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VW Interns Raise Money for CKOB
Volkswagen Chattanooga handed over a check for $2,700 to Chattanooga Kids On The Block this week as the result of a fundraiser hosted by interns at the factory.
The fundraiser was organized by more than 20 interns, who sold chocolate bunnies and cards to Volkswagen team members for the Spring holidays to raise money for the charity.
Volkswagen Chattanooga currently employs 45 students and new graduates as part of the factory’s internship program. Interns, both local and international, participate in 3- and 6-month long internships across a variety of departments.
“Philanthropy is an important aspect of the corporate culture at Volkswagen Chattanooga and we are excited to see our young professionals also embrace it,” said Hans-Herbert Jagla, executive vice president of Human Resources. “They have worked hard to put a plan into action and we are happy that the end result is a donation to a great organization, Chattanooga Kids On The Block.”
Chattanooga Kids On The Block is a chapter of the international organization that provides educational programs to children with the use of child-size puppets. The organization seeks to empower children to lead safe and healthy lives. The programs address various disabilities, educational and medical differences and social concerns. The Chattanooga chapter has been active since 1979.
“Chattanooga's Kids on the Block is extremely honored to be chosen by the interns serving Volkswagen as beneficiaries of their fund raising event,” said Kelly Williams, executive director of Chattanooga Kids On The Block. “The Volkswagen team has and continues to show its commitment to our community through their generous support of local charitable organizations and its dedication to enhancing the quality of life in our area.”
Volkswagen Chattanooga currently supports 42 local non-profit organizations through the factory’s annual charitable funding cycle. Organizations include the Urban League, the Boys and Girls Club of Chattanooga and umbrella organizations like the United Way and Allied Arts that fund a number of organizations serving the city of Chattanooga.
More Business News
Last Update on August 19, 2014 17:11 GMT
WASHINGTON (AP) -- U.S. consumer prices rose in July, at the slowest pace in five months.
The Labor Department says consumer prices edged up a seasonally adjusted 0.1 percent last month, after larger gains of 0.3 percent in June and 0.4 percent in May.
The July price restraint came from falling gasoline prices, which had surged in June. All energy prices were down 0.3 percent and this helped offset a 0.4 percent rise in food costs, which have been pushed up by adverse weather including a drought in California.
Over the past 12 months, consumer inflation is up 2 percent while inflation excluding food and energy is up 1.9 percent. Price gains around 2 percent are considered moderate and meet the 2 percent inflation target set by the Federal Reserve.
Analysts believe overall prices will moderate further in coming months, helped by moderation in energy costs.
WASHINGTON (AP) -- U.S. home construction rebounded in July, rising to the fastest pace in eight months and offering hope that housing has regained momentum after two months of declines.
The Commerce Department says construction increased 15.7 percent in July to a seasonally adjusted annual rate of 1.09 million homes. That was the fastest pace since November and followed declines of 4 percent in June and 7.4 percent in May.
Applications for building permits, considered a good sign of future activity, also showed strength in July, advancing 8.1 percent to an annual rate of 1.05 million, after declines of 3.1 percent in June and 5.1 percent in May.
The July rebound reflected strength in single-family home construction, which rose 8.3 percent, and in apartment construction, which was up 33 percent.
ATLANTA (AP) -- Home Depot's fiscal second-quarter net income increased 14 percent thanks to a rebound in its spring selling season.
Spring is the biggest season for home-improvement retailers, as homeowners and others work on their yards and gardens. While the season started off a bit cold and rainy, weather improved and shoppers headed out to stores to pick up supplies.
For the three months ended Aug. 3, Home Depot Inc. earned $2.05 billion, or $1.52 per share. A year earlier it earned $1.8 billion, or $1.24 per share.
Home Depot's stock gained $2.53, or 3 percent, to $86.12 before the market open.
Revenue climbed nearly 6 percent to $23.81 billion from $22.52 billion. This beat Wall Street's forecast of $23.57 billion.
CORAOPOLIS, Pa. (AP) -- Dick's Sporting Goods says its net income fell 17 percent in its fiscal second quarter, but its result still beat analysts' expectations and its shares rose in premarket trading.
The sporting goods retailer says it cut jobs in its golf business because of weaker demand for golf gear and services, but it doesn't say how many employees were let go.
The company says profit fell in the second quarter to $69.5 million from $84.2 million in the same quarter a year ago.
Earnings, adjusted for restructuring costs, came to 67 cents per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.
Shares of Dick's Sporting Goods rose 5.7 percent to $45.97 in premarket trading today.
FRAMINGHAM, Mass. (AP) -- TJX says its second-quarter net income climbed 8 percent as sales strengthened in the U.S. and abroad.
The results for the parent company of T.J. Maxx, Marshalls and other stores topped Wall Street's view. TJX also lifted its full-year earnings forecast, citing its better-than-expected second-quarter performance.
TJX earned $517.6 million for the period ended Aug. 2. That compares with $479.6 million a year earlier.
RECARO-CHILD SEAT RECALL
DETROIT (AP) -- Recaro is recalling more than 39,000 child safety seats because they can let a child's head move too far in a crash.
The recall covers ProSport model 385 seats made from June 16, 2010, to Jan. 31, 2013. The problem happens when the seats are installed with the lower latch anchors and without the top tether.
Recaro will notify owners and provide set of new instructions telling owners not to use the lower latch system with a child weighing 40 or more pounds. The company also will send a new instruction label for the seat.
The problem was discovered in testing by Recaro. The company says in documents sent to U.S. safety regulators that it cannot determine if the problem caused any injuries.
WASHINGTON (AP) -- Brita is recalling more than 242,000 children's water filter bottles because the bottle lid can break or crack, possibly causing serious cuts.
Brita has received 35 reports of lids breaking or cracking, but no injuries have been reported.
The recalled bottles are a violet bottle with Dora the Explorer, a pink bottle with Hello Kitty, a blue bottle with SpongeBob Square Pants and a green one with Teenage Mutant Ninja Turtles.
Each bottle has a Brita logo and white lid. And they're 6 inches tall and hold 15 ounces of liquid.
Consumers can return the bottles for a full refund. Information is at www.brita.com .
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