Today: Mostly cloudy and becoming windy. Showers at times. An afternoon high in the upper 50s to low 60s. An increasing North wind at 10-20mph.
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Chattanooga Airport Announces Major Terminal Renovation
At the March meeting of the Board of Commissioners, Chattanooga Airport Authority approved a $7.2 million renovation project for the airport terminal. The nine month, multi-phase project will modernize the main terminal building, improve the building’s environmental sustainability and enhance the passenger experience.
“We are excited to begin this project which will mark the most significant renovation to our passenger terminal since the facility opened in 1992,” said Dan Jacobson, chairman of the airport’s board of commissioners. “Our design team has worked diligently to develop an updated facility plan that we believe will really improve our customers’ experience when flying out of Chattanooga.”
Local company EMJ Construction is serving as construction manager. The airport is partnering with EMJ to find as many local and regional subcontractors as possible to participate on the project as the airport is committed to the economic development of this growing community. Local architectural firm Derthick, Henley & Wilkerson, one of the firms responsible for the original design of the passenger terminal, will once again serve on the project team, bringing their vast experience to the renovation. The project plans build off of the work of Leo A. Daly, who began this process and integrated community feedback into the new design.
Several key elements of the project include:
Complete renovation of terminal restrooms
New flooring, wall tile, painting and signage
Updated public seating throughout the terminal
Complete renovation of airport concessions
New escalator system in the rotunda
“The terminal renovation project has been in the works since 2011 and will only build on the efficiency and convenience that our airport already offers,” said Terry Hart, president and CEO of the airport authority “While utilizing the existing footprint of the building we will significantly improve the passenger experience while preserving the unique and recognizable qualities of the facility that our travelers already love.”
The project is scheduled to take nine months and the terminal will remain operational throughout the duration of the project. Updates will be available at chattairport.com and, very soon, on the airport’s Facebook and Twitter.
More Business News
Last Update on October 31, 2014 07:28 GMT
SEOUL, South Korea (AP) -- Japan's Nikkei 225 stock average surged 5 percent and the yen slid against the dollar after the Bank of Japan unexpectedly announced new stimulus to boost a flagging economic recovery.
Other Asian stock markets were also higher after the Japanese central bank's announcement Friday. The dollar rose 1.2 percent to 110.64 yen.
The bank said it would increase its asset purchases by between 10 trillion yen and 20 trillion yen ($90.7 billion to $181.3 billion) to about 80 trillion yen ($725 billion) annually.
The Nikkei was up 4.6 percent at 16,380.11 after shedding some of its initial gains. Hong Kong's Hang Seng rose 1.2 percent and Seoul's Kospi was up 0.1 percent.
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Today. the Commerce Department will release its September report on consumer spending, which accounts for 70 percent of economic activity in the U.S.
Also, the University of Michigan will issue its monthly index of consumer sentiment for October. In September, the index reached its highest level since July 2013, led by greater optimism that the economy will grow and incomes will rise.
The Labor Department will also release the third-quarter employment cost index.
Before the market opens, Exxon Mobil will report its quarterly financial results.
NEW YORK (AP) -- Citigroup is slashing its third-quarter earnings by $600 million, saying that recent investigations by regulators have altered the results it reported earlier this month.
The New York-based bank on Thursday revised its quarterly net income to $2.8 billion from a previously reported $3.4 billion, citing legal expenses.
The bank's operating expenses rose from $12.36 billion to about $13 billion.
The company said in a statement the unexpected increase came from "rapidly-evolving regulatory inquiries and investigations, including very recent communications with certain regulatory agencies related to previously-disclosed matters."
Citi previously reported third-quarter net income of $3.44 billion, or $1.07 per share, on Oct. 14. The results exceeded Wall Street estimates.
Like other major banks, Citigroup has been the target of lawsuits and government investigations for its role in the mortgage meltdown that helped spur the financial crisis of 2008.
SURGICAL GOWNS LAWSUIT
LOS ANGELES (AP) -- A lawsuit says Kimberly-Clark Corp. falsely claimed its surgical gowns met the highest standards for protecting against Ebola and other infectious diseases.
Lead attorney Michael Avenatti says the Texas hospital where two nurses contracted Ebola used to stock the gowns but it's not clear if the nurses had used them.
The $500 million fraud suit was filed Wednesday in federal court in Los Angeles on behalf of a surgeon who wore the gowns.
The lawsuit says Kimberly-Clark knew for a year that the gowns failed industry tests and allowed the transfer of bodily fluids, bacteria and viruses, but the company still promoted them as having the highest level of impermeability.
The maker of Kleenex and other consumer products says it doesn't comment on lawsuits but stands behind its products' safety.
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