Today: Rain ending and clearing skies. An afternoon high in the upper 50s to near 60.
Tonight: A fair sky and seasonably cold with a low in the mid/upper 30s.
Saturday: Sunny early, then a mix of sun and clouds. An afternoon ... More...
Hot Rod Power Tour Coming to Chattanooga
The ingredients for the ultimate performance-car fan experience are combined to perfection every first week of June as the legendary Hot Rod Power Tour makes its seven-cities-in-seven-days journey. For 2013, Chevrolet Performance Presents the Hot Rod Magazine Power Tour Driven by Continental Tire is set to kickoff June 1st in Arlington, Texas and make a stop in 5 other car-crazy towns before it comes to a close in N. Concord (Charlotte), North Carolina on Friday, June 7th. Chattanooga State Community College will host the Coker Tire Cruise Night of the Hot Rod Power Tour, Thursday, June 6th from Noon – 7pm.
The tour brings to life the pages of Hot Rod Magazine, and embodies all that the magazine has stood for in its 65-year history. Over 5,400 enthusiasts will participate in the trip driving their beloved hot rods, street rods, custom trucks, muscle cars, and street machines of every make, model and vintage. Over the 7 tour stops, over 85,000 spectators will be admitted free to take in the daily show of thousands of “to die for” machines and the traveling exhibits of over 50 top aftermarket manufacturers. Along the carefully-chosen tour route in towns big and small, thousands more will stake out roadside viewing spots for this ultimate performance parade.
When the Hot Rod Power Tour descends upon each of the seven host cities, they will leave a massive economic impact on the local economy. Hotels, restaurants, nightclubs, bars and more will play host to the tour participants who are relaxed and enjoying the hot-rodding lifestyle. Participants come from around the world to take part in the Hot Rod Power Tour. They plan for months or even years for the trip, and they come prepared to spend money at each stop.
“We’re very excited to be hosting a return visit of the Hot Rod Magazine Power Tour,” said Bob Doak, President & CEO of the Chattanooga Convention & Visitors Bureau. “Chattanooga hosted the Power Tour in 2010 and watched as thousands of hot rodders from all over the country and the world descended on the city for the one-day event. We’re anticipating the 2013 Power Tour to bring more than 6,000 participants who will leave an estimated economic impact of more than $1 million. This impact will be felt throughout the community and will benefit our hotels, attractions, restaurants and other businesses. We’re looking forward to seeing the 3,500 hot rods this June.”
Locally owned & operated, Coker Tire Company is the Cruise Night sponsor for the festivities in Chattanooga on Thursday, June 6th. Coker Tire is the world's largest distributor of antique and classic tires for automobiles, trucks and motorcycles and is located in historic downtown Chattanooga.
“I am delighted that Hot Rod Magazine has chosen to visit the Tennessee Valley once again”, said Corky Coker, owner of Coker Tire Company. He continued to say, “I know that it is rare for the Power Tour to re-visit the same cities it has been through before, but I know that the city of Chattanooga will roll out the red carpet once again for this power house event and this incredible group of people who follow this annual cross-country tour. The Power Tour is my kind of event. It’s about getting out and driving your car-a celebration of the open road. We’re excited to be a part of the Hot Rod Magazine Power Tour once again and hope all of those registered Power Tour participants will come by the Coker Tire headquarters in historic downtown Chattanooga for a Tour of our facilities in June.”
The Hot Rod Power Tour begins in Arlington, TX at the University of Texas at Arlington on Saturday, June 1. The kickoff sponsor is Ft. Worth-based Painless Performance Products. On Sunday, June 2, the tour moves to the Four States Fairgrounds in Texarkana, AR for a stop sponsored by Edelbrock Performance. The next stop takes the tour the Arkansas Fairgrounds in Little Rock on Monday, June 3. From there, the route goes to Memphis, TN for a stop at the Memphis International Raceway on Tuesday, June 4 sponsored by locally owned & operated industry leader, Comp Cams. On Wednesday, June 5, the Hoover Metropolitan Stadium will host a stop sponsored by Holley Performance Products in Hoover, AL near Birmingham. Chattanooga State Community College in Chattanooga, TN will host the Thursday, June 6 stop sponsored by Chattanooga-based Coker Tire. The Grand Finale for the 2013 Hot Rod Power Tour will be at the zMAX Dragway at Charlotte Motor Speedway in Concord (Charlotte), NC.
