASA for its $6.8 billion private space taxi program.
WASHINGTON (AP) -- The Agriculture Department is approving the use of genetically modified corn and soybean seeds that are resistant to a popular weed killer.
However, farmers won't be able to take full advantage of the seeds until the Environmental Protection Agency issues a second ruling allowing the use of Enlist, a new version of the 2,4-D weed killer that's been around since the 1940s. The EPA has said it will rule this fall on Dow AgroSciences' application to market the chemical.
The agriculture industry has been anxiously awaiting the approvals, as many weeds have become resistant to glyphosate, an herbicide commonly used on corn and soybeans now.
Critics say they are concerned the increased use of 2,4-D could endanger public health and that more study on the chemical is needed.
NEW YORK (AP) -- A bug in Apple's new iOS 8 software for mobile devices is prompting the company to withhold apps that use a highly touted feature for keeping track of fitness and health data.
Apple says it hopes to have HealthKit apps restored to its app store by the end of the month. Affected apps include Carrot Fit, WebMD and AskMD. Apple didn't provide details on what went wrong.
The iOS 8 software became available Wednesday. HealthKit is supposed to create a central repository for health and fitness data, so that apps have a better picture of your overall wellness and can even recommend trips to the doctor.
Apple's new iPhones have sensors to monitor fitness activities, and its upcoming Apple Watch will have a heart-rate monitor.
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