Today: Cloudy and cooler with periods of rain. Diminishing rain chances this afternoon. High in the low to mid 60s but falling into the upper 40s lower 50s by late afternoon. Very windy with a NW wind in the afternoon, 20-30 mph.
Tonight: Any remaining ... More...
Maria Noel is New Chamber Director of Minority Business Assistance
The Chattanooga Area Chamber of Commerce has named Maria Noel as its new Director of Minority Business Assistance. Noel will be the first person to hold this position, which the Chattanooga Chamber has created to lead its newly established Minority Business Assistance Program.
According to Tom Edd Wilson, Chamber president and CEO, Noel’s economic development experience and excellent community connections are key factors that position her for success in launching this new initiative. “The Minority Business Assistance Program can only succeed if area business leaders come together in developing and adopting strategies to foster job creation and positive economic activity among minority-owned companies,” Wilson said. “Maria has a great track record for engaging volunteer leaders in a way that gets things done.”
“I am excited about joining the Chattanooga Chamber team, which has done so much to establish our community as a national player in economic development,” said Noel. “I look forward to working with both the staff and the business community with a goal of supporting Chattanooga’s minority-owned businesses in making our economy into a national model for diversity and business friendliness.”
Ron Harr, the Chamber’s in-coming president and CEO, stressed the importance of the Minority Business Assistance Program. “Our local economy cannot achieve its full potential until everyone in our community realizes his or her full economic potential,” Harr said. “Our Minority Business Assistance Program aims to assist emerging and existing minority business owners and entrepreneurs in maximizing their job and wealth creation in our city.”
According to Noel, her first step will be to engage minority business leaders in building out the plan for the initiative. “The Chamber has a variety of effective programs including one of the nation’s largest and most successful business incubators,” Noel said. “In addition to marketing and adapting these programs to maximize the engagement of minority business owners, we will launch new efforts based on the expressed needs and priorities of the minority business community.”
From 2003 to the present, Maria Noel has worked in economic development for The Enterprise Center where her duties allowed her to build strong connections among both businesspeople and residents in many urban communities. Her work included corporate recruitment, supporting existing industry expansion, communicating economic development incentives, business education, and leveraging public-private partnerships in support of community revitalization. The Renewal Community Program, which she managed, resulted in the construction or renovation of 75 buildings while supporting the creation of over 1,000 jobs. Noel’s business experience also includes more than 25 years in marketing, public relations, and communications. In addition, Noel serves on the Chattanooga Neighborhood Enterprise Board, where she is a member of the Executive, Finance and Governance Committees. She is also Vice President of Programs and Special Events for the Chattanooga Technology Council Board and has served on the Board of the Chattanooga Area Regional Transportation Authority.
A native of Chattanooga, Maria earned a Bachelor of Arts in English Literature from the University of Tennessee-Knoxville. She is a 1988 graduate of Leadership Chattanooga
More Business News
Last Update on March 12, 2014 07:32 GMT
MANILA, Philippines (AP) -- Asian stock markets sank today as recent falls in Chinese copper and iron prices added to jitters that the world's No. 2 economy is continuing to slow.
Market angst about China's economy has been fueled by weak exports for February, the government last week allowing the first-ever default in the domestic corporate bond market and the central bank permitting the tightly controlled yuan currency to weaken. China's economic growth of 7.7 percent last year was the lowest in two decades.
Benchmark U.S. crude oil fell below $100 a barrel. The dollar gained against the yen and was unchanged against the euro.
DETROIT (AP) -- There could be some legal potholes ahead for General Motors over its handling of a deadly defect in certain compact cars.
Word leaked of a criminal investigation yesterday and two congressional committees have opened probes into the matter.
The Justice Department is investigating whether GM broke any laws with its slow response to a problem with ignition switches in compact cars from model years 2003 to 2007. That's according to a person briefed on the matter. The probe is said to be handled by the U.S. Attorney's Office in New York.
Spokesmen for the Justice Department and GM would not comment. The investigation was first reported by Bloomberg News.
At issue is why GM waited until February to recall 1.6 million older-model compact cars worldwide, even though it admitted knowing about the problem for a decade. The faulty ignition switches have been linked to 31 crashes and 13 deaths.
WASHINGTON (AP) -- A plan to phase out government-controlled mortgage giants Fannie Mae and Freddie Mac and instead use mainly private insurers to backstop home loans has advanced in Congress.