“The Power Tour is truly the ultimate hot rodding adventure,” said Jeff Dahlin, Publisher of Hot Rod Magazine. “The event began 19 years ago as a road trip from Southern California to Detroit for a few of the editors and some of their friends who had built magazine project vehicles. 19 years later, it’s amassed over 5,400 vehicles, over 85,000 spectators, 50 of the nation’s premier automotive aftermarket manufacturers and becomes the center of a worldwide buzz in the automotive aftermarket industry every June. We can’t wait to bring the Power Tour, Hot Rod Magazine’s flagship event, back to Chattanooga this June.”
The Hot Rod Power Tour is free to spectators however there is a cost to register a vehicle for just one day or the entire event. Vehicle registration is open to any year, make or model of vehicle. Pre-register for $80 plus $3.50 handling fee or register on-site for $90. Pre-registration runs through Thursday, May 23, 2013 at www.HotRod.com or by calling (877) 413-6515. You can also join the Tour one day only for just $30. One-day registration is available on site only.
For more information, follow the Hot Rod Power Tour at www.hotrod.com, or by calling (877) 413-6515.
More Business News
Last Update on March 07, 2014 08:32 GMT
MUMBAI, India (AP) -- Asian stocks mostly rose today, buoyed by a third all-time high on a key Wall Street index this week and signs that China will follow up on pledges to further open the world's No. 2 economy,
Investors have been encouraged by this week's meeting of China's top legislative body which pledged to advance Communist Party plans issued in November for promoting market forces and domestic consumption in Asia's economic engine.
The gains in Asian markets followed a mostly positive day on Wall Street after a report showed the number of people who filed for unemployment benefits fell last week to the lowest level in three months.
The focus in the U.S. is now on today's release of the February employment report. The payrolls data often set the market mood for a week or two.
European markets stabilized Thursday as tensions in Ukraine eased while the euro surged after traders reined in expectations of further easing measures from the European Central Bank.
Benchmark crude oil rose to near $102 a barrel. The dollar weakened against the yen and rose against the euro.
ECONOMY-THE DAY AHEAD
Major business and economic reports due out today
WASHINGTON -- Investors are anxious to see the Labor Department's employment data for February. The report comes out this morning.
Also today, the Commerce Department will release January's international trade data this morning; and the Federal Reserve will release consumer credit data for January this afternoon.
WASHINGTON (AP) -- A federal judge has dismissed the Federal Aviation Administration's only fine against a commercial drone user.
The judge ruled that the small drone was no different than a model aircraft. The decision drone industry out of the skies.
Patrick Geraghty, a National Transportation Safety Board administrative law judge, said in his order dismissing the $10,000 fine that the FAA has no regulations governing model aircraft flights or for classifying model aircraft as an unmanned aircraft.
FAA officials said they were reviewing the decision and had no further comment. The agency can appeal the decision to the full five-member safety board.
The FAA levied the fine against aerial photographer Raphael Pirker for flying the small drone near the University of Virginia to make a commercial video in October 2011. Pirker appealed the fine to the safety board, which hears challenges to FAA decisions.
FAA officials have long taken the position that the agency regulates access to the national airspace, and therefore it has the power to bar drone flights, even when the drone weighs no more than a few pounds.
LOS ANGELES (AP) -- The man Newsweek claims is the founder of Bitcoin denies he had anything to do with the digital currency.
In an exclusive two-hour interview with The Associated Press Dorian S. Nakamoto, 64, said he had never heard of Bitcoin until his son told him he had been contacted by a reporter three weeks ago.
