Today: Mostly sunny with a high in the low to mid 90s. Light South wind.
Tonight: A fair to partly cloudy sky with an overnight low in the upper 60s.
Humidity levels continue to climb for Friday and into the Labor Day weekend. ... 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.
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Last Update on August 28, 2014 07:37 GMT
ECONOMY-THE DAY AHEAD
WASHINGTON (AP) -- Labor Department releases weekly jobless claims, 8:30 a.m.
WASHINGTON -- Commerce Department releases second-quarter gross domestic product, 8:30 a.m.
WASHINGTON -- Freddie Mac, the mortgage company, releases weekly mortgage rates, 10 a.m.
WASHINGTON -- The Federal Deposit Insurance Corp. releases U.S. bank earnings for the second quarter, 10 a.m.
WASHINGTON -- National Association of Realtors releases pending home sales index for July, 10 a.m.
AMERICANS' ECONOMIC SURVEY
WASHINGTON (AP) -- Despite many signs of a business recovery including improved hiring, Americans are more worried about the economy than they were right after the Great Recession.
A survey released by researchers at Rutgers University says that this pessimism exists despite record Wall Street gains and a host of upbeat economic indicators.
Seventy-one percent of Americans surveyed say the recession put a permanent drag on the economy. In contrast, Rutgers researchers found in a similar survey in November 2009 that only 49 percent thought the downturn would have lasting damage. That earlier 2009 survey was conducted five months after the recession officially ended.
And when the 2009 survey was undertaken, national joblessness was at 9.9 percent of the labor force, compared to the current 6.2 percent.
The survey says people's confidence in the economy has been eroded by the slow pace of improvement during the
TEWKSBURY, Mass. (AP) -- A New England supermarket chain that has been in turmoil for weeks over a workers' revolt and customer boycott has announced that the former CEO will buy a majority stake in the business.
In a statement issued late Wednesday, Market Basket said popular CEO Arthur T. Demoulas (deh-MOO'-lahs) would be returning and taking over day-to-day operations. He was ousted in June by a board of directors controlled by his cousin, Arthur S. Demoulas. Hundreds of warehouse workers and drivers refused to deliver food to the chain's stores, leading to empty shelves and millions in lost revenue.
Market Basket, known for its low prices, has 71 stores in Massachusetts, New Hampshire and Maine.
NEW YORK (AP) -- The FBI is investigating a hacking attack on JPMorgan Chase and at least one other bank. That's according to reports citing unnamed sources familiar with the matter.
A report on Bloomberg.com says the FBI is investigating an incident in which Russian hackers attacked the U.S financial system earlier this month in possible retaliation against U.S. government-sponsored sanctions aimed at Russia.
The attack, Bloomberg says, led to the loss of sensitive data. Bloomberg cites security experts saying that the attack appeared "far beyond the capability of ordinary criminal hackers."
The New York Times, also citing people familiar with the matter, says JP Morgan and at least four other firms were hit this month by what it describes as coordinated attacks that siphoned off huge amounts of data, including checking and savings account information.
The Wall Street Journal also cites unnamed sources in a less detailed report that calls the attacks a "significant breach of corporate computer security."
LOS ANGELES (AP) -- Negotiators hoping to reach a new contract that would keep hundreds of billions of dollars of cargo moving smoothly through West Coast seaports are making significant progress with a tentative deal on health care benefits.
The knotty issue had tied up the talks for months. Specific details weren't released.
The union representing dockworkers insisted benefits be maintained, while the Pacific Maritime Association said the current plan was so generous it had become the target for tens of millions of dollars in fraudulent charges.
The association had focused on limiting fraud while dockworkers complained that emphasis had blocked the payment of legitimate claims.
An overall contract deal still hinges on unresolved issues including job security and workplace safety.
The contract covers workers at 29 ports which are key trade links to Asia.
TYSON FOODS-HILLSHIRE-JUSTICE DEPARTMENT
NEW YORK (AP) -- Tyson Foods will sell its sow purchasing business, Heinold Hog Markets, in order to get regulatory clearance for its $7.75 billion purchase of Hillshire Brands.
The U.S. Department of Justice said Wednesday that Tyson Foods must sell the business in order to preserve competition for farmers who sell sows, or female pigs. The agency said Tyson and Hillshire combine to make more than a third of the sow purchases in the U.S.
Tyson Foods Inc. and Hillshire Brands Co. said they agreed with the department's proposal.
The department says Heinold buys sows from farmers and sells them to sausage makers. It had $270 million in revenue in 2013. That's less than 1 percent of Tyson's total revenue. Hillshire makes the pigs into Jimmy Dean and Hillshire Farm brand foods
Tyson agreed to buy Hillshire in June for $63 per share.
SEC CRISIS RULES
WASHINGTON (AP) -- Federal regulators have voted to require financial firms that sell securities backed by loans, like the kind that fueled the 2008 financial crisis, to give investors details on borrowers' credit records and income.
The Securities and Exchange Commission adopted the rules on a 5-0 vote Wednesday and the regulations cover securities linked to mortgages and auto loans.
The commissioners also imposed new conflict-of-interest rules on the agencies that rate the debt of companies, governments and issues of securities. That vote split 3-2 along party lines, with the two Republican commissioners opposing adoption of the rules.
Home mortgages bundled into securities and sold on Wall Street soured after the housing bubble burst in 2007, losing billions in value. The vast sales of risky securities ignited the crisis that plunged the economy into the deepest recession since the Great Depression and brought a taxpayer bailout of banks.
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