Double Cola adds Georgia
The Double Cola Co. is hitting close to its corporate home in Chattanooga with a new partnership with the Atlanta Beverage Co. to distribute Double Cola products in northwest Georgia. Atlanta Beverage will revive Double Cola's history in Rome, Ga., where Double Cola was initially distributed from one of its first bottling plants. Double Cola is heralding its return to the area with a "We Are Back" campaign.
"We are really excited to have our brands back in the Rome market area," said Mitch Reed, Double Cola's director of sales.
Bank of America Corp. to cut 2,100 jobs
Bank of America Corp., the second- largest U.S. lender, plans to cut 2,100 jobs and close 16 mortgage offices as rising interest rates weaken demand for home loans.
Mortgage lenders are paring staff as higher mortgage rates discourage lending. Wells Fargo & Co., the biggest U.S. home lender, plans more than 2,300 job cuts, and JPMorgan Chase & Co. also has indicated it will cut its mortgage lending staff.
The changes "reflect our ongoing efforts to streamline our facilities and align our cost structure with market realities," said Terry Francisco, a spokesman for the Charlotte, North Carolina-based bank.