Tonight: Clouds returning and not as cold with an overnight low in the mid to upper 40s. An east to northeast wind at 10mph.
Friday: Mostly cloudy with a slight chance for showers south, especially late day. A cooler afternoon high in the low/mid ... More...
Attempt To Pump Out Sunken Restaurant
by John Madewell
Some have called the sunken barge restaurant on Chattanooga's North Shore an embarrassment. Others say its an eyesore.
But today, for the first time in months, major steps are underway to possibly bring the River Barge and Cafe up off the river bottom.
Three heavy duty pumps are on the job, pumping water out of the sunken building. But those on this operation know it is a tricky one. They are "praying it works."
Owner Allen Casey is optimistic about this effort. His assistant, Brock Sparks, said each pump is pumping out 1,400 gallons per minute. It's an attempt to bring the restaurant above water.
And for those fishing near the Chickamauga Dam today, they may have noticed there was nearly no water flow. That's because T-V-A agreed to help in this raising of the barge attempt. TVA spokesperson Travis Brickey said, "In this case, we are assisting. We had reduced discharge earlier today and now we're at zero out of Chickamauga. We plan to be there until around 7 o'clock tonight"
TVA stopped the flow down river at 2:00 this afternoon. It was well aware of the barge problem and says its not unusual to offer help. Brickey said, "We get requests, we call these special operations. There could be events on the water, I know there are rowing events, regattas, those type of things."
Sparks said pumping started at 9:30 this morning. Three hours later, the crew had removed about five feet of water, but six more remained.
Casey and Sparks say part of the problem was a hole in the floor where soda lines ran to the basement. And when the front, or riverside barge, dropped below water so did four manholes that go to the bottom of that barge. By early afternoon, those were about a foot and a half below water.
The crew hopes the barge rises above water high enough to get to the manholes and start pumping the actual barge out.
NewsChannel 9 contacted the U.S. Army Corps of Engineers which permitted this vessel. Spokesman Lee Roberts said the Corps wants Casey to "get it (the barge) up and out of the water, floating." Roberts went on to say he expects "someone from regulatory to come and take a look."
According to Roberts, fines aren't likely at this point.
Sparks said the plan is to raise the barge, secure it to the shore. Casey said he will have to gut the building. He plans to continue with the floating restaurant concept.
More Business News
Last Update on April 17, 2014 17:08 GMT
WASHINGTON (AP) -- The number of people applying for U.S. unemployment benefits last week rose 2,000 to a seasonally adjusted 304,000. Jobless claims continue to be near pre-recession levels despite the slight increase.
The Labor Department says that the four-week average of applications, a less volatile measure, fell 4,750 to 312,000. That is the lowest four-week average since October 2007, just two months before the Great Recession started. The average has fallen by 53,500 applications over the past 12 months.
Applications are a proxy for layoffs. The current level of claims suggests that employers are holding on their workers with the expectation of stronger economic growth ahead.
Employers added 192,000 jobs in March and 197,000 in February, the Labor Department reported. Hiring has picked up after a slowdown caused by severe winter weather.
WASHINGTON (AP) -- Average U.S. rates on fixed mortgages fell this week for the second straight week as the spring home-buying season begins.
Mortgage buyer Freddie Mac says the average rate for the 30-year loan fell to 4.27 percent from 4.34 percent last week. The average for the 15-year mortgage eased to 3.33 percent from 3.38 percent.
Mortgage rates have risen about a full percentage point since hitting record lows about a year ago.
Many analysts have been expecting an improving economy to lift the housing market, which has been recovering over the past two years. But housing has struggled to maintain momentum. Rising home prices and higher mortgage rates have held back some potential home buyers. Others have had trouble qualifying for mortgages.
NEW YORK (AP) -- Investment bank Goldman Sachs says its first-quarter earnings fell as fixed income trading slumped.
The bank earned $1.9 billion in the quarter, down 11 percent from the same period a year earlier when it made $2.2 billion.
The earnings were equivalent to $4.02 a share. Analysts polled by FactSet had predicted earnings of $3.49 a share.
Revenue totaled $9.3 billion, down 8 percent from a year earlier, when the bank generated revenue of $10.1 billion. The latest quarterly revenue beat analysts' expectations of $8.7 billion.
Goldman's stock rose $2.78, or 1.8 percent, to $160 in pre-market trading.
NEW YORK (AP) -- PepsiCo reports a stronger-than-expected first-quarter profit as the company slashed costs and sold more snacks around the world.
The company, which makes Frito-Lay, Gatorade, Mountain Dew and Tropicana, says global snack volume rose 2 percent while beverages were even from a year ago.
In its closely watched North American beverage unit, PepsiCo Inc. says volume was even. Growth in other drinks offset a 1 percent decline in sodas.
For the quarter, the company earned $1.22 billion, or 79 cents per share. Not including one-time items, it earned 83 cents per share, above the 75 cents per share Wall Street expected.
A year ago, it earned $1.08 billion, or 69 cents per share.
Revenue edged up to $12.62 billion, higher than the $12.39 billion analysts expected.
EL SEGUNDO, Calif. (AP) -- Toy maker Mattel says weak sales of Barbie and markdowns to clear out excess inventory left over from a sluggish holiday season led to an unexpected first-quarter loss.
Toy makers are facing a weak environment globally due to the uncertain economy and popularity of electronic gadgets.
The largest U.S. toy maker says its net loss for the three months ended March 31 totaled $11.2 million, or 3 cents per share. That compares with net income of $38.5 million, or 11 cents per share last year. Analysts expected earnings of 7 cents per share.
The company which makes Disney Princess dolls and Hot Wheels cars says revenue fell 5 percent to $946.2 million. Analysts expected $947.6 million. Barbie revenue dropped 14 percent.
NEW YORK (AP) -- Target is vastly expanding the goods that are available to order by subscription as it fends off its biggest non-traditional retail rival, Amazon.com.
The nation's second-largest discounter first dabbled with subscriptions last September, trying to win over haggard parents with 150 baby care products.
That program has been expanded more than tenfold this week to nearly 1,600 items across a much wider array of consumer goods. Everything from beauty products and pet supplies, to home office supplies like printer ink, are now available through subscription.
Target, based in Minneapolis, is playing catch up in the subscription arena, which has exploded as companies test consumer appetites for almost every niche, from socks to razors, to clothing and entertainment.
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