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Volkswagen Announces $17 Million Expansion
Volkswagen Chattanooga announced Wednesday that it has begun construction activities on an extension of the assembly shop parts warehouse at its Tennessee factory.
The warehouse extension, scheduled to be operational by August 2014, will add 198,400 square feet to the existing 104,600 square feet. The total warehouse space in the plant will now be 303,000 square feet.
“By extending our warehousing capacity inside the plant, we are streamlining our logistics operations, making the production of the Passat even more efficient,” said Frank Fischer, CEO and Chairman of Volkswagen Chattanooga. “These kinds of continuous improvement processes are an indication of the maturation of this facility and a testament to the standard of excellence of our team.”
By extending the current warehouse building in the assembly shop, Volkswagen will eliminate the need for two current external staging warehouses. This project solely affects production of the Passat.
The expansion represents an investment of $17.7 million dollars and will add 14 dock doors for parts delivery with the option to expand that by an additional 20 loading docks in future.
The project’s construction partner is Gray Construction.
Volkswagen Chattanooga produces the Passat for North America, Canada, Mexico, South Korea and the Arabian Gulf Coast Countries.
Photo: (l-r) Ulfert Stier, General Manager, Logistics; Frank Fischer, CEO and Chairman, Volkswagen Chattanooga; David Calfee, Manager, Plant Construction; Heinrich Keulmann, General Manager, Plant Engineering.
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Last Update on August 22, 2014 07:30 GMT
FORT WORTH, Texas (AP) -- American Airlines says it will extend its fee for unaccompanied minors to charge $150 extra each way for children between 5 and 14.
The change starts Sept. 3. Currently, American charges a fee on top of the regular fare for unaccompanied minors between 5 and 11.
The airline announced the change Thursday in an employee publication.
American says extending the fee to more youths will ensure the safest possible travel for them and match the policy at US Airways. The two merged in December to form American Airlines Group Inc.
United Airlines charges $150 each way for minors 5 to 11; Delta charges $100 each way for those 5 to 14; at Southwest it's $50 each way for kids 5 to 11.
NEW YORK (AP) -- A report from the Census Bureau is the latest evidence that the rich are getting richer while the poor get poorer.
The study released Thursday divided the U.S. into five groups, from wealthiest to poorest. The median net worth of the richest households rose 11 percent between 2000 and 2011, to $630,754. The next-wealthiest group's net worth also rose.
But because wealth dropped for the majority of Americans, the median household net worth for the country overall declined about 7 percent to $68,828.
The report was compiled using surveys done by the Census. It includes stocks, money in the bank, home values, retirement accounts and other assets in its measurement of net worth.
AIRLINES-LABOR DAY TRAVEL
Airline group forecasts uptick in Labor Day travel
A trade group for the nation's big airlines predicts that air travel over the Labor Day weekend will rise 2 percent from the same holiday last year.
If correct, the forecast would be more good news for the airlines. Nine big U.S. carriers earned $3.8 billion in the first half of this year, allowing them to pay down debt, reward shareholders and order new planes.
Airlines for America predicted Thursday that 14 million people would fly within the U.S. in the seven days ending Sept. 2, the day after Labor Day.
Separately, the auto club AAA forecasts that 34.7 million Americans will travel at least 50 miles from home by car or plane over a 5-day period ending on Labor Day. That would be a 1.3 percent increase over 2013.
NEW YORK (AP) -- Home Depot says Craig Menear, the president of its U.S. retail operations, will become president and CEO of the company Nov. 1.
Frank Blake has been Home Depot's chairman and CEO since 2007, and he will remain chairman of the company.
Menear became president of the company's U.S. retail unit in February. He has worked for Home Depot since 1997.
Home Depot Inc. is based in Atlanta and is the largest U.S. home improvement retailer. On Tuesday, the company reported strong second-quarter results and raised its forecast for the full year. It said purchases of major items like appliances and water heaters improved compared to last year, and its results have been helped by the improving U.S. housing market.
DETROIT (AP) -- Ford is recalling more than 160,000 vehicles in North America for two safety issues.
The largest recall involves 159,395 Focus ST and Escape vehicles from the 2013 and 2014 model years. Ford says their engines could hesitate or stall because of a wiring problem.
Ford also is recalling 616 Focus and C-Max cars made earlier this month because their steering gears don't have the proper number of ball bearings. That can potentially degrade the remaining ball bearings and lead to a loss of steering control.
Ford says there have been no accidents or injuries related to either recall. The 616 cars are still at dealerships and haven't been sold.
Ford Motor Co. will notify customers and repair the vehicles for free.
NEW YORK (AP) -- A U.S. judge says Argentina's announced plans to evade his orders by failing to make required payments to U.S. bondholders is illegal and cannot be carried out.
Judge Thomas Griesa called the republic's actions toward U.S. bondholders "lawless" at a court hearing in New York City on Thursday.
But he stopped short of finding Argentina in contempt.
Argentine officials have called the U.S. hedge funds that refused to swap their bonds for lesser valued ones "vultures."
The funds are owed about $1.5 billion. Argentina says paying it would force it to owe other bondholders over $20 billion.
A lawyer for Argentina urged the judge to reject as premature a request by U.S. bondholders that Argentina be found in contempt.
TIJUANA, Mexico (AP) -- Thousands of Mexican citizens deported by U.S. authorities are finding refuge at call centers in Tijuana and other border cities.
In perfect English -- some hardly speak Spanish -- they converse with American consumers who buy gadgets, have questions about warrantees or complain about overdue deliveries.
Many of the workers spent nearly all their lives in the U.S., which is a major selling point for Mexico over English-language industry leaders like India and the Philippines. They can chat comfortably about the U.S. housing market and Super Bowl contenders. They know slang.
One consulting firm estimates that by end of the year, Mexico's outsourced call centers will have more than 85,000 workstations -- which may be staffed two or three shifts a day. It expects Mexico to hit 110,000 in 2020.
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