TVA shapes new resources plan
The Tennessee Valley Authority is seeking ideas and public input as the federal agency updates its 2011 Natural Resource Plan, which guides how TVA manages 470,000 acres of public lands and waters in its seven-state service area.
The 2011 plan organized TVA’s work into six resource areas, but did not include all of TVA’s Natural Resource efforts. In the 2020 Natural Resource Plan, TVA proposes 10 focus areas that encompass all the Natural Resource functions, including Reservoir Lands Planning, Section 26a & Land Use Agreements, Public Land Protection, Land & Habitat Stewardship, Nuisance & Invasive Species Management, Cultural Resource Management, Water Resource Stewardship, Recreation, Ecotourism and Public Outreach & Information.
TVA is hosting four open house public scoping meetings and a webinar to obtain public input, answer questions and receive comments. A Chattanooga hearing is scheduled for next Thursday night, July 26 from 5-7 p.m. at Chattanooga State Community College in Rooms 124-126, 4501 Amnicola Highway.
Ford recalls vehicles for gearshift problem
Ford is recalling about 550,000 cars and SUVs in North America to fix a gearshift problem that could cause the vehicles to roll away unexpectedly.
The recall covers certain 2013 through 2016 Fusion sedans and some 2013 and 2014 Escape small SUVs.
Ford says a bushing that attaches the shifter cable to the transmission can fall off. If this happens, the driver could shift into park but the vehicle could be in another gear. That could let the vehicle roll, increasing the risk of injury or crash.
The company says it doesn’t know of any crashes or injuries. Ford is advising owners to use the parking brake.
Dealers will replace the shifter bushing at no cost. Owners will be notified by July 30. Parts should be available late this quarter.
Trump urges employers to give more training
President Donald Trump is asking U.S. companies and trade associations to sign onto a pledge to give students and workers more job training and skills development opportunities in the face of increasing automation.
Trump is signing an executive order Thursday to enhance vocational training, creating a national council for U.S. workers and a workforce policy advisory board. The White House says it expects the pledge to lead to at least 500,000 new career opportunities for students and workers.
Senior adviser Ivanka Trump, the president’s daughter, says companies and trade groups will provide “concrete and substantial educational and re-skilling opportunities” for workers and students through the pledge.
AmEx profits rise but so do bad loans
American Express said Wednesday that its second-quarter profit rose 21 percent from a year ago, as the credit card giant saw more customers spending on its namesake cards and a much lower tax rate.
But it had to set aside more money to cover potential bad loans, and saw its delinquency rate rise noticeably. It’s a potential sign that some of American Express’ customers – typically the most creditworthy in the industry – are struggling to pay their bills.
Amex said it had second-quarter profit of $1.62 billion, or $1.84 a share, up from $1.34 billion, or $1.47 a share, in the same period a year earlier. The results beat, albeit barely, expectations of industry analysts who were looking for AmEx to earn $1.83 a share on average, according to survey by FactSet.
AmEx’s charge off rate – the percentage of loans that the company has classified as unrecoverable – stood at 1.8 percent in the quarter. While that’s still among the lowest in the industry, it is up from 1.5 percent a year earlier.