published Thursday, November 8th, 2012

Business Briefs: American Tire gets state grant

American Tire gets state grant

American Tire Distributors, a North Carolina-based company building a facility in Chattanooga, has received a $508,792 state grant.

The company, which is investing up to $20 million and creating 40 jobs at the Enterprise South industrial park location, will use the money for infrastructure improvements, according to the state Department of Economic and Community Development.

American Tire Distributors is building a 125,000-square-foot distribution center.


Corker seeks fiscal reforms

After winning re-election to a second term on Tuesday, U.S. Sen. Bob Corker, R-Tenn., on Wednesday called upon President Barack Obama "to work with the leadership of the House and Senate to pass a fiscal reform package now."

Corker said he has spent the past 11 months getting ready for the lame duck session of Congress to take up a package of spending cuts and tax revenue increases to limit the federal deficit.

"Let's pass a bill now that implements policies and reforms that put our country on a path to solvency and not some process-only bill that kicks the can down the road." he said.


Fannie Mae earns $1.8 billion

Mortgage giant Fannie Mae earned $1.8 billion from July through September, helped by an improving housing market that has lifted home prices.

Fannie said Wednesday it paid a dividend of $2.9 billion to the U.S. Treasury and requested no additional federal aid.

Taxpayers have spent about $170 billion to rescue Fannie and smaller sibling Freddie Mac, the costliest bailout of the 2008 financial crisis.


Walmart to open two hours earlier

NEW YORK — Attention frustrated Black Friday shoppers who can never grab that hot product: Wal-Mart is hoping to relieve some of that anxiety.

The world's largest retailer is throwing its doors open at 8 p.m. on Thanksgiving Day, two hours earlier than a year ago. It's also guaranteeing shoppers that it will have three of the most popular items it sells if they line up inside the store during a one-hour event that day.

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