Wednesday, June 13 2012, 01:23 PM EDT
Area Businesses Fined by Tenn. Dept of Commerce
These are the Chattanooga-area businesses which were fined by the Tennessee Dept. of Commerce and Insurance in May:

Respondent:    CTS Protective Services, Inc., C-1210 - Rossville, GA
Violation:    TCA 62-32-304(j) & (k), 62-32-307(d), 62-32-312(a),(c) & (d)
    Rule 0090-01-.05(3) Failure to register alarm employees within thirty (30) days.
Action:    $18,300 Civil Penalty

Respondent:        East Tennessee Solar, Athens, TN
Violation:        Unlicensed Activity
Action:            $1,000 Civil Penalty

Respondent:        Clifford and Angela Evans, Dayton, TN
Violation:        Poor Workmanship
Action:            $500 Civil Penalty

Respondent:        Southeast Painters Inc., Chattanooga, TN
Violation:        Unlicensed Activity
Action:            $1,000 Civil Penalty

Respondent:    Mountain View Memorial Gardens, Decatur, TN
Violation:    Failed to properly trust outer burial containers sold as funeral merchandise, offered and sold preneed funeral contracts without first registering with the Commissioner as a Preneed Seller and individuals as a Preneed Sales Agent, failed to provide a detailed listing of preneed merchandise and service contracts sold but not yet serviced, failed to order monuments and failed to deposit funds into trusts within the required time
Action:    $3,000 Civil Penalty

Respondent:        James M. Wall, Rising Fawn, GA
Violation:        Failed to continuously maintain insurance.
Action:    Revocation of home inspection license and assessed all investigatory and hearing costs

Respondent:    Kondo Auto, Cleveland, TN
Violation:    Signage
Action:    $250 Civil Penalty

Respondent:    Honda of Cleveland, Cleveland, TN
Violation:    Temporary Tag Log Violation
Action:    $4,000 Civil Penalty

The Tenn. Department of Commerce and Insurance works to protect consumers while ensuring fair competition for industries and professionals who do business in Tennessee., @TNCommerceInsur (Twitter), (Facebook), (YouTube)

Area Businesses Fined by Tenn. Dept of Commerce

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Last Update on October 12, 2015 17:10 GMT


NEW YORK (AP) -- A survey of business economists says a majority still expect the Federal Reserve to raise interest rates before the end of the year, with the broader economy expected to grow at a slightly faster pace in 2015 than previously forecast.

Economists surveyed by the National Association for Business Economics now expect the gross domestic product to rise 2.5 percent for the year, when adjusted for inflation.

That's up from the previous forecast of 2.4 percent in June.

The uptick is the result of a stronger-than-expected growth in the first half of the year, however. For the remainder of the year, economists have lowered their forecast.


LONDON (AP) -- Budweiser brewer Anheuser-Busch InBev has increased its bid for SABMiller to 70.4 billion pounds ($108.2 billion) in its latest effort to win approval from directors who have rejected three previous offers.

AB InBev is now offering 3.2 percent more than its previous bid and 14 percent higher than its initial offer.

Tensions between the companies have risen since the first offer was announced Sept. 16, with AB InBev accusing SABMiller's board of failing to engage meaningfully in negotiations. SABMiller argued that the previous offers undervalue the company.


NEW YORK (AP) -- Dell is buying data storage company EMC in a deal valued at approximately $67 billion.

Shareholders of EMC Corp. will receive about $33.15 per share, which includes cash plus tracking stock linked to part of EMC's economic interest in the VMware business.

VMware will stay an independent, publicly traded company.

Michael Dell will serve as chairman and CEO of the combined business.

Dell Inc.'s headquarters will stay in Round Rock, Texas. The combined enterprise systems business headquarters will be in Hopkinton, Massachusetts, where EMC is based.

The deal is targeted to close in the second or third quarter of Dell's fiscal year ending Feb. 3, 2017. It still needs approval from EMC shareholders.


MILAN (AP) -- Fiat Chrysler Automobiles NV has begun the process of selling a near 10-percent stake in luxury sports car brand Ferrari to Wall Street investors.

Fiat Chrysler says in a statement that the initial public offering will price Ferrari at $48 and $52 per share, which will value one of Formula 1's most famous marques at $9.8 billion.

Fiat says the stake sale is part of a "series of transactions to separate Ferrari from FCA."


BEIJING (AP) -- Ford Motor Co. is investing $1.8 billion to develop technologies aimed at attracting Chinese car buyers, underlining China's importance to automakers despite slowing sales growth.

The American automaker says it will expand its research and development center in the eastern city of Nanjing and work on autonomous driving, smartphone connectivity, more efficient powertrains and other technologies.

Global automakers see China as a key source of sales growth and are spending heavily to appeal to Chinese tastes. Some have broken with a strategy of selling the same models worldwide and are creating China-only vehicles.


FRAMINGHAM, Mass. (AP) -- The Federal Trade Commission is pushing back the review deadline for the tie-up between Staples and Office Depot.

The agency was expected to make a decision by mid-October, but now says that it has mutually agreed with the companies to extend the review and decision to Dec. 8.

Staples Inc. is trying to buy one-time rival Office Depot for $6.3 billion. The deal, announced in February, is part of a rapid consolidation in the office supply sector that has been hammered by technological changes in the workplace and by competition from and other online retailers.

Office Depot Inc. shareholders approved the buyout in June.

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