Piech Way honors VW AG leader
Ferdinand Piech, chairman of Volkswagen AG, has a new road named after him in Hamilton County.
An artery leading into Chattanooga’s VW plant at Enterprise South industrial park has been christened Ferdinand Piech Way.
Piech is the powerful head of VW’s supervisory board and mastermind of the automaker’s plan to drive it to become the world’s No. 1 automaker.
Piech also is a grandson of Ferdinand Porsche, the founder of the sports-car company that also developed the Beetle.
FedEx seeks more airport presence
Memphis-based freight giant FedEx, which earlier this month increased capacity at Chattanooga Metropolitan Airport, may be looking at growing again, an official said.
“They’re doing very well, better than projected,” said John Naylor, the airport’s vice president of planning and development.
Naylor told the Airport Authority that FedEx officials are eyeing “bigger and better things” in Chattanooga.
Starting Oct. 3, FedEx began flying a Boeing 727 into Chattanooga every day, replacing two smaller aircraft and doubling capacity in and out of the city. Also, the company leased 12,000 square feet of hangar space at Lovell Field and invested in machinery to help it with the increased number of parcels, but no staff was added.
FedEx hoped to service Amazon’s two new distribution centers in the area.
Protests should target White House
U.S. Sen. Bob Corker, R-Tenn., said the Occupy Wall Street movement reflects Americans’ dissatisfaction with the economy. But Corker, who spent two days meeting with bankers last week in New York City near where the global protest movement began a month ago, said those upset with the economy should turn their frustration towards the Obama White House.
Corker said he doesn’t understand the message of the Occupy Wall Street movement and thinks many are misdirected in their criticism of bankers and financiers on Wall Street.
“If I were protesting in this country, I would be protesting Washington,” he said. “Here we have an economic recession, and we spend 15 months on a health care bill and then spend eight months on a financial regulation bill. We’ve done so many things during this financial downturn to make it worse.”
Alexander plans online tax proposal
U.S. Sen. Lamar Alexander, R-Tenn., a former governor, wants to give states the authority to require Internet retailers to collect sales and use taxes, according to The Tennessee Journal.
The Nashville political newsletter said Friday that Alexander will soon introduce federal legislation to overcome a Supreme Court ruling that has limited the authority of states to force online vendors to collect sales taxes. Tennessee and its local governments are projected to lose $408 million this year in taxes they’re owed from sales over the Internet but which are not paid by consumers. Buyers of goods sold online are supposed to pay local sales taxes, but few ever do, and the retailers are not required to collect sales taxes if they don’t operate retail stores in the state under a 1991 Supreme Court decision.
Alexander is touting his proposal as one of states rights. But The Tennessee Journal said the measure is likely to face opposition from anti-tax groups claiming that instituting a new collection requirement is the same as passing a new tax.