The agreement by two key senators and a White House endorsement sent shares of Fannie and Freddie sinking Tuesday. Fannie stock fell $1.79, or more than 30 percent, to $4.03. Freddie dropped $1.48, or 26.8 percent, to $4.04.
The plan would create a new government insurance fund. Investors would pay fees in exchange for insurance on mortgage securities they buy. The government would become a last-resort loan guarantor.
President Barack Obama proposed an overhaul of Fannie and Freddie last year, but Congress has struggled to craft legislation. The government rescued the two mortgage giants with a $187 billion bailout, which they have repaid.
401 (k) FEES
WASHINGTON (AP) -- The Labor Department has proposed a new rule that would make it easier for those with 401(k) retirement plans and their employers to locate just what fees and expenses are attached.
Department officials say the rule would update a 2012 rule on the same subject. But many disclosure forms offered since then have become too lengthy, complex and confusing.
There is a public comment period of 90 days. Then, the department will hold focus groups on the proposed new rule with those from financial firms offering such plans, with a particular focus on pension plans with fewer than 100 participants.
CHICAGO (AP) -- The agency that oversees public transportation in Chicago is suing American Airlines.
The suit claims that the airline has falsely claimed to buy "vast amounts of jet fuel" from a small office in a rural community to avoid paying tens of millions of dollars in taxes in the nation's third-largest city, where the actual work is done.
The lawsuit comes a year after the same agency -- the Regional Transportation Agency -- accused United Airlines in a lawsuit of doing the same thing in the same small town.
WASHINGTON (AP) -- Deborah Hersman, the chairman of the nation's transportation accident investigations board, is leaving to become the president and CEO of the National Safety Council.
Hersman blogged that her nearly 10 years at the National Transportation Safety Board have been "a great ride," but she is moving on to the second "dream job" of her career.
She was on-scene for more than 20 accident investigations, including the crash of an Asiana Airlines jet in San Francisco last July.
Under Hersman, the five-member board has called for a ban on all cellphone use while driving, including hands-free calling, and lowering the legal limit for drivers' blood alcohol to combat drunken driving. She is particularly known for championing protections for children, including on planes.
WASHINGTON (AP) -- The Food and Drug Administration has halted operations at a Delaware cheese plant after an outbreak of listeria linked to the company's cheese killed one person and sickened seven others.
This is only the second time the FDA has shut down a plant after gaining that authority in a 2011 food safety law. The agency says that its inspectors found unsanitary conditions at Roos Foods in Kenton, Del., including a badly leaking roof and rusting and deteriorating equipment.
The FDA says it took the action because food manufactured by the company could cause "serious adverse health consequences or death to humans."
The company has already recalled a large variety of its products, including many cheeses in its Amigo, Anita, Mexicana, and Santa Rosa de Lima brands.
MEN'S WEARHOUSE-JOS. A BANK
NEW YORK (AP) -- It's time to suit up: Men's Wearhouse is buying Jos. A. Bank for $1.8 billion.
Men's Wearhouse Inc. will pay $65 per share, a 5 percent premium to Jos. A. Bank Clothiers Inc.'s closing price Monday of $61.83.
The agreement ends a months-long back and forth that began in October when Jos. A. Bank offered to buy its larger rival for $2.3 billion. Men's Wearhouse scoffed at that offer, and turned the tables, offering to buy its rival for $1.54 billion.
By early March Men's Wearhouse had an offer of $63.50 per share on the table but said it may raise the bid to $65 per share if some conditions were met.
The combined company will be the fourth-biggest U.S. men's clothing retailer with more than 1,700 U.S. stores and about $3.5 billion in sales.
The transaction is expected to close by the third quarter.
LAS VEGAS (AP) -- Caesars Entertainment Corp. has reported a large quarterly loss after taking a hefty impairment charge.
The casino corporation said Tuesday it took goodwill and asset-impairment charges because of the continuing slump in Atlantic City and expectations that some of its property holdings may not last as long as expected. The company took nearly $2 billion in impairment charges for the quarter.
The Las Vegas-based company, which runs the Caesars, Harrah's, and Horseshoe brands, has struggled since the recession, and has not posted a profit since 2009.
The Good Life
Celebrating the events, adventures and activities that represent "The Good Life" in the NewsChannel 9 viewing area.
Stories of HonorCelebrate black history all February long with Stories of Honor, sponsored by the Tennessee Lottery.
SideroadsTake a ride with Don Welch 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 WeekEach week WTVC will profile a teacher in Southeast Tennessee and acknowledge their part in the advancement of the education of their students and the contributions to their profession.
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!