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WTVC NewsChannel 9 :: News - Local News

TAWC Buys Marion County Water System

Tennessee American Water announced Monday it has closed the deal on the company's acquisition of the water system assets from the city of Whitwell in Marion County. The purchase price of the newly acquired water system, which serves nearly 2,800 customers in Marion and Sequatchie Counties, is approximately $1.5 million.

The Tennessee Regulatory Authority (TRA) approved the deal in February 2013.

"Tennessee American Water has been delivering high-quality, reliable water service to customers in Tennessee and North Georgia for 126 years," said Deron Allen, President of Tennessee American Water. "With this acquisition, we will expand our existing footprint of operations in Marion County and help ensure local residents have access to a longterm, reliable water supply for years to come. We look forward to working with the Whitwell community and building a long-lasting partnership."

Allen added Tennessee American Water will announce plans to hold a community meeting in Whitwell so customers can meet representatives from the water company and ask questions about water service. The company also plans to send new customer information by mail to ensure a smooth transition.

Over the next few years, Tennessee American Water plans to make needed investments to renew and replace the aging water infrastructure in the communities and areas currently served by the Whitwell water system. According to company officials, these investments will help address the ongoing water losses in the system, increase the water supply for local residents, improve service reliability for outlying residents and upgrade the water treatment plant to meet new state and federal water quality standards.TAWC Buys Marion County Water System

Monday, December 16 2013, 01:33 PM EST

More Business News

Last Update on October 20, 2014 17:25 GMT

IBM-SALE

ARMONK, N.Y. (AP) -- IBM is paying $1.5 billion to Globalfoundries in order to shed its costly chip division.

IBM will make payments to the chipmaker over three years, but it's taking a $4.7 billion charge in its third quarter results.

IBM reports adjusted earnings of $3.68 per share, while revenue totaled $22.4 billion. Analysts polled by FactSet had predicted earnings of $4.32 per share and revenue about a billion dollars higher.

Globalfoundries will get IBM's global commercial semiconductor technology business, including intellectual property and technologies related to IBM Microelectronics. It also gets IBM's existing semiconductor manufacturing operations and plants in East Fishkill, New York and Essex Junction, Vermont, as well as its commercial microelectronics business.

Under the agreement, Globalfoundries will become IBM's exclusive server processor semiconductor technology provider for 22 nanometer (nm), 14nm and 10nm semiconductors for the next 10 years.

CHINA'S SLOWDOWN

NEW YORK (AP) -- A research group says it expects China's economy to slow over the next decade.

The Conference Board on Monday forecast that growth in the world's No. 2 economy will slow to 4 percent per year between 2020 and 2025.

Chinese officials have rolled out stimulus measures as economic growth slows. The government is aiming for growth of 7.5 percent this year.

China's boom in the past decade, with growth peaking at about 14 percent in 2007, was driven by exports and spending on assets such as factories and apartment buildings. China's leaders now want more growth based on Chinese consumers.

EUROPEAN CENTRAL BANK

FRANKFURT, Germany (AP) -- The European Central Bank has started buying securities called covered bonds as it launches its latest stimulus effort aimed at preventing the 18-country eurozone economy from sinking back into recession.

An ECB spokeswoman confirmed the purchases began Monday.

Covered bonds are investments backed by loans such as mortgages. They carry extra protections for investors, which sets them apart from other such asset-backed bonds made from bundled loans.

The ECB is buying them to encourage banks to make the underlying loans. The idea is to get more credit moving to businesses in a eurozone economy that didn't grow at all in the second quarter.

The ECB stimulus efforts also include offers of extra-cheap loans to banks, based on how much they are lending to companies.

PLATFORM SPECIALTY-ARYSTA-ACQUISITION

NEW YORK (AP) -- Platform Specialty Products Corp. said Monday that it will spend about $3.51 billion to buy rival chemical maker Arysta LifeScience Ltd. to diversify its product offerings.

