Tennessee authorities say a Colorado man has permanently been barred from selling securities in Tennessee and fined more than $12,000 as punishment for his role as an unregistered agent representing a Chattanooga natural gas and oil company. In a news release, the Tennessee Department of Commerce & Insurance said Steven S. Boulter, who lives in Central City, Colorado, found investors who gave money to the local company, Chattaco, between 2012 and 2014. Company Harry Thompson, of Hixson, promised investors large profits from leases on natural gas wells in Magoffin County, Ky. But investors never received the rate of return they were promised nor any repayment for their principal investment, according to the TDCI release. And Boulter wasn't registered with TDCI's Securities Division, which is a violation of state law. "In Tennessee, it is unlawful for any person to transact business from or in this state as a broker-dealer, agent, investment advisor or investment advisor … [Read more...] about Man fined for investment scheme in Chattanooga
Chattanooga
Chattanooga-made VW Atlas sales in July hit record
Volkswagen's Chattanooga- made Atlas SUV had its best month ever in July, racking up sales of 6,499 units and helping the German automaker post a 12.7 percent increase in the month. The company's surge came as most automakers reported lower sales in July over the same month a year ago. Charlie Chesbrough, senior economist for Cox Automotive, said overall sales for the automakers generally came in weaker than forecast for July. He said that "we have always felt that sales would begin trending downward in the second half. July might indicate the market has finally taken the turn we've been expecting." A Volkswagen employee walks around an Atlas SUV as he checks on its doors at the Chattanooga assembly plant. A Volkswagen employee walks around an Atlas SUV... Photo by Erin O. Smith /Times Free Press. But for Volkswagen of America, sales of 30,520 units was its best July in three years, with the Atlas accounting for well over 20 percent of the total. The previous … [Read more...] about Chattanooga-made VW Atlas sales in July hit record
Chattanooga Whiskey debuts new flavors
Chattanooga Whiskey debuts new flavors Chattanooga Whiskey announced Thursday it will release on Aug. 10 what it bills as its most unique bourbons since the company's 7-year history. Batch 009 is Tennessee Double Malt and Batch 010 is Tennessee Double Barrel. Both batches showcase the high malt style and bold approach to traditional bourbon whiskey. Starting in 2011, Chattanooga Whiskey challenged the law and won the right to distill whiskey in Chattanooga for the first time in over 100 years. The Chattanooga Whiskey Experimental Distillery now hosts over 25,000 visitors per year, and serves as the hub of innovation to push the boundaries of craft bourbon and whiskey. \ The Riverfront Distillery is the production home to Chattanooga Whiskey's signature Tennessee High Malt whiskey, scheduled to release in 2019. 100 Black Women plan wealth seminar The National Coalition of 100 Black Women, Chattanooga Chapter, is hosting its annual Make It Matter! Make It Happen! Make It a Healthy … [Read more...] about Chattanooga Whiskey debuts new flavors
Chattanooga Prep opens its doors to first class of boys [photos]
Gallery: Chattanooga prep opening Despite the Election Day traffic, despite the steady downpour of rain, despite first-day jitters, there was joy in the air Thursday as the 66 new students of Chattanooga Preparatory School were greeted by more than 300 men to start the school day for the first time. Chattanooga Prep, the city's first all-boys public charter school, founded by Ted and Kelly Alling and partnered with Chattanooga Girls Leadership Academy, officially opened its doors. Elaine Swafford, executive director of both CGLA and the new boys school, said Thursday was historic. "This is the most important thing going on in Chattanooga today," Swafford said. "What we are about to see is changing the lives of this class of 2029. We are affording this group of boys an advantaged education that they wouldn't have otherwise." Yet, the first day of school is both the end and the beginning of a journey. It is the end of the process … [Read more...] about Chattanooga Prep opens its doors to first class of boys [photos]
Second quarter results take toll on shares of many Chattanooga businesses
Springtime is often regarded as the season of hope, growth and optimism. But the second quarter has proved far different for investors in many of Chattanooga's publicly traded companies. Shares in most of Chattanooga's biggest companies have dropped — some by double-digit amounts — after the businesses reported their second quarter earnings in the past couple of weeks. The market value of Chattanooga's stock-traded companies shed more than $3.5 billion in market value over the past two weeks as the earnings reports were released. Shares of both CBL Properties and Dixie Group fell today after the companies reported second quarter results. CBL earnings beat expectations, but the company's profits fell by 8 percent from a year ago and the company warned it may cut its dividend. Dixie Group reported its fourth consecutive quarter of losses today, and again failed to meet analysts earnings projections. CBL shares are trading nearly 11 percent lower and Dixie … [Read more...] about Second quarter results take toll on shares of many Chattanooga businesses