Tennessee Valley Railroad Museum names new vice president, chief operating officer
The board of the Tennessee Valley Railroad Museum has elected Brent Lambert as vice president and chief operating officer.
Lambert, the mayor of East Ridge, previously served as the museum’s director of development and passenger sales. In his new job, he will provide day-to-day leadership of TVRM’s passenger operations, customer service, retail and food services, and marketing.
TVRM’s volunteer president, Tim Andrews, will continue in his role while Lambert will concentrate on daily operations.
“This promotion is a reflection of the growing size and complexity of TVRM and is a recognition by the TVRM board that the organization continues to grow beyond the simple hobby club that formed its roots 56 years ago,” said Jim Miller, corporate secretary for the museum.
More than 100,000 passengers ride TVRM trains every year, up 20 percent from 2013 when Lambert joined TVRM.
Lambert earned his bachelor’s degree from the University of Tennessee at Chattanooga and a master’s degree from Valdosta State University.
Volkswagen of America names head of design center
Volkswagen of America has appointed Reto Brun as director of the Design Center California in Santa Monica, Calif., now a dedicated VW brand studio.
He will oversee the design team and development of Volkswagen concepts exclusively for the U.S. market, and ensure collaboration with the Volkswagen Group of America Engineering and Planning Center in Chattanooga and Volkswagen AG in Wolfsburg, Germany.
Reto Brun“His strong design background and expertise in the U.S. market will be integral in leading the conceptualization of products that are competitive, desirable to American buyers, and accurately reflect Volkswagen ideals,” said Matthias Erb, executive vice president and chief engineering officer for Volkswagen Group of America.
CBL, Women’s Wear partner on gift guide
Shopping center operator CBL Properties on Wednesday announced a strategic holiday partnership with fashion and retail trade publication Women’s Wear Daily to produce the “Ultimate Holiday Gift Guide.”
Chattanooga-based CBL curated the gift guide with retailers across its national portfolio, highlighting some of the looks and trends for this holiday season. Users of the guide will be eligible to win a $5,000 prize and the complete guide is available on the WWD website and is shoppable in-store across CBL’s portfolio.
“In partnering with WWD to create this gift guide, we are combining digital and physical channels to capture the imagination and engagement of our customers through this unique holiday shopping experience,” CBL President Stephen Lebovitz said.
Airline insurers pay $95 million to settle Sept. 11 attack claims
Insurers for defendants including American Airlines and United Airlines have agreed to pay $95 million to settle claims that security lapses led planes to be hijacked in the Sept. 11 attacks.
The settlement was described in papers filed in Manhattan federal court. Developers of the new World Trade Center buildings had once demanded $3.5 billion from aviation companies after hijacked planes destroyed three skyscrapers on Sept. 11, 2001.
Developer Larry Silverstein and World Trade Center Properties have collected more than $5 billion from other defendants through numerous lawsuits. The money has aided the reconstruction of buildings on the 16-acre lower Manhattan site.
Earlier settlements included $135 million paid to a financial services firm that lost two-thirds of its employees.
Mortgage rates mixed this week
The rate on benchmark 30-year, fixed-rate mortgages slipped this week to 3.92 percent from 3.95 percent last week. But the 15-year, fixed-rate mortgage, popular among homeowners seeking to refinance, blipped up to 3.32 percent from 3.31 percent.
A year ago, the 30-year rate stood at 4.03 and the 15-year rate at 3.25 percent.
Mortgage rates often follow the yield on 10-year Treasury notes, which dipped this week.
The five-year adjustable mortgage rate rose to 3.22 percent from 3.21 percent last week and 3.12 percent a year ago.