Reached at his home in Temple City, Calif., Nakamoto acknowledged that many of the details in Newsweek's report are correct, including that he once worked for a defense contractor. But he strongly disputes the magazine's assertion that he is "the face behind Bitcoin."
Since Bitcoin's birth in 2009, the currency's creator has remained a mystery. The person --or people-- behind its founding have been known only as "Satoshi Nakamoto," which many observers believed to be a pseudonym.
Albertsons parent Cerberus to buy Safeway
PLEASANTON, Calif. (AP) - Safeway says it has agreed to be acquired by an investment group led by Cerberus Capital Management, the owner of Albertsons and several other supermarket chains.
The acquisition is worth about $7.64 billion in cash, and pending other transactions could top more than $9 billion.
It comes amid ongoing consolidation in the supermarket industry, which is facing growing competition from big-box retailers, specialty chains, drug stores and even dollar stores. Cerberus bought five chains including Albertson's and Jewel-Osco from Supervalu Inc. last year. Kroger Co. also recently snapped up regional chain Harris Teeter.
Safeway shareholders will receive $32.50 per share in cash. Pending other deals, the company says the deal is worth roughly $40 per share to stockholders.
H&R Block's 3Q loss widens on lower revenue
KANSAS CITY, Mo. (AP) -- H&R Block Inc. says its loss swelled about a dozen-fold in its fiscal third quarter, as the tax preparer's revenue fell sharply because of a delayed start to this year's tax season.
A partial-government shutdown last fall prompted the Internal Revenue Service to put off the start of this year's tax filing season until Jan. 31, nearly two weeks after it was originally slated to begin.
In the 10 months ended Feb. 28, the company said the number of H&R Block-assisted tax returns totaled 7.82 million, a decline of 9.1 percent from a year earlier, the company said.
Block said its third-quarter results are not indicative of the company's expected full-year performance, noting it expects to book the majority of its revenue and fiscal 2014 earnings in the February-April quarter.
All told, the company reported a loss of $214.7 million, or 78 cents per share, for the three months ended Jan. 31. That compares with a loss of $17.7 million, or 7 cents per share, a year earlier.
Revenue tumbled about 57 percent to $199.8 million from $472 million.
DALLAS (AP) -- Delta is providing more details about changes to its frequent-flier program after complaints about the overhaul from some travelers.
Starting in 2015, customers will earn miles based on how much they spend, not just miles flown.
Delta on Thursday released charts showing how many miles you'll need to earn a free trip. That's a key piece of information for SkyMiles customers that Delta had planned to hold back until late this year.
Delta is leaving the number of miles a frequent flier needs unchanged on many trips. In some cases, it's lowering the miles needed.
BEIJING (AP) -- Karl Lagerfeld and a Macau casino operator have announced plans for the Chanel designer to create his first hotel.
Lagerfeld and the Sociedade de Jogos de Macau says the 270-room Karl Lagerfeld Hotel will open in 2017 in a 20-story tower in the tourist enclave in southern China.
In a joint statement, Lagerfeld says, "An entire hotel designed by me. It's the first time for me!"
The hotel will be part of a complex of casinos, restaurants and shopping.
Lagerfeld is chief designer for the Chanel and Fendi fashion houses and also has his own label. In addition to clothing, he has designed a can for Diet Coke.
PFIZER-EFFEXOR XR RECALL
NEW YORK (AP) -- Pfizer is recalling some lots of its antidepressant Effexor XR because a single capsule of a different medication was found in one bottle of the drug.
Pfizer is recalling two production lots of Effexor XR capsules and one lot of generic Effexor, or venlafaxine, sold by its Greenstone subsidiary. The company says a pharmacist reported that one bottle of Effexor XR contained a capsule of Tikosyn, a treatment for irregular heartbeat.
Pfizer described the recall as a precaution, saying it hasn't received any other reports and that it believes there is a very low probability that there are Tikosyn capsules in other bottles of Effexor XR.
The New York drugmaker says customers, including pharmacies, hospitals, government agencies, and distributors, are being informed about the recall. It says patients who have a recalled bottle should contact their physicians.
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