Miami-based Platform makes specialty chemicals used in computers, cars and oil rigs. Arysta, which is owned by a fund backed by private equity firm Permira, makes fungicides and herbicides for crops.

The deal is expected to close in the first quarter of next year.

Arysta, which sells its products all around the world, had revenue of $1.5 billion in 2013. Platform has been growing its agricultural chemical business. Earlier this month, it bought agrochemical company Agriphar for about $380 million.

Shares of Platform are up 3 percent.

SEARS-RAISING MONEY

HOFFMAN ESTATES, Ill. (AP) -- Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million.

The company, which runs Kmart and its namesake stores, also said Monday that it struck a leasing deal with European fashion retailer Primark.

Sears Holdings Corp. said the rights offering will allow its stockholders to buy up to $625 million senior unsecured notes due 2019 and warrants to buy shares of its common stock. It anticipates up to $625 million in proceeds if the offering is fully subscribed and closes as planned. The proceeds will be used for general corporate purposes.

Earlier this month Sears said it would sell most of its stake in its Canadian unit to raise as much as $380 million.

CSX-DEAL TALKS

Canadian Pacific ends CSX deal talks

Canadian Pacific Railway says it has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions about a deal.

The railway operator did not say why it ended talks, but it did note in a brief statement that regulatory concerns appear to be a major deterrent for railroads considering combinations.

Several reports surfaced recently that CSX had rejected a merger offer from Canadian Pacific Railway Ltd. Both railroads declined to comment on those reports, but CSX CEO Michael Ward said last week that regulators would likely take a cautious approach to any railroad consolidation deals.

Besides Jacksonville, Florida-based CSX Corp., the other large railroads are Norfolk Southern, Union Pacific, BNSF and Canadian National.

CSX shares are down more than 3 percent to $32.74 in premarket trading.

AIR BAG RECALL

DETROIT (AP) -- U.S. safety regulators are warning owners of more than 4.7 million vehicles that have been recalled for air bag problems to get them repaired immediately.

The warning issued Monday by the National Highway Traffic Safety Administration covers vehicles from multiple manufacturers that date to 2002.

Inflators can rupture in air bags made by Takata Corp., causing metal fragments to fly out when the bags are inflated in crashes. So far, automakers have recalled about 12 million vehicles worldwide because of the problem.

Safety advocates estimate that more than 20 million cars have the faulty inflators in the U.S. alone. They say at least four people have died from the problem.

The inflators have led to multiple recalls from Honda, Toyota, Nissan, Mazda, General Motors, Ford, Chrysler, BMW and Mitsubishi.

TOYOTA-AIR BAG RECALL

DETROIT (AP) -- Toyota is recalling 247,000 vehicles in high-humidity areas as an air bag problem that has plagued most of the auto industry continues to widen.

The recall posed Monday by U.S. safety regulators covers the 2003 to 2005 Corolla and Matrix, the 2002 to 2005 Sequoia and the 2003 to 2005 Tundra. Also included is the 2003 to 2005 Pontiac Vibe made by Toyota.

Inflators can rupture in air bags manufactured by parts supplier Takata, causing metal fragments to fly out when bags are inflated in crashes. The problem has caused serious injuries. So far, automakers have recalled about 12 million vehicles worldwide because of the problem.

The recall covers vehicles in South Florida, along the Gulf Coast, in Puerto Rico, Hawaii, the U.S. Virgin Islands, Guam, Saipan and American Samoa.

