Hearing Thursday on gas rate hike
The Tennessee Public Utility Commission will conduct a public meeting at 4 p.m. Thursday on the University of Tennessee at Chattanooga campus to receive comments about a proposal by AGL Resources to raise Chattanooga Gas Co. rates for the first time in eight years.
Earlier this year, Chattanooga Gas asked state regulators for permission to raise natural gas prices in Chattanooga and Cleveland, Tenn., by 19.5 percent, or another $6.2 million a year. The gas company said it needs the rate increase to cover inflationary cost increases since the last rate hike and to help pay for the addition of a new $20 million pipeline from an existing liquefied natural gas (LNG) plant into the Red Bank and Signal Mountain areas and to make pressure improvements to better serve Lookout Mountain
TPUC Commissioner Chair Robin Morrison will preside over the public meeting to be held in the Raccoon Mountain Room at UTC, 615 McCallie Avenue. Visitor parking is available at the 5th Street Garage. In addition to the Chattanooga hearing, the PUC will hear testimony from witnesses in a public hearing in Nashville in the Andrew Jackson State Office Building at 9 a.m. on Aug. 21.
Economist keynotes Realtors, HBAC event
The Greater Chattanooga Realtors and the Home Builders Association of Greater Chattanooga will co-host the annual Economic Outlook Luncheon next Tuesday at the Chattanooga Marriott Downtown and Trade Center with the National Association of Realtors’ (NAR) Chief Economist Lawrence Yun as the keynote speaker.
Dr. Yun will discuss recent developments in the national and local housing market and how those developments will impact the Chattanooga region’s economy.
A capacity crowd is expected for Aug. 14 luncheon, which begins at 11:30 a.m. Advanced tickets are required and available for purchase through Greater Chattanooga Realtors by calling 423.698.8001 or email info@gcar.net.
Fleming to keynote Chamber meeting
Nationally recognized chamber of commerce executive Mick Fleming will speak about the power of community leaders at the Chattanooga Chamber of Commerce annual meeting Aug. 22 from 11:30 a.m. to 1 p.m. at the Convention Center.
Also, presentations will include Ambassador of the Year, Chamber Council of the Year, and Chamber Council Membership Award.
“We’ll celebrate our past and our future with a focus on celebrating all that’s ahead for Chattanooga,” said Christy Gillenwater, the Chattanooga Chamber’s president and CEO. “Our keynoter, Mick Fleming, is a longtime friend and colleague with expert community development insight.”
Fleming served for more than 16 years as CEO of the Association of Chamber of Commerce Executives, the professional association for chambers which named the Chattanooga Chamber as Chamber of the Year last year.
Tranco Global adds Atlanta office
Tranco Global, a subsidiary of the Chattanooga-based Tranco Logistics, has opened a second office in Atlanta and is making plans for other facilities near airports in Chicago, New York and Los Angeles to handle the growing volume of expedited freight to and from overseas markets.
Despite concerns about a global trade war and reduced international shipments from proposed new import duties and quotas, Chattanooga-based Tranco Global said Monday its business has grown more than nine-fold in the past year. Company spokesman Peyton Padfield said Tranco Global has grown to 25 employees handling freight shipments in 180 countries around the world.
To accomodate the growing global business, the new office in Atlanta – and similar offies planned in the next year near Chicago’s O’Hare airport, JFK Airport in New York and LAX in Los Angeles – are being added to satisfy the airfreight demand of Tranco customers and overseas agents.
“With more commercial flights than any other airport in the world, opening an Atlanta office allows us to expand our freight capabilities,” Tranco’s chief operating officer, Brad Kemp, said in a statement.
No price hike by MoviePass
MoviePass, a discount service for movie tickets at theaters, is walking back a planned 50 percent price increase following a subscriber backlash. But the cash-starved company will soon impose a cap of three movies per month, instead of one every day.
The company says the new plan will include “many major studio first-run films,” though there will be exceptions the company didn’t specify. In doing so, MoviePass is rescinding a recent cost-cutting move of barring viewings of most major releases during the first two weeks.
MoviePass has grown to 3 million subscribers, from about 20,000, since it slashed monthly rates nearly a year ago to $10, from as high as $50.
But that success has proven costly. Because MoviePass typically pays theaters the full cost of tickets – $15 or more in big cities – a single movie can put the service in the red. Its parent company recently had to take out a $5 million emergency loan to pay its payment processors after missed payments resulted in service outages.