Today: Mostly sunny and warmer through the afternoon with a high in the upper 60s.
Tonight: Clouds returning and not as cold with an overnight low in the mid to upper 40s.
Friday: Mostly cloudy with a slight chance ... 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 April 17, 2014 07:32 GMT
HONG KONG (AP) -- Asian stock markets were mostly lower today, with Japan's Nikkei leading the retreat as investors locked in profits after a strong rally.
Profit taking set in following a sharp rise in Tokyo the day before and as comments from the country's central bank governor left investors unimpressed.
Other regional benchmarks were unable to find direction in spite of optimism in the U.S., where major benchmarks closed at least 1 percent higher, and Federal Reserve Chair Janet Yellen said the central bank would continue to provide stimulus for the job market.
Trading in some markets such as Hong Kong and Australia was subdued ahead of a long weekend.
Benchmark crude oil rose above $104 a barrel.
The dollar slipped against the euro and the yen.
ECONOMY-THE DAY AHEAD
Major business and economic reports scheduled today
WASHINGTON -- Investors today will be taking a close look at the government's weekly jobless claims report.
Also due out is Freddie Mac's weekly mortgage rate report.
There are a slew of companies set to report their quarterly financial results today. All results will be released before the bell.
Among the major companies reporting are industrial giants DuPont and General Electric.
Two big investment banks, Goldman Sachs; and Morgan Stanley, will report earnings.
Also set to release quarterly results today are PepsiCo, Philip Morris International, Union Pacific, Mattel, UnitedHealth and Chipotle Mexican Grill.
ALBANY, N.Y. (AP) -- An official familiar with the investigation says the New York Attorney General's Office has issued subpoenas to six firms and sent a letter to another for details about split-second stock trading and any unfair advantages.
The official tells The Associated Press the subpoenas went last week to trading firms including Chicago-based Jump Trading LLC and Chopper Trading LLC and Tower Research Capital in New York. The official spoke on condition of anonymity because he wasn't authorized to publicly discuss the subpoenas.
Attorney General Eric Schneiderman has said advantages in computer hardware and placement enable some traders to get millisecond timing advances on trades.
His office, with New York authority to investigate securities fraud, is seeking details about trading strategies and special arrangements with trading venues.
LOS ANGELES (AP) -- A man will plead guilty to securities fraud and pay regulators around $801,000 for using insider information to profit from Disney's $4 billion acquisition of Marvel Entertainment in 2009.
According to the deal filed in Los Angeles federal court Wednesday, Toby Scammell learned from his then-girlfriend, a Disney corporate strategy employee, that Disney would acquire a well-known company she didn't name.
Scammell learned from his consulting company that Disney had previously wanted to acquire Marvel. He bought call options in Marvel stock for around $5,500, and later sold them for $192,000 in profit.
Last month, Scammell agreed to settle a parallel civil case and pay $801,000 to the Securities and Exchange Commission, which will be credited to his fine in the criminal case. He also faces prison time.
WASHINGTON (AP) -- The fight over whether workers at a Volkswagen plant in Tennessee can unionize is moving to Washington.
Two House Democrats said Wednesday they will investigate whether Republicans in that state may have violated "or otherwise run afoul" of any federal laws ahead of a February vote in which workers narrowly opted against joining the United Auto Workers.
Congressmen George Miller of California and John Tierney of Massachusetts say they want to know if any Tennessee Republicans attached any inappropriate strings to the state's $300 million incentive package to get VW to expand the Chattanooga plant.
The union claims the election was tainted by Republicans including U.S. Sen. Bob Corker.
Corker and others have denied doing anything inappropriate.
A hearing on the UAW's complaint is set for Monday in Chattanooga.
SAN FRANCISCO (AP) -- Yahoo's recently fired chief operating officer, Henrique de Castro, left the Internet company with a severance package of $58 million even though he lasted just 15 months on the job.
The disclosure in a regulatory filing may lead to more second-guessing of Yahoo CEO Marissa Mayer's decision to hire de Castro as her second-in-command in October 2012.
Mayer dumped de Castro in January after concluding he wasn't executing on her plan for reviving Yahoo's lackluster ad growth. De Castro had been in charge of ad sales.
Yahoo Inc. previously disclosed de Castro would be getting a severance package, but didn't reveal the amount until Wednesday.
The company's board said most of the severance stemmed from the costs of luring de Castro from his previous job at Google Inc.
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