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WTVC NewsChannel9 Stories of Honor

Amazon Creating 80,000 Seasonal Jobs

Amazon Hiring Thousands for the Holidays

Chattanooga-Based Plasticware Maker Adds New Jobs

You Could Benefit from Red Bull Class Action Suit

Sinclair Renews Agreements With ABC Network

Family-Owned Hixson Business Closes for Good on Tuesday

Ford Recalls 850K Cars on Short Circuit Concerns

Chattanooga Candy Company Closing at the End of the Year

A Closer Look: Ways to Hide and Secure Data on Your Smartphone

Home Depot Security Breach Affected 56 Million Credit

Startup Week Chattanooga to Feature National Figures in Innovation and Entrepreneurship

Consumer Problems and New Protections with Downloading Apple's New Software

Federal Reserve Signals It Plans to Keep Key Interest Rate at Record Low

FedEx Hiring 50,000 for Seasonal Work

Speculation Swirls Over Fed Language on Rate Hike

Chattanooga Airport Partners with EPB for Free WiFi

Small Plane from Chattanooga Crashes in Walton County, GA

Chattanooga's Mashburn Outdoor LLC Garners Prestigious Honor

McCallie Graduate Settles Lawsuit with Snapchat Co-founders

Tesla Electric Car Charging Stations Now at Chattanooga's Airport

City of Chattanooga Creating Free Wi-Fi Network for all City Buildings and Public Places

GA Dept. of Labor to Hold Job Training Fair

Apple Issues Recall for Certain iPhone 5 Batteries

New Company, $5M Investment, 35 New Jobs in Chattanooga

Data Breach at Several UPS Stores

Paper Mill Expansion Means 50 New Jobs in McMinn County

Paper Mill Expansion Means 50 New Jobs in McMinn County

Volkswagen Chattanooga Celebrates New Graduates

GM Issues Third Recall on SUVs That Can Catch Fire

PF Chang Customer Security Breach Includes Chattanooga Restaurant

New Retail Stores

3rd Annual GigTank Event Showcases Inventions, Ideas and Innovation

Hardwick Clothes Celebrates 134 Years in Business in Cleveland

Local Business Leaders Discuss Climate Change Impact

Chattanooga Choo Choo Announces Major Expansion

SL Tennessee Adding 1,000 New Jobs

Baby Monitor Recall in U.S.


