Tonight: Mostly clear with lows around 60.
Tomorrow: Partly cloudy and warm. Highs in the low to middle 80s.
Tomorrow Night: Mostly clear and pleasant. Lows in the upper 50s to lower 60s.
Highs ... More...
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 July 29, 2014 17:09 GMT
WASHINGTON (AP) -- U.S. consumers are more confident about the economy than they have been in nearly seven years.
The Conference Board's confidence index rose to 90.9 in July from an upwardly revised 86.4 in June. The July reading is the highest since October 2007, two months before the Great Recession officially began.
It was the third straight increase in the index. Economists said that strong job growth has helped boost consumers' assessment of current conditions and also improved their outlook on jobs and the economy.
Conference Board economist Lynn Franco says that the improvements in consumers' confidence and expectations about the future indicate that the recent strengthening in overall economic growth should continue in the second half of the year.
WASHINGTON (AP) -- U.S. home prices rose in May from a year earlier, but at the weakest pace in 15 months.
The Standard & Poor's/Case-Shiller 20-city home price index increased 9.3 percent in May from 12 months earlier. That's down from 10.8 percent in the previous month and the smallest annual gain since February 2013.
Yearly price gains slowed in 18 of the 20 cities. They accelerated in Charlotte, N.C., and were flat in Tampa, Fla.
Existing home sales have picked up, rising to an eight-month high in June. But they are still 2.3 percent below last year's level. And an index of signed contracts dipped in June, suggesting sales will cool.
Home sales have been restrained by weak wage gains and tight credit, particularly for first time buyers.
NEW YORK (AP) -- Pfizer's second-quarter earnings plunged 79 percent from last year, when the world's second-largest drugmaker booked a business spinoff gain of more than $10 billion. The latest results still edged analyst expectations.
Pfizer says it earned $2.91 billion in the quarter. That compares with earnings of $14.1 billion last year.
Revenue slipped 2 percent to $12.77 billion, while analysts forecast $12.47 billion, on average.
Pfizer Inc. is best known for creating medicines for the masses, including the erectile dysfunction pill Viagra, the Prevnar vaccine against pneumonia and related infections and the now-generic cholesterol fighter Lipitor, which was once the world's best-selling drug.
UNDATED (AP) -- A big one-time gain and a tax benefit have helped drugmaker Merck more than double its second-quarter profit, raise the lower end of its profit forecast and easily top analysts' expectations.
The maker of popular Type 2 diabetes pill Januvia and cholesterol medicines Vytorin and Zetia says net income increased to $2 billion from $906 million in the same quarter a year earlier.
The world's fourth-biggest drugmaker reports revenue of $10.93 billion, down 1 percent from $11.01 billion a year ago.
Sales of Merck's prescription drugs totaled $9.09 billion, down 2 percent as cheaper generic competition cut into sales of some older medicines and sales of its hepatitis C drugs was hurt by new brand-name competition.
ATLANTA (AP) -- UPS is lowering its outlook for the year as it announces plans to spend more on technology and other enhancements to improve service during peak season.
UPS says it will spend $175 million on upgrades that include expanded operations on the day after Thanksgiving and sped-up deployment of software designed to help drivers find the quickest route to a destination.
During last year's holiday season, a big increase in online shopping and a crush of last-minute orders by shoppers who jumped on offers of free shipping caught UPS by surprise. The company was forced to hire extra workers to handle the rush, but some gifts still arrived late.
As a result of the boost to spending, UPS has lowered its full-year outlook for adjusted earnings to $4.90 to $5 a share. It previously expected to earn around $5.05 a share.
UPS also says second-quarter profit declined to $454 million from $1.07 billion in the same quarter a year earlier.
DETROIT (AP) -- Suzuki is recalling nearly 26,000 midsize cars in the U.S. because the daytime running light modules could overheat and cause a fire.
The recall covers the Verona from the 2004-2006 model years. It's an expansion of an earlier recall of the Forenza and Reno.
All the cars were made by General Motors in Korea. Suzuki says in documents filed today with government safety regulators that a transistor in the modules can overheat in the instrument panel. That could melt the module, which could cause a fire. Suzuki says there were no fires reported in Verona models.
Dealers will replace the modules for free. Owners will be notified later.
American Suzuki Motor Corp. filed for Chapter 11 bankruptcy protection in November of 2012 and stopped selling automobiles in the U.S.
BEIJING (AP) -- China's anti-monopoly agency says it's investigating Microsoft, stepping up regulatory pressure on foreign technology companies.
The State Administration for Industry and Commerce says it opened a case in June after complaints Microsoft improperly failed to publish all documentation for its Windows operating system and Office software. It says investigators visited Microsoft's China headquarters in Beijing and branches in three other cities this week.
Foreign technology suppliers face growing pressure from Chinese regulators, who have launched anti-monopoly investigations and announced plans to examine products for security flaws.
Microsoft has not responded to a request for comment.
ALBANY, N.Y. (AP) -- Thirteen states have settled an investigation into improper lending with a court agreement that's expected to provide $92 million in debt relief for some 17,800 U.S. military personnel.
New York Attorney General Eric Schneiderman says deceptive practices by Rome Finance Co. included failing to accurately disclose charges and interest rates and helping retailers inflate prices, with repayments take from soldiers' paychecks.
Rome Finance has recently done business as Colfax Capital Corp. and Culver Capital LLC.
The states involved are Colorado, Delaware, Florida, Georgia, Kentucky, Indiana, Iowa, Massachusetts, Michigan, New York, North Carolina, Tennessee and Vermont.
Authorities say military personnel will keep financed merchandise like computers and gaming systems with debt forgiven, including $2.2 million for more than 550 New York residents.
The Good LifeCelebrating the events, adventures and activities that represent "The Good Life" in the NewsChannel 9 viewing area.
SideroadsTake a ride with Brian Smith to explore the unique people and places to be found along the Sideroads of the NewsChannel 9 viewing area.
Road TrippinCome Road Trippin' with us and see all the great sites in your area!
Closings and DelaysThese are the latest School and Business Closings reported to NewsChannel 9. If you see errors or need to add a school or business, call 423-757-7320.
Educator of the YearVote now on your favorite candidate teacher for the Educator of the Year!
Deaf & Hard of HearingInformation provided to NewsChannel 9 by members of the Deaf and Hard of Hearing Community.
Sponsored EventsCheck Back Often for NewsChannel9 Sponsored Events!