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 July 02, 2015 17:44 GMT
WASHINGTON (AP) -- More people sought U.S. unemployment benefits last week, but the level of applications is still low and points to an improving job market.
The Labor Department says weekly applications rose 10,000 to a seasonally adjusted 281,000. The four-week average, a less volatile figure, ticked up 1,000 to 274,750.
Applications are a proxy for layoffs. Even with the increase, they remain far below 300,000, a historically low level that indicates companies are confident enough in the economy to hold onto their workers. That confidence can also cause them to hire more people.
Consumers have stepped up spending on clothing, furniture and cars, spurring faster growth. Home sales have also accelerated and are now running at the highest level in eight years.
WASHINGTON (AP) -- Orders to U.S. factories fell in May by the largest amount in three months, while a key category that signals business investment plans dropped for a second month.
The Commerce Department says factory orders declined 1 percent in May from April, when orders retreated 0.7 percent. Orders in a category that serves as a proxy for business investment were down 0.4 percent after a 0.7 percent decline in April.
Much of the weakness in May reflected a big 35.3 percent fall in demand for commercial aircraft.
But even outside of the volatile transportation category, orders were up only a tiny 0.1 percent. The weak showing suggests that manufacturing is still struggling with challenges such as lower energy prices and a strong dollar, which dampens exports.
GULF OIL SPILL
NEW ORLEANS (AP) -- Officials in Florida, Alabama, Mississippi, Louisiana and Texas have announced an $18.7 billion settlement with BP that resolves years of litigation over the 2010 Gulf of Mexico oil spill.
Thursday's settlement announcement comes as a federal judge was preparing to rule on how much BP owed in federal Clean Water Act penalties after well over 125 million gallons of oil spewed into the Gulf.
BP has said its spill-related costs already exceed $42 billion -- even without the Clean Water Act fine. It's also unclear how much BP will end up paying under a 2012 settlement with individuals and businesses claiming spill-related losses.
The spill resulted from the April 20, 2010, explosion of the Deepwater Horizon rig, which killed 11 workers.
IMF blames Greece govt for predicament; says nation needs debt relief, $56 billion
ATHENS, Greece (AP) -- The International Monetary Fund says Greece needs $56 billion in new financing from October through 2018 because Athens has been slow to enact economic reforms.
The analysis was made before Greece closed its banks and defaulted on IMF loans earlier this week. The outlook is worse now.
Greece's government plans to put austerity measures to voters on Sunday after European creditors rejected its latest proposal for a new aid program.
In Athens today, reporters asked Finance Minister Yanis Varoufakis (YAH'-nihs vah-roo-FAH'-kihs) whether Greeks can expect banks to reopen after Sunday's referendum. He resonded, "Of course!" and when asked when said: "On Tuesday."
He called a deal between Greece and its creditors "a certainty," adding: "Doesn't Europe know what is in its best interest?"
European leaders have said if the vote goes Varuoufakis' way and Greeks reject creditors' demands, Greece will face financial chaos and eventually be pushed out of the 19-nation eurozone.
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Jennifer Timian, acting director of the National Highway Traffic Safety Administration's defect investigation office, made the remarks Thursday to start a public hearing on the company's recall performance.
She says the problems are widespread and involve slow response to vehicle defects that have caused deaths and injuries.
The agency called the rare hearing to listen to evidence that Fiat Chrysler misbehaved on 23 recalls involving more than 11 million vehicles. NHTSA alleges that the company didn't notify car owners quickly enough, failed to make replacement parts or repairs fast enough, and didn't file paperwork on time in numerous instances.
NEW YORK (AP) -- Ford is recalling 433,000 vehicles, including 2015 Focus, C-MAX and Escape models, because of a software problem that could keep their engines running after drivers try to shut them down.
Ford Motor Co. says there is a flaw in the body control module software in the vehicles. As a result of the problem, the engine could keep running after the key is turned to "off" and removed, or after the start/stop button is pressed to turn the engine off.
The company says no injuries or accidents have been associated with the problem. Ford says dealers will update the software at no cost to consumers.
The recall affects about 375,000 cars in the U.S., 52,000 in Canada and 5,000 in Mexico.
