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Hot Rod Power Tour Coming to Chattanooga
The ingredients for the ultimate performance-car fan experience are combined to perfection every first week of June as the legendary Hot Rod Power Tour makes its seven-cities-in-seven-days journey. For 2013, Chevrolet Performance Presents the Hot Rod Magazine Power Tour Driven by Continental Tire is set to kickoff June 1st in Arlington, Texas and make a stop in 5 other car-crazy towns before it comes to a close in N. Concord (Charlotte), North Carolina on Friday, June 7th. Chattanooga State Community College will host the Coker Tire Cruise Night of the Hot Rod Power Tour, Thursday, June 6th from Noon – 7pm.
The tour brings to life the pages of Hot Rod Magazine, and embodies all that the magazine has stood for in its 65-year history. Over 5,400 enthusiasts will participate in the trip driving their beloved hot rods, street rods, custom trucks, muscle cars, and street machines of every make, model and vintage. Over the 7 tour stops, over 85,000 spectators will be admitted free to take in the daily show of thousands of “to die for” machines and the traveling exhibits of over 50 top aftermarket manufacturers. Along the carefully-chosen tour route in towns big and small, thousands more will stake out roadside viewing spots for this ultimate performance parade.
When the Hot Rod Power Tour descends upon each of the seven host cities, they will leave a massive economic impact on the local economy. Hotels, restaurants, nightclubs, bars and more will play host to the tour participants who are relaxed and enjoying the hot-rodding lifestyle. Participants come from around the world to take part in the Hot Rod Power Tour. They plan for months or even years for the trip, and they come prepared to spend money at each stop.
“We’re very excited to be hosting a return visit of the Hot Rod Magazine Power Tour,” said Bob Doak, President & CEO of the Chattanooga Convention & Visitors Bureau. “Chattanooga hosted the Power Tour in 2010 and watched as thousands of hot rodders from all over the country and the world descended on the city for the one-day event. We’re anticipating the 2013 Power Tour to bring more than 6,000 participants who will leave an estimated economic impact of more than $1 million. This impact will be felt throughout the community and will benefit our hotels, attractions, restaurants and other businesses. We’re looking forward to seeing the 3,500 hot rods this June.”
Locally owned & operated, Coker Tire Company is the Cruise Night sponsor for the festivities in Chattanooga on Thursday, June 6th. Coker Tire is the world's largest distributor of antique and classic tires for automobiles, trucks and motorcycles and is located in historic downtown Chattanooga.
“I am delighted that Hot Rod Magazine has chosen to visit the Tennessee Valley once again”, said Corky Coker, owner of Coker Tire Company. He continued to say, “I know that it is rare for the Power Tour to re-visit the same cities it has been through before, but I know that the city of Chattanooga will roll out the red carpet once again for this power house event and this incredible group of people who follow this annual cross-country tour. The Power Tour is my kind of event. It’s about getting out and driving your car-a celebration of the open road. We’re excited to be a part of the Hot Rod Magazine Power Tour once again and hope all of those registered Power Tour participants will come by the Coker Tire headquarters in historic downtown Chattanooga for a Tour of our facilities in June.”
The Hot Rod Power Tour begins in Arlington, TX at the University of Texas at Arlington on Saturday, June 1. The kickoff sponsor is Ft. Worth-based Painless Performance Products. On Sunday, June 2, the tour moves to the Four States Fairgrounds in Texarkana, AR for a stop sponsored by Edelbrock Performance. The next stop takes the tour the Arkansas Fairgrounds in Little Rock on Monday, June 3. From there, the route goes to Memphis, TN for a stop at the Memphis International Raceway on Tuesday, June 4 sponsored by locally owned & operated industry leader, Comp Cams. On Wednesday, June 5, the Hoover Metropolitan Stadium will host a stop sponsored by Holley Performance Products in Hoover, AL near Birmingham. Chattanooga State Community College in Chattanooga, TN will host the Thursday, June 6 stop sponsored by Chattanooga-based Coker Tire. The Grand Finale for the 2013 Hot Rod Power Tour will be at the zMAX Dragway at Charlotte Motor Speedway in Concord (Charlotte), NC.
“The Power Tour is truly the ultimate hot rodding adventure,” said Jeff Dahlin, Publisher of Hot Rod Magazine. “The event began 19 years ago as a road trip from Southern California to Detroit for a few of the editors and some of their friends who had built magazine project vehicles. 19 years later, it’s amassed over 5,400 vehicles, over 85,000 spectators, 50 of the nation’s premier automotive aftermarket manufacturers and becomes the center of a worldwide buzz in the automotive aftermarket industry every June. We can’t wait to bring the Power Tour, Hot Rod Magazine’s flagship event, back to Chattanooga this June.”
The Hot Rod Power Tour is free to spectators however there is a cost to register a vehicle for just one day or the entire event. Vehicle registration is open to any year, make or model of vehicle. Pre-register for $80 plus $3.50 handling fee or register on-site for $90. Pre-registration runs through Thursday, May 23, 2013 at www.HotRod.com or by calling (877) 413-6515. You can also join the Tour one day only for just $30. One-day registration is available on site only.
For more information, follow the Hot Rod Power Tour at www.hotrod.com, or by calling (877) 413-6515.
More Business News
Last Update on October 20, 2014 17:25 GMT
ARMONK, N.Y. (AP) -- IBM is paying $1.5 billion to Globalfoundries in order to shed its costly chip division.
IBM will make payments to the chipmaker over three years, but it's taking a $4.7 billion charge in its third quarter results.