VW Plans Welcome Center in Downtown Chattanooga

Gas Prices on the Decline

A Tip of the Hat to a Bull Market, VW and Derek Jeter

Belgian Floormaker Chooses Northwest GA for U.S. Headquarters

Roper Recruiting New Employees for Walker County Plant

Report: UAW to Announce Agreement with Volkswagen Thursday

Erlanger Files Notice to Foreclose on Hutcheson Medical Center Property

Taco Mac on Market Street Closing for Two Weeks for Expansion

GM Announces More Recalls

Mahindra-Chattanooga Tractors Expands

ALERT: Toyota, Mazda, Honda

Gas Prices on the Way Up in Chattanooga Area

A Brief History of East Ridge Economic Development

U.S. Reaches Agreement with SunTrust on Mortgage Cases

Hutcheson Announces Management Team Changes

'Operation Famous Salute' Reaches Record Number of Troops

Gas Prices in Chattanooga Area on the Way Down

Ground Broken for Dalton Manufacturing Facility

MAU Workforce Now Hiring in Chattanooga

Lee U. Grad Named New Southeast TN Regional Director

Bass Pro Shop to Anchor New Business in East Ridge

Chattem Plans Expansion, More Full-Time Jobs

Bass Pro Shop Coming to East Ridge

Chattanooga Company on the International Stage

New iPhone, Mac Features Unveiled

Area Gas Prices Down Slightly

Haslam: Tenn. Back in Talks with VW

U.S. Economy Shrinks at 1% Rate in 1st Quarter of 2014

Google to Build Prototype of Driverless Car

Gas Prices Drop for Post-Memorial Day Week

Chattanooga Offering Jobs to Teens, Application Deadline Tuesday

VW Workers Formally Drop Lawsuit against UAW

Plastic Omnium to Build Chattanooga Plant, Creating Almost 200 New Jobs

Mobile 'Career Coaches' Head to Several Local TN Counties to Assist Job Seekers

House Passes Bill Designed to Unlock Chickamauga Lock Funding Logjam

Erlanger Receives Advertising Awards

TN Receives $140,000 for Mine Safety Training & Accident Response

Acclaimed 3D Printing Hacker & Biotechnologist to Speak in Chattanooga

Corker Partners with Google to Help Southeast TN Small Businesses

Truck Drivers Being Recruited for Shaw Industries in Dalton

New Holiday Inn Creating New Chattanooga Jobs

Babcock & Wilcox Intech Inc. Adds 50 Jobs

Chattanooga Coca-Cola Finalizes Expansion, 43 New Jobs

Dalton’s Unemployment Rate Declines to 8.6 Percent

Grandview Medical Center in Jasper to Become Parkridge West Hospital

Morning Pointe Breaks Ground on 5th Building

Chances of Getting Audited by IRS Lowest in Years

GIGTANK Selects Startup Teams for 2014 Accelerator

Mayors Announce Spring Review Board for Mozilla Gigabit Communities Fund

Northwest Georgia's Unemployment Rate Holds at 7.3 Percent

Tennesseans to Receive $2.8 Million from E-Book Price-Fixing Agreement

New Future for The Enterprise Center in Motion

Don Welch Announces Retirement

TVA to Update Progress on Long-range Plan

TVA Employees Contribute $2.6 Million To Local Causes

Volkswagen Recalls 160,000 Passats for Light Issue

Coyote Logistics Buys Chattanooga-based Access America

Volkswagen Workers File Federal Suit to Block Company and UAW Collusion

Coca-Cola Bottling Works Toward Expanding Chattanooga Operations

EPB named Recycler of the Year

CAI, UT Offer Executive Education in Bradley County

Volkswagen-Chattanooga: Life After the UAW Vote

Friday is Deadline in Discount Club Settlement

TAWC Names Gayle Domanski to Management Team

Leadership Chattanooga Now Accepting Nominations

Chambliss, Bahner and Stophel Attorneys Receive Special Honor

TVA Reports First Quarter FY2014 Results

Free Tax Services in Hamilton County

HCA Buys Grandview Medical Center

Tennessee Named '2013 State of the Year'

Legal Pot Takes Hold on Wall Street

New Marketing Director for Chambliss Law Firm

Gas Prices Down for Holidays

TAWC Buys Marion County Water System

The New Market for Drones: Farming?

Chattanooga Whiskey Cancels New Year's Eve 'Barrel Drop'

McKee Foods Sponsors Chattanooga History Center

Volkswagen Announces $17 Million Expansion

Former City Official to Head Chattanooga Whiskey

Suggestions for a Less Stressful Shopping Season

TVA Pays 2013 'Taxes' to Local Governments

Average Area Gas Price back Above $3

TVA Reports Fiscal Year-End 2013 Results

Renovations and Additions to Northgate Mall

Business as Usual at Twitter HQ as Stocks Hit Public Market

User Burnout Could Threaten Twitter's Prosperity

Carol Sim Named as President and CEO of Siskin Hospital

Ruby Falls Honored by Tourism Society

Elizabeth L. Epps Joins Chattanooga Immigration Law Firm

Grand Re-opening of Northgate Mall, Nov. 7

Chattanooga Named One of Top 100 Best Places to Live

Chattanooga Named Code for America City

Investors Keep Faith in U.S. in Crisis after Crisis

Groundbreaking New Jobs in North Georgia

Wacker Plant Hit With Lawsuit

Shaw Industries Hiring

EPA Recognizes Volkswagen Chattanooga for 'Green Power'