PHILADELPHIA (AP) -- Philadelphia has legalized and plans to tax Airbnb and other short-term rentals ahead of Pope Francis' visit in September and next year's Democratic National Convention.
Airbnb says the city on Wednesday became the nation's largest to legalize rentals through online marketplaces. It joins San Francisco and Portland, Oregon, among cities authorizing the transactions.
Philadelphia also changed zoning rules to allow rentals in residential areas and is subjecting them to an 8 1/2 percent hotel tax. The rentals had been operating tax free.
City Councilman William Greenlee says Airbnb-type rentals are essentially short-term hotels and should be made to follow the same rules.
A permit is required for rentals lasting more than 30 days. The city says homes can't be rented out for more than 180 days per year.
WASHINGTON (AP) -- Average long-term U.S. mortgage rates rose this week, reaching high levels for the year.
Mortgage giant Freddie Mac says the average rate on a 30-year fixed-rate mortgage rose to 4.08 percent this week from 4.02 percent a week earlier. The rate on 15-year fixed-rate mortgages increased to 3.24 percent from 3.21 percent.
Mortgage rates have increased in recent weeks, in the midst of the spring home buying season, as the economy has shown signs of improvement.
LOS ANGELES (AP) -- The Reelz channel is coming to the rescue of Donald Trump's Miss USA pageant.
Reelz said Thursday it will carry the pageant that was dropped by NBC after Trump made critical comments about immigrants from Mexico.
In a statement, Reelz chief executive Stan E. Hubbard said the company believes the Miss USA pageant and its contestants are an "integral" part of American tradition.
Reelz, an independent cable and satellite network, decided to exercise its own voice and bring the pageant to viewers, Hubbard said.
He made no mention of Trump, who has faced criticism and lost business deals since making his comments during his presidential campaign announcement last month.
Reelz said Miss USA will be televised Sunday, July 12, the originally scheduled date.
CENTENE-HEALTH NET ACQUISITION
UNDATED (AP) -- Medicaid coverage provider Centene is spending about $6.3 billion to buy fellow insurer Health Net, as managed care companies look to bulk up while adjusting to the federal health care overhaul.
St. Louis-based Centene Corp. said Thursday it will pay a combination of cash and stock valued at $78.57, based on Wednesday's closing price, for each Health Net share. That's a premium of about 21 percent over Health Net's closing price of $65.06. The deal totals about $6.8 billion counting debt.
Both companies' boards have approved the acquisition, which is expected to close early next year.
Health Net Inc., based in Woodland Hills, Calif., gives Centene a chance to increase its enrollment in Medicaid coverage, the state and federal program for the poor and people with disabilities. The overhaul expands Medicaid coverage for millions of people.
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WASHINGTON (AP) -- Federal health officials have approved a new combination drug for the most common form of cystic fibrosis, the debilitating inherited disease that causes internal mucus buildup, lung infections and early death.
The Food and Drug Administration approved the twice-a-day pill from Vertex Pharmaceuticals for a variation of cystic fibrosis that affects about 8,500 people in the U.S. who are 12 years and older. The approval notice was posted to the agency's website.
The new drug, to be sold as Orkambi (or-KAM-bee), is Vertex's follow-up to its breakthrough pill Kalydeco (kuh-LYE-deh-koh), which became the first drug to treat the underlying cause of cystic fibrosis in 2012. Orkambi combines Kalydeco with another new drug ingredient.
Kalydeco is only approved for a cluster of rare forms of cystic fibrosis.
PALO ALTO, Calif. (AP) -- Tesla's second-quarter deliveries surged 52 percent to set a company record exceeding 11,000 vehicles.
The Palo Alto, California, electric car maker surpassed 10,000 vehicles for the first time in the first three months of the year and on Thursday said it had broken that record, delivering 11,507 vehicles.
Tesla makes only one car, the Model S sedan, but CEO Elon Musk said last month he expects to begin deliveries of an SUV, the Model X, in three or four months.
Tesla cautioned Thursday that record deliveries are not an indicator of overall financial results. The company has consistently lost money as it ramps up production. Despite record sales in the first quarter, the company lost $154 million.
Shares of Tesla Motors, Inc. are up 2 percent before the opening bell.
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