IBM reports adjusted earnings of $3.68 per share, while revenue totaled $22.4 billion. Analysts polled by FactSet had predicted earnings of $4.32 per share and revenue about a billion dollars higher.
Globalfoundries will get IBM's global commercial semiconductor technology business, including intellectual property and technologies related to IBM Microelectronics. It also gets IBM's existing semiconductor manufacturing operations and plants in East Fishkill, New York and Essex Junction, Vermont, as well as its commercial microelectronics business.
Under the agreement, Globalfoundries will become IBM's exclusive server processor semiconductor technology provider for 22 nanometer (nm), 14nm and 10nm semiconductors for the next 10 years.
NEW YORK (AP) -- A research group says it expects China's economy to slow over the next decade.
The Conference Board on Monday forecast that growth in the world's No. 2 economy will slow to 4 percent per year between 2020 and 2025.
Chinese officials have rolled out stimulus measures as economic growth slows. The government is aiming for growth of 7.5 percent this year.
China's boom in the past decade, with growth peaking at about 14 percent in 2007, was driven by exports and spending on assets such as factories and apartment buildings. China's leaders now want more growth based on Chinese consumers.
EUROPEAN CENTRAL BANK
FRANKFURT, Germany (AP) -- The European Central Bank has started buying securities called covered bonds as it launches its latest stimulus effort aimed at preventing the 18-country eurozone economy from sinking back into recession.
An ECB spokeswoman confirmed the purchases began Monday.
Covered bonds are investments backed by loans such as mortgages. They carry extra protections for investors, which sets them apart from other such asset-backed bonds made from bundled loans.
The ECB is buying them to encourage banks to make the underlying loans. The idea is to get more credit moving to businesses in a eurozone economy that didn't grow at all in the second quarter.
The ECB stimulus efforts also include offers of extra-cheap loans to banks, based on how much they are lending to companies.
NEW YORK (AP) -- Platform Specialty Products Corp. said Monday that it will spend about $3.51 billion to buy rival chemical maker Arysta LifeScience Ltd. to diversify its product offerings.
Miami-based Platform makes specialty chemicals used in computers, cars and oil rigs. Arysta, which is owned by a fund backed by private equity firm Permira, makes fungicides and herbicides for crops.
The deal is expected to close in the first quarter of next year.
Arysta, which sells its products all around the world, had revenue of $1.5 billion in 2013. Platform has been growing its agricultural chemical business. Earlier this month, it bought agrochemical company Agriphar for about $380 million.
Shares of Platform are up 3 percent.
HOFFMAN ESTATES, Ill. (AP) -- Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million.
The company, which runs Kmart and its namesake stores, also said Monday that it struck a leasing deal with European fashion retailer Primark.
Sears Holdings Corp. said the rights offering will allow its stockholders to buy up to $625 million senior unsecured notes due 2019 and warrants to buy shares of its common stock. It anticipates up to $625 million in proceeds if the offering is fully subscribed and closes as planned. The proceeds will be used for general corporate purposes.
Earlier this month Sears said it would sell most of its stake in its Canadian unit to raise as much as $380 million.
Canadian Pacific ends CSX deal talks
Canadian Pacific Railway says it has ended talks with U.S. counterpart CSX about a possible combination and plans no more discussions about a deal.
The railway operator did not say why it ended talks, but it did note in a brief statement that regulatory concerns appear to be a major deterrent for railroads considering combinations.
Several reports surfaced recently that CSX had rejected a merger offer from Canadian Pacific Railway Ltd. Both railroads declined to comment on those reports, but CSX CEO Michael Ward said last week that regulators would likely take a cautious approach to any railroad consolidation deals.
Besides Jacksonville, Florida-based CSX Corp., the other large railroads are Norfolk Southern, Union Pacific, BNSF and Canadian National.
CSX shares are down more than 3 percent to $32.74 in premarket trading.
AIR BAG RECALL
DETROIT (AP) -- U.S. safety regulators are warning owners of more than 4.7 million vehicles that have been recalled for air bag problems to get them repaired immediately.
The warning issued Monday by the National Highway Traffic Safety Administration covers vehicles from multiple manufacturers that date to 2002.
Inflators can rupture in air bags made by Takata Corp., causing metal fragments to fly out when the bags are inflated in crashes. So far, automakers have recalled about 12 million vehicles worldwide because of the problem.
Safety advocates estimate that more than 20 million cars have the faulty inflators in the U.S. alone. They say at least four people have died from the problem.
The inflators have led to multiple recalls from Honda, Toyota, Nissan, Mazda, General Motors, Ford, Chrysler, BMW and Mitsubishi.
TOYOTA-AIR BAG RECALL
DETROIT (AP) -- Toyota is recalling 247,000 vehicles in high-humidity areas as an air bag problem that has plagued most of the auto industry continues to widen.
The recall posed Monday by U.S. safety regulators covers the 2003 to 2005 Corolla and Matrix, the 2002 to 2005 Sequoia and the 2003 to 2005 Tundra. Also included is the 2003 to 2005 Pontiac Vibe made by Toyota.
Inflators can rupture in air bags manufactured by parts supplier Takata, causing metal fragments to fly out when bags are inflated in crashes. The problem has caused serious injuries. So far, automakers have recalled about 12 million vehicles worldwide because of the problem.
The recall covers vehicles in South Florida, along the Gulf Coast, in Puerto Rico, Hawaii, the U.S. Virgin Islands, Guam, Saipan and American Samoa.
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