Georgia's Unemployment Rate Declines in August

Apple Unveils Next Generation of iPhones

Dolly Tells Don About Her New Resort

Area Gas Prices Basically Stable

New Chattanooga Restaurant Holding Job Fair

WNA Adding 53 Jobs in Chattanooga

Innovative Packaging May be Worth Extra Cost

NewsChannel 9 Owners Buy Allbritton Stations

Dynasty Spas Gives Buyers Opportunity to Benefit Church or Charity

La-Z-Boy Receives Award of Excellence

Erlanger Recognized by U.S. News

Legal Aid Honors Volunteer Attorneys

Metro Dalton's Unemployment Rate Rises in May

Dow Jones Average Falls Dramatically, Again

Blake Strickland Inducted into Tennessee Credit Union Hall of Fame

River Gorge Explorer Earns Certificate of Excellence

Tenn. Board of Regents Committee Recommends Tuition Increases

US Employers Add 175K Jobs, Rate Up to 7.6 Percent

The Top iPhone and iPad Apps

EPB Fi TV Rates Increasing

BBB 2013 Torch Awards & Scholarship Winners

Red Cross East Tennessee Names New Regional CEO

Hutcheson $9.7 Millions Ahead Compared to Last Year

Volkswagen Chattanooga Builds 250,000th Passat Sedan

Unum CEO Announces Retirement

Tenn. Governor Signs Grocery Tax Reduction into Law

Frost Cutlery Building Retail Center

Memorial's Inspire Magazine Receives Awards

TVA Veteran James R. Dalrymple Named VP of Coal and Gas Operations

Little Debbie Logo Has a New, 'Modern' Look

TVA Reports Net Income of $54 Million in Second Quarter 2013

Greenlee Textron Acquires Sherman & Reilly, Inc

Chattanooga-made App Merges Technology to Handwritten Letters

Hot Rod Power Tour Coming to Chattanooga

Dutch Maid Bakery and Cafe Takes Home First Place

New Company Bringing 200 Jobs to McMinn County

Highest Financial Rating for Hamilton County

Tenn. Revenue Collections Up in March

Tenn. House Unanimously Approves Food Tax Reduction

Chattanooga Airport Announces Major Terminal Renovation

Dalton'™s Unemployment Rate Declines to 11 Percent

Brooke Pancake Signs Sponsorship Deal with Financial Group

Hunter Museum Curator Retiring

Tennessee Aquarium Expects 20 Millionth Visitor This Weekend

Whitfield County Business Expo 2013

McKee is High Bidder for Drake's Snack Cakes

Dalton Area Has Highest Unemployment in State

Tenn. January Unemployment Increases Slightly

Tenn. February revenue $5M more than state budgeted

Executive VP Leaving TVA

Memphis Hospital CEO Chosen to Run Erlanger

CBL Announces Promotions

Japanese Officials Visit EPB in Chattanooga

Access America Transport Makes Forbes List

'Cash Mobs' to Hit Downtown Chattanooga Businesses

Chattanooga Chamber Announces Small Business Award Finalists

TVA Reports Sales Flat in First Fiscal Quarter 2013

Hollywog Expands, Adds 22 Jobs

Deal recognizes Georgia Tourism Day, unveils 2013 Travel Guide

Kim Chapman Named 'Woman of Distinction'

Chattanooga Offers Free Parking on Certain Holidays

Chattanooga CVB Honored

Tennessee Dec. Tax Revenues Exceed Projection

Lake Winnie Breaks Ground on Waterpark

Chattanooga Paces State in Job Growth last year

Hamilton Co. Schools Collecting TennCare Money

Chattanooga Attorney Wins Conservation Award

Rhea County Company Adding 50 Jobs

Tenn. November revenue collections higher than last year

Marya Schalk Named to the Mid-South Rising Stars

Brittany Lace Thomas Joins Chattanooga Law Firm

Center on Main Breaking Ground at Upcoming Mainx24

Jimmy F. Rodgers, Jr. Named 'Super Lawyer'

