New Leader Appointed for Chattanooga Airport
At the June meeting of the Board of Directors, Chattanooga Airport Authority named Terry L. Hart the new president and chief executive officer of the airport.
“Terry Hart is a proven leader, and a natural fit for the presidency having directed airport operations for nearly five years,” said Dan Jacobson, Chairman of the airport’s board of directors.
“Since assuming the role of interim president, Terry has exceeded expectations and advanced the airport’s goals for the benefit of airport users and the community. The Board is in full agreementthat Terry is the right person to lead the Chattanooga Airport during this exciting time of growth.”
Mr. Hart has been serving as interim president since October 2011 when former airport president Mike Landguth resigned to assume leadership of the Raleigh-Durham Airport Authority in North Carolina.
Mr. Hart has served as Vice President of Operations since joining Chattanooga Airport in November 2007, a position previously held by Mr. Landguth. Mr. Hart has participated in the continued growth of the Airport’s West Side Development projects and significant cargo expansion. Under his leadership as Interim President and CEO, the airport secured additional air service, including first class cabins from Delta Air Lines and their connection carriers. He is also actively involved in the Brainerd Corridor Revitalization Project, partnering with the City on securing vacant buildings and returning the areas to green grass sites. Additionally, Mr. Hart is now overseeing the expansion of the airport’s corporate aviation campus managed by Wilson Air Center. A second LEED Gold certified hangar is under design and will be built by mid-2013.
“The Chattanooga Airport has supported the recent economic growth of our community through partnerships that advanced quality air service and competitive fares, and by offering the highest level of customer service, safety and security,” said Mr. Hart. “We will take those partnerships to the next level and work to ensure the long-term financial sustainability of the airport by diversifying revenue streams in the months and years ahead.”
Mr. Hart’s aviation management experience includes 30 years in operations, strategic planning and administration. Before moving to Chattanooga, Mr. Hart held regional management and vice president of field services positions with American Eagle, including responsibility for a $100 million budget and 1,500 employees. He began his career in customer service and general management for Britt Airways in Chicago, Ill. From November 2007 until October 2011, Mr. Hart oversaw general operations at the Chattanooga Airport including maintenance, fire, police, operations, security and ground handling.
Mr. Hart has earned the distinguished Airport Certified Employee Operations designation by the American Association of Airport Executives (AAAE), and previously served as Chairman of the O’Hare Airline Managers Association. Mr. Hart lives in Chattanooga with his wife, Zita, and their sons Andrew and Stephen.
More Business News
Last Update on August 20, 2014 17:13 GMT
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The milestone represents a dramatic turnaround in sentiment since Apple's shares reached its previous split-adjusted peak of $100.72 in September 2012. The shares peaked at $100.77 Wednesday morning, giving it a market value of roughly $600 billion -- more than any other publicly held company.
Apple's stock fell to a split-adjusted $55.01 in April 2013 to wipe out about $300 billion in shareholder wealth amid worries that the Cupertino, California, company had run out of ideas without Jobs as its mastermind.
Those concerns have faded amid high hopes for an iPhone with a bigger screen.
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The nation's third-largest retailer also said Wednesday that its second-quarter earnings dropped 61.7 percent.
The Minneapolis-based company says it earned $234 million, or 37 cents per share, in the quarter that ended Aug. 2, compared with earnings of $611 million, or 95 cents per share, a year earlier.
Revenue rose 1.7 percent to $17.4 billion, slightly above the $17.38 billion estimate from FactSet.
Excluding expenses related to the breach, the company earned 78 cents per share, which was in line with Target's reduced estimate issued earlier in the month.
Analysts had expected 79 cents per share, according to FactSet.
MOORESVILLE, N.C. (AP) -- Lowe's second-quarter net income increased 10 percent, bolstered by improving weather.
The home improvement company's performance beat analysts' expectations, but the Mooresville, North Carolina, company lowered its full-year revenue outlook slightly, citing its year-to-date sales and prior assumptions for the second half.
Lowe's Cos. earned $1.04 billion, or $1.04 per share, for the three months ended Aug. 1. A year earlier it earned $941 million, or 88 cents per share.
Analysts expected $1.02 per share.
Revenue rose 6 percent to $16.6 billion from $15.71 billion, topping Wall Street's $16.57 billion forecast.
Sales at stores open at least a year, a key indicator of a retailer's health, climbed 4.4 percent.
Lowe's now anticipates full-year revenue rising about 4.5 percent. Its prior outlook was for an approximately 5 percent increase.
BARNES & NOBLE-SAMSUNG
B&N and Samsung introduce co-branded tablet
NEW YORK (AP) -- Barnes & Noble and Samsung on Wednesday unveiled a new co-branded tablet called the Samsung Galaxy Tab 4 Nook that will replace B&N's own Nook tablets.
The 7-inch tablet will sell for $179 after a $20 instant rebate, the same entry price of the non-branded Samsung Galaxy Tab 4.
The move had been expected, since Barnes & Noble said in June it would team up with Samsung to develop Nook tablets that would be available in August.
For the first time, the Nook will have a front- and rear-facing camera. It comes with more than $200 in content from the Nook Store, including books, TV shows and magazines. However, apps are limited to Nook apps rather than the full suite of Android apps available on Google Play.
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The Federal Trade Commission said Wednesday that Berkshire Hathaway Inc. should have notified the Justice Department before it converted $325 million of senior USG notes it held into 21.4 million shares of the company.
Because Berkshire was already a significant USG shareholder, antitrust laws required it to notify regulators because of the size of the deal.
Regulators say Berkshire made a similar mistake six months earlier when it acquired securities in Symetra Financial Corp.
Berkshire officials did not immediately respond to questions about the settlement Wednesday.
Besides investments, Berkshire owns more than 80 subsidiaries in a variety of industries, including insurance, utilities, railroads, retail and manufacturing.
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The Recorder of Greenfield reports that Lamson & Goodnow Manufacturing Co. of Shelburne Falls, Massachusetts, filed for Chapter 11 bankruptcy earlier this month, which protects the company from creditors as it reorganizes.
The business has also put its 18-acre factory complex up for sale.
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HOUSE GOP-BUSINESS GROUP
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The primary is Tuesday but early voting began July 31.
The Chamber ad, which begins airing on Thursday, focuses on Tobin, calling him a "rock solid conservative," and the Democratic incumbent, Rep. Ann Kirkpatrick.
The commercial makes no mention of the two other Republican candidates.
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