Covenant reports quarterly loss on lower revenues

Covenant reports quarterly loss on lower revenues

Covenant Transportation Group has reported that an impairment charge of $11.6 million related to its writing down of an investment in a third-party logistics provider led to a third-quarter net loss of $13.6 million or 96 cents per basic and diluted share. That compared to a loss of $3.4 million or 24 cents per basic and diluted share in the third quarter of last year.

The Chattanooga-based trucking company also reported that total revenue of $153 million in the latest quarter was down 28 percent from $212 million in the same quarter of 2008.

Fondue chain opens eatery

The country's largest chain of fondue restaurants is scheduled to open Wednesday in the Waterside Lifestyle Center near Interstate 75 and Shallowford Road.

The Melting Pot will hold an invitation only VIP event tonight and will open to the public at 5 p.m. on Wednesday.

The 5,000-square-foot facility will hold about 150 patrons and employ about 55 people.

A four-course meal includes a cheese fondue course, a salad, a main entree fondue and a chocolate fondue dessert.

The two-hour dining experience costs an average of $72 to $130 per couple.