Saturday: A mix of sun and clouds. An afternoon high in the upper 60s and even near 70 in spots. A southwest wind at 10mph.
Saturday Night: Cloudy and dry during the evening. Some light rain possible late in the night and toward daybreak. Expect ... 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 18:27 GMT
WASHINGTON (AP) -- U.S. hiring improved in February from the previous two months despite a blast of wintry weather, likely renewing hopes that growth will accelerate this year.
The Labor Department says employers added 175,000 jobs last month, up from just 129,000 in January, which was revised up from 113,000.
The unemployment rate rose to 6.7 percent from a five-year low 6.6 percent. More Americans started looking for work but didn't find jobs. That's still an encouraging sign because more job hunters suggest that people were more optimistic about their prospects.
The figures were a welcome surprise after recent economic reports showed that harsh weather closed factories, lowered auto sales, and caused existing-home sales to plummet.
WASHINGTON (AP) -- The U.S. trade deficit widened slightly in January as a rise in imports of oil and other foreign goods offset a solid increase in exports.
The Commerce Department says the trade deficit increased to $39.1 billion, up 0.3 percent from December's revised $39 billion deficit.
Exports climbed 0.6 percent to $192.8 billion, led by increased sales of U.S.-made machinery, aircraft and medical equipment. Imports also rose 0.6 percent to $231.6 billion, reflecting a 9 percent jump in imports of petroleum. Imports of food and machinery also rose.
The trade deficit is the difference between imports and exports. A higher trade deficit acts as a drag on economic growth because it means U.S. companies are making less overseas then their foreign competitors are earning in U.S. sales.
PORTLAND, Maine (AP) -- L.L. Bean says it had a record year for profits and saw revenue growth of 3 percent.
CEO Chris McCormick told workers on Friday that after four consecutive years of growth, the Maine-based retailer is ready to accelerate expansion plans. He says the privately held company plans its largest single-year capital investment and will spend an additional $100 million on website changes, retail expansion and business systems.
The company's performance beat the industry average.
L.L. Bean's board was happy enough with the revenue gain to authorize an 8 percent bonus for full-time workers. That's the biggest bonus since 2005.
In a memo to Bean's 5,100 full- and part-time workers, McCormick said the company has been conservative for the past few years and is now ready to "grab market share."
NEW YORK (AP) -- Shares of Coupons.com are close to doubling in their first day of trading on the New York Stock Exchange.
The stock gained $14.40, or 90 percent, to $30.40 in morning trading.
Coupons.com Inc. delivers digital coupons and coupon codes to consumers. It priced its initial public offering of 10.5 million shares at $16 per share. The company had initially expected to offer 10 million shares and expected them to be priced between $12 and $14 per share.
The Mountain View, Calif., company raised $168 million from the IPO.
Coupons.com had 2013 revenue of $167.9 million, up from $112.1 million in the prior year.
The stock is trading under the "COUP" ticker symbol.
CHILD SEAT RECALL
DETROIT (AP) -- The federal government is ordering child seat maker Graco to explain why it didn't include 1.8 million infant seats in a recall for faulty buckles.
The National Highway Traffic Safety Administration says Graco has until March 20 to explain why last month's recall of 3.8 million child seats didn't include infant seats, which have the same buckles that can get stuck on the child seats.
Graco has said the child seat buckles get stuck because children drop food or drinks on them. It is sending replacement buckles to owners for free. It will also send replacement buckles for infant seats if owners request them.
NHTSA says Graco will face fines of $7,000 per day if its response is late or incomplete.
Graco said Friday it will comply with the request for an explanation.
TRENTON, N.J. (AP) -- A federal audit finds New Jersey did nothing wrong when it used a no-bid contract to hire a firm to clean up debris left behind by Superstorm Sandy in 2012.
But the U.S. Homeland Security Department says that towns that continued to use the firm for more than 60 days without putting the work out to bid might not be fully reimbursed by the federal government.
The contract and the firm, Deerfield Beach, Fla.-based AshBritt, drew the ire of lawmakers months after Sandy struck. That marked the first major political debate over how Gov. Chris Christie's administration responded to Sandy.
The audit was made public Thursday by Christie's office.
Christie's office criticized Democrats and the media for treating the contract as a scandal.
MIAMI (AP) -- A former law partner of convicted Ponzi schemer Scott Rothstein has been charged with conspiring to violate federal campaign contribution laws.
Court records show charges were filed Friday against Russell Adler, who was a principal in the now-defunct Fort Lauderdale law firm Rothstein Rosenfeldt Adler. The firm was liquidated after Rothstein's $1.2 billion Ponzi scheme was exposed in fall 2009.
Adler is charged with helping orchestrate thousands of dollars in bundled contributions from the firm's employees and attorneys to John McCain's 2008 campaign for president and Charlie Crist's run for the U.S. Senate. The contributions were illegally reimbursed by the law firm.
There is no indication that McCain or Crist knew of the illegal scheme. Adler has consistently denied wrongdoing.
Rothstein is serving a 50-year prison sentence.
Company confirms feds investigate visa use
An international tech consulting firm confirms the federal government is investigating its use of U.S. work visas.
A Mu Sigma spokeswoman told The Associated Press authorities asked the company to provide information related to its visas, and the company is cooperating fully.
Privately held Mu Sigma is headquartered in Illinois. CEO Dhiraj Rajaram also runs the company from offices in India.
Federal records show the company has brought in nearly 150 H-1B temporary workers since 2009. The Justice Department did not immediately respond to requests for comments.
The company declined to clarify whether the investigation is targeting H-1B or business visas.
Last year, tech giant Infosys settled a federal case for $34 million over allegations it used business visas to bring in temporary workers hired out for consulting work.
NEW YORK (AP) -- Coca-Cola CEO Muhtar Kent's pay fell 16 percent last year because his performance-based bonus took a hit.
Muhtar Kent's pay package was worth $18.2 million for 2013, according to a regulatory filing made with the Securities and Exchange Commission on Friday. That's down from the $21.6 million he earned the previous year.
The decline was primarily the result of a lower performance-based bonus, which fell to $2.2 million, from $6 million the previous year. That was the result of lower sales volume growth of just 2 percent for the year, compared with 4 percent the previous year.
A new cap was also put into place for the bonus, based on feedback from shareholders.
The AP's calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.
The Good Life
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