Unemployment Down Slightly in TN and GA

TVA Economic Development Efforts Spur $5.9 Billion in Investments in FY 2012

Spirit of Innovation Award

October sales tax collections fall below estimates

Integrity Staffing Solutions Hiring Seasonal Workers

Company Seeks to Fill 20 Job Openings

William D. Johnson Named Chief Executive Officer of TVA

Ruby Falls named Travel Attraction of the Year

Bridgeport, Ala. Becomes Ground Zero for Major Yamaha Announcement

Chattanooga Oncology to Merge with Larger Group

River City Company Received TAPA Award

CBL to Give Northgate Multi-million Dollar Facelift

BlueCross Laying Off 100 Employees

Krystal Headquarters Leaving Chattanooga

YMCA of Metropolitan Chattanooga Names New CEO

Amazon Hiring 250 in Chattanooga

Tourism Spending Increasing in Hamilton County

Volkswagen Reports Historic Sales Year

HCA - Parkridge Fined $16.5 Million

EPB Fiber Optics Ups Internet Speeds at Same Price

Tenn. General Fund Collections Fall $6M Short

Dalton Tourism Study Launched

Chuck Fleischmann receives 'Guardian of Small Business Award'

Regulators Penalize Area Businesses

Hackanooga 2012: Ignite Chattanooga Hack Days Aims to Build Apps of the Future

iPhone 5's Unveiled, Expected in Stores Sept. 21

Chattanooga Mailman Honored for 50 Years of Service

Excitement Grows Over iPhone 5

Nation's Debt Hits Record High $16 Trillion

Chattanooga IT Company Expanding, Adding 116 Jobs

BBB Issues Rebuke Against Apison-based Moving Company

Good News for Erlanger at Hutcheson

Thousands Of Care Bears Pacifiers Recalled

BellSouth Lawsuits for 911 Fees Can Go Forward

Chattanooga Chamber - Selling to Global Markets Seminar

Dalton Unemployment Climbs to 12.5 percent in July

Chattanooga Pedicabs Going Out of Business

Volkswagen Chattanooga to Host 3rd Minority Business Trade Show

No Rate Increase From TVA

Tenn. General Fund Beats Expectations by $543M

Wacker Updates Status, Still Hiring

Coke Executive Clyde Tuggle to Headline Chamber Meeting Aug. 14

Two New Leaders at Chattanooga CVB

CBL Associate Honored

Verizon Expanding Chattanooga-area 4G Network

Chattooga Plant Gets Help To Fill Positions

New Managers Named at Volkswagen Chattanooga

Tennessee Unemployment on the Increase

Wacker Equipment Travels Long Road

Dalton Unemployment Up Nearly One Percent in June

La-Z-Boy Wins Award for Workplace Safety

NewsChannel 9 Owners Buy Six More TV Stations

Volkswagen Group of America Announces Hardy Brennecke as New CFO

Chattanooga Attorney Appointed to Juducial Review Commission

WTCI Earns 4 Stars from Charity Navigator

Tennessee Tax Collections Up in June

Old LaFayette Bluebird Plant Gets New Occupant

Etowah Waupaca Plant Under New Ownership

New Leader Appointed for Chattanooga Airport

Management Changes at Volkswagen Chattanooga

Area Businesses Fined by Tenn. Dept of Commerce

Nearly All Tennesseans Have Broadband Internet Access

Casino Planned For Cherokee County

Maria Noel is New Chamber Director of Minority Business Assistance

HealthSouth to Break Ground on Expansion

Erlanger at Hutcheson Names Chief Medical Officer

$6M Loan to Improve Hamilton County Wastewater Treatment

International Rotary President Visiting Chattanooga

Tennessee Reduces Grocery Sales Tax

Attempt To Pump Out Sunken Restaurant

Major Milestone for Wacker Polysilicon

Chattanooga Gas Prices Still Falling

Big Hopes For Tourism $$$

Mohawk to Add 500 Jobs in North Georgia

Video: Facebook Stock Drops: Were Investors Misled?

TVA, Marketing Firm Finalists for Pentagon Award

Chattanooga Gas Prices Drop 7 Cents in Last Week

More Georgians Settle for Minimum Wage Jobs

New Operations Manager at Cleveland Airport

Wacker Awards Two More Scholarships

Tenn. Jobless Rate Drops for 9th Straight Month

Georgia's Unemployment Drops Below 9 Percent

Feds: Skechers Deceived Consumers With Shoe Ads

Businesses Urged to Prepare for New Food Tax Rate


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