Andy BakerBB&T hires Andy Baker as market president
CLEVELAND, Tenn. – BB&T has hired veteran Andy Baker as the bank’s market president in Cleveland. Baker is based at the Cleveland Main office at 2305 Keith St.
Baker joined BB&T in February after working for the past decade at Southern Heritage Bank in Cleveland. The Roscoe, Ill., native earned his bachelor’s degree in business administration from Lee University, where he is currently pursuing his MBA.
BB&T, which acquired the former First Citizens Bankcorp in Cleveland in 2006, is the third biggest bank in metropolitan Cleveland, with four branches and $207.3 million in deposits as of June 30, 2016, according to the Federal Deposit Insurance Corp.
Based in Winston-Salem, N.C., BB&T is one of the largest financial services holding companies in the U.S. with $219.3 billion in assets and market capitalization of $38.1 billion.
Lake Winnepesaukah to hire 250 workers
Lake Winnepesaukah will open for its 92nd summer season May 4, and the Rossville amusement park is gearing up this week to staff the 80-acre park.
The Georgia Department of Labor will help Lake Winnepesaukah recruit more than 250 full-time, seasonal workers during a job fair today and Wednesday, from 10 a.m. to 6 p.m. at the park located at 1730 Lakeview Drive in Rossville.
The company is recruiting for a variety of jobs, including ride and game operators, food service workers and lifeguards.
The park is scheduled to open May 4, and will remain operational through Oct. 28.
Applicants must be at least 16 years old and can work up to six days a week, including weekends. Salaries will depend on the position and experience.
Next month, there will be a specific recruitment for lifeguard positions. Applicants are encouraged to apply now, if interested.
Gas prices rise to 19-month high
Gas prices last week rose to a 19-month high as oil prices jumped by more than $6 a barrel over the past couple of weeks.
The average price of regular gas in Chattanooga increased 2.7 cents per gallon to $2.12 per gallon, according to GasBuddy’s daily survey of 170 gas outlets in Chattanooga released Monday. Local gas prices have risen 14.3 cents per gallon in the past month and are up 22 cents a gallon, or more than 10 percent, from the same time a year ago.
For the first time this year, no service stations in the Chattanooga area are still selling gas below $2 a gallon with the cheapest prices available in the region Monday at $2.02 per gallon at a Citgo station in Middle Valley.
But GasBuddy.com surveys show Chattanooga gas prices are still 28 cents per gallon below the U.S. average of $2.40 per gallon. Chattanooga gas prices also are lower than other mid-South markets.
“The national average gasoline price climbed to its highest level since Sept. 5, 2015 on the $6 per barrel rise in oil prices over the last few weeks, supported by last week’s decline in oil inventories and pressure from geopolitical tensions,” said Patrick DeHaan, senior petroleum analyst for GasBuddy.com. “The national average may reach its peak for the year in the next few weeks barring major escalation in Syria as refiners have generally concluded seasonal maintenance work and summer gasoline’s May 1st deadline for refiners is just around the corner.”
HCA stock drops after profit warning
HCA Holdings Inc., the Nashville-based hospital chain that owns Parkridge Hospital in Chattanooga, warned Monday that its first- quarter revenue and earnings will fall short of analysts expectations.
HCA said it expects earnings for the first three months of 2017 of $659 million, or $1.74 per share, down from $694 million, or $1.69 per share, in the year-earlier period. Earnings of $1.74 per share are below the FactSet consensus of $1.79.
HCA expects revenue of $10.6 billion, below the FactSet consensus of $10.7 billion. The company blamed the shortfall on changes in payer mix, including a slightly higher percentage of Medicare admissions, and a slightly lower percentage of same facility managed care/health exchange admissions.
HCA stock fell Monday by $2.07 per share, or nearly 2.4 percent, to close at $85.65 in trading on the New York Stock Exchange.
Arconic CEO steps down after note sent to shareholder
Arconic said Monday that Klaus Kleinfeld had agreed to step down as CEO and chairman after the company’s board of directors discovered he sent a letter to its largest shareholder without telling them.
Arconic said in a statement that Kleinfeld “showed poor judgment.” A spokeswoman at Arconic declined to say what was in the letter.
Arconic Inc. makes aluminum, titanium or nickel parts for planes, cars and electronics. The New York-based company was spun off from aluminum company Alcoa last year.
Arconic said Kleinfeld’s letter was sent to a senior official at Elliott Management, an activist investor that has been pushing the company to replace Kleinfeld. Elliott Management has an 11.6 percent stake in Arconic.